NVP
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Best Thread Correlation Trading - Basic Ideas and Strategies
NVP
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sorry............stuffed again at work..........heres an article from moneyweek though re selling Euro.....some of these indexes would look good if you could only trade them intraday !!
you can sell Euro into dollar of course as thats the most obvious trade to make given the Greek tradgedy unfolding.........at the end of 2010 will the ultimate trade have been sell Euro ?
unfortunately I believe the carnage to come means that a couple of other currencies may also queue up for this title especially the GBP.....
later....much later....
N
you can sell Euro into dollar of course as thats the most obvious trade to make given the Greek tradgedy unfolding.........at the end of 2010 will the ultimate trade have been sell Euro ?
unfortunately I believe the carnage to come means that a couple of other currencies may also queue up for this title especially the GBP.....
later....much later....
N
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jrplimited
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Hi N and all (who?),
Straight in:-
GU; Saw spectacular rise stemming from Frankie session which can often mean exhaustion by early London start. First trade entered long on 08:00 bar at 62439, price stalled a little then went up and fell into tightish consolidation range which got me bored! Exited after 09:35 bar for 7 pip profit. Second trade took advantage of exhaustion and went short on 10:40 bar at 62368, had a small run south that looked like gaining momentum so adjusted SL but price ran out of steam and I waited to long for it to turn again and got hit by 11:25 bar which closed me out for 11 pip loss.
EU; Opened long on 08:00 bar at 40264 and rode the train north so pulled up SL to BE and got taken out by 08:40 bar for zilch pip. Second trade entered long on 09:05 bar but price immediately turned and 09:25 bar took SL out for 17 pip loss. Third trade went short on 10:25 bar and caught a slow move downwards, then a stagnation period followed by another push down, then a largish up bar at 11:45 which I exited on close for 11 pip profit.
EG; Entered short on 08:00 bar and suffered MAE of about 9 pips before price rolled over and went my direction. Had to keep an eye on this as price got itself stuck in a long sideways move which found a new low on 10:25 bar then immediately popped back up again. Watched price roll over once more to form new low and once again pop up so took this as a big hint to just ditch and fired exit bullet on close 11:45 bar for 8 pips profit - far to small for such a lengthy exposure.
Ridiculous day but typical as fab three were all trying to play catch-up with early morning moves. Watch out for US unemployment data release due quite soon. Trade well and regards,
Simon.
Straight in:-
GU; Saw spectacular rise stemming from Frankie session which can often mean exhaustion by early London start. First trade entered long on 08:00 bar at 62439, price stalled a little then went up and fell into tightish consolidation range which got me bored! Exited after 09:35 bar for 7 pip profit. Second trade took advantage of exhaustion and went short on 10:40 bar at 62368, had a small run south that looked like gaining momentum so adjusted SL but price ran out of steam and I waited to long for it to turn again and got hit by 11:25 bar which closed me out for 11 pip loss.
EU; Opened long on 08:00 bar at 40264 and rode the train north so pulled up SL to BE and got taken out by 08:40 bar for zilch pip. Second trade entered long on 09:05 bar but price immediately turned and 09:25 bar took SL out for 17 pip loss. Third trade went short on 10:25 bar and caught a slow move downwards, then a stagnation period followed by another push down, then a largish up bar at 11:45 which I exited on close for 11 pip profit.
EG; Entered short on 08:00 bar and suffered MAE of about 9 pips before price rolled over and went my direction. Had to keep an eye on this as price got itself stuck in a long sideways move which found a new low on 10:25 bar then immediately popped back up again. Watched price roll over once more to form new low and once again pop up so took this as a big hint to just ditch and fired exit bullet on close 11:45 bar for 8 pips profit - far to small for such a lengthy exposure.
Ridiculous day but typical as fab three were all trying to play catch-up with early morning moves. Watch out for US unemployment data release due quite soon. Trade well and regards,
Simon.
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NVP
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[QUOTE=jrplimited;1042270]Hi N and all (who?),
Straight in:-
GU; 7 pip profit. Second trade 11 pip loss.
EU; zilch pip. Second trade 17 pip loss. Third trade 11 pip profit.
EG; 8 pips profit
Ridiculous day but typical as fab three were all trying to play catch-up with early morning moves. Watch out for US unemployment data release due quite soon. Trade well and regards,
Simon.[/QUOTE]
ok so net small loss............it shows though that even on a tough day your "netting effect" tends to balance things out............however if major divergence occurs even on just one of the 3 currencies you are in clover !!...........:clover:
N
Straight in:-
GU; 7 pip profit. Second trade 11 pip loss.
EU; zilch pip. Second trade 17 pip loss. Third trade 11 pip profit.
EG; 8 pips profit
Ridiculous day but typical as fab three were all trying to play catch-up with early morning moves. Watch out for US unemployment data release due quite soon. Trade well and regards,
Simon.[/QUOTE]
ok so net small loss............it shows though that even on a tough day your "netting effect" tends to balance things out............however if major divergence occurs even on just one of the 3 currencies you are in clover !!...........:clover:
N
NVP
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well who indeed
nearly 26,000 views and 91 copies of corrie downloaded to date ..............
is it really that boring on TV now ? :clap:
N
maybe we need a gimmick simon......can you dress up in the karen brady dress again.....gotta say looks better on you than her...........oooooo
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NVP
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recent history part 1
Hi all
lets start the day with some recent history........
heres a simple 1H 1000/1 corrie for last few weeks
as you can see its been a great 2 weeks for the tag team and the GBP........Euro has
been the fall guy and I hope you have all profited from this activity......
(to be continued)
Hi all
lets start the day with some recent history........
heres a simple 1H 1000/1 corrie for last few weeks
as you can see its been a great 2 weeks for the tag team and the GBP........Euro has
been the fall guy and I hope you have all profited from this activity......
(to be continued)
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recent history part 2
in fact.........those 3 currencies hae been unbeatable.......if you had backed a triella at your local bookies saying these 3 currencies for a win/place over a 2 week course... then it would be the home straight with the finishing line easily in sight......red rum eat your heart out ! :clap:
sure Swissie (grey) was almost neutral but it always is ! :whistling
(to be continued)
in fact.........those 3 currencies hae been unbeatable.......if you had backed a triella at your local bookies saying these 3 currencies for a win/place over a 2 week course... then it would be the home straight with the finishing line easily in sight......red rum eat your heart out ! :clap:
sure Swissie (grey) was almost neutral but it always is ! :whistling
(to be continued)
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just interupting the hstory for the morning action
tag are actually under pressure to fall.......wih the WS30 and gold (on left side) just starting to push above their ma20's .......although the nikkei is a solid sell......hmmmm
the 1m bars have breached briefly but fakeouts so hold your powder dry...........
I need a little more proof but it looks like some sell tag buy europair action......perhaps people will unwind their mega shorts on Euro today or at least tighten stops which could actually bring home some unexpected big euro plays up today ?
be careful out there
N
tag are actually under pressure to fall.......wih the WS30 and gold (on left side) just starting to push above their ma20's .......although the nikkei is a solid sell......hmmmm
the 1m bars have breached briefly but fakeouts so hold your powder dry...........
I need a little more proof but it looks like some sell tag buy europair action......perhaps people will unwind their mega shorts on Euro today or at least tighten stops which could actually bring home some unexpected big euro plays up today ?
be careful out there
N
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NVP
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recent history lesson part 3
and here is the 1h corrie 1000/1 with all the markets vs TAG
c'mon......it does correlate doesnt it !
I dont tend to spout about the characteristics of the non forex markets as I dont follow them and can only go on what I read....but look how slow the ftse100 (red) is compared to the Dax and even the ws30......I am told that can be caused by the heavy weighting of defensive stocks contained in the Ftse that slows its movements compared to say the DAX....whatever........i'll keep my lead markets as Gold (Gold) and WS30 (grey) and oh boy did they signal the recent movements well
as you can see a lot of testing of bottoms going on now which could extend for a long period inviting some range plays to look for (that will be trends of course in our lower Timeframes)
I make no conclusions here....remember if you want to be a successful trader dont predict movements or pontificate on the state of the markets....just focus on entries and exits based on your trading plan..........and the markets will take care of themselves....
good luck today
N
and here is the 1h corrie 1000/1 with all the markets vs TAG
c'mon......it does correlate doesnt it !
I dont tend to spout about the characteristics of the non forex markets as I dont follow them and can only go on what I read....but look how slow the ftse100 (red) is compared to the Dax and even the ws30......I am told that can be caused by the heavy weighting of defensive stocks contained in the Ftse that slows its movements compared to say the DAX....whatever........i'll keep my lead markets as Gold (Gold) and WS30 (grey) and oh boy did they signal the recent movements well
as you can see a lot of testing of bottoms going on now which could extend for a long period inviting some range plays to look for (that will be trends of course in our lower Timeframes)
I make no conclusions here....remember if you want to be a successful trader dont predict movements or pontificate on the state of the markets....just focus on entries and exits based on your trading plan..........and the markets will take care of themselves....
good luck today
N
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jrplimited
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Hi N and whoever,
Five weeks ago was Christmas day and next week is nfp day - where does time go? At my age it goes in chunks of memory loss.... Now, where was I ? Ah yes, did I mention five weeks ago was....!!! Bun fight today:-
GU; Opening 08:00 bar looked like making for a short run but subsequent bar changed all that so buy stop placed at 61426 whilst trigger finger hovered over sell button just in case. Big 08:10 bar filled me with smalll slippage and shot up, staggered then dropped down again and turned up once more to test previous high zone. SL moved to TS position and 09:10 bar took this out for 12 pip profit. Second trade entered short on 09:35 bar and price immediately went against me and 09:55 bar took out SL for 20 pip loss. Third trade opened short on 10:30 bar at 61372, price went up then rolled over and rose back up and just caught SL on 10:55 bar for 21 pip loss.
EU; Wicked looking big bar at 08:00 but price quickly retreated away and buy stop placed at 39727 which got filled right at top of 08:20 bar and the usual price retreating thingy doo-dah followed but managed to recover itself to a [not!] dizzy height before rolling over again and taking adjusted SL out during 10:00 bar for 12 pip loss. Second trade entered short on 11:05 bar and price stalled for a couple of bars before travelling north and delivering another blow to the chin by just marginally taking out SL on 11:30 bar for 18 pip loss.
EG; Real basket case today. Couldnt find entry until top of 09:20 bar filled buy stop at 86542, went up for one bar then turned down, tried to rally again and ran out of steam to take SL out on 11:10 bar for 13 pip loss. Tempted to try another long after 11:30 bar push up but time was ticking away against me plus patience running out mucho rapido by then!
Another train wreck of a day for me where nothing seemed to be happening direction wise - oh well, thats trading for you. Hopefully I might be able to get some small revenge this afternoon if any decent opportunities raise their ugly heads but for now the chop monster is firmly in the driving seat so its a case of keeping wallet tightly shut.
Trade well and regards,
Simon.
Five weeks ago was Christmas day and next week is nfp day - where does time go? At my age it goes in chunks of memory loss.... Now, where was I ? Ah yes, did I mention five weeks ago was....!!! Bun fight today:-
GU; Opening 08:00 bar looked like making for a short run but subsequent bar changed all that so buy stop placed at 61426 whilst trigger finger hovered over sell button just in case. Big 08:10 bar filled me with smalll slippage and shot up, staggered then dropped down again and turned up once more to test previous high zone. SL moved to TS position and 09:10 bar took this out for 12 pip profit. Second trade entered short on 09:35 bar and price immediately went against me and 09:55 bar took out SL for 20 pip loss. Third trade opened short on 10:30 bar at 61372, price went up then rolled over and rose back up and just caught SL on 10:55 bar for 21 pip loss.
EU; Wicked looking big bar at 08:00 but price quickly retreated away and buy stop placed at 39727 which got filled right at top of 08:20 bar and the usual price retreating thingy doo-dah followed but managed to recover itself to a [not!] dizzy height before rolling over again and taking adjusted SL out during 10:00 bar for 12 pip loss. Second trade entered short on 11:05 bar and price stalled for a couple of bars before travelling north and delivering another blow to the chin by just marginally taking out SL on 11:30 bar for 18 pip loss.
EG; Real basket case today. Couldnt find entry until top of 09:20 bar filled buy stop at 86542, went up for one bar then turned down, tried to rally again and ran out of steam to take SL out on 11:10 bar for 13 pip loss. Tempted to try another long after 11:30 bar push up but time was ticking away against me plus patience running out mucho rapido by then!
Another train wreck of a day for me where nothing seemed to be happening direction wise - oh well, thats trading for you. Hopefully I might be able to get some small revenge this afternoon if any decent opportunities raise their ugly heads but for now the chop monster is firmly in the driving seat so its a case of keeping wallet tightly shut.
Trade well and regards,
Simon.
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NVP
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yeouch mate..............look at the GBP below blow by blow...
G/U trades (First chart 1m corrie - 3 red verts)
vert 1 - buy.......real shame that didnt develop mate ....GBP got long then dropped back and followed tag down...in fact Euro went short as well so another G8 was stealing the pips !
vert 2 - sell.....you walked into a wall again....this time gbp reversed immediately and usd went flat.....jees tough crowd !!
vert 3 - sell ......hmmm that was an interesting one as most things looked pretty flat on the 1mins when ou entered ....then usd went south.....
tough day !
N
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NVP
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journeys end ?
Confucious said that "even the longest journeys must start with 1 step"....
(although the rest of his trading quotes were rubbish...)..
heres the USD journey since october time (4h 1000/1 corrie).......classic (2 steps forwards 1 step back) cyclical pattern climb folowing its more eager and volatle companion the yen.....a long and hard journey towards the summit......
so what happens when they get there ? :innocent:
N
Poor Euro........it needs some good news....although its hardly as if its just Greece in trouble is it ?
Confucious said that "even the longest journeys must start with 1 step"....
(although the rest of his trading quotes were rubbish...)..
heres the USD journey since october time (4h 1000/1 corrie).......classic (2 steps forwards 1 step back) cyclical pattern climb folowing its more eager and volatle companion the yen.....a long and hard journey towards the summit......
so what happens when they get there ? :innocent:
N
Poor Euro........it needs some good news....although its hardly as if its just Greece in trouble is it ?
