NVP
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Best Thread Correlation Trading - Basic Ideas and Strategies
jrplimited
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Hi N and all else,
Ran fairly tightish stops today after last Friday's train wreck.....
GU; Waited as price swung up then down after 08:00 bar, placed sell stop at 59233 and 08:35 bar took this out right at end. Price went down for three bars then rose back to near my entry point before turning once more. Noticed a base formed at 09:10 which was similar to prior down wave so pulled SL to BE and sharp up turn 09:25 bar hit this for nada pips. Second trade went short on 09:40 bar at 59211 price moved down then bounced up but this time with no real conviction. Price motored south untl eventually getting itself into a very weak bar tight range from 10:35 onwards and 11:05 bar took TS out for 44 pip profit.
EU; Roller coaster today. First trade went short on 08:05 bar and big 08:10 bar shot up to hit SL for 16 pip loss. Second trade was a near exact mirror of that; opened short on 08:45 bar and price turned around to hit SL on 08:55 bar for another 16 pip loss and another big sqeal from me!
EG; Had to wait until 08:45 bar closed for a decent signal. Opened long on 08:50 bar at 87244, price made a shallow climb then dropped to my original entry, then managed to crawl upwards again until 10:05 bar, where a bit of momentum took hold and propelled price further north. Price went into a weak range from 10:40 bar and I could see it was running out of steam so let 11:20 take out TS for 28 pip profit.
What a morning! Still, having been refreshed from the weekend's break and drowning out last Friday's dismal day's performance with a plenty of red nectar, it was a case of watching every trade carefully as there was a fair amount of volatility present.
Be careful this afternoon. Trade well and regards,
Simon.
Ran fairly tightish stops today after last Friday's train wreck.....
GU; Waited as price swung up then down after 08:00 bar, placed sell stop at 59233 and 08:35 bar took this out right at end. Price went down for three bars then rose back to near my entry point before turning once more. Noticed a base formed at 09:10 which was similar to prior down wave so pulled SL to BE and sharp up turn 09:25 bar hit this for nada pips. Second trade went short on 09:40 bar at 59211 price moved down then bounced up but this time with no real conviction. Price motored south untl eventually getting itself into a very weak bar tight range from 10:35 onwards and 11:05 bar took TS out for 44 pip profit.
EU; Roller coaster today. First trade went short on 08:05 bar and big 08:10 bar shot up to hit SL for 16 pip loss. Second trade was a near exact mirror of that; opened short on 08:45 bar and price turned around to hit SL on 08:55 bar for another 16 pip loss and another big sqeal from me!
EG; Had to wait until 08:45 bar closed for a decent signal. Opened long on 08:50 bar at 87244, price made a shallow climb then dropped to my original entry, then managed to crawl upwards again until 10:05 bar, where a bit of momentum took hold and propelled price further north. Price went into a weak range from 10:40 bar and I could see it was running out of steam so let 11:20 take out TS for 28 pip profit.
What a morning! Still, having been refreshed from the weekend's break and drowning out last Friday's dismal day's performance with a plenty of red nectar, it was a case of watching every trade carefully as there was a fair amount of volatility present.
Be careful this afternoon. Trade well and regards,
Simon.
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nearly reached his half century at lunch......keep him off the red stuff and the curry sandwiches and he might go on to make the 50 and more by tea ?
N
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NVP
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USD....Stubborn as a mule.....?
look at the gold 5m and the recent perfomance of the usd on the 5m corrie
gold has thrown everything but the kitchen sink into the attack.....its risen $17 since mid day.......yet USD refuses to fall !!!
Yen has fallen a lot this afternoon off the back of the Dow30 rising a respectable 60-70 points........yet USD refuses to fall !!!!
Aussie D has done ok buying into the USD(not shown) but apart from that our euro twins have sat as confused as we are re the USD's hidden bullishness......
JRP will have done well to get to his half century if he batted again this afternoon !
N
look at the gold 5m and the recent perfomance of the usd on the 5m corrie
gold has thrown everything but the kitchen sink into the attack.....its risen $17 since mid day.......yet USD refuses to fall !!!
Yen has fallen a lot this afternoon off the back of the Dow30 rising a respectable 60-70 points........yet USD refuses to fall !!!!
Aussie D has done ok buying into the USD(not shown) but apart from that our euro twins have sat as confused as we are re the USD's hidden bullishness......
JRP will have done well to get to his half century if he batted again this afternoon !
N
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mornin all.............
c'mon you all know the drill by now........heres the charts
watch the 15m bar developing now for any channel breaches.....big ones last night as tag gained off of market falls......Aussie d got hit hard during that action....(not shown)
you know we gotta start including that litle dude soon....he sure delivers if Europair are proving flat to tags action ....
be careful out there
N
c'mon you all know the drill by now........heres the charts
watch the 15m bar developing now for any channel breaches.....big ones last night as tag gained off of market falls......Aussie d got hit hard during that action....(not shown)
you know we gotta start including that litle dude soon....he sure delivers if Europair are proving flat to tags action ....
be careful out there
N
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jrplimited
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Hi N and whoever,
Rain has washed last of the snow away and now we are left with a soggy mess - speaking of a soggy mess, did anyone notice the USA's declared budget defecit of 1.4 trillion Dollars for this coming fiscal year? Thats just about what the UK owes currently in borrowings terms, so nearly three trillion Dollars has to "magic" itself into these two economies over the next year and a half... I dont think so somehow! Onto this morning's own very soggy bun fight:-
GU; The "hate the Great British Peso" campaign continues! A no brainer short taken on open of 08:15 bara at 59352, price drove down rapidly until bottoming out a few bars later then rose up again to take TS out on 08:45 bar for 19 pip profit. Couldnt find any other decent setups after that small run.
EU; Short taken on open 08:10 bar at 39276, price went down without a lot of conviction, did a U turn then tried to get back down again but strong 09:05 up bar had me flapping so SL moved to BE and this got hit during 09:15 weak bar for zilch. Second trade entered long on 09:35 bar, suffered a small retrace before price pushed up again with biggish 10:15 up bar then it just ran out of steam on me. Pulled SL to BE again and couldnt believe it when 10:45 bar took this out for yet another zippo result. Decided to leave this pair alone as it seemed to be caught within a fairly narrow range.
EG; First trade entered long on 08:15 bar at 87418 had a brief ride upwards then price did a complete turn around on me before starting to push back up again on 09:10 bar, so moved SL to BE as I thought this would motor off. Ahh, lovely thought but not to be as long tail of 09:20 bar caught this and took me out for nothing pip wise. Second trade entered long on 09:55 bar at 87484 and price carried on upwards then stalled so I exited on 10:45 bar close for 6 pip profit. Definitely closing that chart down for the day!
Bit earlier than usual finish for me but markets seem to be in a real "should we; shouldnt we" mode this morning, so its best to let things settle down for a while and maybe have another look later on.
Trade well and regards,
Simon.
Rain has washed last of the snow away and now we are left with a soggy mess - speaking of a soggy mess, did anyone notice the USA's declared budget defecit of 1.4 trillion Dollars for this coming fiscal year? Thats just about what the UK owes currently in borrowings terms, so nearly three trillion Dollars has to "magic" itself into these two economies over the next year and a half... I dont think so somehow! Onto this morning's own very soggy bun fight:-
GU; The "hate the Great British Peso" campaign continues! A no brainer short taken on open of 08:15 bara at 59352, price drove down rapidly until bottoming out a few bars later then rose up again to take TS out on 08:45 bar for 19 pip profit. Couldnt find any other decent setups after that small run.
EU; Short taken on open 08:10 bar at 39276, price went down without a lot of conviction, did a U turn then tried to get back down again but strong 09:05 up bar had me flapping so SL moved to BE and this got hit during 09:15 weak bar for zilch. Second trade entered long on 09:35 bar, suffered a small retrace before price pushed up again with biggish 10:15 up bar then it just ran out of steam on me. Pulled SL to BE again and couldnt believe it when 10:45 bar took this out for yet another zippo result. Decided to leave this pair alone as it seemed to be caught within a fairly narrow range.
EG; First trade entered long on 08:15 bar at 87418 had a brief ride upwards then price did a complete turn around on me before starting to push back up again on 09:10 bar, so moved SL to BE as I thought this would motor off. Ahh, lovely thought but not to be as long tail of 09:20 bar caught this and took me out for nothing pip wise. Second trade entered long on 09:55 bar at 87484 and price carried on upwards then stalled so I exited on 10:45 bar close for 6 pip profit. Definitely closing that chart down for the day!
Bit earlier than usual finish for me but markets seem to be in a real "should we; shouldnt we" mode this morning, so its best to let things settle down for a while and maybe have another look later on.
Trade well and regards,
Simon.
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25 pips is not bad at all for a tough mornings action......GBP and Yen did not deliver daily fireworks (neither breaching overnight ranges.........very subdued.....usd drifted down and was only currency to breach its overnights although it was a small breach that retraced !
perhaps more fun this pm.....as at now markets are all drifting into sell mode so perhaps the tag will oblidge with some bullish action.....if they do GBP has plenty of space to move down as in top half of its "safe" daily range.....
N
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jrplimited
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Hi N,
Guess you busy at the daytime slave job. Decided to simply just leave markets alone this aftrenoon and let them do their "thing", Euro Rouble is still suffering from potential Greece fallout and last night I caught some more bad news about Spain and Portugual defecits - the former is to announce an enormous 20% unemployment rate soon.
Bit of light reading for you and goodness knows who else reads this thread. An American trading colleague of mine sent this to me after we had a brief MSN session on the markets:-
What's the difference between a million, a billion, a trillion?
A million seconds is 12 days. A billion seconds is 31 years. A trillion seconds is 31,688 years.
A million minutes ago was – 1 year, 329 days, 10 hours and 40 minutes ago. A billion minutes ago was just after the time of Christ.
A million hours ago was in 1885. A billion hours ago man had not yet walked on earth.
A million dollars ago was five (5) seconds ago at the U.S. Treasury. A billion dollars ago was late yesterday afternoon at the U.S. Treasury.
A trillion dollars is so large a number that only politicians can use the term in conversation... probably because they seldom think about what they are really saying, mathematicians do not even use the term trillion!
Here is some perspective on TRILLION:
Trillion = 1,000,000,000,000.
The country has not existed for a trillion seconds. Western civilization has not been around a trillion seconds. One trillion seconds ago – 31,688 years – Neanderthals stalked the plains of Europe.
Frightening stuff eh? And those politicians on both sides of the pond glibly talk about trillion Dollar defecits / borrowings as if this were peanuts...
Simon.
Guess you busy at the daytime slave job. Decided to simply just leave markets alone this aftrenoon and let them do their "thing", Euro Rouble is still suffering from potential Greece fallout and last night I caught some more bad news about Spain and Portugual defecits - the former is to announce an enormous 20% unemployment rate soon.
Bit of light reading for you and goodness knows who else reads this thread. An American trading colleague of mine sent this to me after we had a brief MSN session on the markets:-
What's the difference between a million, a billion, a trillion?
A million seconds is 12 days. A billion seconds is 31 years. A trillion seconds is 31,688 years.
A million minutes ago was – 1 year, 329 days, 10 hours and 40 minutes ago. A billion minutes ago was just after the time of Christ.
A million hours ago was in 1885. A billion hours ago man had not yet walked on earth.
A million dollars ago was five (5) seconds ago at the U.S. Treasury. A billion dollars ago was late yesterday afternoon at the U.S. Treasury.
A trillion dollars is so large a number that only politicians can use the term in conversation... probably because they seldom think about what they are really saying, mathematicians do not even use the term trillion!
Here is some perspective on TRILLION:
Trillion = 1,000,000,000,000.
The country has not existed for a trillion seconds. Western civilization has not been around a trillion seconds. One trillion seconds ago – 31,688 years – Neanderthals stalked the plains of Europe.
Frightening stuff eh? And those politicians on both sides of the pond glibly talk about trillion Dollar defecits / borrowings as if this were peanuts...
Simon.
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as the saying goes
Look after the Billions and the Trillions will look after themselves....
yes I am busy totin cotton on the farm......yessum bazz......getting it done now bazz.......:whistling
N
NVP
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NVP
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lunchtime scores.............
hmmmmm....all over the place since last update
Euro has performed the best of the 4some with good gains.....others have scraped around....USD has risen since 9am as gold has fallen and Yen is ranging alongside
the WS30....GBP has generally dumped and is back around early hour opening levels
im hopeful that JRP got some E/G love as the best trade of the day started around
8.30ish on this pair and is still going about 40 pips later.......grabbing half of those would be doing well
N
hmmmmm....all over the place since last update
Euro has performed the best of the 4some with good gains.....others have scraped around....USD has risen since 9am as gold has fallen and Yen is ranging alongside
the WS30....GBP has generally dumped and is back around early hour opening levels
im hopeful that JRP got some E/G love as the best trade of the day started around
8.30ish on this pair and is still going about 40 pips later.......grabbing half of those would be doing well
N
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jrplimited
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Hi N and all the silent ones,
Late posting today because of an unusual (for me) delayed exit on one trade.
GU; Originally thought bias was up so buy stop set at 60552 and filled by 08:45 bar. Price did nothing then popped up 13 pips, retreated and 05:25 bar took SL out without even so much as a thank you for my 21 pip loss. Price now see-sawed down and bias had turned, second trade placed sell stop at 60108 but price backed off this, adjusted sell stop to 60163 and small 10:15 bar filled this. Price moved up slightly for one bar before turning over and catching some much needed momentum and went on a staggered run in my direction but without any signs of being able to recover. This trade looked to me as being a potential long distance runner so I held it beyond usual midday cut off and instead used 14:00 bar as alternative exit point for 71 pip profit.
EU; First trade went long on open of 08:35 bar at 39856 and caught a healthy momentum push upwards which eventually ran out of steam after 09:30 down bar thrust, exited on 09:55 bar for 23 pip profit. Tempted to try a second long on 11:40 bar but didnt feel enough time as usual cut off fast approaching.
EG; Tried a short trade (for some really, really stupid reason!) on 08:25 bar and paid the price by getting stopped out for 16 pip loss a few bars later. Couldnt find a setup to capture upwards move until buy stop triggered by 09:30 bar at 87486 which got me into a shallow retrace, followed by a recovery then another shallow retrace before engaging forward gear again and moving upwards. Exited trade at midday for 12 pip profit.
We are getting close to the infamous nfp day so watch out for lots of sideway slithers - trade well and regards,
Simon.
Late posting today because of an unusual (for me) delayed exit on one trade.
GU; Originally thought bias was up so buy stop set at 60552 and filled by 08:45 bar. Price did nothing then popped up 13 pips, retreated and 05:25 bar took SL out without even so much as a thank you for my 21 pip loss. Price now see-sawed down and bias had turned, second trade placed sell stop at 60108 but price backed off this, adjusted sell stop to 60163 and small 10:15 bar filled this. Price moved up slightly for one bar before turning over and catching some much needed momentum and went on a staggered run in my direction but without any signs of being able to recover. This trade looked to me as being a potential long distance runner so I held it beyond usual midday cut off and instead used 14:00 bar as alternative exit point for 71 pip profit.
EU; First trade went long on open of 08:35 bar at 39856 and caught a healthy momentum push upwards which eventually ran out of steam after 09:30 down bar thrust, exited on 09:55 bar for 23 pip profit. Tempted to try a second long on 11:40 bar but didnt feel enough time as usual cut off fast approaching.
EG; Tried a short trade (for some really, really stupid reason!) on 08:25 bar and paid the price by getting stopped out for 16 pip loss a few bars later. Couldnt find a setup to capture upwards move until buy stop triggered by 09:30 bar at 87486 which got me into a shallow retrace, followed by a recovery then another shallow retrace before engaging forward gear again and moving upwards. Exited trade at midday for 12 pip profit.
We are getting close to the infamous nfp day so watch out for lots of sideway slithers - trade well and regards,
Simon.
