Best Thread Correlation Trading - Basic Ideas and Strategies
NVP
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I am well aware of my weaknesses scalping so continue to work on them day by day .....the system is sound that I use but :-
1) my head turns if I see serious momentum/switch ...I must learn to stop chasing ghosts......they invariably reverse as soon as I go in (sound familiar).....gbp and yen are my Achilles heels !!
2) I need to work harder on my pairchart analysis and ensuring I scalp only in correct price bands with sufficient trend support............forexperian is the master at this .....go to his thread where he calls the ranges ..........I frequently am calling trades up and down on pairs within say 10 pip ranges ...................that's ridiculous at times ..........despite my strengthmeters telling me a trade is on
3) and then theres the other 200 issues........hahahahahaha
have good weekends
N
1) my head turns if I see serious momentum/switch ...I must learn to stop chasing ghosts......they invariably reverse as soon as I go in (sound familiar).....gbp and yen are my Achilles heels !!
2) I need to work harder on my pairchart analysis and ensuring I scalp only in correct price bands with sufficient trend support............forexperian is the master at this .....go to his thread where he calls the ranges ..........I frequently am calling trades up and down on pairs within say 10 pip ranges ...................that's ridiculous at times ..........despite my strengthmeters telling me a trade is on
3) and then theres the other 200 issues........hahahahahaha
have good weekends
N
NVP
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Hey all ...........
sorry re yesterday........ I had a few calls I had to take with the US west coast so had to step out early
overall the usd was a great bull play yesterday ............it flattened later in the evening as the chart shows ..........
one of the things you must realise with strenghmeters on lower ma's is that a converging line does not automatically mean the currency is retracing dramatically ...it merely means the momentum regarding the divergence is falling.........that's not an automatic reversal on realtime charts
if you use strengthmeters (or any similar indicators lime MACD's) for long enough you learn to read them and their behaviour....so take the time and don't jump in
so for example on the chart below standard default 20ma setting........the green usd is converging towards the close of play and the red GBP line is also converging back upwards to zero........right ?
but if you look at the GU pairchart its not exactly a bull rush north is it ?
so always be careful and learn your stuff :smart:
later
N
sc
sorry re yesterday........ I had a few calls I had to take with the US west coast so had to step out early
overall the usd was a great bull play yesterday ............it flattened later in the evening as the chart shows ..........
one of the things you must realise with strenghmeters on lower ma's is that a converging line does not automatically mean the currency is retracing dramatically ...it merely means the momentum regarding the divergence is falling.........that's not an automatic reversal on realtime charts
if you use strengthmeters (or any similar indicators lime MACD's) for long enough you learn to read them and their behaviour....so take the time and don't jump in
so for example on the chart below standard default 20ma setting........the green usd is converging towards the close of play and the red GBP line is also converging back upwards to zero........right ?
but if you look at the GU pairchart its not exactly a bull rush north is it ?
so always be careful and learn your stuff :smart:
later
N
sc
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NVP
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you will read a lot about the USD in the financial press over the weekend
its strong.........and getting stronger...........on the weekly chart below a buy bet from july would have brought significant rewards against almost all of the remaining G7 ....only the brown cad has been as relatively robust recently
Blue Euro continues its annus horriblus ............it really cannot wait now to get this year out of the way ..............but lets face it .......its not over yet with Q4 looming..........
N
its strong.........and getting stronger...........on the weekly chart below a buy bet from july would have brought significant rewards against almost all of the remaining G7 ....only the brown cad has been as relatively robust recently
Blue Euro continues its annus horriblus ............it really cannot wait now to get this year out of the way ..............but lets face it .......its not over yet with Q4 looming..........
N
