Best Thread Correlation Trading - Basic Ideas and Strategies

[NVP]

hmmm - all happening at the moment !!!

l finally had a decent rate offer on a consultancy deal I've been negociating.........will probably take it as I can also scalp outside of work time ........

got to sort out some stuff for start later this week so off line for a while......

trading wise - I see that after some nice recent gains the usd is chopping at present

N

 

[Forexmospherian]

hmmm - all happening at the moment !!!

l finally had a decent rate offer on a consultancy deal I've been negociating.........will probably take it as I can also scalp outside of work time ........

got to sort out some stuff for start later this week so off line for a while......

trading wise - I see that after some nice recent gains the usd is chopping at present

N

Even Major Magnum would be mighty impressed N

And I know your 2 losses would not be silly for 15 or 30 pips etc etc

We need to then review a few pairs - you favourites today and I can tell you how I saw them

Meanwhile - impressed - better than me - I dont normally only have 2 errors on 30 scalps - - I would expect 4 to 7 losses easily - even if for minus 2 or max minus 5

Well Done


Regards


F

 

[NVP]

thanks .....

it got scrappier later on as I was (dumbly) talking to other agencies regarding my offer whilst also scalping............heresy but hey its a demo

no more trades later today as other things going on and had to go out

and hey ...if you cant make money off of those spreads you do need to be shot !!..so its not that impressive really !!!!

N

 

[NVP]

morning all.....

going to try to run it now for a few hours ............

got roofers in soon....... so will be interrupted intermittently

such is life

9.30 GBP news otherwise clear mornings scalping

I want to get my demo back to £10,000 opening balance today ....more fooling yesterday has me around £50 down...........hey I like a challenge .........that's about 50 pips for me today

N

 

[NVP]

ok usd is still weak after yesterdays falls..........once I have all charts checked and ready I will (probably) attack sells......but no guarantees

N

 

[NVP]

hey all

classic scalping syndrome ...............30 scalps 24 wins 6 losses

but 2 of those losses were stopped and cost me £10 (both on GU )

i'm pretty unbeatable on EU ..........

so basically i'm down so far ...............that last GU is dubious .....I didn't see the market move that much that quickly...............such is life

usd is retracing north...........I wont chase it up yet

N

 

[NVP]

back to business !!!

 

[NVP]

in truth I think with practice and these =0.3 - 0.5 pip spreads I can scalp trade the EU all day .............i'm making no headway as I keep dropping 3 pip s/ls on other curremncies earlier today

hahahahah

ok taking a break ..............having a ball.......been buying usd recently

N

 

[NVP]

I hope this open book policy is helping ...........naturally if I was trying to do this with 0.8-1 pip spreads I would be being killed

N

 

[Forexmospherian]

hey all

classic scalping syndrome ...............30 scalps 24 wins 6 losses

but 2 of those losses were stopped and cost me £10 (both on GU )

i'm pretty unbeatable on EU ..........

so basically i'm down so far ...............that last GU is dubious .....I didn't see the market move that much that quickly...............such is life

usd is retracing north...........I wont chase it up yet

N

Morning N

Good luck today on your 50 pip target

For scalping - you need those stops ideally under 5 pips - fixed in stone - and even pull if 2 pips wrong way
##

Think about it - with spreads as low as 0 3 pip - if you get it wrong - you still have 2 or 3 more chance to re enter if it turns - instead of it going against you

So even 4 losses at 2 or 3 pips each - still better than 1 loss with a 15 or 20 pip stop.

Timing is key but on that 20+ winning run yesterday - its shows you can get timing OK

We will get you using your correlator and a stop watch next

All the best


F

 

[NVP]

yep timing is all .......................


whilst I could have just taken that enormous usd bull run selling Euro instead ive been arguing with the company I was due to start a contract with later this week

theyve pulled it as some hotshot internal americans are coming over now to perform the roles

good luck with that then ..........GRRRRRR

gonna step out as need to make some calls .............

later...........usd on nice bull run recently

N

 

[NVP]

hey all

well I have been scalping full on.....................i'm averaging over 90% win ratio but some of those losses are hitting my 3pip loss level and then the small $0.3 pip commission on top of that is dragging me back............my wins are only around 0.3-0.5 as well so this is bad......

i'm 100% as well just on EU so clearly when thsee guys are moving in same direction theres o pips on offer ........

ive also done the classic thing and been drawn closer and closer to the action .............i'm not stepping back and finding better moves and locking in

back later ....usd index volatility has been great ..........lots of usd selling last 2 hours.....its a disgrace I am not optimising this ...........but then as stated ive been 100% on EU trades to use that low spread........hmmmmmm

N

 

[Forexmospherian]

Hi N

Will go through EU later with regards to levels etc to assist on longer scalps etc

Yes if you make only 1 pips or less - even at 90\% success - too tight

Ideally every scalp you need over 3 pips - then even just a 60% + win ratio with 3 pip stops is profitable

Get the odd runner - then suddenly you might have a 15 pip or 30+ pip scalp - I seem to find a few every day - so I know you will as well

Will review EU later on

Regards

F

 

[NVP]

hey gang - RE LMAX

if you exclude the first 10-15 trades I took first thing yesterday on the new demo platform (testing stops on 6 pairs***)......ive achieved

271 trades - 214 wins (79%) - 1 contract per trade
my account is at £9928 (from £10,000) = £70 loss

add back the enforced £13 losses on initial stop loss trades/tests ***

= £57 loss

that equates to

£58 in fees ($0.32 usd commission pc) - spread already charged in trades
£1 profit on the 271 trades

well worth it ...........I went significantly to pure EU this afternoon - this cramps my style but better round trip on spread + commission

sooooooo.....work in progress ....no complaints about the platform ...........its user error that's the problem at present

 

[NVP]

Hi N

Will go through EU later with regards to levels etc to assist on longer scalps etc

Yes if you make only 1 pips or less - even at 90\% success - too tight

Ideally every scalp you need over 3 pips - then even just a 60% + win ratio with 3 pip stops is profitable

Get the odd runner - then suddenly you might have a 15 pip or 30+ pip scalp - I seem to find a few every day - so I know you will as well

Will review EU later on

Regards

F

agree 10000% with everything..............i'm reviewing my performance at the moment ..........feck all else to do after that company withdrew my consultancy contract .....GRRRRRRRRRRR

N :smart:

 

[Forexmospherian]

You are a scalper in every sense of the word N ;-)

Impressed with your win ratio - very high - BUT ............

Also we know LMAX is impressive - so you have the right tools

Got to now slow you down - you have done more trades in 2 days then I take in 2 weeks plus and get you into a sustainability mode - ongoing 5 days a week - 200+ days per annum

Not easy - but with fine tuning and your commitment etc etc - you wlll get there

Regards


F

 

[NVP]

You are a scalper in every sense of the word N ;-)

Impressed with your win ratio - very high - BUT ............

Also we know LMAX is impressive - so you have the right tools

Got to now slow you down - you have done more trades in 2 days then I take in 2 weeks plus and get you into a sustainability mode - ongoing 5 days a week - 200+ days per annum

Not easy - but with fine tuning and your commitment etc etc - you wlll get there

Regards


F

yep - I believe I will...........no worries

 

[NVP]

ok last post probably today ..............the usd has been a great sell in last 30 mins ...........here was the last recent 10 mins or so where I tried to hammer the EU for buys ...........

i'm doing ok but marginal stuff..........plenty of winners but only 2-3 pips max.........I need to clear $30c for commission .........equalled about $3 on these 8-9 trades .........so small net profit for these trades

no where near enough runs yet..........not even one ...........they will come ..........

N

 

[NVP]

this is just 1 pair..............god knows how I include others .........it wont be at this pace !!!!

N

 

[NVP]

and as all can see i'm still falling behind ............£9,930............got to focus ore and let them run

N