Best Thread Correlation Trading - Basic Ideas and Strategies

[NVP]

ok I'm getting killed by the NZD............its fast but has chopped me 3 times now

N

 

[NVP]

usd broke north again ..........I sold NU the best pair on that move ...........but looking back I made fa to many stupid trades in alst hour............mostly in a usd range ...grrrrrrr

 

[Forexmospherian]

3 48 pm now

Another one to check on your set up

GU at 3 30 pm at approx 6195/6

Please let me know when you would have sold and then exited

Out for an hour - but back later on

Would like to check out the EJ one as well - then on those 2 trades can see how we can improve your set ups etc

Regards


F

 

[NVP]

hmmmmm.attrocious session today .......

too much chasing the NU during chop periods cost me dear............i'm about £10 down on day re LMAX DEMO .....but that does include the 50p round trip commission on each trade at about 40 trades today that's £20 costs..........so up on trading but still getting creamed after commissions

and i'm missing the damn usd bull run because I wanted to take a break.........

N

 

[NVP]

hmm.....I still need to tweak my stop losses on some of the pairs ..........

 

[NVP]

ok calling it a day ............brain is fried and i am getting very angry with myself and my stupid trading today .............jees

later
N

 

[Forexmospherian]

ok calling it a day ............brain is fried and i am getting very angry with myself and my stupid trading today .............jees

later
N

Hi N

Can totally relate to what you have said - but think about it

500+ trades in 4 days

That's maybe a few years trading for some swing traders

For me it would be over a month - ie over say 25 trading days

I reckon tomorrow you should just aim at say 10 or 15 max trades spread over 6 - 8 hrs - or less than 3 max per hr

Did you have any winning scalp today over say 10 pips in under 30 mins ??

Those 2 scalps I mentioned for you to check on your set up will give me a better indication of what you are seeing

Get a few hours off and a glass of wine - or even a cup of tea - ;-)

Regards

F

 

[NVP]

3 48 pm now

Another one to check on your set up

GU at 3 30 pm at approx 6195/6

Please let me know when you would have sold and then exited

F

ok F heres my feedback - I don't think I was trading at that time ......anyway see my comments on the chart below ........

as I trade using indexes you can see my comments........usd was signalling at the earliest for me around 6184.........BUT the GBP was not really signalling a sell............I would have probably gone to a more bearish currency at that point instead of GU...........anyway you can see when GBP turns for me around 6174.........so trade entered .........23 pips after your call

then I get a really big retrace on GBP on the yellow mark .........probably would have spooked me unless I had it rolling down on a trailer ........ which would have been the case training say 5 pips behind so probably would have hung in there.............

in truth the USD bottomed at around your call.........so I have to work on how I call that early...........currenclt I call when I see confirmation of a move .............I am not comfortable to guess at present and need to work on my indicators ..............

also I need to rework and check some of my settings ..............just to ensure I am seeing GBP correctly

thanks
N

 

[NVP]

heres the 2 I would have been looking at ..(GMT -1) ..........the aussies were pretty much ready to sell as soon as I saw the usd as a buy around 1.40 pm (unlike the gbp above that was bull )

NU would have been stopped out (story of my life earlier today re losing on NU Trades ....I was picking NU every time above AU as it moves faster but is more choppy)..but au would have run and run .........

and yes I'm not yet splitting contracts yet on this platform............. so perhaps I could have taken 50% off the NU at + 5 pips and let the rest run to stop out !!

such is life ........one of my decisions today is to think seriously about NU as a pair to trade.................I need to get my timing better or forget it

N

I am looking at a lot today ...............despite more net losses I am still shaking down plenty of things here that I wanted to try alongside the LMAX platform .................in truth when I open the batting again tomorrow i'm back on the charts I started with this week ...............i'm around £100 down but my commissions must be nearly £150 now in their ...........

but boyoboy F............I could never have called it at 1.30 pm !!!!

 

[Forexmospherian]

Cheers N for you info

I think the first trade was the EJ - will have to check again

I can probably help now on what you have told me

All I would say tomorrow is - try and stay with under 3 trades per hr for a start - cherry picking just one or two pairs with best potential for you - and then if you let me know - I will let you know what i see and expect etc

Should be around from 6 30 -45 am to at least 9 00 am in one go tomorrow

So chose one or two pairs of your choice - and then lets trade them ;-))

Regards


F

 

[NVP]

hey all..............ok here we go ............3 trades per hour ?...............jees that's retirement !!

 

[NVP]

ok seriously

usd has had 2 big moves so far today

Asian session saw a nice bull move ............then by around 6.30 am it had given it all back

weve gone bull again now to 50% retrace again ....

waiting
N

 

[Forexmospherian]

Morning N

Yes - just 3 trades an hr would be semi retirement for you - lol

Chose any 2 pairs for you to major on - and then I give you my takes

EU - GU - great scalp sells after 7 09 am and theh after 7 30 am again

8 00 am bounces atm

 

[NVP]

i'm up for the day but have overtraded...........couldn't help it ...I was down after my 3 trades and went into overdrive !!!

GRRRRRRRRRRRR

 

[NVP]

trading 4 usd pairs at the moment ............still buying USD

 

[Forexmospherian]

But EU and GU also scalp buys for now ??

 

[NVP]

usd ranging ....waiting

 

[NVP]

ok ..............making money still buying USD...........need to reset some indicators and recheck some figures ............still over trading ......sorry F

N

 

[Forexmospherian]

ok ..............making money still buying USD...........need to reset some indicators and recheck some figures ............still over trading ......sorry F

N

As long as you are making positive returns etc - no problem


I know that over scalping is very draining etc and not sustainable

See i had bought both GU and EU in last hr - but the bounces were not large enough and I had to pull them

The key was holding sell trades on 30% or more from 7 30 or 8 am - with stops in profits - and opposite on US pairs

Do that and then you can even scalp against yourself on 100% for small quick gains - whilst making larger pips on the trades left on from earlier


GL - and slow down - and 9 hrs left really for today ;-)


Regards

F

 

[MajorMagnuM]

F do you use a different broker for counter trades?. NvP will notice lmax dont allow two opposing positions one one account