Best Thread Correlation Trading - Basic Ideas and Strategies

[Forexmospherian]

Its funny because I can gradually begin to see how Forexperian is able to deliver such phenomenal performance week in and out ....................(see - not reproduce it !)

but boyoboy never underestimate how much time and experience he has to do that..........I can only try to learn and emulate over the next few months......

not the same exact systems...... as I have my Strengthmeter analysis that is ingrained in my trading DNA....but I am certainly learning how to incorporate more pairchart analysis back on the table in my trading........:smart:


N

Hi N

Thank you for some nice compliments - I really want to help you if I can - simply because you are genuine - serious - got the background ( accountancy and FX) and have a similar method of interpretating directions on Fx pairs that is well and truly tested and works

It's now just fine tuning it - so it can compare to my method of catching intra day moves at their beginning and taking positive short term trades that will give you RR's of a minimum of 1 - an average of 2 and then the better moves making you 3 to 10.

These types of results are unheard of to the majority of traders - that's why I get so much stick from the traders who have been misguided by the Industry

With you also being an accountant - you understand the power of maths and numbers - and Fx is a numbers game - and we can use our experience to help maximise our possible returns.

I think this last week you have realised that if you plan to trade full time - you will not want to be doing 200+ trades a week never mind 500 - especially for say 40 - 45 weeks a year.

My own personal optimum is between 60 and 100 intra day trades a week - based on trading 5 days between say 4 and 6 hrs over a day time window of approx 10 hours

I am going to explain more on why this is the case over the weekend in the other Intra day Thread

Any queries or questions etc - no problem fire them at me

Regards

F

 

[NVP]

thanks F ............and much appreciated

I have been fine tuning things a lot for tomorrows start...........(strange looks from our weekend house guests who keep wondering where my head is ........!!!)

I wont be calling absolute bottoms or tops just yet............I want to bed in some newer settings on my trend move signals ..........but I wont be far away from the pace .......and based on rerunning last weeks charts I should be looking much better this week with taking around 10-20% of the trades from last week tops.....based on volatility and also how many pairs I trade at the same time

re absolute tps / bottoms.........I know what I need to do to get it tighter.............I used to try to call turn/convergence trades here on my T2win thread many years back ..........but I want to get the more bread and butter trend trades running tomorrow smoother first........

the major adjustment I made through the week was finally accepting I HAVE to get more involved again with pair chart technicals...........for scalping I hav'nt got the luxury of higher TF's to keep me out of jail so instead of my traditional ratio of Strengthmeter 95%/charts 5% (basically referring to the chart just for entry price) ...........i'm now at around on 50/50 .........with the pairchart indicators just as important as my strengthmeter indicators.............

that's a HUGE change in my mindset but it will make the difference I need ......it means I have double the charts to watch but that's worth it

thanks again and I will be calling as much as I can especially on the greenback that is the backbone of my USD pair calls

N

 

[NVP]

hey all

heres last weeks usd action on higher TF's ........the FXCorrelator is attached here and also free below in my indicator links

the bearish Monday/Tuesday gradually retraced into a good bullish close Thursday/Friday

N

 

[MajorMagnuM]

HI N, what is the fastest ways ( links?) to get up to speed on your correlator? i need to be more in tune with your posts, atm i dont really understand this, and i would like to know how you are seeing the market!

 

[NVP]

HI N, what is the fastest ways ( links?) to get up to speed on your correlator? i need to be more in tune with your posts, atm i dont really understand this, and i would like to know how you are seeing the market!

hey mate ......I see the market though relative strength/weakness of the G8..............load up the FXCorrelator and set it on a 20ma as a general feel............for example run it on a 1 min and you will see who's rising (above Zero) and whos falling (below zero) verses your trades........

if I am looking to buy EU then I am waiting for the usd to be showing weakness below the zero and diverging south

(well i'm personally not as I have more bespoke systems for scalping ive developed........but you still get the idea and the signal from the free indicator here.....if that usd dude is falling below the zero I will probably be in a trade selling usd somewhere )

I follow the green usd the closest as I scalp the usd pairs mainly.....

take a look in the links below and also perhaps a couple of the later videos on here ...........

http://www.youtube.com/user/FXCORRELATOR

N

 

[NVP]

morning all.........


not much economic news about today so pretty clear sailing.........bank holiday in usa so will be light anyway........

already scalping............and chasing usd north ......since about 5.30 ish.......but I got in later so may pay for that delay

N

 

[NVP]

one of my newer settings is still not working as well as I want .......so still fine tuning as I go........

 

[NVP]

hmmmmmmmm

a little whippy at the moment ....I was late on the usd buy and got stopped and now just went short on usd and got a stop handed to me on buying AU........

2 down from 2 already.............a little frustrating

N

 

[Forexmospherian]

Morning N

I had the EU /GU and AU all bullish from after midnight - with the pullbacks starting after 3 30 am to 4 00 am

Will be looking to try and scalp buy all three from higher support areas than were they started their rises after midnight

Examples - EU in the 2660 - 65 areas and certainly above 50

For now EU is still a scalp sell under say 85

Got to pop out early but then around during the day

Have a good one

Regards

F

 

[NVP]

sold eu ......jees this is hard work so far.........

 

[NVP]

Morning N

I had the EU /GU and AU all bullish from after midnight - with the pullbacks starting after 3 30 am to 4 00 am

agreed........I would have been selling usd from around 1.20ish...... with no letup till 3.40..........nice nice run down for the usd

Will be looking to try and scalp buy all three from higher support areas than were they started their rises after midnight.........sounds reasonable to me......i'm trying already though to scalp USD buys (its only at 35% retrace on overnight falls ) so perhaps a little aggressive by me and I should wait for it to rise and then start falling again...........

Examples - EU in the 2660 - 65 areas and certainly above 50

For now EU is still a scalp sell under say 85.............attacked scalp sells twice so far at 79 and then 77 .......................both got stopped but i'm still playing with settings....such is life

Got to pop out early but then around during the day

Have a good one

Regards

F

shame I wasn't up through the night to catch the USD falls !

 

[NVP]

3 stop outs .............hmmmmmm............gonna be a long day !!

 

[NVP]

bought EU a while back .............frustrating as whilst i'm around B/e I can see GU at + 10 pips..................I spend a lot of time trying to correlate my entries ..........not this time though .........hmmmmmmmmmmmm

 

[NVP]

taken a few quid on that run up.....but way down on the day so far


early days

 

[NVP]

hey all ...from about 7.15 the usd has been a buy...........I was a little late to the trades and then got stopped out on 2 trades so pretty frustrated.................sill fiddling with LMAX to get the trailing stops to my liking....................................

using the FXCM uk live charts I must confess I feel a little cheated on those trades as LMAX seemed to enter later and retrace more than FXCM did .....and I got stopped ..then price moved back again into trend ............(hey shut up NVP you are whining..you should have entered at 7.15 !!!!)

such is life...........usd still moving north ..............not sure to jump in again as that wasn't my plan this week...........it was to run from where I liked it initially....which was 7.15 ish and EU is now 10 pips up and GU is 25 pips up ........

GRRRRRRRRRRRRR

 

[NVP]

usd now retraced back by 62% vs sessions usd Asian high

could be looking at some consolidation soon and perhaps some usd sells ........soon

F said earlier he liked EU buys back above 50's and its nearly there ....... GU is even more pronounced so poss some buys coming earlier in next 10-15 pips easily by low 70's (?)

meanwhile - I should have gone back into those EU/GU sells earlier ..........GRRRRRRRR

 

[Forexmospherian]

Hi N

Even short term traders need lots of patience

For me the EU as just been a sell from 2685 - 87 would have been best entry just prior to end of 7 00 am time window around 7 06 - 7 08 am

Now it 8 00 am and ideally I want to scalp buy above 2650 - maybe 2655 to 2660

I know then we would need above 87 to hold scalp buys on longer etc

Also if price drops under 2650 I would still hold 30% scalp sell and then look to buy again lower

Hope this makes sense

Also GU been a nice scalp sell last hour from high - now again look for scalp buys from supports

F

 

[NVP]

yep .......my usd readings are showing first reall over bought signals of the trading day ...........so I am looking at some potential turns here

 

[Forexmospherian]

I think if you can match fx correlator with levels and time then visualise the markets gameplay - that will assist you more than just chasing 1 to 3 pips etc

 

[NVP]

Hi N

Even short term traders need lots of patience

For me the EU as just been a sell from 2685 - 87 would have been best entry just prior to end of 7 00 am time window around 7 06 - 7 08 am

Now it 8 00 am and ideally I want to scalp buy above 2650 - maybe 2655 to 2660

I know then we would need above 87 to hold scalp buys on longer etc

Also if price drops under 2650 I would still hold 30% scalp sell and then look to buy again lower

Hope this makes sense

Also GU been a nice scalp sell last hour from high - now again look for scalp buys from supports

F

all makes total sence ...........and I would have been in behind you pretty tight around 7.15..........just balled up the bloody entry (I was talking to the wife in another room) and was then late in to moves ..........then the trailing stops hit .......:whistling

hey timing and xecution is all .............I need to lock that door when trading :smart:

N