Best Thread Correlation Trading - Basic Ideas and Strategies

[NVP]

as you say ..........its a great way of looking at the market using an MA of your choice .......................

I default setting to 20ma as its not tooo fast and not too slow

N

 

[MajorMagnuM]

hey mm

if you are talking about the ma on the FXCorrelator then the MA average reflects the G8 average

so the FXCorrelator set on a 20 (below) shows what individual CURRENCIES are strong (>20) and which are weak (<20) where the MA line is always the Zero

and if you want to add to the fun.............wherever 2 currencies cross is the 20ma crossovers you see on their pairchart !

if you change the MA setting you will then see how the currencies are doing vs that new MA......therefore some people like having 2 indicators going and looking for currencies sellin on BOTH fater and slower MA.s


see how damn weak the cad is on the 1 hr TF...been a sell since yesterday........at the moment the cad is selling on virtually all ma settings !!! !!!!

N

ty checking and going thru yr other vids now.
what is gu saying atM?

 

[NVP]

not to shabby when the usd is flowing nicely south.........I was loosing out on a lot of trades as Euro has been weak...so threw in a few AuD's..........missed a lot before this !!!

not bad ..just working up my win rate again
N

still cranking along ..............I'm still struggling to beat the commissions though and the odd stoploss/crash...............I need to make 60c to break even per trade roughly ......not sure if LMAX has a min charge though......this will help things when I step up the contracts

getting better though ...........although still not taking any runs ...........although not much around yet today

N

 

[MajorMagnuM]

gu !

 

[NVP]

ty checking and going thru yr other vids now.
what is gu saying atM?

ahhhhhhhhhhhh missed a monster eu buy ...........sorry dude talk later

 

[MajorMagnuM]

the gu map was the heads up

 

[NVP]

usd has dumped ..............took a few pips on 3-4 scalps but got stopped in the volatility as well

 

[NVP]

still cranking along ..............I'm still struggling to beat the commissions though and the odd stoploss/crash...............I need to make 60c to break even per trade roughly ......not sure if LMAX has a min charge though......this will help things when I step up the contracts

getting better though ...........although still not taking any runs ...........although not much around yet today

N

if I can just shake off a couple of nagging faults with my concentration ....and not take silly risks............this is starting to work fine for me .....................sure to many trades ......but I can slow that down with practice

I missed about $6-7 on 1 recent EU move so need to stay focussed

i'll tighten my trailer as well

N

 

[NVP]

30 mins of mayhem..back later.i'm going to run some numbers on my trades as well...

usd well sold now ...80% retraced back now from earlier Asian highs vs yesterdays lows

 

[NVP]

got to take a break ...........again if I wait the scalp wins come without to much hassle.......I like running Aud against the Euro .............usually either 1 or both are going against the usd moves

I have been up to yesterdays demo'ing running 6 pairs but its killing me ........so ditching the GU UJ Ucad and NU at moment ......swissie has never been in the frame

N

 

[NVP]

i'm learning what I need (single contract)

Breakeven

80%+ strike rate
making $1.50 on winning trades
not losing more than $2.70 on the 2 x stop outs per 10 trades
commissions costing me about $6.40 per 10 trades

if I can increase the % on anything above i'm making money .....with practice I can easily increase the average $$ profit per trade ..........regularly making $4+ on some ...and 1 decent run in a session of 15-20 pips will pay most of the bills........

and I will be very upset if I ever drop 3 losses in 10 trades costing me the full $2.70 each

F will have a fit if he reads this..........I have to let them run more !!!!

N

 

[NVP]

usd still falling .........the more I talk the less I earn !!!!!!!!

 

[NVP]

still 2-3 things bugging me on my indicators............I need a couple of things automated so I don't have to keep moving them manually

work for the weekend (or for jedster )
N

 

[NVP]

screens frozen again ...back later

 

[itspossible]

NVP when you go onto the live account will things be exactly the same as they are now re fills etc.

 

[itspossible]

This process reminds me of grinding it out online playing multiple low stakes poker tables.
Only playing great hands.The commission gets in the way though just like your platform.
I used to do that a lot but you would often play for hours and just break even.

 

[NVP]

difficult to trade seeing this .......back later

 

[NVP]

This process reminds me of grinding it out online playing multiple low stakes poker tables.
Only playing great hands.The commission gets in the way though just like your platform.
I used to do that a lot but you would often play for hours and just break even.

and betfair baccarat

 

[NVP]

NVP when you go onto the live account will things be exactly the same as they are now re fills etc.

will find out as soon as ready and happy with platform.......

ive had a few frozen prices and some strange fills and spreads (ie where i'm say $1 down and I pressed well before it moved - however that's using the FXCM live platform to trade the lmax screens ............I would migrate indicators across to LMAX MT4 platform first)

 

[NVP]

....heres my track record to date ......I don't need fancy ratios just the facts !!

just out of interest today even with disasters was by best to date .......

TODAY

142 trades 72% win rate and I was making $1.40 per win and only paying $1.66 on my losses .....................damn commission mopped up this though and left me down £12 today

also Ive only traded AU and EU..........and guess what ........I am profitable on EU even after Commissions..............6 cents per contract per trade........that AU really let me down a couple of times today with some funny fills and expanding spreads .....Hmmmmmmm

such is life but getting better ..............I still have only had just 1 win of $10 or above (and only 4 on $10).........so plenty to work on re letting profits run (as F always says) ............

my defence is getting tighter again now , my win rates are acceptable ..........but I need more profit runs to make this pay !!!

N