Best Thread Correlation Trading - Basic Ideas and Strategies

[NVP]

2678 top of EU ?

 

[NVP]

been tied up on agency calls ..............will try to come back later

bad afternoon as I tried to scalp whilst talking to some agencies .....doesn't work

N

 

[Forexmospherian]

Hi N

What a laugh today ;-)

A case of poacher turned gamekeeper - or maybe the other way round in Tar's case

After constantly being criticised and dissed for using 5 pip stops and blogging scam - Tar does a great job of copying my way of trading

He's now wearing a different cap and can never now say retail traders cannot do 25 -50% per month returns

Take note of what he did N - will check all his trades and then will tell you what he has been doing

I dont think he took 10 trades today - but claims 200 pips and 39R

See its impossible to make money retail intraday FX trading according to the old school

They just dont want anyone to know how it's done N

No wonder they don't like me - lol

Regards


F

 

[NVP]

understood F....................most things in life are possible if people apply

intelligence
enthusiasm
innovation
dedication
focus

and last and most importantly the complete and utter defiance of people who tell them it cant be done ..........and to stop being a fool in trying..............

and to ignore the criticism and abuse when the many many failures and setbacks (inevitably) occur in perfecting and creating those new paths ...........

this is more written for me than anyone else at a point where I have been unemployed/redundant for 3 months now..................as time goes on and I realise that traditional employment from the sources/industries that gave me consistent and lucrative work over the last 35 years is drying up (ageism/work location/outsourcing/work life balance) ....I need to get my act in gear and re-invent myself

trading has been that main focus/opportunity for me in the last few years but as you always say the devil is in the detail ...............and that last few yards is BLOODY hard in the scalping game ..I didn't realise it would be this hard after a few years of moderate success in higher TF's .....

I am lucky................I inherited from my family a dogged ,determined and begrudgingly obstinate streak that makes most people flinch...........I just don't back down.........never .........many times that didn't really help things....but other times it did........

so I wont from this particular challenge...........got nothing else in the tank at the moment anyway ...........so bring it on

N

 

[NVP]

heres the 20ma for the week ............usd has had 2 great swings this week..........a lot of bear pressure now

N

 

[NVP]

usd has had a great bull run for 2 days now ................the Asian session gave hope of even more glory .........but its stalled at present .....and salvos already fired re new lows for the day

looks like USD coming under pressure

Aud and cad are the buys

 

[Forexmospherian]

understood F....................most things in life are possible if people apply

intelligence
enthusiasm
innovation
dedication
focus

and last and most importantly the complete and utter defiance of people who tell them it cant be done ..........and to stop being a fool in trying..............

and to ignore the criticism and abuse when the many many failures and setbacks (inevitably) occur in perfecting and creating those new paths ...........

this is more written for me than anyone else at a point where I have been unemployed/redundant for 3 months now..................as time goes on and I realise that traditional employment from the sources/industries that gave me consistent and lucrative work over the last 35 years is drying up (ageism/work location/outsourcing/work life balance) ....I need to get my act in gear and re-invent myself

trading has been that main focus/opportunity for me in the last few years but as you always say the devil is in the detail ...............and that last few yards is BLOODY hard in the scalping game ..I didn't realise it would be this hard after a few years of moderate success in higher TF's .....

I am lucky................I inherited from my family a dogged ,determined and begrudgingly obstinate streak that makes most people flinch...........I just don't back down.........never .........many times that didn't really help things....but other times it did........

so I wont from this particular challenge...........got nothing else in the tank at the moment anyway ...........so bring it on

N

I 100% know I can get you there - Ask MM and he did not have all your years behind you

We still got to get you pacing and only looking for say 10 -30 trades max a day

All soft stops need to be from 3-7 pips max

All wins - need to be over 3 pips and ideally your targets are 5 pips to 20 pip trades

Thats the blueprint

Now I will show you how you will do it



Regards

F

 

[NVP]

I 100% know I can get you there - Ask MM and he did not have all your years behind you

We still got to get you pacing and only looking for say 10 -30 trades max a day

All soft stops need to be from 3-7 pips max

All wins - need to be over 3 pips and ideally your targets are 5 pips to 20 pip trades

Thats the blueprint

Now I will show you how you will do it



Regards

F

thanks F ....................you are helping a lot of people here at T2win.....................all they have to do is try as I have already explained :smart:

got to see some agencies but back online later

good hunting

N

 

[Forexmospherian]

Hi N

Finished early today - basically after 3 30 pm and the latest wave changes on many pairs

Had a great day - even this afternoon was good

What I noticed was the yen weakness prior to US session and the EJ / UJ / GU all carried on rising most of the day

I suggest you have in your pairs list at least one of these yen pairs - for me the GJ is the beast - the UJ normally too slow - but OK and the EJ is normally in between

Most of my pips have come off 30% scalp /swing trades off all 3 in the afternoon - along with scalps more on EU and GU

Would be interested to see if your yen correlator would have kept you in all 3 today - because there was a potential 480 pips of which over 350 pips were available on part stakes with stops locked in small profits early morning

So on my list now - 1 - Pacing - think just 10 -30 trades over a day or over 5 -7 hrs
2 - Fine tuning all scalp wins to over 3+ pips and stops under a max 7 pips
3 - using your dollar and yen correlators to keep you in part stake trades with stops in profits already

Get that resolved and sorted this next week - and then you will be well on your way to next stage


Regards


F

 

[NVP]

morning all

usd is neutral and in truth pretty dead ................lets see what happens next

N

 

[NVP]

Hi N

Finished early today - basically after 3 30 pm and the latest wave changes on many pairs

Had a great day - even this afternoon was good

What I noticed was the yen weakness prior to US session and the EJ / UJ / GU all carried on rising most of the day

I suggest you have in your pairs list at least one of these yen pairs - for me the GJ is the beast - the UJ normally too slow - but OK and the EJ is normally in between

Most of my pips have come off 30% scalp /swing trades off all 3 in the afternoon - along with scalps more on EU and GU

Would be interested to see if your yen correlator would have kept you in all 3 today - because there was a potential 480 pips of which over 350 pips were available on part stakes with stops locked in small profits early morning

So on my list now - 1 - Pacing - think just 10 -30 trades over a day or over 5 -7 hrs
2 - Fine tuning all scalp wins to over 3+ pips and stops under a max 7 pips
3 - using your dollar and yen correlators to keep you in part stake trades with stops in profits already

Get that resolved and sorted this next week - and then you will be well on your way to next stage


Regards


F

hey F

yesterday - the yen peaked at daily high around 8am...then a steady decline through the day

usd peaked around 12.30pm..........likewise it then fell steadily alongside its tagteam partner ............something we see quite a bit as these guys do run together a lot ..........something ive always used on this thread from day 1

that's why UJ is such a difficult pair to trade.....In many signal situations they are running is the same direction........ so all you are doing is trading the momentum differential .....a very dangerous and low probability strategy

GJ is playing with nitro...........no G8 pairing is as volatile .........EJ is a nice compromise - I agree

I have no issues with my Strengthmeter approach ............although recently to apply scalping strategies has been more challenging I admit ..and I have been experimenting a lot over last 2 weeks that will generate volatile performance


N

 

[NVP]

hey all

out to see some agents and also to meet up with an old mate re some consultancy work

back later
N

 

[NVP]

usd buys were prevalent from 7.40 ish .....then gradually faded and I switched to selling it from around 8.50...which is still going nicely

later
N

 

[NVP]

when the markets are running hot the key is identifying quickly the big moving currencies and getting on them with Currencies showing the most powerful (opposite direction) momentum

I follow the usd primarily so if it does fire up on a bull or bear run only 2-3 currencies will probably be worth trading ...........even though all usd pairs may be showing a bias it will always be 2-3 tops that are really milking the move .....the others are passengers

clearly this pattern is continually changing ..so if we were lucky enough to see a 2-3 hour move on usd I can guarantee that many currencies will be taking turns in that period to bank pips ............its never a uniform game

you can generalise and say that on any USD move there are mainly 2 camps worth initially looking at as the main opposing teams to usd's direction

1) Europeans
or
2) Aussies

then you have the yen and the Cad which are much more unpredictable

it takes a hell of a move with cad and yen also leaning in usds direction to get the Europeans AND the Aussies all moving in same opposing direction to the USD .....normally 1 camp is in charge

unless the Euro and GBP are playing silly buggers themselves and the patterns become more complex

N

 

[NVP]

some good correlation links here whilst I think of it

N

http://www.trade2win.com/boards/indices/193598-market-correlation-variance-2.html#post2420226

 

[NVP]

I just found out today that a dear dear old mate passed away after a long illness in Australia (56)

Macka mate .............I will never forget the crazy couple of years throwing ourselves and other people off of buildings back in the days ..........god bless and have a couple of coldies for me .......top of the world mate.........top of the world

N

 

[Forexmospherian]

I just found out today that a dear dear old mate passed away after a long illness in Australia (56)

Macka mate .............I will never forget the crazy couple of years throwing ourselves and other people off of buildings back in the days ..........god bless and have a couple of coldies for me .......top of the world mate.........top of the world

N

Shame to hear that and at 56 yrs old - no age really.

Still - to even make that age after base jumping is good - surely got to be one of the riskiest dare devil sports out. I remember watching a TV programme following one guy around London - jumping off some high rise buildings - London Hilton hotel - forget whether next it was the Post office tower or the Shard before it was finished

Bravo if you tried it N - never one down on my bucket list - only ever done a bungee jump and paragliding over water - seemed more sensible

 

[NVP]

Shame to hear that and at 56 yrs old - no age really.

Still - to even make that age after base jumping is good - surely got to be one of the riskiest dare devil sports out. I remember watching a TV programme following one guy around London - jumping off some high rise buildings - London Hilton hotel - forget whether next it was the Post office tower or the Shard before it was finished

Bravo if you tried it N - never one down on my bucket list - only ever done a bungee jump and paragliding over water - seemed more sensible

hey F

I bought into Macka's company in the late 80's in Aus and we certainly had some hairy times .............and I've worked with that base jumper in new Zealand and others on various stunts .........and they truly are insane..:whistling

Macka was one in a million.................half Scottish half aussie....ex aussie sas.....think of coolhand luke meets Brian Coghlan (cocktail) meets braveheart and that's him .........

charismatic raconteur, big drinker , smoker and womaniser as well as being the hardest and yet softest ******* I've ever met in my life at the same time ............taught me about real life after I escaped from normal life in late 80' to go travelling (office job straight from school, accountant , married with semi in Epsom....meltdown)........

one of lifes natural leaders that could have achieved so much more financially in life he had listened to his partner who wanted to create a JV adventure company consortium to service the lucrative Japanese/chines market on the gold coast.............

but he would'nt sell out....... and then eventually stitched his partner up by not getting him back into Aus after some visa problems

I wonder what happened to that Brit ?

anyway I wouldn't change a minute ........

Cheers Macka again .........on ya mate

N

 

[NVP]

morning all

usd is weak overnight but currently rallying.........I'm trying to work in some European sells to the usds bounce

N

 

[NVP]

nice usd move since 6.15ish.....I should have majored on the AU sells .....instead ended up b/e with some European trades that disappointed