Best Thread Correlation Trading - Basic Ideas and Strategies

[NVP]

well usd has been trying to turn ..............and I have been sniffing since abut 8.09

even though it has been patchy if you try to focus on secondary currency's that are on the sell side this alleviates any excessive losses ...............and in fact in most cases retains B/E gains................

so GBP was a sell and would have provided pips even with a stalling usd

then around 8.35 I likes selling euro and swissie .......(mentioned on F's thread) ...again no losses there.........

then when the usd does turn you really get the benefits !

N

looking back now on the 15m TF can you see how I was attacking usd buys in an area where actually the usd did produce some bull action for a coulple of hours ?

sure it was against the long term sell grain ..........but scalping is 1min TF's ........has no idea or respect for higher TF's !.....scalping is scalping

naturally selling was more prominent later on .......so scalping would have been easier into the sells later....


N

 

[NVP]

morning all ......

usd after some falls is rising .................heres the 15m TF on the USD index

N

 

[NVP]

scalp trading the usd for me is as simple as ABC .......


here they are below on my USD index ............my own signal/indicators are hidden

A = earliest signal for me that usd will have a burst of buys
B = I'm getting conformation that it may be sustained
C = rock solid signal of continuation

this goes on 24/7 on any TF in my systems .......I simply have to :-

1) decide if I react to the signal on usd
2) chose a partner currency to trade

in this case the Euro was the sell currency for me (top area)...would take a lifetime to explain why I chose it vs others........anyway you can see that it was ALL gravy wherever I chose to enter ........

as Forexperian says the devil is in the detail ...............but I thought I would share how I look at scalping for usd pairs

N


PS - Forexperian has an amazing ability/experience to call things at A......this has many benefits ....including you can go to very very low stop levels and also therefore leverage your trade much higher re returns possible - 10/10 F !!!

aht

 

[NVP]

sometimes I never get to C ................that happens a lot ............

A , B , A , A , A, B , A , B ..............when usd is chopping in each direction......

that's the skill............you cant press the damn trade button everytime ..........you will burn pips like crazy and dilute any profits made on the winners.........

that's the art.................that's the Holy grail........that's years of practice........

N

 

[NVP]

heres 4 A signals ...........2 up 2 down

sure its just on the EUROpair............but only history tells us what are successful............so how do we try to increase the odds...?

jees this trading stuff is hard ................

that's not what those nice vendors at "make_millions_a_day with_just_10_mins_of_training.com tell us is it ?

N

 

[NVP]

heres the conundrum

look at the second A signal ...............all that rise on the USD ...but the EU only drops moderately ????

EH ................???

wot no profits ??

that's the REAL secret ............you can get on the USD rollercoaster and ride a nice scalp trend...............but boyoboy you need 2 to tango and that secondary currency selection is key to sustained profits ........

if you watch me call on F's thread you will sometimes hear me ranting about currencies stealing my trade pips ............this is what I mean here on this trade ..........the EU should have bagged me 7-10 pips on this move .........

BUT

other currencies would have moved more south than Euro ...I picked the wrong currency ........................that's trading ............I cant trade 7 usd pairs EVERY time !

in fact I didn't lose .............if you see the EU still FELL...........but I would have been B/E....................

so if I can hold to B/E or -1 , -2 on the poor calls ....and bang in 3-5+ on the nice moves ...I am quids in most days

that's my aim.............we all do it different ............F has his own unique style that NO ONE can replicate as he has many years of experience to back it up ...

the holy grail of trading is to

1) perfect your system..............(many years)
2) then execute every trade with 100% excellence/consistency/quality (many years)
3) and let the increasing sample size of your trades do the rest .......profitability will come over time (many years)

its not 10 mins on a milliondollartrader.com training website........sorry !!!

BE the casino..............Casino's have a small % win edge on every card deal,dice throw,roulette turn,poker hand .......and with millions of events a year they gradually rake in the money....the sample size increases and simple probability bias then does the work............they cant lose ...in the long run

N

 

[NVP]

ok got to scoot...............hope this helps a little re my mindset and style

N

 

[NVP]

someone e-mailed me about my goldmeter...........well the answer is its chugging along nicely ...........any TF ............I just don't bother with it much as i'm a scalper

N

heres 2 moderate signals in last few weeks

http://www.trade2win.com/boards/com...50-fxcorrelator_goldmeter-13.html#post2488118

 

[NVP]

buying usd all morning ................heres where I would be in action

nzd is just the chart I had up.............I would not really go to selling NZD much during London session but you see some pips were around even on this pairing

all I need to do is limit losses to 2-3 pips and let the winners run .......

N

 

[Forexmospherian]

That was a busy 10 mins

Midday - all slow and flat

2 -3 mins later moves showing

7 mins later - 3 pairs moved up in total over 100 pips

No did not get all 3 - only 2 - and extremely lucky on EJ

Hi N

Check out Midday - 12 00 pm for 10 mins moves

EU / EJ / UJ / and even GU and AU

Great quick moves -

Regards


F

 

[NVP]

Hi N

Check out Midday - 12 00 pm for 10 mins moves

EU / EJ / UJ / and even GU and AU

Great quick moves -

Regards


F

forexperian is 10000% correct ................:smart:


if you look at my earlier posts I describe the ABC I trade ......heres the 1min TF (scalping) .......the ABC's of a usd sell signal are seen and from 12 oclock all 3 were profitable signals ..........even on NU which is the chart I had up earlier .........theres over 20 scalp pips at A and even 9 pips at C ...........

F would have been aggressively hunting usd sells from 12 oclock onwards ..............jees hes good ....that's so early it hurts !!!

N

 

[NVP]

Saw that one too. It was a good one!

well done dude .........

 

[NVP]

nice usd bull action ........

 

[NVP]

morning all ........

been mainly selling usd in scalp conditions .............some nice bull action on Swissie and gbp

N

 

[NVP]

been trading quietly for while ...........usd is flying north .....some great scalping !

N

 

[NVP]

jees its been great today ........usd has trended nicely...........then its just a matter of riding the best pairing to optimise the usds moves......

heres a great signal earlier ........around 2.15 the usd was rolling north ..........I was playing the Europeans and heres what I saw by attacking them .........

see the green line ?.that's the usd index ...........ive overlaid my gbp index and also the euro index on appropriate charts .........

its damn hard to call which currency will go against the usd (ie best trade) without hindsight !!! .........best bet is if the usd is in full flow you are looking to do ok whatever pairing you use ...........otherwise you have to call it pretty well........(practice makes perfect)

the euro was pretty disappointing during this period..........see how the blue line keeps rising ?

that's crap ............if the usd is rising and the euro starts rising then the only chance you have to make money on an eu sell is if the usd is rising faster than the euro .........which it kinda did......

YOU NEED CURRENCIES TO MOVE AGAINST EACH OTHER !!!! - ie to be inversely or negatively correlated to each other ......currencies moving together suck....no profits !!!

GBP wasn't perfect but at least it tries ............see the red line .........it chops a little (as GBP does) ....but generally it holds pretty south after that nice initial dive (where most pips are made)....

the end result in this 50 min session is both trades make money .....but the GU mullers the Euro ....because it stayed south for longer and deeper.....and the usd is a dream move.........make the most of them .....!!

I havnt shown the Yen ..............now that dude absolutely slammed today .......U/J is not my #1 pairing but boy to day it delivered ...see Forexperians thread as well on that

N
ps ....no prizes for the mistake ......

 

[Forexmospherian]

Hi N

I have missed out a lot today - was not around much for the UK afternoon session after 2 30 pm and this morning was just difficult on a lot of pairs - other than UJ and Ucad for me

Notice after 3 00 pm and 3 30 pm - even the EU as been readable with nicer PA etc - and most pairs have shown moves intraday trader should catch.

In fact as I type - EU at its low of the day at 1280 - which with 1270 is also a support area. - looks as though the market must have though the London boys have been having it too good - and time to give some action to the latercomers

Hope you have done OK - I made over my daily target - but still a disappointing day for me - the dog's walk as cost me some big pips ( lol)

All the best


F

 

[NVP]

Hi N

I have missed out a lot today - was not around much for the UK afternoon session after 2 30 pm and this morning was just difficult on a lot of pairs - other than UJ and Ucad for me

Notice after 3 00 pm and 3 30 pm - even the EU as been readable with nicer PA etc - and most pairs have shown moves intraday trader should catch.

In fact as I type - EU at its low of the day at 1280 - which with 1270 is also a support area. - looks as though the market must have though the London boys have been having it too good - and time to give some action to the latercomers

Hope you have done OK - I made over my daily target - but still a disappointing day for me - the dog's walk as cost me some big pips ( lol)

All the best


F

when I was around I did ok.......had to go for an interview between sessions

N

 

[NVP]

Hi N

I have missed out a lot today - was not around much for the UK afternoon session after 2 30 pm and this morning was just difficult on a lot of pairs - other than UJ and Ucad for me

Notice after 3 00 pm and 3 30 pm - even the EU as been readable with nicer PA etc - and most pairs have shown moves intraday trader should catch.

In fact as I type - EU at its low of the day at 1280 - which with 1270 is also a support area. - looks as though the market must have though the London boys have been having it too good - and time to give some action to the latercomers

Hope you have done OK - I made over my daily target - but still a disappointing day for me - the dog's walk as cost me some big pips ( lol)

All the best


F

blame the dog ?....really ?

hahahahahahhaha

N

 

[NVP]

morning all...........my pc is wheezing like a 200 tab a day sailor............

trying to reduce memory usage (of machine and operator)

N