Best Thread Correlation Trading - Basic Ideas and Strategies

[NVP]

Hi zaprietas,

NVP is "off duty" until the morning so I'll get some questions to you to see if there is anything anyone can do to help you....

Are you wanting real time data fed into MS Excel or EoD data? If its rt data, have you considered mt4 API as a means of driving data to your worksheet? I did see some traders over on forex factory doing something like this and from memory it was a thread within the programming section of forum.

We have seen a quite significant divergence of some previously good correlated price action as of late, probably caused by enormous financial concerns in Euro zone which are spilling over to the UK and USA as well, so you will need to take that into account. There was quite a good site which used to regularly update correlation between different currencies, will try and find out what this was for you.

Its best if you could explain a little more what you are wanting to achieve here so we can all scratch our thick heads and help you out!

Simon.

hi all

Ouanda is good or correlation stuff I recall....and simon agrees with me that Foex factoy has more stuff on programming than here......

N

 

[NVP]

jees...........


my bloody odl feed has stopped again........I suppose will need to set up an account with them.........

I have another pc rollin so you dont get out of my morning drivel that easily.......

N

 

[NVP]

mornin all............

back to my backup pc then whilst i get odl to reinstall my mt4 on the laptop

markets were flattish overnight which fed through to the forex G8.........overnight breaches will be key today so watch them.....

and.....be careful out there :smart:

N

 

[NVP]

heres the calender from FF.....

a mixed bag of news releases today........dont hold your breath for any good news though........for price behaviour its all about whats been priced in by news time...(and what has not)

N

 

[jrplimited]

Hi N and whoever else,

Straight into the bun fight....

GU; Short opened on 08:20 bar and price turned quickly around then dropped again slightly but 08:50 bar's wick caught SL for a nasty 21 pip loss. Second trade sell stop entered at 56074 and price moved away from this but momentum kicked in and was filled during 09:30 bar as price moved sharply lower, stalled on 0945 bar then re-tested low again and popped up once more with 10:00 bar taking out TS for 18 pip profit. Waited to see if price would take out sell stop at 55834 and 11:15 bar came within a few pips of this but price couldnt follow through and instead went into a narrow range, so order removed as time was going against me.

EU; Long opened on 08:40 bar and price faded away then came back again weakly and just fell over with 09:00 bar taking out SL for 18 pip loss. Second trade buy stop at 35678 filled by 09:30 bar but price retreated down below entry point, then scrabbled upwards again and went on an up / down jerky ride northwards until eventually taking out tight TS during 10:30 bar for a miserable 12 pip profit.

EG; First trade sat for ages with buy stop at 86854 that nearly got hit by 08:55 bar but was easily filled by large 9:30 bar as price suddenly burst into life and drove upwards. Tracked price as local high reached during 09:55 onwards bars and 10:15 bar took out TS for 23 pip profit.

Another weird day, what on earth is happening out there? At least with the fab three going into sideways mode late this morning I was able to finish early for a change, now all I have to do is somehow keep those itchy twitchy twigger fingers away from the order buttons.... Cue a bit of honey-do tasking perhaps? Oh-oh, that usually ends in major disasters for me!

Trade well and regards,
Simon.

 

[NVP]

jees what a day at work..............will try to post when i can....

 

[NVP]

Hi N and whoever else,

Straight into the bun fight....

GU; Short opened on 08:20 bar for a nasty 21 pip loss. Second trade sell stop entered at 56074 for 18 pip profit. Waited to see if price would take out sell stop at 55834 and 11:15 bar came within a few pips of this but price couldnt follow through and instead went into a narrow range, so order removed as time was going against me.

EU; Long opened on 08:40 bar for 18 pip loss. Second trade buy stop at 35678 filled by 09:30 bar for 12 pip profit.

EG; First trade sat for ages with buy stop at 86854 for 23 pip profit.

Another weird day, what on earth is happening out there? At least with the fab three going into sideways mode late this morning I was able to finish early for a change, now all I have to do is somehow keep those itchy twitchy twigger fingers away from the order buttons.... Cue a bit of honey-do tasking perhaps? Oh-oh, that usually ends in major disasters for me!

Trade well and regards,
Simon.

Hi mate..............jees what a mixed bag...........lucky I was not able to put my size 15's into the ring this morning then.....

N

 

[NVP]

Hi all

heres a quick message from the trenches based on what happened so far .....amazing how every call I made would have been good when I am in hindsight mode***

JRP notched up most pips following the 9.15am wave of action - selling G/U, Buying E/U and buying E/G......

The mans a genius !!! :smart:

N

**** seriously folks....go back and look at the gold , WS30 and my corrie 1000/1 standard 5m chart.....its all there to see....no smoke or mirrors or magic buttons......just watch the charts and wait for the correlation to come together !!!

 

[NVP]

Hi all

remember the 3 ducks and our corrie version ?

remember phreddy our 3 duck champion who used to post from his luxury summer home in the far east.....?

where have they gone ?

is this the end of the 3 duck corrie ?

dont look at me

N

 

[NVP]

Seriously folks i get a lot of pm's asking for more information on how to use the FXcorrelator or is there a simple setting that guarantees profitable trades so yuo never lose ever.....

I have been playing with strengthmeters for a long time now (hours even) and the FXcorrelator on 1 certain Setting does guarantee profitable trades.......

Basically I would recomment that you u

 

[jrplimited]

Seriously folks i get a lot of pm's asking for more information on how to use the FXcorrelator or is there a simple setting that guarantees profitable trades so yuo never lose ever.....

I have been playing with strengthmeters for a long time now (hours even) and the FXcorrelator on 1 certain Setting does guarantee profitable trades.......

Basically I would recomment that you u

Hells teeth N!

Just when you were about to disclose the holy grail.... Quick everyone, send N some dosh so he can get the internetty meter thingy dongle cranking again!

Simon.

 

[NVP]

the signal is weak and keeps (crackle crackle).............fading in and out......

I cannot believe it just as the holy Grail was mine.............(fade fade)..........

hello.....can anyone here me.......its dark in here.......

ooohh..... whats that big hairy thing over there ?

 

[NVP]

sorry - normal service resumed tomorrrow.......

work is a pig this week and its getting on top of me.....(sid james laugh)

later............
N

 

[NVP]

calling the GBP this week.....

hey all..........

even the best were getting their trade calls a little wrong this week.......also looks like no one can find a way to correlate Euro to GBP accurately.......

to be honest I can see GBP holding firm wednesday (on piccy) but usd rose so a sell GBP buy USD would have made a few pips......then thursday i'm seeing major dowward moves on the ole GBP with usd rising yet again......just like good comedy though timing is everthing and perhaps these guys were calling the sell GBP when the chop arrived.......c'mon everyone what has the corrie taught us about the GBP currency ?

its a rollercoaster !!!

and while we are on these subjects whats a major law of trading ?

all together now..............trade what you see, not what you think

these guys certainiy publish interesting articles though so worth signing up
N

 

[NVP]

early mornin all.........gotta go in early today (early cotton totin shift)

heres the action (or lack of it)

markets generally down thru the night.....but currencies flat

if anything markets all sub 20ma since 6am ish driving usd up and eurotwins down.....

not much to play with at present but next hour will liven up as usual

trade what you see and be careful out there.......also remember fridays can be
unwind days so things can get a little freaky :smart:

N

 

[NVP]

lot of early euro and gbp new so be aware......

 

[jrplimited]

Hi N and all else,

Cant believe Friday has come round yet again, time is going quicker than Dollars / Pounds leaking out of central banks! OK onto what I saw this morning:-

GU; First trade had buy stop set up nicely after 08:00 bar but quickly had to change this to sell stop at 54016 as 08:05 rapidly changed direction and punched straight through this. Price sort of floated for a bit then moved quite nicely down but found a local low with support and during sharp 08:45 up bar took out TS for 16 pip profit. Watched price rise upwards then slowly roll over again and second trade sell stop set at 53884 was just hit by 09:25 bar and following bar shot downwards only to reverse and close near its opening price - obviously a bit of over reaction to news there. Price dropped after this then rose slightly and finally dropped again to new local low but found some support from somewhere and rose upwards until weird tall wick 10:15 bar took out TS for 8 pip profit - two wins on the bounce equals stop point for me trading wise for this pair.

EU; First trade entered short on 08:25 bar but price retreated upwards and 08:45 bar took out SL for 18 pip loss. Second trade entered long at 34919 on 08:55 bar and this time price actually moved with me (gasp of sheer amazement!), found a top on 09:10 bar and moved down, then back up again to re-test this again with a lower high then just slid down the slippery slope to take out TS during 09:55 bar for 7 pip profit. Price literally fell asleep after this.

EG; Opened long on 08:10 bar at 87531 and, of course, price went into shallow retrace after this but recovered within a few bars and slowly but surely started to wind its way northwards. Watched that strange 09:30 bar jump right up then close half way down its range (was there some news here?) then run up again followed by another retreat, then another run up again to test high print without any real conviction or follow through. TS taken out during 10:10 bar for 20 pip profit, couldnt find any other setups after this.

Bit of a woolly day all round here especially with that big chop on EU trade, hopefully you will all be able to capture any prominent moves during this afternoon's session and I might just sneak back to pcs and join in on any fun.....

Trade well and regards,
Simon.

 

[NVP]

Hi N and all else,

Cant believe Friday has come round yet again, time is going quicker than Dollars / Pounds leaking out of central banks! OK onto what I saw this morning:-

GU; First trade had buy stop set up nicely after 08:00 bar for 16 pip profit.
second trade sell stop set at 53884 was just hit by 09:25 bar and for 8 pip profit - two wins on the bounce equals stop point for me trading wise for this pair.

EU; First trade entered short on 08:25 bar for 18 pip loss. Second trade entered long at 34919 on 08:55 bar for 7 pip profit. Price literally fell asleep after this.

EG; Opened long on 08:10 bar at 87531 for 20 pip profit, couldnt find any other setups after this.

Bit of a woolly day all round here especially with that big chop on EU trade, hopefully you will all be able to capture any prominent moves during this afternoon's session and I might just sneak back to pcs and join in on any fun.....

Trade well and regards,
Simon.

hey mate.............not bad at all for a choppy day ........

N

sorry - absolutely stuffed at work today all....cotton is piling up.....yes boss comin boss......

 

[NVP]

the best corrie setting - ever ?

hi all

Question - what has santa claus and the Trading holy grail have in common :?:
Answer......they both wear red outfits.....(awe c'mon )

Despite my wacky madcap moments yesterday (sorry ) where I was "discovering" the holy Grail as well as losing my mind over work.... it does raise a question re the corrie and its best ever setting

since we are not running the 3 ducks much now......(I have trouble posting the
morning commentary now....let alone more frequent updates !) I wanted to share the one I run most in the background to give me a directional heads up on the G8

now remember...the corrie does not totally run the show here at corelation central.......its great to give us individual currency action but remember the other ingredients I am gradually introducing here

Gold
DOW30 (ws30)
Plus other markets (espec Nikkei) for the overnight action.....

are all needed as jigsaw pieces to come together for the trade calls.....

you will notice that my coverage of FTSE , DAX and OIL has diminished.....because frankly I havnt the time..... and the 2 dudes above cover the action on the Tag Team just fine for me.......its bad enough following all the guys above without introducing more drama.....eg why has the dAX fallen but Dow30 furtures are holding ?? etc etc

so in the next post i'll give you my ideal setting..............honest :whistling

N

 

[NVP]

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