Best Thread Correlation Trading - Basic Ideas and Strategies

[NVP]

Many thanks for this great system. It is far different from what i have seen and works pretty well.
Have a great day and profitable trades. Sorry for my bad english, just wanted to say thanks. 🙂

thank you in return - you are very kind 😉

 

[NVP]

It is good to have control and just take the money when it is there! 🙂 👍

yep - 👍👍

 

[NVP]

hey all ##

I am still around ...............had a few glitches yesterday on my laptop so rebooted and trading low contract bets today till all feels ok .............looks like its rolling again

nice moves on EU in last hour ............just missed a corker whilst posting

Grrrrrr
N

 

[NVP]

Did you closed all or your also trading the gaps?

I scalp 1 trade at a time .............nothing open for more than 2-3 mins

N

 

[NVP]

hey all

I will try to post some observations on the week this weekend .......hopefully

I was trading last week at times

been doing my weekly roundup and made 938 pips ...........

even with a very poor rate of wins 65% / losses 35% its not bad overall...........but I can do much better than this so disappointed with my performance at times.......poor concentration and some silly finger jabbing on scalps at times cost me dear ..............for example I chased the last hour or so last night and got killed on the low volatility chop !

N

 

[NVP]

as promised heres last week through the eyes of my

usd index (green)
fxcorrelator on a standard 20ma setting

to be honest on the 1hr charts below you can see where the usd was moving..... and indeed where the big opps were for anyone to trade it against other diverging/opposing currencies to make money

USD green - Wednesday it dropped nicely and Friday it was swinging like a drunken sailor......

EURO blue - had a nice week with plenty of bull runs (70% of my scalp trades were EU buys)

GBP red - epic Monday

my focus now is scalping usd pairs (mainly EU) .....so really I like to know what the bias is for the usd but I am taking trades up and down way way inside this 1hr timeframe .........

my best day was actually Thursday (300+ pips on EU) on a week that overall yielded 900+ pips on around 800 scalp trades........

I am concerned with my continued overtrading behaviour but am working on it ........in the past when I tried to change my approach the performance really suffered ........

slowly slowly catchy monkey.................I cant complain about 900+ pips but clearly at only slightly over 1 net pip gain per trade means my commission levels are horrendous ........so watch this space ...I put some more rules in place last week to try to let the trends run more freely without multiple exit/entries on bull/bear runs

I also had some laptop issues but that's a poor excuse for not getting the 1,000 scalping pips in a week ...I will be pushing hard to hit the 1,000 next week

Wednesday and Friday I was more tied down on other work so less time at the charts for those tasty usd runs ........frustratingly !

cheers
N

 

[MajorMagnuM]

hey all

I will try to post some observations on the week this weekend .......hopefully

I was trading last week at times

been doing my weekly roundup and made 938 pips ...........

even with a very poor rate of wins 65% / losses 35% its not bad overall...........but I can do much better than this so disappointed with my performance at times.......poor concentration and some silly finger jabbing on scalps at times cost me dear ..............for example I chased the last hour or so last night and got killed on the low volatility chop !
N

amazing man!

 

[NVP]

amazing man!

thanks mate - but plenty of room for improvement MM.........i'm bleeding pips all over the place 😎

 

[NVP]

morning all

I just cant get the feel of the mornings EU trading so far ...............very gritty

I'm about 100 pips up but paid out a lot of commission as usual ....just cant get a decent run

taking a break
N

 

[NVP]

still cant get going today .........my scalping is very very gritty and i'm giving to much away

290 pips up today but as already mentioned I pay lot of commission as that pip haul came from over 200 scalps

Grrrrrr.............

and just missed the last 20 mins of excellent scalping .............

such is life

later all
N

 

[NVP]

90 pips up this morning selling EU on a superb 8am bar run....

taking a break for a while
N

 

[NVP]

140 pips up now on a superb EU morning ....really taking a break now ............news at 9.30 on GBP

 

[NVP]

Hey, do you have any recommendation on scalping knowledge? I would like to open my trading horizons and want to learn a bit more on the matter!

hey S

all I would say is that scalping is a pretty specialised, intense and highly tressful form of trading and I would recommend you learn a lot first about trading generally before trying to attempt it .......

having said that it truly will make a trader a lot of money due to its high volume activity on leveraging of small capital sums......you really can make a good income without depositing too much with brokers

read forexperians threads here ..he is the master

I may start a thread devoted to scalping my style but that's for the future :smart:

N

 

[NVP]

great volatility this morning in markets...........chalk and cheese to yesterday

 

[NVP]

nice usd news at 1.30 and I caught some of the EU fall ..........

ok made 250 pips now today so taking a breather

better performance from me so pleased

149 trades - 85% / 15% win /lose
248 pips made

so after commission its still a decent few quid up today before U.S opening

poss back later
N

 

[NickBk]

N,
How much per pip if you don't mind to answer?
GL

 

[NVP]

N,
How much per pip if you don't mind to answer?
GL

well its between $1 and a hundred dollars per pip 😆

seriously though as everyone knows that's why scalping is so attractive ...I am leveraging my bank at 2-3% per scalp with less than 1 pip stop loss and making an average of over 1 pip per trade

so that's doubling my bank theoretically on most good days if I continue to adjust the stake size vs capital base
N

 

[NickBk]

clear as day then! -)

 

[NickBk]

Hey DJ
In fairness he said theoretically.
Would agree it is likely too many trades although somewhat understandable given the day that was in it.
Also would agree that 2 pips per trade is not enough on average.
However, I am also more interested in the money -)

 

[Pat Riley]

I am leveraging my bank at 2-3% per scalp with less than 1 pip stop loss and making an average of over 1 pip per trade

so that's doubling my bank theoretically on most good days if I continue to adjust the stake size vs capital base

Can I just get clarification on a few points sir?

If you continue to use 2-3% why would you need to adjust stake size v capital?

You're using a sub 1 pip stop?

You maintain an average 85% win rate?

You make an average of 1 pip profit per trade, today obviously higher?

You made 148 trades today for a 249 pip net profit? So presumably you risked less than 148 pips to make that?

You typically use between 50:1 and 33:1 leverage across all pairs?

Based on an 85% win rate, an average of 1 pip profit per trade and using leverage of between 2-3%, you're doubling your capital base, every day?