Best Thread Correlation Trading - Basic Ideas and Strategies

[NVP]

hey all

I gave up long ago trying to "sell" the benefits of using Strengthmeters ......and my own version the FXCorrelator available below in links

why ?...........because anyone who choses to use it properly alongside other more standard PA approaches knows it power already

so heres the week - Trading strengthmeters 101

1) load the FXcorrelator on the default 20ma settings and put it on the 4hr TF for this week
you will see the first chart here ....look for the greenback and if it above or below the Zero line .........that will be the direction you will be trading it in usd pair trades

lets focus on the GBP (red) and the Euro (blue) last 3 days of the week

the green usd is ABOVE the Zero
The Red GBP and the Blie Euro go below the Zero

so we are looking to buy usd and sell GBP when opps arise ? .......agreed ?.....

good

 

[NVP]

right drop down to the 1hour chart same 20ma setting and the last 3 days as shown on chart

also I have removed all other currencies using the settings on the indicator to show the moves clearer

remember USD above Zero = buy signals (aligned to 4hr signal)
and GBP and Euro below Zero = sell signal (aligned to 4hr signals)

all ok ?

 

[NVP]

now lets focus on the GU ..............can you see when the usd is still above the zero and the gbp is below the zero

they are trade signals .........trigger wise you can drop to lower TF's or faster MA settings or even pure PA on the pairchart if you want ....some of these show 20-30 pips moves over a few bars

these are relative strength based signals for 2 currencies vs the G8....and evidenced by higher TF's indicators supporting the trends for these currencies

buy strong currencies and sell weak currencies in the bars shown

ok ?

 

[NVP]

heres the EU

trade when the euro is below the zero and usd above the zero (aligned to 4h)...

not as many signals as GBP vs USD ........but one is a bomb !

N

 

[NVP]

these charts are very generic in nature and I offer no apologies for their simplicity .....of course there are always more details and technicalities to handle re entries / Exits

but if you ever want to know whats hot and whats not in the G8 ....grab the FXCorrelator !

have good weekends
N

 

[NVP]

labor day weekend in US so tomorrow will be interesting.............

.nervy time for traders........ as after Fridays NFP scares you really don't need a day off

hmmmmm
N

 

[NVP]

Hi N

The LiTs area is dynamic and is based on a combination of fixed static intraday pivots along with the LR structure taken from the longer 3 LR setting.

Depending the the currency pair and the previous 18 hrs of movement the LiTs area might be anything from just 20 pip to 50 pips for pairs like the GJ. If the price is in the actual "area" then basically we are waiting for it to break out one way or the other which will normally happen after 8 00 am UK time. On trending days the the moves can last 6 to 8 hrs + but Lunchtime news releases can see full reversals

A great example yesterday would be the UJ - its stayed under its LiTs area the whole day session - even including the NFP spike.

Regards

F

understood F.........my main interest was aroudn how far back you go in time re S/R levels seeing as we are scalping ..........18 hours it seems

I carry out a similar procedure on the indexes .........particularly the USD that represents 90% of my scalps

heres last week with some Main and interim H/L's in the frame

Monday was a Boomer so it made the next few days more challenging

Thursday / Friday were easier for me as I could trade direction off the new weekly high for the week ........bouncing them off interim daily lows

N

 

[NVP]

and while we are on the usd index and highs / Lows ...........

heres the year on the usd .........see the S/R levels and the new yearly high this week ?

who says Price action is only related to markets / charts ?

and look at the peach of a bounce in late August.........that bull bounce has put 250 pips of prime usd pips on any usd pairs already

that's has translated into

500 pip fall on GU (25th Aug)
350 pip rise Uchf (25th Aug)
500 pip fall on EU (25th Aug)

not bad for a simple S/R play ..........
N

 

[NVP]

morning all

buying usd at moment ..........nice bull phase on usd since last week

 

[NVP]

still trying to sell the usd .........heres the green usd for last 30mins or so

nice recent selloff again but limited action on my 4 usual currencies to buy

blue Euro buy as best so far earlier and ive hit brown cad buy last few mins

pip wise its nickel and dime ..........no big moves for me yet

N

all my currencies have had a go at buying into the usd falls since 8.51

(these are the 4 currency indexes overlaid on 1 chart - see my free links in sig area)

not sure how much left in the USD selloffs to be honest so tight S/L's on scalps

back later
N

 

[NVP]

finally getting that usd sell running now ............lets see if the scalps will run

slow start earlier but pip counts doing better now as the greenback sells off .......

still selling usd when the bounces occur..........see GMT times below

Europeans are bullish now

N

 

[NVP]

well let us know when you guys are going to be either funny or informative......clocks ticking

N

 

[NVP]

usd giving us the damn runaround today ......

bull then bear now bull (?)

no real stretch of the legs on usd so far ..............

N

 

[NVP]

usd giving us the damn runaround today ......

bull then bear now bull (?)

no real stretch of the legs on usd so far ..............

N

hey all

must admit hav'nt been too much at screens today ..........US and Canada being off has dampened my appetite

heres the magic times below.... GMT........wish we had crystal balls to call them right on the pip but sadly we do what we can ...........I got into that big selloff earlier and did ok on pips .....mainly buying Europeans into the bear usd ....have been in and out since but cant claim mega pips .......

20 pip range is very very poor for the USD on a normal day .....hence my lack of appetite that today would be decent..look at last week........30 pip the low and up to 60 pips last Monday

N

 

[NVP]

lol. Strange, isn't it!
'live calls in advance' are only acceptable by their master! Anyone else makes them, and it's 'grow up'!''
The reason they all seem so angry is because they have put all of their hopes into F being the person who's gonna turn their poor trading around, and you can guess how that'll work out! (for them and their poor families)

I repeat again .......make the thread funny or informative guys ..........or at least try
to achieve it before everyone is banned ?

MEANWHILE

I really think they have an issue with me supporting Forexmospherian and MM on his call thread ......

can I repeat again that I am an independent trader having been active on T2win since 2009

I have been trading forex strengthmeters since the early 2000's - a time when no one was using them or knew what they were ......unlike today when people accept strengthmeters are part of the norm

I have found a lot of Forexmosperians observations on the forex market very useful as I transitioned into scalping last 2 years or so

some dissers call Forexmosperian arrogant and egotistical.........they clearly have never worked on large trading floors or indeed in any high pressure office environment (like sales / marketing) ...F is actually a pussy cat compared to characters I have worked with over the years .......I don't see the problem so perhaps its just me........

if people struggle with his approach then just ignore it and simple focus on learning from what he says ..........treat him as a teacher ......you don't have to marry the damn guy .....jees !

read his threads and supporting comments to Sun11 and also MM in the early days .........damn good mentoring ............patient and attentive .............many of you have probably never ever been mentored so you don't know how good that is to hope for from a mentor.........

cheers
N

 

[NVP]

Ok so the commission equates to an equivalent 0.5 pips = thus your effective spread is 0.8-1.2 pips incl the commission?

I find it amazing how you (and the other posters on this thread such as Forexmospherian or MM) are able to trade profitably when having losses of a few pips and gains of a few pips, with the odd bigger win thrown in. I just can't fathom how that's possible because it requires one to be really hot with getting the direction right, unless I am missing something.

But then, you guys are actually doing it. Respect 👏

hey George..........it is possible ........day on day out

I also used to show my performance regularly here at T2win (to prove what can be done) - eg :-

http://www.trade2win.com/boards/for...-basic-ideas-strategies-1641.html#post2533242

around 85% that afternoon session .........and 100% here later in day

http://www.trade2win.com/boards/for...-basic-ideas-strategies-1641.html#post2533270

and so on and on next day

http://www.trade2win.com/boards/for...-basic-ideas-strategies-1641.html#post2533920

http://www.trade2win.com/boards/for...-basic-ideas-strategies-1641.html#post2533938

and next day

http://www.trade2win.com/boards/for...-basic-ideas-strategies-1641.html#post2534390

.........as F says achieving above 70% should do the trick

but you can probably see from some of the other new threads and recent members comments at T2win , F MM and myself seem to attracted a lot of resentful and negative/sarcastic followers as well...so we are trying to keep our heads down more these days and just get on with the business of trading......and I don't post results anymore due to the abuse I got from these posts earlier in the year as people disbelieved them (sadly)

suffice to say it is possible to make consistent money as long as you find your edge and apply it with discipline and focus 100% of the time :smart:

N

 

[NVP]

good morning all

the usd has come out of the Asian session very vey bear ........still falling so I am playing easy sells on usd until I see it bounce...

you can see the big bad support level on my chart

good hunting ...today looks volatile and has been double the Range of yesterday already

 

[NVP]

gu has been kind .....see where I have been working the signals

that's a 9 , 18 , 37 LR with my 2 indexes GBP and USD underneath

i'm fusing most of Forexmosperians technique with my strengthmeter based systems

N

 

[NVP]

this is easy so far today - maximise the pip count

 

[NVP]

ok after some nice nice falls the usd is bouncing .........8am was actually late on the call ............see market progression below in last hour or so

will pop in later ..........going to head down trade to get to targets.......then need to go out

see my trading/comments on F's thread earlier

N