Best Thread Correlation Trading - Basic Ideas and Strategies
NVP
Guest Author
- Messages
- 37,949
- Likes
- 2,150
http://www.trade2win.com/boards/forex/214462-fxcorrelator-forex-trading-view-111.html#post2761728
live scalp call .......7-8 pips
live scalp call .......7-8 pips
NVP
Guest Author
- Messages
- 37,949
- Likes
- 2,150
when the usd index is flat the market ceases to offer opportunities .....not just on usd pairs either ...............with no moves from the greenback you don't get the impetus for traders on other pairs to think about switching trades for better opportunities
NVP
Guest Author
- Messages
- 37,949
- Likes
- 2,150
ok more live calls on my scalping thread
all I am saying I suppose is that you can make money scalping .........it just means you need to spend a lot of time finding and perfecting your edge ...........and lots of screen time also perfecting your execution (MM, platform , entries , exits)....till you can do it in your sleep
( I wouldn't recommend the forum posting as well .........but that's my choice !!)
bring it all together and you will be a successful and consistent trader ........
N
all I am saying I suppose is that you can make money scalping .........it just means you need to spend a lot of time finding and perfecting your edge ...........and lots of screen time also perfecting your execution (MM, platform , entries , exits)....till you can do it in your sleep
( I wouldn't recommend the forum posting as well .........but that's my choice !!)
bring it all together and you will be a successful and consistent trader ........
N
NVP
Guest Author
- Messages
- 37,949
- Likes
- 2,150
London over now .........how did it go for you ?
Index wise the GBP was the rocknroller currency ........it actually sold off to -40's early opening London and has been to + 40's later in session ...and back south again !!!
that's decent volatility !!
Yen has been a decent sell at times to -40's .......
Cad mainly bull later on is session , Euro been trundling south from 8.30 am
pairs scalped
plenty on offer although choppy at times
GU both ways clearly
Ea a solid seller and reseller at times
EJ and UJ buys and rebuys at times
some ucad selling more recently
anyway a decent day for me ....I did ok up to 8am bar and popped in a couple of times to scalp a few more ...........wish I was able to trade a whole London session but not possible at moment
have a good pm session .......always happy to correspond with people trying to learn more about strengthmeters and how I have managed to use it for scalping ..........you all know where I am here anyway
N
Index wise the GBP was the rocknroller currency ........it actually sold off to -40's early opening London and has been to + 40's later in session ...and back south again !!!
that's decent volatility !!
Yen has been a decent sell at times to -40's .......
Cad mainly bull later on is session , Euro been trundling south from 8.30 am
pairs scalped
plenty on offer although choppy at times
GU both ways clearly
Ea a solid seller and reseller at times
EJ and UJ buys and rebuys at times
some ucad selling more recently
anyway a decent day for me ....I did ok up to 8am bar and popped in a couple of times to scalp a few more ...........wish I was able to trade a whole London session but not possible at moment
have a good pm session .......always happy to correspond with people trying to learn more about strengthmeters and how I have managed to use it for scalping ..........you all know where I am here anyway
N
NVP
Guest Author
- Messages
- 37,949
- Likes
- 2,150
hey all
an experienced trading buddy has pm'd me and correctly suggested I clarify the comments re London here
London session - depends how you look at it and which markets are opening/closing
but generally that market is 8am - 4.30/5pm
I call early London 6am .........cant think of anything else to call it ...and then when I said London over I meant for me London morning over ...........
given a perfect option of perhaps only 6 hours to trade forex a day I would trade
7.30-10.30 (early London)
1.30 - 4 30 (us opens / crossover London)
at the moment I cant really trade ether much - work gets in the way from 8am normally
but scalping 6-8am every morning still makes me bucketloads more that watching paint dry on higher TF's 🙂
N
an experienced trading buddy has pm'd me and correctly suggested I clarify the comments re London here
London session - depends how you look at it and which markets are opening/closing
but generally that market is 8am - 4.30/5pm
I call early London 6am .........cant think of anything else to call it ...and then when I said London over I meant for me London morning over ...........
given a perfect option of perhaps only 6 hours to trade forex a day I would trade
7.30-10.30 (early London)
1.30 - 4 30 (us opens / crossover London)
at the moment I cant really trade ether much - work gets in the way from 8am normally
but scalping 6-8am every morning still makes me bucketloads more that watching paint dry on higher TF's 🙂
N
NVP
Guest Author
- Messages
- 37,949
- Likes
- 2,150
hey all
an experienced trading buddy has pm'd me and correctly suggested I clarify the comments re London here
London session - depends how you look at it and which markets are opening/closing
but generally that market is 8am - 4.30/5pm
I call early London 6am .........cant think of anything else to call it ...and then when I said London over I meant for me London morning over ...........
given a perfect option of perhaps only 6 hours to trade forex a day I would trade
7.30-10.30 (early London)
1.30 - 4 30 (us opens / crossover London)
at the moment I cant really trade ether much - work gets in the way from 8am normally
but scalping 6-8am every morning still makes me bucketloads more that watching paint dry on higher TF's 🙂
N
an experienced trading buddy has pm'd me and correctly suggested I clarify the comments re London here
London session - depends how you look at it and which markets are opening/closing
but generally that market is 8am - 4.30/5pm
I call early London 6am .........cant think of anything else to call it ...and then when I said London over I meant for me London morning over ...........
given a perfect option of perhaps only 6 hours to trade forex a day I would trade
7.30-10.30 (early London)
1.30 - 4 30 (us opens / crossover London)
at the moment I cant really trade ether much - work gets in the way from 8am normally
but scalping 6-8am every morning still makes me bucketloads more that watching paint dry on higher TF's 🙂
N
NVP
Guest Author
- Messages
- 37,949
- Likes
- 2,150
hey all .........popped back for 10 mins on scalp thread as taking a coffee break ...........
cracking us session at moment going on
EA and GU were kind and I bagged nearly 20 pips on the 2 of them .........see thread
wish it was that easy all the time
N
cracking us session at moment going on
EA and GU were kind and I bagged nearly 20 pips on the 2 of them .........see thread
wish it was that easy all the time
N
NVP
Guest Author
- Messages
- 37,949
- Likes
- 2,150
having a great day today .........each time I pop in the charts are lining up (See my scalp thread here)
not every day it does that 🙂
anyway becoming a consistent trader is not rocket science so DO hang in there everyone if you are struggling ......
research
learn
apply yourself
practice
practice
screentime
refine that edge
and it will come together in the end
N
not every day it does that 🙂
anyway becoming a consistent trader is not rocket science so DO hang in there everyone if you are struggling ......
research
learn
apply yourself
practice
practice
screentime
refine that edge
and it will come together in the end
N
NVP
Guest Author
- Messages
- 37,949
- Likes
- 2,150
actually I've been meaning to put another video on youtube to update people on my scalping style and system....will try to get hat up by the weekend
moderators I have been asked here for an update by someone so its not soliciting - and its a free video anyway
if that offends please remove this post - I am only trying to help other traders as I have done for many years on this forum 🙂
N
NVP
Guest Author
- Messages
- 37,949
- Likes
- 2,150
hey everyone .........
just natural to me these days .........instead of perhaps trying to juggle 6-8 pairs rolling I fall back to 3-4 pairs and then multi post as well ......
keeps my hand in and in truth probably saves me a few pips as 3-4 pairs on the go is more than enough as they are the lead ones always :smart:
will try to make this more civilised re calls but I call what I see ........Fxmo taught me on his thread to try to offer more insight and also some S/R levels at times which I am trying to do more here now ......
its difficult for me as my own screens are more adapted to strengthmeters and readings that IGNORE standard pairchart signals
so we are all learning as we go....I will try to get a youtube video up soon and update everyone what I do now vs 2-3 years ago
:smart:
N
NVP
Guest Author
- Messages
- 37,949
- Likes
- 2,150
ok market has been a little jittery today .........some crazy swings......... but pips are there if you work it hard ............just don't get too attached to any trends ..........i'm happy to scrap out 5-10 pips a time ...........that's scalping !
been a good morning for me ..........so no complaints
back later ..have a good day gang
N
been a good morning for me ..........so no complaints
back later ..have a good day gang
N
NVP
Guest Author
- Messages
- 37,949
- Likes
- 2,150
remember the sums on scalping vs other options
With scalping you can :-
- utilise say 2% of bank per scalp
- set hard/soft stops at 5 pips per scalp
- aim for a decent win rate (70%+).......
so on 5 pips thats roughly 0.4% of your bank earned per (net) positive pip achieved in a session
I cranked out roughly 100 pips on those last 3 trades called .....so that's 40% of my bank in under 2 hours ??
ok sure that's been a better day than normal and I do split my trades into 2-3 contracts to be safer
but even if you said I only took 0.2% of bank per trade off those 100 pips ...... that's still 20% return of cap in under 2 hours ??
I look for a minimum of 20 pips in my 2 hour sessions .........50 is better for me in truth....and I could hit that out the park most days if I allow myself 6-8 hours trading live
so that's 10% a day return on cap I am targeting ........
sure its a tough target .......but that's the beauty of leveraging scalping and high volume of scalps vs other systems ........
if you are a consistent and profitable trader with a decent edge you should make the numbers........
even 2-3% a day would add up over the weeks / months vs other methods watching paint dry ......right ? 🙂
as I have stated many times ..........anyone who possesses the determination and drive and focus to learn to trade (scalp) with a decent edge will be successful over time.........just get stuck in and make it happen
cheers
N
With scalping you can :-
- utilise say 2% of bank per scalp
- set hard/soft stops at 5 pips per scalp
- aim for a decent win rate (70%+).......
so on 5 pips thats roughly 0.4% of your bank earned per (net) positive pip achieved in a session
I cranked out roughly 100 pips on those last 3 trades called .....so that's 40% of my bank in under 2 hours ??
ok sure that's been a better day than normal and I do split my trades into 2-3 contracts to be safer
but even if you said I only took 0.2% of bank per trade off those 100 pips ...... that's still 20% return of cap in under 2 hours ??
I look for a minimum of 20 pips in my 2 hour sessions .........50 is better for me in truth....and I could hit that out the park most days if I allow myself 6-8 hours trading live
so that's 10% a day return on cap I am targeting ........
sure its a tough target .......but that's the beauty of leveraging scalping and high volume of scalps vs other systems ........
if you are a consistent and profitable trader with a decent edge you should make the numbers........
even 2-3% a day would add up over the weeks / months vs other methods watching paint dry ......right ? 🙂
as I have stated many times ..........anyone who possesses the determination and drive and focus to learn to trade (scalp) with a decent edge will be successful over time.........just get stuck in and make it happen
cheers
N
NVP
Guest Author
- Messages
- 37,949
- Likes
- 2,150
ok lunchtime ...London morning session well over now for me
summary
Yen went bull to +60's ........plenty of time to make money off pairs
USD a solid solid bull morning to +35's ...again go with the flow
perfect carry trade correlation guys ...take a look at some of my old original training videos and systems where I use the yen and USD moving in tandem on the FXCorrelator to signal trades ...classic today !
currencys selling
Euro Euro Euro ..........slamming sells recently to -50 pips from 6am
early GBP ....has been a slow retrace north ever sine but still offered resells at times
CAd as well at times
pairs in the mix ........
EJ and EU sells #1 .........missed a lot of that actually - 0/10 NVP
GU sells .....yep 10/10 (more than I should've vs better option at times !!!)
ucad buys ....yep had my share
EJ sells ..yep yum yum
AU sells ...yep a few
have a good afternoon
N
summary
Yen went bull to +60's ........plenty of time to make money off pairs
USD a solid solid bull morning to +35's ...again go with the flow
perfect carry trade correlation guys ...take a look at some of my old original training videos and systems where I use the yen and USD moving in tandem on the FXCorrelator to signal trades ...classic today !
currencys selling
Euro Euro Euro ..........slamming sells recently to -50 pips from 6am
early GBP ....has been a slow retrace north ever sine but still offered resells at times
CAd as well at times
pairs in the mix ........
EJ and EU sells #1 .........missed a lot of that actually - 0/10 NVP
GU sells .....yep 10/10 (more than I should've vs better option at times !!!)
ucad buys ....yep had my share
EJ sells ..yep yum yum
AU sells ...yep a few
have a good afternoon
N
NVP
Guest Author
- Messages
- 37,949
- Likes
- 2,150
catching up on mega backloads of questions this weekend
heres one of many I get ..........
Message Hi Neil, I'm new in forex and really want to learn more about, from where I should begin. Thanks xx
and heres what I say
hey buddy - and welcome !
ok as a beginner I suggest you connect yourself intitially to the learning areas of perhaps 2 of the big forums
babypips.com
Trade2win.com
I am NVP on both of them if you are looking for help.........
check out the beginner areas ........and focus on forex ....although a lot of things for beginners relates to all forms of trading really
don't rush things ..........make lots of notes and slowly go through the basics ........open a demo up eventually and experiment a little ..........but make sure you understand all the basic ways of trading systems (ie the main indicators ....from MA's, Fibonacci, macd, Bollinger bands etc etc ) and also learn about price action trading........(HH, LL, Support , resistance)........get familiar and see if any grab you as a start point for more work .........thats how we all start !!
don't spend any money on systems or training .....theres plenty of FREE generic training out their on the big forums .......save you money for one day when you are more experienced and may need to splash out on some decent specialist support or mentoring don't pay for the free stuff !!!
keep in touch and perhaps in future you may even decide strengthmeter based forex trading is what you want to do
cheers
N
heres one of many I get ..........
Message Hi Neil, I'm new in forex and really want to learn more about, from where I should begin. Thanks xx
and heres what I say
hey buddy - and welcome !
ok as a beginner I suggest you connect yourself intitially to the learning areas of perhaps 2 of the big forums
babypips.com
Trade2win.com
I am NVP on both of them if you are looking for help.........
check out the beginner areas ........and focus on forex ....although a lot of things for beginners relates to all forms of trading really
don't rush things ..........make lots of notes and slowly go through the basics ........open a demo up eventually and experiment a little ..........but make sure you understand all the basic ways of trading systems (ie the main indicators ....from MA's, Fibonacci, macd, Bollinger bands etc etc ) and also learn about price action trading........(HH, LL, Support , resistance)........get familiar and see if any grab you as a start point for more work .........thats how we all start !!
don't spend any money on systems or training .....theres plenty of FREE generic training out their on the big forums .......save you money for one day when you are more experienced and may need to splash out on some decent specialist support or mentoring don't pay for the free stuff !!!
keep in touch and perhaps in future you may even decide strengthmeter based forex trading is what you want to do
cheers
N
