Best Thread Correlation Trading - Basic Ideas and Strategies

[NVP]

see the action on my scalp thred this morning

bloody heart attack stuff on GU ............ok i'll try to run this up then back later

yen and usd bear ......cad bull so the Ucad sell called doing ok at 2944 now

later
N

 

[NVP]

heres a blog from one of THE best traders in the business

Lance Beggs.......a great trader and a really nice guy as well

N

http://yourtradingcoach.com/trading-business/keep-it-simple/

 

[NVP]

Hi, I was a swing trader before. Just curios to those who scalp. What is the best pair that you use? EURUSD? GU? And what time?

how long is a piece of string ? :32:

the nature of the relationship between 2 currencies is heavily dependent on many things ......Timeframe traded , timezone and naturally the news events , economic conditions in play at that time

not to mention things like the spread of course and you do have a very very complex mix of dynamics in play !

If we are discussing the G8 then heres my take

Currency 1 - would suggest the USD ........solid , anchor currency , easily tradable all platforms , lowest spread for all pairs , carry trade pattern generally

then you have a tougher choice and it will mainly be dependent on your preference for risk vs return vs volatility , ATR etc etc ...and again timeframe is a huge factor ........

higher volatility pairings - GBP,Yen,CAD ,NZD
lower volatility pairings - EUR,AUD,CHF



hope this helps buddy .............just my thoughts
N

 

[NVP]

heres the week guys ..have a good one

N

 

[NVP]

morning all

well its holiday weekend in the states .........markets so far are very very flat and will probably continue that way ......even with post brexit hangovers still being nursed.....

Asian / overnights
AUD to +30's
Yen to -40's
USD bear
Cad bull

London 6am........

ZZZZZZZZZ.........usd and yen to still sub 10 pip bear moves
GBP spiked to +9.............
get the coffee in ..........

pairwise .......so far
thin........

saggered to +10's on GU buys , AU buys
Ea sells to -10

beam me up scotty ....if this stays slow I will get on with some other weeks work preparation instead

N

 

[NVP]

7am bar goes ..........

Euro bear / AUD bull still in play ...only EA air really any half good ......ea to -30's now from 6am opens

GBP shaping for some sells ....but choppy still

later ....ZZZZZZZZZZZ
N

 

[NVP]

last 30 mins a little more tricky.......8am bar more promising

i'm back trying to play the yen / USD buys again

Europe the sell................cad looks bearish now as well

Gu looking at a 3300 ceiling right ?

1140 the EU

be patient today gang ............no us market volatility so the market will be tricky all day

later
N

 

[NVP]

3290+ and i'm gonna buy cable

 

[NVP]

usd is fiddling about now ..no confidence in it of indeed the current G8 correlation patterns

back later ........
N

 

[NVP]

action since 9.30 last posts ..........

AUD holds bull , USD sold off , Yen sold off , GBP dropped like a stone but now recovering
Euro slowly climbing north

Pairwise that means the only consistent performer since 6am opens is the EA bear machine with 90 pips fall..........

AU bull run up approx. 40 pips from 6am as well..........but that's about it

mainly more range trade going on elsewhere if any decent pips to be made

N

 

[NVP]

yen and usd trying to go bear here ..........

happy to buy GBP and or Euro and or Cad ...........

cmon G8 gimme a break here ....slow 10 mins

N

 

[NVP]

really choppy at moment guys .....1 flaky GU scalp for peanuts last 10 mins

back later
N

 

[NVP]

us session is non existent ............surprise surprise

NZD strongest so far ........Cad as well
selling Yen , USD and GBP so far

back later ....not worth it really.might swing some Yen/usd sells into cad , Euro buys possibly if we see some volatility soon........

Gu sells have potential ........but would prefer usd a little more bullish for that ......

chalk and cheese from this time last week ..........50-100pip swings were ging on ..........we havnt even seem that yet from Asian open !!!

N

 

[NVP]

Hey all

Back in uk tomorrow,evening.......can't wait .....bored as hell here and can't wait to start trading again Friday

N

 

[NVP]

good to be back ...........looking at market now but a but late to play tonight

until tomorrow then
N

 

[NVP]

GU sells sure tempting though !!!!

 

[NVP]

GBP hitting its head on a support line ......sells not coming at moment

 

[NVP]

gbp coming off a support level ........and usd under pressure .....

happy to buy above 3320's and any bounces if cheaper

but i'm not scalping now tonight

 

[NVP]

ok back tomorrow ...........got my eye in a little tonight again......but not trading

only GU Bull play seems fun at moment ........leave you all to it

goodnight
N

 

[NVP]

gbp coming off a support level ........and usd under pressure .....

happy to buy above 3320's and any bounces if cheaper

but i'm not scalping now tonight

one last look .............GU to 35's earlier ........so not bad off the 3320's ...but this is not my timezone / trading period .....don't usually burn the midnight oil so late !

ok practice well and truly over .....back tomorrow gang ......

N

PS I normally go light my first day back from a holiday I will reduce my stakes significantly regardless of well I may be doing ........why ?..........because is takes a few days to shake the rust out of even a short break from scalping ....:smart: