Best Thread Correlation Trading - Basic Ideas and Strategies

[NVP]

Hi N and everyone else,

Cant believe Friday has arrived so quickly, must be a sign of old age creeping in....

GU; First trade sell stop at 51656 filled during 08:35 bar taking out TS during 09:30 bar for 9 pip profit. Second trade sell stop at 51508 filled during 09:45 bar, 11:00 strong up bar taken as hint to get out pdq so exited at this close for 6 pip profit.

EU First trade sell stop at 36124 filled by long tail of weak 08:05 up bar exited on 11:35 bar close for 43 pip profit

EG; First trade entered long on open 08:40 bar and SL hit during next bar for 14 pip loss - a real no mercy quick death there! Second trade sell stop set at 89622 and filled by tail of 09:35 up bar, exited on close 11:50 bar for 12 pip profit.

Trade well and regards,
Simon.

JRP would have had a lot more in the pipe if riding the GBP (down in this case) was not such a bloody rodeo sometimes......its been falling most of the day since midnight - except when it went into monster chop mode through most of the traditional London trading morning.....Euro was more solid and gave a great smoooooth fall through the London morning Trading hours which matched USD a treat.....any E/G got destroyed by the rodeo antics of GBP as already described so JRP did well to get that dude into neutral Territory on the day......

Solid week mate....Solid week....enjoy the vino collapso tonight

N

 

[jrplimited]

GMP's on fire with his posts :clap:

i'll try to catch up later......well done GMP and welcome to the Crew.....now all we need is a nightshift manager ......as long as you have initials !!!

any offers out there ?......this Thread and potential trading crew are warming up a treat again.....and I love it when a plan comes together......

NVP

Wow N, THAT KB is one real good looker.... Reminds me of an advert for snickers on UK tv.
Simon.

 

[GMP]

GMP's on fire with his posts :clap:

i'll try to catch up later......well done GMP and welcome to the Crew.....now all we need is a nightshift manager ......as long as you have initials !!!

any offers out there ?......this Thread and potential trading crew are warming up a treat again.....and I love it when a plan comes together......

NVP

Howling, that's me!

 

[GMP]

umm....are my eyes going mate or did you steam up the screen ?

N

Yeh, too much going on there - easier to clarify it graphically than use words

 

[jrplimited]

JRP would have had a lot more in the pipe if riding the GBP (down in this case) was not such a bloody rodeo sometimes......its been falling most of the day since midnight - except when it went into monster chop mode through most of the traditional London trading morning.....Euro was more solid and gave a great smoooooth fall through the London morning Trading hours which matched USD a treat.....any E/G got destroyed by the rodeo antics of GBP as already described so JRP did well to get that dude into neutral Territory on the day......

Solid week mate....Solid week....enjoy the vino collapso tonight

N

Hi N,

Back indoors again as its raining - must be summer?!!

Yes got bit by the chop monster and had to wrestle through the morning on GU and EG. Looking at charts now is a very different picture though, GU has fallen over again to near "magic" 1.50 level so I guess that means markets are learning towards gordon charlie brown and his clowns forming a majority in hung parliment after election, or urban rapper "Da Cam" having such a slim margin lead....

Big volatility ahead of early May results for us all on GU now, that means trip to tesco to stock up on loads of spare trousers plus, of course, the all important red nectar.

Simon.

 

[jrplimited]

Yeh, too much going on there - easier to clarify it graphically than use words

Hi G,

Good call on that EG pick-pocket trade of yours but as you said, it was lunchtime so a bit dicey even for a quick dip.

Simon.

 

[NVP]

Wow N, THAT KB is one real good looker.... Reminds me of an advert for snickers on UK tv.
Simon.

hands off.....shes mine all mine .....

N

 

[GMP]

Hi G,

Good call on that EG pick-pocket trade of yours but as you said, it was lunchtime so a bit dicey even for a quick dip.

Simon.

Thanks Simon, probably the sort of trade I'd have put on as a newbie, leaving it to go pear-shaped after lunch:-0
We live and learn (sometimes!)

 

[GMP]

hands off.....shes mine all mine .....

N

You're not going to get into the Mile High Club with her I'm afraid

 

[NVP]

HELP - programmer wanted !

Hi all

I notice we are now pushing 170+ downloads of the Corrie and nearly 40,000 views ....
not bad for an idiot not trading at present and (thankfully) 2 other contributors who know their stuff.......

I have some enancements I want to do on the Corrie.......I got lucky developing it (I favour the less used 100 monkeys /100 typewriter approach to programming )

I want to add a feature that I believe will truly revolutionise its use as a price action trading tool.....any MT4 programmers out there want to work with me ?.....we would be able to work out something re any future income derived from it

Can I assure the T2W moderators that I market nothing at present regarding trading systems, forums or Blogs..........who would listen to an Armchair trader anyway ?

cheers m'dears....
NVP

 

[NVP]

the boys re aways good for a read.....if it has a pulse or breathes they will try to correlate it.....

N

 

[jrplimited]

Hi and morning N,

Got tading pcs doing their AV and spyware scan in background (usual weekly chore) so popped onto your thread for a trawl around, rather than watching that mind numbing spyglass thingy slooowly doing whatever it does!

Many congrats on reaching 40k views, thats quite a milestone and shows what we know - ie the corrie concept is something to be looked at closely for all types of traders. I'll mail you over the weekend regarding mt4 programming as the brilliant boffin who coded my stuff for me might be willing to look at your requirements.

I'm guessing here that you want to see the corrie lines expressed as candlesticks maybe? If so then that could be done by simply using M1 tf as a base and then coding the data array (O/H/L/C) from this to be displayed as [say] M5 tf or other tf of your choice - MT4 has a default script to allow weirdo tfs to be displayed utilising its offline chart feature which does update in real time.

We all should hear next week about the stupid leverage restriction proposal which hopefully is now dead in the water after the volume of objections lodged, so fingers crossed on that one.

Have a great weekend and regards,
Simon.

 

[NVP]

Hi and morning N,

Got tading pcs doing their AV and spyware scan in background (usual weekly chore) so popped onto your thread for a trawl around, rather than watching that mind numbing spyglass thingy slooowly doing whatever it does!

Many congrats on reaching 40k views, thats quite a milestone and shows what we know - ie the corrie concept is something to be looked at closely for all types of traders. I'll mail you over the weekend regarding mt4 programming as the brilliant boffin who coded my stuff for me might be willing to look at your requirements.

I'm guessing here that you want to see the corrie lines expressed as candlesticks maybe? If so then that could be done by simply using M1 tf as a base and then coding the data array (O/H/L/C) from this to be displayed as [say] M5 tf or other tf of your choice - MT4 has a default script to allow weirdo tfs to be displayed utilising its offline chart feature which does update in real time.

We all should hear next week about the stupid leverage restriction proposal which hopefully is now dead in the water after the volume of objections lodged, so fingers crossed on that one.

Have a great weekend and regards,
Simon.

hey mate.......how'dya guess ?....

I would deliriously let your trading guru /programmer on it but thought the was tied up on bigger and more lucrative projects ......

We could mutually share the end result/benefits if thats ok.......otherwise i'll have to sell my body again down the local docks......


N

 

[jrplimited]

hey mate.......how'dya guess ?....

I would deliriously let your trading guru /programmer on it but thought the was tied up on bigger and more lucrative projects ......

We could mutually share the end result/benefits if thats ok.......otherwise i'll have to sell my body again down the local docks......


N

Hi N,

Yep, he is busy on yet another project for me but maybe we could squeeze in at least a feasibility study into how we can create candlesticks for you. One thing we have to be aware of and thats limiting anything to just a few pairs because it will be very pc resource hungry.

I'll make contact with the coding guru through a seance now I know the budget (your body net worth down at docks) you got in mind for this - so that will at least get us five minutes of his time!!!

Enjoy the weekend.
Simon.

 

[NVP]

mornin al.......


generally bullish night on gold and DJ30......(my Nikkei feed is not working ?)......anyway the tag are still asleep not really responding with any notable falls....small Gold retrace got met with good response upwards.......therefore tag bias to me is northbound

look at right chart (1h)......will the Pound climb its way out of the last few days collapse ?..............not going well so far is it !!!

N

 

[NVP]

nothing till late afternoon ........

N

 

[NVP]

Eurotribe looking stronger now against a rising tag

so who yer gonna call ?

N

 

[NVP]

ok so tag is weakening......therefore take the strong eurotribe against it instead of selling commdolls into Tag........

 

[jrplimited]

Hi N and all else,

Its Monday and its the start of yet another week's bun fight....

GU; Cautiously opened long at 49762 on 08:05 bar and, of course (!), price went down to threaten Sl then it quickly recovered, went into narrow range from 08:25, formed new local high just above the 1.50s and retreated downhill taking out TS during 09:15 bar for 3 pip profit. Second trade buy stop set at 49778 and wick of 10:05 bar filled this. Price moved up on next bar, floated around for two bars, went up again to challenge previous local high but didnt manage to hold 1.50s and fell over taking out TS during end of 10:45 bar for 13 pip profit.

EU; Opened long at 35183 on 08:05 bar, price retreated downwards for around 10 pips then recovered nicely to above initial entry point, stalled for four bars and then pushed upwards strongly to form local high at 10:00 then promptly fell over to take out TS during flat 10:20 bar for 12 pip profit. Second trade watched price bottom out at 09:55, next bar pushed up and long opened at 35244 on 10:05 bar, price dropped down slightly and did nothing for four bars, then rose up without any real conviction so SL pulled up to BE point and this got taken out by tail of 10:55 up bar for zippo pip profit. Nothing else found for the morning.

EG; No setups on chart for this morning.

This is the last full week's trading before the easter break and this morning was very wishy-washy to say the least, hopefully you will all be able to collect some pipadoolies this afternoon when markets eventually wake up. With the USA deliberating over health care reforms in the face of a gigantic budget defecit, maybe its the turn of the Dollar to get a kicking so that concept might be worth watching - but then what the heck do I know as these markets tend to do there own thing anyway!

Dont forget the UK moves clocks forward by one hour this weekend, so for me my MT4 broker's time reverts back to five hours behind London time after this twice yearly confusion. I'm off out to my aunt's funeral tomorrow so no posting for me - trade well and regards,
Simon.

 

[NVP]

Hi N and all else,

Its Monday and its the start of yet another week's bun fight....

GU; Cautiously opened long at 49762 on 08:05 bar taking out TS during 09:15 bar for 3 pip profit. Second trade buy stop set at 49778 and wick of 10:05 bar filled this. taking out TS during end of 10:45 bar for 13 pip profit.

EU; Opened long at 35183 on 08:05 bar, to take out TS during flat 10:20 bar for 12 pip profit. Second trade long opened at 35244 on 10:05 bar, taken out by tail of 10:55 up bar for zippo pip profit. Nothing else found for the morning.

EG; No setups on chart for this morning.

trade well and regards,
Simon.

Hi mate.....steady Eddy stuff.....

My trial system picked up following signals on potential Eurozone/TAG trades

7.55am buy eurozone (same as you)
11.10am Sell euroZone
and one right on the money now saying sell Eurozone into TAG

so a few pips here and there but work in progress......

I can see why you attacked the eurozone buy at 10.05 but I have some Market (Gold/DJ30) filters that just were not supporting the move (rightly or wrongly)

Hope it all goes as well as can be expected tomorrow
Neil