FXCorrelator - Scalping system

London morning coming towards an end
sadly the GBP selloff in full swing ....250 pips on GBP index sold since Asian openings.....most of them in London post 6am session
Yen has been the biggest beneficiary but most of that taken in the Asian session
CAD has been the boomer London with nearly 100 pips in the stack so far .......
ive been cruising the GU sell all morning as less politics and spreads involved
hope you had a good one - i certainly have
N

because i'm watching my country go down the toilet .........

hey all
i'm trading through a lunch break now ...........
Gu descent had slowed but its gone off again ....... 3220 - 3190 been a ranging battleground for a good while.......
just spiked to 3150's ..........fast and furious
yen and USD buying so we have a solid carry trade pattern in play ...........EJ selling as well .EU selling .........Europe under siege at moment
N

remember the graph / chart above .........well today the GBP just went sub 5% for the month vs the G7 basket
if it holds its the worse months fall in history since December 2008
N

us session well in play...

GBP is actually fighting back from lows London morning session...its come back 60-70 pips
yen and usd struggling ........
Euro after a bad start is fighting north again following GBP

pairs to be trading

Gu buys going ok........very deep retraces though so be careful .......would be nervous below 3180's
Ea buys very tidy at moment
Ucad buys as well

later
N

crazy correlation at the moment guys .........if you are watching currency strengths you will understand what I mean .......

all you fib fans .........GBP index has bounced 25% retrace from Asian openings now and the incessant selling that has occurred .........enough ???

3214/15...........I don't know guys ..............I think GU gonna fold a little now ..watching for confirmation to sell

huge test here guys ............huge

bounces to 3227 ..............fair dos ..............I am gonna sell it though soon.i can smell a bear play coming

easier pairs out there guys so shop around ....don't get fixated on GU ..........
like me ..........selling soon 3224/5

spike sells to 3208 ..............nice

just a little patience needed eh ? ..........i'll let it run ..........3205 now
back later
N

usd and yen are back in bull business guys .........buiding on Asian and London am session

don't fight them
N

gu resold off 3221 ....screaming one of the meat of the bat ...........

I have been screaming to sell GU ...GBP ..........right ?
3200 now and under HUGE pressure guys

3190's .....gbp has nowhere to hide in this market ..........savage

3115 spike.............see what I mean ..........ruthless selling of GBP .that's 100 pips off my sell levels earlier

morning......trading since early today

overnights
GBP fought back ...........+80s at times
Yen the dog -90's at times

London 6am ........

GBP swinging from buy to now selling +20's to -20s
USD hanging bear ......(just)
euso selling
aussies & Cad are buys
Yen swing buy now

pairs in action ......
very changeable but decent energy in market so far
Ea solid sells off to -40's to date .......nice
chased GU buys up and GU sells down for a handful
AU buys , ucad sells at times

generally a mixed bag

at the moment the yen is pretty solid bull and gbp looks solid as a sell so play from there

N

I get a lot of novice traders asking me for advice and guidance

hey - happy to help but I cant sugar coat it gang.........

heres a typical example of someone wanting to get in the game ........very valid and good question ..............see my open and honest response

N


So to give you my experience level: I've been watching on the sidelines for years and years and have done a lot of reading but little actual trading. I'm looking now for a time tested method that I can learn. Do you have proprietary method that you recommend? I very well might take your suggestions, but I want to get the options available first.

Hi there

The way I trade does not offer currently a set of absolute fixed proprietary systems although I offer many ideas to traders based on strengthmeters ....from my videos and links and website

So for example my recent video on the 3 duck corrie on youtube is very powerful but from the video you see that I have not laid out exact sets,of absolute proprietary rules (like,the main 3 ducks system) ......I offer traders the options to vary certain things and adapt to their preferences and trading style

Why ?


Because I am a Very big fan of allowing traders to experiment and find their own edge and customise things to their own style of trading in the forex arena ...you cannot become a long term profitable trader by copying another trader.....it doesn't work like that ....despite what novice traders think.....you cannot become a clone.....it will work in the short term but will fail you longer term .....trust me .... I know

Yes I firmly do advocate using strengthmeters as the best platform to trade forex from and create your EDGE .......I make a lot of daily consistent profits from scalping forex .......but I find that a trader will develop much more quickly if they add a few elements based on their personality and preferences instead of being in a straight jacket of many rules !

Regards
N