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FXCorrelator - Scalping system

  • #6,721
  • Jan 18, 2019 4:06am Jan 18, 2019 4:06am
scratch trade on last Cable sell......had already staked a b/e position fortunately ....

I think momentum on GBP and indeed Cable is done now ......for the moment ....since i am already well above daily target im taking a break back later

Ucad sell running so i will just trail that out .........67 to 62 so far

N
  • #6,722
  • Jan 18, 2019 5:10am Jan 18, 2019 5:10am
Hey NVP I hope that you are doing good. What do you think about potential spread trading?

I was thinking that maybe it won't be bad to look for wide spreads between two currencies but instead of watching to buy stronger currencies, I am watching that spread will eventually back into normal between two currencies, which mean spread will decrease. Of course, I will like to currencies to start decreasing the spread before the eventual entry and of course price action must go with it


Let me show you an example on current sell opportunity on EUR/GBP

You will see on the picture how the EUR (blue) is trading above the zero and decreasing while the GBP (red) is trading below the zero and increasing at the same time. Also, notice the biggest spread between these two currencies.
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPM1518.png Size: 74 KB
"Buy on fear, sell on greed !!!
  • #6,723
  • Jan 18, 2019 5:31am Jan 18, 2019 5:31am
hi peter - hope you are well my friend

so - are you are talking about finding the 2 most divergent currencies and trading the convergence ? ......yes thats a pretty standard approach that i have talked about a lot over the years on my trade2win forum .........2-3 years or more back

in truth i rarely trade that strategy as i mainly chase trends....but it can be very effective if combined with the usual other o/b o/s indicators on the pair chart identified as alpha divergent in the g8 ..........like BBs and RSIs etc ..........you could easily combine price action patterns and perhaps some S/R levels to complete the strategy

you will normally find that CAD , Yen and GBP will dominate this strategy in pairs .....because they are the most volatile normally ........interestingly if yuo found an alpha divergence with currencies that are not on this trio that indeed would probably be worth looking at for a retrace trade

look at below ....5 min london morning on a 20ma FXCorrelator

see how the Yellow yen , red gbp and brown cad are ALWAYS either max or min value currency ?

sure some of them do reverse ..but the skew of the MA will always look better than it normally is

happy to talk more on this my friend ...........

had a great morning selling Cable today

N
Attached Image (click to enlarge)
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  • #6,724
  • Jan 18, 2019 5:37am Jan 18, 2019 5:37am
recently sold off cable again ..........what a great day so far

took it around 2652 after the big bull move .....down at 2942 at moment ......

too easy today
N
  • #6,725
  • Jan 18, 2019 5:53am Jan 18, 2019 5:53am
heres a

1hour chart
20 ma FXCorrelator
20 ma BB on 2 standard devs

so i look for retrace trades when red GBP and yellow Yen are max and min currencies vs zero line

is it a strategy ......sure its not too bad ......just sprinkle in some additional price action confirmation .....perhaps some S/R confluence ......

ive discussed this at length in many many posts a few years back and its not too bad

I scalp and trade on much higher probability signals than these ...but then again perhaps i am missing something

N
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy retraces.JPG Size: 118 KB
Attached Image
  • #6,726
  • Jan 18, 2019 6:06am Jan 18, 2019 6:06am
Quoting Nvp
recently sold off cable again ..........what a great day so far took it around 2652 after the big bull move .....down at 2942 at moment ...... too easy today N
another recent resell....sold at 2935 to 2926 low .......risky as off the lows of cable ....but then i am also looking at where gbp index was and it was already below london lows .......
  • #6,727
  • Jan 18, 2019 11:30am Jan 18, 2019 11:30am
really interesting ....a trader who found me online has shown me a course he paid for on forex strengthmeters

unbelievable how basic and simple it was ......jees the trader is now very unhappy when i directed him to some of my links below and he saw it all for free...........

this is rediculous ........I have been meaning to summarise all my free work and put it on udemy or somewhere else published as an e-book.....just havnt had the time

i need to pull my finger out and do it ...........

N
  • #6,728
  • Jan 18, 2019 11:48am Jan 18, 2019 11:48am
and finally ............

i have been selling GBP (as cable) all day (as from posts all day above)...........in that time ive scalped cable down from around 2970 to its low now of 2892............80 pips of trading area to scalp and rescalp over around 12 scalps .....

why ? ...........because GBP has been the Alpha bear currency (weakest) all the time from london 6am opens.........its never wavered !!!

so as always ........i follow a simple simple rule

sell the weakest currencies and buy the strongest ones .............

look at this 15m TF chart below on a simple 20ma setting and the red line (GBP)........

it never goes above zero all day

sell sell sell sell sell sell .....GBP !!!!!

sure theres a few rules and and lessons i add to that ....all based on nearly 40 years experience in trading and of that 20 years experience in trading strengthmeters .....

I also think most traders would be surprised how i pick and time my entries .......its certainly not on the basic circus of stuff you see out there ...........but i know of a few traders who also use it with lethal effect .........and they helped me develop it to where i am happy today ......some of those mentors appeared on my T2win thread over the years ....and i am indebted to them .....

hey - nothings perfect ..........but I do like to tell people that successful and profitable trading is possible ...........but sadly most people look in the wrong places and give up far to easy ..............usually when their money runs out ........thats the pattern ...

shame .....

have a good weekend gang

N
Attached Image (click to enlarge)
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  • #6,729
  • Jan 19, 2019 11:51pm Jan 19, 2019 11:51pm
You have probably been asked before, or if not surely someone will ask you in future:
Have you considered automation?

I know automated systems are so over-rated, however, for a person new to a system it is much easier to simply attach to a chart and begin, rather than using trial-and-error to test something that may or may not work for them.

Eliminating the human element is always be biggest challenge but most rewarding.
  • #6,730
  • Jan 20, 2019 1:39am Jan 20, 2019 1:39am
hey BP

yes I have worked with a few quants and programmers on EAs and automation......

was there any particular specific area / set of signals you were thinking about regarding strenthmeters ?

N
  • #6,731
  • Jan 20, 2019 1:46am Jan 20, 2019 1:46am
Quoting Nvp
hey BP yes I have worked with a few quants and programmers on EAs and automation...... was there any particular specific area / set of signals you were thinking about regarding strenthmeters ? N
Please don't play coy. I was referring to your system that you alluded to here in this thread, that is the primary intent of this thread. Nothing else.
Have you succeeded in automating your system or not?
If so, I respectfully ask if you would be so considerate as to share it with the community so others can test and possibly succeed in this game.
Kind regards,
  • #6,732
  • Jan 20, 2019 1:47am Jan 20, 2019 1:47am
Quoting Nvp
Hi all I generally post on T2W but wanted to formalise this free system here heres the links to how it all works...save yourself $997 on marketed software that seems spookily similar to mine http://www.trade2win.com/boards/fore...ml#post1112898 http://www.trade2win.com/boards/fore...ml#post1121070 http://www.trade2win.com/boards/members/16081-nvp.html...
As you stated, you have "made attempts" and "worked with quants", but has this "free system" been successfully automated?
By the word "automated", I mean "fully automated", and not "semi-automated".
"Fully automated", meaning executing trades, terminating trades, and everything between. The only requirement is for the end-user to attach the EA to a chart.
Ideally, parameter settings would be few and simple for user-friendliness, but if not, my next question would be if you would provide Presets and performance accounts to compare tester results to yours.
  • #6,733
  • Jan 20, 2019 6:48am Jan 20, 2019 6:48am
Quoting bluepanther
{quote} As you stated, you have "made attempts" and "worked with quants", but has this "free system" been successfully automated? By the word "automated", I mean "fully automated", and not "semi-automated". "Fully automated", meaning executing trades, terminating trades, and everything between. The only requirement is for the end-user to attach the EA to a chart. Ideally, parameter settings would be few and simple for user-friendliness, but if not, my next question would be if you would provide Presets and performance accounts to compare tester...
Hello bluepanther,
I see that a lot of traders around try to create the "ultimate" EA, which will create you money while you sleep but the reality is very different. I am in the Forex industry for more than 10 years and I am currently working for large funds. If we speak about automated trading the thing is that most successful funds who got EA orientation don't use a single model-system and relay on that, they always have a good diversification of the models (low colerated models), which in total will produce them stable results. The point is on the stability not to achieve ultra super results but on an unstable curve. Using the well-tested models which will work on balanced regimes and on-trend regimes, on low volatility conditions and on high volatility conditions, you will cover all type of markets. You need a lot of testings of your models for itself and then in combination to make it work but it is possible. Also, keep in mind, not with a single model. Big mistake from most of the traders around is they think its enough to trade one system. You must be prepared for any type of the market and have good models to profit on any of the conditions. If you use one model and you relay on the single system, I wish you good luck when the system goes into DD period. Even the name automated is where you need every day to track what your robot-model is doing and adjust if/when is needed, so its a constant work from the human side. I trade manually but I have different models-techniques which can capture me profits on any condition, also I can adapt faster than a robot into the transitions between regimes.
"Buy on fear, sell on greed !!!
  • #6,734
  • Jan 20, 2019 11:28am Jan 20, 2019 11:28am
Quoting Petar_Serbia
{quote} Hello bluepanther, I see that a lot of traders around try to create the "ultimate" EA, which will create you money while you sleep but the reality is very different. I am in the Forex industry for more than 10 years and I am currently working for large funds. If we speak about automated trading the thing is that most successful funds who got EA orientation don't use a single model-system and relay on that, they always have a good diversification of the models (low colerated models), which in total will produce them stable results. The point...
My sentiments exactly. It takes a number of good systems to work together, and the synergy effect is desired.
It would be wrong for a trader to pin all their hopes on one or two systems alone.
I have realised this many years ago, but am struggling to find a solution to my problem.
My only real success to date has not been EAs but manual trading. It is not ideal for me.
  • #6,735
  • Jan 20, 2019 12:47pm Jan 20, 2019 12:47pm
hey all

great week in the markets

Inserted Video
  • #6,736
  • Jan 20, 2019 12:57pm Jan 20, 2019 12:57pm
FXCorrelator.com .....see my website for insights and a daily blog re forex market
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  • #6,737
  • Jan 21, 2019 1:58am Jan 21, 2019 1:58am
sorry guys ....i have 4 thirsty builders turned up so doing them some drinks ...will be online soon
  • #6,738
  • Jan 21, 2019 2:06am Jan 21, 2019 2:06am
ok hey gang ....teabreak over

twitchy morning so far .....i havnt really scalped much ....

NZD is the bull currency at moment ............cad the sell

im waiting for GBP to show its colours ..........my impluse is bear off the overnights ....

low 2860s befroe i start hammering cable south

ucad buys and NZD buys are actually the primary scalps
  • #6,739
  • Jan 21, 2019 2:14am Jan 21, 2019 2:14am
Quoted from my Website pm emails

"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

I will respond to you directly on a 100% standalone strengthmeter system I can recommend for traders that doesnt take months to learn and perfect (like my scalping would)

the stuff I have out there on websites and links and youtube videos is effective but a little disjointed and novices will find it difficult to operate if they are still learning the ropes ..............so the 80/20 , the 3 ducks corrie , and other many ideas and strengthmeter systems I offer do need fine tuning from someone who understands the basics ....like a little price action validation , Support , resistance , Stop loss positioning etc etc ..............mainly things I expect a intermediate trader to do second nature without thinking.....just adding their 10% of preferences and spin to my 90% system instructions .....they are not fully documented standalone systems like many people see or buy so I will have a think and pull something together .......

I have many in the attic but I should really pull something together (for free) perhaps on Udemy or somewhere so even novices can trade a decent system with relative confidence if they follow the rules watch this space !

N
  • #6,740
  • Jan 21, 2019 2:23am Jan 21, 2019 2:23am
Quoting Nvp
ok hey gang ....teabreak over twitchy morning so far .....i havnt really scalped much .... NZD is the bull currency at moment ............cad the sell im waiting for GBP to show its colours ..........my impluse is bear off the overnights .... low 2860s befroe i start hammering cable south ucad buys and NZD buys are actually the primary scalps
ok correlation a little screwy today for my favourite cable pair .....half decent signal offered at 2867 a few mins back ...but i really need to wait for low 60 pullbacks earliest to be safer ....cable at 60 now so game on
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