FXCorrelator - Scalping system

me done for today, finished off scalping som CAD/JPY

scalping this morning for a while ....then a little tied up later on trader calls and some consulting

promising bear action on usd and yen early london......gbp bear so far as well

ive been tracking Cad and NZD, AUD Bulls for opportunities

ultmately im waiting for europeans to show their hands vs the Yen/USD action

GBP looking like it might come bull now ...im monitoring the 3060s zone on cable for patterns

watch this space

morning all

market is dead as dodo this morning so far ......usd looks bear so i am trying to work the europeans as bulls

but scrappy scalping so far ......

N

morning all....

ok still early days ...then im away for weekend

gbp is pulling south but usd is a little bearish as well so no to cable at moment

swissie is the buy .......

but i need market to open up more before storming in .....

N

hey gang

ok usd looking better and better as a bull this morning

im on Cable sells and also Ucad buys so far

N

3366 decent area to get back on ucad ?

hey gang ....well it took some time but my initial plays earlier today above were persued through the day

i got cable sells back again from 2950s.....down to 2930s so far ...i missed the heavy selling from 3010 levels unfortunately

UCAD ive been working from 3370s to 3430s so far ...great run

N

Hey Folks,

Where do I get the latest version of the fxcorrelator indicator displayed on page 350 of this forum?

Thanks a lot.

Hi J


the indicator is here and also ive included the latest links for basic ways to use it ...thanks N


http://fxcorrelator.wixsite.com/nvp100/contact-me

https://www.trade2win.com/threads/co...4#post-3035670

Simple Strategies using the FXCORRELATOR Indicator :-

Ok - I have written literally hundreds of strategies for using my indicator over the last 20 years or so.

However the primary use of this tool is to get traders onto :-

THE RIGHT CURRENCY PAIR(S)
AT THE RIGHT TIME
IN THE RIGHT PLACE

In other words the primary use of this indicator (and any FX strengthmeter) is to ensure traders are only focused on Currencies and related currency pairs with the highest probability of delivering winning trades.

Now there are many interpretations of this - just as there are infinite ways of determining what is a good trading signal or pattern - however in this article I will reduce the criteria to just seeking Pairs with strong trend signals for ease of discussion.

so heres my indicator on a pair that is demonstrating a strong trend .....

(See attachment cable 1)

ok lets remove the other currencies just leaving the Green USD and the Red GBP.....

(See attachment cable 2)

Better ? - ok if you read the guides published above and look at my videos on youtube you will know that the ZERO dotted line on the indicator chart is very important to my trading ......it tells me that any currency index ABOVE the zero is showing bull and strong for the Moving average being used (default 20ma here) and any index line BELOW the zero is showing bear and weak.

can you see how this immediately provides more information than just the dumb and humble yellow 20 MA line on the chart ?

not sure ?....see below and how we can identify the OPTIMUM and powerful situations when both currencies are showing Strength and Weakness at the same time ......

(See attachment Cable 3)

In this simple strategy we should only consider looking for trades when the 2 currencies are on OPPOSITE sides of the ZERO ......as any other time the currencies are on the same side (either both Bull or both Bear) and NOT displaying strong enough BIAS to consider trading

from this basic benchmark a trader can begin to introduce their more familiar signals / patterns and other indicators that they use to trade the market. However by this simple method they will now be able to remove at least 50-60% of the 28 Currency pairs available to trade in the G8 and focus on the BEST opportunities.

This simple and basic Rule is the foundation of literally Hundreds of FXCorrleator trading strategies I have used over the last 20 years ...it is the building block for many i still use , alongside more traditional chart based patterns and indicators combinations

try it in any trend following strategy and see if it helps you start focusing on the pairs that are trending ....rather than your 2-3 favourite pairs (we all have them) that you trade continuously and follow signals loyally.....

REMEMBER THIS

when you decide to trade a currency pair without consulting the Fxcorrelator there is only a 27/1 chance you are trading the best signal

.......do you really want to take that risk ?

N

hey all ....

ok low volatility again today so far (well back to normal really until brexit warms up again)

euro and gbp are flagging sells .......usd is neutral ....swissie , cad indicating a little bull action

far too early to play as yet
N

ok

GBP and Euro are continuing to look bearish and cad has now come south (interesting combos)

Yen , swissie bullish ...and usd hanging bull now

so ive been trying to scalp Cable south and Ucad north....on EJ sells as well

got cable down from 2930s to 2920 now so far (getting better)
got EJ down from 125.40s to 125.20s now so far
got ucad up from 3440s to 3450s so far

but pretty grindy gang ...be careful

Great info, NVP, thanks a lot. Really appreciate it. ☺

hey gang .....been busy this week but been scalping today

ok its been pretty slow today .......finally some afterburners came on for usd earlier and it started selling

got back into cable from around 2910/12 up to 2930s so far

euros got a little bull feel as well......

N

looking at the week ......

Yen and USD both had strong weeks up till yesterday ....looks like traders are taking profit into the weekend

AUD has been the main sell all week.....again getting bought now as traders come out of Yen and USD Aussie pair trades from earlier in week.......

see below
N

NVP, what are your PerAvr and Delta settings?

Thanks.

Oh, I see 20 ans 1 on your indicator so you must be using the default settings. Thanks.

hi there J

yes my default settings are 20ma delta 1 on the fxcorrelator

thanks
N

Didnt have much time for the charts today,
but EURNZD gave me plenty of scalping opportunities all yesterday!
Have a great weekend NVP

hey all ....

just a quick look at the bigger picture on the G8 this year so far

the chart below shows the relative strength (approx in pips) of each currency since 1/1/2018

the main winners so far are Yen and USD it seems ......

Yen (yellow) was the Alpha buy in 2018 ...but has tumbled so far in 2018 (yellow) - its rallying though

USD (green) was ok in 2018 ...but after a little stumbling is now back at 2018 high levels and battering the resistance line (Green)
the greenback is on a roll guys and people are watching

GBP (red) had an annus horriblus in 2018 (like brown Cad)...but a decent 2019 to date ....most people here that follow my trading know that i am a big follower of Cable (GBPUSD) with the brexit twist its been my mainstay for a few years now due to its volatility and rich picking offerings if you know what to do and when to do it.....

other items of interest but i wanted to flag these 3 guys going forward

there are thousands of commentary sites and millions of experts selling traders their opinions on what happens next and what to do ...........but heres the truth

No one knows ..........no crystal balls ........no holy grail (despite what some traders tell you.....)

so find a trading system that works for you.....and test it .....and let the market tell you what its doing based on those rules ..........if you apply your system to the markets with intelligence and discipline (MM) and ensure your execution is 100% perfect every time...........then you will ultimately be a sucessful trader ....I promise you....

if you are trading forex - forgive me for being a little bias in saying that with 28 currency pairs available on the G8 ....you really need to consider using a forex Strengthmeter (like my fxcorrelator) in your approach to ensure optimum currency pair selections......why be trying to trade the pairs with the least profit potential ?

have a good day .........
N