FXCorrelator - Scalping system

hey all

big action on CAD and GBP so far this week .....heres the playbook for me on one of my Customised FXCorrelator indicators
this one sets a fixed Zero star for all 8 currencies from sunday night opens

brown Cad has been solid bull but now has fell back
Red GBP went deep bear ....but now having a resurgence today - note that s/say Support on chart for where GBP bounced

So how do i trade Forex ?

I have been here on this thread for 10 years guys and havnt really wavered from how i trade and teach this stuff from 2001

I use my FXCorrelator (See website below)........it tells me what currencies are doing in relation to each other

based on the timeframe and Zone I am working with ........if im scalping .....im looking for what the currencies a doing re trends , Support levels , resistance levels , correlations between currencies (and non correlations).....and many other things

once i see something that is part of my strategies and related triggers ...I get involved and trade ......

thats it ..........

im always here at FF no matter how busy i am and will respond to you if you have any questions ...ive been trading since the 1980s and forex professionally since 2001 .........this correlation thread has had nearly 2.5 million views in 10 years and I am extremely grateful to everyone I meet and talk to along the way ......

always be the eternal Student and be curious and humble in your trading and mindset

cheers guys
N

fxcorrelator.com

so guys ....

I have been trading but in truth with other consultancy work so pressing im not really posting and broadcasting a much as i want to across the other forums and my own personal websites etc etc

anyway where are we ? - lets talk september

heres a fixed FXCorrelator....zeroises all currencies on 1st September to see where they are now and approx relative pips generated

Well amazingly wev'e seen a very good Sterling performance .........but sadly the Boris antics in the last week have ended the jamboree as Parliament is recalled and the whole depressing and debilitating party is back in town

ive had a good run through this period ...and this week especially as ive sold GBP through the floor anticipating the retrace.......
(See second chart)

that all i do guys ....i look for relative Currency strengths and weakness on charts like this (and my free fxcorrelator available in links below) and then go with the trend on the BEST PERFORMING PAIRS

does this work ? ..........sure most of the time ...and if you introduce all those things great traders do to the strategy (MM, discipline, timing , execution efficiency, etc) then it makes money .....

anyway always happy to chat guys

have fun
N

Im very humbled to receive a lot of feedback on my work here over the last 10+ years ......thanks guys

Hi Neil, my name is XXX and I have been attempting to be a full time trader for the past 4 years when I first funded an account. First in stocks but the past 6 months in forex. I am 26 years old and live near Toronto, Canada. I discovered your website by first watching and reading NoNonsenseForex and subsequently your forexfactory post about VP. From there I looked into your trading style and found your approach to currency strength meter trading. For a couple weeks now I have been using the strength meters to help filter signals in an amateur system that I put together with the help of the structure that VP provides. I can already see improvements in eliminating many bad trade entries! So I wanted to thank you for that so far. The indicator, your free 2013 FXCorrelator, has opened my eyes to where the better opportunities can be found instead of just looking at each chart as if they are equally valid at the same time. VP spoke out against strength meters but after reading a lot of your posts on T2W and forexfactory, as well as putting the correlator on my charts, I am seeing a lot of value in your method. I was wondering how things have been progressing for you, and if there are newer indicators you use instead of the 2013 version. I would be happy to pay for other tools you are working on, especially with how valuable I have found your free indicator to be as a filter in my own trading. Thanks again for the work you have been doing, and even though you've been advocating this approach to the market I am only finding your work now. I hope to keep learning from all the information you have out there.


and my response - some parts removed as i cannot specifically advertise some of my own resources and sources

Hey XXX

thank you so much for your kind comments ...ive been using strengthmeters for nearly 20 years now and know what they can do....

so its great to see fellow traders getting into the groove as well !

in truth a lot of my more advanced indicators (there are many) are all tied up under confidentiality agreements with programmers and traders who built them with me over the years .....

In terms of other variations i can only recommend you take a look on this page and pull out anything of interest ....like the triple corrie ?

https://www.trade2win.com/threads/co...7#post-2773474

heres the other page on my website with everything

http://fxcorrelator.wixsite.com/nvp1...-links-systems

the basic 2013 indicator is still the original and best machine though ...like a vintage wine it just gets better and better for those who know how to use it .....

Good trading and please feel free to contact me whenever you want to

best regards
Neil (NVP)

good morning everyone

I am currently engaged in a variety of business projects and startups so I am having to limit my Forex trading, training and mentoring work.....not sure when it will come back to previous levels

meanwhile i am still trading on a daily basis ......not as intense as before (ie 6 hour scalping sessions) ....but always in background hunting out the best signals and alerts using my FXcorrelator indicators and strengthmeter strategies (linked for free in signature area below)

lets look at october.......

yellow Yen is the alpha bull play so far ...reflecting the jitters in early october equity markets
still only some 100 pip net gain vs market .....so not really that significant for a weeks action

Cad is struggling perhaps of the back of a softening dollar outlook and elections later in october.....
its been nearly 150 net pips down so far .....lets see where this plays

Rest of G8 are relatively flat plays so far ....sterling and Euro will increase in volatility as we approach the 31st October
Brexit deadline with EU and parliamentary negotiations and Boris's inevitable antics within

I continue to generally watch GBP pair opportunities (cant help it its my favourite currency to trade) ...although using the FXCorrelator if i see predominant strength or weakness in any currency then ie will look to trade it in most attractive pairs

theres about 10 years of Thread here talking about how i do that so wont bore you now !

have a great week guys

N

feel free to PM and contact me here or elsewhere and i will get back to you i promise !

hey all

latest Video where i cover who i am and the GBP Bull action this week ....excellent action !

N

interesting day so far .....Sterling is really thumping around my FXCorrelator strengthmeter .....Alpha volatile currency all day

I chased cable down this morning from 1.2600's to its low of 2517s
Then got back in as it came up from 2550's (being conservative)...to 2640's
Now we are seeing a resell phase ........i waited until the resell at 2608 ...down to 2530s

at the moment im trying to resell looking for clues ...but i havnt resold cable as yet

sure ive dropped a few test/retest trades on some of those turning points ...but thats peanuts compared to the overall 3 trend runs of

80 pips south
then 90 north
and now 70 south again ......

be patient ......GBP will post you some money when its ready

this week will all be GBP action so trade those pairs

N

Todays GBP actions are extraordinary ........Boris has agreed a deal with the Europeans .....so onto saturdays drama

about 160 pip swing so far today off the news .......exciting stuff ......saturday will be fascinating ......

I never hold positions over weekend unless i have some serious stops in ....

this weekend DO NOT HOLD ANY POSITIONS ON GBP PAIRS ...unless you have a deathwish

N

I do have 8 seperate currency indexes available here to download ....they operate independently and show you what a currency is actually doing

(check the U USD indicator against a USDollar index to see how they work ) - any Timeframe

Heres more information on using the 8 separate currency indexes

Remember 1 key important thing ....these are independent charts overlaid on one another so they are not equally to scale so always be aware of that .....it merely gives an indication of direction and patterns

heres GBP and USD on same overlaid chart ........notice on the daily that both currencies are recently falling .....although that's a good deal buying GBPUSD ........this means that there were much much better currencies to buy into the USD

thats the power of the FXCorrelator in showing where to trade ......and my other related software indicators like these ones

N

heres cable using the 5 min chart and ive overlaid U and G indicators on the chart

can you see the (usual) behavior of USD ranging ?

can you see the obvious areas to see whee it will retrace ?

can you see GBP rising ?

so look for

any decent resistance signals on USD ...and assume GBP will keep rising.....

see A B C and D for BUY signals on cable

easy ? ......sometimes

useful - you bet !

N

OK

been happily trying to bang GBP buys this morning ...its really stalling now into that GBP RED resistance level shown

cable was good from 2840s to 2910s though ......game over ?

N

morning all and thanks for the input of my fellow experienced T2winners !

ok lets put GBP action in perspective .....everyone is saying boohoo to GBP but if you look at the last week its hardly collapsing is it ?

sure if it falters under that red trend line i might be worried .....but until then i will keep hitting the buy button on big plays

scalp wise i trade what i see......its all about perspective......a 4 hour session is not the same as trading a weekly position ....

thats what i teach people alongside my Relative strength meters approach

N

for example ....this morning I have been happily hitting GBP bull plays from early london open (who cares about the asian session if you were'nt scalping it ? - see second chart below

came back in on cable buy scalps 2915/16.....to 2923 so far

cable 2933....slow but sure

2963........plenty of life buying GBP today

2990......superb mornings trading .....nearly 70 pips up from when i got back in for ride

guys i'm personally trailing around 10 pips back on cable ......still rolling

i came out around 97.....not back in yet ......back later ....no complaints on 80 pip run

lets see what next few mins do ...watching for a rebuy 2970s

just picked up a rebuy on cable from 65 to 75 so far ....nice support level on GBP index