FXCorrelator - Scalping system

I trade GBPUSD only pair i trade, How do i get setup like this? been reading thread looks interesting ....

Looks like a great scalping system....

hi there

the FXcorrelator is here below - its a moving average representation of the G8

the 2 x indexes are also here below for GBP (G) and USD (U)

keep the FXCorrelator seperate

but put the 2 indexes on you GU chart together or seperately...then start looking or patterns !

N

Hi Neil, thanks, nice contribution as always, problem I see it´s the scale leak when indexes are overlaid, finding patterns bia backtesting its quite impossible i think

the scales will flex historically if you overlay the 2 indexes ....but you can still detect some patterns from that at least ....the patterns remain but the scaling may render their size insignificant is some cases

A lot of what i do can be problematic regarding backtesting ......hence so few people have persevered with strengthmeters and their derivatives

N

this morning has been interesting so far

europeans going well from 6am UK time ...then gbp came off the pace so been waiting for it to come back into bull mode

picked up cable from high 2820s up to 2840s so far .....easy meat on a great pattern resumption (tribal Bull Europeans)

N

orry guys - crazy few days as one of my consulting clients had a big meeting to prep for with a huge potential customer and i was part of the creative team and indeed attended and lead the presentation yesterday in london

half killed me prepping that ....jees trading is sooo much easier !

anyway will catch up on trading side this weekend ....

N

heres a quick recap of today ..i was a little more active this morning but got sidetracked this afternoon

TODAY

all money going into RED GBP and Flowing out of YELLOW Yen in London morning session ...good luck trading any other pair without those in .....you were trading wrong horses

bit of a kick at around 1.20 UK time ......and since that blip its pretty Slooooooooooooow...GBP still falling off its earlier highs but expect it to kick in perhaps later..as its still Bull for the 2 sessions

have a good one
N

nice day in market so far ...........amazing bull push on AUD and NZD has skewed the tribal plays though ......they have gone to around +30 pips so far each from 6am ....not my go to currencies for london session so had me in a quandary at times

These guys do stick generally when in play ....especially AUD as a solid mover ....I like EURAUD at times like these ....try to add a little more spice than the boring AUDUSD pairing hoping Euro is going to eclipse the volatility of USD ....

dont get me wrong - GBP been out to -30 pips at times so a few scalps there for the cable followers .....and if you have the Balls the GBPAUD has been a dream play in hindsight ..........

anyway lets see what US session brings ........USD is flat as pancake so cant get any worse ......and perhaps the AUd/NZD gang will fade as they have certainly lost the bull momo at present

N

hey gang..........sorry about lack of posts ....been tied up on other projects ...im actually co-writing a book at the moment and its not all to do with trading ......very interesting project ....but my co writer is now meeting the dreaded beast within me called "im bored and this is too much like hard work - can i go trade now please ? "

anyway shes seen all this before with some other projects so handling it well ...should get first draft out in next week then back to trading normality

N

interesting week so far :-

Red GBP went off like a rocket monday .....I hope traders took their fill

Yen is the solid sell so far for first 2-3 days action

Rest of currencies are passengers .....as is so often the case ....remember GBP and Yen are the fireballs of the G8 .....if yuo like your action slooow and boring then avoid them both in pairs ...and avoid CAD as well if you really want to snooze till you lose ........the remaining G5 will be boring to trade but may save you some sleepless nights !

N

FT's approach stimulates a lot of thought and discussion I hope at T2win .......if he wasnt batting 37/37 and was only an average joe here he would have been toast long ago ....

but success is what we are all mainly here for (i hope).....to push the boundaries of our own abilities and to certainly look at what sucessful traders are doing and more importantly thinking ....

anyway the FXCorrelator is a simple indicator ..........and i recommend using it like a blunt instrument .....

generally is i see the violet (base Gold) siting as alpha currency above or below the zero it means gold is creaming the G8 for trend ....in effect traders are moving to / from gold vs the Fiat currencies..........

so if is see this happening and also that greenback is on OPPOSITE side of the zero line to gold ....i take a lot of interest and start looking to trade its move ...


N

Hey NVP.
If I'm not mistaken, you were also contributing with several posts on Dukascopy community site some time ago, were not you?
I admire your dedication and commitment of working with Forex indexes. I tried to do very similar things like you are doing but all my trials I have made with them failed. Being a programmer I spent literally thousands of hours developing and evaluating my own indicators for currency indexes in Java, C# and R. I've never found any statistical edge I could consider as exploitable and profitable trading strategy. It's nice to see that someone succeeded ;-).

I've found another way with some sort of leading indicators. It's good to see that everyone can have own path to profitable trading. What does not work for one it does for someone else. Keep it up!

thanks !

i probably was on there ...i have been on so many forums sometimes I cant remember !

yes we all have our own trading paths to walk.....make it your own .....and go for it !

regarding my own style I do use Strengthmeters a lot ....but it is not 100% of my system ....there are ways to go 100% in using strengthmeter based signals and whilst some are pretty damn good ......nothing compares to mixing them with some other triggers I have developed over the years


N

Well it’s that time again in the UK for us to play our favourite game show..

I haven’t seen any politicians dancing on ice or eating witchity grubs to desperately garner votes yet ....but we still have time !

ok to business.....forex market loves such weeks....

volatility increases and a good trader can make very good returns inside very short periods of time ....

as long as they keep their heads and follow their drills .... No need for heroics and don’t let any big gains go to your heads....you cannot walk on water

...trust me....keep it simple .....stop trading if you are screwing up....and let the trades come to you......be patient and trade what you see

...not what you think you see.....

Do these things and if you have a proven system that works you will be a lot wealthier than you are now by the weekend

Good trading N

nothing really opening up so far this week....

swissie is bull king on a 60 pip move

aussie , Kiwi and Jpy all south to 40s

gbp swingy so far ......nothing exciting .....

ZZZZZZZZ

not worth trying to predict tomorrows outcome .....personally i feel boris WILL NOT get his majority

so i would be looking for hammering sterling south ......but however i will still trade what i see

at the moment for this week I now see Sterling getting sold .....shes now some 80 pips south on the week swinging 110 in the process from tuesdays highs ...............

so i am selling sterling already today so far mainly into Euro as usd and yen both spouth as well (correlations already a little screwed) ........but early days ...i will see how much i trade through the night ....depends on action and volatility .........if we see some unexpected seats won/lost then the fun really starts !

ok since i am limited in only 2 laptops with me abroad and some fairly archaic kit borrowed from a mate i will be lightweight on postings and updates ....i need to focus and use the limited kit i have

ok gang have fun
N

morning all

Sorry i didnt post but one of my laptops was playing up a little and so was on skeleton kit abroad ....

ok what an interesting evening and night !

Brexit dominated the agenda with Traditional Labour strongholds migrated heavily to conservative by voting with their historical strong Leave preferences .........they want brexit done ...

my own personal labour gain theory blew up immediately the exit poll was taken .....but i hadnt traded a bean at that point ready to follow what i saw .....

the arrows show where i was active...i played a GBP bull bias initially but later on it became obvious a range was forming so i tried to play both extremes ..........

well done if anyone caught the initial swings (400 pips overall on the night) ..... im happy having played the initial 70-80 pip GBP second push and then playing the 70 GBP pip range later .......plenty of pips overnight for me

clearly I never came near the astronomical pips available on referendum night 2016 but that will probably always remain a lifetime best for me and many others who traded that occasion

so GBP gets into the 1.20's for Euro and 1.30's for USD .........the market likes a confirmed Brexit in 2020

off to bed - cheers all
N

hey gang ....hope everyones ok ...sorry ive been a little busy and tradign but not posting

ok heads up on cable ....looking to rebuy at moment

N

cable now been to 3028 from 3016 low.....i couldve gone in at 3018 but that was pretty hairy ...3021 did for me ....

i look for 5 pips or so to lock trade ....so job done ....all now about running and exits

soory i didnt post that prev post in time - it got locked ...my T2win has it stamped some 8 mins ago ...N

thats it ...sorry i have some meetings ....i will try to get here more and call more ....sorry guys