FXCorrelator - Scalping system

ok nice movement on the g8 this morning .......Euro and GBP nicely falling and Yen and USD bullish

PERFECT CONDITIONS .....

ive been in Cable selling and also EJ selling so far ......waiting at moment to go back into them

to be able to trade the market you have to be able to SEE the market first and chose your pairs .....

the FXCorrelator (and derivatives) allows you to look at ALL 8 of the currencies on whatever settings you want

load it for free below ........i created it some 20 years ago from the skeleton indicators loaded on the original Metrtrader site .......and some great programmer work I piggybacked ......

N

EJ resells interesting since 120.10 / 11
Cable from just recently 3017/18.....sliver of 1 winning scalp so far ......

3010 the low on cable ......that sucks .....Cable now back at 6am levels .....hmmmm
EJ bouncing at 119.94s .....been better

AUD coming south....means nothing better to do in live markets.....thats a shame for me

slow grind for me this morning......with GBP relatively quiet I have to go to other pairs to make money

EJ and a Sloooooow AU helped today (see chart) ............Watch for GBP pairs as it will take off later....it always does if quiet in morning session

N

morning all ....

ok solid start to day ........yen is alpha bull and GBP fighting for dominance with cad on bear side .....

enough for me to pursue my favourite Cable so far

couple of scalps so far picking up the falls .....lets see where it goes

N

ok classic divergence /convergence play today so far ....

so I played out the divergence mainly on Cable and then sat out of the convergence phase .....

(well actually i didnt but I should've done really....I hate following my own rules ...my achilles heel)

anyway we can now see Cable trading above 6am levels ....so expect some buying opportunities .....or not ...who knows ?

notice NZD and AUD coming bear on an increasingly tight market......if usd stays bullish there will be a few pips on selling those dudes london session .....slow but steady ...so im watching / waiting...will go NZDUSD

UCAD also interesting ......but all scrappy really ..........

give me a nice steady Europeans bias vs opposing USD & Yen bias for a london morning anyway !

N

ok the BOE holds ............im just picking off the easy rebuy trades at moment

nice morning already on Cable .....smooth !

green USD is rarely the most divergent currency to play against red GBP .....but i know how to handle it and lower spreads for scalping than other more exotic pairings

N

3111/3115 interesting level on cable .....waiting for it to come back for rebuys

went in at 3114 ... but jees its tedious at moment .....

usd has drifted bull london session so i shouldn't really be attacking cable buys again .....

one day i will actually follow all my rules .......not sure when though !

hey guys ...heres brexit update

well well well .....what a glorious day in forex market ...excellent trending !

ive stayed mainly on Cable .....initial run was light from 6am ....then i stayed out mainly as it came back and retraced
then from around 11am GMT GBP went on a superb bull run and USD got bearish

ive been scalping upwards in a 80 pip+ bull run last few hous ...even a novice can make money then ....

have a great evening ....nice end to phase 1 of the brexit saga...looking forwards to much more in future as well

N

my mondays get better and better ........

scalped through a 100 pip cable fall so far ......too easy

As a scalper i stop no more than 5 pips on any trade and generally advocate 2% per trade (0.4% per pip)

even if ive only had 50 pip win so far ......thats 50 X 0.4 = 20% return on my bank inside 5 hours

go do the math on scalping ........sure you dont get anything like 50 pips every day..... but equally ive had several hundred pips in some unique trading sessions......(guess what night that was)

https://www.trade2win.com/threads/co...6#post-2772366

N

https://www.poundsterlinglive.com/gb...e-rate-caution

someone asked me why i wasnt "hammering" trades on the E/G pair...

BECAUSE I AM HAMMERING THE GBPUSD pair

why ?

BECAUSE USD IS MORE BULLISH THAN EURO SO FAR TODAY .....(more pips made)

use a strengthmeter ...it will reduce your losses and increase your winners

N

so after stalling in 3070s we are back selling hard down to 3040s now ...

this isnt how i trade .....but look at how sweet cable is today .......show me 3 consecutive bars of buying ?

no ? .....wow....thats a bear market !

Note - this can frustrate the hell out of you guys looking for deeper pullbacks .....

SO ADAPT OR MISS THE PARTY

back in again at 58 ......jees its good today

ok ive got to go do other stuff..............Sterling has slowed anyway last hour or so ....

maybe back later ..

N