FXCorrelator - Scalping system

too easy today .....GBP has come off another 175-200 pips since last post earlier today ...shooting fish in a barrel
too easy today .....GBP has come off another 175-200 pips since last post earlier today ...shooting fish in a barrel

Will GBP Close bear 5 days running ?

Hi There

after Traders quiz me about Forex & my (free) relative strength indicators (shameless Plug)
https://uk.virginmoneygiving.com/FXCorrelator

The Next #1 question I get asked is this ......

Neil - what the hell signals are you using to get into those trades ?????

lets face it ...I smugly post day after day / year after year all these wonderful correlation charts showing the big trending currencies to trade .....1 min charts, 5 min charts , hourly charts ...even daily charts showing where the big movers are

BUT you say .... SO WHAT !!

Jees ...you guys want it all dont you ?!! .... the keys to the Castle ......the secret of the holy grail ....

after some 11 years of being public with my ideas and systems (and before that 9 years working with trading partners, programmers and private teams to develop them) I have never revealed what I do on the coalface ......

Why Neil ? ....why not ?

seriously ?...........

#1 - I have never claimed or wanted to be a commercial Coach or mentor or teacher or Trader or whatever else this group of people call themselves these days on social media and the big trading forums ....I did once run a simple pilot course on Forex correlation in 2011 I recall but it never developed as i wished and after some staff sickness problems I eventually closed it down....never to appear again ...my time was to precious trading and doing other things to make money

#2 - There are many many ways to enter trending trades....type "Trend Trading" into google and start doing the legwork.....do you think that some 20 years of my work will be revealed like a peep show for even a few thousand dollars ?......do you think any of these trading academies, lifestyle traders , schools , gurus and experts actually sell anything useful for a few thousand Dollars .....so go do some legwork yourself and build some systems you believe in...its the only way to become a Trader

sorry about that...maybe one day i will come out with something that reveals some of the stuff i use ...but after 20 years of trying literally everything out maybe i will keep the good stuff under wraps for a while yet .....sorry

as a teaser I have dropped one of my core indicators in here to show where it had me looking for GU sell trades this week.....GBP had a monster selloff week but even GU took a break midweek keeping me out of the fun ....then it got me back in without chop anywhere (unlike the 20ma /RSI / Stoch as shown) ....

go find stuff like this and combine with Relative strength indicators to always be following the big currency movers ...you are then 90% there guys ....good hunting

N

Why do people trade AUDNZD and other such closely correlated currencies ?

maybe i'm missing the point ....(probably)......I look for currencies that are Negatively Correlated and trending ....which does not usually include these 2 guys ......

Heres a chart (indicator available here)..........look at the aussie dynamic duo for 2020 so far
https://uk.virginmoneygiving.com/FXCorrelato

Close ? ....yes ? ......they are glued together compared to others

look at the pippage from trading non correlated / diverging currencies .....CADJPY and GBPJPY for example had put on over 2,000 pip moves verses perhaps a few hundred on AUDNZD....

hey trade what you want .....but you rarely will see these correlating dudes on my hit lists ....

N

Forex Diary 16th Sep 2020

My Fixstart FXCorrelator indicator is showing a steady week so far for GBP ...

Cable as good as any pair to be buying on the dips so far ....

https://uk.virginmoneygiving.com/FXCorrelator

Forex Diary 18th Sep 2020

hey gang ...interesting week so far

my main FixStart indicator on the picture is available here ....

all of my other indicators are free except this one - where a NHS charitable donation is needed .....
https://uk.virginmoneygiving.com/FXCorrelator

why not help others whilst also helping yourselves
(instead of funding Trading academies and trainers in their expensive lifestyles)

red GBP is rocking bull all week
Green USD sits below the zero and selling all week
so cable is one of THE currencies to be buying all week so far (yep its that easy)

what else was worth trading all week ? .....look for another strong Currency and pick weaker ones to pair it with
(clue - the other Bull Currency starts with "J" )

Entries / Exits please ..........Neil ?

Jees you guys want blood for free !!!!

ok ive dumped a few standard indicators on the 1 hr chart here ...plus one of my specials i use personally
(nope no peeking allowed)

you have to decide how you will trade trending currencies

look for shallow pullbacks and attack retraces
look for moderate pullbacks and attack retraces
look for Deep pullbacks and attack retraces

your money and your choice ....i can assure you that different currency pairs will be offering different options to you ...so be careful .....

after some 20 years+ trading forex i'm pretty good at knowing what to look for based on the markets situation / patterns / correlations etc etc ......would be pretty sad if i didn't - right ?

as long as GBP stays above the zero line and USD stays below the Zero line i am happy to attack pull backs as deep as they come ....

see where the 7 RSI and even the 5,3,3 Stoch are falling below key levels ?.....all good hunting areas as long as your currencies are still holding to the weekly trends and zero line (as already mentioned)...

Then look for some basic price patterns for entry .....bull bar close or breach of prev high etc etc ....plenty to look at guys

Im not even going to talk about exits ...go online and google it and experiment ....we all have different preferences for that

Easy ? ............yep once you have a system

Profitable ? ........mainly yes ...nothing is perfect ...and only then if you follow your rules to the letter plus all the other things needed in Trading

if you look closely there are some cracking trades this week on Cable ....so hope you took them as this was an easy week so far ......and yes UJ was also a good pair ....and EJ was sweet as well .....

if you were chasing pairs on same sides of the Zero line this week on 1 hour TF's ....WHY ????

have a good weekend
N

too easy this morning - markets real nice

GBP came off really well after early jostling ...look at USD, JPY (and CHF) blasting off into atmosphere - classic risk on play

100 pip range to sell cable .....classic !

indicator here
https://uk.virginmoneygiving.com/FXCorrelator

N

Forex Diary 22nd Sep 2020

GBP takes a thumping early on in session .....how did I know to start selling it ?

its as clear as day - just look at the chart ! ....(get it here for a small donation to charity)
https://uk.virginmoneygiving.com/FXCorrelator

also - Google "Pullback trading" and start experimenting .....my indicators will already get you on the top 3-4 pairs to trade ...then set up something you like to pull the trigger .....

im not giving my customised stuff away for free on that subject - sorry it took me 20 years to refine and develop !

N

Forex Diary 25th Sep 2020

ive been Buying green USD and Yellow Yen all week ......grey CHF was also a buy ...classic risk on plays

red GBP was THE sell for early part of week .....the steady orange AUD and Turquoise NZD have gradually sold off last 2 days making excellent partners into the Yen and USD

if you didnt make money this week why not start looking at these kind of strengthmeter strategies ?
see Here for details :-
https://uk.virginmoneygiving.com/FXCorrelator

and if you weren't buying usd and yen all week ...what planet are you on ?

N

Forex Diary - Covids impact 2020 to date

jees what a year .....and no shortage of great volatility and Trading opportunities for Forex Traders

heres the REAL market action from mid Feb when global markets finally realised the financial and Economic Armageddon that Covid19 was going to bring....

(this indicator is available here for a small NHS charitable donation)
https://uk.virginmoneygiving.com/FXCorrelator

some 40% wiped off US equities inside a few weeks and the move of funds into
yellow Yen, Green USd , Grey CHF ..........and the blue Euro

EURO ? ...EURO ? ...where did he come from ?...all hail the new Risk play currency ?

Not only did the Euro challenge the traditional (risk on) currencies for Supremacy in February - but by JUNE it then preceded to become the #1 Currency post Covid meltdown ...and still is ...by a big margin !

why ? ..........well actually lots of reasons .....read any decent FX forum or commentary site and they will bore you to death with facts and figures and opinions.....all post event of course .....because hindsight is all they have

So whats next for Q4 ?

I'm not sure folks .....I will trade the signals i see and go from there .......but Im certainly giving the Euro some big respect in my calls.....because at the moment it seems to be all roads lead to Euro regardless of market movements

have a good Q4 ...and be careful out there Forex Traders

N

@NVP Hi Neil, please check your PM and gmail. I sent you a message.

Cheers
David

Hi David - all information despatched - sorry for delay

Neil

Forex Diary 30th Sep 2020

Europeans strongest so far with early spikes from GBP on monday
Selling them into Yen and USD so far has worked well....

The FixStart indicator shown is available here for a small donation to Charity
https://uk.virginmoneygiving.com/FXCorrelator

THE DOLLAR

A lot of commentary at the moment around the demise of the USD and the big shorts in place globally

I offer charts and some simple observations around the Greenback....chart 1 sets the scene for Peak USD in 2020 and Chart 2 shows G8 currencies relative movements since that day (indicator available here for a small charitable donation)
https://uk.virginmoneygiving.com/FXCorrelator

#1 USD has without doubt been the alpha Sell since mid March with 1100 pips fall
and even the (yellow) Yens demise has not eclipsed it ...

#2 USD has rallied in last 2 months since Labor day in early September ...approx 25% and breaching R2 on chart ....now sitting between key support / resistance levels as the US Election looms .....

unless equity markets now collapse I am still relatively Bearish on USD ....certainly will be until I see R1 get breached ....then we will have a game on our hands ...the presidency will be a long and painful fight with twists and turns on a daily basis and a bitterly disputed outcome whatever happens - so bring sandwiches

and if i don't like what the Dollar is doing i simply go play with the other 7 currencies ....sure the USD represents a high % of all trades conducted on the global stage ....but its not the only game in town if its patterns become confused and unpredictable - that's just plain gambling gang...and remember we are Traders

for me the much more interesting currency is Red GBP (Sterling) ....riddle me this ....how can a country with such a poor political response to Covid (so far) and a ragged economic record and reputation now staggering into European Exile be doing so well on the currency front ? (since September anyway)

is the UK finally doing something right or are the other G7 currencies just plain doing more stuff wrong ?

or are we about to see power shifting again going into winter ?

N

Forex Diary 6th Oct 2020

interesting morning ...AUD was alpha sell and took a lot of pips off others for 2 hours

my fixStart indicator (available here for a small donation to NHS charity)
https://uk.virginmoneygiving.com/FXCorrelator

Was immediately screaming SELLS for orange AUD in first hour ....look at it on the chart ! - Sell Sell Sell

AU went some 40 pips south from 6am before retracing ....even half of those pips is a decent scalp haul ?

so stop being a slave to 1 or 2 favorite pairs and embrace the 28 pairs available on the G8

stop losing and start winning !!

NVP
FXCorrelator.com

(too much hard sell NVP ? ....naaah !)

after 20+ years of Trading Forex - ive decided to start mentoring again

heres the marketing plan so far :-

show photos of planes and boats and luxury cars

Fake profile - lie about how poor you were until you invented the trading mastership programme (or whatever other sh*t name you invent for the scammy scheme)

show photos of people throwing money up in the air

show photos of women in bikinis (very high % of gullable traders are 18-35 males)

show completely faked results - audited by fake companies in remote lawless countries

get incomprehensible trailer trash to do fake testimonials on linked in and Tik Tok

put it on all social media and wait for the $$$ to roll in ..........

have i missed anything gang ?

when will yen come back into sell mode ?

Yen sold off big yesterday ...and is retracing at the moment

im seeing a possible Resistance level finally hold here (see chart)

be patient and come back in hard on europeans if it dumps later

N

see no chicks buddy ...

update from last post

i am trying to work yen south but as you can see its very rangy and not running ......maybe we will see another bounce south again in US pm session .....Small wins on buying EJ during that time but very tight and hard work so far..GJ buys were even better

Heres the USD index chart with my Fixstart indicator underneath
(available here for a small donation to NHS charity)
https://uk.virginmoneygiving.com/FXCorrelator

if you are trying to daytrade the european session on usd pairs then its been hard going

Why ?

look at the Green USD ...its swinging up and down above and below its opening around 6am GMT today

you cant rely on it to hold a trend for more than an hour at tops ......

that means if you are trying to TREND trade its killing you on usd pairs ...unless you get lucky

so try to find currencies holding solid trends.....or forget it.....you are traders not gamblers

N