FXCorrelator - Scalping system

gbp getting some bear wind on it now guys ....cmon get in there

4183 .....well ?.........well ????
got to 67 so far ..........I fluked that a little but the gbp was shaping for a sell and usd came north .......
hey I take them good or bad .......
N

the pair where you cannot hesitate is GU .............do or don't .....but done ever ever dither on it ...............it will break your heart
N

I'm still hammering the uj sells ..remember ?
afgain she was at 91/92 and selling back to 87 so far ........frustratingly slow this one at moment

only GU in the frame at moment ..........a little consolidation elsewhere ..........if you have missed the selloff's from 84/87 (well I did offer earlier ??) then not sure you will get another easy bite for a while
N

jees I'm starving this morning ..........going to grab some brekkie .......decent pips in bank so not to fussed if I miss some in next 10-15 mins

later
N

gu falling again .........hold the toast

we have usd now getting fairly solid bull here .............i'm holding the brekkie to play some moves on buying usd into main bull currencies

69's to 58 in 3 mins .........careful but keep selling it on bounces

7am bar time .....................

105.95 the uj ................I will chase it north if it offers up .........

gu 4168...........its bounced ...........so now what ?........tell me when to resell it

what currency is strongest at moment ?
what currency is sitting at a Support / Resistance level ?
what currency is weakest ?
where are the best correlation patterns forming to predict trades ?

damn that's a lot of questions

and that nice man at the seminar said it was easy ........just buy his software and trade when the green light flashed

..........sorry guys ..........its not that easy ........hate to break it to you new comers but it needs a little more than that in the tank to make consistent money .....but it is possible with finding your edge and plenty of practice ........so hang in there !!

N

market is consolidating ..nothing really breaking since 7am bar cracked open.......

will go for brekkie soon if it stays quiet like this

where am I on all those nasty question is last post ?


what currency is strongest at moment ? - NZD actually (??)

what currency is sitting at a Support / Resistance level ? - nothing major flashing

what currency is weakest ? - mr GBP

where are the best correlation patterns forming to predict trades ? - pretty messy at moment

so what does that tell me ...........well it tells me not to put out much cash at moment .....save it for better conditions ......which in scalping terms could be offered in next 3-5 mins ....who knows !!

N

the market has exploded into life ..back soon

hey all ............i'm scalping away still .....sorry no posts for a while ......ok i'm done pretty much..............i'll leave you with the next post that sums up the secret to trading
TIMING
N

my last post this morning was about TIMING ...the most important aspect in trading

Why ?

because actually most traders after some practice / guidance / mentoring are generally pretty good at seeing what direction ANY market is going .......and also if its ranging

so if we were to say don't trade ranging markets for beginners ...focus on trending markets ......

once we have decided a market is trending ...........

its all about timing the entry - right ??

Right ??

ok...........simple ..........time the entry NVP ........that's simple

NO ITS NOT ..........ITS HARD !!!!

you basically have to wait for a retrace and then trade the bounce ........80% 0f my trades are bounces .......I don't like chasing fast moves into a new trend .............and I am not going to gamble on a move already well into maturity

if I do run some stuff next year this is where I will focus a lot of the discussions and training ........a lot of sellinars and vendors gloss over this area because they are scared people will want there money back .....its the real crux to making money ......

TIMING

so I said NZD was a buy and GBP was a sell in the comments above .......well heres the last few minutes on those currencies against the classic currency usd ...............there are pips there arnt there ........i'm my clever boy right ?

WRONG

you still had to get the timing right if you were only risking 5 pip Stops

so welcome to trading .................

T I M I N G



have a good day
N

hey all

2 min pop in ...........as London morning session nearly over ....

nice solid bull yen and usd eh ? ........great buys all morning really
GBP was a sell but has slowly retraced north through morning
Sells have been aud and Euro ......

pairwise .......

the strong usd allowed EU , AU GU to all get to over -50 pips since 6am ....ucad to +50's

the strong Yen allowed the EJ to nearly -100 pips at times this morning

EA swung positive to deliver 50 pips as well eventually (not really with Euro flow but goes to show eh ! )

anyway .....plenty of pips on offer if traders were patient and used timing trading back into the trends
discussed here

N

hey all........I can scalp for 5 mins before a lunchtime call
ok yen selling .......gbp selling .usd flat / selling
easy .sell gu .watching

4169 must hold dudes .........meanwhile I am also on the EU and AU buys looking for bounces