COT Report Analysis - a thread on market sentiment

Trading Discussion News and Economy
181

Results from last week.

USD strongest. +586 pips total, the weekly open to close, against all.
AUD close second. + 577 pips.
JPY
CAD
CHF
GBP
EUR
NZD

Majors +15. Highest Major spread over the Comms since feb. 17-21 week. The reasons would be the strength of the USD, coupled with JPY being strong, and also the NZD as weak as they have become.

Putting it into perspective now.
LONG TERM (weekly charts) strong/weak:
CAD
GBP
AUD
JPY
USD
NZD
CHF
EUR
That’s comparatively stronger to weaker over a long period of time. I’ll call it from the beginning of the year.
SHORT TERM (daily charts):
JPY
AUD
USD
GBP
CAD
CHF
EUR
NZD
That’s a shorter view from say the beginning of the month of July.

So, to look at what happened.
Monday: USD was the strongest. AUD and NZD was weakest. EUR and CHF was relatively strong. And CAD not too bad, in top 3.
Tuesday: AUD was on top. EUR and CHF weakest by far. USD was second strongest. NZD was weak, just above EUR.
Wednesday: AUD again strongest. That’s when the floor dropped out beneath the NZD and continued thoughout. GBP was very weak also.
Thursday: USD and EUR tied for the strongest. JPY fell a good bit. CAD still holding up pretty strong until fri.
Friday: Take profit day. Also geopolitical factors. JPY was on top. CAD had corrected much, weakest. USD close second strongest. GBP took some back, from the weeks loses. So, to sum up fri., was all about the majors.

What else happened last week? Well, I was wrong. This is the live and learn aspect here. I said I was thinking the commodities were strong and gonna get stronger. With NZD leading the way. Wrong on both counts. NZD hasn’t even shown any indication that they were gonna turn it around, during the week. So, we got nothing but a trend moving south. We even had good news for them, but, that didn’t matter. I’m sure there are reasons. But, the point is the market had it in for them to be weak. The USD had not terrible news, but not all that great either. Well, the end of the week turned out good for them. So, all in all, you think it would be easier to pick only one out of two choices of who’s stronger. And I picked the wrong side! I remember even on wed. thinking when comm’s edged out majors, that they would take the next 2 days. Man was I wrong! Majors did the come back thurs and fri, BIG TIME. So, what can I learn from looking back on my sentiment? Try to be more objective about it all. Watch for the flow of things.
…Be more objective…

I want to mention some things.
We are here trying to find the market sentiment. And of course we have our own sentiments of each currency. They need to be matched, in order to be sort of successful. The one thing I have noticed is how both you guys have not mentioned the USD. Look, I haven’t been a fan of that economy. They don’t manage their money properly. The economic data is nothing great either. But, what’s important is where the money is going, in the market. And it is undeniable that there are people (institutions, banks, big money pushers) moving the USD on the upside lately. So, I guess my point is we need to be objective, more than emotionally biased, from one currency to another. I’ve been working on that myself for sometime now.
Another point I want to make is that fundamentals are one thing, and relativity is another, and money flow is another. I don’t think there is any one currency that is ALL good. Being an economist is good, to be able to compare all the different aspects within each economy. And then to compare the economies. That is looking at the relativity part of it. But the question is…is big money following those factors? Or are there other reasons why the money flows to where it goes? I think that there are so many different reasons, and that’s why it’s so hard to really know what’s gonna happen next. But until I become an economist (many yrs down the road), I think it’s more smarter to follow price trends, flows for now.
I say all that because of the USD. We have to pay attention to them this week. Once again, are they gonna gain traction?

This week:

USD: There are some potential catalysts coming, from wed. on out. Have money been pricing in already big changes that might come this week? If we compare all majors, who is the strongest? Surely not EUR, CHF. So we have the GBP or JPY. We know about the JPY, their just a fall -back-on currency. GBP then. I guess it could be. All depends on which way the wind is blowing at the time. But, I think the USD is catching the eye of many investors lately. Look at the GBP/USD. Which way is the trend? Favoring the US. So, once again, this week will be another week of waiting for the big catalyst for the USD. I am in some trades with the USD. EUR/USD --been making some pips. The trend has been going down. USD/JPY I got in on fri. am. The trend was going high, but it took a detour (dipped). It hasn’t hit my stop yet, so I’ll see if the trend will continue on monday, which is up.

EUR and CHF-- Thurs. on the onset of london session is coming big news. I think if germany doesn’t show anything good, they will just continue on the down slope. There has not been any thing good coming out of Europe, since all the talk about their deflation problems, this year. And yet, the turmoil going on with Russia isn’t helping matters. So, yeah, at anytime they can rise up, short term, but eventually they both come back down. Like what happened this past week. So, I’m gonna get back in with my EUR long term trades, going down. (I jumped out after they rose, and then later came back down). I have to learn to keep my long term trades seperate from my short term ones. I failed in that respects.

NZD—Ok. My sentiment is them bearish. But, is that what the market sentiment is? They are always either hot or cold. Now we see they are cold. I’m trying to be objective about this. I find myself rooting for them to keep going down. Why? Because isn’t it just great when things go such a long way one way or the other? Yes, of course. I know us traders like to wait for something to happen. One of you guys mentioned about if and when NZD will change course. Well, sure, that’s how the market usually happens, always a turn around. But, we have to remember, right now it is just going one way. Maybe they are on the long haul down. So, I have to say the facts…they are on the down slope now. Until I see a really big candle (daily chart), they should be heading more and more that way. Right? I’m gonna try to stay objective and just watch what happens and not root one way or the other for them. Actually that goes for all of them.

CAD—They are definitely a good possible vehicle to ride strong against whoever is weak. All year long I’ve been wondering if they will go back to being the beat- up- upon currency. And they haven’t! They have always come back from some catalysts that were not good for them. They will have some small opportunities wed. and thurs. to show some strength, economic data wise.

JPY—I totally agree with you guys on them. Nothing but a fall-back on currency. Geopolitical action oriented currency, that’s all.
I will only see good opportunity with them if they are moving weak. Everyone seems to love to go against them.

AUD—Just so interesting. Everyone thought that they will leave the top and start moving down to the basement. But, nope. They have been strong. In fact, just skimming the weeks back (my numbers), there hasn’t been any week where they have not been on top at least one day of the week. When they haven’t, only a couple since may, they were just behind NZD. So, the point is, just as we are always waiting for something to change drastically with them, nothing is. So, therefore they are strong now.

GBP—They, in my mind, are just in the middle of the pack. Can get strong at anytime, can get weak in the same way. Whichever way the wind blows. It is a strong currency, and people don’t mind going up with them. The question seems to be whether they are over valued or not.

So…what do I think? I hope for trends to continue, with more of a degree.
USD – move higher.
EUR/CHF—continue lower.
JPY —drop off and change their trend.
GBP —(shrug)
NZD —continue lower.
CAD —continue higher.
AUD —continue higher.

And as my goal states and I will continue to work on this…IF IT’S TRENDING, I’M IN IT. Long term trades, and short term trades.

Let’s talk.

PS…good write up you guys! I’m taking all your info to heart. Good stuff!

Mike

182

Let’s see if you can make any of this out.
I got weekly charts set up. And each of these is grouped to the individual currency. This is all a birds eye view, out quite far. So, don’t get caught up with the short term. That’s different. These would be good to see for the week in total.

GBP follows:

2014-07-27_1052.jpg700×314 37 KB

CAD follows:

2014-07-27_1055.jpg700×312 36.7 KB

NZD follows:

2014-07-27_1058.jpg700×299 36.5 KB

JPY follows:

2014-07-27_1101.jpg700×310 36.1 KB

AUD follows:

2014-07-27_1104.jpg700×312 37.4 KB

183

USD follows:

2014-07-27_1106.jpg700×302 36.4 KB

CHF follows:

2014-07-27_1109.jpg700×311 36.8 KB

EUR follows:

2014-07-27_1112.jpg700×312 36.6 KB

184

If you have the function of zooming in, probably will help. BTW…the bottom right square is just something extra, so you can ignore that square.
This can help put things into perspective seeing it comparatively in one screen. And don’t forget, this is weekly candles. They say they are more reliable.
If there’s anything interesting you pick up on here, let me know.
If not, it’s ok.

Mike

185

Hi Mike,

it happened to me often in the blogs, there it was a regular problem for me, I was even signed in but for some reason the site always accepted my post only when I posted the second time! After having lost a couple of times what I wrote, here is a solution what I do for longer posts and for the COT analysis what I write:

I do write everything in Microsoft Word and copy+paste it here!

Sometimes I save my word document sometimes not. It is not the point. But I do not have to worry to lose everything. I still forget sometimes to write it in Word and I only remember that I forgot to write it in Word when I click submit. Then I have a couple of second sweating and when it was accepted then I am happy.

Keep up the work and only copy+paste here from now on!

186

Hi rookie,

I cannot say more about the sanctions, only what I read. There is not precise time as it is not an economic report :slight_smile: There might not even be any sanctions! There will be negotiations and we will see what happens. I do not even know if it would affect such huge way the markets again. It was only my thought that I try JPY long for short turn with low risk to make a good catch. But JPY long is not what I like to trade so if it does not work out latest on Tuesday afternoon then I am done with it. Still I would watch out trading JPY and GBP the next two days. With EUR and CHF I do not think you can do anything bad as they are bearish anyway, sanctions would just speed up the bearish tendence :-). GBP is complicated while it is a bullish currency so the effect of sanctions might be a more complicated issue there. By bearish GBP it would be tough to say if it is only the sanctions or a longer-term reversal!

EUR/CAD and CAD/CHF are very interesting setups as I am already in in both of them! Unfortunately CAD is somehow very weak in the last days. Do not ask why, I do not know! If you jump in, you will surely make more pips than me :slight_smile:

Hmmm with AUD, I do not know. Read this great article: Aussie could suffer a lot more if Chinese debt matters | Forex Blog: Currency Currents

NZD: like I said earlier, I have the same opinion, but I hope it gets stronger in the short term!

And it is very true what you wrote: “trade what you see not what you want to see”. I think it is a mistake of mine, because I really do that often. I concentrate a lot more on sentiment and than on fundamental issues, rather than on technical which is not always good. I really like to understand why it goes in a certain direction.

The stop loss issue is something you have to try out and I really do not give any suggestions. The reason is because it is something personal. With very tight stop losses you will be stopped out very often. However you also do not lose much. You have to find your comfort level. And of course it is also important for that fact how long you want to hold your trades.

Actually I did not post anything on the weekend but in the two posts with rookie I wrote down everything how I see the market.

The only thing that we did not discuss is that I am waiting for HUF strength soon, but I think we will not discuss this issue here :slight_smile:

187

Hi Mike,

I just see now that it worked! Great. Somehow I did not see your posts. I am extremily tired now, just cannot read anymore anything else tonight. My weekend was nice but travelled very long distances. I read in the morning forex fundamentals and come right away to read all your posts and by the time you wake up and go to work you will get answers from Europe:-) Have a nice afternoon!

188

Hi Mike ,

Very informative post there! it’s good to see the flow of things in a more organized manner.

There’s so much to look out for that has an impact on price movement in one way or another. You did mention to be more objective and watch flow of things. I can’t agree with that enough. But it’s easier said than done. And I am also trying to trade what I see not what I want to see. I see alot of us tries to predict the future price movement based on our claims /findings/ we somehow convince ourselves to trade a certain direction and look for data to support our claims only and turn a blind eye to the other that doesn’t support our claim. But the thing is there’s no way out there for us to be able to predict where price will head. Because like I said when we are trying to predict we are filtering out datas whether we are aware or not.

You’ve had a very good point Mike! that there’s money flow , movement /shifting/ to one currency to the other regardless of the fundamentals. And we don’t know the reason why that is happening. So it really does make sense to go with the flow ‘the trend’ and watch the flow of things /very good points again Mike! I find myself keep repeating/ instead of trying to predict things. We failed miserably when we were trying to predict NZD last week. Fortunately I got out earlier.

I was always a bit cautious about trading solely with fudamentals /economic calender/ and Ive seen many posts on here babypips people were wondering how positive economic indcators have caused negative movements. What goes behind the price movement is so complex that it’s smarter for retail traders like us to stay on the side and go with the flow instead of trying to predict. But it’s always good to have a bit of everything in just in case. I’m not dismissing fundamentals completely guys.

As regards to flow of things I think COT non commercials have a good stand in this. I read somewhere and I mentioned on this thread earlier that while non commercials movements are same way as what we are seeing our charts commercials move the opposite to what we are seeing our charts. For instance when the pair is trending up non commercials go long in the hopes of price shooting even higher on the other side commercials wait for a better price to sell higher. Hence COT non commercials data and the flow things /as Mike says/ looks pretty much in sync so far for majority of the currencies.

As for USD I agree with you that there are still big movements /shift/ to USD from other currencies and still is a strong currency. It’s not that I was neglecting USD or had lost hope with the dollar. It’s a personal thing I find it complicated to trade for some reason especially when its paired with other majors or comdolls. It may /will/ change. I can’t ignore USD that long. Good to see that you’re shedding some light on USD at last!

I have pending orders for EURCAD short, CADCHF long and I might go long on AUD later during the week. We’ll see how things go. I’m seeing a lot of progress guys! Keep it up! :35:

PS: I like the path we’re heading. It gives more clarity. And the possibility of capturing the big moves that USD and AUD had over 1000 pips in total. Not being greedy or anything I’m just a little fascinated by the possibility that it offers !

189

Hey rookie!

I completely agree with everything you wrote. (you must have some years on ya) (im up there myself) (40’s)
And I am so glad about your view of the non commercials vs. commercials. I think both are important. Both are big players, and the more you see the numbers come out, the more you make the correlation to price. I think it’s important. So, I do lean on you for that, big time.

Thanks!!

Mike

190

Hi guys!

And the gates are open. It’s now about a little over 2 hrs into london session.

The only real movers up to this point is the EUR and CHF have been now edging over everyone.
Also the JPY has been the weakest.
AUD is the highest comm doll, just ever so slightly over CAD.
NZD is moving lower, but not as much as the JPY.

That is the general picture so far up to this point. We’ll see how long the Europeans last being on top so far early in the week.
I’ll try to paint the flow of the weeks moves as it goes along.

Mike

191

Hi Mike,

nice and long analysis!

So here comes the answer for all your recent posts:

USD: I do not think that we forget it with rookie. The thing is that we analyze the COT Report where currencies are compared to the USD and USD is therefore not listed. I usually put in my report the cotbase.com findings on USD or it is possible to look at the USD Index, but like I said it is not listed, for this reason we have less information about the changes in USD.

We should not forget that this week there are light economic calendar in the first days of the week which is the end of the month and there will be many events in the second part of the week. I think today and tomorrow mostly we will see moves on technical levels and sentiment. Fundamentals will turn everything up and down later on.

EUR and CHF: very true what you wrote.

NZD: watch out here. Hard to say what comes. The higher time frames are still bullish for NZD. And I like the carry trade as many others. I only have at this moment 1 long NZD, it loses though but carry trade helps a bit every day. I wait a bit and see if I want to stay in the trade or not. And when looking at the NZD, as you said it is important to decide what is on the other side? Vs. a weak currency the chance is better for the trend not to change. Against a strong currency it is tougher to remain bullish.

AUD: lol, I agree that they are on the top. But not because they are strong. I would say the others are weak :slight_smile:

Altogether when I read you summary, from the 8 currencies I am on the same side with 7 of them, with the NZD I am uncertain. It does not mean I do not think that you are right but I am uncertain.

The chart part: as I work less with weekly charts than you, it was great stuff to see. Especially since my charting program is horrible and I can’t place many charts to my sceen like you. Your charts had two big surprises to me, and as you wished to know if we have seen something surprise we should share it, I share it then with you :slight_smile: The NZD did not look near as bullish on the weekly charts as I thought and the JPY did not look nearly as bearish as I thought. The others were not so surprising.

Altogether a very nice work on the weekend and great improvement in your skills!

192

Hi rookie and Mike,

As rookie says, I also do not find it always easy to trade USD. What is even worse, I still trade it because of the best spreads! Still, USD is correlated with everything possible: all other currencieas, commodities, stocks etc. I mean, ok everything is connected with everything but USD has a stronger impact on many things.

The best things we all agree on EURCAD and CADCHF. I am actually in many long-term CAD trades, one position I opened almost 2 months ago. I had very nice gains but lost a big part of it in the last weeks. You guys have the chance now to hop in for the same price :-)))

I have to mention something on the fundamental news. I agree that it is better to stay on the sidelines before news are hard to trade. I still trade them. And I also take losses. I had worked out 2 systems which work actually good, especially in trending markets. Now I do not see such great trends these days. I think if someone is good in trading the news it means a lot more and faster pips than any other methods. I try to listen to the conferences now live and hear/learn/interpret live. Not easy but I believe if I get used to it, it might give me an edge. I will share later on what is my system of trading the news when there is a clear trending market. It functioned pretty good. However we need more liquidity for that. Maybe in the autumn.

Mike, here goes the question to you: you always posted the weekly results on commdolls vs. majors winning. Can you see any kind of trend in that what the stats show for this week?

Now I feel myself quite updated on our thread after not being here for the weekend so I can start working out the strategies :slight_smile:

193

Hi guys!

Ok FE, I’ll tell you what I know on the split.

Facts: —Majors took it last week (as we know) by +15.
—That is more than the comms beating out the majors in the last 2 consecutive weeks in a row, (+10) total (for comms).
—The last time majors too out them by that much, which was a trend back in late feb. for 3 in a row, the trend turned to the comms thereafter.
—Here’s what’s been happening, from the last week and earlier:
M – +15
C – +2
C – +8
M – +5
C – +16
C – +3
C – +36
M – +6
C – +5
M – +2
C – +17
C – +24
C – +9

That’s fact. Now, I’ll tell you what I think. (really do not know)
It sure does seem that things go either back and forth. OR there will be a trend (of 3 in a row).
But, given the majors really pounced on the comm dolls at the end of the week, it could be a trend starting.
BUT, on the other hand, the majors only took the week in the last 2 days. And that tells me that there probably won’t be a trend indication starting, just yet.
You know how it is…it’s just too early to tell. And to honestly be objective about it, I have to think about it this way. We see how the week goes (I’ll keep up on the flow of it daily), and if we start seeing the majors taking major strides, then it will point to a trend starting. Especially if they take it this week for the bottom line. And on the other hand, if the comms do what they do and bounce back, then it will be business as usual.
Another point to be taken is on the comm side of it, who is the strength, and weakness? If NZD wakes up and starts to correct back up, then they will even out the score. But, if not, AND the other 2 weaken, then we can see that the majors could be on a roll.
Another point I have seen over this year on this split, (and the reason why I came up with this stat), is I have noticed that the comms are kind of buddies. One will surely tail the other. It’s almost like a team thing. But, of course not always. Someone will be really slacking on their part.

So… that’s what I know. We’re just trying to find the flow of this aspect. Trying to be objective as possible.

Glad to see ya back FE!

Mike

194

[B]COT Report 25.07.2014.[/B]

We discussed already what moved the markets and what we expect for this week. It might be interesting though to look at the non-commercial percentile distribution change. I think nothing shows better our development as exactly that happened in the COT report what we expected! This means for me that we cannot take in the long-term analysis into consideration the last weeks’ results as the broad risk off sentiment would give us false signals. All European currencies got worse and JPY got stronger.

We know though what happened in the last three days of last week, and these 3 days were not included in the report. This fact helps us to predict the next report coming out on Friday. What this means, we will see a huge decrease in NZD long positions and positive rebound from EUR, CHF and GBP. I am interested if I will be confirmed on Friday night.

So, let’s see what the COT Report tells us this week. Very important that the percentile factors will always show the non-commercial speculators:

[B]AUD:[/B] 68.37% vs. 69.47% previous week. The strength can be seen that even risk-off sentiment could not shake the ground under AUD.

[B]CAD:[/B] 59.93% vs. 57.43% previous week. Although in the last days CAD was not so strong, we all have bullish bias on it.

[B]CHF:[/B] 36.16% vs. 36.87%. The same comment goes on GBP and EUR: no surprise, European currencies all lost some pips because of the negative effects of future sanctions on Russia will hit Europe too. The rebound of the currencies will be seen in the report next week. CHF had the smallest % change among European currencies. It is also not a surprise as CHF is known as a safe haven currency.

[B]GBP: [/B]61.84% vs. 64.55% previous week.

[B]NZD:[/B] 70.49% vs. 70.50% previous week. There is no change in this report for the NZD but we know what happened since Wednesday.

[B]EUR:[/B] 28.34% vs. 32.72%. We have to look at the EUR as now it has less than 30% long. Shows a very bearish market sentiment.

[B]JPY:[/B] 15.38% vs. 10.51%. This is quite a good difference within a week. We know though that is does not come from Japanese economy but from the gain because of risk off sentiment.

[B]USD:[/B] USD Index reached its’ highest level since the beginning of March 2014. I think USD is profiting from risk off sentiment and weak results of other currencies. NFP report comes out this week.

Good luck and good trades for all of you out there reading charts!

195

Hey guys!

Have look at this article if you haven’t.
UPDATE 1-NZ’s Fonterra cuts farmer payout forecast as prices tumble | Reuters

“UPDATE 1-NZ’s Fonterra cuts farmer payout forecast as prices tumble”

“The kiwi dollar, which is sensitive to the fortunes of the dairy industry which earns nearly a third of the country’s export earnings, fell to a six-week low of $0.8516 from $0.8544 after the announcement”

“Cites slowing demand, high stocks, lower prices”

196

Good morning rookie,

thanks a lot for the link! I woke up and opened my charts, had no idea what is going on. I looked the fundamentals and was no report scheduled. And then I saw your link. I closed the remaining long NZD positions. I change my sentiment bias on NZD.

I always think the best way to understand sentiment is the reaction later on for the news. If currencies are strong they bounce back. If they are weak, they stay on their new level until the next bad news come out. If a good news come out then the weak currencies will bounce back to the downside. I think this is the matter with NZD currently. It does not gain basically anything and cannot bounce back from any bad news. This might be the beginning of the big reversal.

This news will in long-term effect all their reports. Worse GDP, worse retails sales, worse wages, maybe unemployment, etc. The question is when those report come out and when we can see the first signs!

Thanks again

197

Hi guys!

Yesterday results:
AUD, CAD – tied for strongest.
EUR, CHF —next
GBP
USD
NZD
JPY
There was a lot of no-changes (10 pip or less daily difference), within everyone. So, not much movement happened. So, that’s the micro shake out of it.
Comms out did Majors by +3.

So, were now a couple hrs into london, and this is the mentionable:
NZD has dropped much. Rookie, you probably explained it. Good job!
EUR and CHF has been climbing early AGAIN, against all.
USD is stronger against the comms, and with JPY.
COMMS are weaker against majors. (only counting on AUD, CAD)
JPY is pretty weak, mostly against majors.

I’m coming right back. I want to get this out, and want to fill you in on my trades.

Mike

198

One more thing.

What Mike wrote about the USD is more interesting now as Tuesday is already running! Yesterday bad USD reports came out. Did it hurt the USD? No! Did not even care about it!

[I]Here might be my trading setup for the week guys! You do not have to trade it as it is my feeling but I would enjoy a lot such scenario: it would be great to see a very weak USD NFP report. USD would lose value and because of the currency is so strong it would bounce back! That would be a great occasion to trade the retracement of the initial negative reaction.[/I]

Any thoughts on that? I think I might plan now to trade reversals of the negative USD news. However the tendency is quite short and geopolitical conflicts are in the favor of the US. We have to watch out like we do with JPY. But I am still excited about it.

199

Well, here’s how I play.

I have long term trades and short term. I use a portfolio methodology. (rookie, you read the thread)
So, I have stats on everyone who is trending long term, medium term, and short term. I combine the long and medium term trending ones to come up with my entries. That would look like this…++. The first plus is the long term (weekly chart determined). The second plus is the medium term (daily chart determined). And whoever is a ++, I’m in with. The possibilities all can be ++, +R, ±, R+, RR, R-, -+, -R, --. I’ll tell you who I have as a ++ rating. And of course I’m in with these now. GBP trending high against NZD, CHF, EUR. CAD trending high against CHF, EUR. JPY trending high against EUR, CHF. AUD trending high against EUR, CHF. USD trending high against EUR, CHF. So there’s 11 pairs there I’m in. Of course my position size is really small. 1,000 units or 1 micro lot on each.
I have short term trades, based on the 8 hr chart trending pairs. Those change all the time a lot. I am choosy who I go with. Right now I’m in with the USD high against NZD, JPY, and EUR which is on my long term also.
It’s still a work in progress. Last week I climbed up to 700 pips by wed.,(all of them in total) then things got loose, lost down to around +100 pips at the end. And over time I will adjust the position sizing, also adding when the trend goes to another leg higher.
So, there you have it. At least my bottom line is “if it’s trending, I’m in it”. I’m keeping track of trends, so, why not? Plus I think that’s the smartest way to go about it. It is tricky to know when to cut them loose. When their not trending anymore. And hopefully the continued trending ones out- number those who turn over.

Mike

200

Hey FE…
That is very interesting! Been thinking of that now. You know, there’s gonna be a leading up to the news. And sure, if it’s bad, they will drop down to probably what the week started out being. Then start over again. And I see you point, if it’s strong, you’ll make those pips quicker. But, if it’s good news, there’s a lot of pips to be gained from the beginning of the week. Which I’m in on 3 USD ones now.
Anyway…your making a very good point. And probably can come up with a good strategy for that.

Mike