What’s your 2021 **Market Forecast? Any pairs you are looking at? How you plan on adjusting to the market? Anything you want to work on? How was 2020? Biggest wins and lessons? Anything you feel like sharing? PIPEROUS NEW YEAR!!!
I’m positive that for at least the first 6 months in 2021 the markets will act as they are currently doing, and only settle down when Biden is in place, Trump is sectioned, and Covid 19 vaccine has been successfully distributed globally.
At least UK Brexit negotiations with the EU has been resolved, albeit there will be hiccups along the way to relative economic stability. Whether that occurs in 2021 is debatable.
My main lesson learnt is to cut losing trades early, even before hitting the S/L While I hate losing, as do many traders, I hate losing big, more. I regard that cut off as a saving that can be used to fund another and better trade awaiting.
For a mini lot intraday scalping trader, and with a leverage of 100:1 my single biggest trending win was 79 Pips.
I’m going to be much more focused on the GBP this year.
Of course partly due to Brexit actually happening, but also the potential for continued dollar weakness.
I think Gold will have a bumper year Silver too.
I will be running 3 strategies - one to capture limited sections of long-term trends, one to bracket possible break-outs from non-trending chart set-ups plus resuming London opening range break-out trades on GBP/USD (assuming Biden’s inauguration stands). Nothing else planned intra-day.
Another strategy I have only toyed with is a simple 1-day trend-following approach. Its relies on the tendency of charts with the 20EMA above the 50EMA to print more days with higher closes than with lower closes. The win rate with this strategy is 55-60%.
As with all trend-following, losing periods occur if the trend starts to flip-flop, so an additional entry filter might probably be a good idea.
I think so too. I will keep selling that USD for now.
I have been hearing this as well, so I’ll be watching Gold. There’s also been talk of the SPX500 hitting $4300 this year as well (Goldman & Sachs). But again, talk is cheap (and can also be expensive).
If 2020 has taught me anything, it’s that you need different strategies for different market conditions. I’ve been focusing on a strategy using daily candle analysis, with very good results over the past few weeks and am excited about the upcoming trading year.
Good luck to all!