Can someone list the stongest and weakess currency today

Beginner Questions
1

can someone list the stongest and weakess currency today

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Today USD is more stronger than EUR! Thatā€™s why, now I am with Sell trade here (EUR/USD).

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May I know, SL & TP level of that trade?

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You may calculate strength observing currency co-relation. You may also use currency strength meter indicator to determine strong and weak currency of the day. It is better to develop a strategy rather than defining strong and weak currency. Coz currency strength depends on many things. It may become weak in a hour then it becomes strong in another hours. It depends on socio economic condition of the country.

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Hi Orville, you can download a ā€œstandaloneā€ CSM Application (FREE) from the link below (PC)

Below is a video on how to use the CSM and a couple of possible strategies.
YouTube Link 7 Best uses to profit from Currency Strength Meter

Or if you prefer chart style CSMā€¦ http://megatrendfx.com/additional-forex-indicators/currency-strength-meter-indicator

Over on another thread Dennis3450 is definitely on to something and has been showing his strategy using a CSM. I played around with a similar strategy and it is promisingā€¦

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Can you show here please the performance of your strategy? Like myfxbook link or any similar link?

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Hi Luke, I will never display my businesses results on MyFXBookā€¦ I have nothing to sell, nothing to proveā€¦ all I am doing is providing links to information I have sourced through months of full time researchā€¦ I donā€™t feel the urge to encourage hackers, anyway, I already get enough spam from sites I sign up to.

For me the hardest part of the CSM Strategy is choosing the appropriate TF(s). I opened a position when one currency indicator line crossed above or below other currency lines

eg: GBP/NZD. if say the GBP was losing strength and crossed below say a strengthening NZD, I would place a short on the pair. I would then also check all other NZD & GBP crosses for opportunities.

To use a sporting analogy (F1), itā€™s like betting on Mercedes to beat Williamsā€¦ you know you will win 9 out of 10 tradesā€¦ instead of backing RedBull to beat Ferrariā€¦ where your trade could go either way. You are ensuring that your position has a higher percentage for profit than a random trade on say a pair with similar strengths.

Watch the YouTube video above it gives incite on how to implement CSM Strategies.

2 Likes
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Thank you very much for your clarification!

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https://forums.babypips.com/t/trading-the-trend-with-strong-weak-analysis/77959/978

[Edit - I think @Dennis3450 has a great idea here :sunglasses:]

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