hello,
I hope everybody doing great…new start for the week…would be nice to know each daily trend for the week to make it profitable…
I am wondering if anybody knows a place where I can download free currency strength calculator?
Or if that is not available, some experienced trader would do me a favour and give the formula here…I would like to learn to calculate that…
I do enjoy my demo trading and enjoy developing my system…Forex is like olimpyc games where a lot of bulls and bears are making up international teams to beat each other…and at the end of the day, week, you know how many golds and silvers are in your pocket…but to know this have to know your team…and its strength…and weaknesses…
Thank you for the help if I can get any…
Bambura
The strength of the currency in relation to what?
in relation to other currencies…
I would like to know the currency strength after a trading day, lets say GBP/JPY 35/45, something like this…
is that posssible to calculate?
I’m really glad you ask the question, I would say it isn’t possible to calculate, but the good thing is, that since you asked the question, it shows you’re really thinking about what you are doing.
My view is that you can find out how strong a currency is relative to anything of course, but what you are trying to find out if it’s strong or weak compared to what it’s going to be.
What I’m getting at is, that you can analyse too much, and I think that’s quite possibly where you are.
Are you trying to guage the strength of a single currency (JPY, for example) or for an exchange rate pair (e.g. USD/JPY)?
And when you say “strength” what exactly to you mean?