Can’t say I share your bullish view of Euro, Euro is a failed idea only kept alive by the Germans, any Euro rally I see as a short opportunity , but like anything else if you pick your spots you can make money in both directions
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You’re probably right about shorting EUR. For some odd reason it’s just been trending upwards over the past month, along with JPY. Looking foward to seeing your strength/weak table and mid-week video.
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Here is my Strong Weak for Wednesday , NZD pulls back and CAD rallies a little, this is all good as it sets up new entries.
No video this week, much to busy with the holidays, well try to get them going again first of new year.
No trading on Friday so this will be last post until Sunday,
Merry Christmas everyone
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Enjoy your holidays buddy. See you after Christmas, if not then in the new year.
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Here is where we are starting the week with NZD still our top currency, lots of weakness in both CAD and GBP
looking at my top SW trade NZDCAD shows little sign of topping, only 4 down days this month and they were all followed with another step up, early Sunday trading points to more gains
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Last week of the year tends to be a slow week in the markets, that makes this a great time to stop trading and focus on reviewing all my trades this past year, I will be looking at the good, the bad, and the ugly. I will share a summary of my trading year, along with some goals for 2016.
I hope everyone had a wonderful and safe Christmas, and this week I will layout the ground work for a profitable New Year
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SW for Monday,
CAD was weak everything else is just sitting here, I don’t expect much to happen this week so this will be my last SW ranking before the weekend as I work on my year end stuff,
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Year to date rankings, USD was number one for second straight year but the real story is how weak the CAD was, this was all do to falling oil prices, I included 2013 and 2014
USD/CAD was the top buy this year but only two pairs saw double digit returns
CAD/JPY was the top sell, but the bears were clearly in control as we had 9 double digit losers
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Nice analysis. how you calculate the strong / weak currencies. how you exit? Thanx
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I just reviewed my 2015 trades, as expected there were good trades, bad and some darn right ugly. Here is a summary of my Best and Worst trades
Closed trades 139, 74 won, 65 lost
Best Pair EURUSD
Worst pair NZDJPY
Best Trade EURUSD
Worst Trade GBPAUD
Best Currency USD
Worst Currency NZD
My main seven pairs had a net gain, while all other pairs had a net loss
Main 7 pairs EURUSD, AUDUSD, EURAUD, USDJPY, USDCAD, EURGBP, AUDNZD
In all cases my best made more money than my worst giving my a net gain for the year
My next post will be an plan of action to improve my trading for 2016
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Below are the 3 areas that were most costly to my trading acount in 2015 and my corrective action for 2016
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To many Trades : 139 trades is way to many and shows I am letting short term moves take me out of trades. Corrective Action will be to never have more then 3 open trades , Only trade the strongest trends, Use wider stops so not to be taken out on short term moves
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Trading to many pairs: I had a net loss trading outside my core pairs. Corrective Action will be to only trade my 7 main pairs ( EURUSD, AUDUSD, EURAUD, USDJPY, USDCAD, EURGBP, AUDNZD)
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Entry and Exits: I need to show patients and wait for idea entry setups, this means wait for and buy on pull backs to support, place stop loss wide enough not to be prematurely taken out of trade, Take profits of half position when price is extended.
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Here is an article by Richard Krivo, this is who I learned Strong Weak trading from, I have modified Richard’s method a bit but we still come up with the same rankings.
Yen pairs across the board are getting wacked on the first day of trading in the new year, this should mix things up in my SW rankings
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Stocks selloff as yen rallies, but keep in mind, markets normally rally for the week after a Monday selloff
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Yen takes the #1 Spot and CAD back to # 8, CADJPY is not a pair I normally trade but it might be worth a look,
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Been trading it since late Dec, has been reliable so far.
Strong Weak rankings for Tuesday, Yen very strong as equity markets panic
Here is daily chart of top strong weak pair, this is a short on any pullback
EURUSD today closed below major support at 1.0800 support now becomes resistance, if we price pulls back to 1.0800 before heading lower that would be an excellent place to go short
SW rankings for Wednesday, Stocks get hit again and as stocks head south, yen soars , the trade shorting the commodity currencies
SW rankings for Thursday
