When traders are new it doesn’t matter the strategy, we all know strategies that work and with some experience we find one that fits our pocket and time frame.
That said it has been said give a newbie any trade strategy that works and tell them to use it period with changing it, until they become consistently profitable, then they can experiment and change it but not until cash management is learned.
I like this spread sheet… Was it difficult to program.
Hi Dennis, how do you calculate your currency strengths please, I would like to learn how to analyse the strengths for myself just haven’t found a reliable source to learn from
Visit Post 360
Thanks for the time and effort you have put into this thread Dennis, it’s very selfless of you.
Rgds.
NZD keeps its 6 week run at #1 , Look at that 1hr chart in the GBPNZD, see how price is staying in close contact with the 200ma, nice setup here if we break lower and continue the downtrend
Gunpowder is an English word, in 10th century China it was called “huo yao fa” Huo is Chinese for fire
AWESOME, thank you Maximus
Excel just does the maths, punch in the right numbers and voila, spreadsheet complete
Is there any chance of getting a link to the spread sheet for a download please?
Top SW Trade GBPNZD 400+ pip move today,
Top Trade GBPNZD nails it again, huge move off the 1hr 200ma and we crossed the +500 pip mark from our entry point
There is no link, this is all my personal information, there is a video link on post 1650 that will show you how to create your own SW spreadsheet
I think that this strategy might generally work on techicals. But I am very concerned about fundamentals involvement on market and their fit into this trading strategy. Especially with JPY, while BOJ have huge history on market interventions
Yes, that is correct. I dont think 200 - 300 pips is a big problem. Just because my stop is 300 pips my target is not 600 pips. Richard Krivo who proposed this idea of SW, uses a 55 Donchian Channel on 4H to place the stops, which were beyond 300 pips. But the as the trade goes he will scale out of the position and trail his stop along 55 DC on 4H. He never paid attention to Risk Reward, all he cared was if the market is strong/weak (trending), are there are any resistance/support near by (he was looking for at least room for 100 pips) and a breakout of the channel to enter. And I have seen his portfolio and his live trades it is magnificent. So the ultimate idea was to give the market enough breathing room do to its thing, and take money of the table as market offers, it makes sense given that SW itself is accurate about 70 - 80 %.
Fundamentals that you read about are typically useless as the market has already discounted the price, and I call them “funny-mentals”. However, if you catch on early, before others believe, you might have valuable “surprise-a-mentals” - Ed Seykota
Just a thought 
Its taken me a lot of time to reach this conclusion but I am now also using stops so wide they’re in some cases not even visible on a 6 month daily chart! Of course, they would trigger if there was a disaster like the EUR/CHF 2015 crash but I am now taking profits when the TA tells me to: meantime, if the position’s TA weakens significantly, I can get out manually for a fractional loss.
While back when I was doing martial arts, we used to argue on which martial art is the best, every one had an opinion but after years I realized it is not a question of which style, it is about what suits your personality, beliefs, and your body structure, that makes you a great fighter not the style it self. Like wise in trading there is nothing wrong and right, as long as it makes money for you in the long run nothing matters.
This is good, and surprisingly on the mark with relation to trading. Explains why many profitable strategies are criticised by so many disappointed traders who couldn’t run them.
!