Thank you for your suggestion. I was merely saying thank you for sharing 
Thanks for taking the time for the encouragement Dennis - much appreciated. I do like the idea of the daily time frame and will work on that. Lots to do as I seem to have missed something fundamental here - my GBPNZD sell has just gone from 280 pips in profit to minus 22 pips in deficit. Possibly the latest news is causing the recent 0.5 % GBP drop to reverse to 1% turnaround. So I’ve mismanaged another one it seems. I need to find some rules to apply to make this work. I’ll do some more
research. Thanks so much once again.
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Same scenario for me this morning. Went to sleep with 6k and awoke to $900 just like that. I am going to start playing around with a trailing stop losses to protect me from late night spikes.
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don’t worry about 1 day, your in for the long haul, drawdown and all, believe me, it works, keep the faith
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Good idea Kunley - time for me to look at something similar maybe. Good encouraging words from Snowman - thank you
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Im trying 100 pips SL for now. I think its too tight but we will see. Im also thinking maybe giving too much importance of having a good R:R in this way of trading is not a good idea? It is better to give it a room to breath a little and let it move its way.
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Thanks!
Nothing like a good rule of thumb that consistently produces profits in different market conditions! 
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This is where you must have at the very least a break even stop in place, Also taking some profits when above 100 pips. Third, Pound trades are very volatile even more so with the Brexit , if your going to trade the Pound you must employ different rules than you might use for say USDJPY
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Reversal day for GBPNZD, but look how price went right back to the 200 ma on the 1hr chart, will we again get another move lower from here
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Gaining a greater understanding of this price action characteristic is a way forward in this game…
" Children will always return to the parents… " Across ALL timeframes…
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Bang on. Huge GBP political risk right now with the UK’s political crisis. We could see the Prime Minister resign within hours, even though she has survived her own party’s vote of no confidence attack.
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Have you looked at any of the more explosive currencies using this model? Any luck with them?
Such as: ZARJPY, XAUJPY and XAGJPY
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there is a good reason for trading the 7 major pairs and the 21 minor pairs = it’s to do with LOGIC
however, feel free to experiment and share the calculations, the trades, the results with us, thanks
so, with all the questions and only vague answers, been thinking about trading this method and how to go about it; let’s barnstorm up some ideas, who’s with me?
First, from Post 1650, Dennis suggested method:
TRADING THE TREND WITH STRONG WEAK ANALYSIS
- Wait for the daily candle to CLOSE
- Compute the Strong Weak rankings
- When the currencies ranked 1 and 8 give a new pair –
- Enter the trade immediately with a Market Order
- Set a TAKE PROFIT of 100 pips
- Set a STOP LOSS 200 pips
- Trade will EXIT when the TAKE PROFIT or STOP LOSS is hit
- Repeat
Now, is there any LOGIC in determining the Stop Loss and Take Profit? I doubt it, he doesn’t mention any back testing, nothing, just looks like round numbers for convenience to me, what you think?
Even the most novice of trader will read the advice that tells them to be successful, the Take Profit should be at least twice the Stop Loss, don’t even have that here, even worse, it’s in reverse!
So, given that this is an end of DAY method, using DAILY price, let’s look an Average Daily Range for the 28 pairs. Okay, so they vary from 53 pips all the way up to 201 pips, therefore, logically, there can be no one size stop loss fits all pairs for a start. A stop loss of 200 pips is 2.2 time the average of the ADR of the 28 pairs, so let’s look at using 3 times the ADR for each pair, it is a long term method after all.
Your comments, suggestions and criticisms welcome but keep it civil please.
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I always look at suggested strategies found in the internet as being starting places for trading, food for thought as it were, not completed systems to be taken literally. So I apply my own preferences to any strategy I use or try out, and key areas are in relation to stop-loss and take profit levels. These and pyramiding tactics are heavily related to the individual trader’s risk tolerance and there’s no way this should be decided by another trader, no matter how experienced, regardless of the competence of their strategy.
So, what you say is good but surely you don’t think we’re all so stupid as to blindly follow like sheep every word and punctuation that someone posts as a strategy. All due respect to Dennis for his approach but at least I don’t believe he thinks we’re all that stupid.
You on the other hand never fail to demonstrate that this is your belief and I can only find this is a rather sad behaviour because your strategy is not any worse than Dennis’s. In fact you’re coming up with similar recommendations time and time again. That said, I think its worth reading what you post and obviously you think its better but as I’ve recommended before, put your stuff on your own thread.
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Out of respect, yes, please?
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Thanks very much indeed for the pointers Dennis. I shall incorporate those into my strategy as I develop it, and learn from my mistakes today. I shall get there!
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sorry you read such nasty stuff into my posting, nowhere do I ever state that we should blindly follow, in fact I ask for suggestions as to what may be better than the guidelines posted, anyone can contribute
many times I stated it was a method and not the strategy, and again, I make no claims about being better, only it is different with a dash of mathematical logic added
again, sorry if you are so upset
You don’t need to be sorry that I am upset, though you might be sorry for displaying such a condescending attitude.
Once again, do the constructive thing and get your own thread going. You’ve surely made your point over the last few months with regards your thoughts on this thread’s strengths and weaknesses - to coin a phrase.
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Hi Sbrandi:
Would you mind sharing your indicator with us.
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I doubt anyone is trading as per that post. It is easy to see that you need 70% winners for a marginal profit. Possible I guess but I would think it unlikely. As many posters have told you time and again it is a starting point. It allows you to think and begin to get an understanding of how you might use SW rankings as an adjunct to any strategy you have built or intend to build in the future. You may or may not have important things to say and you may or may not be a successful trader. What is certain is you lost your credibility on this thread a long time ago. Do us all a favour. Go away. Develop your own thread and following and leave those of us that you clearly despise to continue in our ignorance
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