Hi Dennis,
This is a heatmap from oanda i guess they also calculate the same way you do but they downt use the MA i guess. Currency Strength | OANDA
The rankings are similar.
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there are a number of these indicators out there, but I will stick with my own
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Here is another example of bad investment advice from financial media. We are at all-time highs and they are telling you to buy now. Where were they on Dec 26th when this current rally began with a huge in your face reversal candle. You can bet the big players bought on that candle and are now looking to take profits and who will they be selling too, the suckers who take trading advice from financial media
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Back on Dec 26th Yahoo Finance makes fun of President Donald Trump for saying now is a tremendous opportunity to buy stocks. Mr. Trump was correct and these media hacks have egg on their face, but will they ever acknowledge how wrong they were.
Again I never take trading advice from media hacks
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Dennis,
Thank you for the amazing contribution regarding the Strong/Weak analysis, it makes the filtering process so much faster and accurate. This weeks it has made for some handsome moves in the GBPCAD and GBPNZD. I have a couple questions for you if I may ask.
- How do you approach trading during bank holidays like today? Would you pass on non-USD crosses entirely?
- Since the trading ranges might not be normal today due to the holiday in the US, would you still use today’s close to determine your next session candidate pair(s)? Or would you stick to Wednesday’s analysis to use for the upcoming session?
Thanks in advance!
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I stay in trades a week or more so I do not give much wait to holidays as they are pretty much a wash as today was, it would be rare for a slow day like today to give a new trade signal
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Thanks a lot for the reply, much appreciated.
Hi Dennis! Im a complete trading newbie and I just stumbled upon your strength weakness strategy and can’t wait to get busy with it. I read through the entire thread, and have only been monitoring the strength weakness ranking the past one week. Thank you for sharing your knowledge with the rest of us. I don’t know anybody else who trades so this forum and people like you makes it less lonely.
Since I’ve just started this week, it looks like most of the pairs is in the middle of the trend. If this is the case, would you usually jump into a trade in the middle, and how do you know when the trend ends?
Sorry if this seems like a silly question.
Regards,
Yasmin
Hi Dennis,
As you do trades that are often weeks, what sort of consideration do you give to swap? Do you consider that as just the cost of doing business? I haven’t looked, but perhaps you have that factored into your Core 7.
It was mostly a week of consolidation but our Top Trade GBPCAD* gave us over 200 pips for the week, not bad
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Hi Yasmin, There simply is no way to tell how much an establish trend has left, GBPCAD* is our Top Trade right now and has given us over 200 pips from its entry point, now it could give us another two hundred or the trend could reverse on Monday you just never know. Now I do use Technical Analysis and look for reversal signals as a hint that the trend might have changed. It’s when you get those reversal candles that you will want to take profits or tighten up your stops.
Good Luck in your trading
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The Swap also called the Rollover, is the difference between the bond rate paid by one currency over the other, Since most of my trades are weeks not months I don’t pay to much attention to the Swap, It can suck if it is working against you and your stuck in a trade that is moving sideways. But it is sweet when it works in your favor
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Hey Dennis, Thank you for your reply. I’m currently only doing demo trades and so far only 1 trade is in the red. and i’m still hopeful that trade will turn. I jumped into the top trade last week CADGBP (its still the same pair just the other way around right?) hopefully there’s still some steam left on that pair.
I’m excited to see what this week will bring!
Yasmin
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Hi Dennis hope all is well,
First thing I want to say is thank you for such a good thread we all appreciate it.I am new to this game and have been learning over the past couple months about forex and I have completed babypips but this is by far the best thread I have read and many others would agree. From what I gathered throughout the thread is that it’s down to each of us personally how we apply SW analysis. I’m just curious to how often you take a trade I think I have read you saying you might not take a trade for a couple weeks is this true? And if so why and what signals a good trade to you bare the 2% difference from the SW formula you use like do you use indicators like RSI or Fibonacci at the exact time you are about to do a trade? Has this year been a good year of trading for your SW trades and do you think brexit will give good opportunities for this system?
Cheers Shane
Top Trade GBPCAD* hit another new low today but finished up, could just be due a pullback
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Hi Shane,
It has been a so,so year, I like getting in on the big moves like +1000 pips and just sit in the trade for weeks, we saw a lot of that a few years ago when it looked like the Euro was going to fail but in the last two years markets have been a bit more choppy, so you have to take what you can get, I have been taking fewer Forex trades this year just because there are better markets right now, US Stocks, Bitcoin and Gold have my attention. As far as indicators, I don’t use them, candle sticks and 200 ma is all you will see on my charts, and I follow Weekly, daily, 4hr and 1hr charts, In my stocks trading which is geared toward long term wealth creation I am mostly watching the Weekly charts
hope this helps
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My apologies if you’ve covered this somewhere else in the thread, but how do you do your strong weak analysis in instruments other than currencies?
Thank you