Good morning Denis
holding this Kiwi trade open if it is going sideways is going to get expensive - have you ever had to close one of these comdolls due to interest rate differentials eating into your margin ?
You are talking about the Roll, it is always nice if it is working in your direction but it is such a small amount I do not let it influence my trades. If it is affecting your margin then you may be trading too big a position
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Yen moved up a bit but that had little effect on my Top SW Trades
Here is a run down of my last 5 Top SW Trades at there highs today
USDCHF +124 Pips
USDCAD +300 Pips
GBPCHF +229 Pips
GBPAUD +262 Pips
NZDUSD +209 Pips
I would say that is a pretty good win percentage
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Dennis,
One thing Iām coming across is that my brain gets tired after looking at so many chartsā¦Do you simply look at a pair once they move on the currency ranking? Iām currently watching the major pairs and thatās about my limits right now.
Thanks,
Dan
Hi Dan,
The 8 majors make up 28 pairs if you try to watch all of them you will be a basket case. Best traders only trade 2 or 3 pairs some only one. Now you could just let my Strong Weak Rankings give you your trades, or you could have a small list of pairs and let my SW rankings tell which are the best trades from your list. Whatever way you choose, stick with it.
Good luck
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Quote of the Day
By Bruce Lee
I fear not the man who has practiced 10,000 kicks once, but I fear the man who has practiced one kick 10,000 times.
Now imagine how good of a trader you would be if you traded just one trade setup 10,000 times
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Here are my current SW rankings, I will be back later with a rundown of all my Top SW Trades,
If you watch my weekend video then you know about this Head and Shoulder top in EURUSD, today we broke the neckline on a strong down candle, If you are not already short you can still get in as my target is 1.1300 We also might get a pullback to the underside of the neckline that would be a good secondary entry
Here is an update to my most recent Top SW Trades, we have an amazing 12 trade win streak with pip totals ranging from +117 to +788, 7 of the 12 are over 200 pips. We would need to go back to Aug 14th and the CHFJPY short trade to find one to not give us at least 100 pips, and there is a chance that CHFJPY trade could still be a winning trade as it is only -140 pips as I post this
Here is the run down of my last 12 Top SW Trades with max pips gained, Many of these are still active and hitting new pip totals
USDCHF +165
USDCAD +341
GBPCHF +229
GBPAUD +266
NZDUSD +236
AUDUSD +117
USDJPY +144
GBPJPY +232
GBPNZD +788
CADJPY +125
NZDCAD +123
GBPJPY +272
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Excellent work Dennis. Perhaps I need to trade longer term like yourself ha.
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My Top Trades have been perfect over the last 2 months, big gains this week in my active trades, 5 most recent Top SW Trades are all up over 200 pips. No smoke and mirrors here as I document each of these trade setups in real time on this thread
Here is my weekly video where I discuss my Top SW Trades
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US dollar pulls back a little and JPY inches closer to the Top spot, I guess we could jump the gun and short NZDJPY in anticipation of Yen at #1
That is exactly what I have done this morning, jumped the gun with a half position on KiwiYen. Cad is also getting a look at as the second placed downer ā¦
Jumping the gun not looking too good so far today, but many of my Top SW Trades are hitting news highs again after a one day pullback
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Not a SW Trade but GBPUSD has a beautiful uptrend, every pullback has been followed with a higher high if USD strength has run its course this could be good for 300+ pips as GBPUSD funds another new high
USD holds on but Pound surges and so do all our GBP Top SW Trades lead by GBPNZD ( See below)
Yes I was stopped out of that, but given it was Halloween and I was out all day I had placed it tighter than normal.
Big day for all the commodity currencies, looking at our current Top SW Trade NZDUSD price pulled back but finished with an upper tail, this could go either way
Do you still have active positions in all of these trades? Whatās your exit strategy? I tried looking back through the thread but couldnāt find anything. I havenāt started trading yet, but if I was, I think I wouldāve closed the CHFJPY position when it eclipsed the 115 area.