Another nothing burger day, a little movement in the CHF but everything else held close to its Friday close numbers.
I am not into day trading or as some incorrectly call it Scalping, but these slow-moving markets are just right for that kind of trading
Hello Clint
Interesting, here are closing numbers taken from the FXCM trading station, looks like we disagree by 7 pips on the close and 1 pip on the 200,
was it just NZD what was your closing price USDJPY mine shows 112.33
Hi Dennis,
We agree (within 1 pip) on the USD/JPY.
Here are my prices for Friday, July 13 (highlighted).
Col L is the closing price, and col M is the 4hr200SMA.
Note that I am using a different formula to calculate my SW ratings. (Col N). However, I typically compare my numbers to yours, and generally your numbers and mine are in close agreement (after adjustment for the formula differences).
And, in almost every case, your rankings agree with mine. When our rankings disagree, it’s always because two currencies have almost identical ratings.
Anyway, when I saw a large discrepancy between your NZD/JPY rating and mine, I used your formula (not mine) to try to run down the source of the error.
I think we can blame this one on one of our platforms closing the NZD/JPY with a wonky price on Friday.
It has been a tough summer for trends but one that is working well is SW Trade EURJPY entered on July 10th is was up today as much as 163 pips from its entry,
Looking at our last 5 SW Trade signals market shows signs of trending again, here are the high points for our last 5 trades going back to June 15th
USDJPY + 54
EURJPY + 163
EURNZD + 103
NZDCHF* +55
USDCAD + 184
You just have to keep the faith in these slow times , the trends will start again and we have an excellent Tool in the Strong Weak Rankings to profit from them
Be interesting if you record and report the entry date, entry price, maximum drawdown, and not just the + pips
Have we not had this conversation before, Entry date is the first date it is the TOP SW Trade, the Entry price for tracking is the daily closing price for the entry date. I post charts of the trade as it progresses using a shaded box to show price action since becoming a top trade, if you want the drawdown in the chart below it would have been 28 pips, if that is important to you, you can easily figure it out without me typing on this thread, I am not here to spoon feed you every bit of information about a trade but to summarize, any further details you must do that yourself
Be that as it may, how hard is it to maintain the record from the start, and report it as such?
for example, thusly:
USDJPY = Date, Price, Max DD, Max + 54
EURJPY = Date, Price, Max DD, Max + 163
EURNZD = Date, Price, Max DD, Max + 103
NZDCHF* = Date, Price, Max DD, Max +55
USDCAD = Date, Price, Max DD, Max + 184
Unless there is some compelling, underlying reason not to do that, perhaps, just to focus attention on how great the winners are?
Johnny, you gave me a great idea, maybe I will have a premium threat where you pay $100 a month for the information you can’t live without . Until that time you are just going to have to do a little work for yourself
You can threat me all you want ha ha ha I know you mean thread
Hey daily information is so out of whack, no one can hold a trade more than a day anyway
You certainly could have opened a demo to show how, but can’t even be bothered to do that
I’m only here for the entertainment, thanks
Hey @FX_Johnny come lately… If you read back through the entire thread properly…
You will see @Dennis3450 has displayed every part of his strategy comprehensively, including the formula used, YouTube video on how he collects the input for the formula, time of day he generates the formula and opens his positions… It’s all there in black and white… (and Yellow)
He has answered many, many, many questions sometimes over and over again for respectful posters that require a little help or further explanation, leading I imagine quite a number of them to profits.
Yes there are days where my formula gives a slightly different result to the spreadsheet he posts, but this will be down to timezones, broker feeds, platforms etc… not Dennis’s oversight or laziness…
It’s one of BP’s most popular threads…So if it’s entertainment you want play elsewhere…
Thanks Dennis for the ratings daily… I use them but take other things to determine if and when to take the trades etc…
FXJohnny is just a troll who has to answer every time and question it… Dennis has outlined a great ranking system…
If you can’t do your own research to go with it then what is the point.
There is even the method posted on dailyfx… Bit different but same ranking formula, just that Dennis using the JPY to determine the rankings.
"How to Create a “Trading Edge”
if it’s entertainment you want, go to forexfactory 
Just for Johnny , here is the worst trade of the year with all the numbers
EURNZD short, date 6/14, Entry 1.6578, Draw Down -800 , max profit +6, as of today down -550 pips
Things keep creeping along, Pound continues a slow slide while CAD looks ready to overtake USD at #1
USD was the big loser on Friday, and Pound big loser for the week, but we are still looking at a market-wide tight consolidation
Great topic Dennis. Curious, do you take into account market news or is your analysis based purely on the price action for the day? Either way it obviously works, just wanted to know. Thanks
Hi Dennis I would like to join your forum and if it is OK with would it be possible You can tell me were I could find the rules on how to read and interpreter the Strong Weak rankings. I was reading about you on a thread in Forex Factory . Can I follow You? Thank You very much and all the best
Markets are trending they are just moving a snail pace with periods of sideways consolidation between moves. Good time of year to take a vacation, if you must trade adjust your strategies for the market we have now
I try to ignore the news as much as possible, price action tells us everything we need to know, Most news these days is simply someones opinion and that can be very dangerous to your trading account
