Do you think this has anything to do with Trump. As he is not very predictable and market is in reactive mode.
Hey Dennis,
I just had an idea for intraday trading. It is a kind of filter base on economic calendar. My idea is this, If there is high impact news with regards to CAD, GBP, USD for the day. These currency are to be filtered out. Meaning, we do not trade these currency at all for the day. My rationale is before the news, market will be quiet as everyone will be sitting on the sidelines. After the news, there is often an explosion of pips. Unhealthy volatility i would say. Avoiding CAD,GBP, USD and pairing up other currency with your SW chart may be a steadier choice as the volatility should be more subdued.
Just a thought, whats your opinion about this idea of mine?
It is not Trump but the Deep State/CIA with all their fake news Russia B.S. but the markets have not been effected that much, This year has been mostly a sideways market for both currencies and Stocks
Just an update. Entered AUD/JPY, GBPJPY, NZD/JPY and still in NZD/CAD. Locked in on GBP/JPY and NZD/CAD and others starting to move now. Will wait for entering any other CAD trades yet though.
Hi Dennis, I know you trade for as long as possible but if I saw a 200 pip profit reduced to 100 pip profit I wouldnât be too happy. Have you got any decent exit strategies that would work well for holding the trade for a longer period?
Thanks.
Edit - I tried divergence using ATR and all 4 trades were showing divergence. Closed 3 trades, all YEN and left the NZD/CAD to play out. Lost a bit of profit.
Further Edit - Should have waited until the candles closed because although it was looking grim, they were not out yet!
I included the last three days, look how the price went right back to what it was on Monday, it is a strange market
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Take profit using a limit order for 100 or 200 pips in half your position and left the rest run setting a limit order of 500 or more pips and a break even stop. You can always take profit at anytime you donât have to wait for a limit or stop to be hit, but if you find the ups and downs of the market are making you crazy then you might be better served to set your stops and limits then not look at the charts for a few days.
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OK thanks, will give it a go when we get a really good set-up!
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Behold the power of the Pinbar, also called a hammer, this is one of the most powerful technical signals you will find, Here we see the Dow 30 up today over 400 points off that Pinbar, see how the lower candle hit the 50 ma then reversed. When trading stocks the 50-day moving average is where the action is. Now strangely enough on a big day for stocks, our Forex market is flat.
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I have never had much luck trading around the economic calendar, I prefer to just ignore the news and trade the price action. But if you can find yourself an edge then go for it, let us all know how it works out
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Markets have been flat most of the day so I am pulling these numbers an hour early, the weaker currencies closed the gap a little bit, rank order mostly unchanged
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Flat is sexy. it bodes well for intraday contrarian trader like me.
That is what it is all about, find yourself an edge and profit from it
looking through the weekly charts, Only Canadian and New Zealand were up this week against the Yen. but all finished the week very close to where they started, AUPJPY is giving us a nice weekly pinbar reveral, that makes the whole commodity currency sector bullish, with US Stocks posting nice gains especially in the DOW, I will be looking for these trends to continue into the coming
week
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From Friday to Friday we did not see much movement, our two newest SW trades are NZDJPY, and GBPJPY they have done nothing and are even negative at Fridayâs close, As I pointed out last week, Yen trades have not been doing well and these last two are continuing that trend, Remember we are Trend traders and when we see a trend that goes against our SW rankings then we must respect that trend
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Hi Dennis,
I read some where in the thread that although you look at all pairs, you donât trade all of them. Could you please shed some light on what pairs you prefer to trade and prefer to eliminate, and maybe reason for these selections?
Thanks 
Hi Dennis,
Due to the inconsistency of the Yen , Iâm now trading 1 vs 7. Still using your Strong vs Weak formula utilizing JPY pairs.
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That has been a rule from my trading plan, but it is one I may be changing soon has it has kept me out of a lot of good trades this year. But on that note there are those who only trade one or two pairs and will use my rankings as a guide as to when to enter a trade. There are many ways to trade, you just need to find what works for you and stick with it
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So what do you plan on doing when JPY occupies position 1 or 7. Stick with the system as is. You should never tweak your strategy just because of a few bad hits.
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