(Strength for one week, No Charts Attache)
Hello everyone,
Two weeks ago I had a very simple idea.
What would happen if I only focused on the strength of 8 majors for a week?
Let me explain this idea further:
Monday 8am (CET)
I checked out the currency strength calculator on this website: Currency Strength Calculator
I'm not quite sure how they calculate the relative strength of each currency, but at the moment I don't care.
For the time period used to calculate intensity, I choose the last 10 weeks.
I then open a trade in the strength direction of each possible combination of 8 currencies, i.e. if the CHF is rated stronger than the GBP, I open a sell GBP/CHF trade.
During the London and US trading sessions, open trades will develop into losers and (hopefully) winners.
At 20:00 in the evening (CET), when the market stabilized a bit, I looked at my trade list and closed half the size of the losing stock. (If the total amount of the negative amount is 800 euros, - I will close the largest transaction until the negative amount is below 400 euros, -).
I will repeat the last procedure the next day at 20:00 until Friday when I will close all open positions.
Last week went well and ended with a nice profit (and a demo of course).
I thought I'd share this idea with you and see what you think of this simple method.
Wish you happy trading,
FB foreign exchange
Two weeks ago I had a very simple idea.
What would happen if I only focused on the strength of 8 majors for a week?
Let me explain this idea further:
Monday 8am (CET)
I checked out the currency strength calculator on this website: Currency Strength Calculator
I'm not quite sure how they calculate the relative strength of each currency, but at the moment I don't care.
For the time period used to calculate intensity, I choose the last 10 weeks.
I then open a trade in the strength direction of each possible combination of 8 currencies, i.e. if the CHF is rated stronger than the GBP, I open a sell GBP/CHF trade.
During the London and US trading sessions, open trades will develop into losers and (hopefully) winners.
At 20:00 in the evening (CET), when the market stabilized a bit, I looked at my trade list and closed half the size of the losing stock. (If the total amount of the negative amount is 800 euros, - I will close the largest transaction until the negative amount is below 400 euros, -).
I will repeat the last procedure the next day at 20:00 until Friday when I will close all open positions.
Last week went well and ended with a nice profit (and a demo of course).
I thought I'd share this idea with you and see what you think of this simple method.
Wish you happy trading,
FB foreign exchange
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