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(binned per thread starter's request) Currency Strength with cont

  • #21
  • May 6, 2018 6:22pm May 6, 2018 6:22pm
I’m here too
  • #22
  • May 6, 2018 6:26pm May 6, 2018 6:26pm
Quoting neilgroom
{quote} Ooops missed the USD/CHF sorry... I new I shouldn't post when I'm half asleep. These are not including scorpionfx. I haven't worked out my big trade for this week yet. I should of said those are the sentiment pairs to watch out for, for the USD. {image}
Is this based on cot report? I mean when it says 81% long does it mean we go short because most of the industrial players are long?

How do I interpret this?
  • #23
  • May 6, 2018 6:40pm May 6, 2018 6:40pm
Quoting hibra68
{quote} Is this based on cot report? I mean when it says 81% long does it mean we go short because most of the industrial players are long? How do I interpret this?
if you read the first post by osjoe you will get a better understanding of the technique. That rating came from here.
https://www.myfxbook.com/en/community/outlook

In quick terms if the % is over 70 and the volume over 5000 we do the opposite. So in the case above we buy the USD as retail are selling it. but there are more methods to get the best of best.
Read the first post and it will become clearer.
The most violent element in society is IGNORANCE
  • #24
  • May 6, 2018 6:41pm May 6, 2018 6:41pm
Quoting stimpy
{quote} Yes remember it's weekly data and you don't know when the banks supplied it. If you go up the tf's you can see where they drop before it sells off and buy before the move up.
Its delayed, but then so is all data.
  • #25
  • May 6, 2018 6:44pm May 6, 2018 6:44pm
Quoting neilgroom
{quote} if you read the first post by osjoe you will get a better understanding of the technique. That rating came from here. https://www.myfxbook.com/en/community/outlook In quick terms if the % is over 70 and the volume over 5000 we do the opposite. So in the case above we buy the USD as retail are selling it. but there are more methods to get the best of best. Read the first post and it will become clearer.
Ok tnx
  • #26
  • Edited 8:11pm May 6, 2018 6:53pm | Edited 8:11pm
Quoting hibra68
{quote} Ok tnx
Here is a quick document I made to demonstrate the process for this week. Keep in mind, in my opinion, this is the bare minimum you should be doing before looking for trades. As Neilgroom said there are more methods & analysis we can look up and share on this thread as it grows, for instance, his method of ranking individual strengths (and possibly the cot report), when everything lines up and correlates it's more probable that we get winners. And as always don't blindly enter trades.

https://drive.google.com/file/d/1RuFH7BFtntKZMR9Gya0mN3Q2X6SEsK9P/view?usp=sharing
  • #27
  • May 6, 2018 7:17pm May 6, 2018 7:17pm
Quoting osjoe2
{quote} Here is a quick document I made to demonstrate the process for this week. Keep in mind, in my opinion, this is the bare minimum you should be doing before looking for trades. As Neilgroom said there are more methods & analysis we can look up and share on this thread as it grows, for instance, his method of ranking individual strengths (and possibly the cot report), when everything lines up and correlates it's more probable that we get winners. And as always don't blindly enter trades. https://drive.google.com/open?id=1S-2JpsF445Pxs0aF1M2wb2pbo-wsTuWm...
Personally I would not trade CHFJPY. The volume is low according to the MFXB data.

My trades for this week based on this strategy, and my own analysis is:

Buy USDCHF
Sell GBPUSD
Sell NZDUSD
Truth is like poetry. And most people f*cking hate poetry.
  • #28
  • May 6, 2018 7:22pm May 6, 2018 7:22pm
Quoting osjoe2
{quote} Here is a quick document I made to demonstrate the process for this week. Keep in mind, in my opinion, this is the bare minimum you should be doing before looking for trades. As Neilgroom said there are more methods & analysis we can look up and share on this thread as it grows, for instance, his method of ranking individual strengths (and possibly the cot report), when everything lines up and correlates it's more probable that we get winners. And as always don't blindly enter trades. https://drive.google.com/open?id=1S-2JpsF445Pxs0aF1M2wb2pbo-wsTuWm...
cool tnx, I was confused before, So I got it right. If the percent of long is high and volume is over 5k we do opposite we go short. Meaning we are biased short.
  • #29
  • May 6, 2018 7:44pm May 6, 2018 7:44pm
Quoting osjoe2
{quote} Here is a quick document I made to demonstrate the process for this week. Keep in mind, in my opinion, this is the bare minimum you should be doing before looking for trades. As Neilgroom said there are more methods & analysis we can look up and share on this thread as it grows, for instance, his method of ranking individual strengths (and possibly the cot report), when everything lines up and correlates it's more probable that we get winners. And as always don't blindly enter trades. https://drive.google.com/open?id=1S-2JpsF445Pxs0aF1M2wb2pbo-wsTuWm...
Your last example on this is wrong. The Volume is well below 5k. I'm not nit picking I just wanted to help you out so new people to the thread don't get confused......Great Job osjoe!
  • #30
  • Edited 8:33pm May 6, 2018 8:01pm | Edited 8:33pm
Quoting bojack34
{quote} Your last example on this is wrong. The Volume is well below 5k. I'm not nit picking I just wanted to help you out so new people to the thread don't get confused......Great Job osjoe!
Oops you are right, I left in my personal version. Im looking at the overall volume (edit: meant to also add this is only my view on minor pairs, not majors), but I don't think that's how Neil views it, ill go ahead and edit to not confuse people.
  • #31
  • May 6, 2018 8:44pm May 6, 2018 8:44pm
Finally a thread that i can reply to....ive been trading like this for years, nice to see someone create a thread geared toward it.....there are more to add in terms of sharpening the accuracy but you guys are spot on when it comes to the core principles....
  • #32
  • May 6, 2018 8:45pm May 6, 2018 8:45pm
Great thread and well done osjoe2! I am in.
  • #33
  • May 6, 2018 8:47pm May 6, 2018 8:47pm
Quoting Diverge
Finally a thread that i can reply to....ive been trading like this for years, nice to see someone create a thread geared toward it.....there are more to add in terms of sharpening the accuracy but you guys are spot on when it comes to the core principles....
Feel free to "add" as long as it in accordance to page 1 rules and it applies to the core principles. We are all here to learn and to improve!
  • #34
  • May 6, 2018 8:48pm May 6, 2018 8:48pm
Quoting Diverge
Finally a thread that i can reply to....ive been trading like this for years, nice to see someone create a thread geared toward it.....there are more to add in terms of sharpening the accuracy but you guys are spot on when it comes to the core principles....
That's awesome, glad to have you here!
  • #35
  • May 6, 2018 8:50pm May 6, 2018 8:50pm
Quoting Diverge
Finally a thread that i can reply to....ive been trading like this for years, nice to see someone create a thread geared toward it.....there are more to add in terms of sharpening the accuracy but you guys are spot on when it comes to the core principles....
Please join in Diverge. Please add anything to the discussion. We are all here to help each other especially the newcomers to forex.. Keep them away from the usual rubbish that is usually posted in the systems thread.

I'm off for some sleep now. It's nearly 3am here in the U.K...

All the best all.
The most violent element in society is IGNORANCE
  • #36
  • May 6, 2018 11:43pm May 6, 2018 11:43pm
Fantastic work guys.

Subscribed
  • #37
  • May 6, 2018 11:51pm May 6, 2018 11:51pm
Quoting neilgroom
{quote} Please join in Diverge. Please add anything to the discussion. We are all here to help each other especially the newcomers to forex.. Keep them away from the usual rubbish that is usually posted in the systems thread. I'm off for some sleep now. It's nearly 3am here in the U.K... All the best all.
Thanks a Bunch Neil for starting the thread. Much appreciated brother...
  • #38
  • May 6, 2018 11:52pm May 6, 2018 11:52pm
Quoting osjoe2
{quote} That's awesome, glad to have you here!
Great work osjoe for taking the initiative...
  • #39
  • May 7, 2018 12:22am May 7, 2018 12:22am
Quoting osjoe2
This was originally neilgroom's strategy that he shared with us in previous thread. We decided it no longer belongs in the commercial section because we are not using any paid services and that it deserves it's own dedicated thread so we can remain focused on this ONE strategy. I will try to maintain the thread as neilgroom does not have the time, however he will continue to drop in and contribute. I have copied over all the relevant information from the other thread and put it below and will continue to update this first post as needed so newcomers...
Subscribed too!
  • #40
  • Edited 1:22am May 7, 2018 12:32am | Edited 1:22am
Hi Neil,
Great thread. Subscribed.

Can you explain your entries in detail. When do you enter the trade if all the conditions are met? Monday begin of asian session or london session or based on some other criteria.

You said you enter 1-2 trades a week, so what is the max DD you expect in your trades or do you exit the trades when the RSI goes below 65 on long and below 35 on short trade.
Your salary is the bribe they give you to forget your dreams
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