This article is a continuation of the first publication describing trading strategy based on MarketMeter indicator and accompanying CCFs+.
You may find some details about this indicator in the first post, but basically it's a multicurrency indicator showing you changing strengths of preferred market instruments. And in this case they are Forex majors. The best signal is to buy the currency at the top and sell the currency at the bottom. Here is the signals discovered during the last week from 14-th to 18-th of July (all times are CET).
- 14 July (all day long) sell NZDCAD: +25o pts - the chart is shown in the screenshot
- 15 July 9:00-17:00 buy AUDNZD: +30o pts
- 15 July 19:00-16 July 7:00 sell GBPCAD: 0 pts
- 16 July 7:00-14:00 sell GBPAUD: +30o pts
- 16 July 20:00-17 July 12:00 buy EURGBP: +15o pts
- 17 July 13:00-18 July 00:00 (add)-22:00 buy NZDJPY: (-15o+40o)=+25o pts
125o points in total.
It's interesting why the latest position has been enlarged at the midnight of July 18-th. This is because the signal strength increased significantly (more than by 10%) since we opened the position initially.
You may notice that in most cases we exit too early and could possibly earn a lot more if stay in the market longer, but this is the price for high profit factor: we open a position and keep it open only in those conditions which we are almost 100% sure favourable. What one could probably do as a workaround is to set a stoploss and trail it on a reasonable distance to ensure lossless exit in the worst case, and follow new trend in the best.
