For this reason some pages on the website have been updated.
The following pages have been updated:
FxTaTrader Strategy
FxTaTrader Forex Ranking & Rating list
Stop loss settings
Besides the Ranking and Rating list provided here I will also prepare this weekend the Weekly Currency Score list which will support my analysis for trading in the coming week which is then followed by my Review on the Hybrid Grid strategy.
Because of the high presence of the CHF pairs in the Top 10 it is better to use the Top 15 in the coming period. All the CHF pairs will be ignored for trading until the daily chart starts to show useful data. When looking at the Top 15 in the Weekly Ranking and Rating list we can see that for the coming week the following stronger currencies are well represented for going long: CHF(7x), USD(3x), JPY(2x) and the GBP(2x). The EUR(5x) is clearly the weaker currency followed by the CAD(4x) and the AUD(2x).
A nice combination for coming week may be e.g:
- EUR/USD with the GBP/CAD
- USD/CAD with the EUR/GBP
- AUD/USD with the EUR/GBP
These are just a few examples and many other combinations are possible.
The mentioned pair combinations can be traded at the
same time
according to the rules of the FxTaTrader strategy because
these are all different currencies. By not trading the same currency in
the same direction more than once you may have better chances with
lower risk.
Last week (pending) orders were placed for the NZD/CAD. More details on the (possible) traded pairs
will be provided in my strategy article that will also be published
this weekend. The possible positions for coming week for the strategy
will then also be described.
FxTaTrader Forex weekly ranking
and rating list Week 04 / Sunday 25-Jan-2015
There will be 2 updates during the week on
Tuesday and Wednesday. The Daily and 4 Hour chart will then be analyzed
and updated.
This makes that there will be no more than 48 trading hours between
each update. This is a reasonable period when considering that the
smallest time
frame used is the 4 hours, meaning 12 price bars/candlesticks.
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The FxTaTrader Weekly Forex ranking and rating list is meaningful data for my Weekly FxTaTrader strategy. Besides this list I also use the Weekly Currency Score which is available once a week on this blog together with my weekly analysis on my Strategy. For more information on the FxTaTrader Forex Models "Ranking and Rating list" and "Currency Score" visit the following pages on my blog:
Introduction to the FxTaTrader Forex Models
FxTaTrader Forex Ranking & Rating list
Currency score explained
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Although the explanation may seem simple and clear there is always risk involved. I added a disclaimer to my blog for this purpose. If you would like to use this article then mention the source by providing the URL FxTaTrader.com or the direct link to this article. Good luck in the coming week.
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DISCLAIMER: The articles are my personal opinion, not recommendations, FX trading is risky and not suitable for everyone.The content is for educational purposes only and is aimed solely for the use by ‘experienced’ traders in the FOREX market as the contents are intended to be understood by professional users who are fully aware of the inherent risks in forex trading. The content is for 'Forex Trading Journal' purpose only. Nothing should be construed as recommendation to purchase any financial instruments. The choice and risk is always yours. Thank you.
