The dollar edged lower in early European forex trading on Friday, but trading ranges have been tight. What will happen to the US dollar? https://www.financebrokerage.com/dollar-falls-tight-trading-ranges/
GBPUSD recommendations and daily Forex recommendations on mobile, e-mail and on-line Published: Friday, 09 March 2018 15:44 GBP / usd trading signals Forex Market Today from Best Currencies Recommendations provider to buy GBPUSD GBP USD
The importance of backtesting and sticking to a strategy
Hi all, I just wanted to share my trading experience with you so far, and maybe help some people who may be in the situation as I am. I started trading about 2-3 months ago. I started with baby pips, opened a demo account, and got cocky a couple weeks into it and made a live account with $100, and every other week or so put $20 extra in. (thank God I didn’t put it more than that). Today, my account stands at around $68, with a total P/L of -$131.76. I have been really uncomfortable losing money, even if it’s not a lot, and that uncomfortableness forced me to realize my mistake. I thought I could half ass a strategy and be a winner in forex, and the market humbled me extremely quickly. I actually didn’t have a strategy at all. It was a lazy mix of a bunch of different typical strategies I saw on YouTube. I also let my emotions get into trades, after a losing trade I would get back in the market in the opposite direction to try and make up for my loss. All bad, I know. I was too cocky. Just like anything difficult in life, you cannot half ass forex. I spent all of Friday testing an EXTREMELY simple strategy on 4 major pairs, and out of 93 total trades over the last 6 months, the win rate of my strategy is 73%. From now on, I vow to ONLY make a trade when my strategy presents itself. Moral of the story is, if you think you can half ass forex, you better wake up right now. Find a strategy, backtest it, and only trade said strategy. Have some discipline. Here is my extremely simple, backtested strategy with a 73% win rate that I got from The Trading Channel on YouTube: Indicators: 200 EMA Requirements: 2 wicks IN A ROW that TOUCH the 200 EMA, that have candle bodies that both close above or below the 200 EMA. If both candles close above the 200 EMA, go long. If both candles close below the 200 EMA go short. Stay extremely strict with the rules of the strategy. Here are the pairs that I have tested this strategy on over the past 6 months, that total a 73% win rate: -GBP/USD: 18/27 winning trades (67%) -NZD/USD: 15/27 winning trades (71%) -EUUSD: 15/20 winning trades (75%) -EUGBP: 20/25 winning trades (80%) All backtesting was done on the H1 chart. I tried on the daily and H4 charts but the frequency just wasn’t enough. In the video that I got this strategy from he was trying to highlight the importance of the frequency of your strategy. Even if it may have a really high winning percentage, if it only happens once a year it’s not a good strategy. Also on a side note, I’ve seen a lot of conflicting opinions on whether or not the US election will effect USD pairs, do you guys think the election will mess with my strategy this upcoming week, or should I just trade my strategy and pay not attention to the results of the election? Thanks for reading, and happy trading Sincerely, u/emopatriot
Anyway, I do chart studies on Mon and Fri, and if there are setups per my current rules, i will cautiously enter the trade on Monday, but rarely on Friday. Although I am now 7 for 7 positive NFP Fridays taking some pips out of the market thanks mostly to simply having BloombergTV going on my laptop next to my trade station and taking things as they are announced in real time. The forex weekend trading strategy that capitalises on gaps is about anticipating Sunday’s opening price will have returned to Friday’s closing price. The ‘gap’ is simply the price differential between the price when the traditional forex market closes on a Friday evening, and the price when it reopens on a Sunday. A major news story, for example, could trigger a gap. Friday is the worst day to trade forex and the reason being that many traders who have taken positions and during the week and now closing their positions for the weekend and these causes prices to fluctuate back and forth knocking out your stop loss. What I’ve also observed is that there’s only a very little window of trading on Friday (often around 2-3 hours in UK trading session where ... Due to its high volatility, Thursday is another excellent day to trade the Forex market. Friday. Something interesting happens on Fridays. The currency pairs that are popular during the Asian and European sessions begin to overlap. They stay almost as volatile as they are on Thursday. Mostly, we are talking about the EUR/JPY and the GBP/JPY currency pairs. Meanwhile, pairs of North America and ... Friday Pros & Cons. Based on the information featured on the Stock Trader’s Almanac, there were years when Friday could be considered as the day of Forex traders. Particularly, all the years ... Should you trade forex on Friday? Friday is not considered to be an ideal day for trading in the forex market because many traders have take positions during the week and they are now closing their positions, as a result the price fluctuates. Trading on Friday differs from all the other days. Generally, new traders make the mistake of taking trading decisions without studying the market and ... Forex Forex is essentially a liquid market of currency pairs that react to global news, events and economic policies. As the currencies of the world vie against each other, traders, corporate businesses, hedge funds as well as investment houses look to trade on the volatility of the currency fluctuations.
All about Trading in Forex and Binary Option Marked. Video Name: LONDON SESSION TRADING ON BLACK FRIDAY ... I just passed on a valid long entry on GBPJPY from a Technical Analysis point of view. Why? because it's Friday afternoon and I don't want to enter the marke... What the brokers don't tell you - Forex Trading for Beginners - Duration: 5:20. Vince Stanzione Making Money From Trading 60,826 views The "Forex Signal Service" will be conducted Monday - Friday from 8am-11am Eastern Standard Time. There will be guaranteed trades every week. This will guarantee a lower cause of stress and a ... In this Bangkok Forex trading vlog, I will be sharing with you how to solve the day trader dilemma of trading or not on Fridays after a good trading week. Vlog #544 FREE Training "Get Funded & 50x ... In this video, Philip discusses some key FX Markets he is watching and how he is setting up his charts this Friday. Please like the video and comment if ...