This journal is to help me improve my trading decisions.
At the close of each trading day (17:00 EST) I will make a predictive rank of six currencies for the next 24 hours. The following day I will then compare my prediction with the actual days ranking. The Predicted list will be ranked from 1 - 7 (1=strongest predicted currency 7=weakest predicted currency)
When making a trading decision, I look to buy currencies ranked in the top 2 places verses currencies ranked in the bottom 2 places. The list is especially useful for predicting whether the market will have an appetite for risk or will be risk averse for the next 24 hours.
For example if the list looked like this:
1.USD 2.GBP 3.EUR 4.JPY 5.CAD 6.AUD 7.NZD I would have a bias toward the market being risk averse because USD is ranked at the top whereas AUD and NZD are ranked at the bottom of the list. So I would be looking to Sell NZDUSD, AUDUSD and Buy GBPNZD, GBPAUD.
Anyone is welcome to contribute to this thread, however please don't ask me how I make my predictions, and please don't risk your money based on this list- do your own market analysis.
At the close of each trading day (17:00 EST) I will make a predictive rank of six currencies for the next 24 hours. The following day I will then compare my prediction with the actual days ranking. The Predicted list will be ranked from 1 - 7 (1=strongest predicted currency 7=weakest predicted currency)
When making a trading decision, I look to buy currencies ranked in the top 2 places verses currencies ranked in the bottom 2 places. The list is especially useful for predicting whether the market will have an appetite for risk or will be risk averse for the next 24 hours.
For example if the list looked like this:
1.USD 2.GBP 3.EUR 4.JPY 5.CAD 6.AUD 7.NZD I would have a bias toward the market being risk averse because USD is ranked at the top whereas AUD and NZD are ranked at the bottom of the list. So I would be looking to Sell NZDUSD, AUDUSD and Buy GBPNZD, GBPAUD.
Anyone is welcome to contribute to this thread, however please don't ask me how I make my predictions, and please don't risk your money based on this list- do your own market analysis.