Journal to test a weekly trading idea with Demo Trade Explorer
This is a super simple idea - Open trade on Monday - Close trade on Friday - let the market decide the profit or loss.
Question is what to buy or sell that may trend in your chosen direction for a week?
I have been using tradingview's Forex Signal Finder to find currency pairs that have been consistently trending.
I set the signal finder to rank yearly performance, monthly performance, weekly performance and daily performance.
The currencies I choose are Major's, Minor's and Exotics
My criteria for choosing a currency pair is as follows:
Buying
The currency pair must have a strong positive yearly performance
And the currency pair must have a positive monthly performance
Selling
The currency pair must have a strong negative yearly performance
The currency pair must have a negative monthly performance
Also my broker needs to offer the currency pair that meets my criteria.
Once I have chosen the currency pairs according to meeting the above criteria I enter the trade on a Monday before London Open and close before New York close on a Friday.
If anyone has ever traded like this or similar - please let me know how you got on.
This is a super simple idea - Open trade on Monday - Close trade on Friday - let the market decide the profit or loss.
Question is what to buy or sell that may trend in your chosen direction for a week?
I have been using tradingview's Forex Signal Finder to find currency pairs that have been consistently trending.
I set the signal finder to rank yearly performance, monthly performance, weekly performance and daily performance.
The currencies I choose are Major's, Minor's and Exotics
My criteria for choosing a currency pair is as follows:
Buying
The currency pair must have a strong positive yearly performance
And the currency pair must have a positive monthly performance
Selling
The currency pair must have a strong negative yearly performance
The currency pair must have a negative monthly performance
Also my broker needs to offer the currency pair that meets my criteria.
Once I have chosen the currency pairs according to meeting the above criteria I enter the trade on a Monday before London Open and close before New York close on a Friday.
If anyone has ever traded like this or similar - please let me know how you got on.