Baruch's Forex System Journal

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Quote from SteveL91:

Aww, jeez. Way to put me on the spot! :D

I really have no way of quantifying which are the best, but I'll toss out a few that I was looking at.

There's always a chance that the bulk of the move has already been made from the time I jotted down my notes and now, but:

short EUR/USD
long USD/JPY
short GBP/USD
long USD/CHF

A pretty common theme seems to be long the USD and short the yen.

FWIW, I decided to take a shot at EUR/USD, USD/JPY, GBP/USD. Not sure how long I'll hold them, but we'll see....

Hopefully, I won't be tarred and feathered if I'm wrong. :confused: :D

Steve
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Hi again,

I understand you are long the greenback, but why long USD/CHF?
 
Greenspan speaks today 15.00 GMT in Chicaga (via video!). Will he say anything about a rate hike? No, I don't think so. But you never knows.
 
Quote from Baruch:

Hi again,

I understand you are long the greenback, but why long USD/CHF?
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No fundamental reason, but I like the way the chart looks. Primarily, the MACD, slow stochastics, and DMI are painting a decent picture. I've found that when those three are lining up, it could make for a good trade. As always, there are no guarantees and I don't really know what I'm talking about.
 
Quote from SteveL91:

No fundamental reason, but I like the way the chart looks. Primarily, the MACD, slow stochastics, and DMI are painting a decent picture. I've found that when those three are lining up, it could make for a good trade. As always, there are no guarantees and I don't really know what I'm talking about.
More...

Hi again,

So you believe much in indicators?

I don't know DMI very much. How does it work?
 
Quote from Baruch:

Hi again,

So you believe much in indicators?

I don't know DMI very much. How does it work?
More...

I don't have any absolute faith in indicators, because they're just that: indicators. They can (key word, in my opinion) give you various clues as to where things are heading but it's up to you to put the pieces together. I know I haven't discovered the Holy Grail, because that's simply impossible, in my opinion. But, if you can find a set of indicators that you're comfortable with and focus on them, and let them play themselves out, I think it's possible to do fairly well.

In terms of the DMI, I'd suggest this: http://www.investopedia.com/articles/technical/02/050602.asp as I'm horrible at explaining things. I haven't mastered it yet, but there are a few setups with it that I like, look for, and think work. The hardest part can, at times, allowing everything the chance to work when you're in a drawdown or in a losing streak for whatever reason.
 
Quote from SteveL91:

I don't have any absolute faith in indicators, because they're just that: indicators. They can (key word, in my opinion) give you various clues as to where things are heading but it's up to you to put the pieces together. I know I haven't discovered the Holy Grail, because that's simply impossible, in my opinion. But, if you can find a set of indicators that you're comfortable with and focus on them, and let them play themselves out, I think it's possible to do fairly well.

In terms of the DMI, I'd suggest this: http://www.investopedia.com/articles/technical/02/050602.asp as I'm horrible at explaining things. I haven't mastered it yet, but there are a few setups with it that I like, look for, and think work. The hardest part can, at times, allowing everything the chance to work when you're in a drawdown or in a losing streak for whatever reason.
More...

Hi again,

All indicators (I suppose) are lagging, and that's the problem with them.
 
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