China might be the biggest economy (or on its way there) but not in the Forex market.

USD is the “reserve” currency for central banks and all commodities relate to it, such as Gold, Oil, Metals, Grains etc. They are all bought and sold in USD.

That’s why CNY takes so little part in Forex.

There is some “movement” in this situation. China,…[Read more]

Yes Brother,  Reference Day is one day area where you get your ‘bias’ reference for the next trend, of course you could also trade at that area but with more ‘precaution’ since mostly this is the moment when we don’t know where the price will go next..

MTH

Hi Brother, it work on your oanda strategy tester but with wrong behavior..,  as long as EA could open/close  positions in back test / strategy tester then it mean the main function of EA  to open/close position work.  So, the next problem is how we could find correct setting to fit that broker MT4 environment  because sometime the exactly same…[Read more]

Yes Brother, hopefully I have time to create that video..

Hi, Brother,  Are You use Oanda MT4 Demo account ?,  as far as I know,  this US based broker don’t allow hedge positions and also use FIFO rule. This EA only support non ECN outside USA base brokers, due to the interlocking positions concept..

BTW, maybe you could still try to set yo…[Read more]

Hi Brother, Thank You for your post and Idea..

Yes It could be done,

In General any MTF Indicator could also use with Renko Chart to create MBS Indicator… lol (Multi Brick Size)..  as long as the reference renko chart is there to read by the indicator.

So, if your main renko chart is 8 point brick size with TF name M11,   to put MBS In…[Read more]

Hi Brother from your Journal, I don’t see any error related to EA,  the errors list only tell that your H4 data feed mismatch and need to refresh, if you want 90% test Quality.

You should use demo account, and also make sure to allow DLL, etc in your Tools / Trade Tab setting.. and tick visual back test to see chart  (I am sure you already k…[Read more]

MTH

My Brother, is not about market share, but it’s about ‘Who’ control the high market share currencies. China owned 1/3 world circulated USD, 1/4 world circulated Euro, and 1/5 world circulated JPY…lol.

And why World Bank only say 1.1% of CNY market share ?, because they can’t forced China Government to disclosed their current account. While…[Read more]

Hi Brothers,  Thank You for all of your help and suggestions.

Yes, actually this is only basic concept, the most plain and simple concept of trading,  “if current price higher from open price then go long and if current price lower from open price then go short’,  and the rest is how to deal with the market condition after that. We don’t need an…[Read more]

Thank You GG53,  At least My Kindergarten calculation at my previous post, incidentally.. use this 3 currencies.. lol. only because basic understanding that this 3 leading currencies of America, Europe and Asia.. regions,  but also I use the ‘shadow’ currency  for ‘anchoring’   that is CNY.

Best Regards.

MTH

No, that’s not the case.

You should, or can, trade any currency that is going up against any other currency that is going down – and the same for opposite direction.

I gave the example of the USD, EUR & JPY to make the connection to the “market share”. Those 3 currencies make more than 70% of the total volume of the market, and if you find such…[Read more]

Be careful with EU pairs generally speaking.  For sure there is a good opportunity to long now in this zone…but also the greece crisis is always behind the corner (the stupid politicians, as usual, fixed NOTHING in that situation,in reality..).  E/NZD already gone below my expectation and  also other EU pairs could follow.

The target fo…[Read more]

Smallcat,

Here is my Std. Currency strength (Spaghetti).

Blue – EUR

Green = USD

Yellow = JPY

vertical lines mark opposite direction of 2 currencies against the third one – denoting massive move.

In those situations you can short the EUR against any other currency, almost blindly with almost 0 or minimal DD.

G.

Smallcat,

Here is my Std. Currency strength (Spaghetti).

Blue – EUR

Green = USD

Yellow = JPY

vertical lines mark opposite direction of 2 currencies against the third one – denoting massive move.

G.

Smallcat,

Here is my Std. Currency strength (Spaghetti).

Blue – EUR

Green = USD

Yellow = JPY

vertical lines mark opposite direction of 2 currencies against the third one – denoting massive move.

No, I meant what I wrote….

Two of them in one direction and the third one in opposite direction.

Example:

If USD & JPY going UP and EUR going DOWN – a lot of pips await for you in:

EURUSD – Short

EURJPY – Short

G.

No, I meant what I wrote….

Two of them in one direction and the third one in opposite direction.

If USD & JPY going UP and EUR going DOWN – a lot of pips await for you in:

EURUSD – Short

EURJPY – Short

G.

Use “Market share” as a factor.

Example (factors from your attached table):

USD = USD*0.435

EUR = EUR*0.165

JPY = JPY*0.115

…..

….

Yet another “trick of the trade”:

Pay VERY close attention to USD, EUR, JPY when two of them are in one direction and the other in opposite. This is going to be a MAJOR move !!

Why? Because it’s 70% of…[Read more]

1. Market Share: You can find “market share” here (look for table titled “Most traded currencies by value”): http://en.wikipedia.org/wiki/Foreign_exchange_market

Note that you have to divide the number by 2, since it totals 200%.

2. Momentum: I keep track with my “standard” Currencies indie AND “momentum” calculated one. The first is a simple…[Read more]

Currency Strength is one of the most important indicators in trading.

It has a “predictive” nature if combined with momentum and volume.

A common mistake in creatring such indie is to calculate ALL 28 currency pairs. This add “noise” to the indie end result.

Example: EURUSD & GBPUSD reflects the accurate price of EURGBP synthetic pair, so why…[Read more]