Your community for Forex News, Training, and Strategies. /r/Forex is for traders serious about sharpening their skills for consistent profitability in the market. Feel free to discuss trade setups, fundamentals, technicals, or other trading topics which might help promote a better edge for your every trade.
Hey guys, I would like to create a checklist for each currency to determine wether a currency will appreciate/depreciate for the next year (at least). So, the question is: what are the main (fundamental) factors that create strong trends in the fx market in the long term?
Does anyone here trade forex long-term? Do you have tips, suggestions, good books/blogs to read?
So after being swamped with suggestions, theories, questions and strategies (mostly through DM's which is fine) i thought id do 1 more round of this.
If you got a strategy you wanna see backtested, let me know. To get the most data i suggest using 1h or higher timeframes on the strategies, can usually give 10-20 years of data on those timeframes. Daily can go back to the 1970's for S&P futures or 1980 or so on EUR/USD. On 1-10 minute/seconds timeframes i can deliver some data but not alot at all, about 6 months or so for 1-10 minutes.. There has been alot of 1 minute strategies thats been sent to me and its usually just not enough data to say wether it works or not, unless its something that does alot of trades during 1 day.
15 minutes+ timeframe will give many years worth of backtest.
i cannot compare 1 pair against another in the backtest. Needs to be a strategy that uses 1 chart only. (so i cant mix the VIX into a S&P strategy for example. but there are different ways to simulate the VIX within the S&P chart). And i cant compare the EUR/USD to the USD/JPY for example.
Will backtest any strategy really, its just for fun so if u got something u think might work, or that has worked for u, or if ur just unsure wether it might work or not, just hit me up and ill check it for u and reply with photos and stats like winrate% so on. Ive gotten alot of "newbie strats" that gets shut down pretty fast and the response has been all positive so far. People like seeing their "foolproof" plan go to shits, so they dont waste money trading a strategy that just hasnt worked the past 10-20 years.
Can do most futures markets, most pairs, commodities and most of the US stocks. (stocks are daily timeframe only, if not thers very little data).
Not sure if you guys have seen or used the "Market Trends App" on the app store or on google play, but im gonna be trading on a small account to see if trading against the market recommendations that it give actually works.
If this app does follow the "trends" then im going to do the complete opposite and see if im profitable over the month
Will be using Oanda to trade and will hold trades for a day or until i hit 100x the investment lot.
Example: Lot size $0.01 = Out at minimum $1.00
i will only be trading penny lots for testing purposes.
I have about $150 on the account so i dont care if i lose it or not. I just want to test,
The way i see it, its a win win. If for a month i test and I win over 90% of trades, i know the app is bogus BUT now i know that trading the complete opposite will work.
Does anyone have any experience with FXCM? Especially if you are a UK resident... any problems with withdrawls/deposits? Been trading for 2 years almost and thought it was time to move brokers and found FXCM