Majors SSI London/NewYork
Today's signals include: LONG - AUD/USD with a 63 pip stop loss and take profit. LONG - EUR/USD with a 67 pip stop loss and take profit. LONG - GBP/USD with a 115 pip stop loss and take profit. LONG - NZD/USD with a 61 pip stop loss and take profit. SHORT - USD/CAD with a 50 pip stop loss and take profit. SHORT - USD/CHF with a 44 pip stop loss and take profit. NO TRADE - USD/JPY This specific signal setup comes with many different trades based on sentiment data found from fxssi.com and oanda.com. We are looking to trade in the opposite direction of the global retail trading bias each day before the London open. The plan is to hold these trades for 9 - 12 hours when we will close them between 10:00 am and 12:00 pm Eastern time. This will give our trades to experience solid volatility as they will run through the entire London session and the peak hours of the New York session. This we will be our plan “A” in regards to risk management. Plan “B” will be to close our trades at their take profit or stop loss which will be set to the average daily range for each pair. The average daily range for each pair that we will trade is as follows according to https://www.mataf.net/en/forex/tools/volatility over a 50 week period: AUD/USD: 63 EUR/USD: 67 GBP/USD: 115 NZD/USD: 61 USD/CAD: 50 USD/CHF: 44 USD/JPY: 58 Again, this will be plan “B” for each trade setup. So if any one of these trades does really well and it hits its take profit then we are done before the market gets to the window of time where we plan to close our trades. If we lose a significant amount of money sufficient to hit our stop loss then that will be our exit instead of the time slot mentioned above. Due to the large quantity of trades we are taking it’s very difficult to detail every single stop loss, take profit and entry for each trade. To successfully take these trades each day you will have two options. 1. Take each individual trade listed in the thumbnail and copy down every stop loss, take profit and entry. This would be very time consuming but it is an option. 2. You can take each trade in the direction of the signal and use the average daily range that I calculated above as your take profit and stop loss in regards to pips. This is the easier way to take each trade. It may not be exactly how I took the trade pip for pip but it will be really close and less time consuming. The last thing I need to share with everyone is how the pips will be recorded the following day. You will notice that some days I will take more trades and some days fewer. I have created and developed a very successful system that requires some days to have an increased lot size and other days with a smaller lot size. Naturally some days we will make or lose more because of larger lot size and other days we will have a smaller lot size and the amount of money made or lost will be less. I have thought for a while on how I can make this reflect as a result on the signals page. Because we only record pips made or lost on the signals page I need to take more trades instead of bigger lot size in order to adequately record the successes of the program. I need to mention this because it can be really confusing to some why I am going to take more trades rather than just a bigger lot size. I’ve had some people in the past accuse me of inflated the signals page because I take more trades per signal setup. However remember this is the only way for me to demonstrate the risks taken by increasing the lot size. It also works as a double edged sword. Some days I might increase the lot size and we may lose and I’ll have to record that. Please let me know if you have more questions. Thanks!