USD/AUD , I think this is the best currency idea right now ...
I am strongly considering getting into forex , and I think this is the best idea rn , with USD/EUR as a close second . I am not trading it , but rather tracking it and recording it with the intent of building a contrarian/COT defined forex/futures trading strat .
The reason is that COT data agrees with this and also because I have had quite a few friends , not active traders , send me vids about BRICS and the end of the US dollar dominance .Biggest problem with a BRICS currency though, followed by many more ,is it doesn't EXIST. Personally, as a contrarian, I think USD will be just fine. Even if its not , the chart would tell us and risk management would do its job . So, that and the current COT data on USD makes it a good option to scout for opportunities to pair it with .
I am going to just keep an eye on what would have happened and maybe work at developing a contrarian currency strat in the future to dip my toes eventually, but lets see how this one works out . Personally between USD/AUD, and USD/EUR , those seem like the only ones I would bet on since we have extremes in positioning and good risk reward entries . Not to mention a bit of doom and gloom in news per USD.
I am not in a rush with this idea but as I see opportunities based on this idea I am going to post them as a sort of basic backtest and after approx 10 have been theorized I will look at that to conclude the next step and so on ....
The reason is that COT data agrees with this and also because I have had quite a few friends , not active traders , send me vids about BRICS and the end of the US dollar dominance .Biggest problem with a BRICS currency though, followed by many more ,is it doesn't EXIST. Personally, as a contrarian, I think USD will be just fine. Even if its not , the chart would tell us and risk management would do its job . So, that and the current COT data on USD makes it a good option to scout for opportunities to pair it with .
I am going to just keep an eye on what would have happened and maybe work at developing a contrarian currency strat in the future to dip my toes eventually, but lets see how this one works out . Personally between USD/AUD, and USD/EUR , those seem like the only ones I would bet on since we have extremes in positioning and good risk reward entries . Not to mention a bit of doom and gloom in news per USD.
I am not in a rush with this idea but as I see opportunities based on this idea I am going to post them as a sort of basic backtest and after approx 10 have been theorized I will look at that to conclude the next step and so on ....
Comment:
This is Idea one of a personal research series looking into a potential COT strat .
艾力克~
