Forex Roadmap

Do you have a roadmap?

Over time it is easy to lose your way. You may forget the current trading ranges of some currencies. You may forget long term position viewpoints that you had previously determined. Frankly, things get hectic at times, and you don't always have the luxury of spending all day reminding yourself about previous conclusions. Some pointers can be very helpful.

Here's an abbreviated version of mine:

Pair	Int	Type	Hist	Strategy Notes
GBPJPY	030	(L)	High	Trade -- expect GBP up long term
AUDJPY	020	(L)	Mid	Trade -- overloaded, reduce risk if possible
GBPCHF	017	(L)	Low	Acquire -- expect GBP up long term
EURJPY	016	(L)	Mid	Trade -- expect EUR down long term
GBPUSD	016	(L)	Low	Trade -- buy on 1 day lower bollinger hits
AUDUSD	013	(L)	High	Trade -- expect USD up long term
CADJPY	009	(L)	Low	Acquire -- expect CAD up long term
EURUSD	006	(L)	High	Trade -- expect USD up long term
EURCHF	006	(L)	Mid	Trade -- expect EUR down long term
USDJPY	005	(L)	Low	Acquire -- expect USD up long term

Pair	Int	Type	Hist	Strategy Notes
EURTRY	062	(S)	High	Acquire -- sell on large spikes
EURAUD	015	(S)	High	Acquire -- sell on 1 day upper bollinger hits
EURGBP	006	(S)	High	Wait -- consistent uptrend for over a year

Here is what it means:

• Which currency pair am I talking about.
• Carry trade interest ranking.
• Long or short positions.
• Position relative to prior year.
• Things to keep in mind while trading.

Notes:

• I'm a carry trader. I like to find buying opportunities in currency pairs that pay positive interest.
• Interest rates change. Don't assume this roadmap will remain static for any length of time.
• Your opinion may conflict with my strategy notes. That is fine.
Remember, opportunities will come to you from time to time as long as you don't overtrade.

Finally, I think it is worth mentioning that even when my strategy is to acquire positions, this does not mean I will simply continue to buy. It means that if I can put a protective in-profit stop loss above a position it is okay to acquire another when an opportunity presents itself. Strategy notes simply aid in decision making they don't replace rational trading tactics.