TLT Trender Currency Signals

Here's a chart of the current currency trends for some of the currency pairs I follow. The trend direction is determined by my own trend following system...thought you might find it interesting.This chart is part of a spreadsheet that I update on a weekly basis. Going through the motions of keeping a checklist of the different trends of the various currency pairs helps me stay tuned in to the flow of the currency market. I highly recommend that all traders keep some sort of daily, weekly, or even monthly checklist that is adapted to their trading strategy and update it on regular basis. Since my trading strategy is based on trend following, it makes sense to come up with ways to determine the trend and monitor the trends on several time frames.

On a different note, I spent some time today updating my trading plan. It's one of those activities that is almost never fun to do but it is very necessary if you want to be and, more importantly, stay profitable. I will probably share some bits and pieces of the trading plan in the next day or two so be on the lookout.

If you don't have your own checklist system, trading plan or both, Mastering the Trade by John Carter is an excellent resource and it's one of the better books that can help you get started in both of those areas. In fact, it is a very well written and informative book that I would recommend to anyone that has at least a little knowledge about trading and is looking to learn more.

Good luck out there.

TLT