Metal_Mind, one of the most active Community members, on his trading strategy and US Dollar outlook

My trading strategy revolves behind the idea of price action. I study price action and trade accordingly taking into consideration all the developments in the market. I use both technical and fundamental analysis. I use technical analysis, which helps me find the best set ups and discover trading opportunities, and also take a very close attention to fundamentals in order to have a very clear picture of were the price action is heading and which are the forces driving it. My strategy is simple and flexible but money management play a big role in my trading decisions. Finding best trades in terms of risk/reward ratio and reducing trading costs are also key elements of my strategy.

There are three pairs that caught my attention lately in terms of predictability and these are EUR/GBP, CAD/CHF and USD/CHF. In all three pairs we will find nice clean trends. In terms of volatility I see the Japanese Yen crosses as a definite leader.

What performance do you expect from the US Dollar versus its major counterparts in the short and longer term?

I expect the Euro and the Pound to gain ground in the period to come against the U.S. Dollar, while the Yen and Swiss Franc, from my point of view, would lose some of steam they had until now. The SNB is ready for an intervention, which will surely boost the Dollar. Also, the Yen may lose value as the BOJ might add more stimulus as the government embarks on the first sales tax rise in 17 years. My bias is neutral for the greenback.

In terms piece of advice, there would be many to give, but I will try to resume to the most important the market taught me. The forex market is complex and you as a beginner have all the odds against you .To start trading without having a full trading plan covering all things that could go wrong with a trade and how you may approach to each situation is called suicide trading. Be prepared for anything that could go against you. Have back up in case your computer broke, in case your internet falls or the trading platform freezes. Losing because of a trading decision is part of the game, but losing as a result of technical issues is unacceptable.