My Forex Pair Analysis Sheet—Free Download
09/10/2010 12:01 am EST
I have received a number of requests for my currency checklist Excel spreadsheet, which I fill out every morning before I trade (admittedly, some of it is linked to real-time feeds and is automatically filled out), so here it is!
This is the same currency pair checklist shown in chapter eight of my book, Day Trading and Swing Trading the Currency Market.
This purpose of this checklist is to get a feel for the market and to identify trades. It should list all of the currency pairs that are offered for trading in the left column, followed by three columns for the current, high, and low prices, and then a series of triggers laid out as a row on the right-hand side.
Newer traders probably want to start off by following only the four major currency pairs, which are the EUR/USD, USD/JPY, USD/CHF, and GBP/USD, and then gradually add in the crosses. Although the checklist that I have created is fairly detailed, I find that it is a very useful daily exercise and should take no more than 20 minutes to complete once the appropriate indicators are saved on the charts.
The purpose of this checklist is to get a clear visual of which currencies are trending and which are range-trading. Comprehending the big picture is the first step to trading successfully.By Kathy Lien, currency analyst, KathyLien.com