The ForexGrail - AccuStrength Currency Strength Meter



The ForexGrail - AccuStrength Currency Strength Meter
Written by: Thomas Yeomans
A simple yet powerful Forex Trading Method designed for currency strength charts.
The ForexGrail
Table of contents:
• Chapter 1
The Single Currency Viewer
• Chapter 2
Introduction to the AccuStrength
• Chapter 3
The ForexGrail Trading System
• Chapter 4
Don’t play with scared money
• Chapter 5
The heart of the system is you
• Chapter 6
Basics First
• Chapter 7
Frequently Asked Questions
• Terms
Thomas Yeomans. Copyrighted 20135 work. All rights reserved. You must have permission from the author to reproduce in whole or
part. Different formats and displays use page numbers differently so I have decided not to put the page numbers next to chapters.
“Forex trading is as simple as buying one currency going up in price and using another
currency that you expect will be going down in price at the same time. When you think
you have made enough money from the difference, the process reverses.”
The ForexGrail
Chapter 1
The Single Currency Viewer
Have you ever taken the time to really understand how a forex pair price chart
works? There are 54 commonly traded forex pairs that currency traders need to keep
their eyes on. These pairs consist of ten individual currencies in various combinations.
EURO dollar
United States Dollar
Canadian dollar
Great British Pound
New Zealand dollar
Australian dollar
Japanese Yen
Swiss Franc
Hong Kong Dollar
Mexican peso
All Forex price charts we see in use today measure 2 currencies in a way that
displays the spread, or difference over time between them. The standard price chart
does not display the price of an individual currency.
The single currency viewer measures the changes among all the forex pairs and
arrives at an individual strength value based on the spread of the spreads. Wow eh? So
in effect price is nothing more than a way to measure the changes for both a normal pair
chart and a single currency viewer.
The ForexGrail
Above is a picture of one week strength for an individual currency. You can see
the regularity throughout all the currencies. (Picture Courtesy
Due to the nature of the currency strength display, Individual currencies exhibit a
more consistent pattern than traditional pair charts. We see repeating patterns all the
time with a strength viewer that are consistent enough for making trades. When you
confirm a trade suggestion from any popular system using the strength chart, you have
double the confidence
For example, when we see the strength line of a currency reach towards the 8
area, we know the currency will be just about exhausted. The activity will soon dry up.
The energy and interest it took to get there is almost over so it shows a great spot to get
out of a trade and wait for the bounce back down. At the very least, the currency is not a
good choice for buying at this time. Wait for the bounce back down.
The ForexGrail
Single currency viewer programs have several outstanding benefits to a
currency trader.
The ForexGrail Method I describe in this book uses 2 moving averages applied
to a standard price chart with a line type chart display. You are given clear directions
on when to enter and exit. In combination with the single currency viewer, these 2
slow moving averages (SMA) of the price action will give you an uncanny win/loss
Don’t be fooled by its simplicity. The secret to making this easy trading system
work is the single currency viewer. The idea is to confirm trades based on the underlying
strength trends that currencies naturally follow.
I do not use candles, bars, or fancy technical indicators. Just 2 SMA’s and a price
line. (No bars or Candles)
The ForexGrail methodology shows you how to adjust the value of the signal for less risk
as you gain experience, adjusting the parameters to match the expertise of the trader.
The difference between a professional and a beginner is in the amount of trades each
can properly identify and trade with.
The ForexGrail
It is important to know the difference between a pair price chart and a currency strength
viewer. A single currency viewer displays the currency in a sine wave pattern. Prices do
not play a role in how strength or weakness is determined. It is the rates of change in
prices among all pairs that is displayed.
The angle of the currency line from neutral shows us the interest level for that particular
currency. When it has become the focus of the others and traders are making
transactions with it at a level beyond the others, the chart will display an upward trend
at an angle reflective of the activity or interest in that currency.
The ForexGrail
Single Currency Viewers
The Accustrength software measures everything that comes in via the data feed and
churns it into recognizable format. The AccuStrength has a self-contained source of data
while the older but still unequaled, 2.44 also uses the MT4 data feed.
Most of the other so called currency strength meters are nothing much more than RSI
technical indicators. Some make an attempt to measure real strength or weakness but
in order to have a tool you can trust, spend the dollar. It’s a business expense.
The ForexGrail
If we take the US dollar as an example, the data for the pairs containing the US dollar is
measured by setting a place mark. For example, I want to know the position of the dollar
against its peers. I will pretend I am doing this by hand on a sheet of paper.
Let’s isolate a chunk of time and stop everything for a few seconds. Freeze the market so
to speak. I will use an eight major currency example.
I note the exact price of the EURUSD.
Then I note the price of the USDCAD.
And I go through all the pairs I can find containing the USD. For the simple arrangement
we will need at least seven charts for the US dollar
Let us put an X on the spot where they are frozen in time. Once the time comes back on,
the EURUSD and all the others begin to change. We measure these changes by
comparing the original spot we marked when time stood still with the new spot after X
seconds and note the prices.
If the math works out that one currency pair with the USD has risen while another pair
has dropped in price, we continue to look at the other combinations with the USD in it
and how they have moved. It is simple math performed at incredible speeds.
The ForexGrail
Should we decide to look at the JPY, another seven charts have to be pulled up.
Humans are not capable of doing this but computers are.
Five seconds is a good refresh rate meaning the calculations made on the differences in
prices are displayed every five seconds?
The important thing to remember is that our individual currency viewer is measuring
the rates of changes taking place among the various forex pairs. It does not show
prices or a couple of price changes. It measures them all at once.
Price is only relevant in that it exists to provide a marker. A place to begin and end
measurements. If this rise in price does not reflect all the other pairs containing the
single currency we are interested in, then it’s nulled.
The ForexGrail
Here is where the beauty of the strength formula comes in.
I say to the big number cruncher. "Hey, forget about that blip. It's isolated to a pair so it
doesn't count in the measurement.' The other pairs didn't reflect it so leave it and
continue measuring.”
The idea is to toss out irrelevant data in order to improve the measurement that ends up
on the display. So, in effect the software measures the variance of movement among
pairs containing the currency we are interested in as well as the activity level. Add to
that, the software then “weighs” the currencies according to their importance. The USD
and EUR are larger and more market moving than the CAD or Aussie dollar.
This gives us a smoother currency strength line display without spikes. The big erratic
jumps are contained in the strength chart while a regular price chart would show them.
If all the pairs containing our currency are affected, then it will get plotted accordingly.
The currency strength chart is not a price chart so a big movement in one forex pair will
not be displayed. All the pairs containing the currency must reflect that spike in order to
produce a reaction on the strength chart. This allows us to clearly see what currency is
having the most impact on the market.
The single currency viewer software displays activity levels of individual currencies. Its
dual nature allows me to see a line going upwards on the currency strength chart that is
reflecting price changes in a positive direction as well as the interest in that currency
among the others from the angle of its’ climb or descent.
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The ForexGrail
Forex prices only change when there is activity. They don't change on a timed basis like
every second or minute. That would be too perfect. There can be hundreds and even
thousands of changes taking place within a few seconds so it has to pick through X
amount, analyze it, and rate its relevance to an individual.
A.. Price changes among all the recorded pairs for a single currency in a positive
B.. Price changes among all the pairs for a single currency in a negative direction
Here is where things separate with a specific software program such as mine, compared
to a little add on coded droplets and online charts that are really RSI programs. Relative
strength meters and charts that you see around for free work much different than an
individual currency viewer. That is why they are free.
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The ForexGrail
Chapter 2
Introduction to the AccuStrength
I developed the ForexGrail Method in combination with a crude spreadsheet
several years ago while teaching new traders how trends work. It was all I needed when
it was combined with the readings from a single currency viewer. The chart made it all
come together. The method is simple for beginners, yet sophisticated enough for
traders who use nothing but the strength chart and a pair chart. We all know there is no
such thing as the forex holy grail but the people I taught at the time first coined the
words and it stuck. Over the last nine years, there have been some incredible changes to
my original sheet program, but the essence of the ForexGrail system stayed true.
Here it is…
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The ForexGrail
2 simple moving averages applied over a price line. All forex pair charts have the
ability to overlay SMA’s. One is a fifty and the other is a seven. These are good values to
use to start out.
A currency strength chart. Single Currency Chart
I suggest using the AccuStrength since having a strength/weakness chart for each
of the world currencies is essential.
The tick charts need people graphing by hand and pencil to work. Don’t be cheap. This business
requires and investment of tools and education so be prepared to pay or hold off trading until you are in a
position to take expenses and the occasional loss without whimpering.
There are two time frames that I use. The 1 hour and the 5 minute forex pair
chart. They both use the 50 SMA crossing price lines for entry, but you can choose
between a 5 or7 SMA for exits on either time chart. You must use a price line and not a
bar or candle. The system uses the SMA crossing with the Price line as its signal points.
It is too hard to do using bars or candles. The four hour timeframe trader should be
using less than 20 to 1 leverage.
Example of one of the older spreadsheet or tick meter types from 2006/8
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The ForexGrail
Here is a properly set up forex price chart with the 50 and the 7 SMA displayed
with a price line. (Not candle or bar)
Many clients ask me why I don’t make a program to auto trade the ForexGrail system. Simply put:
They don’t work. In nine years I have never seen an exception. A marvelous program that lets you sit by
the pool auto trading does not exist or at least, never lasts. I have never seen a single auto system that
worked for more than a short time. They all end up ruining some poor buggers dream as soon as they shift
from perfect filling demo mode. (And the marketer runs off into the sunset.)
Use your common sense, not magic!
Learn how this business works and you are light years ahead of the dreamers
who look for auto traders and magic. The secret to trading professionally is not relying
on some gizmo to think for you. If profits and success were that easy our financial
system would collapse. Get serious. You are going to be trading against some of the
smartest, ruthless traders and brokers in the world. Your broker hires the best talent
money can buy. These guys and gals are paid a humongous amount of money to take
you out.
This book will outline a simple to learn trading system that will put you on the
winning end of trades almost instantly when it is combined with the information you
get from seeing individual currency strengths.
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The ForexGrail
You absolutely must follow the signals exactly as they are explained but more
importantly, you have to use common sense. Do not blindly make trades. Think about it
first. Make sure all the ducks are lined up and it doesn’t matter if it takes you days or
Do not trade until you absolutely feel you have a great chance of winning
combined with clear exit points and a target to hit. If your finger is shaky on the mouse
before clicking the buy/sell, then you are not ready! Stop! If you don’t feel the trade is
likely to go in your favour, stop and wait. You are not ready yet.
Keep your eyes on the news and events that may affect the trade you are in or
the trade you are considering. I have a great personal forex bookmarks page with many
of the top sites I keep track of. The link is here:
Learn as much as you can about economics and read world news constantly to
keep up with what the big timers are talking about. This is a profession where research
and constant education is required. Make it a habit to keep abreast of developing news
events. You should subscribe to a decent news service or use the news that is provided
on your broker platform. These news sources are delayed slightly but it isn’t a big deal
unless you have a trade on during an important news release. I do not suggest that you
do that. The time before and after an important news release is very dangerous to
leveraged people. Your stop and a lot more can be taken out in the blink of an eye. I like
to trade binary options during news events if I see an opportunity. Binary options allows
me to have set risk and rewards. I can’t lose my shirt but I can sure make a few bucks
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The ForexGrail
My advice to leveraged forex traders is to stay out the market when important releases
are coming out. This is between 8 and 11 am New York time. Look it up in the calendars link
As many of the destroyed traders out there will tell you: “BROKERS ARE NOT
STUPID!” Wait out the craziness prior, during, and after a big economic report.
Thousands of people have been misled into thinking they can buy the holy grail of easy
living through the internet. There is no magic. Anyone cannot do it. Products that
predict the markets are nothing more than crystal balls.
We are on our own to make intelligent choices. If I could implore the beginners
to do anything, it would be to start out with decent system that will let you follow the
trends. Next, build a knowledge base on how and why currencies move. Study their
individual behavior. Learn how commodities, events, and even weather can shape an
individual currencies direction. Keep your leverage low at first. Use a broker that will
allow you to flex your trade.
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The ForexGrail
Chapter 3
The ForexGrail Trading System
Trading Forex, your objective is to purchase a currency that will be going up in
price and pay for it with one that is expected to go down in price.
You are routinely given a price chart to track the progress of your selected pair. When you trade
the EURUSD, the chart shows you how one currency (EUR) is doing against another (USD). Each currency
contained in your chosen pair interacts with at least seven other major world currencies.
A currency strength chart is a tool that will show you the results of these
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The ForexGrail
“A currency strength chart tells you which currencies to use while a trading system
tells you when.”
A currency strength chart, allows a trader to see individual currencies. It tracks
the “behavior” of one currency among dozens of selections. The math behind this
concept is simple enough. Day traders have been measuring strength for decades but
the introduction of fast intraday time periods made the work too hard. Every had to be
sped up so using a software program to measure and record the interactions of dozens
of pairs is the only way to go.
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The ForexGrail
Integrating bounces and crosses on the currency strength chart to your trading
For the purpose of this discussion, bounces and crosses shown on the currency
strength chart will occur several times a day on all currencies and just about all pairs.
The knowledge of a threshold being crossed should be considered a time of caution. No
matter what you system is telling you, these areas should be approached with caution.
A bounce occurs when a currency hits a certain number on the strength chart. If
it has shown a tendency to keep coming back to this number in the past as measured in
a support and resistance like way, chances are high that it will bounce off that number
and go in the other direction.
Just knowing that a particular area is coming up is not a system by itself but an
important part of your decision making. It says “Be careful around here.”
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The ForexGrail
Three strength patterns are shown above. The upper bounce area is often the
level 8 but I like to be cautious when the strength hits a 7. The lower bounce area is the
strength level 2. There is no telling whether the currency will sink lower or not but the 2
is a level where I would take off any sells that I have and get out to wait for it to bounce
up again. Following the idea that all currencies show a sine wave pattern all the time on
the strength chart, when the currencies I am watching get to a 2 or an 8, I know to take
care since the chances are quite high that it will turn around.
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The ForexGrail
Get the thought out of your mind that this is a hard and fast rule. We know for
certain that currency strengths will always follow the sine wave pattern but where they
bounce and from what extreme depends on what is going on in the news and events of
the day.
Always check the economic event calendar before making a trade.
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The ForexGrail
The strength chart and be broken up into certain areas of interest.
Bounce areas are around the eight and the two. The angle at which the line is
rising or declining is very important. It tells us the interest shown in this currency. When
there is a lot of bidding for a particular currency, the strength chart reflects it in the
angle of drop or rise.
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The ForexGrail
The picture above shows a typical strength line where activity drops fast. This
lack of strength occurs when the currency is not of interest to traders anymore and they
begin to focus on moving the price up of another currency.
The pair breaker produces a line like the one above during quiet moments in the
market. Each line represents a currency and the activity exerted on each shows a
different result. The long straight lines mean that there have been no bids for several
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The ForexGrail
time samples. Where we see activity, the changes performed on the pairs associated
with the currency show humps and spikes according to what is happening.
If you get a signal to buy on your trading system, and the strength of either
currency in the pair is going to hit a bounce or coming into a cross area, just put the
trade off until you see what occurs after. These point out caution areas.
The currency cross is something you have to experiment with to find your level. I
suggest at this time just using the bounce areas for indications that a currency has
exhausted itself and will more than likely bounce from that spot so look at the trades
you have on and act accordingly.
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The ForexGrail
Crosses are not a part of this system but are often used in combination with
many traditional MACD and Candle type systems.
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The ForexGrail
Chapter 4
Basics of Strength Charts:
All currency strengths oscillate. They move up through a center point on the
graph and then down again. Currencies observed on their own follow a sine wave
pattern. They do it constantly.
Strength follows a regular rhythm and can keep this pattern for hours and days
through all time frames. This is great for trend system traders. Get used to thinking in
terms of an individual currency.
If an individual currency goes weak, it will go strong again. If it gets very strong, it will
also drop back down to weakness at some point.
The sine wave is king when it comes to currency strengths. This is not like a price chart
where the price may never return. A currency strength chart is marked from 1 to 9.
When the strength goes down on a currency strength chart, it will always come back up.
The price is irrelevant. It’s the rates of price changes among all the pairs and not the
actual prices that matter.
Currency strength will always follow the sine wave pattern because of the way it is
valued against another currency. Since all currencies on the strength chart follow a
rhythm, you can easily predict the highs and lows of the single currency and then apply
that knowledge to a price chart with a trading system.
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The ForexGrail
Look at each currency on their own before considering any trades.
Choose a currency moving upwards and one moving down. You are only aiming for a
few strength points in a trade. Should you decide to enter around the 6, then hang on
until 7 or 8 and it should give you plenty of profit?
If the currency has hit the 8 area or 2 area then consider waiting for a bounce to catch
the currency in the opposite direction.
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The ForexGrail
Take a look backwards on the individuals chart. I apply a support and resistance like
marking line on areas that hold a good chance of bouncing. Begin at a high time frame
and work your way down noting the place you put the bounce lines.
With a little practice and using the neat sticky line creator on AccuStrength, you can
keep the lines throughout a wide variety of configurations and comparisons. The same
can be done with FX4Caster in a limited way using the slider controls.
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Crosses are areas you need to be aware of and prepare for. Just like a bounce area, the
cross between two or more currencies is an area that one of two things occurs at. It
bounces, or runs right through with vigor and you could get caught in a trap or an
Chapter 5
Introduction to the ForexGrail trading system using the Currency
Strength Chart.
The AccuStrength currency strength chart is a new way of seeing what the major
8 currencies are doing. The image above shows the US dollar and the Aussie dollar
strengths being compared.
When things are boiled down to essentials, as currency traders, our mission is to
make money trading the difference in strength between 2 currencies contrived as a
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pair. The Currency strength chart will show you which currencies are trending over
Setting time periods.
I prefer to use the two and four hour time period span for the strength chart and
the timing is best for me when it is set at five seconds. Having a faster sample rate is
good for doing sixty second trades in binary options but in forex intraday, I suggest
keeping it at five seconds or more to smooth things out.
Knowing an Individuals strength is everything when trading foreign exchange.
The value of a currency has to be looked at in comparison to how it has been performing
against other world currencies. As foreign exchange traders, we usually watch a chart
showing the difference in value of two. The difference in price between the two
currencies is a spread. Only Forex uses spread charts. They are not the same as a stock
or commodities chart. That’s why technical analysis doesn’t work very well in Forex.
Most of it was designed for other day trading markets.
In order to trade the Forex market correctly, determining the strength of an individual
on its own is vital.
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The ForexGrail
If you think in terms of strength and weakness, and apply it to an individual currency,
you are thinking like a bank trader. When foreign exchange trading opened the door for
the retail investor less than ten years ago, people began jumping into the high leveraged
community automatically assuming that technical analysis would convert as well. On
the surface you would think so. Traders from other markets look at one instrument fixed
to the US dollar. Forex charts look at two completely different entities.
All through the trading day currencies are changing in value as perception, news,
politics, and economics play out in their respective countries. One currency may be
going up in value due to a piece of great economic news, while another is losing its value
from a political scandal. The interplay between two currencies is what we are seeing
when looking at a forex price chart. Standard Forex charts track the changes made by
two individual currencies.
For example:
A EURUSD chart shows the value of the US dollar against the Euro. If the line goes up, is
the euro really gaining strength or is it reflecting weakness of the US dollar? We don’t
know until we can see several other pair charts containing the EURO and the US dollar
and note their weakness or strength in that pair combination.
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The use of two moving averages without the currency strength chart, is an
average trading method at best. You observe the strength trends and use them to insure
that they are following price action. This confirmation of individual currency strength
turns an otherwise normal system of entries and exits into a profitable system. It gives
us an edge to make it a great system.
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The ForexGrail
Your trading decision should have 3 parts to it.
1. Pick a pair of currencies that are moving toward strength or weakness using the
currency strength chart. Make it a habit to look at each currency on its own and
make notes about each individual before you jump into a trade.
You want to find a currency on its way up and match it with a currency on its way
down. (Don’t pick the strongest and weakest since they may have most likely
already exhausted themselves.)
The 50 SMA in any time frame is a good reference point. There is no need for
fancy ways of measuring the moving average of price. Exponential and Weighted
bah blah really means nothing more than a Simple Moving Average based on the
close price. SMA’s are a simple way to show you when price is crossing a
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Create a 50 period simple moving average on your broker chart and change
your candles or bars to a line. This is your potential entry spot. You will be
looking for the 50 SMA crossing with the price line. This must be combined with
the correct selection of strong and weak currencies according to the strength
3. Find an entry using a regular Forex pair chart using one that contains the two
currencies you have selected as strong and weak candidates. (If you see that the
Euro dollar has been climbing on the strength chart and the economic news is
pretty good, then you match it with a weak and weakening currency).
Once the 50 crosses price, wait for another six pips to make sure it isn’t just
grabbing a few orders and coming back. Whatever you feel comfortable with is
fine. The market may be slow or fast so adjustments have to be made.
4. Your exit is when the 7 or 5 SMA (simple moving average) crosses the price line.
The faster moving averages allow you to see when the micro trend is over.
Binary Options traders can change the SMA to a smaller 7 and 10
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There are plenty of opportunities for taking a sixty second or minimum time trade.
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Our job, as day traders is to predict the direction of currencies for a few minutes
to an hour. Not days or weeks. Our trading decisions should only be based on what is
most likely to happen for the amount of time are involved in the trade. Your objective
is to win more trades than you lose. This system, with a fairly bright person using it is
capable of very high win ratios. Don’t let the simplicity fool you.
PRICE LINE ONLY. (No candles or bars)
Use the line chart. No bars or candle views. When I talk about a crossing of lines, I am
referring to the price line crossing the moving average line. Not the crossing of moving
averages themselves. Sometimes, coincidentally, all three lines may cross.
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The five minute line chart should give you about two day’s view of the action. This
simple system is about consistency. It doesn’t really matter what time frame of chart
you use as long as you are consistent. Don’t float around. Become familiar with one
timeframe and don’t keep changing. The major difference between the two timeframes
is the amount of leverage you should use. If you are highly leveraged and you use a four
hour time frame, you can’t keep your eye on your account balance. As always I suggest
going with minimal leverage if your account can handle 20 to 1 or less. Watching every
tick on a highly leveraged trade will drive you crazy and the need to drill down to a
smaller time chart can’t be stopped. The less leverage you use, the better. Those who
are using hundreds to one leverage can’t afford to use four hour charts unless they have
nerves of steel and a huge trading account balance.
50 SMA (Simple moving average on close price)
All charts will have the ability to place a line called a “simple moving average”. Later you
may want to fine tune with other settings but for now, use the simple close price line
and color it blue.
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7 SMA (Simple moving average on close price)
The simple moving average smoothed out the price history line so we can see the
average prices during whatever period you select. I like 7 and 5 depending on the time
period and market action.
Various currency setups happen several times a day on an assortment of pairs. Not all crossings
of the two SMA’s have potential or have the currency strength chart parameters. You must have
confirmed strength meter readings to go with this simple entry system of 2 moving averages.
For example: If you see that the CHF and EUR are moving away from each other
on the strength chart and they appear to be moving steadily, open the corresponding
currency pair chart from your broker and apply the 50 and 7 SMA to it. Maybe is it not
about to happen so you pick another pair and see if the system conditions match the
strength chart. Not every currency will work every time. You must look for both
conditions to line up before attempting to trade it. This isn’t a race. Take your time and
Just because you happen to be ready to trade doesn’t mean the market will whip
something up for you. It usually takes time to see a few potential setups taking place.
Start your session looking for currencies getting stronger and weaker:
Find a few potential strong and weak candidates. Keep your eye on them for an
hour or so. You will begin to feel the various trends developing. Don’t stare at charts.
Just keep the strength charts going while you go about your business. When the
conditions show themselves you will be ready. Some days the setups are seen more
often than others.
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For people considering fast trades using Binary Options, the same rules apply
except that you would change the 50 and 7 SMA to a 10 and 7. You need to find the seet
spot for the amount of time you are in the trade
Most mornings I usually see two or three. Evenings here in North America I can
expect at least one good setup. You must get used to observing all the various pairs for
this to work. Do not just wait to see if one or two of your favorites will work. You can’t
have favorites in this business. It is important you select the correct pair of currencies
for the trade. Some time periods result in more profit than others.
What moves the Forex market?
We are in the world’s most competitive environment. The foreign exchange has
the best people in the world trading against us most of the time. I will assume that
everybody knows the basic terms in forex, such as pip and currency pairs. If not, you
can refer to your broker’s manual to get the mechanics or definitions. The way I
trade does not encourage using anything but a line and two simple moving averages
combined with the currency meter.
Many people like to place a stop in case the market goes wild. Take a good hard
look at your broker agreement. As you will see, they do not guarantee stops. They
try to get you out.. But there is no assurance other than their claim that they did
their best and couldn’t. So, in effect, a stop order isn’t worth beans when you need
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it the most. Unless you are away from your machine and need something that gives
you some illusion of safety, don’t set your stop too close.
The market moves 15-25 pips routinely. Your exit should be the five or seven
SMA crossing into price, so try to guesstimate how many pips from there you need a
stop order. I suggest 50-100 pips. Professionals with low leverage routinely set 200
pips on intraday trades.
Instead of relying on a set figure for a stop or close out, we use the 7 or the 5
SMA to tell us the trend is most likely over. Of course, during your trade a bit of
economic news may have an effect of the currencies you have in play so In that case,
just take the trade off and wait it out. Don’t make this profession more of a gamble
than it already is. Learn patience and wait till all the ducks line up before jumping
into a trade.
Do not play with scared money!
This means that you should never trade with food money. If you can’t afford to
lose it, don’t risk it. Either go to a demo or get the heck out of a business you obviously
can’t afford to be in. If you have ten thousand dollars or more and you have established
credit, use a proper broker you recognize and trust. Until then stay on demo. Those 400
to 1 accounts blow out small accounts in the first couple of trades. Using a reputable
broker that has been operating for many years and qualified to carry most of the
regulated market instruments, should be your first priority. Trust and reputation will
become very important as you begin making money. Your goal must be to accumulate
enough money to open a “proper” trading account with a regulated and reputable
Two moving averages on a five minute chart will give us potential entry and exit
points. I suggest not messing around with the settings at this point. Don’t try to reinvent
the wheel. They work fine, so leave them alone. The technical part of the system is fine
so leave it up to correctly assessing the currency strength chart.
A five minute line chart should easily display 2 days’ worth of data. That’s usually
enough for day trading. The objective is to trade with your eyes ahead, not backward.
What the chart did prior to you opening a trade has no significance. The past is past. We
are trading the future. The market will show you a variety of patterns in hindsight, but
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base your decision on what it is most likely to do in the minutes ahead. It doesn’t matter
where it has been or where it may be going tomorrow. Look for the trend.
You need consistency to succeed. I do not recommend you become a robot. We
all know those magic systems don’t work. You need to apply common sense and a little
sprinkle of intelligence. If you don’t have that, get out now! The smart people will eat
you alive!
Predicting the future market direction of one world currency is enough of a task.
Two is even harder. Using this simple system, I suggest you go with the flow instead of
fighting it. We only need to know which currency is moving toward or away from a long
term trend. It shouldn’t matter which currencies you trade. Only that you see a clear
trending direction developing over a variety of time charts.
Messing with one indicator after another brings nothing consistent into your day.
You need habits. Good ones of course. When you can take a look at a chart and say to
yourself, “Hmm. I have seen this before. I know what to do.” You will be on your way to
making a living in this exciting industry.
The heart of the ForexGrail system is you.
If it was the system itself, I could automate it and the money would be in leasing
it to banks. A system is only as good as the person or people following it. It is you that
makes this work. Watch the currency meter for a few days in your chosen time period.
Get used to seeing trends develop. Forex is speculative trading of derivatives at high
leverages. The people most likely to use huge leverage are beginners. Tiny movements
are magnified several hundred times. You can lose a thousand dollars in the blink of an
eye trading at 200 to 1.
All trading involves risk. You may lose several trades in a row so you need
enough money to ride it out. No system is capable of 10 out of 10 wins consistently. It is
you who will make any system work.
Let’s get back to the moving averages;
Used on their own, two SMA’s (simple moving averages) on a cross will give you
a certain ratio of winners to losers according to what’s going on in the market. It’s a
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gamble. The essential ingredient in this system is the currency strength chart. We are
watching (with strength confirmation) for the cross of the price line and the SMA.
The ForexGrail system specifies;
50 SMA for finding entry (when the price line crosses). Exit when the 7 or 5
SMA crosses with the price line.
The fifty period simple moving averages tell me the trend for my time period
(intraday). It tells me the way the market is trending. Basically, what I want from the
fifty line is what the average price has been during fifty, five minute sessions. The
trending direction.
Wait until price line has crossed the 50 to enter a position in the same direction
as the trend. If the line is slanted up then a buy is likely. I like to wait for at least 6 pips
above or below just to make sure it’s not a fake out.
Think of the moving average in terms of price, not position.
See it in a different light by observing it without the price line at all. Do this on
your charts. Make your chart all black except for the one 50 period moving average.
Look at the price. You are seeing the actual market direction without noise. Candles,
bars. Indicators, colors, are all noise. Just the ups and downs of trend.
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The reason I use 50 and 7 SMA’s are the same reason I look at the five minute
charts. I’m used to them. They’re comfortable. They’re familiar. This is very important in
working any system. Get comfortable with it. Find some consistency. I have come to
depend on the five minute chart as my way of seeing differences.
Set your pair chart to line mode.
All charts allow you to view price as a line instead of a bar or candle. The forex grail
system requires lines to show price as a line. The crossing of price against the simple
moving average. Not the two moving average lines crossing. By the time the two
moving averages cross, the move is over. Those are lagging indicators so I don’t want
entry or exits based on crossing of the averages. It has to cross with price.
With the currency meter confirming an entry, we get a jump on the other traders
waiting for the cross between the two moving averages. Hashab. You’ll see what I mean
now that I mentioned it.
I don’t use bars or candles. I am only interested in the averages of price. Learn to see the
market in terms of averages. The only way to do that properly is by viewing a line chart.
It filters noise and price peaks you wouldn’t have gotten filled at anyway. It displays at a
glance the true average direction a currency is going.
This picture was taken about 20 minutes after the signal to enter was given by the 50.
The price line is white.
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Although this system is easy to follow, there are going to be lots of demons like emotion
and lack of patience. You must be strong.
Make the determination now, that you will follow the ForexGrail trading system with
the numbers I give you before trying to make changes. Do not make this out to be any
harder than it is.
It doesn’t matter what charts you use. They are all pretty well the same. Five minute
price line with two moving averages on close.
Don’t use bars or candles for this system. They will shake you out of a trade too
early and cause you to make decisions on emotional triggers. When applying the
ForexGrail system, use the price line. Just use a simple line and get used to seeing it.
Keeping you focused on the line and it’s impartially (pointing down or pointing up) will
let you make better trading decisions.
Enter 6 pips after the crossing of the 50 line and price. This makes sure it’s not
just noise. It can still go down a bit once you enter. The 50 is showing direction and the 7
will be marking an exit for you once things get going. The picture below shows my entry
after meter confirmations on the morning I am writing this.
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I have often said that the candle was a conspiracy to keep beginners from seeing
true market action these fancy things just clutter up what I am seeing. (I know it will be
like weaning a heroin addict to get you to toss them, but you must not use candles or
bars for this system to work properly.) Keep this as simple as possible in the beginning.
Make yourself stick to the rules.
Get used to making trades with your platform in demo. Absolutely do not start using
real money until you have proven to yourself that the system works and you have
clearly assessed and discussed the risks involved. Once you get a live trading account
fills may not be as good so if you can’t make money with a demo, then you will not
make money with a live account either.
Chapter 6
Basics first.
We are trading the difference in price between currencies. Charts extract the
difference in price between two separate and quite distinct currencies and then display
the result. The line going up on any forex chart means a rising price for the currency that
has first position in the pair. EURUSD has the line going up to indicate a higher price for
the euro dollar.
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Understanding that we are buying strength or selling weakness of individual
currencies, not pairs, is vital to foreign exchange traders. Come on. Pro’s talk about
individual currencies since they understand each is an entity of its own. There are
countries and economics behind each one. Drill it into your head to think in terms of
individual currencies.
The meter is perfect for reinforcing the idea that each currency has unique
characteristics depending on factors at home and abroad. Strength and weakness is
directly tied to price. Price should reflect absolute strength or weakness.
The US dollar is gaining strength.
This means the line on the EURUSD chart is going down.
The EURO is gaining strength
This means the line is going up on the EURUSD chart.
But… there is a crucial element involved in the ForexGrail trading system. In the
first statement where I said the US dollar is gaining strength when the line goes
down, I could have said that the Euro is losing strength. Both are correct. For all I
know by watching one chart, the US could be weak or it could be strong…or the Euro
is weaker. I don’t even know if either currency is doing anything at all without
looking at other currencies that may be going strong and weak while pulling this pair
When you give currency trading some deep thought, you have to admit that in essence,
the entire market symbolizes strength and weakness. The ForexGrail system
understands what makes currencies work. Ask any banker. The currency market trends.
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Trending among currencies is a characteristic acknowledged by all foreign exchange
experts. All currencies trend at different times.
If you are using a small account with a derivatives only broker, this is your
survival tip of the day: “You must enter the market with a steady trend that the
market maker must eventually follow.”
Make your entry following the trend of the “real” currency market, the same one the
broker must follow or lose clients. The idea behind the ForexGrail system is to get in the
habit of making a trade with the trend, not the wave within the trend. The true trend.
If you follow the rules correctly, there will be times the market seems to be going
against you when in fact, it didn’t. You got caught on part of a wave.
Do not pick a volatile time to enter.
Charts and platform prices often differ. Make sure to look at the prices on your
trading platform before making a market order trade.
It would be a ring toss trading with just two simple averages. More is needed.
Let’s dissect what the moving averages tell us before going on. The two moving
averages tell us where to enter and where to exit trades based on a simple idea.
The tool I am talking about is the currency strength chart. It tells you what all the
other currencies are doing in relation to others. You can get fancy later, just
follow the simple system first.
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The ForexGrail system uses the currency meter to identify potential
candidates for each side of a trade. It will alert you to the pairs you should be
looking at in more detail. You can alternatively look at all the pair charts if you
have multiple monitors. The currency chart sorts out the strong from the weak.
The system will require you to watch the trends as they develop for at
least an hour after the European, Asia, or New York openings to make sure of a
direction to hop onto.
It is precisely the tool you need in order to determine when the time is right for
making a trade. The ForexGrail system, takes the work out of looking at more
than two dozen charts to see which currencies are weak and strong. You will
need to bring up the individual charts for your currency pair choice and fine tune
You may find some things repeated. This is a very simple system but several things need to be said several times
to show importance.
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Let’s begin a typical trade session.
Remember I told you about the ring toss using just two simple moving averages
on their own? They can’t do much more than tell us during any particular
moment in time, when a trend seems to be developing among the common
forex pairs. They are very good at letting us see where the trends are... once we
are able to choose which pairs to keep our eyes on. Here is how I find the best
currencies to trade;
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You must take all emotion out of your selection of a currency. Our objective as
forex traders is to extract the maximum profit from a deviation between two
currencies. We trade the spread. It shouldn’t matter what currency you use to
make money. Sticking with a particular pair or choosing one currency over
another based on familiarity is dangerous. Keep your emotional attachment to a
particular currency for shopping.
Let’s get on to finding a pair to trade.
Wanting to know how your chosen currencies are doing in their interaction with
other currency pairs prior to opening a trade is just plain common sense isn’t it.
In the ForexGrail system, you must trade the currencies that are moving away, or
apart from each other at the fast rate. This means your first objective is to find
one currency that is trending towards strength, and match it with a currency that
is trending towards weakness. Makes sense eh? We make our money on spread.
The difference in price between currencies.
Pick a currency that seems to be gaining or losing momentum at a faster rate
than the others for the time period in which you are trading. If it is early in the
euro session, you will most like see the EURO and GBP moving a little faster than
the others. New York trading session will usually move the US dollar around
faster than the others. If you are trading any of the time periods; (Europe, Asia
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New York)
Watch which ones are most active and consistent for an hour after the opening.
You can do this by looking at a wide range of charts if you happen to have
several monitors or want to take the time to calculate how each of the
currencies involved interact with your selections. Take a look at this picture. It
shows the heart of the ForexGrail system. It is just a simple tool, but it pulls
everything together. It takes the work out of watching multiple screens to find
strength and weakness.
The currency strength chart is simple in operation.
It looks at all pairs and uses various weighting calculations to find out how,
relative to the others, a particular currency is doing. It measures individual
currency strengths by making comparisons with how that currency interacts with
others. Strength or weakness is not clear using one chart. In order for you to
figure out if the currency is strong, you have to open other charts and see if it
shows strength against other currencies.
The currency strength chart tells you at a glance which currencies are moving
and which charts you should open to take a look. The chart allows us to narrow
down a pair of currencies to trade.
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I need a lot of charts to keep my eyes on so I settle with observing one or two
that contain a strengthening currency and a weakening one. Many brokers have
various pairs available to trade. In this limited example I will select the CADJPY
from my pair selection.
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Let’s apply a 50 and 7 SMA to this chart of the CADJPY and see what’s happening.
This will be my first chart open after seeing the numbers on the strength chart. Before I
do anything, I will want to have a look at the CADJPY to determine if it is a candidate for
my pair. First glance tells me the trend is definitely in place but the trigger happened a
few hours ago.
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It’s obvious that the Yen has been strengthening against the weaker Canadian
dollar for several hours. In the picture last page, the blue line is my 7 and the
pink is 50 SMA.
It doesn’t look like the fifty and 7 will be close to each other for some time so I
will look at my next candidate since this potential trade could be exhausted. I am
looking for a small piece of momentum in spread just after it starts and before
it’s exhausted.
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Do not jump every time you see red and blue. These should alert you to a
developing trend only. They could change. You must watch what the currencies
are doing for a time to get a fix on their true strength or weakness. You are
looking at the meter to provide you with some clues and save time watching all
the pairs. How will you know if the strength is developing or the weakness is
real? Aha.
Look at the 7 and 50 moving average as guides.
I like the one hour view of the 50 SMA to be sure of the long term trend. Going
back to the 5 minute view and the general trend on other currencies, I can time
my entry on the upward or downward, crossing of the 50SMA.
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I am simplifying this example because it doesn’t show the meter which would be indicating this
pair as my best choice and I would have spent some time observing and checking into any
upcoming economic reports affecting the trade I may be in.
I am not looking to get in as soon as the trend becomes directional. You will find
that many times it isn’t possible or preferable to get in on the first part of a
trend. Waiting and biting your nails if necessary, until the exact moment and
taking a little bite of the apple is the way to consistently make profits.
Give your trade some time to work.
Don’t set ten pip stops with the broker. My hard stops would be more than most
people are comfortable with (50-100) but make yours at least three times the
amount you are going to use for a mental stop. Keep stops above 20 with your
demo until you get a feel for where to place them. It takes a bit of ups and down
for the trade to work.
Take a safe piece of the move. 10 pip trades will kill you in fees. They are too
small. A broker makes money on filling orders. Either way. A stop is an order.
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You already lost the spread getting into the trade, getting out means you only
need the market to move a couple of pips and you are out. Keep the stops high
on your demo so they can show you what’s best for you when going live.
I am always looking for the beginning of a trend. I am always watching for the
ones that have already begun for the morning or session. Sometimes the lights
turning red and blue on the meter during the beginning of my trading day may
be showing peaks and not trends. I want to see steadily rising numbers for my
strong choice. High numbers are not what I want to see.
I want to see a climbing number or declining number.
Just picking the highest number isn’t the idea. You want to watch the trends
developing and moving towards weakness or strength,
You are trading the spread between currencies. This means you want to see as
great a difference between two currencies as possible at an increasing rate of
change. That’s the profit. Don’t get attached to one special pair. Sure, if the
signals are there fine, but look around. Experiment with how many pips you can
get with other pairs and how much that translates to in your home currency.
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The fifty SMA shows direction of trade (long or short) and seven when to exit.
(On the basis of your determination of best currencies according to the meter)
I’m saying that because you can’t just pick any favorite for this to work correctly.
Once you have identified the potential candidates for your trade, you need to
get into the market as soon as possible or your increasing spread between the
currencies begins to slow down.
Your personal risk factor is the only thing that will determine how much money
you make.
The ForexGrail system can be used in any time period and under most market
conditions... Even economic reports. It is you who will have to see the trend
beginning and take advantage of it by selecting a good counter currency. It’s not
hard to do using a few simple instructions.
To summarize;
You need the currency chart in combination with the two SMA’s. On the next page, let’s
finish this trade. The 7 is being hit and it is time to exit.
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Chapter 7
Now I want to add one more concept to this simple moving average system of entry and
exit. Anchors are places where prices, on a five minute chart, have a tendency to
dawdle. This concept was developed several years ago when a friend and I would make
guesses on where the price was most likely to rest, before moving on. This discovery
took a few years to refine but I found that using the OandaFX 5 minute close price chart,
I could clearly see the places where price seemed to be magnetically attracted by using
a horizontal line.
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Below is an example of what happened a little later on that morning.
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As you can see, there are certain ranges where the price seems to hang around. I have
them marked as “anchor bands”. I do not try to predict anything more than a likely place
where price will most likely be drawn to.
Anchors are a fuzzy concept and very difficult to explain without showing you in real
time how they work. I will use pictures of the CADJPY I took this morning.
As the image below shows, I begin by counting the amount of times the price seems to
hit an area. I have circled the spots below where activity that morning is shown to
center. I only want some kind of indication of where price will most likely go based on
previous behavior that morning. I am not trying to go back more than a few hours.
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By bringing a horizontal line across, I set the lines where I think the most activity has
taken place. I call them Anchor bands and they are not support, nor resistance. Just
places where the price has shown it is most likely to go. Then rest. It may go up and it
may not.
I don’t know for sure what is going to happen once it hits an anchor, but I do know with
a certain amount of confidence that when price is within one of these anchors spots, it
is most likely going to reach that area. As you can see from the pictures, the price is
almost drawn to the anchor band like a magnet. These little jumps can add several pips
to a trade in progress and the anchors will let me hang in a little since I know the price is
most likely to go to the band. What it does after it hits the band, I don’t know. I just
know it’s most likely to get there.
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Anchors allow me to see a good place to get out of a trade. Using the ForexGrail 50/7
SMA along with the currency meter, shows me where to get into and out of a trade, but
using anchor spots let me wring a few extra pips out of each trade.
I consider what I do the equivalent of driving a car. Sure, there is risk. But I am in
complete control of the decisions I make concerning my trading money just as I am in
choosing where and how to drive safely. Watching charts and trading forex is not my
lifestyle. I use it to provide me with a lifestyle. I pick a time when the market is most
likely to make a move, and I do some planning ahead of time to get a little piece of it.
The mechanics of making trades is something you will have to wade through on your
own using your brokers’ manual. Each platform is different but they all follow the same
routines. I usually make market orders with a huge stop limit and possible take profit
targets. A stop is just an order. Keep that in mind.
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We are trading currencies folks. We try to extract the difference between separate and
quite distinct currencies. Spread trading the forex market is something people tend to
keep quiet about since their methods and techniques usually involve some indicator
carried over from the other markets where there was no spread against another quite
different entity.
Standard charts go up and down; up means good and down means bad. In forex, we can
trade both up and down.
Currency is not determined by emotions the way much smaller markets like stocks and
indices. Most commodities are ruled by the speculators’ desires and fears. Not foreign
Central banks and professionals determine the price relationship of a currency. What we
see on our forex platforms is a contrived market. There is no single central authority for
foreign exchange prices. Professionals and specialists determine the value of a country’s
currency. We have nothing to do with it. We can only hope to find an opportunity or an
edge by understanding how these folks determine a currency value, which is translated
into a price. We only have to find an opportunity.
Understanding that we buy strength or sell weakness of an individual currency, not pair,
is vital if you hope to become successful and last trading this type of market.
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One more repeat….
Test the ForexGrail methodology on a demo until you have satisfied yourself it
works. Always keep leverage low and give each trade time to work for you. Do not bail
out too fast. All good trades move up and down. This is normal. Expect to stay in the
market a while depending on the time of day.
Don’t just jump in right away. Watch for the steady progression of the numbers
on the meter. They will change all the time but still show you strength and
weakness. Be careful of upcoming economic announcements. Most economic
reports will not move the market out of its prevailing trend unless there is a very big
surprise. Years ago, the market would spike frequently on these reports but they
rarely do now. The big ones to look out for and you are advised to take your profit
and wait them out are reports like Nonfarm payrolls. Big reports can still shake
things up.
I wish you the very best life has to offer.
Tom Yeomans [email protected]
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The simple, yet powerful meaning behind this easy to follow system is the use of two
simple indicators along with a powerful tool to make you win consistently. Of course,
not all your trades will be perfect. However, using the ForexGrail system of entry and
Exit along with a little common sense, will result in a much higher percentage of winners
than you have been experiencing. Everyone should follow good money management
principles and never risk more than you can afford to lose. Start with a low leverage
trading account and gradually increase the size of your trades.
Common Questions FAQ
How much can you make using the ForexGrail Method?
That's a common question. You can make as much as the market will give you under the
circumstances of the day. Any professional will tell you that the market will give what it
gives as often as it feels like. Everyone is different. All trades are usually unique. If they
weren't we would know we were going to win or lose would we? It’s our unique collection
of skills that will determine what you will make trading.
Some people begin with a little money and others have a lot. You have to get the silly
notion of making huge amounts of money in Forex when starting out. It’s not going to
happen. The very small amount of people I know who methodically took the time to
develop a good system and ran it several months proving a profit each time ended up
staying in the game for years with me. They found a system, applied good money
management, and didn't jump the gun whenever the market moved a bit.
If you follow a demo system for a few months with good results, you should be able to
carry it out live with approximately the same win/loss ratio. Take your time. This is a
tough business that can pay off well. If you don't run before you learn to walk. Take
conservative trades and never play with scared money.
How often do the setups work?
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I can usually see at least two setups a morning. I have often seen a few more at different
times of the day on various currencies. I have no way of knowing what's going to be
happening. All I can say is that when the correct conditions make themselves apparent, I
will be waiting, this is a waiting game folks. You wait for the right conditions or you don't
make a trade. Stick to that, and you'll be fine.
The idea here is to adopt a system and stick to it. Sit down and write out your rules for
entry and exit. You do it for yourself. You will find that just about any tried and true
system will work if people only stuck to it and had an edge.
The ForexGrail is a good system. It becomes an excellent system with the currency
strength chart added to it. If you can't make it work on paper, you don't stand much of
a chance with real money. If you don't have discipline, nothing, even the ForexGrail
won’t work for you.
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If hypothetical or simulated performance results are used, these have certain
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similar to any examples shown. Past performance is not indicative of future results.
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The information provided in this e-book is not intended for distribution to, or use by any
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requirement within such jurisdiction or country.
Hypothetical performance results have many inherent limitations, some of which are
mentioned below. No representation is being made that any account will or is likely to
achieve profits or losses similar to those shown. In fact, there are frequently sharp
differences between hypothetical performance results and actual results subsequently
achieved by any particular trading program.
One of the limitations of hypothetical performance results is that they are generally
prepared with benefit of hindsight. In addition, hypothetical trading does not involve
financial risk and no hypothetical trading record can completely account for the impact
of financial risk in actual trading.
For example the ability to withstand losses or adhere to a particular trading program in
spite of the trading losses are material points, which can also adversely affect trading
results. There are numerous other factors related to the market in general or to the
implementation of any specific trading program, which cannot be fully accounted for in
the preparation of hypothetical performance results. All of which can adversely affect
actual trading results.
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