Why 12:00am EST, your system also trades Asian session, you said? There were more losses there, no?
Regards,
VBro
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DislikedHi again Jedi,
Why 12:00am EST, your system also trades Asian session, you said? There were more losses there, no?
Regards,
VBroIgnored
DislikedThanks for the reply fj. I only took a few trades at around 5 Alpari time (he he!) and they din't go my way. 3 sell and 2 buy, the market on the 5 min seems a bit choppy today.... but I am only a newbie, so don't take my wordIgnored
DislikedFirst try of the week at the weekly pivot has failed at 1.2799. The logical direction it should head in next is the monthly pivot at 1.3081. The MACD is still bearish and the stochs are overbout so a reversal is possible. My guess is a reversal judging by the price action.Ignored
DislikedYou should wait till is goes up to the overbought or down to the oversold line and reverses but you dont have to if your up to the risk factor. Because that trade was so closse to being oversold it could have made a large bounce of the 20 line in the stochs.Ignored
DislikedFirst try of the week at the weekly pivot has failed at 1.2799. The logical direction it should head in next is the monthly pivot at 1.3081. The MACD is still bearish and the stochs are overbout so a reversal is possible. My guess is a reversal judging by the price action.Ignored
DislikedFJ,
First off I have to hand it to you and everybody here participating, great thread and great system!
Question: do you really think those two MAs add anything as visual aid, since they will always cross anyway when a candle engulfs another candle in the opposite direction? And for exits don't you think the stoch crossings make better exits than the MA crossings?
Secondly, would you be so kind and post the new MACD colored indicator, I only have version 104. Do you happen to know what's new with the new one? Please also the Stoch MTA you're using and Weekly/Monthly pivot indicators (daily I don't need) if you don't mind.
And regarding the MACD indicator, one thing I haven't understood...Ignored
DislikedHi,
I usually choose my exit based on price action. For example if I see a set of candle reversal patterns Ill move my stop up or even close my position. Although if the MAs cross sometime ill just move my stop to the low/high depending on which direction my trades in. Sometime the price will reverse on continue on its path. Todays most recent price action has produce many good trades in the last few hours based on the basic rules. A chart is attached and so is you indicator.Ignored
DislikedThe simplicity of this system never cease to amaze me. I discover that there is alwayz Price action once there is a signal, most time, u see engulfing or morning/evening star and that further throw weight behind the system.
I am alwayz amazed and i perceive it doing well even in consolidation period.........
Nice one FJIgnored