- the system
- on going testing
- to note
- picture examples
I used to trades at wrong time and watch winning trades turn on me to hit SL.http://4.bp.blogspot.com/_9gn6KLa5xt...oalaAlbino.jpg
I want to believe like all of you that forex works.
My idea of the koala system came when i was searching for no brainer ways to "trade" forex. I came across a 3 MA system and work constantly to tweak it.
2) The System
i call it the koala system because i like koalas. Secondly, i wish i can laze around like them. Forex is my hope
3 Moving Average Indicators on EURO/USD M30
Period of 3 , 6 , 9
Smoothed and apply to Median Price
Make them bold and off different colors.
We are looking to trade when the 3 MAs turns parallel / diverge with each other. The trade is in the direction of the MAs.
The earlier you enter, the higher chance of success.
3) On going testing
I will usually use trailing stop loss of 45
TP I tried to put it just before it reaches a pivot S/R or major S/R.
However TP is flexible and based on your style.
Folks who prefer quicker response, at the risk of more false signals, can try M15.
The Koala System is to minimize your wrong entries AGAINST the trend. It does not guarantee easy money!
4) Exceptions ( High risk )
You have to do your homework and be aware of the market. If you are aware of upcoming important releases ( NFP for example ). Stay out!
5) To Note
Before you trade, always zoom out to at least a few days of M30. If it is OBVIOUSLY trending against, dont trade upon onset. Wait for 1 more candle to confirm.
IF your M5's KOALA is opposite of your direction, DO NOT TRADE
6) Picture Examples
an example of a no trade situation. The day in context was a major bank holiday. Trades can go either way due to low volume.
Hence the Koala is right ... when in doubt, stay out !
a classical false alarm. If you take a look at the level 1.4000, caution should be taken
However if you use the standard 50 SL, you would have survived.
a good entry! The Koala is parallel / diverging
A)I hope i can gain insights from YOU. This is a honest sincere post don't flame.
B) Please do not link to other systems or have other discussions. This thread is for the refinement of the koala system
Feel free to try it out.
Take a look at the M30 charts and you can see it is pretty accurate.
Critically evaluate the koala system.
Make it better for all!
You can visit my blog on various forex topics and Eur/USD views too
p/s please rate this thread if you find it useful
*you are responsible for your own trades.*