Interbank GPS

I downloaded interbankFX's GPS program this week and was wondering if anyone has been using it. Just wanting to get some pros/cons on the program or any thoughts in general. I find it to be helpful. Obviously not a sure fire program in sense that trades can not be simply made just by what the program detects as trends. Just wanting to get some feedback. Thanks guys


J

I used that program before IBFX had it. Patterns on one time frame can say one thing while patterns on another be part of a different pattern move. I came to the conclusion that patterns were not all that helpful.

I find trends on higher time frames and then going to a lower time frame to trade are much more helpful. For instance, go to a weekly chart and check the market direction. Then go to a daily chart and when price breaks in the same direction, breaking the previous days high/low is a good way to trade. So if the weekly chart is in a sell direction, I will sell when a currency breaks the previous days low. Just follow the trend. Grab some pips and be done for the day.

Another way is to check the 4H trend and 1H trend. If both are going in the same direction, go to the 5M chart and trade in the same direction.

This is the simplest way I have found to trade. Much better than the GPS. Just my opinion.