Derek et al Easy Trading System

In sync with this of course the USDollar Index turned to a Short on the FXMax. I went short accordingly.

It stands to reason then that USDCHF should turn it's trend too and go Short. I have opened a short position, but it may be prudent to hang on a bit and wait for the FXMax indi.

From my post 69. It is interesting to note that AUDUSD was the canary in the gold mine and the Long trade is progressing well. I have added a SL = BE.

Trading the market at this time will be difficult for most, but I think it has become evident that the key is to follow the trend no matter what and that if you have a position which is on the wrong side of a trend change, just close it and take the loss.

For this reason you may have also have noted that I do not open a position and a Stop Loss for it at the same time and that I only use the SL to BE or TP, because a change in trend will be your manual SL.

So now we can go back to where we were at the beginning of this thread and using the M5 chart for GER30, we can look for Long trades only.

Derek,

Thank you for sharing.

Please take an advice - forex sweepmod indicator is a repainter, on small TFs especially.

J.

Hi chojnak.

Pleasure to share.

You are correct, but it is not necessarily a problem. Watch how it behaves and you will be able to use it. Re-paint can have it's upsides too.

A note on Gold: https://www.zerohedge.com/commoditie...idity-problems

And my broker, FXCM, has halted it's trade!

Hi Derekw,

First Congrats !!

What do yhou think to use your system with RENKO ??

No. I don't like Renko

Sorry man if I was short on that one. I'm visual. I cannot see time like that.

So today I did not have a great trading time. It was ok. but there was a lot of yield which I couldn't take advantage of because I was otherwise engaged. Strangely enough I did get both those swings in by just following the system. And right now you can see it happening again, right? No. It looks like a great sell set up hey? But it's a buyers market. So it's not. Stick with the plan.

As long as it takes, wait to buy off the channel bottom. An arrow will help. Unless of course the world changes. Thank goodness we know how to deal with that.

derekw,
what does this indi tells me if it is 60?

Hi Renkotop.
What I can gather it seams to be like a fractal adjustment or rather like a longer setting on a Zig Zag. Try play with it. Use a vale of 100 on an M1 chart and you'll understand.

GER30

This is where I am on the H1 chart with one position left with SL set to TP.

There are two possibilities; look for a Buy trade on M5 or wait for the trend to change. I say the latter because in such uncertain times I feel that things could reverse and the market drop again. Also the Ichi Monitor is looking like the trend is bearish.

NZDUSD 5M BUY... Hope i get it right.

From midnight tonight South Africa goes into a 21 day lock-down. We are only allowed to leave our homes for essentials and only one person from the household can leave to do it. It is enforced by police and the army is being deployed. Is this because of a virus or because of a government?

From a trading point of view this will obviously be terrible for the economy and since this is a worldwide phenomenon it is very difficult for me to take a Long trade outlook on the indices. Yes, we caught the bounce yesterday, but I think that is what it was. If I follow my system then I should wait for a trend change rather.

The caveat to this and the possibility of a Long trade is this headline: Senate Releases Full Text Of $2 Trillion Stimulus Bill

Here's the link: https://www.zerohedge.com/political/...ssive-drafting

Thank you Derek! NU TP!