DislikedHi Turk!
I don't usually trade eur/usd (it annoys me )....but, I do watch it...I think that it has been giving marginal signals because the trend is tired & price action has been marginal (but many trader's have done well with capturing pips...look back at Palmer's posts especially).
I did really super last month w/MACD (over 700 pips for the month). But, I have to admit, that I "cheat" and confirm TC, RB & RT 1 hour...It is very rare when I enter a RB/RT signal from 4 hour unless it coincides w/S&R. Truly, the "magic" of this system comes from studying price action. I've had four trades this week that were based on TL & price relation to MA's per system rules....2 G/U trades that netted 80 pips and 100 pips per lot...and 2 swissie trades that netted 60 pips and 50 pips per lot (I am on "vacation" so I used entry orders based on chart patterns and interplay of price w/MA's)....so, I'm up almost 300 pips this week because of this system.
PipsIgnored
Great going pips!!
Could you perhaps give us all a breakdown of your successes?
I started trading this system on the 16 April. To date I'm up 309 pips!!
The most successful pairs for me have been Cable and USDCHF.
biggest winning trade90pips
biggest losing trade53pipstrades38
consecutive losses3winners28
consecutive winners10losers9 (one losing trade was only 1 pip!)
win%75.60%
What you call "cheating" has saved me from potentially disastrous trades! The 1hr confirmations are excellent to have in your arsenal.The MACD entry signals are probably the most reliable in forex!! WELL DONE PHILIP!! Missed a lot of signals because of day job!
But you're right, Philip's strategy has really taught me to not just be mechanical, but also to constantly consider price action. From a personal trading point of view, I know I exit the winning trades too early. How can I remedy that?
Anyway, won't trade today, NFP data looming. As Philip himself said ,NFP and interest rate days = stay out!PLUS...Monday is a holiday in London. Japan and China holidays as well (, so expect severe whipsaw action 2day.