They are valid signals (although I never got them with my broker). But just remember you are going against a well established trend.
Ignored
willf,
Yea, I noticed that after I pulled the trigger. Good thing its still a demo. I added a 28 EMA...can I use that to filter my trades...only going with the trend?
Yea, I noticed that after I pulled the trigger. Good thing its still a demo. I added a 28 EMA...can I use that to filter my trades...only going with the trend?
Ignored
The 28ema is ok as a filter for most JYP crosses as they have only gone up for quite sometime. Notice how the price retraces below then moves up again.
It's not so easy for other pairs. Personally I just zoom out and try to see the bigger picture of where something is going.
The 28ema is ok as a filter for most JYP crosses as they have only gone up for quite sometime. Notice how the price retraces below then moves up again.
It's not so easy for other pairs. Personally I just zoom out and try to see the bigger picture of where something is going.
Ignored
Agreed! as you read through the fozzy threads you will see it discussed that one would be better off to trade all signals that your system gives you. So if I get a fozzy signal that goes against the long term trend I don't try and hit a home run. I shorten up on the T/P and take what the market gives. For example I took the EUR/JPY cross and the GBP/JPY cross tonight. Both were showing pin bars on the daily. Granted they were not at a swing low, but I had the trend and this type of price action bar against me. I took 25 quick pips from E/J and 14 from G/J. I am happy with that. So to sum it up it's how you trade the signals and understanding where price is at that point in time. That is what I am learning anyways.
On determining trend, I use the Jacko method. Or by simply putting a 50, 100, and 200 ema on my charts. If 50 is on top followed by 100, then 200 you are in an up trend. Reverse for down trend.
I was a little iffy about taking this since its against the main trend. However, I banked quite a few pips from the GBP/JPY & EUR/JPY last night and those were against the main trend.
I was a little iffy about taking this since its against the main trend. However, I banked quite a few pips from the GBP/JPY & EUR/JPY last night and those were against the main trend.
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Joined Sep 2005
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Status: Raw recruit
|370 Posts
G'day all,
Yesterday (26/6) the Fozzy EA v2.2 got me into AUDCAD, EURJPY, GBPJPY & USDJPY all short. All turned out to be winning trades. All except the AUDCAD were exited on the same bar.
Today (27/6) the EA got me into CHFJPY and GBPJPY short again! There was no re-cross on the G/J so I am confused as to why that trade was initiated 2 days running, but all stemming from the one cross. It's a bit of a concern and the first time anything like this has happened. On this occassion I ain't complaining as the G/J has netted me a total of +159 & +155 in consecutive days. But, if there's an issue with the EA, it could just as easily be -ve pips.
