Trading systems do not last forever. Market dynamics change in subtle ways every day. Sometimes they change dramatically - such as the last two weeks.
This system has merit in the right market conditions. The last two weeks where definitely not conducive to this system if you believed the pair was trending up. However if you had noticed a double top around 1.6030 and was brave enough to trade the system in a market trending down you would have made a chunk of money.
Without a doubt, any system requires some experience and knowledge to make it profitable. Take the best system in the world and give it to an inexperienced trader and I guarantee that the account will be blown over time.
I used to post in an instant bulletin service but no longer take the time to post. I do however read various forums when time permits.
Anyway time for me to get down off my soap box. In closing I will say to all - trade someone else’s system at your own risk. The system designer knows the system weaknesses and short comings and is able to compensate when market conditions change.
This system has merit in the right market conditions. The last two weeks where definitely not conducive to this system if you believed the pair was trending up. However if you had noticed a double top around 1.6030 and was brave enough to trade the system in a market trending down you would have made a chunk of money.
Without a doubt, any system requires some experience and knowledge to make it profitable. Take the best system in the world and give it to an inexperienced trader and I guarantee that the account will be blown over time.
I used to post in an instant bulletin service but no longer take the time to post. I do however read various forums when time permits.
Anyway time for me to get down off my soap box. In closing I will say to all - trade someone else’s system at your own risk. The system designer knows the system weaknesses and short comings and is able to compensate when market conditions change.