So far your analysis has proven right.
Price bounced perfectly off the 200ema on 1hr tf.
I made a quick 12 pips off that bounce
Wes
Trick:
toggle through the different time frames on the same chart, marking the 200ema on each by drawing a horizontal line through it.
These 200 ema levels are significant for the dragon and by seeing them all on 1 chart we can follow his movements.
- #106
- Feb 4, 2010 8:01am Feb 4, 2010 8:01am
- Joined Mar 2009 | Status: Just visiting | 12,891 Posts
Use this MTF indicator, instead of toggling between timeframes
Will give it a go...
- #113
- Feb 11, 2010 2:40am Feb 11, 2010 2:40am
Looking at this system i can see you will make pips.
I do have concerns however.
As you earlier insisted, this system is 'Alive' and so is not mechanical like you said.
As this system is not mechanical, when you are trading this with real pounds and pence, you will have issues.
I say this because the lack of a mechanical entry and exit signals means that you are using your judgment and your emotion.
I promise you this is very dangerous.
You Do Not know what's going to happen in this market, otherwise you would be a multi-billionaire by now.
As this is the case, you cannot use your judgement and "gut instinct" to trade, because there is only a 50% chance of this being right (not good odds to me).
Again, I'm not saying you won't make money with this, I am simply poijnting out a fundamental flaw, which is that you are relying to much on instinct and judgement with this, and I assure you the FX market is "un-judgeable", it will do what ever it wants, regardless of your dragon wanting to soar with the eagles, if the market is going to crash and you listen to your dragon and it wants to fly, your going to get burnt.
By all means trade this my friend, however i really do see this as quite a big flaw.
However, I must say, the concept is pretty cool
I do have concerns however.
As you earlier insisted, this system is 'Alive' and so is not mechanical like you said.
As this system is not mechanical, when you are trading this with real pounds and pence, you will have issues.
I say this because the lack of a mechanical entry and exit signals means that you are using your judgment and your emotion.
I promise you this is very dangerous.
You Do Not know what's going to happen in this market, otherwise you would be a multi-billionaire by now.
As this is the case, you cannot use your judgement and "gut instinct" to trade, because there is only a 50% chance of this being right (not good odds to me).
Again, I'm not saying you won't make money with this, I am simply poijnting out a fundamental flaw, which is that you are relying to much on instinct and judgement with this, and I assure you the FX market is "un-judgeable", it will do what ever it wants, regardless of your dragon wanting to soar with the eagles, if the market is going to crash and you listen to your dragon and it wants to fly, your going to get burnt.
By all means trade this my friend, however i really do see this as quite a big flaw.
However, I must say, the concept is pretty cool
- #114
- Edited 3:06am Feb 12, 2010 1:33am | Edited 3:06am
- Joined Mar 2009 | Status: Just visiting | 12,891 Posts
- #116
- Feb 12, 2010 1:39pm Feb 12, 2010 1:39pm
- Joined May 2009 | Status: Everyday i learn from the market! | 1,794 Posts
MY telegram channel: https://t.me/https://t.me/tnavieurusd
