iamnoel, I think the Trix Meter works much better when you trade currencies like GBPUSD, EURUSD, GBPJPY, EURJPY etc.
USDJPY has a very small daily range and it is not volatile enough IMHO.
And another thing: the Trix Meter works just fine during the active hours, but as all the indicators it screwes up during the passive hours.
Yes.. it's true. The USDJPY is much less volatile than others but that's exactly the strenght of this pair. This pair allowed us to use less than 10 pips SL to work with. Many pairs is more volatile and we might earn more pips from them but dont forget that we also require more risk to work on them. As a trader, I think it is important for us to keep a decent RR across all trades in order to grow our account. As for me, I dont wanna trade anything with less than 1:1 RR, but that's just my taste.
I scored 42 pips in last 2 days straight with USDJPY trading just before NY and best of all... I use ridiculously 7 pips SL for each trade and aim for exactly 21 pips... That's 1:3 RR, and it's much easier to achieve than with other pairs. We still can push this RR to 1:4 and still it's much easier to achieve than with other pairs.
I already know that GU Signal during Tokyo is exceptional... and now I am also paying attention to trade USD JPY around NY.
NG
