As most pairs' TMA and 240MA converge and volatility spike indcators are no longer reliable.
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DislikedWoke up to lots of losses this morning.
So I think with a little discretion, instead of following indicators blindly, we can filter a lot of bad entries.
I think a lot of these pairs are going into a major trend change, which seems pretty obvious on these charts with the TMA closing in on the 240. A good time to sit tight and get ready to trade in the new direction.
Also, from now on, I'll be watching the angle of the TMA to be sloping in the direction I want to trade before I turn the EA on.Ignored
DislikedHi folks...
Using Bollinger Bands as an added filter...
Buy above SD1 & Sell below SD1
Cheers !Ignored
Dislikedtough first day on the demo.... got hosed by the GBP pairs. (Took all of them). Would never take that many on a real account though.....
NB, do you intend to take into account fundamental
Just a thought on exits, Im guessing most people are starting this on minimum size (myself included) so this may prove difficult, but it could be possible to see an increase in profits by taking off half the position at the middle TMA line, and then trailing stop the rest. A lot of trend follow systems make their money in those big one way (albeit rare) moves....Ignored
DislikedOK I switched the thread to people who have at least one vouch. As I just posted in the last post we are at convergence almost across the board lets let price dictate how we are going to trade. We are not here to reinvent the wheel but to learn a system. I do want to add some kind of convergence/divergence indicator and I am looking at the three posed so far.Ignored