Another thing to keep in mind is that there will be unavoidable instances where this system will signal a losing trade, i.e., daily price moves enough in favor with the weekly open, cross the pivot and the MA, and pushes slope over/below +0.4/-0.4, but then quickly pulls back for a loss. This looks to be the losing trade with this system that cannot be avoided. Various confirmation/validation filters could keep one out of these trades, but likely at the expense of either missing other profitable trades or decreasing overall return. I am curious what others think.
I closed losing trades on CADJPY and EURJPY last night. Exposure per trade was minimal, but one can see how correlated pairs could make a dent in your account.
Without regard for fundamentals, I put a buy on the NZDUSD retrace today according to my daily chart.
I closed losing trades on CADJPY and EURJPY last night. Exposure per trade was minimal, but one can see how correlated pairs could make a dent in your account.
Without regard for fundamentals, I put a buy on the NZDUSD retrace today according to my daily chart.