an indicator is just about the most useless trend tool possible (and i mean, any indicator, SMA, DMI/ADX, MACD, you name it)... This is because a trend has variable probability phases and one has to take action only in certain portions of a trend in order to achieve a good probability. "The trend is your friend" does not suffice.... S/R along with swing analysis is much better suited. I doubt your system works and i don't understand why you have started this thread... Are you trying to debug it by using other people's opinions?
After last news released in NY session, we wait for a doji, bullish or bearish engulfing, hammer ( or any reversal candle pattern) to be closed When Sma21 is upside we place a BUY STOP order 2 pips above the head of this candle and target will be price touch with SMA21. The S/L will be 2 pips below the tail of this candle. When Sma21 is downside we place a SELL STOP order 2 pips below the tail of this candle and target will be price touch with SMA21. The S/L will be 2 pips above the head of this candle.
ok. cable is 9941atm. SMA is downside. u r waiting for a reverse candle and u will enter a short. then target SMA. just backtest this on cable. it doesnt give u good results. YOu are not obeying defined trading rules. it seems you will be cutting yourself short on your profits. 1. u enter positions when you think the trend has finished. you fundamentally ignore the "trend is your friend" 2. u have no risk reward scenario before entering. a trade that can lose you 200 pips can b entered to reward you with 150 pips. at some times. 3. no room for pyramiding imo basically, hte prob with automated systems is this: they will work in some market conditions but not others. they are never a complete system. sure yours will work in some very bullish and bearish markets such as that seen on cable and maybe CHF but it wont work on less volatile pairs. cable and CHF will also have less volatile movements at some stage too. thumbs down for me.
You may be right. Maybe Psycho hopes if he can throw up enough BS - charts, recommendations, someone out there may help him recoup some of his $10K loss.
I agree. However, for my long-term portfolio, I use the 20, 50, and 200dma, and measure the changes daily to spot a potential problem with an equity. By long term, I mean equities that are tactically allocated, and are held (about 80% held) for the year or longer. Let me know what you think. Let me know what you would want to add/remove as well. Thanks!
Can you imagine what a working system that produced returns of 15-25% yearly would be worth to a RIA working with retirees?:eek: I would venture to guess that if in a HNW market (or market with investors WITH money), and once word got out that there is a RIA who does ___ and ____ returns STEADILY, it would be about three years with the right staffing to provide the accompanying service, and there would be about 250mm under management. And growing!:eek: HUGE $$$$$$ I've yet to see it happen though. Probably never will, as no one sells a working system. Psycho is laying out his strategy, so lets give him the feedback he's looking for to possibly "fine tune" (if possible) his system. That's the American way... Helping others helps more than just one. He will learn something from it, I will, and others here will too. If it sucks, it will all be brought out for everyone to see. But if it's just needing "a fine tune" in discipline/strategy, etc., you never know what could happen. When it comes to making money, my cup is never too full...
Hello, I suggest you let the man deploy the whole strategy and then you can eat him alive,lol. You will not attempt to sell a clickbank here. Cheers B