Good (Thursday) afternoon eveyone,
Sorry I've not posted for a day or two i.e. I've just had some 'personal' stuff to take care of (still trading though, trades come first, things going well)!!!
Nick:
I'm ALSO pleased to hear that you sorted out your MT4 issue. I did see your post yesterday and it was 'bugging me' as to how you could relate the pairs and I don't have the answer (if there is one that is).
As far as your current post is concerned:
I've also thought about that at length. I would say to take instruction from the text i.e. when ADX(14) drops below 20 (and / or below +DI / -DI) then it's time to stop following a trend following system according to 'the man' so I'd say to NOT stop and reverse.
Let me put it THIS way: I have renewed faith in the ADX (with ADXR) indicator. I've done some 'monsta' RT System trades this week so far (and my criteria for selecting the instruments for the RT System has been that ADX is below 20). I'm also in a VS trade because BOTH ADX(14) and ADXR(14) were above 20. I'll have to make the same decision that you have to make with this trade, however, if and when the ADX drops below 20 i.e. will I stop and reverse or just TP??? I'm not sure if the same 'ADX logic' applies with the VS though for the simple reason that IT (the VS) takes care of (should anyway) the fact that the instrument is ranging or trending. So far I'm not in any DMI trades but watching and waiting!!!
(By the way: (if this does not encourage you then NOTHING will) as I type this post I am up 159% of my months starting balance on my own account due largely to the RT System trades and that's just trading forex pairs and nothing else. I did not take RT System trades on clients accounts because I wanted to prove the system to myself first but the client accounts are nevertheless stll up 50% or so so on the month using only the SI System so things are good).
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