By the way:
I've put some more thought into where / how to TP on those 'opportunistic counter' trades if you take them.
Take a look at the attached chart.
It's a 'good old fashioned' way to exit i.e. TP at the first 'downturn' (or 'upturn' if short) of your 'stock standard' Momentum Indicator!!! Many other systems use this method.
Remember: these are 'opportunistic' trades so you're not looking for, nor should be expecting, to be in these trades for long periods of time particularly seeing that you are ACTUALLY going AGAINST the DMS / ADX signals so the idea it 'get in' and 'get out' with a little profit (although as I mentioned on the chart: that 'little (opportunistic) trade' was good for about +1 000 pips or so in a few days which 'ain't to bad' if you ask me)!!!
ALSO: if things keep going the way they are then we COULD VERY WELL SOON be getting some new signals on the sort of 'more popular' pairs e.g. GBP/USD, EUR/JPY, GBP/JPY, and so on and so forth. Oddly enough: ALL my current positions are on the more 'obscure' (exotic???) pairs (with the exception of EUR/USD and, depending on whether or not you consider 'AUD' ' and 'NZD' 'odd', then some of those as well).
Regards,
Dale. (forexbrokersonline.net).
|