What a delight to be a part of this site. Babypips has stood the test of time and has been reliable and consistent. I have always completely enjoyed and learned from the submissions.
My wife and I are looking to go live with our trading, as we have trained for a considerable number of years. Our challenge is being in front of the computer for either great lengths of time or at the right time.
We are strong proponents of MACD divergence and discovered from an email, a site called Forex Mystery. They offer alerts for both candle patterns and MACD divergence.
I was wondering if anyone has used this product or if there are suggestions about an alert service of this nature that can provide us with a heads up on divergence?
Much appreciation for this educational tool and I am glad to be a part of it.
Plus, it just might be coincidence as i’m not trading div’s of any oscillator so i’m not after them, but the last few times i can remember coming across some of them div’s, the price always seemed to ignore them. My guess would be that they are too obvious for everyone to spot them, therefore the money that moves the prices deliberately and continuously cancels them…just a guess.
As with mostly anything in life, you can’t rely on just one piece of information to make a trading decision- i.e divergence.
When you go to buy a car, do you only worry about the horsepower? No, you factor in gas mileage, style, available engine types, what purpose the vehicle will have.
Trading indicator divergence solely, or, even with 1 or 2 other strategies is most likely going to lead to failure.
Thanks so much etfak for the generous provision of that attachment. I will seek to use it. Yes, you are correct, there are a number of factors to take into consideration before taking stock in divergence. They are too obvious. At times, for example, today, not only would divergence be the consideration but a host of other factors, such as with the GBP/JPY on the one hour during the NY session. Histogram diverged and allowed for an almost 30 pip gain but a host of other considerations had to be implemented. Also the trade was counter and lack of good management would have stopped the trader out. You are right, that lure can entrap a trader into a false sense of security accompanied by big losses.
You command, FOREXunlimited my greatest respect as a student. I very much appreciated your comment about not being lulled into a false sense of security with divergence and even “with 1 or 2 other strategies” that are “going to lead to failure.” How many have had secure and stable results with their employment, feeling content with their accomplishments, only to fall flat on their face. Why should it be any different, if not more so with forex trading? I am going to use the + formula that you offered when looking at trading opportunities in the future.
