wait for both AC and AO to go to same color and RSI to cross 0 and usually MACD will be crossed or at least heading in the same direction of the trade. As for me, time for me to get to bed as I never get to trade good time due to college. Hopefully i can find good long term trading system because im getting tired of scalping at 7am-10am only. want make more good pips on my live account and get built up for when I can trading London session to it fullest so ill be demoing this and trying to help with method as much as i can.
Get rid of the AO and AC indicator and try using PSAR with .02 and .2 and when first dot lines up with the RSI usually indicates good trade. Though if you only enter on first dot you miss few good trade or wont get valid signal for awhile with some pair but looking back on few pairs looks promising.
After all my turmoil and frustration last night, I wake up to find that the EUR/USD ended up going up about +200 pips, after I had cashed out at +26!!
I won my USD/CAD trade for +46 pips, even though it also went down for a few hundred pips!! What is worse is the fact that I used a .01 lot size because I had 3 other trades open at the time and was trying to avoid a margin call!!
I AM DEPRESSED.
The cable is not budging so I'm glad I got out of that while I did.
In a nutshell, I'm frustrated because my predictions are valid and I place the right trades, yet my S/L usually gets in my way and I never set my T/P high enough!!
Oh well. We'll figure it out. At least the signals are working and I'm still ahead (just not as much as I should be).
Starting Balance: 1,000
Current Balance: 1,134
Pips Gained: +152
System Started on March 5, 2009
Equity Increase: 13.4%
Win Ratio: 76.9% (10/13)
hello. A few questions. Do you apply the settings to the MACD to the close or open. And about the ADX, how exactly do you read that indicator. Should there be any settings for this indicator. And also, before one jumps in a trade should the indicators all line up perfectly at the same time before jumping in the trade.