I have 3 exponential moving averages. Occasional i get it right. As the results show the majority of times it goes against me, i could cry it’s funny. Idk how can i improve ?. Feeling down atm.
Do you have anywhere with pictures showing the trades, or a tracker like myfxbook?
Do the trades seem to immediately go against you and then stop out quickly?
My guess would be that your trades are too big and your stop loss is too tight. Unless you’re just completely getting the direction wrong, then you need to try a different strategy
i have myfxbook but not sure how to use it. For example when the news comes out, which one is currently happening, like the current load ?.
@AaronJParas, if you are using MAs you should check out this thread it will have you seeing green in no time.
Patience is key though!!
GL,
KC
To my mind, backtesting would help. First of all, backtesting would show whether the idea itself could be profitable or not. Another point is that if you would use flexble enough backtesting tool (like Forex Tester or something like that), you will be able to check strategy rules one by one and test it many times with different paramaters to find the combination of values that would work best. Backtesting on historical data would be much faster that manual testing on demo account.
As it was mentioned before, the problem could be in risk management rules. Try to change them and test other variants. It would be useful to test this strategy on another instrument (pair) too, since its performance depends on volatility.
You should practice more and you need to have a risk management strategy because market is volatile you never know how it’s going to play.