Have been absent for a few weeks.
Having the system perform poorly has been a big part of that as I waited for it to turn around, but it didn’t.
Then when it did, I was too involved in work and other issues to bother continuing at that time.
That’s about as honest as I can be about why the thread was delayed in proceeding.
Tonight I closed every open trade for a combined loss of 44 pips.
Added to the previous loss, this system has made a loss of 265 pips.
Not very inspiring.
However, I did notice amongst the mess there were some very good trades, and I hope some of you were able to spot them and trade them.
I was hindered by the published rules here from intervening and changing the rules.
I simply wanted to openly and honestly trial this to see if there was a way to trade the daily TF with a MA crossover strategy.
Still convinced one will work, but not as a buy and hold approach like I was attempting.
It was explained in an article that in today’s trading community, there are about 80% bots trading.
It explained why price no longer seems to obey the support and resistance levels like it used to.
Instead, price will turn around many pips before those levels are reached, or it will breach the level and then retrace or do other unexpected or non-news-related things.
Not an excuse.
I should find a trading approach that handles such activity, and I believed following the Daily charts would overcome that.
Conclusion: I haven’t given up on the basic tenets of the daily chart trades.
But I may look at the 4H TF, which I alluded to from the outset of the thread.
We have not discussed that yet, and I did mention earlier that we would do it.
Right now I am far too busy to contribute, but that will change once work and other issues allow.
Meanwhile, I have no problem if others feel they would like to add some comments about how or why our approach here has not tasted the success we all would like to see.
I don’t mind if you are quite blunt in stating something - we are all here to learn.
So please speak up if you know something or have noticed something - I don’t bite