Just found this indicator wanted to pass it along…
Trying it out now with the contrarian trading - S/W analysis that @Trendswithbenefits mentioned a few posts back.
KC
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Howdy K @frandlost … Thanks for adding this Indicator to the thread… The use of a larger cross reference of Brokerages, should make the information displayed by the Indicator more compelling.
Cheers & Staysafe
Apparently that indicator has a demo subscription period. However, they do offer a free “lite” version that is for the specific pair being traded and is based on IG’s information on the Daily FX site. It doesn’t include all the other brokers as the “pro” version.
Fell prey to poor judgement and entered long on the GBP/CAD. This was a number of days ago. Trying to anticipate and “up move” rode the elevator into the basement.
.01 positions.
Entered additional positions in the basement in conjunction with the SSI Lite indicator and @Trendswithbenefits, I have to say I could see the buy/sell see/saw unfold. Majority was short and I went long. It was enlightening. Have taken $$ off the table as I’m riding the elevator back up toward profitability.
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I had a number of .01 trades on (GBP/CAD, NZD/JPY, AUD/CHF) in an LMFX micro account. Part of my analysis was using the lite version of the short/long position indicator posted above. Holding long when the majority was short.
Just closed all positions for a net gain. Small numbers since open but a good percentage gain overall…
@Trendswithbenefits I’m still finding that I’m trying to anticipate “the turn” and have to be patient and wait for the XLV4 MA signal. What I have been doing is if it goes against me is sit tight and get in at a better level once it’s found support. Even at this point I am still “jumping the gun” a bit.
I have to do a better job at using ATR for pending order placement and SL/TP. Having a mental block on how to do this properly.
@Lang15 has a great video on this I will have to review.
KC
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