Simple Trend Follower System - page 12
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Hello all,
is that strategy still working? I have several false signals on H1 EUR/USD chart with it. Does it depend on markket condition? Or am I doing something wrong?
My understanding is as follows:
1. Go to higher TF (I use H4) and see overall market condition (trend/no trend, hi/low) if red or green DMI above 20 and ADX above 20 than go to lower TF(I use H1)
2. See if DMI crossed above 20 and ADX is above 20 see if in same direction as on higher TF(H4). If yes than trade according to DMI (green for long, red for short).
3. Put SL/TP on high/low of daily. Wait for resoults:-)
4. If you get oposite signal from DMI = exit trade
5. MCAD = additional confirmation.
Is that correct? Please show me my mistakes:)
regards,
Lewan - rookie trader:-)Hello false signals are part of trading. NONE system is false signal free.
Any trader will have at least 50% of false signals when starting. And when becomes experienced trader his eye will discard many.
This system is best suitable to reenter when the overall trend is coming once more time.
You have to spend several hours watching these indicators to understand how it works and how to guess next market move.
Regards,