how about that ? I think we need to know the prices action with the help of indicators not only based on the indicators alone, could have biased the results
Hey! Yes the system is still profitable. Let's get some posts again and hear some feedback from those still using. It's a good system, better than many you will pay hundreds or even thousands for, and will make you profitable over time.
Just be patient and wait for the set-ups! I am using it on H1 and H4 as I work , so can't always trade during the day..for now anyway.
I have added the Donchian indicator for entries. Check out the chart. We only enter when all other conditions met and then wait for the Donchian to cross the bands.
Look how you would have been kept out of the recent up move on the AUDUSD when others went long only to be slammed back down for another test on the lows. Not ready yet!
I will be posting some other pics later. Look forward to any feedback or questions you have. Lets collect some pips from this market!
Check out how the RSIOMA crossed before the move happened telling us to get ready and then the confirmation at the Donchian cross:
thanks for sharing.can u kindly tell me whats the value of donchain u r using
EMA Period= 120
start shift = 6
We are up about 300 or so pips on the EU and as you can see, there was no reason to get out if we trailed below the sell zone fib line.
The Donchian line is just about to cross up on the AU. Could be good entry, but not so good news tonight for aussie.
I think, that indicators are nothing because real brokers earn money based on "insiders" information, news from the companies.
Well we are not brokers...brokers make money off of us!
Every successful trader that is making BIG money that I have personally met uses indicators.
You have to remember what indicators are for. They are to help you interpret what the charts are telling you. They are merely tools.
You also have to remember that this business is all about probabilities. If your system has a positive expectancy, then traded accordingly, you will profit! Yes news can render all the indicators useless, but if you can stick to your plan and trade your system you will be ok.
I would partly agree with you and partly disagree with you.
Partly agree as you said indicators are nothing, because there are 1000's of indicators and frankly i could make a million trading systems out of those indicators and they would all have some degree or success and some degree of disappointment, so it's really just to be considered as tools, most of the indicators will just tell you the same thing whats happened in history but in a different way.
Partly disagree, because although there are traders who can trade off a naked chart. Many traders would like to use some indicators to filter out noise or fake-outs to help them see the clearer direction.
BTW, brokers earn mostly based on spread, commissions and in market maker models on your losses. It's actually the banks that are competing and trading against each other daily that we have to worry about, because all said and done its banks that have the power to move the fx prices as they can just input multi-billions in volumes and change the prices.