Thanks for the link. I plotted the system for some currency pairs, and it looks promising. As you suggested, you can get better entries (though they may be a little more aggressive) by employing candle reversals or other price action techniques (see below) to play the retracements.
You may also want to employ as I do candle techniques ,looking for 5 min penetration with no follow thru at a particular ma etc. Also s/r lines such as Pivots may help with entry/exit points. Keeping a system simple and clean will be the best methodology.The system above has set of rules applied to it. Once you find a working set of MA's that you have watched for at least 50 to 100 entry's/exits,and are comfortable with you are best advised to write a detailed plan of action and sticking to those rules. Remember the markets are nothing more than psychological snap shot in any given time as to what the majority of people are thinking, so adaptation to market conditions is critical the more time you spend watching the markets the more you will realize we see the same things over and over again. MA's will help you there as I firmly believe having traded consistently fulltime for more that 6 years that MA's are one of the few indicators that will keep you on the right side of the market's. As traders that is all we are looking to be at any given time:to be oin the right side of the market. One more tidbit I have gleaned from other's and have employed,If you have a sound money management plan built into your methodology then: Always Always Always focus on your trade setup NEVER NEVER NEVER the money aspect of the trade. The money will take care of itself.If you have done your homework and studied and devised a sound trading plan then LET your system work for you,Don't let your system work you! Treat TRADING as a business.PERIOD.I wish you much prosperity and fullfiment in your trading career.
