what do your stats tell you?
defy human nature, do the work yourself.
Identifying trend
- Thread starter farmerjohn1324
- Start date
defy human nature, do the work yourself.
No, it is not sound logic; your logic is tautological.
Well it worked today. I made a total of $1072 following the trend. I skipped over many other currency pairs because they didn't have this clear of a trend.
That's better than I've done before.
how did you do it? what triggered your entry? why exit when you did?
I saw that it was clearly trending down consistently for 2 weeks based on a 90ema. (This was the only currency pair out of about 10 that I checked that I could say this about)
I sold it, and placed SL and TP at points that I eyeballed that would make my prediction either true or false. I got busy with other things, fell asleep for a few hours, and by the time I remembered about it again, I had closed at the TP for $929.
Then a few hours later, I scanned currency pairs (I currently only scan popular pairs because they have the least bid-ask spread). Once again, EUR/USD was the only one with a clear trend. I sold it. This time, I closed it manually at a profit of $143 because I didn't want to get too greedy for the day.
bank 'em john-o
All while on vacation. Living the dream!
Attachments
I had planned on adjusting my EMA after some testing.
So you don't require that it's trending for a certain amount of time?
I use an Envelope 0.01% (2pts on NQ ) of market value so I have a no trend area for sideways, but no above I trade longs, below I trade short.
It improves the odds, not perfect, striving for perfect will hold you back as nothing ever is perfect.