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Be Careful about upcoming Forex News Events
Be careful about upcoming Forex News releases. Sometimes news releases do very little to the trend and other times, as shown below, they can destroy them.
I was running the Super 7 system and just opened up 3 positions with the yen using different currency pairs on a new demo account. Unfortunately, I was on the wrong side of 2 our of 3 currency pairs. Just be careful when the news comes out. |
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Some people use this Filter_AO.mq4 indicator as well (or instead of some other indicator): green color is untrend confirming, and red color is downtrend (irrespective of below or above zero).
And SilverTrend_Signal With Alert v3.mq4 instead of ASCTrend1sig (it is the same but with alarm). But, may be, it is for an other system: Brainwashing system. Yes it may be not for Super 7 Trading System. Because I just found this filter AO indicator (modified AO). Last edited by newdigital : 02-07-2006 at 10:25 AM. |
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hi holyguy7 I think the trend triggermode is not realy go with some of your indi , if we have to wait till all in one joint there is some miss trade as you can see the picture of wrong entry , is becoz trandtrigger still in sell .cheers
Last edited by Audio : 02-07-2006 at 09:05 PM. |
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Exit Strategy is Easy
My exit strategy is very easy. The 3 main indicators MUST agree. Simple as pie. I added in indicators from newdigital and they are giving some mixed results. Some trades are better but others are worse.
Check out the following screen shot and you decide. |
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Quote:
However, if you use this with the other indicators, it should work out better. Also remember to use some common sense. For instance some times that you will want to watch out for are: 1. News announcements (be prepared for major ones especially) 2. Asian Session. I seems that there is the most whiplash during the asian session because the price is not moving too much. I would just take a wait and see approach during that time and usually around 2 p.m. EST the price starts trending in one direction or another again. Perhaps creating an EA that closes the trade at the beginning of the Asian session might be a way to go. Anyhow, I have modified the system to add another indicator that appears to help by NewDigital (thanks). The Filter AO appears to be a good addition to the trend trading system. Here is all the indicators and my recolored profile so that you don't have to do the work to recolor code the indicators yourself. A few more screen shots to boot. Now, the 4 must agree. Not as catchy but if it make us money, who cares, I will use it if it is profitable even if it is call Pig Barf Trending System. ![]() Last edited by newdigital : 04-04-2006 at 04:49 PM. |
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