Dude! So you've read just about everything you could possibly get your hands on about the Forex. Now you want to get your feet wet but aren't sure where to start. Well then this blog is for you! Follow along as I take a simple system and apply it to an unsimple market. If you're new to the blog you should Cowabunga System Daily Update: 03/07/07
If this is your first time visiting this blog, read this first!
Main Trend
Current Trend= Trend remained down the entire day.
Today I only looked for short trades.
Today's Surf
8:15 pm ET - There was a moving average crossover for a short trade. RSI<50, Stochastics were trending down, and MACD was positive and losing value. This was a valid entry. However because the signal occurred before midnight (eastern time), I did not enter.
3:45 am ET, 6:15 am ET, 8:00 am ET- There were moving average crossovers for short trades at these times but because MACD was already negative it cancelled out the signal. No entries!
Trade Result: +0 pips
Jamdownpippette- Good question. I usually will take a trade unless it's really late (anything after 2pm ET). Even trades around 11am can be risky but I still take those. It's really up to you which times you want to trade. The optimal times to trade would be from 12am ET to about 10am ET. If you have a signal in between those times you'll most likely still have some volatility to carry you to your target.