Quote:
Originally Posted by jerrycollie  Hi Rick,
Yes, my Maestro took a few hard stops on some Dollar trades; but it is doing okay on its Yen trades. The sudden recovery of the Dollar caught me off guard, too; although I still don't think it is a long-term trend change; but I can't tell for sure. It looks to me like the Dollar pairs are still above their lower trend lines. These will teach me not to trade Fridays. In the meantime, I am holding pat. I think the problem with Maestro is that it needs a larger stop loss, like about 500 pips, to allow for these sudden dips. Of course then I would really get killed when the trend reversed.
So that is what I like about GT Shadow; there are no stop-loss points; you just wait out any drawdown. I can see one problem though: If the swap is running against you (as in shorting AUD/NZD), then a long-term drawdown could let the swap eat up any profits.
Happy trading!  |
Hi Jerry,
My demo account also took a big hit last Friday on the US dollar reversal. My three LMT trades where doing really well and then the GBPUSD exited at par, I lost about 124 pips on USDCHF and I exited my EURUSD trade at a gain of about 335 pips when the closing price dipped below the 10 day MA. It was a wild ride. According to the LMT trend indicator the US dollar is right on the verge of a trend reversal but it is hard to tell because of the wild swings. Even so, I am not one in favour of the no-Friday-trade rule because sometimes you win and sometimes not.
Gobs of pips to you
Rick