Has been quite some time since my last post.
I am trying out the same approach, 20 and 200 SMA - but now have added the pointer to it which is 8 SMA.
Also, have decided to trail stop loss in every trade candle by candle.
Today, it worked well for two trades. Rest failed.
Reason was only one - I wasn't waiting for colour change as i had the trailing mechanism to reduce losses, i was taking trades based on direction. And that didn't work. Thought the 2 -3 trades which succeeded, took care of all losses.
So important lesson - wait for colour change.
On Long side - take trade only when white breaks high of black candle and SMAs are below. And;
On Short side - take trade only when black breaks low of white candle and SMAs are above.
Was lucky to end on break even. But good learning.
Made Money
No comments:
Post a Comment