Watch my 11 minute video below to let me know what you think via commenting
My exit forex trading struggles
This video presents 8 random forex trading (from Dukascopy Jforex 3) positions that my current automated trading system picks up. It seems that the Average True Range and Simple Moving Average fast/slow moving crosses are lagging. The only reliable exit indicator is the equivalent of ‘take profit’ but I choosing potentially Profit N Loss in US Dollar for any open position. Would it not make sense to statistcially calculate the best target with most likely peak average of any position.
What this video reveals
This shows how random these positions. It is so random that there is no pattern but still some positions exceed $.70 for 0.001 amount traded. This is from my Dukascopy API which can call Profit and Loss in US Dollars for any open order.
What to do?
Should you use a combo of the Average True Range and Simple Moving together. Should you allow the trader to stay open e.g. as in hours? It seems the ATR is useful for the downside risk to protect your bad trades. It just seems that there are too many (money losing) trades as you can see in this video.
What would you do?
It seems you could any which way you would go concerning these combination of indicators. Someone even recommend Hull This was recommended within my private Telegram group:
For an idea of an exit, something I’ve tried in the past is using the Hull indicator set to a period of 2. When there is a large excess beyond something like a bollinger then that’s the end of a movement.
Here are some internal links to help you from this blog
NOTE I now post my TRADING ALERTS into my personal FACEBOOK ACCOUNT and TWITTER. Don't worry as I don't post stupid cat videos or what I eat!