Just beware of fake signals hehe......

And remember, the candle needs to close first b4 entering

I don't have that. Btw you don't need EA for that unless you have trouble checking the charts once a week for 5 mins.



Backtesting is testing the system using previous data step by step.
You can make a program that does the trading for you 24 hours without supervision. It buy and sells on your behalf. That's auto-trading.

Thanks for clarifying.

Btw, based on your previous graph, that's from MT4, right? For the lines, can Marketiva do that too?

Marketiva can do that too ... if you find a platform that can't plot moving average, throw it away .

This post has been edited by luqmanz: Mar 20 2007, 02:24 PM

Oh, that's average? What's EMA then?

Moving average got many types. You need to use EMA.
There are WMA, SMA, etc etc .... use EMA.
Exponential moving avg.

I see.. I'll try it next time, thanks

Interesting ariticle found on the web.

USD - Groggy but Not Knocked Out
Recommendation

We recommend investors to keep cool with respect to the future value of the dollar
The dollar is shaken but not knocked out at the moment. Instead it is bottoming out against EUR and DKK
Even if the much-feared slowdown in growth in the US materialises, the dollar will win the battle, when the turbulence has settled down
The market is reckoning without a host
The air is thick with dollar pessimism these hours and days. Everybody is falling over each other (we mention no names) to list all the troubles which will inevitably end up with a new major weakening of the hard-hit dollar. But - and there is a major but - when all those prophets of doom will announce their judgement. They simply fail to see the historical fact that the dollar is and remains anti-cyclical. In other words, they are about to reckon without a host, even if they should prove right about their anticipations that the American economy is quickly heading south with resultant declining growth.

Market participants already expect the Fed to lower interest rates three times over the next 12 months, which has been one of the major reasons for the latest sales pressure on the dollar. But if the Fed decides to use the interest-rate weapon to ensure growth in the US - we do not expect so - but if so, history shows (e.g. in 1998 and 2001) that the dollardoes not weaken sharply as expected by market participants. Instead, the dollar turns around with a resultant nice strengthening. At first this is in conflict with good logic, but at a closer look it is quite evident. First and foremost, an economic slowdown in the US will force many American investors to withdraw many of their (very huge at the moment) foreign investments in order to cover the economic gaps, which means that the Americans themselves contribute to strengthening their currency through simple repatriation. Furthermore, a sharp slowdown in American growth will lead to a lower trade-balance deficit, which will imply a lower sales pressure on the dollar. Thirdly, it is very important that the dollar is and remains the No. 1 reserve currency in the world, notwithstanding the much-mentioned economic weaknesses. During periods of turbulence in the global financial markets, many market participants choose - whatever imbalances and interest-rate differentials - to invest remaining funds in the American dollar.

Those who currently have a bearish view on the American economy and not least the dollar should therefore be very cautious to neglect history and the anti-cyclical status of the dollar. The dollar is taking a beating right now, but as we see it, it will not be counted out!

I mean expert advisor for backtesting and forward testing . Can mod this one?
http://www.forex-tsd.com/92851-post1.html


This post has been edited by whtrader: Mar 21 2007, 10:51 AM

I think such EA will be hard to program because it depends on the visual to make the call. Not pure "is value X > than value Y" kind of thing.
Perhaps that's why many people throw away their MA system after it fails the EA test.

This post has been edited by luqmanz: Mar 21 2007, 11:37 AM

You mean like this?

Yaa .. the famous sideway market that generate a lot of bad signals.

Instead of relying the those technical analysis, i think it is better the understand the currency pair behavior(Once u watch how the market move for sometime, u can pretty much guess where it will go), use the good old trendlines, support resistant, candlestick. These are proven to be more accurate.


EDIT: Update as at 8am. This is a pity, FOMC drive EUR/USD up 100 pips and thanks to my take profit. i took only 36pips 3340 resistant level while i sleeping. What a pity! Next time I might consider set my TP higher. Take profit feature, a good way of taking away your profit.

This post has been edited by billytong: Mar 22 2007, 08:11 AM

You are right, very difficult to trade under such condition.



In this case trailing stop comes to mind.

what the heckl~! I woke up and poof the market shot up! DAMN!

And I was shorting the pair... T_T

This post has been edited by ThanatosSwiftfire: Mar 22 2007, 09:53 AM

hehe I don't have take profit, just use trailing stop loss.

---

Added on March 22, 2007, 10:09 am
I hope your SL protected you. I entered long the yesterday's morning. Gonna sit in this for quite sometime.

This post has been edited by luqmanz: Mar 22 2007, 10:09 AM

luqmanz, Oanda does not have trailing stop. I wasted 200 pips in 2 weeks.

I move my trailing stops manually.

Try looking at forexfactory.com calender.

Today at 2.15am was a MAJOR news.

So staying up for the news was important. If not put tight SL .

Hope you learnt a lesson.

I do move my stops to breakeven after >10 pips gain if I'm monitoring the index.

but u cant expect Billy to check forex 24/5? Dont you? Billy was in his nice bed last night 2am.