Sunday, May 07, 2006

The Greenback has seen brighter days

So I got my new account and configured everything in my trading tools to run my system automatically (I use Metatrader 4). Lately the dollar has been just plummeting! Ever since the drop that took out my account two weeks ago it has been inching lower and lower every day. The Yen is loving it but since the market is trending nicely my strategy is not really working out so well. I need to set up my other system that handles trending markets so that I don't get the mickey taken out of me by the market when it starts to make a long move.

On my daily chart, the moving averages are neatly crossing over the MA(200) one by one so I don't think this trend is going to stop any time soon; at least not until the last of the MA's has crossed.

If this downtrend continues until the end of the week I'll stop my "bi-directional" system while I wait for the market to go into consolidation.

In the meantime I'll try to get something running in the next week or so using my trending system. I'll also post the rules of my bi-directional system for anybody brave (or stupid) enough to try running it.

I've posted the full summary of my first account information on my website for those who enjoy reading account statements.

0 Comments:

Post a Comment

<< Home