Tuesday, April 28, 2009

discussion with Andy about the EA / turn it off or on

There seems to be a lot of discussions on on/off when and what... Here iswhat I have on the wall... As MY rules..
lets give a concise idea in my book...
12) IF the pair is OUT of RANGE -----look at day and 4hr, if it is a retracement, or looks to consolidate overnext few days because of that, then , you can turn it on. or wait another4hr period and recheck.....

2) IF the pair is out of range, and it is TRENDING.LEAVE IT OFF. till you get a retracementthen refer to 1.

3) if it is in-range and fundemental news is to be announced, -- SUSPEND ITtill afterwards and you know the fall out.

4) if it is in range, and been making trades for 2--3 days, start SUSPECTINGIT... IE it will NOT rest forever

5) Lots /Leverage, -- DON'T CHANGE LOTSIZE unless you can afford to lose 200pips * 5 (average) and DON'T CHANGE LOTSIZE unless it is in a TREND andlooking to start another consolidation segement so you can max into new lots
Andy <> Stapleton
www.eaFXTrader.com