February 27, 2019 4:09 am est
by Tom Kadale, Contributor Market Analyst
for newsmovesmarketsforex
Looks like FX is rising from the doldrums of last week. This morning a BUY signal for KIWI (NZDUSD) came in. I did something slightly different that subscribers should heed. This signal came in from one of our test systems (HP1), so some of you may not have received it. Nevertheless, it will help to demonstrate a slight modification to our Rule 48 system.
It’s nothing dramatic but worth noting. Here’s what I did. First, I calculated by Trading Intuition Score, which came out to 37. This number gave me my optimal Market to Limit ratio of 3 lots at the Market and 7 lots at the Limit. Next I placed my 7 lot LIMIT order using the levels provided in the signal. This time, instead of placing 3 lots at the Market,
I’m finding it more effective and fun to average down 1 lot at a time. The rule to follow is always make sure that these Market orders are entered between the suggested ENTRY and the LAST quote or close. As you can see I didn’t do too well with the first two orders, since I was in a hurry and misread the quote, but you get the idea.
The third one made up for my small error. It’ll take some getting used to but worth the effort. After a few hours, this trade worked out as predicted. …another no brainer trade!
From the RagingFX Trading Desk…
Tom Kadale, Forex Algorithm engineer RagingFx.com
and Guest Contributor Market Analyst
forNewsmovesmarketsForex
