Dislikedcan you clarify please:
1.when the nonlagma is red and the nonlagma hits one of the red lines, go short
/or
2.when the nonlagma is red and price hits one of the red lines, go short
Thanks in advance
JIgnored
I use higher nonlagMA's for more volatile currencies like GBPUSD, and it looks like tomorrow i will be using an even higher one on GBPJPY. I use 12 on eurusd, eurgbp, usdchf, usdjpy, usdcad. 14 on GBPUSD. I will be using 15 on GBPJPY. You can change this on the length setting in the nonlag indicator and change color to 2.
you can also have the indicator alert you when a change occurs, which i utilize to exit my positions. Change the warning ticks to a high number like 1000-2000 or it will alert you every few minutes of the change. It gets rather annoying.
After that the only thing i do is implement a Dalambert Money Management system. Now I know that may not be for some people but it has worked extremely well for me for a long period of time, so please refrain from bashing me on the thread. All I can say is I am comfortable with it and it works for me.
For those of you who dont know what that system is. It works like this:
starting with 1 unit (your initial starting lots)
after a loss increase 1 unit
after a win decrease 1 unit
so like this
trade 1 = buy 1.0 lots loss (-$1000)
trade 2 = sell 2.0 lots loss (-$2000)
trade 3 = buy 3.0 lots gain (+$3000)
trade 4 = buy 2.0 lots loss ($-2000)
trade 5 = sell 3.0 lots gain ($+3000)
in this scenario you have lost 3/5 trades. Assuming an equal 1:1 risk reward ratio of lets say 100 pips - you have lost a total of 100 pips ; But you are up $1000 using standard lots. When you are happy with your gains then just start the scenario over, you dont have to ride the system all the way back to trade 1.
I personally believe in keeping tighter stops, moving to breakeven, and letting the profitable trades run. I hope this helps someone