Good day fellow forex trading koalas.
After a time of absence, The Koala System is back!
Apologies for the absence as the broker change to 5 decimal places turned my chart haywire for some time.
Looking at The Koala System’s performance for the last week, we had 3 opportunities and of which 1 could have been a big winner if the proper trailing stop loss was used.
While the reviews were absence for some time, this does not mean the koalas were on holiday! I will like to share some observations that i found out.
- It is a good practice not to trade in the early hours of Monday trading despite seeing good signals. Often they reverse, typical of early trading madness.
- The 50 EMA suggested by a user seems to be doing well. This is the forex community i seek to build and i am very happy! Forex traders helping forex traders 🙂 The drill is simple. If the koalas indicate a sell but the 50 EMA is not sloping down ( IE in the direction of the intended trade, stay out ! ) If you observe the above chart carefully, you will notice it did help prevent a few tragedies from happening 😛 It is the brown indicator.
Folks, next week is the week after the Euro Bank Stress Test results and hence i urge and urge you to trade safely and patiently. Remember, The Koala System is never about quick bucks but rather a system of slow consistent winnings.
For folks just joining us, you can view The Koala System rules here.
See you soon 🙂
If you are on Facebook, i urge you to join TheGeekKnows.com page. Discussions on forex concepts, ideas and trades can be found there. It is a helpful community page for forex that i created and it has over 500 participants now 🙂