Good day fellow users of The Koala Forex System.
Much have happened the past few weeks. The EUR/USD saw many spiky momentum and long time users know that this is not very favorable for The Koala Forex System. Being a system for trend trading, long consistent trends are what this system look out for.
We must always remind our selves that this system is a system of patience. Users true to the exact application of this system may find only a few opportunities per week.
One immediate observation would be the usefulness of the 200 EMA as an indicator of possible support and resistance.
While the week was mostly in the no trading zone due to the apprehension of the Feds report on the economic stimulus polices, we did have 2 opportunities for harvest. The first was a minor 30 pips trade while the second had the potential to be a winner with the proper trailing stop loss.
I will like to take the opportunity to remind everyone here that it is crucial that you trade with a knowledge of the schedule of the upcoming economic releases. This is to have an heads up of possible spiky conditions, something The Koala System is not designed for. Furthermore, proper money management must be employed at all times so that any possible failure will not cause a crippling blow to your margin account.
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