Tuesday, September 12, 2006

Thinking about a trade system.


I am going to start by testing a system in which I wait until the EURUSD or USDJPY (both 2 pip spreads) is trading inside the bollinger bands and the ADX is low (indicating a non-trending environment) when the price is near one extreme of the bands I will take a position in the opposite direction (i.e. the price is near the top band, I will got short) placing a TP before the opposite band and a SL just past the nearer band.  I will begin to report my progress starting tomorrow.


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