I came across Trend Following about a year ago and realized it required due diligence. I have been studying Michael Covel’s Trend Following and find it very fulfilling. I use MetaTrader4 because of its old school charts. It has an indicator called DSL_DMI Oscillator, I didn’t catch who created it but assumed it relates to Direct Marketing? It seems as though it passes a lot of uptrends, but I’m also aware a lot of trends are really down trends.
If you could check out the indicator and send me some insight about it.
You don’t need an indicator. You need:
• Exact rules for selecting your tracking portfolio.
• Exact rules for entering your trades at the right time.
• Exact rules for exiting your trades with a loss.
• Exact rules for exiting your trades with a profit.
• Exact rules for how much money to bet on each trade.
If you don’t have that? You don’t win. Read.