Last week’s price action was very hard to trade. Renewed fears from COVID-19 have made price extremely rangy and whipsawish. We needed to make adjustments to our trading methods due to extremely risky markets.
It was a very hard week to trade. Renewed fears from COVID-19 suddenly broke live in the newswire.
The big problem for traders was which happened during June 8, the first trading day in the week. On June 16 Beijing raised Covid 19 response to level 2. According to Forexlive.com Beijing city officials advised people not to leave the city unless necessary. People leading the capital should have nucleic testing results. They will not ask companies or factories to stop work but will encourage work from home. Additionally Beijing was to shut all schools amid coronavirus resurgence and to resume online classes for all grades,
This has caused massive panic in the markets where the most of our losses continued to June 17.
See the screenshot (above) of the new CAMMACD.EA template and don’t forget to check myfxbook Live Account (Verified). *DrawDown is from profits, not from the deposit as 90.000USD profits have been withdrawn, so I’m trading with 10k only.
Due to extreme uncertainty in the markets caused by extraordinary world events such as COVID-19, I needed to readjust some of the methods that I have been using successfully. After 3 weeks of thorough testing, the new CAMMACD.EA template is ready for action. I have combined ecs.indicators with the MACD and so far results have been very good in all market conditions. I plan to use it further on both the LIVE account and ecs.LIVE service. Without adapting it’s impossible to be profitable.
Cheers and safe trading,