Sorry all to hijack this thread, but I would love to get in touch with you via e-mail. As you said, and I know, using someone else's strategy is a terrible idea, unless you can understand it. I began in forex about 6 months ago (from futures), and have been using the DMI w/ ADX the whole time with
demo trading. I had moved to live trading, and yes, I can make money! My problem is in optimizing the trades. I know you used to use this same indicator for trading, and if you could maybe e-mail me at --jeffstone -at- golden.net I would love to talk. I am just having a hard time actually putting my entry/exit criteria on paper. If you could give me some ideas on what you've experienced as good limit and stop-loss orders on entry, it would be appreciated. I have been playing around with things such as:
-Entry on ADX cross over from beneath of dmi line (hourly chart)
--and adx must cross over 20
---and adx must have came at least 4pts off low
Enter trade long/short:
target - 70pips
stop - 35pips
Please let me know what numbers you found work best, as I am having a hard time optimizing the exit for good returns!
Good trading!
ONTrader