Hi
First of all I would like to say that I have been demo trading DIBS method for several months. (http://www.forexfactory.com/showthread.php?t=86766)
I really like this system but wanted to create something that fits perfectly with my trading style.
So I came up with 5min IB Scalping. I've visually backtested it and traded it using demo account for awhile and the results are really good.
I'm targeting 10-20 pips per day so about 300-600 pips a month.
You only need one indicator StochHistogram.
The rules for entering are that first of all you look at 6 gmt candle and then if stoch agrees and you see an IB, the candle is above or below our 6 gmt open you take the trade.
It really is like trading DIBS but only shorter timeframe and one added indicator.
First of all I would like to say that I have been demo trading DIBS method for several months. (http://www.forexfactory.com/showthread.php?t=86766)
I really like this system but wanted to create something that fits perfectly with my trading style.
So I came up with 5min IB Scalping. I've visually backtested it and traded it using demo account for awhile and the results are really good.
I'm targeting 10-20 pips per day so about 300-600 pips a month.
You only need one indicator StochHistogram.
The rules for entering are that first of all you look at 6 gmt candle and then if stoch agrees and you see an IB, the candle is above or below our 6 gmt open you take the trade.
It really is like trading DIBS but only shorter timeframe and one added indicator.