Losses will be inevitable. The question is will it keep you out of a pattern of losing repetitively that wipes out your previous week's happiness. Or can there be made a loss tolerance quit time that works, ...
Trend Following Scalping Method (H1 & M5) 61 replies
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my new, Extremely simple, 2 indicator scalping/5min method 79 replies
DislikedNewyear, I'm definitely up on trying your 10 sec addition. I'm at the screen now but I'm distracted by Monday night football hoping my Broncs can pull out a win. I might trade a bit after or if not then US session.Ignored
DislikedPerhaps if one way or another, a trend is determined, trades set ups could be adapted for that. For example in this downtrend, whenever the 5m stoch is on an up wave, even if it has not reached the 50 sometimes, look for over bought areas on the 1m to enter with the trend.Ignored
DislikedI like that adaption.. show an example when you get a chance.. then I will have better idea .. I would rather we have a dynamic adaptable system.. if we never adapted during evolution where would we be
Thanks!Ignored
DislikedAnother thought, on the other hand, is to not try to make a ranging method into a trending method. Notice since about 5am EST the 5m stoch has never entered the overbought position. So a rule could be to stay out until the 5m stoch has given us a signal the other way. There would have been no entries since the first over sold signal after that.Ignored
DislikedYes that would work well.. I dont take many trades with this method unless the 5M is looking like its gonna turn in the overbought/sold area or is leaving one of those areas
the more strict we are I suspect the more probabilities in our favor,
did you say currently you have a 5 win 0 loss streak going? keep it up!Ignored
DislikedIf we can determine there is a trend, look at overbought zones on 1m. Nice entries.Ignored
Dislikednice tip for the 10sec. i have not tried but interested to see if this is still working for u after a few weeks/months, so I will continue to check this thread for updates. i am looking at some other systems/things/ideas, but plan to come back and give this a test as I use oanda and done a lot of 1m scalping, but not used the 10sec before - will test when I can. Good luck.
dazzIgnored
DislikedHello, I'm reading your discussion with interest. I trade using MT4. Do any of you know a way to get 10sec charts/indi's with MT4 (realtime obviously)?Ignored
DislikedThe indicators may need a litte bit of 'tweaking'; with the RSI I found median price as input and a period of 4 the most valuable.
Set up like this, the relevant levels are 10/90.
Also I combine RSI and the DIs into one window and size it up, to see every detail of the movement, as it is quite important to me.
And there is one more thing I found important:...Ignored
Dislikedhi m m m
could you elaborate on your method a bit more and what settings you have on the other indis you use ? how do you use them to determine entry exit ? some chart examples would be useful.
thanksIgnored
DislikedIf we can determine there is a trend, look at overbought zones on 1m. Nice entries.Ignored