DislikedWell you must be better then me, took me 7 years to make my 1st million and lost the 1st 3-4 trading and reading 14hr days fulltime w/o a job.Ignored
My point was about jumping into conclusions (I did that too when you first mentioned M5 - my apologies ) In "The Market Wizards" every trader had different approach, but they were all mega-successful. Some people hate Fibos, some people trade (profitably) nothing but Fibos.
There are useful principles/guidelines, then we are on our own. Each one of us has his own style, his own agenda.
Many people think that even occasional risk of 5-6% on a single trade is crazy. But then many people think trading M5 (or taking just 10 pips where the move could be 100) is crazy too (again, I made a "crazy" comment M5 before - and changed my mind having considered the "evidence"). Go figure...
One Chart is Worth Ten Thousand Words.