Dislikedi should trade when the multiple weight moving average compressed and risking only 12 pips (resistance line at 97.73 - support line 97.61) either short or long direction
http://img27.imagefra.me/img/img27/2...bm_0276b49.pngIgnored
Dislikedi should trade when the multiple weight moving average compressed and risking only 12 pips (resistance line at 97.73 - support line 97.61) either short or long direction
http://img27.imagefra.me/img/img27/2...bm_0276b49.pngIgnored
DislikedRichard, so do you prefer using the rainbow with many colors over the rainbow with only one color? when scalping with big lots which timeframe do you trade? And I'd like to know the money management rules that you use.
Thanks,
SibaroochiIgnored
DislikedCorrect, for my eyes I like the many colors as there are specific patterns I look for that the colors help show. I trade with a 1tick and 10sec chart. 1tick for precise entry, 10sec for overall direction looking for the setups that give more pips. My money management is not what you will normally find here because you cannot accurately calculate R:R (risk reward) that most refer to on this forum. For me, when I enter a trade I know my max loss before I take it, usually nearest S&R level on 1tick chart, if that level is more than 5-6 pips away I...Ignored
DislikedMike, Do you primarily use FXCM micro to do your scalp trading? Their site states: " FXCM Micro acts as a counterparty in FXCM Micro transactions and, therefore, acts as the buyer when you sell and the seller when you buy." How does this affect scalping? And do you use a platform other than fxcm's?.. metatrader or ninja? I downloaded FXCM's micro trading Station and noticed that the smallest time frame allowed is the 1 minute.
Also, you mentioned in your word doc that you trade 3-4 pairs using 30 sec Timeframe. Can I ask what those pairs are?
wondering...Ignored
DislikedCorrect, for my eyes I like the many colors as there are specific patterns I look for that the colors help show. I trade with a 1tick and 10sec chart. 1tick for precise entry, 10sec for overall direction looking for the setups that give more pips. My money management is not what you will normally find here because you cannot accurately calculate R:R (risk reward) that most refer to on this forum. For me, when I enter a trade I know my max loss before I take it, usually nearest S&R level on 1tick chart, if that level is more than 5-6 pips away I...Ignored
DislikedRichard, are you trading live with this strategy? When you mention seeing patterns that the colors help show what do you mean? Are you looking for compression in certain colors? flip overs?Ignored
DislikedI use WMA's 1 - 156 with 4 for spacing.
So when creating them it goes like this
156
151
147
ect.
Be sure to start with the higher number first because this way your lower numbers will be 'on top' of the higher. how it should be.
MikeIgnored