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DislikedHugh - as we have been talking it appears the longer time frames work better (so far) with this strategy.
How about looking at a 'scalp' on say 30 or 15 mins where the stop is set at 75% using much smaller swing points.
Obviously this means the R/R ratio will be much lower (which is usual with scalps anyway) but it should give the trade more 'wiggle' room.Ignored
DislikedI only started this thread a few weeks ago but already it has evolved into something better. The basic idea is the same, we're going to use fibonacci retracements to enable us to buy/sell into the trend when the momentum is moving back in the direction of the trend. We're also going to use the 38.2% fibonacci extension as a profit target.
When I started the thread I had the idea of using a 100 sma to define the trend and then only take trades in that direction but I found that this is too restrictive and a lot of profitable trades were being...Ignored