How many candles should be used on a five minute chart to draw the trendline.. 100, 150, etc?

TEB.. have you found by your experience that scaling out of trades by taking a lot out at target 1, etc. is more profitable in the long run than the alternative of just moving stops up on multiple lots without scaling out?

TEB.. using the 5min and 30 min or 5 min and 15 min?

21 (close)

I focus on the 5 minute chart, watching to see when the 5/8 cross occurs and making sure, for example, if the cross is down, that the RSI is below 50%. I then use the 1 minute chart for entry at market, if likewise, the 5/8 has crossed or is ...

Thus far, just EUR/USD.

Yes David. My experience trading various short term systems has not been good with respect to winning percentage or pips based on using money management techniques that take a lot off the table at 10 pips and allow the other to do what it is going ...

FYI TEB.. Using 5min/1min, 2 lots, and 10 pip SL, and using discretion only with respect to exit.. ie.. staying with 2 lots and not using 1 out at 10 etc., my results so far.. 32 trades 27 wins Net pips = 167.5 Most consecutive wins 9 I'm using 5/8 ...

Teb.. The only problem I have is taking one lot out at 10 pips.. seems like when I have used this method, the overall % of the time that I get stopped out on the 2nd lot at break even is higher than if I had just stayed with 2 lots and either taken ...

TEB.. any idea what your winning % using this method has been over the years?

I waited until the 30 min candle closed (eur/usd), then entered a short on the open of the 5 minute candle. It retraced 7 pips and then went down, and after taking the first lot out at 10 pips, I used my own stop system and got another 22 pips on ...

TEB.. Do you wait for the 30 min. candle to close and then drop to 5 minute for entry?

Hoss, how far do you let pa run when it turns against you before exiting the trade? For example, let's say you enter and price action starts to go in your favor by 2-3 pips but stalls and goes back below where you entered?

Hoss.. I see you use TP of 5.. what is your stop loss? And.. Go Bucks!

Since all trades don't start off going in the direction you anticipated in order to make the 3-5 pips etc., how far in the opposite direction do you allow price to go before you determine that it isn't going to work and you need to bail out?

Mike.. with a TP of 3-5 PIPS, what is your SL?

The day trading and scalping sytem please. Thanks Mike.

Looks like an excellent strategy.. also looks like it would work on about any time frame down to even 1 min and save a lot of pips from being lost.

Acumen.. Could you post the thread which explains your system and the indicators. Many thanks.

So far I've had pretty good success using the trendline breaks in both direction on the 5 minute chart and validating the entry with a 5 ema cross of the 8 sma. Seems to work very well and looks like a decent filter.