DislikedTo train myself and to get more confidence while trading I'm analysing history (trying to be as objective as possible though remembering it's never equal to real-time trading). So far I've got analysis for EURUSD for October - see P.N.5Min_October-07.doc (zipped doc file with 23 images). And here's some statistics for it (also can be found in P.N.5Min_October-07_Stats.xls):
http://www.imagehosting.com/out.php/...toberStats.gifIgnored
Well done - I can see you do understand the basic of this system. Now for the real thing. Once you understand the basics of this system, you need to see how the setups develop with the real price feed. The entry action is the second most important part of this system. It is not like the 4h MACD system where you know where to enter. With the 5min system, it is a skill one needs to master.
What I've done for a month was to open a demo account and just practise my entries when I think it was time to pull the trigger. I didn't worry about the outcome of the trade.
Looking forward to see your trades
Willem
Forex recipe for success = Patience, discipline & hard work.