strewthmate,
why don't you do your research on the boards and see for yourself for how long Teb has been posting MTF systems. They are all similar and still working. That should give you an idea.
The MAJOR idea here is lining up the timeframes, so that you see the indication of the same direction on more than one timeframe. It does work. Only problem is using lagging indicators, you will always miss a little junk of a move. Which is not a big deal, and sometimes prevents you entering a bad trade, so may be shouldn't even be called a problem.
One idea for knowing when to exit the second lot could be to add MACD (I use MACD-2 in custom indicators) and to look for divergences. Once you spot a divergence, you can exit your trade. I use candlestick formations for tuning the exit (just a personal preference).
why don't you do your research on the boards and see for yourself for how long Teb has been posting MTF systems. They are all similar and still working. That should give you an idea.
The MAJOR idea here is lining up the timeframes, so that you see the indication of the same direction on more than one timeframe. It does work. Only problem is using lagging indicators, you will always miss a little junk of a move. Which is not a big deal, and sometimes prevents you entering a bad trade, so may be shouldn't even be called a problem.
One idea for knowing when to exit the second lot could be to add MACD (I use MACD-2 in custom indicators) and to look for divergences. Once you spot a divergence, you can exit your trade. I use candlestick formations for tuning the exit (just a personal preference).
Trax Tibidax Tibidox...