DislikedHi Dave,
Im the same had all positions closed out for a small loss so far. The frustrating thing for me is that often if I had just traded the 4hr or 1hr charts with hard stoploss most of my trades would of survived. Its the random fluctuations that get you on the 5 min timeframe. The reason I am persevering with the smaller time frame is that once I get some consistency it will offer me far more options. I can move up to the higher time frames but if I want to smooth my equity curve by making a few extra pips I can drop down to 5 min. If you know...Ignored
Yours and previous posts show the variety of traders here and what we look at;
It would be interesting to know how many monitors Graeme is using; I found last week that I am too busy looking at two currency pairs on a 5 min TF to take in much else . Just looked at the stats on my positions and for the record have had 75 trades
Losses 37 - about 800 pips - too much!
BE - 21
I closed some fully and rest partially - (decided to diversify Friday closing time to keep my balance static.)
Currently 5 runners of half positions on 4 pairs - + 1200 pips. So could be +2400 with a drawdown of 800.
Learned much AND made some money - hopefully.
Have more than double that on my practice account, (using 'blind' daily technique on 12 pairs), with a drawdown of over 1000 pips.
If I remember Graeme mentioned in prior posts that he had 1400 and 2000 pip losses as a result of sloppy trading; so we must expect at least that at this stage.
Cheers
Ray