DislikedHey Laura, Thanks for sharing this system. I love scalping =) Wanted to ask small question. So how much daylight do you want to see on williams? Sometimes there is almost no daylight for the best entries to take. Do you ever switch timeframe to 5 minutes? Or you are always stick to 15 minute time frame and not flipping timeframes for other confirmations? Looks pretty good. Do you try to TP 1:2 risk reward as well? Or TP is more about you feeling of the trade and PA?Ignored
In numerical terms, the difference between the 8 SMMA and 21 SMMA should be around 4 or more. That should allow just enough daylight to avoid lots of false signals and hopefully also allow you good entries.
The way the strategy is designed, it will usually miss the start of a trend. This is deliberate as we want a bit of confirmation that a direction change is happening before we enter.
For forex I prefer to stick to 15m+ but you can certainly try 5m and see how it goes. If you do, please let us know. In terms of multi-timeframe analysis, none is required. Best to take the signals based on the timeframe you are trading.
I don't subscribe to the Risk Reward model. A positive RR can result in a losing strategy in the same way as a negative RR can result in a winning strategy. What I view as more important is win rate, average win amount, average loss amount and profit factor.
In terms of how and where I take profit, it's based on various elements. Market structure, amount of profit relative to ADR etc etc. Every trade is unique in that respect.
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