This system works pretty well! I had 4/4 trade doing the 4min consolidation breakout strategy. Only problem is that oanda won't allow scalping even though this is a breakout/scalping system.
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DislikedThis system works pretty well! I had 4/4 trade doing the 4min consolidation breakout strategy. Only problem is that oanda won't allow scalping even though this is a breakout/scalping system.Ignored
DislikedRonald, scaling up, it will be difficult to get an "explosive" proportionate breakout. On the 5 sec chart a 4-5 pip breakout is instant... and you would be looking for a 30 pip instant breakout? When I look for the breakout, it happens in a matter of split seconds and that's what I'm looking for. You could almost feel the force pulling the price up or down...Ignored
DislikedTony, besides EUR/USD have you thought about trying other low spread currency pairs as well? If you have a good win rate which has been consistent over a lengthy period of time on EUR/USD then it could work just as well on other pairs too.
More pairs = more setup opportunities = more $$$Ignored
Dislikednot so fast...
not all currencies are the same. the virus is great for EURUSD because that is a characteristic of the EURUSD to go into trend continuation with a virus breakout....
but the same can't be said for USDJPY, GBPUSD, etc...Ignored
Dislikedhere's a free nugget (you can test it out yourself...)
these type of "virus" trades (as you call them) work better when breaking in the direction of the overall trend. i use an RSI(96) on the hourly timeframe to confirm.... +50 is go for long, -50 for shorts....Ignored