Hello Edge,
I just got into this thread yesterday and liked your concept of scalping on the 5 min. timeframe. I downloaded all the initial indicators on the first post and copied the rules to OneNote. Have been experimenting with it to see how it trades. So far I like the results. Only have 22 pips for the day but screwed up some trades by not following the rules. My only thought on it so far is that on a day like today, and on the EY and GU movements, I would not set just a 10 pip profit stop. I think I would throw a 15 to 20 pip trailing stop on and let it ride. I will probably experiment with that in the coming days.
I've attached my chart setup. Hope it doesn't freak anyone out. I like to keep track of things.
Will focus on how it trades according to the rules tomorrow.
I just got into this thread yesterday and liked your concept of scalping on the 5 min. timeframe. I downloaded all the initial indicators on the first post and copied the rules to OneNote. Have been experimenting with it to see how it trades. So far I like the results. Only have 22 pips for the day but screwed up some trades by not following the rules. My only thought on it so far is that on a day like today, and on the EY and GU movements, I would not set just a 10 pip profit stop. I think I would throw a 15 to 20 pip trailing stop on and let it ride. I will probably experiment with that in the coming days.
I've attached my chart setup. Hope it doesn't freak anyone out. I like to keep track of things.
Will focus on how it trades according to the rules tomorrow.
4XTrader2