I’d like to share a 5min strategy on this board as I’ve learned a lot from here. I’ve been using this with good effect
I was going to call it the "unlucky man strategy" as I’m the most unlucky bloke with money I know. I put loads in Marconi weeks before it went bust, I bet on Amstrad before it launched the disastrous E-mailer phone, I bet something will go up…it’ll go down. But I’m well in profit using this.
I’m not claiming this is original, the holy grail or anything, however if It has been done before I haven’t see it. OK, I’ll try to keep this brief and clear. The strategy is a simple PA one based around physiological numbers.
5min chart
Indi's: momentum, signal bar, sweet spots
Any pair (although I only use GBP/USD and EUR/USD)
SELLING: When the price is moving DOWN approaching a round number... let’s say 1.5100 (5100, 4200, 3700 etc...) note the momentum indi (Is it down and moving downwards, under 100) note Signal Bars are they all RED. If so wait until price passes 1.500 by 5pips or so then enter 4 SELL lots with a SL of 25.
First TG will be 1.475 (25pips) we then move the other 3 lots to BE SL, TG2 is 1.450 (50pips) move SL to 1.475, TG3 is 1.425 (75pips) SL moved to 1.450. Final TG is 1.400 (100+pips) or just let it run, SL 1.425. So basically we target 25pips each lot and protect profit by moving our SL 25pips each time.
Opposite for BUYING, momentum above 100 and going up (hopefully), Signal Bar all GREEN.
Ideally I would love someone to create an EA of this, should be simple for a programming mastermind.
If there's any interest I'll post indi's/template tommorrow and answer any questions (if i can
)
I was going to call it the "unlucky man strategy" as I’m the most unlucky bloke with money I know. I put loads in Marconi weeks before it went bust, I bet on Amstrad before it launched the disastrous E-mailer phone, I bet something will go up…it’ll go down. But I’m well in profit using this.
I’m not claiming this is original, the holy grail or anything, however if It has been done before I haven’t see it. OK, I’ll try to keep this brief and clear. The strategy is a simple PA one based around physiological numbers.
5min chart
Indi's: momentum, signal bar, sweet spots
Any pair (although I only use GBP/USD and EUR/USD)
SELLING: When the price is moving DOWN approaching a round number... let’s say 1.5100 (5100, 4200, 3700 etc...) note the momentum indi (Is it down and moving downwards, under 100) note Signal Bars are they all RED. If so wait until price passes 1.500 by 5pips or so then enter 4 SELL lots with a SL of 25.
First TG will be 1.475 (25pips) we then move the other 3 lots to BE SL, TG2 is 1.450 (50pips) move SL to 1.475, TG3 is 1.425 (75pips) SL moved to 1.450. Final TG is 1.400 (100+pips) or just let it run, SL 1.425. So basically we target 25pips each lot and protect profit by moving our SL 25pips each time.
Opposite for BUYING, momentum above 100 and going up (hopefully), Signal Bar all GREEN.
Ideally I would love someone to create an EA of this, should be simple for a programming mastermind.
If there's any interest I'll post indi's/template tommorrow and answer any questions (if i can
)
).