DislikedIm worried..please dont over complicate a simple count with loads of useless indicators..you end up with too many conflicting signals
I have devised many system based on indicators none are as reliable as taking reversal 123 counts dont worry about leaving pips on the table the secret is not to lose the pips in the 1st place by over trading
pIgnored
QuoteDisliked"The idea behind it is pure supply and demand .. I know why its happening not that a stoch is just OB or OS"
So, I wonder....*IF* we have the wherewithal to look at other pairs beyond E/U and G/U (like A/U, USD/CAD, E/J, etc...), and if we "knew" our hit rate on those pairs was in the positive, and if our broker allows for scalable MM to achieve 5% (or 2% as pgpb suggested), would we not be best served scanning multiple pairs that have good directional bias for 1-2-3 opportunities?
Even at the five minute time frame, it is a situation where one quickly looks at the situation every 15 minutes or 1/2 hour, then goes back to what was being done beforehand (because using Paulus' rules, there will be at least five candles (25 minutes) between the formation of point 1 and point 3)...of course there is the notion of having to convert pips of the currencies to arrive at the desired MM...
It is kind of like playing online poker (something I have not done in a few years now...)...I knew players who would have something like eight games going at one time...some of them were quite good at it! Me, I could only handle about four games maximum, and I was "OK" at it...having looked at four pairs simultaneously, it is MUCH slower than playing four games of poker online....
Anyway, this is just more food for thought....I'm LOOKING at this as a possibility to make up for the fact I cannot watch the entire market...eager to hear comments!
Regards,
Jeff