hello, i have been daytrading(perhaps some people would call it scalping) the EURUSD 1 and 5min charts during the london and US session for a couple weeks now pretty successfully.
my technique has been to use predominately price action, and i also throwup a Bollingerband set to 13 EMA and then i add a 9EMA and a 5EMA which i use to trade pullbacks and makesure i am on the right side of the trend.
i also have been trading chart patterns, Trendline breaks and Support and Resistance.
i usually make between 5-20 trades in a day.
i have tried out a couple other indicators like stoch and MACD, but really havent got any benefit from using them.
basically, what i wanted to know was how many people are sort of daytrading the 1 & 5Minute charts using discretionary tactics?
what kind of methods are you using and do you have any links to literature or pics you can post of some trades?
it is 2:46AM right now, and i should really head to sleep becuase i dont want to get into the habit of staying up so late concidering i wake up at 5am monday-friday but i was hoping to get a discussion thread going where we could share ideas and stuff, and tomorrow i will start it off by posting some charts of the trades i took this week
my technique has been to use predominately price action, and i also throwup a Bollingerband set to 13 EMA and then i add a 9EMA and a 5EMA which i use to trade pullbacks and makesure i am on the right side of the trend.
i also have been trading chart patterns, Trendline breaks and Support and Resistance.
i usually make between 5-20 trades in a day.
i have tried out a couple other indicators like stoch and MACD, but really havent got any benefit from using them.
basically, what i wanted to know was how many people are sort of daytrading the 1 & 5Minute charts using discretionary tactics?
what kind of methods are you using and do you have any links to literature or pics you can post of some trades?
it is 2:46AM right now, and i should really head to sleep becuase i dont want to get into the habit of staying up so late concidering i wake up at 5am monday-friday but i was hoping to get a discussion thread going where we could share ideas and stuff, and tomorrow i will start it off by posting some charts of the trades i took this week