DislikedGlad to hear my method has been making you money all these years! I've been toying with a new system to scalp the 1 minute S&P 500. Looks very promising so far. Chances are it will work for Forex as well. I'll keep you all posted if all goes well.Ignored
I have not read all this thread but enough to know it has gone the way of most threads, that is, too many people adding too many FILTERS, too many people trying to trade it on the WRONG TIME FRAME
IMHO, this method works like all methods, it works SOMETIME, same as my opinion of indicators, they all work, but not all the time, only SOMETIME
Anyway, never to late to resurrect an old thread, almost 2 year anniversary; so what is the right time frame? I reckon 4 HOUR
I found this as I have been using 5 EMA and 12 EMA as part of another analysis method; no magic in those numbers, probably any EMA will work
Also, I wanted to DEMO a new broker, OANDA as I see they are in Australia, so far so good with signing up, emails, etc. (not funded live yet)
The only other FILTER that I would suggest is to add the 200 EMA - just as a precaution or confirming the major trend
You can trade away from it, best method, or trade towards it, just adjust your expectations, depending on price action at the time
Here is an example chart that would make your trading year, let alone trading day
I only entered yesterday, but you can see, the setup was 2 weeks ago, sticking with it, adding on, easily increase your account
Approaching 800 pips move in case you're not great with maths
If you trade like me, you'll be homeless and broke within a week.
Goldilocks All Time Return:
2.6%