Quote:
Originally Posted by mastergunner99
Scalping is by far the most difficult style of trading to master in Forex.
You really have to know when price is going in your favor. And I'm fairly certain, you won't capture that market edge with lagging indicators.
|
Ain't that the truth! 5pip SL can work only if somewhere in those 5pips is a support or resistance created by the wick of a candle on a smaller time frame. Round figure S&R are valid, but there is always volatility around these numbers even if they do turn out to be barriers to price movement.
I never go below 10pips trading a 5min chart, so 5pips sounds best suited for a 1m chart. And it looks like you are trading a 15min chart from the image you posted!