Another Trading Day
After a day of several losses yesterday, I did some more revising of this idea. The same basics apply, but now I look at shorter time frames to time the entry (sometimes as short as 1 minute chart). Each of the charts have the same feel, in that you can see the waves, red to blue and back. Also, even if every chart from 4h down to the 30m show all four sub times as red, if the 5 min and/or 1 min show half blue, the trend is obvious (very short term) up. I follow this up-turn the same as on the main chart with the BB. Even though it's ultra short for a 4 hr chart, I don't want to enter on an up swing on the 5 min. If I wait for the "peak" and enter a sell there, there's less chance of my SL being hit. Using this revised system this afternoon (Mountain time in U.S.) I placed 9 trades ending with 7 wins, 2 losses for a net gain of +178 pips in about 1 hour. Doesn't seem too shabby to me.
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