The number one profitable trading strategy was a[B] 5 day[/B] exponential
moving average going long on the [B]5 day[/B] price crossing the EMA, and
selling short when the price retraces below the EMA.
I’ve been scalping off a 5 minute chart. Since I started keeping track of my stats here’s what I have:
Wins - 24
Loses - 11
Win Rate - 68.57
Pips Won 240
Pips Lost 157
Now I’m just trying to figure out what’s the best money management strategy. Right now I’m doing a 10TP 20SL. And please, if you’re just going to reply based on the assumption that the current setting is a failure, don’t. When you figure in winrate and size of position, you can come out ahead despite.
I’ve been working with a system called the 4xrazor and it has been treating me well. It uses a minute and five minute chart and four indicators, the macd, rsi, stockastics and ADX. It’s pretty simple and i’m in and out in less than a few minutes.
Feel free to make use of the very recommendation you give to us all so freely.
A simple google search will expose that poster’s intentions for what they truly are.
Guns,
That is not a good scalping system I say aim for less pips and pull that SL in a bit. What is the exact setup your using. I can try to help you out a bit. But 10 pips is kinda large goal to scalp.
I dont recommend any TP or Sl thats up to you to decide whats your risk levels and profit levels. Now I can tell you what I use on different currencies but that my own personal preference.
My apoligies. I dont use the H-line trading but 10: 20 is extreme. 10:15 might be the max I would go. Its up to you dont make yoy stops too tight though. On the Euro Usd I mostly use a 6: 8