What I am trying to do is find a system/strategy which has high probability of success on scalping the 1M / 5M chart.
Any currency chart will move 40 to 60 pips during the London session on a normal day, I don’t see why I cant get 15/20 pips everyday with high success rate and low draw downs (less then 10 pips). If that can be achieved then the lot size can be increased dramatically.
As you can see I have tested many indicators, the problem is the more indicators attached to a chart one has fewer perfect trade setups, some days don’t get any. Also with Indicators by the time they draw and a trade is opened the price is usually hitting some S/R level so most of the time there is an almost immediate draw-down.
I’m sure everyone has had it when they open a trade and the price reverses immediately you feel like someone is watching you, but that is the issue with indicators they are all lagging based on Previous candle High Low Open and Close or some Moving Average.or worse based on a different indicator.
Still trying wont give up, wish me luck
Note for your scalping : I will confirm that I have the highest scalping success during the open of London and USA when the liquidity is at good level.