I really need some help here. I can’t seem to do anything right. No matter what I do I end up scalping. It’s driving me insane! My interest in FX came about because of the ability to trade around the clock. I’m not sure if I’m just not trading the right pairs or what, but it doesn’t seem to be working! I’m GMT -8 (PDT) so waking up at 5AM for London/NYC…you know. I was messing about in the 5Min. timeframe, but I seemed to get whipped around on a lot of false signals. After reading about the cowabunga system, I decided maybe I should try the 15min time frame. However, it seems every move or signal from any pair happens while I’m asleep (PDT).
What pairs are best traded after the sydney/tokyo opens? While I'm working on alerts for the cowabunga system across a couple pairs, I have been trying to trade the 15M(Actionable Timeframe)/1H/5H with the Ichimoku cloud. It seems there are valid signals as it is a moving average trend following system, it just seems like I'm not there for any of it! It seems you can make a simple trend following system with just about anything if the volatility is there. Bollinger bands alone or even a Keltner Channel could do well during trends, BB probably better off during ranges. Anyways, I'm losing my mind. I'm only risking 1% of my account but that works out to be scalping my butt off for $5 here and there. Not worth the risk! Someone please intervene and guide me here! Thanks in advance.