Looking for Feedback on my Money Management Approach

Half right, Phil. The four charts are all of the EUR/JPY, screen-shots taken simultaneously at about 6:30am EDT today.

The charts are:

[B]D1[/B] ---------- [B]M15[/B]

[B]H1[/B] ---------- [B]M5[/B]

I started off just like you, George. Watching the lower timeframes was fun and exciting and I loved it! My only problem was that I could never make any money doing it. :slight_smile:

I’m not saying it can’t be done!! I know people that make good money scalping 1 and 5 minute charts. It’s like Clint said, you just have to find the trading style that’s right for you. It turned out that trading 4 hour charts was my thing, but it may not be yours.

If you want a good fast-paced trading system go to over to the forex4noobs.com forums and look up Furious Angel’s scalping method. I’ve never traded it myself but I know a lot of guys that do and they swear by it. :slight_smile:

That just goes to prove our point. I’ve logged thousands of hours in front of forex charts and I can’t even tell the difference between the timeframes. :slight_smile:


Go back to my ugly charts and look at the lower right-hand (5-min) chart, and the upper right-hand (15-minute) chart.

Cover up the left two-thirds of the 15-min chart with your hand, and compare the right one-third to the 5-minute chart directly below it. Can you see that they are same except for the detail?

Each candle on the 15-minute chart consists of the data from three candles on the 5-minute chart.

The M15 Open is the [B]first[/B] Open of the three M5 candles. The M15 High is the [B]highest[/B] High of the three M5 candles.

The M15 Low is the [B]lowest[/B] Low of the three M5 candles. And the M15 Close is the[B] last[/B] Close of the three M5 candles.