The answer, appears to be, no.
Down 26 pips so going to have to wait for the long run on this one. Experience says, write it off and forget about it. If it goes the other way and I make a profit that is now a bonus. I only have a 30 pip stop loss.
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Today’s totals for AT -$50.
Boo.
Learned the same lesson twice today. If I had stuck to the 1M time frame I would have made money instead of losing it.
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@AmericanTrader the most important thing is you have learned the lesson, always stick to your strategy.
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I’m riding Eur/Jpy up on the 1M.
Changed my I Compass setting to 50 on 1M
Win. 7 pips.
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So the DXY is very strong following poor data from the US which strengthens the argument for a 50 bps hike, Fed speaking at 13.30 and expected to be hawkish. So potentially more pain for the euro from 13.30.
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Beautiful 20 pip sell.
Another question, I am seeing that some have different settings and pairs they are looking at. Could we get an update of what settings you are using for what pairs and what pairs you are trading? I struggle to know when I should take a trade when the indicator pops up.
@huntleyalan
The strategy is for Eur/Usd using the settings at the beginning of the forum thread. 5M, EMA channel at 32. Yellow ema at 14. White ema at 6.
Some have expanded to using other pairs using the same settings.
I find myself more drawn to Eur/Jpy on 1M timeframe using 80 for channel emas and 20 for the “Yellow” ema. I add an indicator on MT4 called I Compass (the line that changes color when trend reverses) set at 50. PSAR set to your preference.
There should be indicators on most platforms that do what I Compass does. On MT4 these is also, Follow the Line, and Direction Line, and probably SuperTrend.
I am finding value in having at least 2 pairs to trade with, if you are comfortable with a 1M timeframe. Since I often trade from my phone while working, I have the charts set up for my 1M trades.
Hopefully you will get some additional responses from members who are having good success, maybe using some other settings.
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AT what is your day job? I’m a self employed electrician in London, UK, and I find I can trade around this job pretty well because I’m my own boss and I work on a price for the job, rather than an hourly rate so as long as the job gets done it doesn’t matter if it takes an extra hour a day and the client won’t mind me being on my phone for a bit as they are not paying for the time, but the job
And have you managed to get yourself back to the place you were where you lost money previously? You mentioned it in another post previously. I hope these 5 and 1m strategies have got you where you want to be buddy!
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@Neddyboy50
Thanks Neddyboy50.
I did get most of it back yesterday. Still a good winning week. I was mad at myself for doing stupid things Thursday that made me lose out on 20 pips in the morning so I tried to make it up later in the day by forcing trades. I deserved what I got.
As for work, I have 3 companies I contract with and they all do a variety of jobs. One is inspections and inventory. The other 2 work with banks and credit unions and I inspect homes and businesses for them. Verify occupancy, and whatever else the client wants.
I travel up to 100 miles in any direction as I have my area locked down as the only independent contractor they can rely on. Some days I do up to 20 locations. Some days its just 2 or 3. The jobs usually have a due date that gives me a few days to complete them. I can accept or reject job offers at any time and there are enough jobs available that I could do 20 every day if I wanted.
So I drive for an hour, on average to my first location of the day and often up to another hour between some of the other jobs for the day. Its a lot of miles on the car so I switch cars from my economy to my all wheel drive in the Winter.
Have yourself a great weekend!
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Nice, sounds like you can fit trading round the job then.
Know what you mean about revenge force trades. Never a good idea
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Are any of you guys interested in the settings that I have been experimenting with the Lorentzian Indicator, the lookback bars are 2000 and 3000 on these pairs? Each pair has been optimised by hand to suit the pair, it has taken me all weekend so far 
This is very much experimental though and has not been tested at all, I have no idea which signal you would follow on these charts, I suspect the dark colour signals or you take a judgment call based on higher time frames and trends?
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I had a right terror day on my hands on Friday. It all started when a buy order on the EUR/USD went in overnight at 1.06555 and before I knew it it was heading mainly downwards and it had one moment where it spiked up just over my price and what did I do, I stayed in and then it went hurtling down to 1.06149, just before that I got out of my trade with a 30 pip loss. Then I was scalping like mad and making even more losses in every trade I went into and then what happened the whole thing reversed back to where it started throughout the day. I had not even realised it was in an reversal uptrend as I was too busy focusing on the 1 minute timeframes.
Lessons again relearnt, don’t be greedy and don’t break with your protocol of not checking higher time frames to gauge the trend. Don’t leave orders in overnight. Don’t do revenge trading either, if I followed my own advice I would be a forex millionaire by now? And always use a stop loss too.
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Lessons are like a kick in the pants.
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Clearly there was zero interest in sharing my settings above for the Lorentzian Indicator?. You’ll all be really sorry when I have made a million dollars by the end of the week scalping with my 0.10 lots
Well I will be testing it anyhow with real money and will let you know if it stands up.
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I am really keen to know please