Registered: Aug 2011
10-17-11 10:15 PM
Quote from elcowen:
Does anyone trade by buying the new highs and/or selling new lows on a 30 second or 1-minute chart?? I did some back testing and it looks to be fairly profitable scalp play. Just curious to see if anyone has experience with this.
Example: Wait 15 min after open, buy new highs with a 4-5 tick trail. It only looks to be profitable between 9:45-10:30 am EST.
I have not found a way to stay out of false breakouts. Any suggestions?
Hey, whats up ?
Did you meant how many floor traders do not trade this scalping style ??? I dont know ??? Thanx...
To avoid false breakouts, you must watch the price in the overall context on all chart timeframes....regarding to support/resistance...and probabliy market turnpoints....
or, you will never understand to pick tops and bottoms correct with a high win rate !!!
Its not easy, but it can be done !!!