I tend to sit at my computer all day so scalping does suit me. But thank you so much for the information you have given me on EUR / USD - i think i will try to let my Profits go on a bit. I just think that as soon as i leave my PC it will hit my S/L and i will lose out!! Maybe i should trail my Profits? with a 10 - 15 pip stop loss Thanks for all your help guys!
Hiya, My average Stopl loss is about 18 pips away. is that to less or is that to much? Which 2 pairs of cuurencies are the best to trade with.
The way i tend to trade is by using your strategy on a 10 or 15 minute chart. Go long when MA 50comes down from top and go short when MA 50 crosses it from below. is it advisable to use a 10 - 15 minute chart for your your strategy. To scalp. Appreciate the help
hi baruch, maybe he is talking about crossing ema and sma or wma of the same period? it would be great if we would work on a system toghether here, for me the only challenge is that i dont have intraday data in my trading system software for eurusd and the others. i think a daily system is not what i want to do on currencies. but developing a system that is completely mechanic and thus backtestable would be the only way we could really talk about "hard facts" of a system. otherwise it always very fuzzy. i also like discretionary trading of course, cause thats what i do mostly. maybe systemdevelopment would be a nice task for us here? i have developed some systems on equity indexes, but i always found it very hard because i always tend to focus on several characteristic of the index im working on and so somehow overfit the system - so its the absolute killer on the index it was developed on but is not so good on others. what would also be very helpful i think, would be to get some statistical data through a system software, for example if we are talking about "eurusd has a daily range of about 100 pips", this should be measured through a system software and then we can be more specific. eg say, 80% of the days eurusd has a range of atleast xxx pips. just some ideas. ps: i will get the daily range data from my software and post it here later
Hi rax, Very good idea. But I can't understand - if it works on the indexes - why not forex? A mechanic, automated system could be very find - so we could go fishing every day!