I don't think you know how an edge works. It gives you a statistical slant towards growth over time in no small part because the other traders don't know about it. The history of trading is replete with strategies that worked when they were new but became ineffective when they were publicly disclosed and became widely known and implemented. Your analogy to roulette is ridiculous. You're not trading against some "house", you're trading against other traders who have to be convinced to take the other side of your trades. Sharing your edge, if you really have one, is just stupid.
Yes, unless your edge is your superior ability to read and react to price based on countless years of practice and rock solid discipline and risk management; something that will take most recipients, the same ridiculous amount of time, or more. Not counting the above exception, agree on all accounts.
I take up the entry into the forex market with the help of smaller time frame chart so that i can get the best entry for the day enabling me to hold lowest floating loss possible.
1 min charts are just noise, there can be no good entries off of noise. Get rid of your 1 min chart. There are ways to show overall trend on a longer term chart if you just want to use 1 chart or instead use the 5 min chart and then a higher min chart to show longer term price action. The higher up in time one goes, the stronger the levels of a channel hold. Also, you could be chasing too much. If one is not able to use an acceptable stop to cap risk on a trade, then the trade should normally not be taken. Or one can use a standard target and stop. However, if see your stop is always greater than your target, you need to fix that going forward. Remember its better to be patient when trading. I also use an indicator to help me determine when to enter or if trend is going to continue rather than stop.
I could put my method on the front page of the newspaper and no two traders would trade it exactly the same. Too many variables involved. Also, I would wager I could put a successful method on the front page of the newspaper and only 5% or less would be profitable using it. Everyone knows the "secret holy grail" of how to lose weight, why is America so fat?
We use a specially derived technical study for the entry signal. We confirm that signal with multiple timeframes and a "non-technical" study. I am very cautious about piling on multiple technical studies for signal confirmation. Especially things like confirming one oscillator study with another flavor of oscillator study.
I noticed you didn't post that strategy either way I do agree with the other comment that this post of a strategy here anyway would be a drop in the ocean. That said, my edge is under a dollar per 1k shares commission rates and rebates of $1.5+... copy that ; ) People are right though to be diverting the entry question to EDGE-- and I'm feeling generous, so here's a gift that IF you take to heart you'll become a much better trader. You need to know what your edge is BEFORE you place a trade. The odds need to be stacked in your favor as much as possible. This means, your entry should be based off off many factors moving together. If you're trading the NQ, you need to be looking at the the stocks that make up the nasdaq 100 esp. paying attention to how it's weighted. Look at what AAPL is doing, is it near support or resistance levels? I'm telling you this as a profitable trader for several years: Your entry is NOT the first or second step, it's like the 3rd or 4th. Before you enter, need to have the game planned out-- where is your exit, what do you do if the market goes up/down/sideways.. if it breaks through your stop, do you reverse your position? Do you add to your position if you're right? The best strategies are the ones where you can make money even when you're WRONG. That sounds a little weird but it's entirely possible. Let's say you're buying the NQ at support levels, you buy 2 contracts on the bounce, and as it goes up a little, you raise your stop for one of them. Even if it's only a quick uptick before blasting lower, one you got a slight profit, the other you're stopped out flat. Other things to consider, what if you traded options and when you thought a stock would go up, you sell a put spread? Then even if the market doesn't go anywhere or slightly down, you collect a premium. Figure out as many edges/advantages/ways to lower your risk as possible, and the question about entry will define itself. Long post, but I hope it helps!