Discussion in 'Forex Trading' started by Boy Scout, Aug 13, 2006.
I was wondering if anyone here would like to share a 1 minute chart Strategy.
don't use 1 minute chart.
does anyone use it. Whats your ideal chart time frame.
2 minutes. Here is the strategy for bar charts.
This is called Previous Bar Break Out (PBBO)
If the high of current bar breaks even one tick above the previous high.. you BUY and vice versa for short. Your STOP is at the low of the previous bar. Thus, anytime the price goes below the previous bar, you get stopped out.
Guys, you gotta do better than that
thats what i thought - that seems to easy -
I was thinking is there an indicatorof some sort out there and some rules on how to use it.
Yeah.. I too cannot believe that the ET crowd wasn't receptive to our young novice friend's request.
KEEP it EASY. Anything more, it would get COMPLICATED. The 3rd most important thing to remember in trading is to STAY AWAY from OVERCOMPLICATION.
You thought PBBO was easy? It would keep you on all the major moves. The meat of all moves while the stops are constant and small.
Ok this might sound primitive to you guys - But latley i have been watching the markets on 1 minute charts - and i have been lucky to make money in my demo account when I can see a bullish or bearish trend beginning. If i closely watch the markets, i can get out before my looses are large.
Is this too simple???
yeah.. thats TOO simple. You need Simple, but never Too Simple.
And you been doing this on FOREX and making money? That sounds crazy. I cannot believe you're making money doing it.
But, if you are making money, and since most doesn't.. I think you should stick with it.
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