Citizens should be considered unlawful. I don't have the tempermant to be a long term trader.
What's a Momo?
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As this place is all about helping each other I thought why not! What do the arrows mean? What's the logic behind how it works? Tripack, teodomiro and traderjess87 like this. Hollow arow too many Arow have alert sound? I'll be checking for further developments, thanks! There are many binary options companies which are not regulated within the United States. There's definitely ways to make money off the 5 min chart.
I am a long term and short term trader. I use daily charts for my long term trades and min charts for my short quick trades. I've been successful in both. Try looking at the overall trend of the 30min or 1hr chart then drop down to the min chart for entries. That's when you see the market move and it'll be easier to scalp.
On the other hand, if you are just starting out, I would stick to the higher timeframes just to get use to the flow of price and trends. I am newbe in trading. But I don't have any problem with time frame. My concern is to be Trend following or counter trend trader. Right now i am still looking good system for both strategies that available in this forum. I hope it's have a good backtest and then to make forward test by my self and therefore I will ignore any bias review because i do it my self.
Our whole point here is to ride out the short term trends while the trend is making higher highs and lower lows , and to constantly squeeze 10 — 15 pips out of a trade while only risking five. The basic idea shown on a chart: Trading Rules for the 5 Minute System The rules for this system are quite simple.
The more it is slanting up or down, the stronger the trend is. In a down trend it is your sell signal. We have determined we are making higher highs, and the EMA 50 is pointing up. Looking at the chart below we first determine that we are in a downtrend, and then we have 5 entry signals on this chart. This system is simple and if used the way we have laid it out it can be extremely profitable.
Letting Profits Run I do suggest you trade the system as I laid it out in the previous section while you get used to it. But, as a variant, after you gain some experience you can let your profits run to earn more from the market. Using the same example from the previous section: Instead we wait until the trade moves 10 pips in our favor and then set our stop to the breakeven point. Wait until the EMA 50 begins to flatten out as shown in the screenshot on the previous page.
With this method we would have earned 50 pips compared to the 35 we would have earned from our previous example. Wait until the EMA 50 actually turns up — with this particular trade we would have held if for most of the day and earned pips.