1337br wrote: Wed Mar 08, 2023 2:01 am
Guys, I'm having great difficulties operating in m5, I've tested several versions but I'm still not winning and losing....
I would like to know for those who already have experience with this system, if the m15, m30 or h1 works better?
It's not the system version or timeframe that's the problem. Never is.
Here's 2 rules I would use for every update of this system:
•
No 'analysis' on your entry timeframe. This timeframe is just to see your entry trigger. For this system it's stuff like candle colours and crosses. That's it.
•
Analysis for trend / levels / directional bias / market structure / whatever, should be on an appropriate higher timeframe.
With those 2 things you can trade any timeframe combination that makes sense, e.g. M5 for your lower timeframe + H4 for your higher timeframe; M30 + Daily; and so on.
Essentially the 'mindset' is that you're actually trading that higher timeframe, it's just that you go into a lower timeframe to finesse the entry.
Apart from your seeing entry trigger, there really is no need for extra analysis on the lower timeframe you use.