Simple's Green Room

[simplegreen]

Howdy jav...I think youre like most in thinking the M5 chart layout is for scalping...on a good trade using M5 I net from 22 pips to as much as 200..thats not just scalping for 3 to 10 pips at a time.The main thing is to be sure entries are from consolidation after all MAs have caught up to price action..that requires patience but the patience is rewarded.The M5 is NOT a scalpers chart TF although most traders think of it that way..its the beginning and end of a either a short term or long term trend!For example if I want to walk 100 miles I can only start with the first few footsteps then the miles will follow..if that makes any sense.
Face the truth about one thing jav..if you try to trade H4 or daily without knowing what BUILDS the H4 or daily(which is M5 or even tick data) then for most trying to trade the long term TFs becomes a losing proposition unless your really sharp about it and have an acct that can withstand 50 or 100 pip stops without pain.Most of our accts are small compared to the big boys so we are forced to compound gains with the buying power we have.its very difficult for guys with small accts to trade in the big boys game of daily or weekly candles and survive.