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Re: digitick post# 10658

Friday, 11/30/2007 9:57:41 PM

Friday, November 30, 2007 9:57:41 PM

Post# of 140146
digitickk..I failed to mention time frames...I use first the 1 day candles for trend(FOREX IMO is ALL ABOUT TREND!)..I then move to 1 hour,30 minute,15 minute and 5 minute...If all minute time frames give me definition then I sit at the 5 minute till its getting close...when I think I am very close to entry I move to a 5 or 10 second candle and place the trade...If I am going long I wait for a 5 second candle downtick(yes..you heard right) and I buy at market on that downtick...if I am going short..I wait for 5 second uptick then then short at market on the uptick.This method will usually give me a several PIP edge on my entry although it may seem confusing..its only logical and Simple(LOL).If I have found a true intraday bottom the trend will often extend well beyond my exit but if I do the $100+ profit thing I mentioned and do it numerous times in the day...WELL..add it up!...also this way I am almost never at risk. My single trade size is only 75K usually and with that I can easily deal with a failed entry point if it occurs but the profits add up quickly if I never have a failed trade causing me to scramble to adjust.

Simple

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