Glad you liked the statement villas...I am as guilty as other traders in a way because I mainly scalp and often am scalping against the trend(Not smart and I dont advise it)...but to try swing or long term against the trend can blow an acct.I have a nasty habit tho of closing trades far too early and lose a lot of potential profits by not giving more credit to the trend strength.I just close on pleasing profits instead of letting it run with prevailing trend.Am getting better but I still am bad about taking 10 pips that could well have been 20 or more. I sometimes wonder if we would all be better off by focusing on daily charts more than we do in FOREX..the longer I trade FOREX the more I rely on the longer TF charts but being a diehard scalper I do all my trading on one min and 5 min charts with a 30 min to a 3 hr chart alongside depending on liquidity and depending on the particular pair. Even trends on a 5 min chart last a lot longer than you would think if it begins from well overbought or well oversold...if OB or OS enough those 5 min candles can yield some nice pippage as well as being zoomed in on the price action which I like. I just looked back for example at a 5 min USD/CHF chart from yesterdays action and U/C was technically overbought on my chart at about .9053..when trend started it lasted about 2 hours to the downside and finally went technically oversold after moving about 63 pips.So you can see that 5 min charts used effectively might seem like only quickie scalps for 4 or 5 pips thats not always the case...the key is OB or OS.One of the things I am using besides the ADX/DMI set is a CCI...ttr came up with and some of the others are using CCI(100) with EMA(30) overlay and are doing well...mines a bit different..its CCI(50) with EMA(6) overlay.Both work well tho...back in my equity days I used CCI(48) with EMA(6) a lot...whether 48 or 50 is a moot point. Guess I'm through rattling for a while and gotta get up and get into my day..Have a great weekend villas
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