HI I am at home during the day now in Australia, and as l have spare time to look at the market and l am looking very hard for a 15 minute strategy to fill in my day and make a few pips on average per day.
Why is it so difficult to make just a few pips per day, l mean l know some days will be losses, but l'm talking on average over a month and years.
After backtesting so many different strategies and systems of my own, l just feel so upset that maybe there just isn't a way to make money from 15 minutes time frame. I have found a daily trading system which works very well, but l would like to compliment it with a more aggressive shorter time frame system.
I don't really think indicators are the answer as l have found they always lag, but l may be mistaken. Does anyone out there really make money trading shorter time frames? I suppose one has to think even if there was they wouldn't tell us nor would they be looking at this site. Hey, but its worth asking the question just in case there is someone out there kind enough to share their successful secrets.
The ones that are really making the big bucks usually go unoticed which is just the way they like it. What do you guys think. I trade live the "Koala System I also trade, just starting, the EMA Step.. When trading shorter TFs remember to lower your expectations regarding pips won and take tighter stops, look for at least a 1: Play around in demo to see what you like.
Good trading to you, d. Everyone can see price wants to break but it hasn't So rather than go short at the break point, you can either trade the reaction off the break point long or short the highs.
If what you are doing is not profitable, adapt. Thanks for that, I've been searching for it for a couple of days since a friend of mine told me about it. Kudos to you soul But I live trade the Koala also. I am trading from Australia as well, and most of the pairs seem to trade in a very small range for most of our day, until London opens.
I have had trouble making pips during the day on the shorter time frames, but once London opens, I am having far more success. Why isn't the low around I must not be getting something. Fraser do you make money consistanly trading later in the day? Do you use indicators? As l said l find indicators can be quiet distracting from what is actually really happening on the market and often they seem to lag. But l will use them if l find a system that actually works. I just haven't found such luck yet on the 15 minute time frame.
All l want is to make pips per day after spread, surely there has to be a way to make that on average over the month. Might I suggest you go to the free systems section of the forums and check out jaquille's 'cheetah' thread and the 'mmtt' thread also. Both are excellent as are others however you'll find short TF systems in both those threads which are commendable. I have been using the EMA Step system, but like the others have said, there is plenty of systems here for short term trading that I am sure would work fine.
You just have to find which one works for you. I know what you mean. I find the NZ mrkt thru the day can be quite flat after all the major moves occurred overnight. I would be most interested if you find a simple effective system.
Actually its not rocket science but we arent good at waiting for confirmed setups. Thanks, l will go back and check out some of these systems. But just wanted to also say, each system will work for a short period of time, but finding a 15 minute system which works consistently year in and year out is the hard one to find. A system that has only been traded for 6 months isn't a successful proven system, in my view. I want this system to work year in and year out in all market conditions, that is what a profitable system is.
All that hard work and stress and then you go backwards. It needs to be consistant. I know some months are going to be loser months, but if over the course of the year s , l am up or have a minimal drawdown then l am happy. When l have read posts, most people who have a system don't seem to backtest it and have only been trading the system for a short time. For me this is an excellent way of losing all your money. So if there is anyone out there who has backtested or live traded, even better a 15 minute system l would love to hear from you.
Surely out there in the big wide world out there someone is making huge amounts of money trading the forex. Finding those rare people is the hard part. Off to look at more systems.
Thanks guys for your imput. Making money from 15 minute chart? Don't think in terms of chart time frames. Think in terms of price. Why is it so difficult to make just a few pips per day? Are you rushing in to make the pips or waiting for your setup to unfold? Is there any easy way of finding the koala systems etc, etc,. I can't seem to find it. Kudos to you soul Best Regards, Matt Jones. Give the 2 bar break out trade a go.
A short at 1. Previous day HiLo breakout Chart of choice ain't matter. It was a couple of bars ago. The indicator updates with each new bar. Patience is a virtue. Best Regards, Matt Jones.More...