| Phoenix - Thanks for that long post. A lot to think about there. And thanks for sharing the bad with the good. Please excuse the fact that I am way down the power curve compared to you, but I am confused by your use of 5 minute bars for decisions. The one minute bars for entry I get. My confusion is that I've found five minute bars to be too slow, especially with the multiple confirmations I require. By the time I get a setup in 5 minute bars, it's on the second consecutive setup in one minute bars, and often there is only one more move left in the one minute bars. Thus I have missed two moves, and often have to exit immediately. Of course when a five minute pattern runs, it's a beaut, but that usually means it's a trend day, which should also be obvious from the one minute bars. Can you relate? If so, do you have an opinion? For me this is a major point, because it's what drove me to the shortest time frame possible this side of scalping. - Mike |
