ewokuk wrote:i give up. i dont know what im looking for anymore and ive lost all confidence in being able to pick any trade so end up opening them all over the place.
I am probably the last person to suggest anything, but I think this might help
The first thing you need to do is be able to identify where the midpoint is on the 1H bar. Do that for a few hours - if your impatient you can try this on the shorter time frames. The important thing to remember here is - this is where ultimately price wants to return to. This is ESPECIALLY important where the 1 H is concerned. Look at all of the 1H charts TRO has recently posted...look where the two dots are he has (yellow for current midpoint, brown for previous bar's midpoint). Note how the current bar comes back to the previous midpoint.
Once you see this for yourself, you already see a statistical advantage as you have a higher change of price returning to this mark.
The next step is money management - when you trade, make them small (i.e .10 of a lot), price comes back and you take your profit. If it goes against you, you just add another .10 once the lower time frames start coming back to the midpoint of the 1H.
Don't forget - you can trade this via the trading simulator (ala vHands and vTerminal) for MT4. If you don't have either of them, head over to ForexFactory and do a search for vHands - Blue Ruby posted these in a thread specific for vHands.
Attaching a chart for the Euro - note that Orange is previous bar, and blue is current for the midpoints.
