Hi Sharks
I like the way he explains his strategy's in a simple easy to understand approach.
As I trade M5 a lot, I would like to add a few things to consider but in no way am I judging his strategy because I haven't back- tested it or had time to try it yet. I do like his work very much.
These are just a few issues I have faced over the year on M5, I am not commenting on his Strategy.
1- Market type is number 1.
Price spends times in areas that are untradeable.
No Trend trading system can handle a market that is - Sideways Quiet / Sideways Volatile / Hard to tell
We need to trade it - Bear or Bull normal / Bear or Bull Volatile
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Therefore over half the time, all trend trading systems will fail. Even on M5, some days the market is untradeable which occurs 2 out of 5 days a week. I lose money if I trade on those nights so I have learned to just turn the computer off.
2- R & R needs to be high
I still lose ( or break even ) on every second M5 trade. I therefore need a much higher R & R on my M5 trades to make money at the end of the week. I along with a few fellow trades have found its better to trade London Open because of volume and then let the price run after a break even is achieved. Its not hard to get 75-120 pips on EUR GBP pairs 5-6 times a week. If we add additional trades at pullback ( Supply ), its possible to get 200 pips with 3 positions at least once a week. Trading for 10 pip wins was a disaster for me when I tried because of Spread and other losing trades.
3- EMA's are good for getting your attention only
The flow of the Higher highs or Lower lows is what we trade, we only use the current chart for direction because we can see the trend with our eyes.
4- Trade Pairs with High Volatility if you seek high pips
Examples Best 8 - GBPNZD / GBPAUD / GBPJPY / GBPCAD / EURNZD / EURAUD / GBPUSD
If I was trading for 5-10 pips, I would have to trade pairs with low spreads like EURUSD / USDJPY
Anyway this may or may not be of any help, let us know how his strategy works out.
