One more profit.
+5 on one position, B/E on the other
I think this chart should clear up a lot of questions.
This is a 5 min chart of today so far. I've marked with red and green arrows the buy or sell signal that came first each hour in the 5 min bar that the entry would have been hit. You can see clearly from this chart what the maximum drawdown / profit would have been for each trade.
Whatever exits the individual trader choses to take are irrelevant - what counts are the facts. By using information in these 5 min charts a trading plan can be developed.
Bunny
A quick observation from the above chart....technically the 9am short could still be running because the initial stop was never hit, it only stopped out for me because I brought it down to just beyond the next line when the 10am bar opened
Which brings up a question - what do you do if 10am is saying long but the 9am is still saying short? Bear in mind it was 12 pips in profit in the last 5 mins before the new hour opened, it was the 4th red 5 min bar in a row too - possibly to exit before the new hour begins could be a good idea...Time will Tell
IF (it's a big IF) the 9am was still in play, it could have been added to with the 11am short.
Bunny
I think every trade so far today (from 8am onwards at least) would have made at least 5 pips or more before a stop of 25 was hit. my own personal stop is 30 pips because I allow for the bid price to actually cross the line by a pip.
Bunny