GalvestonForex

Please refer to the attachment and chart below for a complete understanding of our strategy. Thanks for viewing my post and have a fantastic day. GalvestonForex2007.doc

Please take a look at the attached image; it is today's 5 minute chart for the EUR/USD. We have plotted in trend lines and supports and resistances, using the smaller timeframe we are able to enter new or developing trends in a timely manner with very little downside risk. Our goal is to average 15+ pips on each currency pair we trade, if we can successfully trade 8 pairs on any given day we can expect 120+ pips per day, 600 per week, 2400 per month. Take the time to explore the 5 minute timeframe, send or post any insights that you may have. 15 pips a day should be no problem for a group of intelligent traders in this forum.

15 pips to a FORTUNE The 15 pip Challenge: It’s well worth our time! We are hoping that every member in this trading forum can share their insights and thoughts in an effort to develop a consistently profitable 5 minute charting system. As we all know the daily range of many currency pairs is in excess of 100 pips, which means that with the major up and down movements the potential trade-able range goes up to around 150-300 pips. When we utilize a smaller charting timeframe we allow ourselves many more strategic opportunities to enter into a new or developing trend with a smaller downside risk. The goal is simple: 15+ pips on average in any given currency pair per day, considering the daily price swings this is a very conservative goal and should not be a problem for a group of intelligent traders to figure out. Whether we come up with a strategy that wins consistently or simply wins one more than it loses it doesn’t matter. The WHY! 15+ pips doesn’t sound like much, but when you step back and look at the bigger picture it all becomes worthwhile. If we consistently can make 15 pips on one currency pair, odds are we can do the same in a few other currency pairs. If we extend our system out to say 8 currency pairs we could pull in 120 pips per day or 600 pips per week. 15 pips is very small, but 600 in a week is unheard of, but if we can make the 15, we can make the 600.