I spent 24 of those 29 months trying to develop a trading plan on the M1.
Then I killed it off forever. I will never set up an M1 chart again.
Then I went to the M2.
A month later I put it to sleep forever too. I will never set it up again.
The M3 is fast - what I like and need - and my customized Stochastic and MACD do the rest.
However, I confirm what the M3 Stoch tells me on the Stoch for the M4, M5, M6, M10, M12, M15, M20 and M30.
At the same time I watch the Stoch on the H1, H2, H3, H4, H6, H8, H12, Daily, Weekly and Monthly.
The same goes for the MACD.
Then I mix the 10 x 50 EMA in too.
All only the EuroDollar.
So, I´m covered.
Yes your system can work well on EURUSD and GBPUSD those two I know they are very stable.
But have you ever thought of an event which happen last year on the 18th of April, when EURUSD just created a huge gap out of the blue, it was unexpected!
It was just after the news, you can avoid such disaster by always using a stop loss which either break point you open trade or just secure 1 or 2 pips and let the profit pilling up
You talk about one big gap in a year. Your Stop Loss will save you if the gap is against you. Otherwise you are in for big profit when the gap is in the direction of your trade.
Just between you and me: there are also days (well, at least one that I can remember during the last two years), when it is possible to make 100% profit on your capital in one EU/US session on 50 leverage in the EuroDollar market.
Double your capital in one day.
Quite a number of days where you can make 50% in one day and that is simply with 50 leverage.
Who needs crypto currencies when we have the EuroDollar and leverage in (mostly) well regulated markets that stay open 24 hours a day, five days a week. :-)
Observe GBPUSD, USDCHF and EURUSD today.
GBPUSD for intraday trader a move below 1.41207 will be a selling stop opportunity not for a long time, but much secure for a sell at 1.39755
it seems the USA like a weaker $, they have just retain the interest rate to let the trend go on.
Uncle Sam like to play it game
Remember this week and next week could be the most hard week for most currency, because most currency has either reach it all time high/low and much often its unusual, when such thing happen with a sharp high/low you can expect market to retrace sharply, better stay away and observe the market until the bull and the bear get tired, I'm sure you want to be able to trade the whole year by preserving most of your balance :-)