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When trading a bull channel for instance, Al always makes the question, can bears make money selling at previous highs? Can they do at least a minimum scalp? He sais that a minimum scalp in Forex markets is 10 pips in a 5 minute timeframe.
That is ok, but if I am trading in other timeframe or another instrument, is there a way or some guideline to know how many pips/ticks is the minimum scalp size?
Thanks on advance.
Average bar size, average true range, 5%-10% of average daily range etc. You have to determine lookback period.
You can also look at measures of risk and see how much 1 times actual risk is on the setups. This is also a minimum scalp size.
Hey Andreas, How do you find the average bar's range? and how do you use ATR to find minimum scalp? I'm trying to find the minimum scalp in EURUSD on 5min Timeframe(10pips like Al says on the course is a lot on EUR session for most days).
Thanks on advance.
