Scalping video journals with a semiautomatic technic - page 9
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forex scalping software in-dependable
forex scalping software with in-dependable feed from broker.This is the third part of seven steps in forex scalping success.forex scalping demands to know your tools of the trade.
A professional trading platform in-dependable from the broker you have your account and separate market feed ensures that, what you see in your charts is correct and precise.
The problem is that software costs and feed is in a monthly subscription basis.
That means that the above combination is not suggested for newbie traders with small accounts.
Of course that doesn't mean you can't try them in demo or trial accounts and have in your mind what is out there to help you, if you succeed in your first steps and you decide to do professional trading for a living.
A lot of software applications are available from brokerage firms and independent vendors claiming varied functions to assist traders. The deciding factor to select the right product should be based on the product functionality best fitting one’s trading needs. Novice traders who are entering the trading world can select software applications that have a good reputation with required basic functionality at a nominal cost, while experienced traders can explore individual products selectively to meet their more specific criteria
Most brokerage firms today offer free or premium trading software applications to individual clients when they open a brokerage account. The bundled software applications, offering a wide variety of trade, research, and analysis functions, are used as a prominent sales-pitch to the trader client. They also boast features like in-built technical indicators, fundamental analysis numbers, integrated applications for trade automation, news, and alert features. We will examine some of the most widely used, based on features
I included in the list software for stocks also.
Sorry for my English I am trying to improve by use them daily.
See the video below
https://www.mql5.com/go?link=https://www.youtube.com/watch?v=nXjmSqZ43Gg
My trading room setup one main pc with two 22'' screens networked with an auxiliary (clone of the main) notebook all controlled by one wired mouse and one keyboard with Synergy. Preferred platform ninjatrader connected with one of the suggested ECN brokers
forex scalping 7 9 2015
forex scalping yesterday brought very poor results in an extremely slow market.
Initially in the London open I have lost an entry to a valid signal to gbpjpy by two pips since my limit order didn’t trigger and the pair produced a very niceÂ* run (….pip
Late in the US session I gave a short order in the pair which I left it open during the Tokyo session but I have close it with +5 pips early in the morning while I saw it reversing.
gbpusd gave the signal very early in the morning so I dint touch it.
eurjpy produced one of the slowest sessions I have ever seen.
I have attempted a long 15 minutes before London close but the pair reached 9.5 pips in four hours of trading without hitting my scalping target and reversed so I closed it by loosing five pips.
Then I reverse it and left it open in the Tokyo session achieving the 10 pips target but the third part of the order stop out early in the morning.
I even forgot to open the mic while I was explaining in the video.Sorry for this.
https://www.mql5.com/go?link=https://www.youtube.com/watch?v=OsRTLY6MSIk
[YOUTUBE]OsRTLY6MSIk[/YOUTUBE]
The pairs with remarks on them
gbpusd
gbpjpy
eurjpy
forex scalping 8 9 2015
forex scalping is not easy.
Today I felt like the man going to the casino feeding the slot machine and the time he gets disappointment and leaves his place the next guy hits the jackpot.
This thing happened in the morning with eurjpy and gbpjpy trades. The moment they reversed I was so tired to follow.They gave 100 pips plus.
In the European morning I have took a wrong short trade in gbpusd and I sweat to close it to breakeven.
Then in the afternoon I took a long signal in eurjpy waited the retracement. Enter in the trade in correct position . Then the pair three times it almost touched the first target of 10 pips with 9.5 pips and dropped.
The third time I closed it to breakeven and saved my stop loss since it dropped 40 pips entering in a range period.
So I gave up for the day at least I didn't ended red and wrote a part in the video about consistent profitability.
the Law of large number and how it impacts your trading
Before anything else, you must understand the law of large number.
what’s that
The law of large numbers is a theorem that describes the result of performing the same experiment a large number of times. According to the law, the average of the results obtained from a large number of trials should be close to the expected value, and will tend to become closer as more trials are performed. – Probability Theor
For a trader, this means you need a large number of trades for your edge to play out.
You will not be consistently profitable every week, taking 5 trades a month.
Why?
Because according to the law of large number, results are random in the short run, but will be closer to the expected value in the long run.
Focus on whether what you are doing is right, not on the random nature of any single trade’s outcome. – Richard Denn
What is consistency?
Since the law of large number requires a certain number of trades for your edge to play out, how does it impact your trading?
forex scalping – Trading at very high frequency, like 10,000 trades a month. You can expect to be profitable in most of the months, or even everyday like Virtu Financial
Day trader – Trading an average of 3 – 5 times a day, you can expect to be profitable in most of the quarter
Swing/position trader – Trading an average of 5 – 15 times a month, you can expect to be profitable in most of the year
The more trades you put on during a shorter period of time, the faster your edge will play out.
But without an edge in the markets, the more trades you put on, leads to blowing up your account even faster.
[VIDEO]https://www.youtube.com/watch?v=zoVJTRlthaU[/VIDEO]
https://www.mql5.com/go?link=https://www.youtube.com/watch?v=zoVJTRlthaU
The pairs I watch every day
gbpjpy
gbpusd
eurjpy
forex scalping 9 9 2015
forex scalping 10 9 2015
Scalping didnt started well today.
I have entered in a ranging pair the eurjpy.
I had a counter trend signal ten minutes before London open wait for the retracement and entered. The trade went red from the first minutes and gave an opposite signal.I had a chance to close in breakeven but I haven;t got a new resistance or support in the trigger chart so I didnt close.
One hour later I paid the error for 20 pips.
While I was in the eurjpy trade I took a long signal in pound dollar and sixty minutes later I got a perfect retracement were I got in long for intraday trade.
This trade hit in the final stage approx 65 pips. I close initially 2/3 of the position but while I saw how it was approaching a resistance in the higher 2 hour time frame I close it all.
Few minutes later it reversed and dropped 60 pips down,
The moral of the story today is: 1. close to breakeven when you have the chance and 2.dont be greedy.
Another day closed green with nice profit.
The title of the video with the trades consistent profitable.
https://www.mql5.com/go?link=https://www.youtube.com/watch?v=AVORUOag31Y
[YOUTUBE]AVORUOag31Y[/youtube]
The three pairs I watch
gbpusd
https://www.mql5.com/go?link=http://forexraiders.com/blog/wp-content/uploads/2015/09/1gu-300x189.png
eurjpy
https://www.mql5.com/go?link=http://forexraiders.com/blog/wp-content/uploads/2015/09/2ej-300x187.png
gbpjpy
https://www.mql5.com/go?link=http://forexraiders.com/blog/wp-content/uploads/2015/09/3-gj-300x169.png
forex scalping 11 9 2015
CFTC commitment of traders released September 11, 2015:
EUR shorts 81K vs 68K shorts prior week
GBP shorts 18K vs. 11K shorts prior week
JPY shorts 7K vs 16K shorts prior week
CAD shorts 49K vs 55K shorts prior week
CHF shorts 7K vs. 8K shorts prior week
AUD shorts 53K vs 56K shorts prior week
NZD shorts 12K vs 8K shorts prior week
The data is from the close of business on September 8, 2015
EUR shorts increase by 13K
JPY shorts move closer to square and near the years smallest net position of -5.4K. JPY positions have not been net positive since Oct 16, 2012 week.
Our primary target to finish the week in green was achieved again today.
Consolidation and breakout 14 9 2015
Consolidation and breakout is one of the most profitable trades you can take in any financial instrument.The problem is to find the real breakout or you will be caught in range .As I have predicted on Friday post GBPJPY would break in the next session.So with patience I was waiting for a signal in the European session today.After the fresh signal I wait for a retracement and retracement came.I entered in the most safe spot but the pair scared me initially because it continued to climb and gave opposite signal.The higher time frame chart- which carries my swing system on it-was in pivotal point.Either it would break the pivotal point and collapse or it will bounce from the pivotal point and resume the bullish trend.I was undecided what to do, close in breakeven or continue in the trade.Finally after 29 minutes gbpjpy moved fast in +12 pips and close my first scalping target.Since I was waited for a breakout I converted the trade to intraday by canceling the trailing stop ,entering a stable stop in 92 and left the trade with 1/3 of the position to see what it will bring.I have opened the platform again 30 minutes after the DOW open and the trade was in +101 pips.I decided to leave it open until London close and keep the strategy wait and see.Twelve minutes after the London close the pair was still in no mans land giving me 100 pips and I closed everything for the day.
I have wrote everything to video as usual ,enjoy
https://www.mql5.com/go?link=https://www.youtube.com/watch?v=2zaM63R1KMU
When to close forex trading positions ?
When to close forex trading positions? The most of the times I close open positions around London close.I sleep better at nights.Rarely as yesterday I had open position during the Tokyo session.In these cases I close them few minutes before Frankfurt opens.Reversals and stop hunting will follow I don't want to be in.Yesterday trading was difficult for the three pairs I watch.GBPUSD produced a nice signal with over 150 pips move south but with no retracement.EURJPY produced a long signal with retracement but took in demo only.Finally GBPJPY was ranging all day and since I was waiting for a breakout a took the retracement of a short signal which generated in DOW open.Trade went bad and lost 25 pips. Left the charts open and found a pivotal point, a third touch in the upper area of the gbpjpy range and took an intraday trade with stable stop approx 20.30 EST European time.This trade was left open during Tokyo session and produced 48 pips.We made 23 net pips for 15 of September and closed it 20 minutes before Frankfurt open.
Forex scalping techniques 16-17-18 Sept 2015
It was three difficult days.The reason was that my biological clock was upset and traded in different times than those I usually trade.
https://www.mql5.com/go?link=https://www.youtube.com/watch?v=Fsjlx-aVT64
The first trade I took was in 16/9/2015.I have lost the bullish breakout(sleeping) and attempted to catch a bounce in resistance in higher time frames in GBPJPY.The breakout was a valid signal with retracement offered 170 pips plus.As you remembered on 15-9-2015 I was trading in the Tokyo session.The gbpjpy train passed over me and the cost was -11 pips. Closed the platform for the rest of European session.
Late at night in the closing of New York ,I have a short signal and I am attempting to fade the great bullish move.
First attempt 17-9-2015 till next day at 10,54 European EST time = -20 pips.
Second attempt 11,30 retracement to short signal until 13.44 =-20
Third attempt double top 30 min after DOW open till 20.55 = -20
Forth attempt same day 21.30В* till 21,38 based on divergence= -20
Total for both pairs - 91 pips
Switching to gbpjpy short in 22.00 till 04,03 next morning . Total +139 pips
139 pips -91 loosing pips=48 pips net for the three days
I didn't trade at all on Friday to relax from the stress of the previous days.Counter trend trades are very dangerous and new traders must avoid them at all costs.
Scalping Journal 4 11 2015
Scalping journal for November 4th follows.
Today we had some activity in Tokyo session for Pound dollar and news at 11.30 were UK Services PMI (Oct) Actual: 54.9 Survey: 54.5 Prior: 53.3
One hour later I have found a retracement in pound dollar and enter a long scalping trade.
EURJPY had an active Tokyo session with range of 58 pips so I will not touch for today.
Currently 132.43 having held the 132.25 initial support/ demand I highlighted earlier
Offers: 132.80 133.00 133.20 133.50-60 133.75-80 134.00 134.25 134.50
Bids: 132.25 132.00 131.80 131.50 131.30 131.00 130.85 130.50
GBPJPY had a very narrow activity in Tokyo session and we are waiting a short retracement to enter in for a quick scalping in 1,5422.
The price of the USDCAD was rising in sympathy with the USD bid. However, there was a caveat. That was that oil prices were up 2%. Typically, the CAD rises as oil prices rise.
The current price of oil has risen more and currently trades at $47.43, up +2.77%. What has happened to the USDCAD?
Syria will play a major role in oil prices.Heads up for opportunities on this fact.
It has retraced the move higher and tests the lows for the day.
Technically, the price fell back below both the 200 hour MA (green line in the chart above) and 100 hour MA (blue line in the chart). It also fell below the broken trend line. That was enough and we have seen an accelerated fall to the 1.3070-1.3079 area. This area (yellow area in the chart above), has been an area of swing highs and swing lows going back to early October.
Here is the bonus for today one minute scalping in usdjpy and eurusd template for ninjatrader
Chart Setup
Indicators: 12 exponential moving average, 26 exponential moving average, 55 simple moving average
Time frame(s): 1 min charts
Trading sessions: London session, US session
Currency pairs: Low spread (EUR/USD, USD/JPY)
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