Learn to be a Scalper - page 33
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3685 short entry 1
Exit +4 (2 lots) = +8 pips
Watching for top test and fail.
Weekly Totals
18 Wins 0 losses
+ 116 pips
Took 2 shorts around the high of that retracement
Both were +4 pips = +16 pips
Weekly total updated Post #323
Good Morning Mardoch,
Good news. There was some evolution. I´ve made some pips (demo account).
- 2 shorts: total 4.7 pips.
It was not very safe trades.
Because it was counter-trend trading. But it´s ok.
Thank you very much again (Do you think I´m bothering you with all of this thanks?)
Good Morning Mardoch,Good news. There was some evolution. I´ve made some pips (demo account).- 2 shorts: total 4.7 pips.It was not very safe trades.
Good job on the trades
Have you traded a real account yet, or just demo?
Cheers
Weekly Totals
22 Wins 3 losses
+ 154 pips
Good job on the trades
Thanks Monarch,
Actually, I´ve traded real account just in Brazilian Stock Exchange (Stocks and derivatives), but never on Forex. I had been trading in Bovespa for some years until some months ago, when I commit a stupid and big mistake that almost break my account. The cause of this mistake is something well known in the market: greed. Since this I have never had the same confidence in trading again. So it has been some months since I´m re-building my confidence.
I believe that technical analysis is not something very complicated. Everyone can learn it in books, in internet and trading. On the other hand, having a good psychologic is not so easy to achieve… But in this topic I´m learning a lo
Well about psychology we must all admit that it's every trader's Achille's heel.
I'm still working on my behavior towards the market, but as I have been told, it's always a work in progress.
So take it easy, and keep demoing all you can, even when you're trading the real account, so you keep trying out those hard to get setups, until you finally get them.
Monarch, about this strategy of yours, i've been trying it on London/US but i'm not having good results.
The volatility of the market just kills me and my stops.
One time I might be up 5 pips, and the second after i'll be losing 20+... and all this in periods without news.
What do you suggest?
Larger TPs and stops also?
Well about psychology we must all admit that it's every trader's Achille's heel.I'm still working on my behavior towards the market, but as I have been told, it's always a work in progress.So take it easy, and keep demoing all you can, even when you're trading the real account, so you keep trying out those hard to get setups, until you finally get them.Monarch, about this strategy of yours, i've been trying it on London/US but i'm not having good results.The volatility of the market just kills me and my stops.One time I might be up 5 pips, and the second after i'll be losing 20+... and all this in periods without news.What do you suggest? Larger TPs and stops also?
Marduk, I quit trading the Frankfurt and London session a few years back for the same reason, there is so much movement, and it is the middle of the night for me. I found that I was trading very tired, and was losing way too many setups.
I prefer the Sydney open which is near the US close, then most of Asia up to the hour before Frankfurt opens, when price starts to do crazy spikes.
Then I will watch for setups during the Pre-NY open, right around the news release times for US. I prefer to be out of the market by 10am EST.
I took a Long on the low just a while ago, not my favorite time, but I had an extra half hour to watch.
I cleared +7 pips, here is the chart I was watching (1min)
Important to watch the 5m and 15m for certain stall setups, this 5m chart shows the area I was taking longs on the 1m, it was a nice rejection candle on the low, and the 2nd Bullish candle was the entry, which can be seen on the 1m as well.
Learn to watch strings of one color, during a bigger move, then when there is opposing color on 1/5/15 min watch for a quick 3-10 pips. I normally will target 5 pips on most of my trades.
Weekly Totals
23 Wins 4 losses
+ 159 pips