Learn to be a Scalper - page 53
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Here is the chart showing my trades the past 20 minutes.
Short +3
Long +4
2 Shorts +11 each = +22
Total +28 pips
I should have kept 1 short for the big drop that looks to be happening.....
Cheers.
I prefer this hour of the NY, 8am Pacific Time.
I was playing the 1.3700 with some risk of the price going downwards, all 4 trades are Longs on an expected stall area, even though it could be temporary, or it could be the low for the day.
Trade 1. +4
Trade 2. +4
Trade 3 and 4. +18 total
Previously 28 + 26 = 54 pips after spread (no losses yet)
Everyone is watching PRICE FALL, I am thinking, YEA GO DOWN BABY.
It stalls, test the low, holds and I LONG, yes risk, but hey it is a typical pattern in the market, price does not just go one way, it bounces, it swings, it stalls, it moves fast, but we can capture the flag here and there.
SMALL CHUNKS are easy, don't worry if it goes 20 or 50 pips, get some NOW.
Was a +4 on that, taking my daily total even to 58 pips with just small hits.
Scalping works, if your willing to risk the entry, knowing if it fails GET OUT with a reasonable loss.
NOTE: As I was posting this chart, I was watching the 1 minute and took another long for 4 pips, was at 5, but I didn't close fast enough. No chart is need, same old thing over and over.
Daily Total +62 pips (no losses)
I just took 3 more entries and closed those longs for 27 pips total, this thing is playing everyone, and it is showing some very nice setups, 20 more minutes of this, and I am done.
Daily Total +89 pips after spread
(correction +87 pips from my transaction record)
My first trade setup in Asia, I watched a few go by, and decided to wait for my brain to adapt.... that nap I took really slowed me down.
This is a typical run to the last high, stall, and breakdown to an area that previously held.
+7.5 pips.
Let's see how the evening pays out today.
I watched a lot of trades tonight, but I have been sidetracked with other things.
I wanted to mark a few 1min setups.
You can make many trades in a day, I have traded too much.
Cheers
Thanks for the Chart. On the trade that you took, where was your stop? Because if I would of taken it my stop would be at the high 3803.
Thanks
Thanks for the Chart. On the trade that you took, where was your stop? Because if I would of taken it my stop would be at the high 3803.Thanks
Good evening bro,
The body of the 1min was my reasoning for entering, that would have to be the stop on this short, had it broke that line it could go much higher.
There are occasions I will let it run 5 or 6 pips and play another lot, and look for the top to close out both for a loss, but I prefer keeping them close.
The reason I asked you the other night how much your trades went against you was because I had a thought to assist you in winning more of your trades with less up front risk.
It use to be normal for me to see every trade I took go 5 to 10 pips against me, every time. I told my friends they could get rich taking the opposing trade when I entered, but after many years I learned my mistakes and found a way to make my entries work with more precision.
This is one of those support bounce LONGS.
Asia is known for ranges, so I watch for high or low and pick it off.
I marked the WHY I entered - Support holds with 1m bodies
then the WHEN, break of the first indication it is going HIGHER, and finally the WHERE, the last place it stalled.
And with that +6 something pips.
X marks my UH OH stop area.
Sometimes when I do enter it goes right against me and yes if someone would take the opposite side they would make money. Other times it goes my way.