Learn to be a Scalper - page 15
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I just spent the last hour doing a lot of long setups, even though the moves were down, there were multiple LONGS for the taking.
I took 10 trades in that hour, 8 wins and 2 losses.
Wins: 8, 7, 4, 12, 8, 3, 2, 2 = +46 pips
Losses: 12, 10 = -22 pips
Total +24 pips after spread and losses.
(note) price was moving much stronger then my larger time frame anticipation, causing 2 trades to close at -10 pips.
35 Wins 5 Losses
+147 pips
I was expecting the move to expire it's downward spiral around 3837.
I'm trying to follow the logic behind your trades but it's being a bit difficult to me to do so.
Unless I trade the breakouts, I don't know when to find the right entry.
I get a lot of fakeouts when I try to enter on exhaustion.
Marduk, I do understand your question.
The concept is to do 1 of 3 things in trading.
1. Breakout
2. Reversal
3. Continuation
I prefer Reversal and Continuation, but not the Breakout.
The Asia session is known to move 70 pips as a norm, and when it goes over that and reaches a 100 pip move, then you will surely see the sideways move occur.
Do you have candle recognition?
There are signs of coming trades during the actual candle time frame, and by the way it closes and the shape it takes can also give a heads up.
I know there is little information in my trade setups, but there is reasoning behind it.
I have traded the Asia session for over 6 years, and you learn to recognize how it swings. I also have done the NY session, but it can be a little more sensitive to the DOW MARKET.
I will try to give more info to you.
Cheers.
NOTE: The EU has just made a 50% move back into that drop from ASIA, so let's watch for shorts to form from the 5m to the 1m.
Here is the updated 15m chart.
Exit 4 shorts on the 50% stall
Was a very simple setup, I loaded the boat.
+9 pips
+6 pips
+6 pips
+4 pips
39 Wins 5 Losses
+172 pips
Attached is the 5min chart, along with 1min entry and exit.
Looking for move to 3875/76 here...
Exit Long for +4 pips, I think it was 5 pips, but didn't see the actual closing price.
Here is the chart setup, the 1min gave NO MORE DOWN, READY FOR UP.....
And it did.
I got the retracement too.
No problem there.
Will we see another test at 50%?
I entered this trade and Oanda froze on me.
What's your broker by the way?
I've seen some mt4 charting and also Oanda.
Just closed more trades, I have to look at it, I was loaded on shorts.
Wow. NICE.
Give me a few to update charts and totals...... that was a great spike up to short the overall Asia bearish move.
I got the retracement too.No problem there.Will we see another test at 50%?
I am a fond OANDA trader, THEY ROCK....... after many other brokers...