Learn to be a Scalper - page 21
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After price moved up, the 7pm EST had some support holding on the 1min, so I longed it for +5 pips = +10 pips.
I went with 2 lots on that entry, I may finish the week with double lot size.
Weekly Total
71 Wins 9 Losses
+357 pips (after spread and losses) (based on 1-10.00 lot size)
My weekly goal is 105 pips, which I have done for the past few years with no problem, this week I am shooting for 500 pips by Friday.
AUD/USD News in 15min.
Will wait for that.
Well based on your trades, and if I want to do the same as you, I'll have to ditch the ADX as a momentum confirmation, because as soon as my confirmation arrives, you'll be getting out of the trades.
Well based on your trades, and if I want to do the same as you, I'll have to ditch the ADX as a momentum confirmation, because as soon as my confirmation arrives, you'll be getting out of the trades.
Even though I have indicators on most of my charts, I do not really use them to take the trade, I wonder why I even have them on???
I do like the 21ema, 50ema, and 177 lwma to show me the strength of a move and for supp/res levels.
I use those ma's on the 1m, 5m, 15m.
I would recommend to any trader trying to scalp, LEARN PATTERNS, learn price reaction to levels, learn rejection movement, LEARN THE GAME OF FAKE OUT, those are the killers.... and the big money makers.
Well i realized something you've been telling me and that I haven't payed proper attention. The size of the R or G string. It has to be > 35 pips to be a valid retracement entry right?
You got this value from experience?
Would it have to be a bit higher to trade in the London/US overlap?
Took +2 on the bottom bounce just before News.
2 lot entry = +4 pips.
I did not want to hold it, just grab and go, and wait for a REAL setup.
Well i realized something you've been telling me and that I haven't payed proper attention. The size of the R or G string. It has to be > 35 pips to be a valid retracement entry right?You got this value from experience?Would it have to be a bit higher to trade in the London/US overlap?
Yes experience has taught me nearly 90% how to trade, 10% is from following losers along the way.
Everything moves in segments, find those moves by color of Bars, G or R, then find where it says NO MORE, then take entry. When it goes G or R again, go with the trend.
Updated Weekly Totals Post #202
See how price broke the low before news, and after the news for AUD came out positive, EU found it's way back above that recent low area.
I should have just stayed LONG.
Forgive me for asking again, but do you have an opinion about the how long the string of R or G has to go in London/US overlap? i.e., pipwise?
50% or that move down has played out....
No shorts for me.
I will take longs if it dips and holds higher then the recent low or previous low.
This has been a big sell off day for 236 since yesterday.
The Daily is still RED, and my lower target at 3725 has nearly hit, missing by only 10 pips.
I am betwixt between the R BAR on daily, and just taking bounce longs on the 1m/5m lol.