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- ElectroGypsy replied Jun 23, 2014
Sorry Pipsi, I missed that chart of yours. Good work! That was a solid setup (in my opinion). The 15 min and 1hr charts provided nice background for the trade. The only real negative to the setup was that the overall hourly trend was up. It looks ...
- ElectroGypsy replied Jun 23, 2014
Well said. It's often overlooked that many of the big players don't even use charts when they start their careers (at least not in FX). Learning what these traders glean from the tape and the DOM can yield many good insights into how to use a chart ...
- ElectroGypsy replied Jun 23, 2014
Hello Pipsi, It's hard going into detail about every single chart, but what 2121 says is correct. Pull up all of rifid's charts and compare them to the ones posted. Always always always price needs to be heading closer towards your ...
- ElectroGypsy replied Jun 22, 2014
Just to clarify, the spread is only added to your entry if you are going long. If short, only add the 0.2. This is so you are only "paying" for the spread one way per trade. Best, EG
- ElectroGypsy commented Jun 17, 2014
If only I had bought back in 1861....
- ElectroGypsy replied Jun 17, 2014
I spot a potential short setup forming on NU. The selling momentum since the start of the LS may warrant a scalp at least. EDIT: Potential UJ scalp setup forming as well.
- ElectroGypsy replied Jun 17, 2014
Thank you for the heads up. Completely forgot we had news then.
- ElectroGypsy replied Jun 17, 2014
Morning everyone! I missed that one too. Definitely has the potential to be an easy 20 pips.
- ElectroGypsy commented Jun 16, 2014
Central banks have been involved in the forex market for a looonnnggg time now, so it's really hard to say what "bad" effects they on the market at all. They are the big fish in the pond. It pays to listen when they act.
- ElectroGypsy replied Jun 16, 2014
Rifid, Thank you for the chart. It's very helpful. What are your thoughts about the GU trade earlier? Did you take it? If not, what was your reasoning? Just trying to get a good understanding how you approach your own strategy. Best, EG
- ElectroGypsy commented Jun 16, 2014
He probably took trading advice from FF.
- ElectroGypsy replied Jun 16, 2014
I believe several in on the GU, but yes, I completely agree. Don't see any other setups present. My guess is today will be more of a consolidation day given the moves we saw on Thursday and Friday across most pairs. Just gotta wait for the easy ...
- ElectroGypsy replied Jun 16, 2014
Hey Orid, I see both of those setups. They seem technically to be valid, although they don't seem to be very clean scalps. The EJ setup is trading into consolidation (there isn't any sort of strong trend present), and UJ is around some 4hr ...
- ElectroGypsy replied Jun 16, 2014
Nice. I'm watching a similar setup on GU. My hunch is that if that if sellers break the 5 min support, the gap will be filled. Should be a quick scalp if it happens. Oops...meant 20 pips. The 5 digit broker stuff still messes with my head. 1:40 RR ...
- ElectroGypsy replied Jun 16, 2014
Agreed. I think the point of the scalping strategy was that it's for anyone who's doesn't have the time to wait for 200 pips to occur or want to trade CT. To the best of my knowledge, the scalping strategy still requires that you have to wait for ...
- ElectroGypsy replied Jun 13, 2014
Hello Driven, This system works well. It requires a level of awareness that comes with any strategy that produces good results. I think the only real "problem" with this style of trading is that it's deceptively easy. Without a trained eye, you can ...
- ElectroGypsy replied Jun 12, 2014
Hey danjuma, I've searched around for quite some while and couldn't find it either. In all honesty, it wouldn't surprise me if he dropped the idea. He has apparently stated that his biggest regret was going too in-depth with his own system and not ...
- ElectroGypsy commented Jun 10, 2014
Too bad most of the action has likely already happened for the day.
- ElectroGypsy commented Jun 4, 2014
The lesson the article alludes to is key: sometimes it's better to be late than early. The same will likely be true with the ECB report tomorrow.