[panguFX]

Originally Posted by fashola

personally i think that scalping is gambling ever if you set s&r, draw trend lins, or fib. because there can alway be a breakout of any of your parametre.
5 mins chart is alway fast and respond easily respond to market spikes. you may be caugth in a fake out too. it is better to get simple indicators that can catch early trend and show you it is over.
what i do is i marry both the lagging indicators with the oscillators.

5 min chart is way too slow for scalping

[fxRichard]

I agree my long term chart is a 10 second chart and that seems soooooo slow lol

[Bud Fox]

Back in the old days... lol... I used to think a 1 min chart was too fast. Now it can be like watching paint dry. The definition of scalping appears a little broad - "short-term" is perhaps more appropriate for most.

[fashola]

Originally Posted by panguFX

5 min chart is way too slow for scalping

my appraoch is that as a trader you build your own system and test run it on your paper trade again and again , to understand everything about it. when you discover it pit falls , you improve on it, keep a journal of all your trade each day.
the best system you can build is the combination of leading and lagging indicators. this will safe you against fake outs and it will help you to catch a trend. after you have done this then write your entry parametre and exist parametre and religiously follow it. as technical trader you want to be sure of news hour and stay out of the market, because news release can rubbish your analysis , until the market retraces back to it normal trend for the day.
hedgin, and scalping is like been caugth in a cross fire, that be be very risky , no matter your money management

[fashola]

as a follow up of building your own system, the candle stick is a leading indicator, i advise that it shouldn't be traded alone, because alot of flake out comes with it, but the introduction of the parabolic SAR will flow down hypes for you. the combination of parabolic SAR that is a lagging indication with candle sticks will naturally streamline fakeouts, making you to enter the market at a good price , catching a sure trend especially on a one chart, that is neither too fast or slow for an intraday trader.
if you paper trade this sytem for at least one month you can understand it advantages and disavatages , keeping a journal , the system will describe to you by itself your entry parametre and exist parametre.

never believe that there is an holy grail some where for fx , just build your sytem and test run it until you are satisfied.

[panguFX]

Originally Posted by fashola

hedgin, and scalping is like been caugth in a cross fire, that be be very risky , no matter your money management

I disagree, scalping can be safer than other styles depending upon your method.

also, i think you might be posting in the wrong thread, since this is a scalping thread.

happy trading

[fashola]

Originally Posted by panguFX

I disagree, scalping can be safer than other styles depending upon your method.

also, i think you might be posting in the wrong thread, since this is a scalping thread.

happy trading

i am a strong believer of trading your system. i believe i should be entitled to my opinion . if you have a method of scalping. may i ask you how much have you made with scalping?

[fxterrapin]

If this thread dead already?

I would like to hear from some tick / 10 sec scalpers and how they are currently doing? I plan on putting in some 5 sec chart screen time until I get a feel from the PA. What market times would you recommend for this?

[panguFX]

Originally Posted by fxterrapin

If this thread dead already?

I would like to hear from some tick / 10 sec scalpers and how they are currently doing? I plan on putting in some 5 sec chart screen time until I get a feel from the PA. What market times would you recommend for this?

london open
new york open

[fxterrapin]

Originally Posted by panguFX

london open
new york open

It seems the G/J could be scalped outside of normal hours. The action on the 10 sec is very smooth.

[panguFX]

Originally Posted by fxterrapin

It seems the G/J could be scalped outside of normal hours. The action on the 10 sec is very smooth.

G/J and G/C are both rollercoasting beasts at 1-5 am EST.