well as far as scalping goes, these are my experiences so far:
- if you can idenifty good levels (such as fresh levels) on the higher screens and trade them off the lower time frames for first reaction (such as M1 and M5), chances are high to profit at least 6 pips off it. there are almost 50% trades that dont work, but if you take your profit early (6pips), you set ur SL to +1 pip and let it run... some of them work, some of them you get stopped out and then it rallies in your direction which is frustrating, but other ones wouldve brought you a drawdown, if you had sticked to your goals. so especially if you are scalping it wouldnt make much of a sense to hold on trades without taking partial profit.
- since i cant trade during weekdays (london session) because of work, ive tried to trade lots of intersting levels off pending orders: my results are mixed, i would say that they offer at least 50%, but often i close my trades before i hit the R:R points, thats why the all in all result wasnt that awesome.
In the end it comes back to you: Are you a really patient trader, do you have loads of time? If you are unpatient and you have lots of time, you really should consider scalping, because there are many opportunites, like every few minutes there are levels to trade. Even medium setups offer a few pips during a session.
But i would also be interested to know more stats of C-12 since my goal is to get really good at scalping the M1 off my HTF marked levels.
- if you can idenifty good levels (such as fresh levels) on the higher screens and trade them off the lower time frames for first reaction (such as M1 and M5), chances are high to profit at least 6 pips off it. there are almost 50% trades that dont work, but if you take your profit early (6pips), you set ur SL to +1 pip and let it run... some of them work, some of them you get stopped out and then it rallies in your direction which is frustrating, but other ones wouldve brought you a drawdown, if you had sticked to your goals. so especially if you are scalping it wouldnt make much of a sense to hold on trades without taking partial profit.
- since i cant trade during weekdays (london session) because of work, ive tried to trade lots of intersting levels off pending orders: my results are mixed, i would say that they offer at least 50%, but often i close my trades before i hit the R:R points, thats why the all in all result wasnt that awesome.
In the end it comes back to you: Are you a really patient trader, do you have loads of time? If you are unpatient and you have lots of time, you really should consider scalping, because there are many opportunites, like every few minutes there are levels to trade. Even medium setups offer a few pips during a session.
But i would also be interested to know more stats of C-12 since my goal is to get really good at scalping the M1 off my HTF marked levels.