I very rarely scalp.....I use to in my early days, now it really has jump out on me to take a scalp.....it has to be really obvious one....
What do you consider scalping?
Is NFA doing enough? 22 replies
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DislikedHi everyone,
I cannot respond to all the questions here but I will tell you this. I will explain my strategy here on this thread in the next few days. Any time from now threw jan 3rd.
My system is not complicated. I execute a trade if all conditions are met. I do not get up at a specific time in the morning.
for example...
Yesterday, I got up at 7:55 am est. Checked my trends and thought I'll jump right in because I saw a new trend starting. I was hoping to see more movement but it didn't happen for a few...Ignored
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Jerry,
I agree with you on the U.S. AND U.K. session, we here on this side of the ocean are missing the best trades......
I used to wake up 2.30am and trade the U.K. session...but that was back then(8 years ago).....now I cannot do it no more, it gets to my system......
I am even thinking to relocate to Europe because of this.....lucky my family agree'sIgnored
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I moved to Asia for this reason. It's even better than Europe because here the London open is at 13h/14h/15h depending on your location.Ignored
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Yaaa...that is good if you like to sleep in the mornings.....me I am like a rooster....if the sun is up I get nervous in bed......so 7.00am on I am game...
But thank's for the info my friend.....Ignored
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Yaaa...that is good if you like to sleep in the mornings.....me I am like a rooster....if the sun is up I get nervous in bed......so 7.00am on I am game...
But thank's for the info my friend.....Ignored
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Pipaholic,
You've been trading for 20 years?
Do you trade full time?Ignored
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I use too.....I own a beverage business so I spend about 4-5 hours a day trading(and 2-3 playing around ) , but I am going to come back full time cause I prefer trading than a conventional business....
It is a lot easier to work with the computer than with people*.....the only reason I am not full full time "at the moment" in trading is cause my company partners would freak if I leave them since I created the products in the company....but I gave them 1 year max to take control of the business cause...Ignored
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I've been trading for 7 years. I'm a musician and travel the world with my group. I have quite a bit of down time when traveling and wanted to learn something new. I also wanted to see if I could find a place to put my money. I was naive and got carried away. I lost $35K in the forex my 2 year. I had a weird inconsistent S/R trading system of my own that lost 30k of that 35k.
It was a great experience at first. I opened a 20k account and grew it to 40k in 2 weeks. I was stupid and had a goal to grow the account...Ignored
DislikedYou sir are an idiot, and you don't have a dam clue what you are talking about.
You can prove me wrong by posting your trade explorer REAL account and show your 20-50% a week. If you can do it for 8 weeks I'll retract my statement.Ignored
DislikedSorry for the words, I didnt choose the correct words for my post, what I really wanted to say is that with a compounding scalping strategy, 20-50 % in a week can be done easily. But not on a long-term.
I agree that on long-term, you will have bad trades and you will lose money. Losing money is part of the game.
But I believe in what Einstein says, the compound interest is the MOST POWERFUL force in the universe.
Lets just ignore the system you use, it doesnt have to be scalping nor something else, but what it has to be is a system that offers...Ignored
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I understand what you are talking about when you say you upped the positions and killed the account in 3 trades.....
Emotions is the worst enemy......I have lost a lot of money because of it.....
That is the beast we have to tame in order to go ahead.......I am very scarred even to mention this but now I think I have gone through
so much pain that I almost trade like a robot.....I just click....or my ea takes care of it.....SERIOUSLY no maybe or if's.....I do not allow myself sometimes to
even think , click ....gone...Ignored
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Pipaholic,
I really like how you think. It sounds like you have an open mind to trading. I think it's because you've been around for a while. Many people think I'm crazy for trading like this but really I feel it's one of the safest ways to go about trading. It's not because my TP is small but because It allows me to stay away from fear. I know that most of my trades will be winners if I trade with the medium to large trend looking for entry's on the smaller time frames. If I do this I'll most likely come out with my...Ignored
DislikedSorry for the words, I didnt choose the correct words for my post, what I really wanted to say is that with a compounding scalping strategy, 20-50 % in a week can be done easily. But not on a long-term.
I agree that on long-term, you will have bad trades and you will lose money. Losing money is part of the game.
But I believe in what Einstein says, the compound interest is the MOST POWERFUL force in the universe.
Lets just ignore the system you use, it doesnt have to be scalping nor something else, but what it has to be is a system that offers...Ignored
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Pipaholic,
I really like how you think. It sounds like you have an open mind to trading. I think it's because you've been around for a while. Many people think I'm crazy for trading like this but really I feel it's one of the safest ways to go about trading. It's not because my TP is small but because It allows me to stay away from fear. I know that most of my trades will be winners if I trade with the medium to large trend looking for entry's on the smaller time frames. If I do this I'll most likely come out with...Ignored
DislikedI think your TP is small because you dont want to risk your friends account ... but placing a big SL will risk it more ... so dont bother placing SL ... just keep feeding your account with money whenever market is against you and just wait till your TP triggers up ... just my thoughts though ...Ignored