"Every battle is won before it is ever fought." - Sun-tzu, The Art of War.
Trying scalping with a 1000 bucks - Scalping is expensive! 39 replies
Indicators and Rules for Simple Method of Scalping GBP/Jpy on 5 min chart 18 replies
1M & 5M Scalping System (Scalping Paradise) 21 replies
Simple Scalping System 64 replies
xPip Simple Scalping 27 replies
DislikedWell, that is just an example of the trade that I am currently in.
I enter a bit early as you can see.Ignored
DislikedAndy, your entrance here was countertrend, was it based on the fact that rainbow spine started to compress?Ignored
DislikedBy the way Linuxtroll, Italianfx ask me to show the trade so I show it, but of course if it is ok with you. Let me know if it is not.
I am such a newbey compear to you when it comes to Linuxtroll's Rainbow .Ignored
DislikedAndy that entry was excellent if you were scalping.
My only concern is scalping the GBPUSD is very dangerous. i've seen many accounts blow up because fading GBPUSD. I prefer to fade eurusd, usdjpy. Spreads are cheaper and price chops more reducing risk of runaway trade.
nonetheless great entry and good trade. exit also was great. i cannot tell what time of day this was. if daily range had been expended then this was a great trade all around.Ignored
DislikedEUR/JPY!
Anyone else?
Is there another pair as friendly as that one
that still moves?
FXSIgnored
DislikedThe thing about losses, I found the way to controll it. I can not cut losses short like Linuxtroll suggests. He saying if it move goes against you then just get out.Ignored
DislikedThanks for posting your trades. I've seen your posts around
for quite a while and you often spoke highly of LT's Rainbow.
Your posts got me interested in it. Many thanks!
IMO you faded that trade pretty hard! I have read some really
old-school books that define scalping as always referring to being
a countertrend method of trading. From what I gather from more
recent sources it's usually trading short bursts, with or without
a pullback, basically along with a trend, if you can. Everyone trades
in their own way, and you can certainly be successful with yours!
But, I believe that when LT mentioned jumping out quickly when
the trade turns on you, that would be easier to do if you're
doing "trend-following" scalping. When you fade the market what
choice do you have except for waiting for it to turn around.
My heart isn't strong enough for it! That's just me, Andy!
Great to see your posts!
FXS
P.S. Like always, I hope that LT will come over and give
me a kick in the pants if I say something that misrepresents
what he's trying to say!Ignored
DislikedLinuxtroll how do you keep the price scale for the 1 min rainbow?
Always in a row of 10 or also in a row of 5?
thanks!Ignored