This week, I think, is a good example of how the daily and the weekly can work well together. I took 100 pips of profit last night on the Daily, only to wake up and find my Weekly trade was up 300+! It would be nice had I used a larger TP on my ...

Part Time Wealth Building Trading System - Daily Scalping

As always, I'll be eager to hear what you have to say, tk. I'm up 455 on the GBPJPY for the week so far!

Part Time Wealth Building Trading System - Weekly Scalping

I think I'm the only trader out there than managed to not make any profit on the GBPJPY this week. Seemed every stop I placed got hit, and I made the mistake of moving my trailing stop up too high early in the week. Had I moved it to just BE ...

Part Time Wealth Building Trading System - Weekly Scalping

From a money management standpoint, here's an example of how $250 would be traded if you assume a risk of 2% on every trade: $250 starting balance * 0.02 = $5 If you use a 50 pip SAR, you would need to trade in lots that make 1 PIP = $0.10. On the ...

Part Time Wealth Building Trading System - Daily Scalping

Ah...multiple pairs. Are you having any difficulty managing all those different currencies?

Part Time Wealth Building Trading System - Daily Scalping

400!?! Where'd you squeeze 400 pips out in one night?

Part Time Wealth Building Trading System - Daily Scalping

I try to enter them as close to 2400 GMT as possible, which I believe is 7:00pm EST. I think that particular trade, I entered around 8:30-9:00. I wish there was a way to avoid slippage, but I guess "slip" happens. The only way to avoid it is to be ...

Part Time Wealth Building Trading System - Daily Scalping

I ran into some major pip slippage last night on Oanda on the GBP/JPY at around 4:15am EST. What about y'all? I had a SL blown right through...should've stopped me out at 50, but instead ended up being close to 100! Anybody else run into this issue?

Part Time Wealth Building Trading System - Daily Scalping

I'm trading one lot on the Daily system, and one on the weekly. I'm not trading multiple lots at multiple TP levels like other posters.

Part Time Wealth Building Trading System - Daily Scalping

I've been using a 100-TP on my Daily method trades on the GBP/JPY and have been having a great week so far. I'm up 393 through this afternoon. The Weekly on the same currency was up as much as 200+ last night, and then fell like crazy, and at the ...

Part Time Wealth Building Trading System - Daily Scalping

I've been using a 100-pip TP on my daily trades this week and things have gone quite well. I've already had two 100+ pip trades closed out, with only one stopout so far (this morning). I'm up about 180pips for the week, and it's only Tuesday!

Part Time Wealth Building Trading System - Daily Scalping

Honda, I tried that last week. The thing I discovered is that it's great for minimizing losses, but you really have to stay on top of your account, otherwise you'll miss your re-entry points pretty easily. I went back and looked and determined that ...

Part Time Wealth Building Trading System - Weekly Scalping

UT: Sounds like the Daily scalping method is right up your alley.

Part Time Wealth Building Trading System - Weekly Scalping

Honda: How often do you update your signline totals? I think that's awesome, and congratulations on your success so far. Question, though: What are your money management rules like? How much are you risking per trade?

Part Time Wealth Building Trading System - Weekly Scalping

I went ahead and closed my Daily trade for a cool 130 pip profit on the GBP/JPY this morning. I wasnt able to enter my Weekly trade until this morning (was away from the comp for the Super Bowl), but it is running at +31 for the moment. I have a ...

Part Time Wealth Building Trading System - Weekly Scalping

I hate to hear that Oanda was giving some traders fits like that. It's the only platform I can run here at work on my Mac, which would allow me to keep tabs and update my trades throughout the week. I bailed on the weekly trading Wednesday evening ...

Part Time Wealth Building Trading System - Weekly Scalping

As Lloyd Bridges might say, I picked a bad week to try trading the GBP/JPY. This week has been a real test of trading discipline, and I've still got a lot to learn.

Part Time Wealth Building Trading System - Weekly Scalping

TP = Take Profit. SL = Stop Loss. TP closes out a trade when you reach a specified level of profit, and a SL closes a trade when a certain level of loss is reached to prevent any further losses.

Part Time Wealth Building Trading System - Daily Scalping

I use a TP on the daily system of 60 pips for the GBP/JPY on my initial entry. I was able to capture 60 pips last night doing so. If that's stopped out, I tack the 40 pips I lost onto that for an even 100 TP on the next trade. The odds of that being ...

Part Time Wealth Building Trading System - Daily Scalping

So if I understand you correctly, you do re-enter all three lots heading the other direction when it reaches that point. For example: Let's suppose you've been in a long trade at 1.9325. It's now trading at 1.9450, so you've hit your 50 TP, you've ...

Part Time Wealth Building Trading System - Weekly Scalping