1M & 5M Scalping System (Scalping Paradise) 21 replies
Simple Scalping System 64 replies
xPip Simple Scalping 27 replies
DislikedRISK... A love/hate relationship...Ignored
DislikedHow much risk are you taking on?
Does it vary depending on your confidence in each individual trade?
When do you decide to increase your lot size / $ per pip?Ignored
Just wanting to clarify on spread and commission with EFX. Based on the current exchange rate for the EUR/USD, commission for the EUR/JPY is more like 1.7 pips of profit--especially since EUR/JPY doesn't profit as much/pip as the EUR/USD (ie one lot gives $1/pip on EUR/USD, but only .87cents/pip on EUR/JPY) This can really eat into your profits if you don't get more than 6 pips, especially since I haven't seen many 0 spreads recently and then only for brief moments fleeting before I can punch my button...Normally I don't consider myself freetrading until I've seen that 1.7, then try to hit at least 6 for a close.Ignored
DislikedI just trade the 5 second chart as LT instructed. Someday I may go to ticks, but we are creatures of habit and since I've gotten somewhat comfortable with 5 seconds i keep it that way.Ignored
DislikedZig Ziglar said that we must read each thing 16 times in order to understand it properly and in depth.
Many little things are making different sense after screening time.
My 0.2 drachma
Disliked...Time to end!...Ignored
DislikedTrade what you see, not what you think. That's all there is to it.
S/L, Fibs, Pivots all OK to be aware of (what you think= subjective).
Flame= the real thing.Ignored
Great post on risk--probably one of the biggest account bashers out there. I use 3% sl's. I've just found that I'm comfortable with that. Someday when I get to 99% I'll probably change that, but then, when i get to 99% I'll probably be making enough money to leave it at 3%--and it never pays, especially in the forex market, to get greedy. My lot sizes don't increase or decrease--when trading live I believe we should be fully confident about every trade--it's that questionable trade that always bites harder--and I have enough confident trades that just don't go my direction to want any questionable trades...Philip Nel had a statement that went something like--better to not be in a trade than to be in a losing trade. As far as increasing your lot size--I think LT talked about this a while back--something like when your % of success is high enough after making 100 trades (LT correct me if I'm wrong in my recollection...).
DislikedAnyone having trouble with EFX Demo? I am currently in a profitable trade, but unable to exit. I normally just right click on the position and click "Close All Positions", but as the screen shot shows this option is unavailable right now. I also tried to cover buy simply buying back 200,000, but that does not work either.
Not really concerned as this is just a demo account, just wondering if anyone else is having issues with EFX demo accounts. More importantly, has anyone with live EFX accounts ever had issues like this?
DislikedI think that LT would be proud of the last few days' posts!
Dislikedthanks for the help. i finally got it!!! but the problem was with something else. i couldnt manually enter eur/jpy on ninja, i had to find it in the list of available instruments, then, i had to choose 1 min tf before jumping to ticks
btw, how many ticks are u using for charting during active trading hours? something that would be similar to 5 sec? thanksIgnored
DislikedI think I am gettin there on this Flame thingy...
Well, missed the nice one on the left...
But caught the one on the right for +5 pips...
No S/R levels in sight. Took it only on following the flame...
Thank you for your help thus far today hench and Canyouseeme. Very much appreciated!!
Dislikedok, i finally talked my boss into giving me 2 hours every morning for practicing and started watching rainbow this week. i used oanda for charting and mbt for execution. the first 3 days were a total disaster. micro lots seemed like not an option for me, i treated it like a demo: tried to use every possible aggressive entry.Ignored
DislikedThis thread is starting to heat... Will hopefully be glowing white hot soon... :Ignored