Two trades on my demo account today @10 pips each!
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- #285
- Sep 22, 2017 9:10pm Sep 22, 2017 9:10pm
Week 1 results trading G/U U/J and E/J on a real micro account 16 trades, 10W (8.7 pips avg) and 6L (6.5 pips avg) 48 pips profit total (7.5% account growth) Acc size on monday: £91.33 Acc size on friday: £ 98.15 So far so good!
Moreover, like Jenx said, when you know Price Action you could sense that sometimes trade may not work on your favor and its better to kill off the trade without any losses. So far that has led to my success during the past two weeks.
Personally, I try to keep my losses at around 3-5 pips using precise entries. When I see the trade going into my favor immediately upon entry like seeing a huge candle, I then move my stop loss really tight. This is a scalping technique I got from other forums to minimize losses.
Once again, Thank you very much Jenx!
- #286
- Sep 24, 2017 8:35am Sep 24, 2017 8:35am
- Joined Aug 2010 | Status: absolute beginner | 5,463 Posts
trading is like dancing, don't think and just listen to the music!
Jenx,
thanks for sharing your scalping idea. It refreshened my attitude towards scalping.
It is some weeks that I use it and I am happy. My twist of it:
1. I use an indicator "Buyers_Sellers_Indicator" that gives me an idea of the TP, aside waiting for a signal in the opposite direction
2. when I open a trade I apply an EA that starts martingale orders if the trade goes wrong. Until now it never went beyond the third level
In this way I have never had a loss!
thanks for sharing your scalping idea. It refreshened my attitude towards scalping.
It is some weeks that I use it and I am happy. My twist of it:
1. I use an indicator "Buyers_Sellers_Indicator" that gives me an idea of the TP, aside waiting for a signal in the opposite direction
2. when I open a trade I apply an EA that starts martingale orders if the trade goes wrong. Until now it never went beyond the third level
In this way I have never had a loss!
Jenx, thanks for sharing your scalping idea. It refreshened my attitude towards scalping. It is some weeks that I use it and I am happy. My twist of it: 1. I use an indicator "Buyers_Sellers_Indicator" that gives me an idea of the TP, aside waiting for a signal in the opposite direction 2. when I open a trade I apply an EA that starts martingale orders if the trade goes wrong. Until now it never went beyond the third level In this way I have never had a loss!
I've never tried Martingale. I do understand how it works and as such I can see how most of the time it would prevent you losing.
However I would be very wary as it will only take one too many "doubling downs" to wipe your account.
Good luck
Where price is now, it has been before, and will be again.
Textbook trade. Just few minutes ago. Waited patiently for the right moment. I used the new 2.5 Standard deviation the Jenx recommended last friday. Gave me a good signal for instant 10 pips profit. Though it was quite a risky trade as I sold into support but in my opinion, support was already broken {image}
Where price is now, it has been before, and will be again.
Hi,
must say i am impressed guys. Part time trader with main focus on 4h chart for the past years.
Tried this simple but good scalpingsystem with good result...Keep it simple i guess...
Yes there is more work to be done with scalping...Takes more time etc... But its pretty easy to catch 20-40 pips/day with this system AND your personal Top Down analysis...
Well done
must say i am impressed guys. Part time trader with main focus on 4h chart for the past years.
Tried this simple but good scalpingsystem with good result...Keep it simple i guess...
Yes there is more work to be done with scalping...Takes more time etc... But its pretty easy to catch 20-40 pips/day with this system AND your personal Top Down analysis...
Well done