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Simple Scalping

  • #301
  • Sep 26, 2017 4:15am Sep 26, 2017 4:15am
is there a template for your strategy jenx
  • #302
  • Sep 26, 2017 6:26am Sep 26, 2017 6:26am
interesting, looking for something like this, my systems all med term stuff.
so this is EURUSD 1 min, a valid short?
Attached Image (click to enlarge)
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myfxbook DOT com/members/TopTradeBot
  • #303
  • Sep 26, 2017 6:34am Sep 26, 2017 6:34am
That entry should work for a short scalp. I wouldn’t get greedy and expect it to break the low with NY coming in and expecting to get a better price. Good luck. I'm looking for a retracement back up around 1.1810 for a possible short entry.
  • #304
  • Sep 26, 2017 6:57am Sep 26, 2017 6:57am
Quoting TradeForex1
interesting, looking for something like this, my systems all med term stuff. so this is EURUSD 1 min, a valid short? {image}
That turned out to be a good trade for 12 pips.
  • #305
  • Sep 26, 2017 7:17am Sep 26, 2017 7:17am
Really great scalping strategy Jenx, I'av been testing it for a while now and its been quite accurate. Tho I'av included fractals to help with placing my stop loss
I made several trades today and ended up having one drawback. The pics below show three win trades
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  • #306
  • Sep 26, 2017 10:18am Sep 26, 2017 10:18am
How unfortunate. I got stopped out several times today. This particular trade went to almost 20pips. SL was prolly too tight. What do you guys think?
Attached Image (click to enlarge)
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  • #307
  • Sep 26, 2017 10:28am Sep 26, 2017 10:28am
Quoting unnamed21
How unfortunate. I got stopped out several times today. This particular trade went to almost 20pips. SL was prolly too tight. What do you guys think? {image}
Probably yes, your stop was too tight, but we're speaking scalping here, so don't beat up yourself too much. If i can shed my 2c that looks like a perfect example of stop hunting. In hindsight one might consider reentering on the next bar after the stop...
  • #308
  • Sep 26, 2017 10:29am Sep 26, 2017 10:29am
Quoting unnamed21
How unfortunate. I got stopped out several times today. This particular trade went to almost 20pips. SL was prolly too tight. What do you guys think? {image}
I would say stop too tight.

I only took one trade and let it run (it never comes back to BE, made 4 exits). Missed last long entry (blue arrow is indi from here, green arrow is my TMA variant).
Attached Image (click to enlarge)
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  • #309
  • Sep 26, 2017 10:50am Sep 26, 2017 10:50am
The SL is for protecting your account, but while protecting your account don't forget to protect your SL, if you know what I mean!
  • #310
  • Sep 26, 2017 12:38pm Sep 26, 2017 12:38pm
Quoting unnamed21
How unfortunate. I got stopped out several times today. This particular trade went to almost 20pips. SL was prolly too tight. What do you guys think? {image}
Yes, your SL was too tight. 2 pips was too tight.
I always trade without SL, because always hunt for my SL. But I have to monitor closely, when it really goes the other way, I will manually exit.
  • #311
  • Sep 26, 2017 10:08pm Sep 26, 2017 10:08pm
Quoting unnamed21
How unfortunate. I got stopped out several times today. This particular trade went to almost 20pips. SL was prolly too tight. What do you guys think? {image}
I wouldn't say your SL is too tight, afterall who can define how tight is considered tight?
Personally, I will generally plus/minus 2 pips to the place where my stop is identified to account for overrun. Often then not, they will probably end up to be about 4 to 6 pips. Also my general rule is a TP of 1 pip then SL is 2 pips and if TP is 3 then SL will be 6 pips, I know many is going to bomb me for this R:R ratio, but if I am scalping I usually dun look at R:R but on win rate instead.

Quoting hatemfxg
The SL is for protecting your account, but while protecting your account don't forget to protect your SL, if you know what I mean!
Define SL = SL should be placed at a place that it will not be hit
  • #312
  • Sep 27, 2017 4:14am Sep 27, 2017 4:14am
Thank you JenX for this simple scalping method...
This method has minimized my 5-min trading method, which I use 1SMA & 2EMAs on 5 mins.
Today only I have got 40 pips (on 4 trades - 10pips TP each trade)... And I run on real micro account.

I will try to capture my tradings using this simple scalping of yours, because right now I use my handphone only to trade.

I will update again soon...
  • #313
  • Sep 27, 2017 10:07am Sep 27, 2017 10:07am
any TE for this strategy?
some good trades, some bad.
would be great to know if someone gettting an egde
myfxbook DOT com/members/TopTradeBot
  • #314
  • Sep 27, 2017 10:15am Sep 27, 2017 10:15am
UJ and EU today
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: EURUSDM1 MON.png Size: 74 KB
Where price is now, it has been before, and will be again.
  • #315
  • Sep 27, 2017 10:23am Sep 27, 2017 10:23am
Trying UJ short right now. Got in 112.71
  • #316
  • Sep 27, 2017 10:36am Sep 27, 2017 10:36am
Quoting TradeForex1
any TE for this strategy? some good trades, some bad. would be great to know if someone gettting an egde
TE?
i am getting an edge.
trading is like dancing, don't think and just listen to the music!
  • #317
  • Sep 27, 2017 10:36am Sep 27, 2017 10:36am
Closed position +1. No follow thru. Decent day though.
  • #318
  • Sep 27, 2017 10:45am Sep 27, 2017 10:45am
Good luck with that one Jenx, I think I was a bit early. I'm eyeballing EU long around 1.1741 and that'll be it for today.
  • #319
  • Sep 27, 2017 10:53am Sep 27, 2017 10:53am
Quoting tommyhawk
Good luck with that one Jenx, I think I was a bit early. I'm eyeballing EU long around 1.1741 and that'll be it for today.
I deleted the post as I realised I was "sharing " a trade . Don't want to get into that.
Had some good trades today so also need to be wary of getting greedy and handing it back.
Been there in the past.
Where price is now, it has been before, and will be again.
  • #320
  • Sep 27, 2017 10:55am Sep 27, 2017 10:55am
Quoting Jenx
{quote} I deleted the post as I realised I was "sharing " a trade . Don't want to get into that. Had some good trades today so also need to be wary of getting greedy and handing it back. Been there in the past.
Oh sorry, did you not want trade sharing on the thread? I can delete my post (I think) and won't do it again.
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