Simple Scalping

Quoting Jenx

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{quote} I plot my levels on M15 if possible. I don't trade off those levels.I use them to prevent me trading into them. So far as when I consider them no longer valid,,, It depends on the TF; Below the orange line represents support. Its on the M15 chart so I would only consider it no longer valid if an M15 candle CLOSED below the purple line ( the low of the candle that created the support level) {image}

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Quoting Jagg

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{quote} 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). {image}

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Quoting Jenx

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Hello all. Simple scalping. Thought I'd share the strategy I use. Scalping suits me. I'd rather be out of the market more often than in it. 1 Min chart, Any pair, low spread. Bollinger bands 25:2:Close Smoothed MA 120 High Smoothed MA 120 Low The double MAs are handy when price is there. Stops you wondering where price is closing and gives a bit of a buffer. Direction- BB ma in relation to main MAs Sell off upper band TP lower band. Vice versa for long If market is sideways, still valid but better value when MAs start to trend. Keep an eye on major...

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Quoting atuque1

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{quote} Hi Jenx, Thanks for sharing this simple scalping technique with TF1mins. I would like to know if we have to see the big trend on higher TF before we scalp on TF1minutes. This is because sometimes whipsaw price happened on TF1minutes. Thanks. -ATUQUE-

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Quoting atuque1

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{quote} Hi Jenx, Thanks for sharing this simple scalping technique with TF1mins. I would like to know if we have to see the big trend on higher TF before we scalp on TF1minutes. This is because sometimes whipsaw price happened on TF1minutes. Thanks. -ATUQUE-

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Quoting Jenx

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Had a day trading a basket of currencies using this method and it just doesn't do it for me. I lost 1.3% on the balance and I felt I had moved away from what makes the method consistently profitable. When I watch 1 or 2 pairs and bide my time, I don't often get it wrong, however when I'm flying through a dozen or more pairs trying to identify opportunities, not only is it labour intensive, it loses its edge completely. So I'm not going to throw good money after bad and I'll go back to as I was with my main account. The account I have set up as a...

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Quoting tommyhawk

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Pretty easy to see where I'm going UJ long. 112.30-35 stop below 112.24.

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Quoting Jenx

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{quote} Nice one. Remember the FOMC stuff in 2 hrs could create some big moves.

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Quoting tommyhawk

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{quote} Yup, not looking for a ton on this one because I think it will start to chop before FOMC.

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Quoting Anf3r

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Thanks Jenx for this system, I've been following the forum and trying it on demo, I use it with the following rules: *Indis on your original settings. For long trades: 1. Price under Lower BB 2. 120 SMMA over Upper BB 3. 120 SMMA should be over Upper BB for at least 10 candles 4. Upper BB - Lower BB > 10 pips 5. To take trade check PA and open trade when price surpasses high of the signal candle. Also fewer signals but a lot better, although PA is critical in taking trades. For shorts is the opposite. Also, about the scalping mentality I...

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Quoting Jenx

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{quote} It doesn't do any harm to look at the higher TFs to get a feel, but just bear in mind that we are only taking small moves. It's easy to look at the H1 chart and think its overbought/sold and dismiss the trade whereas a move of 10 pips in that tf is not such a big deal so long as its not trading into s or r

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Quoting tommyhawk

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Pretty much as easy as it gets there on that UJ short just now. +8. Caught that one right at the top 112.32 and got out when it hit 112.23. Reason - lower BB and clear support which may yet break but why force it with NY coming in.

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