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is it feasible to scalp gbpjpy?? how??

  • #61
  • Oct 13, 2018 6:49am Oct 13, 2018 6:49am
Quoting jmtini
{quote} Thank you for revealing your template. Certainly you must be doing something right because your TE doesn't lie! Your results are excellent and like Profitfarmer you are (I think) taking 1 - 3 quick pips out of the market in your trades which are obviously highly leveraged which is building your account balance very nicely indeed. I note too that your losses are always very small - I presume that you are closing the trade if, and as soon as, the price goes back into the "box". A very clever strategy indeed and it obviously works! Really well...
Thanks a lot,but i dont belive i will be able too gain 3-4% a day everyday it will be loosing days/mayby weeks,but as you say i close my losses fast 0.5-3 pips depending on pairs traded,but have as said before dead mans stop at 5pips...Too make profits of 1-3 pips pr trade generally you need a winrate over 60-70% if i can keep it over 65% i am happy i am at 83 now on a little over 70 trades,but i dont think i will be able too keep that for say a 1000 trades...There will be losses,loosing days,weeks,but must keep them at the minimum....I trade way smaller lots now than i used too before i always traded 1% pr pip on 500 account i traded 0.5 lots on a 600...0.6 and soo on ,but too be able too average in on reversals i need smaller lots...I really dont care abaut% gain ore dollars gain its all abaut green pips too me as long as there are green pips you can trade maximum leverage all the time and still not loose,but gain a lot.....There are no laws saying you cant make 2000 of a 500 account in a day 50-100 pips and you can be way past that you just need too take the blow up if happens,but if consistant on green pips that will not happen...Profitfarmer are better than me too take more pips pr trade i think hes targets are 3-10 pips he told me once,but now i am on the 1 minute its easier for me too get more pips pr trade also.....I wish you the best trading my indis and dont be afraid too ask if wondering anyting....Keep it green
You win some you loose some do both with peace of mind
  • #62
  • Oct 13, 2018 9:13am Oct 13, 2018 9:13am
Quoting magne999
{quote} Thanks a lot,but i dont belive i will be able too gain 3-4% a day everyday it will be loosing days/mayby weeks,but as you say i close my losses fast 0.5-3 pips depending on pairs traded,but have as said before dead mans stop at 5pips...Too make profits of 1-3 pips pr trade generally you need a winrate over 60-70% if i can keep it over 65% i am happy i am at 83 now on a little over 70 trades,but i dont think i will be able too keep that for say a 1000 trades...There will be losses,loosing days,weeks,but must keep them at the minimum....I...

Thanks. Yes makes sense to trade lower risk I suppose especially when one is not using a fixed stop loss as a rule except bale-out final stop of course and 5 pips sounds good.

Actually I am wondering about your broker. Do they add commission to a trade? Tickmill charge around .5 of a pip but of course the spreads are good especially on the more exotic crosses. So on GBPAUD (for instance) the spread including commision adds up to just over 2 pips. That's a lot more then EU but the price generally moves an awful lot quicker! I notice that you're trading the more popular pairs like GU, EU, UJ, UC - do you think it's better to scalp slower moving but lower spread trading pairs?

My experience with scalping EURUSD is not good - I think that it's very manipulated by the big boys to wipe out smaller fish if they can. I really do prefer EURCAD. Comparing the two early european morning charts from yesterday is quite revealing - EURCAD the much nicer and cleaner chart and had 3 lovely entry points for a few nice pips. Of course it was a lot more bearish!
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  • #63
  • Oct 13, 2018 9:46am Oct 13, 2018 9:46am
Quoting jmtini
{quote} Thanks. Yes makes sense to trade lower risk I suppose especially when one is not using a fixed stop loss as a rule except bale-out final stop of course and 5 pips sounds good. Actually I am wondering about your broker. Do they add commission to a trade? Tickmill charge around .5 of a pip but of course the spreads are good especially on the more exotic crosses. So on GBPAUD (for instance) the spread including commision adds up to just over 2 pips. That's a lot more then EU but the price generally moves an awful lot quicker! I notice that...
You can PM me abaut my broker and i will refer you...They have fixed commision at 2 dollars pr lot for V.I.P its for clients with over 25000 deposit,but if i refer you you get the V.I.P on ECN account 200 dollars deposit minimum its 4 dollar pr lot standard....And deposit is by bitcoin ore wiretransfer...withdrael is with PAYPAL...They have offices in London soo they are not some offshore brokers,but have stayed unregulated doo too the ESMA`S maximum leverage bullshit soo leverage is 200:1 changeble too 400:1 in chat...I have talked too many of clients and nobody having any troubble with them whatsoever...Been in buisness since 2012...I got a pm from a guy here on FF that he needed IB refferal too get ultralow commision "2 dollars pr lot" and i did and he got it...Doesnt cost you anyting i only get a small fee from them on the trades you take....Its not because of that i say you need refferal its just a policy they have...And for spreads EUR/USD and USD/JPY 0.1-0.2 spread so a total of 3-4 dollars pr lot total and for GBP/AUD/NZD-USD 0.3-0.5 spread a total of 5-7 dollars pr lot and for exotics 0.5-0.9 so a total of 7-11 dollars pr lot....Its a must taking out 1-3 pips that you use a broker with low commisions/spread and there are no one with lower commsion than this there are 5 ore 6 others with same,but they are in moldova and countries like that and i like it too be in western europe ore australia doo too ESMA`S bullshit there arnt many brokers in Europe that keep the leverage at a point that you can make any money of a "small" account...I have heard that many have started too add pro accounts for traders too help them get higher leverage with looking between fingers on criteria of being a pro trader....I dont know if ESMA are doing controls on this ore how it is....But it is just too stay unregulated i mean what does the regulation really doo for us traders anyway....Being placed in London they can just as easily come up on fraud charges if they mess with ore money...That is why its importent too have a broker not offshore....PM me and i will help you if interested...
You win some you loose some do both with peace of mind
  • #64
  • Oct 13, 2018 3:19pm Oct 13, 2018 3:19pm
Quoting magne999
{quote} You can PM me abaut my broker and i will refer you...They have fixed commision at 2 dollars pr lot for V.I.P its for clients with over 25000 deposit,but if i refer you you get the V.I.P on ECN account 200 dollars deposit minimum its 4 dollar pr lot standard....And deposit is by bitcoin ore wiretransfer...withdrael is with PAYPAL...They have offices in London soo they are not some offshore brokers,but have stayed unregulated doo too the ESMA`S maximum leverage bullshit soo leverage is 200:1 changeble too 400:1 in chat...I have talked too...
Hi magne999

Wow those spreads on GBPAUD/NZD etc., sound very good indeed! I shall PM you although I wont be able to open another trading account right now. But certainly I shall be looking to change broker in the near future if their trading conditions are that good! Tickmill is certainly a nuisance when one is scalping GA or GZ (for instance) even though their spreads are a lot better then most. Starting a scalping trade 2 pips down is a big drawback especially if the trade goes against you! I have "pro trader" status but had to fight with them to get my status changed. Before they changed it I did trade with Eightcap (Australian broker) who offer 500:1 but their trading conditions are not so good. For instance one cannot place a limit order very near to the price - has to be at least 3 -5 pips away! Also I'm sure that they are using anti-scalp algorithms. So anyway, I switched back to Tickmill when they changed my status.

I agree totally that unless one can get at least 400:1 leverage trading account then scalping is a complete waste of time. Anyway will PM you tomorrow.

Thanks for the interesting info
  • #65
  • Oct 13, 2018 3:24pm Oct 13, 2018 3:24pm
Quoting jmtini
{quote} Hi magne999 Wow those spreads on GBPAUD/NZD etc., sound very good indeed! I shall PM you although I wont be able to open another trading account right now. But certainly I shall be looking to change broker in the near future if their trading conditions are that good! Tickmill is certainly a nuisance when one is scalping GA or GZ (for instance) even though their spreads are a lot better then most. Starting a scalping trade 2 pips down is a big drawback especially if the trade goes against you! I have "pro trader" status but had to fight with...
I even heard from that guy i talked too that they had a promo going with 1 dollar pr lot...I havent asked in chat because 2 dollars pr lot is really not much too think abaut....II will hear from you then ...Have a good weekend still..
You win some you loose some do both with peace of mind
  • #66
  • Last Post: Oct 13, 2018 4:14pm Oct 13, 2018 4:14pm
What makes the insidebars work soo good is that in a trend it usually i say usually a breake of higher highs in an uptrend and breake of a lower low in a downtrend soo in addition too being a insidebar its also a mini breake out USUALLY not always....But you can easily filter out thoose soo you only take the breake of higher highs and lower lows...And follow currencie strenght as well as shortermtrend and all over trend...Gives you a edge...
You win some you loose some do both with peace of mind
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