FXCorrelator - Scalping system

questoin for all of you scalpers coming back in at 77 (now)....why ? .....hahahaha

dont even think about reselling cable unless it gets back into 80s

Nice morning on Forex now so far ....again cable my go to pair.....Swissie was a sweet buy but why take second best ?

tried to give a little insight here in this chart .....notice the bull fake play from 6am by Cable then settled into selling

i actually couldnt get in from 3020s whch stepping back now was crazy slow.....but my actual trigger charts just werent telling me to play.....they keep me out of a lot more trades than missing sucessful ones so no complaints (something that a consistent trader must follow or fail)

anyway no harm done ....ive had 2 decent zones to scalp ...first was a little tight ......only 2 x 5-8 pip scalps ...then second one was a cracker ......70 pip drop zone ...including a 60+ pip scalp move that opened up nicely .......and aother 5-8 pipper ......1 fail so far ............so no complaints

scalping is hard....but the only way to make serious money trading with small accounts ......5 pips is a max stop for me off off 2% bank.......do the math on a 60 pip winner......thats how you start to make decent % returns per week / month / year etc ..........

but its bloody hard and will take years to find decent strategies ......plus you have to be at the screen of course ...i cant really EA what i do (god ive tried over the years with some great programmers)......as still too much "discretionary" decision making coming from me ......

good trading
N

when you feel you are getting better (ie already profitable consistently) i would still recommend finding mentors though in your specific area.....

a good mentor will challenge you and help you improve those equity curves ....ive been lucky with 6-7 great mentors in last 20 years .....

none of them traded exactly like me (mainly because of my Strength Meter bias !) ......but boyoboy did i learn some great trigger techniques ......

N

following on from earlier .....i didnt chase cable north ......again discipline ...i felt it would come back .....

N

hey all

heres where i am this morning .....chasing cable .....im on EJ as well and uchf interesting ...but lets focus on Cable as i know its a big hit with fellow traders

this is a simple representation of what i am doing and certainly not my trigger charts and main trigger indicators .......

Cahes cable down ....then stepped away ...now chasing her up .......another switch is rare for london sessoin so should get some kickers now ........few pips in the bag but i want more from this session....maybe extras from EJ and UCHF will suffice

N

3060/61 the high so far ..........ZZZZZZZZZZZzz

update ........ive taken 3 scalps on cable since last action ....2 small winners and a small loss

impossible to make progress in 10 pip range so bailing till i get some price confirmation on either side of range

been also trying to play NZDUSD/AUDUSD Bulls (both act the same)....UCHF flatlining ....

frustrating day as green usd index and yellow yen index on charts are solid bears ...cant work money out of them though ...grrrrr

N

1 more update

cable popped up out of range and i got 1 decent scalp in ....ZZZZZz

im not chasing ghosts as it falls back into range .....

hard day to make a buck on cable ......but after 20 years i'm used to this stuff

also ...
NU been a steady Bull from 6630s to 60s
UCHF got down from 9640s to 9613.....

took a little on both over the morning to supplement Cables unfriendly behaviour

N

heres the week so far ...

CHF Bull play of week ...although 100 pips is pretty lightweight for 4 days so far
Yen is Bull play of week ...although again 100 pips is pretty lightweight

thats because GBP generally has been less volatile so far ......although it has swung 100 pips Bear to Bull in week which i have chased at times.............

the Complexity / Simplicity paradigm in Trading is what makes it so enigmatic and attractive to us......sometimes the market is so transparent and simple a 4 year old can make money ..........other times (more prevalent ?) it is wickedly complex and obtuse.....weaving traps that us mere mortal traders fall for again and again .....only to see the obvious patterns and opportunities in hindsight ...always hindsight .....

if you want guarantees then go buy a Washing machine with 5 year warranty .......Trading is certainly not the place to be

so far i chased Cable up from 3080s to highs of 3115s ......then eventually started selling at 3070s back to 3040s .....

bear swing of some 70 pips on cable so far ...amazing action

slow morning so far .....

3 scalps to date on cable chasing it south ....

remember the 5min cable chart is an indication of where i traded ..its not my trigger chart being used

that 3rd scalp now nice at 2973......

cable really fooled around today .....i got 3 tight scalps in as a bear move from 6am then Boom !!!

Cable came came like a rocket north ......No complaints from me .... its all about GBP today ...nothing else close

N

cable chased up real nice ....no need to try to chase it south ...i was long gone and finished

morning all....

ZZZZZZZZZZZZZZ.............no scalps on cable so far .........and ive had to scalp .....(Gulp!)

The Swissie ...............USDCHF

trade what you see.....thats the secret to trading......and works for me ...even without cable !

N

thats the problem with not trading GBP pairs ....you fall asleep......

anyway the UCHF pulled back hard ....so i didnt scalp it ...working from new area....nothing else looking much of interest ....Brown Cad warming up as a bull

dont write off GBP yet ...........it will rage today at some point ....just a little later than normal

N

Update .....

well i scraped a scalp out of the usdCHF swissie and now we have GBP firing up .....perhaops i can make some real money now on rest of morning ......(NVP you are never happy!!!)

Should have traded GBPJPY very nice movement of 50+ pips. I am planning to test your trading strategy it seems very interesting to see the outcome.

just a post to wind up the days forex action ...I said that GBP rarely has a fully quiet session ...and boy it delivered from last post here !......I rode her up .....some 70 pips of scalp opportunities ....excellent trading !

trading lower Timeframes is a painfully hard process ...but the rewards are high for the winners