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DislikedYeah, Im using an ECN but my spreads are 1-2 on EUR/USD and 2-3 on EUR/JPY plus commision ($20 per million)
Last night, for example, I shorted EUR/USD based on a break of minor support and rainbow on the 5sec chart....it went back up...I closed -8
Then it came back, and broke the last low so I shorted again... -6
I really cant figure out what I did wrong....it eventually went down 20 pips but I stopped trading after those 2 losses.
I can see how eventually you would catch a move, but after all the losses trying to catch the move, you would be breaking even constantly.Ignored
DislikedI'm posting these 5 sec chart because as we know we cannot go back in past with Oanda chart, but if we post them here we can study them all the time. This is an exercise I do everyday to train my eyes and brain to recognize possible entry point.
These are just my possible entry, try to find your own way to enter and exit.
hope this help!Ignored
DislikedLinuxtroll some observation for you. Thanks for your patience!
I got discouraged from EUR-USD 5 sec chart, but now with EUR-JPY it's different, the EJ moves much more so the 5 sec waves are bigger.Ignored
DislikedAlessandro very nice trades on EUR/JPY. Just for demonstration how EUR/USD killed me today in very choppy market. I made so many mistakes...still undisciplined student. But how many times I had the experience finish the day positive? Trying to do my best.
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DislikedHi all. New to this threat. Love what Linuxtroll has started here. just thought I would show you how I have been trading the rainbow. See pic attached. Target 10 pips. Stop loss height of patten. 1min chart eur/usdIgnored
DislikedHi Linuxtroll,
What ECN brokers have you found to be best. I've used MB Trading but don't think they have spreads < 0.Ignored
DislikedLinuxtroll,
A question I have is on the 5 sec. scalp.
How many pips do you seem to get on that TF?
I am aware you take what the market gives, or depends on your mood or personal risk factor, but it seems that an average number of pips is what you have come to hope for.
Once again, I am aware there is no one simple answer due to the many variables and that every trade is it's own individual stand alone trade, and I am sure the more experienced can extract more.
Would you say an average of...
1.) 1-2 Pips
2.) 1-3 Pips
3.) 1-4 Pips
4.) 1-5 Pips
5.) Other. If other please explain.
6.) None of my buisness.
I know one PIP can make one rich, but so can 2 or more.
Thank you.Ignored