Scalpers Go Here

Also without a trend...we can pick-up good moves on 1 sec TF...

Another week of business. Some feedback on queries.

Fireblades: Posting the screens in realtime is almost impossible. I actually add the text once i'm out of a position but I try. For example post 274 was done no greater than 10min after the close of trade. Remember we work with 1m. Much less than the time it would take to send a post.

Jurrasic: 10pips. The 1st being a break even then when the micro trend develops I keep the 10pip window trail. The objective is to lock in some pips.

TwOeleven: Which of the posts were you looking at when you sent your comments? The MACD lines are automatically generated by the platform. Check out OANDA if yours doesn't.

Ash: I agree, the trend is your friend. Take Friday for example, we all expected EUR/USD to hit 1.6000 and we agree its on its way there. But in the process someone collected 200pips on a minor correction trading the 1min charts. Who do you think will make more pips eventually? Its even better to seek small trades in the direction of the trend. I think we all have our ways of killing the RAT.

I dont know if im allowed to do this maybe the moderator can guide. Will tell you guys when i make a strike since im here anyway. Demo trade if you want. Thats as realtime as I can get Fireblade. FYI and a word of CAUTION am not in this to make money or lead you on to a subscription service for the doubting guys. Lets simply share and make some killer trades.

1.5840 seems support/resistance point was broken in the last hour and now some consolidation is in progress. Watch the position closely. We may make an entry soon with a bullish bias.

Limit buy 1.5865 SL 1.5850

Our target is 1.5880

Sl Has Just Been Hit

Still waiting for the next trade. EURUSD is yet to make up its mind. Missed the GBPUSD short today. Hmmmm. I wish I had compound eyes. Be on the lookout guys. I still maintain my limit entry

BINGO!!!! the long entry worked although I'm having problems sharing and trading simultaneously. Current consolidation at 1.5920. Want to work it? Your choice. Continue to look for longs on eurjpy and chfjpy as well. Still trying to figure out how to make this as realtime as possible. Chat sessions maybe?

Is anyone using Price Action (Pin Bars, Double Bar Lows with Higher Closes, and Double Bar Highs with Lower Closes, Inside Bars, Bearish and Bullish Outside Bars). I have been using these to scalp on the 5M charts and am averaging about 7 trades per day and a net of over 17 pips per day. I enter a trade based on what the bars are telling me and go for small profits of 4 to 6 pips with each trade. Winning percentage is over 70%. Most in a loss is 4 to 5 pips.

I have read through this site and think the rainbow EMAs could be very helpful. One thing that many have asked is about entry. If you watch for a PA bar or set of bars you will know when to enter. Normally the opening of the next bar retraces 1-4 pips. It is at this point you want to enter. I see the rainbow as a help to confirm that this is a good point of entry. Especially when the rainbow is twisting.

No matter what you do, unless you are using something other than an indicator you have to enter the market late. If you know PA (Price Action) you know with high predictability what the next bar will be.

I use 1 and 15 minutes, stop 8, first take profit and raise stop to breakeven at 6 pips, then second take profit 12.

does this indicator put the dot on the candle after it closes or after the close of the following candle?

Hi pdean

Could you ellaborate a bit on the bars' thing, please ? Are you trading opposite the first bar on the second bar that retraced or the next bar after or in the same direction - as in a dip on a trend.

Thanks

The Rainbow Effect can only trail and tell what the price has done. Therefore there will be many false starts because price continuously moves up and down. Therefore you need a way to predict what is going to happen in the next bar rather than try to react to what you think might be happening. To do that you need to know what the bars on the chart are telling you. If you know this than you can make money scalping if you use a trading platform that allows you to enter a trade at 1 pip or less. An example of a Price Action bar is a PB(Pin Bar) which typically forms at a high or low telling the trader that a reversal is about to come in the next bar. A PB is just one such bar. Others are Bearish and Bullish bars, Bullish and Bearish Outside Bars, Double Bar High with Lower Close, Double Bar Low with Higher Close. These formations will allow you to trade into the next bar with a short stop loss and a nice profit. If you knew you could average 15 pips everyday how much money could you make. This is how I scalp the market.

Hulla scalpers...

Hello Hanz,

I scalp, I personally use 5 min time frame,

I also have a thread for scalpers, you are welcome to check it out man: http://www.forexfactory.com/showthread.php?p=8888969

good luck!

Scalping? Best to use two large charts. One of One minute and the other 2 hr Chart. Add a small chart at the corner of the screen for 4hr Chart. After losing thousand made on every deposit over the last six years and wiped out within two weeks or less on currency trading, I now trade Indices. Never have used S and L.

Now with Indices and spending only less than two hours a day and many days trading less than 80 minutes, I profit daily. In the past, greed, emotions and chasing lost trades were my downfall. I am sorry I am not able to explain movements to Open and Closing trades. I trained myself to be culpable and capable trading DAX. It is not possible to teach anyone with written words or illustration.

My apologies.

Happy trading for profit to everyone here.

If anyone wants to get maximal result by scalping
first of all he or/she has to make sure lowest trading spreads
which is very supportive to make profit with certainly by scalping that brings profit in a short time.

It is interesting to meet a trader who makes a lot of money using scalping.