Looking at the chart and being serious with myself I have to say this: I got true buy signals at the close of the following candles, 8.25 8.50 9.10 9.30 . If I traded on all these signals I would have made a few pips on each trade if my goal was to make a quick few pips from scalping. I would never have known which of these candles would have been the trend reversal candle unless I took an extra risk by waiting and let the trade go to stop loss level. That would of course be foolish and I would have lost a lot of money. My question than is, would it be worth to take all the above trades for a quick few pips in scalping? If you add all the available pips for the 4 signals i got, I would have made more than 10 pips. I think that although the risk is high, if you exit on the next candle you have a good chance of making a profit but on the other hand as it happened today I would have missed much better trades on other pairs. What do you think about this?
- #4,582
- Jun 27, 2008 5:11am Jun 27, 2008 5:11am
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- #4,584
- Jun 27, 2008 6:27am Jun 27, 2008 6:27am
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Willem
Forex recipe for success = Patience, discipline & hard work.
- #4,592
- Edited 9:13am Jun 27, 2008 9:07am | Edited 9:13am
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Willem
Forex recipe for success = Patience, discipline & hard work.
- #4,593
- Jun 27, 2008 9:11am Jun 27, 2008 9:11am
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Willem
Forex recipe for success = Patience, discipline & hard work.
- #4,594
- Jun 27, 2008 9:42am Jun 27, 2008 9:42am
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Willem
Forex recipe for success = Patience, discipline & hard work.
- #4,595
- Jun 27, 2008 9:55am Jun 27, 2008 9:55am
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Willem
Forex recipe for success = Patience, discipline & hard work.
- #4,596
- Jun 27, 2008 10:03am Jun 27, 2008 10:03am
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Willem
Forex recipe for success = Patience, discipline & hard work.
- #4,597
- Jun 27, 2008 10:18am Jun 27, 2008 10:18am
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Willem
Forex recipe for success = Patience, discipline & hard work.
- #4,598
- Jun 27, 2008 11:21am Jun 27, 2008 11:21am
- | Joined Feb 2007 | Status: Trader | 2,749 Posts
Willem
Forex recipe for success = Patience, discipline & hard work.