Eur/Usd scalping inspired by Shakesfx

T/P hit on 1st lot, move S/L to B/E on 2nd lot at 1.2847 (buy price 1.2849)

Lets see if it breaks 1.2860, this was a resistance point at around 8.50am

can see price fluctuating for a bit now between 1.2840 and 1.2860, which will be broken first...
testing that 1.2860 again

so close, may be a false breakout, hold 2nd stop at B/E still

Move S/L to +5 i.e 1.2852 (buy price 1.2854)

2nd try at breaking through at 1.2860

Move S/L on 2nd lot back to +0 i.e 1.2947 (Buy price 1.2949), I think this wants to break through and dont want to miss it because of tight stops

Hi pete youre doing well somewhat envious! which platform are you using for charts as Im also with IG and using mt4 for charts but found when trying to trade similarly the discrepancy between chart price and buy price on IG was too great mainly in faster moves so it made it too much like guesswork as the price your chart was telling you was history so to speak, Francis

Hello Pete, I have seen that you've started a trading journal based on ShakeFX scalping method.
I have also started two days ago and tried this method on EURUSD. It works out quite good so far.

In the end, I do same as in higher timeframes - drawing lines and trading on dips or breakouts. Here's a post I made in ShakeFX thread: http://www.forexfactory.com/showthre...23#post2533723

Beside this scalping algorithm, I trade some majors pairs with point and figure charts on bigger timeframes. This scalping method is only to make some extra profits

Keep up you trading journal and I whish you good luck on your trades!

Hi Adam

Thanks, i saw your post on Shakes forum, you get up earlier and me and seem to benefit, nice profit of +58 on that 2nd lot! As you see the support/resistance that everyone talks about in Forex is evident in 1 minute charts, dont understand why people look for it in 4 hour charts etc with huge stop/losses, when you can have stop/losses of 15 or 10 on the 1 minute and profit from a high strike rate.

Keep going with your trades

Pete

Just about breaking through from the 1.2860 mark, you can see why I moved my stop/loss back to break/even earlier, I would have been stopped out and missed the breakout.

Move S/L on 2nd lot to +10 i.e 1.2857 (buy price 1.2859)

Right bored to be honest of this little price fluctuation! Going to catch up on some paperwork, will be back around midday. Leave S/L on 2nd lot at +10 i.e 1.2857

will attach a trailing stop of +10, with a step of 10

so if price reaches 1.2877, S/L will move to 1.2867; if price moves to 1.2887, S/L will move to 1.2877 etc

you can do that on ig index pete?

thanks

Todays results so far:

1st lot: +5, +10, +10, +10, +5, -7, 0, 0, +10, +10 = +53
2nd lot, +5, +10, +10, +15, +5, -7, 0, 0, +5, ??(min +10) = +53 min

S/L was hit on 2nd lot for +10,

buy 1.2821

left for 15 minutes, price starts moving again!

Remember my post at 9.26am, said price would fluctuate between 1.2840 and 1.2860 for a while! Did anyone buy 1.2840 at 10.02am and sell 1.2860 at 10.08am?

T/P on 1st lot, move S/L to B/E on 2nd

S/L hit on 2nd lot

think 1.2840 might be new resistance, will consider selling here