Eur/Usd scalping inspired by Shakesfx

move S/L on 2nd lot to +10 i.e sell price 1.2800

move S/L to +15 i.e 1.2805

move S/L to +20 i.e. 1.2810

S/L hit on second lot for +20

Todays results so far:

1st lot: 10, -6, +4, +10, +4, -7, +10, +10 = +35
2nd Lot: 0, -6, -5, 0, +4, -7, +8, +20 = +14

+49, on a slow day ,, though has taken 2 and a half hours

Sell 1.2811 (buy price 1.2813), something will give soon...

TP hit on 1st lot, move 2nd lot S/L to B/E i.e. 1.2809 (buy back price 1.2811)

move 2nd lot S/L to +10 i.e 1.2799 (buy back 1.2801)

Nice to meet you Mr. Bear.

Right around the same time, I went long at 1.2817. I thought that it would continue up after breaking above that small consolidation between 1.2808 and 1.2816.

You were right and I was wrong. I handed you my pips. hehe

Yours Truly,
Mr. Bull

Sorry mathematician! price had stalled too long in the 1.2820/1.2810 area and I could sense downward pressure.

S/L hit on the 2nd lot for +10

sit and wait now

Buy 1.2795.

Hoping for a quick +5 or +10 profit before selling again

I too have been following Shakes' thread. Of course I've also been following yours. I'm curious as to why you chose to change from EJ to EU. Was it because of the superior spread on EU?

I am practicing this strategy, and I have to choose a pair to trade. I know it's foolish to try and trade more than one at a time on such a short time frame. I think that EJ is probably more profitable if you're good at this strategy because it makes bigger moves. However, I think that EU is an easier pair to trade if you're just starting to learn this strategy because of the lower spread and because EU moves a bit slower than EJ.

It's very inspiring to see that you have been able to pick up on Shakes' fantastic strategy so quickly and with such great success. Do you think part of it has to do with the slight differences between what you're doing and what Shakes is doing, viz. using 1-min candles instead of the line chart? I agree that indicators, especially the formulaic type, can be a hindrance, but perhaps just having some candles as "training wheels" would lessen the learning curve.

I'm a big believer that a trader must go through a learning experience. (I've writen my thoughts about this on another forum: http://forums.babypips.com/forextown...html#post89921) A trader gradually jumps to higher and higher skill levels. One can't expect to be as good as a pro right away. So basically, I'm looking for a good "study plan."

What are your thoughts on all of this? Shakes, your input would also be greatly appreciated.

sorry internet frooze, my TP on 1st lot was hit 10minutes ago, move S/L to B/E on 2nd i.e sell price 1.2795

Reason I chose E/U was partly due to spread and also as only with GDP/USD it is one of the two pairs and I have been following since I have started trading in November.

My thoughts are don't risk trading more than 2 pairs maximum!

Take profit of +5 (i.e. sell at 1.2800) on 2nd lot, sit and watch for the minute, can see a coil building but not sure which way it will spring yet!

that will be south then! good job closed the second lot in proift. However will see if this goes past the 1.2785/90 to confirm a solid breakout

Buy 1.2794 (sell price 1.2796), but tighter stop/loss than usual at 1.2784 sell price (i.e. -10 each)

Sorry mathmatician, did not answer your thread fully. To help you get an idea of how I trade, I have a chart of 1 minute candles covering half the screen, over my broker platform. On my broker platform I have the price ticket open. That way I see the price movement in real-time seconds and in minutes on a chart.

Ok that flew south, wiping out S/L on each -20 total, bad call. Was expecting another little rise before that fall, but should have gone with my judgement at 3.56pm and sold after my gain.

nevermind!

buy at 1.2775, S/L -5 on each i.e. sell price 1.2770, not expecting much of recovery here only +10 to +15

close both lots at +9 i.e 1.2784, profit of +18