1 pip per day (at least)

Closed at 1.49569.

Statistics:
Spread: 0.9 pips
Max minus: -10.0 pips
Result: +5.5 pips

Great Going Xaron

I frequently check your FX book and i must say you are an amazing trader..amazing growth you have shown in your forex account.

I hope scalping 1 pip a day does not make you tired and does not affect your main account trades.

I have done scalping in past and i used to be totally stressed out after few minutes as volatility is huge in e/u.

Long EU @1.49952

Closed at 1.49963.

Statistics:
Spread: 0.9 pips
Max minus: -1.0 pips
Result: +1.1 pips

Done for the day.

Short EU @1.50777

Closed at 1.50766.

Statistics:
Spread: 0.9 pips
Max minus: -1.0 pips
Result: +1.1 pips

Again done for the day.

Long EU @1.48627

Closed at 1.48648

Statistics:
Spread: 1.2 pips
Max minus: -4.4 pips
Result: +2.1 pips

Have a nice weekend!

First week is over and I made an incredible gain of 1.2%.

http://www.xaron.net/dl/fx/2009/scal...ons_271109.png

Short EU @1.50405

Closed at 1.50392

Statistics:
Spread: 0.9 pips
Max minus: -1.0 pips
Result: +1.3 pips

What is "max minus"? Drawdown?

So maybe a few words about my setup:

I use a 5m chart for this kind of trading and use Phil's 5m system as a base.

Look at this chart:

http://www.xaron.net/dl/fx/2009/scalp/eurusd_301109.png

So I just use stop orders (a stop sell in that case) to get in and just close the trade as soon as I got my 1 pip (or more). For that I wait for a pull back into the 2 MA's (10 and 21 EMA) and start to set stop orders below the low of the last candle. Nothing magic here.

Yes. That tells you how much the trade went into the negative till it reached my target.

Just prepare for an entry... Stop buy currently at 1.50674. I'll lower this stop buy with the highs of the next 5m candles till it's filled.

Long EU @1.50623

Closed at 1.50640

Statistics:
Spread: 0.9 pips
Max DD: -1.1 pips
Result: +1.7 pips

Interesting. I might have to go back to watching the charts myself as I was having a lot of luck sticking a buy/sell stop three pips above the high and low of the daily candle for two pips but oandas variable spread was going to be trouble and it was tonight, oh well i was still in testing mode anyway, although 14 wins and one loss was just on par but I don't see it being reliable long term.

I will check out your method.

Short EU @1.51015

Closed at 1.50990

Statistics:
Spread: 0.9 pips
Max DD: -5.2 pips
Result: +2.5 pips