EUR/USD Scalp 1 min

Possible price action.
fontu

shorts underway from 1.4345 to see how much it goes , '33/28/25 or more .Not well , price showing strong bullish but excess of anything is bad it will fall hard next , taking next sr at 1.4355/59/68
fontu

WTF is going on it that chart, the jedi strikes back??

Thanks for comments about the fully loaded chart, may look like anything one can imagine. Hope jedi will back again , his last activity 23 january 09.
fontu

Price below trading zone MM & perhaps waiting for the break tl soon .
fontu
already happened & may undershoot down/ some bounce from 1.4346 area before so.

As I think price going rangebound today also & so no worry other accounts & trying to do test fast scalping in demo today if can done well today , started random timings , long in downtrend m1.not doing well as can't manage each manually & fast.
fontu

Hi everyone,

Been using this method for 73 trading days so far.
Winner trades on 66 days.
Only 7 losers.
Favorite pairs A/U, E/U, G/U, E/J.
An average 5/6 trades a day (I'm not a full time trader)
Lot size 50K, and up to 200K when averaging (very rarely needed)

Thank you Hoss, this method works.

Teb:
you just renewed my interest...if at first you don't succeed, try, try again.

Steve

I realize I'm betting on a dead horse with no interest in this thread........

11 winners today on Eu; all toward the red 200ema with either divergence or OB/OS rsi; most after 3 pushes down and then explodes outside the BB20. used 15 pip sl; impressive trading against a big downtrend today and against better money management with 5 pips to win verses 15 pips to lose on a trade....but no losses today.

Definitely fun.

1/2 closed at 5 pips; 1/2 continued with a 4 pip trailing stop with a 20 pip tp which was never hit but several 2nd lots were higher than 5 pips profit so it was worth it to try.

I still don't know what to do with this method that Hoss continues to successfully trade.

Spending alot of today entering against the trend which seems wrong. My broker makes alot of money on multiple enteries and exits also.

But the bottom line is several days of this method is making consistent profits so this keeps my attention.

Note: I marked perfect entries with yellow vertical linel. I didn't take these trades right at the perfect spot so suffered more drawdown than shown. I am far from a perfect trader!

Thanks Hoss!

Steve

Good job stevewide. Thanks for posting those charts.

Steve and all, Not a Dead Horse. I have been studying all posts here for at least 3 weeks, and am about to start trading this way. Will post results, etc.

Signing up.

Lenoxer

I have been trading on demo for 3 weeks. Tons of winners. No losers, but many "compensations". I just started live.

Any body else compensating successfully? Please describe in detail how do you compensate.

If you compensate make sure you have a good MM or else....

This is my preferred method of trading. I scalp the EU, EJ and GU. Trading for about 3 months on a live micro account. I'm up 45 % to over $5000 now.

I use the 5 min and 15 min charts for trend direction ,am careful around fundamental news, and then scalp the hell out of the 1min charts. Sometimes up to 40 winning trades per day. 1 or 2 losses inbetween. A return of between 100 and 150 $ per day.

Indicators used is 100 and 200 EMA, Stochastic on 21, 3, 3 setup and RLW indicator with entrys around 7 and 93. Of course the trend is the deciding factor in whether I buy or sell, but in most cases I trade in both directions. Only when the Stochastic cross, RLW and the ema's agree, do I enter a trade

Good luck with scalping. Just made 5 pips off the EJ, Up 53 today

Forgive my ignorance RLW? seems to work well for you good

RLW = %R Larry Williams - Uses stochastics to determine oversold and overbought conditions

what effect would an RSI of 8 have in comparison to an RSI of 14? just mroe sensitive to the recent price movements?

and do you guys get your SR lines from fxstreet.com and similar? updating them every 15 seconds... i dont have MT4 so cant get them to do it automatically

pivot indicators are available on FF just type into search, support and resistance you draw yourself from high/lows if you like from 5 min to 4 hour time frame to suit, alter the rsi yourself and see what altering the parameters does that is the easiest way to find out

Hi FirozFX,

40 trades a day is impressive. I do about 20 only!

Do you "compensate" when trades go against you? Please describe in detail how you do it.

Thanks!