Scalping the pip out of it

This one on the other hand was a great setup and I took it for 35 pips.

To be honest I stayed in my last trade and doubled down against it several times and came out almost 60 pips ahead. It was a horrible decision and I feel a little less of a man for it, but it is hard to be that upset with a 95 pip day. LOL!!!

So this trade is a good one to think about. Price has put in a huge run. This means that price has to retrace. There is pos div on the 15 minute chart!!

Plus we have stochs bottoming out while price is hitting a support multiple times.


I took profit at the 50 moving average where price did bounce off of.


Put it in the bank!

Here it is. Pretty self explanatory.

I tried this....

Default bollinger bands
default RSI on
15m chart
Tick chart
Highly leveraged around 10 usd a pip.

Wait for spot to move to center bband opposite trend direction on m15
open tick chart and wait for sharp reversal with quick momentum and click appropriate buy or sell (with trend). Open trade. Usually works best in a down trend. Maybe just me but downspikes drive price much faster than upspikes.

Open tick and trade window back up

If price continues counter trend close position 100% with five to ten pip loss.

If price reverses to trend I close 50% as soon as I am in profit.(5 to ten pips)
Open tick window again and close remainning 50% when price stutters.

Do your worst!...

I am actually just comparing trend on 1tick chart with 15m. the bollingers and the RSI help me decide to enter.

Once I am in profit I use the TP line on the tick chart as a trailing stop usually there is not enough time to manually set up trailing stop so all trades are manually opened and close. Most trades are less than one minute

Hello again. I have not posted in some time. I am going to start giving setups again so if you are watching you can get some insight into how I trade.

First off, My name is Jonathan and I am a professional trader. I have been trading for about 8 years. It has been a very frustrating journey. I seriously had given up on a couple of occasions, but Forex is a very powerful market and I kept coming back to it. When I was new I thought I would make a lot of money. I lost a lot. I thought it would be easy. It was not. But what I gained from trading is a better understanding of myself and that is what I would like to share.

IF YOU ARE NOT MAKING MONEY AT THIS YOU NEED TO REEVALUATE YOURSELF!

This means either the systems you are using or the self discipline you have about it.

There are proven systems and techniques that work. If you use correct risk you can become a full time professional trader if you choose to.

If anyone is interested in learning more about the forex markets and trading psychology please feel free to contact me on forexfactory.com or on my website phoenixforex.org


I will post more here about scalping but I also offer tutoring on longer term and position trading.

I wish everyone the happiness that they deserve in there life and let forex be a tool to create it!

Jonathan

This scalp I like because it is a confluence of indicators. Price action is hitting a previous resistance and it is also running into a couple of moving averages. Stochs have topped out on 5 and 15 and need some room to breath.

We will see if it pans out...

And again please feel free to contact me about specifics that I am refering to in my trade setups. My website is www.phoenixforex.org and I offer forex training in both scalping and longer term( 4hr chart ) trading systems.

BTW the previous setup the I showed is now selling off. I wish everyone the best trading and lots of pips.

Here it is. I have a pretty good run here. I would either be putting a better that break even stop or a trailing stop or just plain getting out with pips here!

Have fun!

This is another one that I just found happening right now. We have price retracing up to a fib level and a previous suport. Stochs are topped out on 5 and 15. Risk is only about 15 pips.

It is important to watch the news to make sure that moves late in the day are not fundamentally driven because then technical levels dont matter

I am shorting the market at 1.0216

http://www.phoenixforex.org

Hi guys.... So the trade did not go my way. I am still not taken out at my stop, but I want to Illustrate something important. Watch how even though price did not necessarily jump my way, it was very hard to break through the level. That in itself is very important to understand. Why these supports and resistances have strength in the market. You could have jumped out with 7-10 pips on this one but that is not the point. The point is to enter at the correct levels to minimize risk

PhoenixForex

So I wanted to follow up on my last trade.... I made a decent sized scalp on it.
I had a small risk in the trade so I let it run even though it did not go my way to start. Made about 30 pips on it

It is important to see how stochastic needed to unwind from the top. With little risk in the trade you have to wait for the move to happen sometimes

PhoenixForex

Price action is still selling off... making new lows.

Love, peace, honor and integrity. These are the traits of Great men. If you were to be given the secrets to make millions, would you be great?

PhoenixForex

Hi there... Just wondering if anyone is seeing any scalping opportunities this morning?

PhoenixForex

Would anyone like to have a FREE SCALPING WEBINAR with me?

I would like to share the knowledge that I have. If you are currently trading and would like to learn more about scalpint effectively let me know. I will be offering a short gotomeeting webinar for a limited time.


This is very effective trading! I want to help people who are struggling. If you are trading well, this probably isnt for you. If you are frustrated let me shed some light on this market for you.

Light and blessings

PhoenixForex

Hi guys.... Just had my thread moved to trading systems. I have a scalping strategy that I have been using for a while. If you are familliar with my indicators it is pretty simple. Let me know what you think and if you have any questions contact me

Cheers and Good Trading
Jonathan

PhoenixForex

This is a simple trade that I took for 26 pips this morning. It is not the most perfect trade but I have a couple of good things in my favor.

1. Market Flow changed on the 1hr chart.
2. Price action came back down to a fib level after the change in market flow
3. Positive divergence on higher timeframes
4. Fitz scalping setup with stochs bottomed on 5 & 15.

Even though price went through my entry at 62% fib, I wasnt taken out at my stop so I was able to comfortable make a good scalp.
I was in long at about 1.2300

PhoenixForex

Would anyone like to have a FREE SCALPING WEBINAR with me?

I would like to share the knowledge that I have. If you are currently trading and would like to learn more about scalping effectively let me know. I will be offering a short gotomeeting webinar for a limited time.


This is very effective trading! I want to help people who are struggling. If you are trading well, this probably isnt for you. If you are frustrated let me shed some light on this market for you.

Light and blessings

PhoenixForex

So I jumped into this one just for a small gain...

Market flow is up on the higher timeframes and price came down to touch a previous high on the hourly chart. You have to be able to get in the opposite direction of a bold faced candle. That is the way to protect yourself by minimizing risk....

I am in long at 1.0434 stop below the recent bottom profit at 20+ pips depending on if I want to trail the stop loss to break even

PhoenixForex

These are the types of levels that I am looking for to get in at good support resistance levels... previous low, fib levels, and 5-15 stochs topping out simultaneously.... Hasnt hit yet at 112.20 but I would def take the
trade! Short that is!

PhoenixForex

If anyone has any question or needs any clarification as to what my psychology for my trades are, please dont hesitate to ask.

PhoenixForex