Dislikedwell done broo ..in M1 how do you trade and whats your Tp of trades??
UbIgnored
DislikedNice trading day WB, sometimes i scalp, not full lot and not on M1, but what kind of pair do you scalping (scalping only on asian and London session ?), also do you use trendline on M1 ?
Thanks for your answer.Ignored
Normally I scalp the eu & gu. I don't normally scalp the gbpjpy due to the wide spread & extreme volatility.
I scalp the m1 the same way I trade the htf. trendlines, s/r & pvp levels. No difference really. Only difference is in position sizing.
I don't recommend scalping if one is new to trading (less than 2 years in trading). A few reasons to that, one being new, naturally you'll be dependent on lagging indicators, ie the moving averages. They simply don't work when trying to scalp the ltf. You'll be losing precious pips while waiting for the crossovers.
Pin point accuracy in entries & exits when scalping is only achievable with understanding of price. There's a difference between scalping & placing trades based on the ltf entries. There are traders who use the ltf to enter a trade & work the higher tf trend/range from it. The crossovers work for this purpose tho.
I don't use the ltf for that purpose.
Attached chart below is a blown up chart showing the levels I used earlier when scalping the m1. I have used the m5 here to make it easier for you to see where I entered & exit. The live entries & exits earlier are available here :
1. http://www.forexfactory.com/attachme...6&d=1274259269
Hope it helps.
Thank You