Disclaimer: This was my second FAILED attempt to show that scalping on very short time frames can be profitable for the retail trader.
Posts #1 though #49 track my progress in taking a $400 account up 104% within 3 months and then giving back almost all the profits in the first few days of December 2010. I discuss the methods I used, which consisted of discretionary stop-losses and counter-trend trading.
Subsequently… having changed to MB Trading from Oanda, scalping actively to take advantage of their ‘Pay for Limits’ program,
I am experiencing renewed success.
I think there is opportunity at MB Trading.
They have been ’pioneers’ and I don’t feel that much competition on their ECN (yet).
As always, I continue to aim for +20% per month.
My risk per trade is about 3% currently.
I am not net profitable (yet), but for the two and a half years that I have traded forex… my losing months on average are less than what I’ve paid for my cellular phone bill.
I’ve kept it small.
You can read about my adventures in this thread.
Take whatever from here that may be useful to you.
Trade the ideas better than I have.
Posts #1 though #49 track my progress in taking a $400 account up 104% within 3 months and then giving back almost all the profits in the first few days of December 2010. I discuss the methods I used, which consisted of discretionary stop-losses and counter-trend trading.
Subsequently… having changed to MB Trading from Oanda, scalping actively to take advantage of their ‘Pay for Limits’ program,
I am experiencing renewed success.
I think there is opportunity at MB Trading.
They have been ’pioneers’ and I don’t feel that much competition on their ECN (yet).
As always, I continue to aim for +20% per month.
My risk per trade is about 3% currently.
I am not net profitable (yet), but for the two and a half years that I have traded forex… my losing months on average are less than what I’ve paid for my cellular phone bill.
I’ve kept it small.
You can read about my adventures in this thread.
Take whatever from here that may be useful to you.
Trade the ideas better than I have.