Following the big money

STE off 100 EMA as a scalping strategy. Today only London is working and I don't expect big price moves. Initial stop was 3.2p, the profit is 4.2p. A closed the position because the stock index turned lower.

STE off 20 EMA. 1st part closed at +6p, 2nd at +10.5p. Last part left with stop at -6p.

morning srmfx,yes your example in your reply explains well that type of set up,im not very good at explaining the reason.there are many other opportunities from watching the pairs i mentioned,im trying to make less trades ,and the trades i do make are very high probability trades with larger gains.between watching quote price on the pair of interest and 14 pairs for change.there are many situations arising from this type of observation.

regards
william

STE off 20 EMA. 1st part closed at +5p, Stop is at -4.4p

2nd part closed at +6p.

Hi srmfx,

Did you enter 1 pip below the low of that doji for the STE please?
From the chart it looks like your entry was a bit higher than that.

Thanks

Stop moved at -1p

My entry was at 20 EMA.

OK, thanks for confirming. I just associate the "trick entry" with a 1 pip above/below entry method.

Cheers

srmf

I could not agree more with your statement regarding scalping. I think where we differ is in our definition of a scalper.
I usually am trying to catch a bigger move. IE. entering around some type of S&R be it Fibs., pivots, or historical levels, or at a place where I believe there may be "stop hunting".
What I refer to as scalping is using very tight SL and getting to a break even point ASAP.
Perhaps I need to re-think my definition of scalping.
Thanks again for putting my mind in gear.

My entry is trickier than the usual trick entry . I watch the quotes when the price is around the support or resistance level.

LOL. Thanks

interesting on quote on cable skips prices to previous high

price cleared 76 level on cable before taking off,not in trade but good to watch,16299 i also expect to be retested now

closing my cable trade at 16321,my entry was 16299,my entry came from the price jump at that level,on quote.

the interesting thing is ,i was waiting for that price,which was an hour or so in coming,another trader may well have entered of the 100 ema, and they dont all play out like this,and my error was not to take the 76 price which was identical in its pattern.somtimes it gives us a peek into the fut er .

Sell below level with offers. Early sell warning from the stocks. 1st part closed at +5p, 2nd part at +10p. Stop left at -5p.

Position updated. If the price breaks decisively below the 50 EMA I'll move the stop to BE.

Stop moved to BE. Stocks are heading south supporting my short position.

Hi Srmfx,

when you trading GBP/USD, do you watch quotes the same way you do it for EUR/USD, or every pair has its own patterns in the quotes?