Scalp, scalp, scalp

Thanks diceman555

I have already blown 1 account by trying to trade without S/L. So until I find a strategy which works for me, I am on demo account. The previous sell zone lines, are they previous support/ resistance levels?
Yonas

hi jonas,sorry late reply,ive been busey as im travelling overseas today,will send you a msg when im settled

hi jonas,
im now here in accra and pleased to feel the warm sun .

ok first things first,my ftse trade stopped out,thats two concecutive losses .does happen,nature of the beast,to answer your question .yes sell zones and buy zones become support and resistence,if broken then initially we can look at support becomming resistence,

i think you are at the stage were you are looking to find a style or method of trading which suits your personality,my journal here may well confuse you because im logging some of my trades from a no of methods that i use and of which im working on.you are welcome here but as i have said i may confuse you as to finding or learning a method that works for you,
Support & Resistance Scalping
this thread just opened which looks very good and concentrates on 1 style of trading which has similarities to my scalping method,
hope this helps

im presently short on cable from 15753 level,currently around 40 level,s last wks open being 35,below that level we have a run down to 15706,last weeks low,will close if it bounces much past my entry,entered on this uncomfortable level as priced was stalled and didnt get any real push up,also all its related pairs were still dropping.steadily.

took 2 pip loss on this cable short, the signs to exit at the bottom of the range were quite clear,price level 15731.which would have produced a 20 pip gain,e/u and aus ect,werent making the lows within there range,seen clearly on there value change whilst cable tested that lower lever the rest were breaking up.will study this more to see if these changes can be used on a micro scalping level

Hi diceman555,

I'm planning to start trading in a few months using IG index SB using a similar strategy to yours.

I'm just wondering what your computer set up is like, multi monitor, separate charting software from IG?

Thanks,

rs1

HI RS1,

im using 2 monitors,this one which is ig index ,its there standard charts as i find that serves my purpose,my regular account is with alpari uk,which i use for my basket trades and longer term fts100 longer based trades,i have alpari charts on my second screen alongside excell for that method.ive just started trading this ig account again for my scalping and trades initiated from ig charts,

yu can purchase a chart package from ig index with more features,but as i dont use indies on these trades the free standard charts serve me fine

good luck with your new account and trading

regards
william

taken a short 15823 on cable,

this is the chart for my short cable from 23 level,taken from the lower diaginal ,held the trade with the upper being my ideal entry point,either way back at my open price,was looking for that 20 pips from first diaganal,will hold for moment

looking for some direction on cable,would like to see it break up above the 30 level and hold before looking for a long,

my short yesterday had profit at 15802 for 20 pips

were stuck in this range,for days,the range within the range,15800---15830,which can be seen on these daily candles,

15760----15830 larger range,so below mini shorts above mini buys,

the value changes showing the indecision across the market

look at the key line here when tight ranged,15812--14,the last 4 days open and close price,runs away from that line ,incidently its a diaganal s/r on my 2 min chart,to the top end of range or bottom end,ideal scalping terrain,until it breaks,from those daily open,closes

long on cable at 98 level,stop at b/e

taken half profit at 18 level,20 pips,stop on second half + 5 pips,my entry was based on the change values for related pairs all upwards with momentum,cable slightly behind in its correlated move

2nd part of my cable trade closed at 15886 level,90 pips,marked from the wkly and monthly highs,the indication for this trade was the range trading ,ny open and cables reaction ,all in the values change were gaining with momentum,you can trade these oddities without looking at the charts,albe it if only to top of range

sorry entry chart heres exit chart

short on cable at 15920 level for a longer term short,some resistence on daily and a possible turn point on zoomed out hourly from a longterm diaganal,which is the last on the previous longerterm downtrend,the last junction from the longer term downtrend

entry 15920,stop 16026,half my normal position on this short,will add if everthing else falls into place,if price breaks up will need to concider damage limitation

ive got my stop at 15920,b/e,the drop down has allowed me into a risk free trade,still no real downside with related pairs so early times in this trade,

added to my short at 15901,