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Interactive Euro Scalping

  • #21
  • Mar 6, 2012 8:21am Mar 6, 2012 8:21am
Quoting clivepackham
Its through the 1.3125 level now so next surge is 1.3100 but suspect it will turn back up and retest the old support at 1.3130 if it breaks up through that I am out for sure. No honestly i will take profit then.

But hopefully i won't have to until 1.3100 gets tested.

By the way do you trade the 25 pip levels too?
I like how you see things. I agree a break back up through 3130 is when you should close. You're in a very nice trade now though and there's potential for even further drop.

I have lines marked on my charts to help me count pips really quickly. The thin grey lines are 5 pip intervals and the thicker ones are 25 pips. It's an indicator that automatically draws them on when you open a chart. It's very useful. I'd be lost without it!
  • #22
  • Mar 6, 2012 8:31am Mar 6, 2012 8:31am
Closed it out for a nice little 3:1 trade, which is 6% growth for me as risk 2% per trade.
I didn't want to hand all my profits back.

If it goes back up to 1.3125 or even better 1.3130 will seriously consider another scalp back down. How about you?
Feel the Fear and do it anyway!!!
  • #23
  • Mar 6, 2012 8:49am Mar 6, 2012 8:49am
Hmmmm Price looking strong here, don't feel like shorting it yet but now approaching my 200ema which quite often turns it over.

Whats your thoughts Roofx? You looking long or short?
Feel the Fear and do it anyway!!!
  • #24
  • Mar 6, 2012 8:51am Mar 6, 2012 8:51am
That was a real nice trade my friend! Real nice!

Yes I'm shorting it now from 3130
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  • #25
  • Mar 6, 2012 8:53am Mar 6, 2012 8:53am
+7 so Stop moved to BE and hope for 10 pips
  • #26
  • Mar 6, 2012 8:56am Mar 6, 2012 8:56am
Sorry couldn't resist it had a quick punt but not confident as price is moving up quite strongly this could be the sellers last attempt to take control.

Oh well at BE so whatever happens, happens
Feel the Fear and do it anyway!!!
  • #27
  • Mar 6, 2012 9:01am Mar 6, 2012 9:01am
I'm out with +10. What will price do next? What will we look for? For me I'm not going to take any more shorts just yet. This could be a higher low forming and maybe price will get back above 3130. I can't trade where it is at the moment.

What are your thoughts?
  • #28
  • Mar 6, 2012 9:02am Mar 6, 2012 9:02am
out for BE sometimes moving to BE at 3 pips keeps me out of good trades, but it keeps me out of a lotta bad ones too.

You must of got your 10 didn't you?

I see you use 7 pips to move to BE, maybe I should widen mine a little?

Will play around with that a bit but for time being 3 is ok with me.
Feel the Fear and do it anyway!!!
  • #29
  • Mar 6, 2012 9:06am Mar 6, 2012 9:06am
Quoting Roofx
I'm out with +10. What will price do next? What will we look for? For me I'm not going to take any more shorts just yet. This could be a higher low forming and maybe price will get back above 3130. I can't trade where it is at the moment.

What are your thoughts?

Right now I'm with you sitting back and taking a good look, yep that was a higher low posted so could be the turning piont. I tend to sit on the fence here and let price show me which way it wants to go then trade the first pullback.

As I type this its moving down again so just not sure.

My advice wait for next move then jump on first pullback

But Heh, what do I know? Only price knows the answer.
Feel the Fear and do it anyway!!!
  • #30
  • Mar 6, 2012 9:10am Mar 6, 2012 9:10am
I've done 6 trades today with no losers but only one winner however that was a 6% so pleased so far, but only traded since mid day today.

Hows your scores today?
Feel the Fear and do it anyway!!!
  • #31
  • Mar 6, 2012 9:14am Mar 6, 2012 9:14am
Yea let's sit and wait like a venus fly trap waiting for its lunch to come along.

What did your big short net you? 25-30 pips? I think you will win trade of the day for this thread! Not that there's many people contributing so far haha.

How long have you been trading and have you always been scalping?
  • #32
  • Mar 6, 2012 9:18am Mar 6, 2012 9:18am
This is going sideways so I'm going to stay clear until I see some clear price action one way or the other then like I said earlier jump on the first pullback.

However this is starting to form a 15 pip consolidation area, if it establishes itself properly I might try to enter a sell at the top of it and hope for it to drop through the bottom. See diag below.

Or maybe a straight forward breakout of the bottom???

But I prefer to enter at top and ride across the box so i can get to BE before the bottom in case I'm wrong.
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Feel the Fear and do it anyway!!!
  • #33
  • Mar 6, 2012 9:20am Mar 6, 2012 9:20am
Quoting clivepackham
I've done 6 trades today with no losers but only one winner however that was a 6% so pleased so far, but only traded since mid day today.

Hows your scores today?
5 trades so far, 1 loss, 4 wins for a total of 23 pips.

I start at 6.30EST. You must be based in UK/Eurpoe are you? I recently moved to North America so I no longer have access to the London open sadly.
  • #34
  • Mar 6, 2012 9:27am Mar 6, 2012 9:27am
Quoting clivepackham
This is going sideways so I'm going to stay clear until I see some clear price action one way or the other then like I said earlier jump on the first pullback.

However this is starting to form a 15 pip consolidation area, if it establishes itself properly I might try to enter a sell at the top of it and hope for it to drop through the bottom. See diag below.

Or maybe a straight forward breakout of the bottom???

But I prefer to enter at top and ride across the box so i can get to BE before the bottom in case I'm wrong.
Yes I see what you are thinking there. I don't think I will buy if it bounces at 3111. I'm not sure what do do yet so I will wait some more. I'd like a smooth move up to 3132 and a bounce back down.
  • #35
  • Mar 6, 2012 9:28am Mar 6, 2012 9:28am
Quoting Roofx
Yea let's sit and wait like a venus fly trap waiting for its lunch to come along.

What did your big short net you? 25-30 pips? I think you will win trade of the day for this thread! Not that there's many people contributing so far haha.

How long have you been trading and have you always been scalping?
It netted me 21 pips as I use 7 as my stop so wanted to have a 3:1 winner so closed it as it came back to 21 pips but was up over 30 pips at one time, did think about closing it at 4:1 28pips but didn't.

I tend to think more in account % more than anything else and always use the same % for every trade and thats 2% but once I have my system buttoned up will increase that to 5% then watch me go!!!!

Wow trade of the day!!!! Thats an awesome award, heh lets make that part of the thread that you will award a trade of the day award to the best trade posted? Maybe that will get some shy guys to post????

Really enjoying posting our trades, its fun. Well it is when you win. Not so cool when I lose.

Anyway this price is holding the bottom of the box or is it pressurising the bottom of the box? Depends if you are a buyer or a seller I suppose.
Feel the Fear and do it anyway!!!
  • #36
  • Mar 6, 2012 9:29am Mar 6, 2012 9:29am
double post
  • #37
  • Mar 6, 2012 9:31am Mar 6, 2012 9:31am
make sure to give the award to live trades... I do not post often, but will try.
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #38
  • Edited 10:00am Mar 6, 2012 9:33am | Edited 10:00am
aggressive entry. we will see. Entry at 1.31262.

Update: loss
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Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #39
  • Mar 6, 2012 9:35am Mar 6, 2012 9:35am
Quoting clivepackham
It netted me 21 pips as I use 7 as my stop so wanted to have a 3:1 winner so closed it as it came back to 21 pips but was up over 30 pips at one time, did think about closing it at 4:1 28pips but didn't.

I tend to think more in account % more than anything else and always use the same % for every trade and thats 2% but once I have my system buttoned up will increase that to 5% then watch me go!!!!

Wow trade of the day!!!! Thats an awesome award, heh lets make that part of the thread that you will award a trade of the day award to the...
Yea it is great with the live commentary on our trades. I have always struggled to find people on FF who trade the same way as I do so I never get to participate in threads like this very often. Let's keep this thread going and meet each day to recor our progress and ideas. Others can join in and we'll all learn from each other.

Yes it's fun when we are winning haha! But when we lose we can come here and complain about our mistakes.

Yea it's all about percentage growth. I am very strict with my trades always being no more than 1% risk. Sometimes I lower it to 0.5% or lower when I think the chart is a difficult one to trade.

Looks like I should have bought that 3112 bounce afterall and I missed the bus.
  • #40
  • Mar 6, 2012 9:37am Mar 6, 2012 9:37am
To answer your last question no I haven't always scalped tried for a long time to trade dailys and 4 hrls etc but man it drove me mad wiating all day for a signal that never came caused me to regularly enter too soon.

But just recently I realised I am a one minute chart man through and through just trading the price action as it happens. Basically watching out for HH/HL and LH/LL sequences then trade the pullbacks etc.

Recently really like trading the consolidation zones like the one now. Have you read Staircase Breakout Thread? Strongly recommend it but apply it to one minute chart , they concentrate on 15 mins.

The other thread I love is Divergences Flag Trading the Trend. Awesome!!!

Anyway price is approaching top of my box so might try a sell here still looking bearish to me.
Feel the Fear and do it anyway!!!
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