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Interactive Euro Scalping

  • #61
  • Mar 6, 2012 8:39am Mar 6, 2012 8:39am
Quoting Roofx
Who is up for buying off support at 3112 if it hits? 3 bounces already so I am sitting this one out I think.
I missed the bus again.
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  • #62
  • Mar 6, 2012 8:43am Mar 6, 2012 8:43am
Quoting clivepackham
Hmmmm getting a bit untidy here and looking a bit confusing for me

Whats for the best sell at the top or buy at the bottom of range??? Candles are starting to get bigger too which is an ominous sign we are about to breakout soon, but which way?

Its actually looking like a wedge now more than consolidation area so I will either catch the breakout or if I miss it wait for 1st pullback after break out.

What anyone else's thoughts????
I'm with you on the waiting. This support line has held up tremendously well but it can't last forever. Judging by the diagonal trendline (orange) making lower highs my feeling is to the downside with a break of that support line at some point being more likely than a break of the upper one. Who knows what will happen but that's my feeling. Also, coming up to London close soon so can be a bit more risky time to trade as people start closing out their positions.
  • #63
  • Mar 6, 2012 8:48am Mar 6, 2012 8:48am
Quoting Roofx
Phew! And your day remains loss free still! I have had one loss and one BE with 4 wins.

Can you post a chart of you last trade? I'm not sure which one it is.
Don't know how to post last trade as such now its gone but I shorted at top of consolidation area well actually about halfway up which is why I thought I was in trouble as it didn't go to BE but the other way but alls well that ends well as they say

At end of day lets chat through results as yes I have had no losers but only one winner so will be interesting to compare notes. Hoping to get one more 2:1 plus trade from the breakout of this range before the day is out but not going to rush in and spoil a good day.
Feel the Fear and do it anyway!!!
  • #64
  • Mar 6, 2012 8:50am Mar 6, 2012 8:50am
It finally pierced support!
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  • #65
  • Mar 6, 2012 8:55am Mar 6, 2012 8:55am
Quoting Roofx
I'm with you on the waiting. This support line has held up tremendously well but it can't last forever. Judging by the diagonal trendline (orange) making lower highs my feeling is to the downside with a break of that support line at some point being more likely than a break of the upper one. Who knows what will happen but that's my feeling. Also, coming up to London close soon so can be a bit more risky time to trade as people start closing out their positions.
Good point about the London boys going home for the day usually means there will be an opposite move to the day as they close out their positions so that would mean a move up here.

But best thing is to wait for the price to actually breakout of here and take the 1st pullback. I'm going to play it safe here as have a 6% profit day here so don't want to blow it at the end on a impulse trade.

But if I was a betting man I would say up from here.
Feel the Fear and do it anyway!!!
  • #66
  • Mar 6, 2012 8:56am Mar 6, 2012 8:56am
Quoting clivepackham
I have had no losers but only one winner
But it was huge and you won trade of the day!
  • #67
  • Mar 6, 2012 9:00am Mar 6, 2012 9:00am
I might be letting "Trade of the Day" going to my head but just bought this off of support and backing the London boys to take their profits.
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Feel the Fear and do it anyway!!!
  • #68
  • Mar 6, 2012 9:01am Mar 6, 2012 9:01am
At BE
Feel the Fear and do it anyway!!!
  • #69
  • Mar 6, 2012 9:02am Mar 6, 2012 9:02am
Quoting clivepackham

But if I was a betting man I would say up from here.
I'm staying out until the London Lads have packed up their things and headed for the elevator. I wish I could trade the black hole that occurs after London close but usually it almost flatlines these days.
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  • #70
  • Mar 6, 2012 9:03am Mar 6, 2012 9:03am
Needs to breakout the top or its another BE not taking profits here
Feel the Fear and do it anyway!!!
  • #71
  • Mar 6, 2012 9:05am Mar 6, 2012 9:05am
Quoting clivepackham
I might be letting "Trade of the Day" going to my head but just bought this off of support and backing the London boys to take their profits.
Nice! You jumped in for one more sneaky scalp! And at BE now you can't lose!

I wonder if moving to BE at +3 would work for me too or if I'd get stopped out of too many trades.
  • #72
  • Mar 6, 2012 9:06am Mar 6, 2012 9:06am
Quoting clivepackham
Needs to breakout the top or its another BE not taking profits here
If it gets to +10 would you not close out at this late stage in the day?
  • #73
  • Mar 6, 2012 9:08am Mar 6, 2012 9:08am
Out at BE again thats 9 trades 8 at BE and 1 winner for 6% an interesting day, what time do you stop trading Roofy???

Is it worth one more go off of this support????
Feel the Fear and do it anyway!!!
  • #74
  • Mar 6, 2012 9:08am Mar 6, 2012 9:08am
Your Signature says it all when it comes to scalping

__________________
"Feel the Fear and do it anyway!!! "

I'm going to die young because of scalping, I'm telling you.
  • #75
  • Mar 6, 2012 9:14am Mar 6, 2012 9:14am
Quoting Roofx
If it gets to +10 would you not close out at this late stage in the day?
I know where you are coming from and yes it makes perfect sense, but my trading plan is basically to move 3 pips my way before it goes 7 pips against me and then hold on for at least 2:1 trades or more if possible. That way I can have a 50% hit rate and still make money.

But as you've seen I have many BE's and to be honest normally the same amount of winners and losers so by holding for 2:1 plus I ensure I have winning days.

But as I said I have only just started trading this system and it is alaways under review for better ways etc.

Would love to have a skype call later to didcuss some ideas with you as I really like your discipline, you seem like a seasoned scalper.

Lets hook up later on Skype?
Feel the Fear and do it anyway!!!
  • #76
  • Mar 6, 2012 9:16am Mar 6, 2012 9:16am
Quoting clivepackham
Out at BE again thats 9 trades 8 at BE and 1 winner for 6% an interesting day, what time do you stop trading Roofy???

Is it worth one more go off of this support????
When my chart turns black it's my cut off point. BUT most days I still sit here in case another setup comes. Some days good trades still come along after London close but I would drop to a lower risk percentage for these hours.
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  • #77
  • Mar 6, 2012 9:17am Mar 6, 2012 9:17am
This is interesting a breakout downwards so much for the London boys closing out I do talk crap sometimes.

Well I am for watching this first and grabbing the retest if it happens.
Feel the Fear and do it anyway!!!
  • #78
  • Mar 6, 2012 9:26am Mar 6, 2012 9:26am
Quoting clivepackham
This is interesting a breakout downwards so much for the London boys closing out I do talk crap sometimes.

Well I am for watching this first and grabbing the retest if it happens.
It's not you, it's just trading is such an unpredictable piece of madness! Well....we say unpredictable but you and I both know that it is predictable most of the time . But not all the time. I was looking for a break to the downside becuase of that orange trendline and the lower highs and it did break but sometimes it does the EXACT opposite of what I think it should do! And thus a stress induced early death bed is on the horizon haha. I'll be dead by 25. And I'm already 30.

I can pop on skype messenger to type soon. Pm me your username when you are going on.
  • #79
  • Mar 6, 2012 9:26am Mar 6, 2012 9:26am
1.3200 is a big nos bit loathe to sell into it aren't you? I still feel this should go long here especially now 1.3100 is in sight?
Feel the Fear and do it anyway!!!
  • #80
  • Mar 6, 2012 9:29am Mar 6, 2012 9:29am
If anyone wants indicators I HIGHLY recommend this sweetspot indicator to help you quickly see how many pips price is moving at a simple glance. It was given to me by an old friend (I hope she is still alive and well!) and I have used it ever since.
Attached File(s)
File Type: ex4 10 sweetspots - light.ex4   3 KB | 286 downloads
File Type: mq4 10 sweetspots - light.mq4   4 KB | 334 downloads
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