Scalping techniques on 1 Min chart | Forex Factory

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Scalping techniques on 1 Min chart

  • #1
  • First Post: May 26, 2006 6:54pm May 26, 2006 6:54pm
I'm on a demo using VT from CMS
I"m looking for scalping techniques cuz too nervous to wait hours, days and my job doesn't give me time to keep the chart open for long
plz help....
If it ain't tough,it ain't right. Think outside the box.
  • #2
  • May 26, 2006 7:08pm May 26, 2006 7:08pm
If you are tight on time, I say dont do 1Min but try Position or Swing trading.

Here is how you can go about it.
-At the end of everyday, maybe after 5pm and before Asia opens, go ahead and review+study the charts.
-Find some swing or position setups and place Stop buys and sells for the next day or so.
-This way you save alot of time.
-Position and Swing trading would mean that you will hold your trade for days or so. How ever Position trading is actaully way longer then just days.
-I would not touch 1min charts, too much noise man. Unless you know what you are doing and have a large account to trade with margin.

Hope I helped at least a little.

Good luck in your trading.

-Alex
  • #3
  • May 26, 2006 9:33pm May 26, 2006 9:33pm
Is ontario on the same zone as new york? you should look at the market opening every morning and jump into which ever way the trend is going. it tend to go in one direction except for days when the news is a long speech or conflicting numbers.
  • #4
  • May 26, 2006 11:08pm May 26, 2006 11:08pm
Quoting nitman
Is ontario on the same zone as new york? you should look at the market opening every morning and jump into which ever way the trend is going. it tend to go in one direction except for days when the news is a long speech or conflicting numbers.
Your right there. If you are swing or position trading you will have to have your stops placed out far enough to allow for those BIG moves against you.
- SAFE TRADING MONEY DUCK
  • #5
  • May 26, 2006 11:38pm May 26, 2006 11:38pm
If i were starting with a blank slate, as it appears you may be, i would follow Alex's advice and look at "End of Day" on a daily chart. Go to the James16 chart thread, learn his basic price action setups and look for them each day at 5 to 7 ish ET and go from there. (here is James' thread: http://www.forexfactory.com/forexfor...ead.php?t=2331 )

I learned how to momentum trade off 1 min charts...and while i am actually quite adept at it now it is nerve wracking and i no longer do it as it was also part of the factor for a 50% drawdown in a small account while entering the FX market last May/June.

Stick with the price action on a Daily chart. It might take you a half hour or so a day sometime in the Asian session and should be do able for just about anyone.

Best wishes,
Thom
  • #6
  • May 27, 2006 8:54am May 27, 2006 8:54am
Thanks guys, for advices.

Watching the EUR-USD for few weeks on VT demo and keeping an eye on Forex Factory Calendar, I try to chanelize my finding in 2 categories.
1. "EXACT" technique.
2. "SURFING" the wave technique.

I also try to use indicators and new relationship between candle bodies and positions @ EMA'S crossings. I'm a candle fun.

On a so volatile chart like 1MIN you have to be very relistic of expectations and very quick.

I found on demo that using EXACT technique you can make 10-20 pips in up to 15 min easy way.
Also using SURFING technique you can relisticaly gain 20-40 pips in up to 1 hour
I'll continue to watch the 1 min chart for few months and later to summarize for you guys my findings.

Ontario time is East Time (same as NEW-YORK)
If it ain't tough,it ain't right. Think outside the box.
  • #7
  • May 27, 2006 8:59am May 27, 2006 8:59am
I wish you luck Nadone!
Im sure you can do it, you sound straight minded.

Share with us how your systems are doing from time to time.
Maybe throw a few screenshots at us.

The guys on this forum and I will do the best to help you out with any tips or anything like that.


-Alex
  • #8
  • May 27, 2006 9:54am May 27, 2006 9:54am
Hi Nadone,

I am not much of a scalper. I tend to gravitate to longer timeframes, but your ideas sound interestiing. Have you tried this live? I was wondering if your broker is ok with the large number of quick trades... I do not have experience with this, so I was wondering if you do, from the broker's perspective...

Thanks Scott


Quoting Nadone
Thanks guys, for advices.

Watching the EUR-USD for few weeks on VT demo and keeping an eye on Forex Factory Calendar, I try to chanelize my finding in 2 categories.
1. "EXACT" technique.
2. "SURFING" the wave technique.

I also try to use indicators and new relationship between candle bodies and positions @ EMA'S crossings. I'm a candle fun.

On a so volatile chart like 1MIN you have to be very relistic of expectations and very quick.

I found on demo that using EXACT technique you can make 10-20 pips in up to 15 min easy way.
Also using SURFING technique you can relisticaly gain 20-40 pips in up to 1 hour
I'll continue to watch the 1 min chart for few months and later to summarize for you guys my findings.

Ontario time is East Time (same as NEW-YORK)
  • #9
  • May 27, 2006 10:22am May 27, 2006 10:22am
I didn't try yet life.
When my 2 ways strategy will show me systematic gains, I will start on a mini account firstand try to perfect life my techniques.
By the way when a broker make 3 pips on every 7-10 net pips I make ,I think
he/she will love it. If not, to hell with' em, the globe is round and big.

P.S.
Being an engineer,I like to read between words and lines and computes all given datas with life experience and profile datas. It is very important to me and my thinking about what you write .
Why not everybody fill in their profile like I did (my birthday month and day is
scrambled, but year is right,and rest of data is right)
you can blend my profile with my thought(postings) so you understand better
what I try to say.
If it ain't tough,it ain't right. Think outside the box.
  • #10
  • May 27, 2006 10:31am May 27, 2006 10:31am
Hi again Nadone,

I am confused by your reply. I no way was trying to disparage your approach. I have heard some brokers do not like large numbers of trades and was wondering if you had found this in your own experience. I see in your answer that you have not, and I thank you for your response.
I look forward to reading more about your progress. The concept sounds interesting to me.

In regards to a person's profile, I think my birthdate is not relevent, but if you need to know to be able to talk to me, I am 55 years old. I have posted that several times before and also other facts about myself.

Thanks Much, Scott


Quoting Nadone
I didn't try yet life.
When my 2 ways strategy will show me systematic gains, I will start on a mini account firstand try to perfect life my techniques.
By the way when a broker make 3 pips on every 7-10 net pips I make ,I think
he/she will love it. If not, to hell with' em, the globe is round and big.

P.S.
Being an engineer,I like to read between words and lines and computes all given datas with life experience and profile datas. It is very important to me and my thinking about what you write .
Why not everybody fill in their profile like I did (my birthday month and day is
scrambled, but year is right,and rest of data is right)
you can blend my profile with my thought(postings) so you understand better
what I try to say.
  • #11
  • May 27, 2006 10:48am May 27, 2006 10:48am
Hi smjones,

To me all the profile data are very important (yes it is not relevant your age
as smjones age, but it is important your age as smjones postings for example)
Knowing your background from your profile help me to screen and understand better what you post.
When I read postings I read also profiles and compute better datas
That is why profiles are in place .
Anyway see you with more thoughts and specific data on forum
EVERY THOUGHT IS IMPORTANT IN ACHIVING THE COMMON GOAL TO BETTERNESS.
LET'S HELP EACH ONE.
If it ain't tough,it ain't right. Think outside the box.
  • #12
  • May 27, 2006 2:37pm May 27, 2006 2:37pm
you're too detailed ... following a series of indicator in a system doesn't require you to know every nuts a bolts ... just follow it if it works in real time. Don't need to be super smart and come up with your own winning formula.
  • #13
  • Oct 21, 2007 5:28am Oct 21, 2007 5:28am
Are the entries / systems you refer to as Exact and Surfing techniques you have made or ones you have found here in the forums?

if so where?
  • #14
  • Oct 21, 2007 6:52am Oct 21, 2007 6:52am
Quoting Nadone
I'm on a demo using VT from CMS
I"m looking for scalping techniques cuz too nervous to wait hours, days and my job doesn't give me time to keep the chart open for long
plz help....
visit my thread , and have a look
  • #15
  • Jan 9, 2008 10:49am Jan 9, 2008 10:49am
I found on demo that using EXACT technique you can make 10-20 pips in up to 15 min easy way.
Also using SURFING technique you can relisticaly gain 20-40 pips in up to 1 hour
I'll continue to watch the 1 min chart for few months and later to summarize for you guys my findings.

Ontario time is East Time (same as NEW-YORK)[/quote]
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
CHEERS 2008

How about your findings??
  • #16
  • Jan 9, 2008 12:57pm Jan 9, 2008 12:57pm
Quoting Charles
I found on demo that using EXACT technique you can make 10-20 pips in up to 15 min easy way.
Also using SURFING technique you can relisticaly gain 20-40 pips in up to 1 hour
I'll continue to watch the 1 min chart for few months and later to summarize for you guys my findings.

Ontario time is East Time (same as NEW-YORK)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
CHEERS 2008

How about your findings??[/quote]

Consider posting your system that you use in the Trading System section of this forum.
  • #17
  • Jan 10, 2008 3:14am Jan 10, 2008 3:14am
Quoting WHTenn
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
CHEERS 2008

How about your findings??
Consider posting your system that you use in the Trading System section of this forum.[/quote]
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~++

Wanted to know what NADONE "discovered".

Ch.
  • #18
  • Jun 22, 2011 5:49am Jun 22, 2011 5:49am
Quoting Nadone
I'm on a demo using VT from CMS
I"m looking for scalping techniques cuz too nervous to wait hours, days and my job doesn't give me time to keep the chart open for long
plz help....
Hello Nadone,
i think that easiest way how to start with scalping is find something about psychical levels + news scalping. Try EUR/USD - i think best pair for scalping - low spread, high volatility + volume. Good Luck
  • #19
  • Jun 23, 2011 9:08pm Jun 23, 2011 9:08pm
I tried the 1 min charts.. and found it a tad too volatile to be consistent.

I like the 5 min charts.. using the 1 min charts to help see momentum and position...
  • #20
  • Jun 24, 2011 3:08am Jun 24, 2011 3:08am
Quoting Nadone
I'm on a demo using VT from CMS
I"m looking for scalping techniques cuz too nervous to wait hours, days and my job doesn't give me time to keep the chart open for long
plz help....
I have looked at a 1min chart and thought it's the way to go. It's way to fast and volatility changes so quickly you can never catch up. I also found it very hard to read from bar to bar.

IMO, I suggest you look at 5 and 15 min if you want to scalp. If you have 10min also good.

Cheers
scfx
The best indicator is price.
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