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Attachments: C-12's Supply, Demand and PA thread
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C-12's Supply, Demand and PA thread

Parity seemed a good place to buy.
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Quoting sholti
hello c-12. Thanks for your thread. I have be follow for some day i have found it useful. I want to ask how many pairs do you see and wich is your trading money managment. again thanks
Basically I look at the EURUSD, GBPUSD, AUDUSD, USDJPY, EURJPY and USDCAD

Money management is 1 lot x 2, 6 pip stop loss and usually 2 or 3 positions. Recently I've been a little more flexible on the rules. Got me in trouble a few times but also helped me stay in a few more trades.

Update on CAD. one position off.. 2 left.
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On a roll today. Small scalp back up and then added another short.

This is what happens when confidence returns....
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Alright I'm done for the day. Have a great weekend.
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Quoting C-12
Alright I'm done for the day. Have a great weekend.
massive trading... congrats
Quoting C-12
Basically I look at the EURUSD, GBPUSD, AUDUSD, USDJPY, EURJPY and USDCAD

Money management is 1 lot x 2, 6 pip stop loss and usually 2 or 3 positions. Recently I've been a little more flexible on the rules. Got me in trouble a few times but also helped me stay in a few more trades.

Update on CAD. one position off.. 2 left.
thanks for your response
took a trade on M1

closed it already for a couple of pips because it's Friday late session.
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C-12, what's the score on the week ?? did you make up for Thursday's issue the rest of the week.


What happened to lose that much dude ??


Don't worry, I've been there countless times.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
Quoting Turveyd
C-12, what's the score on the week ?? did you make up for Thursday's issue the rest of the week.


What happened to lose that much dude ??
Well I ended up the week positive(just) but it was a tough week with many lessons learned.

I tried to build a large swing position off the M1 chart that failed miserably. I also tried to pick a few exhaustion tops with the ATR and got stung. It's amazing how much of an impact a string of losses has on your trading.

Even on Friday morning it was very hit and miss but by lunchtime I got back to business. Confidence plays a big part of my trading method so I can't afford to lose composure like that and I need to stick to my plan.
Hey C-12

I see you trying to swing trade simultaneously with your ltf trading. That is a hard ask as the mindset for both is different IMO. You appear to have an edge on the M1 - may I ask why is it that you dont just build on that without over complicating things? Once you have a proven edge then it is about gradually increasing size....at least this is a common line of thought.

interested in your take


Lindsay
All that matters is winning the week
Quoting lindsayf
Hey C-12

I see you trying to swing trade simultaneously with your ltf trading. That is a hard ask as the mindset for both is different IMO. You appear to have an edge on the M1 - may I ask why is it that you dont just build on that without over complicating things? Once you have a proven edge then it is about gradually increasing size....at least this is a common line of thought.

interested in your take


Lindsay
I agree with you, however scalping can be very intense and ultimately quite draining.

I'm hoping to get to a situation where I can just make one short term trade per day but also have some open swing and position trades running simultaneously. Once I cut out the silliness I know I can make a good living out of this.

I've just started using a spread betting account but I can't get used to the higher spread. Maybe time to look for another ECN style broker. I like Armada so far but I woudn't want to hold too much with them.
Quoting C-12
Well I ended up the week positive(just) but it was a tough week with many lessons learned.

I tried to build a large swing position off the M1 chart that failed miserably. I also tried to pick a few exhaustion tops with the ATR and got stung. It's amazing how much of an impact a string of losses has on your trading.

Even on Friday morning it was very hit and miss but by lunchtime I got back to business. Confidence plays a big part of my trading method so I can't afford to lose composure like that and I need to stick to my plan.

Positive is better than going backwards

Swings can be a pain, need to set your risk to say 3x's your scalp risk you likely had it 20x's or something hence the damage, great if they work out but the longer you hold the more it becomes a 50/50 game.

ATR is good on a average day, anything that is outside average will likely continue in that direction, better joining it than fighting against it, which is easier said than done.

I can see your point on trying to build a more hands off method, but I've given up on this, just increase your lot sizes and reduce the hours / days you trade go more part time as your account grows and stick to what your good at. Yes trading the same thing gets boring then you get creative and downward spiral again.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
Hi C-12
good thread with full of information
already subscribed
I may also put some information
will be watching & learning
walker.
Quoting C-12
I like Armada so far but I woudn't want to hold too much with them.
C-12, would you mind giving an explanation why to this?

Thanks,
Quoting Hct1
C-12, would you mind giving an explanation why to this?

Thanks,
Sure, they're based in Estonia with no UK FSA guarantee so who knows if they might just vanish one day. But for a relatively small (ish) scalping account I really can't complain at all. I've definitely had no cause for concern so far.

I think it's probably a good idea to spread funds around just for safe keeping.
took my first trade:
first TP taken 6 pips will see were the rest goes
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Closed rest at BE +1

Quoting Ratatuia
took my first trade:
first TP taken 6 pips will see were the rest goes
took another trade: and TP all: +5.8 (slipped 0.2)
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Quoting C-12
Sure, they're based in Estonia with no UK FSA guarantee so who knows if they might just vanish one day. But for a relatively small (ish) scalping account I really can't complain at all. I've definitely had no cause for concern so far.

I think it's probably a good idea to spread funds around just for safe keeping.
Alright, then I understand your concern. Otherwise they have great spreads looking at your charts. Are you looking at other brokers at the moment?
Quoting C-12
I agree with you, however scalping can be very intense and ultimately quite draining.

I'm hoping to get to a situation where I can just make one short term trade per day but also have some open swing and position trades running simultaneously. Once I cut out the silliness I know I can make a good living out of this.

I've just started using a spread betting account but I can't get used to the higher spread. Maybe time to look for another ECN style broker. I like Armada so far but I woudn't want to hold too much with them.
what spreads have you been used to as IG spreadbetting spreads are usually 0.8 for eur/usd occasionally 2
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