Scalp, scalp, scalp

i have two longs from 1 from 63 ,1 from 80,and the add on at 02 ,which just got stopped at open price,the longer 2 are tight at 97 stops.shift in values

all stopped,+34,+16 _ 2 pip spread,will concider a short on retest of 98 level,weekly average if values support

short from 94 level,stalled

stop b/e,limited risk ,very drifty values

very slow ,at + 5,twilight zone

closing at 71 level,+ 22 pips,

im done till tomorrow

So Scalping is just about 10-20 pips per day?

thats a difficult question esmicompra,

what is scalping .ask that question to ten different traders on this forum and you will get ten different answers.some would say scalping is being in and out the market in minutes picking 4 and 5 pips moves,some would say scalping is a trader that picks 30 pips 1 time a day,i could go on and on.im not sure if there is a set of conditions which would define scalping,although ive read many.

if price moves from one given point to another and im able to capture that move could i be defined as a trend trader ?

ive tried to steer away from using lots of technical names used on these forums.i think they confuse thought and cause subconscious bias.

when i first set out on this trading journey .i went into a frenzy to read every thing i could get my hands on,wow within 6 months i was like a walking zombie ,technical jargon and conflicting information was dripping from my ears.

thats when i stopped reading the books and started studying price,looking for information only on relevant information that would assist my development.

if you could capture 10 pips a day would you be a contented man ?

so i guess im not qualified to answer the true meaning of scalper,

id be happy for anybody to define this word

i bet you wished you had never asked.

lets make some sense from yesterdays prices,

all the big averages were from 63 level upto 98 level.

the smaller time frame levels had filled the gap between 16020 and 63.

so the spike down picked up all that interest from 20 to daily average at 63,whilst this took place the values were increasing against the doller ,the yen was also falling .agreement for the risk currencies if no other reason than to trade back were theres an abundance of orders at the larger averages.

hence i was buying.

THE VALUE CHANGES

my last add on to my longs was at 16102.the 15 min split high,cycle completion.but the corresponding values took out there stalling points.

the stall point is were the related pairs stop increasing in value,i note these values,the stall point across the market.
this is why i added at cables high.now this is the cruz,

cable would need professional money to take the high out,this would show itself across the market.that didnt happen

the related pairs values dropped back below there stalling points.this would show on those charts as a spike .

i could only hold my added long for fresh money comming in,but the reality is that my concentration is focused on dumping my added long and protecting my profit from my previous longs in profit,hence i bought all the stops very tight and was closed out.

my next trade was a short as posted live yesterday.
price quickly fell below the big averages and finding an entry short was my objective.the values were all switching ,money going back to doller and yen.i was looking for price to come back to the weekly average 98 level.the point i know there are orders.it stalled at 94 level and thats the best price i could get.entered short 0 drawdown ,values agreeing on doller buying and flattish yen.all typical of range market.

very little money flow,values steeering me to hold short as price drifted towards the daily average.

hope this gives some sense to my way of perceiving and trading orders

Hi, Diceman

Thanks for your reply. I'm starting in the FX world so there are many concepts I dont have clear.
Btw, whats the pair what your trading and comment here on this thread?

Best

VALUES.

the key point here is to steer away from the information that tilts us away from using correlations.the % charts for correlated pairs .

we are only interested in the now moment the next values change.not % of how correlated currency pairs are.

the cause and effect of this moment .is what we want to know.

in the traditional sense one would believe they offer no advantage.we are not interested in the long term correlation .

all we want to see is this moments effect on the flows and its effect

we want to see were the market is buying dollers or selling dollers,in favour of yen or risk currencies,the flows ,the orders across the whole market.the overall range of the market

i only trade GBP / USD

yes it can be confusing when you first start out,so much information,infact one of the killers in this world of FX is information over load.

im not qualified to direct you to any given place ,im not sure there is such a place.

sorry to be so uninspiring .my only suggestion would be to read reminiscence of a stocktrader,jesse livermore,thats the only book which helped me find what i was looking for.

good luck and feel free to drop bye ,

ps,my thoughts on this thread,its a journal of my development ,my findings and my evolving understanding of the market.just one tip,it does not have to fit the glove .

taken long from 16040 level

stopped out at the low,initially got a lift but a shift and was somwhat trapped in loss 7 pips

back long at the lower price 33 level,here is also my previous long i got trapped in with no b/e option

my stop is at 29 just below the recent low,not getting enough from the values here

wow,that will teach me just got smashed with slippage cost me some serious money,9.30 news ,

umm coffee time,my gains from monday and tuesday our back with the broker,it does not happen very often but when it does its painful,

quite flat market,havnt managed an entry thus far .pretty much dollar and indices.

long entry at 84 level,tight stop just below the pin