Scalp, scalp, scalp

i gather you are just trading 1min

im closed at the stall point for +8,

yes all my entries are from 1 min

short at 34 level

closed out _ 4,lots of buying of the lows,at present not absorbing it

i do love watching price,even when im on the wrong side ,or at least when i dump with minimum damage,but this was good to watch,the highs were being sold and everthing looked to continue down,then my first signs to exit was the strong buying off the lows,i held to test the average price,but by that point the values also shifted in synce,my failing here was not switching directions

bigger picture levels,

ive presently got a short position on cable from the daily average 15958,and just added at 47 level.its a cheeky attempt to build a limited risk position down to the previous moths average.15855.timing not in my favor but see that level coming into play in the near futer.ill average the 2 shorts and take overall limited risk .as i say a cheeky attempt . had a good day scalping the daily average so ill go with it

not to be both stopped with overall loss off 12 pips,that daily ave still attraction point.

see ya tomorrow

ref;1 min cycles

ref;1 min continued cycles

ref;1 min cycles ,band range opens approaching roll over.converging upside to weekly

Diceman555,


Great thread. I like your risk management strategy. I also trade the 1M charts so my risk is 10 pips max or less. I just started trading the 1M chart. I will continue to read your posts to learn more.


Doinan

Hi .
Im pleased your enjoying my journal.yes the risk management is pparamount with my method .its evolved over time. Earlier in my journal you will see my stops were much larger but my hit rate was extremely high.the problem was the strings of losses which took me some time to figure the large swings in my growth.hence now my curve in growth is smoother. Although my hit rate has decreased but I have a better overall growth.my averaged rr has improved greatly.

These 3 elements need to work as one..if one is out of synce with your method it can produce a negative outcome overtime from a method which if in synce would be positive.

Risk managment is a key component for my method
Thanks for dropping by

15855 just completed monthly cycle.been waiting for this drop back down to this big average amd interest level.was slow in tje making but dropped like a lead balloon.taken a scalp rebound trade from the 55 stop b e .below 50 will look at shorts

Stop at 61 + 5 pips

Closing 78 the stall point.21 pips.

Been a good morning.im done for the day

The rebound of the 15855 monthly ave and converged level of interest resulted in a possible 90 pip move.i think a lot of supply and demand traders were caught with entries at 159 10 levels.which most time frames showed that level as demand.thats my only critism of trading that way.its to static and dosnt allow for continuous reshuffle of cross market position changes.the demand was converging for the last week plus towards the 15855 level.this takes into account multiple adjustments and new intetest.

My interest now lies at that 15855 level and 15910.both the levels I will play froM

Lots of GBP news coming up. Any bias?

I take my bias from certain levels and the values from related pairs.im presently long on cable from 15904 .traded into the 10 level.which was early entry based on the values indicating overall doller weakness. Stop b.e ver quickly .as you say lots of news tofay and and anticipating the outcome from that is somthing we will never know.or certainally intraday .

The values atr the most forward indication of immediate bais.