Cutting the cord with M1 scalps

Howdy, I too scalp m1 before work GMT so Frankfurt & London opens. My ideas for entry are similar &, after trying many exits, I've recently settled on CCI14 breach of 200/ -200 & divergence for my exits if that's any help to you. Check out the past 3 months of this journal (not mine), it may be of use: http://www.forexfactory.com/showthre...49#post7250749. Best of luck.

Best of luck to you too. Feel free to post a chart if you care.

Sure, my best trade of the week on Thursday morning, 7am GMT, was a 23 minute trade on GJ. Here's the exit. CCI14 has breached the 200 mark on the initial move & then threw out divergence at which point I moved my sl to be & held for another move as was only a few pips in the money at that stage. After seeing divergence again after a hammer right on the BBand I pulled the stop in behind the 7:22 candle & got stopped for 17p. You'd be surprised at how good CCI14 is for use on the 1m charts. There is an obvious argument for holding on until seeing the volume enter the market but as a pre-work scalper I want in & out quickly so the divergence did it for me & anyway, as far as I'm concerned, 17p is a great haul off of 1 trade. There will be days when it just keeps going & you're on that 30p+ trade.

Good start.
Just wondering if you are hedging your losing trades or doing what dna suggested and using margin call as stop loss?

Thanks for the chart Sober. I will check it out.

Hello midnight. I do not hedge. I only enter one trade at a time. I definitely do not use the margin call as my stop loss! I have enough at risk without blowing an account. I would rather admit I was wrong and wait for the next opportunity.

2 trades from tonight. I do not trade Tokyo very well. It is usually past my bedtime. I like to try it though. A loss followed by a win. The loss was a very aggressive entry with price between the hull and babon. You can see price was exhausting there and Gensis turned all red. Still, the babon held it up. Once price broke the Hull, I admitted I was wrong and got on the train. Made a little profit between the two trades. Still climbing too!

Need to trust the chart...Ouch.

Looking at the other pairs form this morning, I choose the wrong one. The others look so obvious and made good moves. AUDUSD was very similar all morning and therefore has a lot of overlapping candles.

trying a risky buy. divergence in the M5 stoch. blue genesis. we will see.

follow up... Still down for the day though. Need to find more consistency. I think it is coming, but my patience is getting in the way.

I checked on my pivots to make sure my timezone was correct. Turned out I was wrong. I set them to start at Sydney open now. Once I did that, here is the last trade, going right to the Sydney open. That would have made a great target. Oh well. Next time.

So the US creates fewer jobs yet the unemployment numbers go down? The labor participation number must have shrunk, again, significantly. Who believes these numbers anymore? Seriously? Who?

Slow start to the new week. Yesterday morning was turtle soup. Slow movement. I did not trade in that. This morning I woke up at 5 AM only to find out the power had been out for an hour. It was restored around 11:00. At -10 degrees outside, the temp in the house fell fast.

I have tomorrow off, so hoping for a solid day of "real trading". No distractions, just charts! I may check on them tonight as well. We will see.

I seem to struggle with my first trade each time I take them. Curious. My patience got the better of me here. I took the buy based on candles, but without full confirmation of my other indies.

And the result...ouch. Rough start to the day.

A second trade, which typically works better for me, as it did this time. I am trying to enter sells high and buys low. I took this trade based on the second rejection of the open line, in gray.

I have never traded EURAUD. This was my first. I pulled back on risk. I should have exited at the previous support, but was targeting the BRN. Getting out when I did was good. I do need to make sure to take profit when I can. I do not know if I would have hung on as long as I did with more risk.

EURAUD and its upside-down mirror AUDUSD have minds of their own. Two pairs I have a hard time reading... I curse them all the time (-;

First trade of the day. Wrong again. At least I am consistent in this. Wow. Have to break that pattern! Anyway, the buy was right at a resistance point. As soon as I bought and I saw the line on the chart, I knew it probably would not be in my favor. It started to come back and I was only down 0.5%. It stalled there. I could see the JPY gaining strength on the meter though and knew what was coming. I should have exited then, but did not. On to the next one...

Same trade, slightly different chart. I like both charts. Would this one have kept me out of the trade? maybe.