Manual scalping adventure

a newer, more up to date journal of mine here: https://www.forexfactory.com/showthread.php?t=678455

Welcome Visitor!

Decided to change this OP, since some of the staff is dated here ( old Trade Explorer), and some no one would care about ( the personal).

What haven't changed a bit, that I am still a scalper, and still scalp with 1 indicator to help to find my entries (RSI).
I am looking for particular set ups defined by M5 and M1 price action.
Target is usually small, 2-10 pips.
For me scalping is in and out, hit and run...I am not looking to establish positions, ideally out within 5 min from everything.
My account is small, live and not public...the reason that due its size makes large % returns daily, and that would be misleading for some; better concentrate on the charts.
The charts, I posted has lots of info, there is little secret left; if any question, ask.

The current demo Trade Explorer attached is a self challenge aiming for +ve pip count. It leans toward intraday position trading, and have little to do with my intraday scalping.

Subscribed.
I love scalping, your track record rocks. Keep it up bro.

Good Luck, although I hope you don't need it :-)

Thanks.
Was wondering, do you scalp manually? Your profile has lots of good EAs, assume you are, Jerome from that .no website?

I sure need luck. Too.
But try my best not to abuse it!

Just found out, that ForexFactory calendar and my time zone not in sync.
A rather painful finding.
On the live got into some trade I wouldn't want to approach this way if that is the red news, what I assumed from the calendar that is still 1 hour away. NOT!

The demo does OK, but really, which should I care more?
Some changes to come I believe.

BTW, I scalp mainly along the RSI.
On 1 min TF AUDUSD that 97 was something
And I mean not something I want to remember!
Unfortunately, this is also a pair I chose because moving today quite benign...and there you go, does 2x the range on the news than EURUSD?!

A day a wont be proud of
Let some rules slide, out of shock, that this stupid news calendar synced to -1 hour to my local time. End of the day I was who didn't do the homework, of course!
And who doesn't do homework, has to suffer the consequences. And sufferer, I did...

Firstly, got caught in the fast moving AUDUSD...not knowing THIS IS THE NEWS, I was brave to build up my position/s, to a point where even by a few pips, but a part got margin called...
Again, my stupidity, should just lighten up on it enough to avoid margin call. What a difference it would make in the end result.

The freed margin then I used to scalp around the existing position with small sizes...my one good move on this trade. Did catch 3 trades that neutralized the margin call loss...not the potential gain it would bring, but some painkiller at least.

The just sit and watch how the market moves...let me tell you, after NY close not much. But I sure couldn't sleep anyway, so kept watching, while reading the forum on the side. The price was halfway between my proposed TP and the point ( new breakout over the high) when I decided to cut losses finally, whatever happens.
Even right now the price is just teasing my would be TP level, so, I am just happy to be out.
In the process I gave back all the gains of today, about +8% till I took this trade, + 1/3 part of yesterday's too.
Back to where I started, technically.

Another lesson learnt!
And yes, the DEMO was again smooth sail today, and only I think that is mental, because the same entry rules, though I took different trades mostly on the 2 accounts.





Calculate and recalculate mentally what I should do, even asked my wife in the morning when she woke up, that A. bail out with about 10% capital loss, or pray for whoever I might think help with this.
Well, I don't think God has regards about trading, and my wife wasn't any help neither, too busy with breakfast to care about money.
Typical Thai girl

Decided to get out at balance in the end, what I just did. Though the price not yet would hit my TP, I ran out of prayers and just wanted this trade over.

psychological bias : blaming god, wife, and the dog.
You are the sole responsible
AUD slamed me a bit too these last 48h/.
Keep it up

LOL, I think you misread, that was a little sarcasm against myself.
I don't blame anyone but me, especially for getting margin called on a part of the position by that few pips. Now, that was the worst mistake.

Today so far zero trading, and it isn't because of fear, simple not yet found any convincing entry.
Tomorrow and day after kid's school holiday, so, to be seen how free time is; end of the day family over trading for me.

Oh, and still struggling a bit to get the broker time/my time/FF news calendar time all lined up...daylight saving or not. But I am positive I will get it sorted.

OK, after a chart from yesterdays disaster...
For a change here is a very fresh example how it is when things are going as per plan.
This was on the demo, for a quick in and out, "as per plan"

Once again, the similar pattern on a different pair, this time it is GBPJPY. And this time it is the live account.
Quick exploit, for almost 9 pips.
Yes, I know, it always could be more, but that is not the point.
This single trade brought in +1.6%, and while in $$ terms it isn't a who lot, but living in Thailand, this is almost a day salary at minimum wage. Just some food for thoughts...
The chart has no lines originally. I only draw a few things to make things a bit easier visually. Or strive to. I am not a Picasso.

Live account ran into some problems...not equity-sise, it is healthy that way.
Waiting from resolution from the broker...Will be able to trade again once that is back in order.

On demo experiencing some drawdown, not well thought out since they pissed me with the live just before. However, I am confident in that pullback on EURUSD.

As a side note:
Today I read somewhere, probably a FPA guru? that for the day AUD and CAD would be a buy showing lots of strength, against USD, GBP or JPY.
Looking at the chart at the end of the day, what a mistaken call!!
Yesterday did offer a strong move up to those pairs, but today they gave back all of that + some. A reason why generally ignore things beyond the next few hours, ignore gurus, and ignore the currency strength beyond what the naked eye can figure from the chart.
For a few minutes, or worst case a few hours in a position, I don't really need those.
I strongly believe that:
A. no one holds a crystal ball to tell the future for sure
B. it is lot easier to predict accurately where the price will be the next few minutes, then in the next day or week.

Apart from creating a potential big blow for the demo, it was a rather successful trading day on the real account, if successfully fix the things up, then it should show about +8% for today, I think.

My live account is back to normal trading conditions, the broker did it finally, after 3 chat session and 1 call.
But as for now, due the Scottish news, and unclearness about if or when the broker want to follow suit and change to a 50:1 leverage like many others, I decided the best just to stay on the sidelines, however profitable the day seems.

My demo account recovered, as expected, although it was running a large DD. Sometimes you just convinced about a move, and want to stick, though it was rather a trade I stopped managing last night, after the live account problem with broker.
I also learnt in the process that my broker uses 10pm for rollover and charging swap. I thought it is always midnight broker time. Obviously not.

Also, who care to notice, I added a GBPJPY sentiment. It is strong bearish, in the next few days. A very rare situation when all 1H,4H, 1D timeframe line up to be extremely overbought, about RSI 80 each...such is a very powerful set up, and I would expect a 150-200 pips pullback from the current price.
I don't currently trade longer term, used to, and these sort of set ups very rarely if ever failed me back then!

As for scalpers, should watch out about a trend change, and sudden bearish price moves, at this points (approx. 178.30 now) I would consider higher risk to try breakouts to trade, something not worth the risk vs. reward this time.
I am not one provide predictions often, will visit back to this call in some time later to see how it turn out.

Not too much to write home about the trading today.
Not particularly nice trading, huge moves in the morning on euphoria from Scottish referendum ( GJ edged higher then I thought would be), however as the day went on, so the GBP collapsed too. In fact right now it looks that the call on GJ will pay out.

Did some scalping, both account feared good, and end of the day that matters.
I believe the week is over for me, just feeling too tired to try to tame the NY market for now.
Demo finished the week +50%, live account +18%. Not complaining.

Should the mess from yesterday fully cleaned up, these numbers would further improve a little. Waiting to see that happen.
Also, tomorrow will probably test the broker's withdrawal system and speed.

Happy weekend for everyone!

The morning started mixed today.
My main internet connection was down, aftermath of the night storm.
For every trader, it is a MUST to have a secondary internet! One more time, a MUST!
Although I never really carry positions, that isn't part of the scalping plan.

As for the trading, the morning started quite nice, though EURAUD isn't my favorite pair to trade.


Later I had one more go at it, after broke the resistance around 1.4450.
The second round I wasn't that happy about, as initially it went against me more then planned, ( thought that the breakout will fail around 1.4480), and then on the pullback I was way too quick to rush for the door.

The day isn't over just yet, the start of the week is definitely positive so far.
In the meantime I toy around a bit with cTrader from IC Market, something new. It seem to suit scalping all right.

Decided on an early finish today.
Looking back, hardly remember a day when all positions went down in a single pair...and never would guess that to be EURUSD.
But result is ok, a start for the week.
Demo +19 pips or 5%, live +17 pips or 4%. Content with this.
Tomorrow another day!

Quoting profitfarmer
Long story short, I got a very funny fill, but nevertheless when I was intended to close the trade, I got off quote message repeatedly...first support person offered that it is probably due low liquidity...on ECN...!


Just like to inform the forum, that the previous problem I experienced on my ECN account with an order being displayed as OFF QUOTE and for the repeated tries was unable to close...
I am happy to say that the problem is SOLVED.
Exness did fair, from ECN log RECALCULATED the original order rice when close order first got requested, and deposited back the difference to MY ACCOUNT.

Unfortunately, this recalculation doesn't go good with the Trade Explorer showing the correction not as profit but as deposit, wrongly.
For this reason I decided to withdraw the amount /2000, or +12.5% of the rofit on the initial deposit./ On the plus side, it is a good chance to test the withdrawal speed of the broker.

Not really worth to put up chart for today, quite a normal trading day, apart from the GJ long that ran away initially some more than planned.
both trade explorers finish in green ( yet every day since running them?), with decent profit for today, 5+%.
And the withdrawal approved. A successful day, altogether.

Yesterday I managed to have my first losing day in this month.
And why not on the live account, if losing. What even more pissed me off that until those trades I was up for the day, and should just let it at that, since until late in the day it was very boring trading, but green pips matter, so, was not really unhappy.
Those days when I search for extra thrill are over, I believe.
Of course, one shouldn't care the aftermath of a trade when scalping, especially...what I mean, no point of looking where the price goes after the exit...usually would be able to book more pips, but scalping isn't about taking the max. pips, it is taking small bits and pieces, with a relative high %W.
The aftermath was, that I got out at about the bottom, and had that bad feeling, but then also don't want to gamble the account on it, with the EUR breakdown, and essentially being open for a free fall with no near term supports to bounce back from.
But EURJPY would indeed close at TPs, and would cushion all loss to about 1/4 of the total loss I suffered like this. Not sure what lesson to learn from this, but will figure out something.

Incidentally, the demo fared better, again, and still without a losing day. Too bad, that it is demo $$$ only, as that account is doing beyond my hopes, for sure, with 150%+ for the month so far...
Now all I need is to improve the live results too.

All right, I believe that I am done with trading for this week.
A rather quiet Friday, at least for my taste. Did follow it here and there, did some small predictions to myself and those all did work out, being pullback or breakout...BUT after the large loss 2 days ago, I am feeling just a bit overly selective, and very trigger happy to get out with some gains. Not the best, but unfortunate or fortunate, it also confirms that I am not a robot. And as much as trying to distance myself emotionally from the outcome, it only works to a certain extent.

Yes, I know for 100%, that being emotional sometimes, being it fear or greed, is my main enemy.
The demo vs. live account TE is the only testimony one needs to understand what I mean.

Anyway, the results of the week not to bad
3rd week of demo, and the account stands at +165.3%; this week have seen another +21% increase. Not that impressive as last week was, but it is week on week gains! Not to mention that all achieved with no losing day there so far! While I tend to build up some the positions initially offer better price, it isn't martingale really.

The live account had a losing week, down -3.1% for the week, but after only 2 weeks trading it is still up a healthy +27.5 %. Afterall, if not that 1 losing day, it would be another 20 more %; still, not unhappy.
For the live account, if I would have to choose a target, it would be about 5-8% a week, so, still great results.
And there is always another week to make up for the losses.

Happy weekend everyone!

ps:
1. today got an email from [email protected] faulty Trade Explorer for the live account had been reset/fixed...the shown results are the correct numbers now.
2. received the first cash withdrawal from my broker, Exness. It always nice to see they send the money fast, not only take it.