Cutting the cord with M1 scalps

Two trades. Both CT. I took it based on extreme highs, the London Fix, and what appeared to be reversal price action, along with divergence. The first one lost, the second one was good. It took forever though. Much more stressful than just going with the momentum. I have not taken one of these in a long time. It did not feel nearly as easy as going with the trend. Ended up down 4.3 pips on the day. I can live with that, given the situation I put myself into. BTW, price is still falling and I would be in profit on the day had I stayed with it. oh well.

I love and almost exclusively do CT....
But I thought you don't do much those anymore, promises, more promises.... if I remember from earlier
GJ though is not really ideal to scalp on Oanda I bet, definitely not for me with the spread on my mini account now.
As for the stress, I think it isn't any more than trading the other way around with momentum, after all, CT is also based on that very same momentum; the pullback or turn, or breathing time of that same momentum.
For CT as I see, far the most critical is timing the entry.
If I may load you 2 charts ( something what I do on my live day to day scalping, not the demo in TE!!), the first the M5 pic, the second is aligning it with M1. GJ is tricky now, a black hole....ie. no immediate resistance levels to help your decisions, apart from obvious 000 levels; I think the best to leave alone such charts and look for something else.
I admit I am not the best with trends, but I think CT scalping I can do ok. (Some newer charts also there on my thread)

Just posted a post just for you my dear friend Cappers have a look at it...

http://www.forexfactory.com/showthre...66#post7922766

You'll like it I'm sure...

Took the "bounce with the strength after the news" trade. A classic. I took it early however and had to sit through 12 pips of negative. I exited based on quarter line and the short term resistance there. Also, I am going to be late for work.

Nice one and a nice positive week to boot!!!!

Keep it going

Something else I noticed from your recently closed list of trades...






3 winners ,1 BE and 1 loser....Keep it going

Thank you! The goal is to make the entire performance grid green. Once I do that, cutting the cord will not be far behind! It is on the horizon!

I made it a tough morning. The EU was on the move up so I waited for the pullback and took the trade off the 100 LWMA. I did not let it run however and kept the loss tighter then it should have been. The quarter line held for over 1.5 hours! I took the loss though and then went for an immediate sell. This was an emotional trade only! Very bad! After closing that trade I checked the H1 chart, which had a huge pinbar indicating a likely fall. I sold again, but again the quarter line held. As you can, the original direction and continuation of the London move was the way to go.

In hindsight, this was not the pair to be trading. There were better options at the time. AUDJPY was giving a great sell signal when I started with this mess.

Onward...

The last week of trading for the year. I would guess, based on years past, that the next two weeks will be very low on liquidity as all the big bank money will enjoying Christmas and New Year. Good luck this week everyone.

A quick one.

Tried the continuation here. Failed.

The dragon. Went long at the 184.50 based on a combo on Mongo and Clives 100 LWMA.

Congrats to 919Gilead for cutting the cord beginning Jan 2015! An inspiration!

I checked out charts yesterday morning but did not like the looks of them at all. There was a double bottom on the EU M5 chart around LO, but that was about it in terms of "safe" entries. Instead, my wife and I did some Christmas shopping on my day off work. It was nice to spend the morning and lunch with just her.

Played some poker last night and did very well, but also did not make it to the charts as a result. I will see what NY brings after the 8:30 Unemployment Claims.

Mongo has always pressed for using pending orders. I have been trying to do that. Clive uses them too. The problem I noticed was that when I wanted to move it, I had to do a second confirmation step to set the move. By that time, it was to late and I would have been better off with a market execution. I did some research over lunch and saw that Clive was able to drag his buy and sell stops without the confirmation. I needed to have the "one click" activated in metatrader first to do that. I played with it a bit, which is why you see a 5 pip loss today at 0.01 lots.

What I have not figured out is how to set a buy or sell STOP with one click, instead of setting a limit order. Can anyone help with that?

The dragon ate my lunch as I did not take even 1 system trade. Pathetic!!

A new year, a new start! Here is the first trade of the year. Taken a little early however. I stayed in it to see if it would bounce off the 100 LWMA channel, and it did. The Babon then turned blue as well. Went for the next quarter as a TP, which I did manually. I set a SL at the entry price once I was only 1.5 pips in profit. That is the first time I have done that and to be honest, it took some edge off while watching it.

Had up to 8 pips on this one. I took it based on the third rejection of the 50 line. Took it off of the M5 chart, which showed a pin bar on the candle previous to my entry. I exited at breakeven. I should have followed my original plan and taken the 5 pips.

A CT on EU based on very overbought momentum trading after news. This maybe a retracement only, but it was worth the 5 I like to get. I probably should have stayed in, dragging my SL as it went. Honestly, I did not want to do what I did yesterday (have profit then BE) so I took the profit.

These spreads are 3 and 4 times normal...crazy. I understand that price is moving much faster and further then normal, so it is all relative, but man. I am finding it hard to press buy or sell on anything knowing how far behind I am just getting in!