Scalp all the way... | Page 6 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Scalp, scalp, scalp 5,689 replies

To scalp or not to scalp? (Images included) 18 replies

Is there a way to stop trying to scalp tops and bottoms 12 replies

Rsi+,o,emtum+stoch All Time Frame Scalp System 1 reply

time to Range SCALP all day people 1 reply

Attachments: Scalp all the way...
Exit Attachments

Scalp all the way...

  • #101
  • May 16, 2015 4:31am May 16, 2015 4:31am
Quoting judokamak
Funk, great job, keep it up! With this tempo, you can quit your job in no time! {quote} I don t understand some people. Would you share something, that s giving you an edge in the market? Something that you ve been working on for x years?
Thanks... Well I hope so... it would be nice...but I also have to realistic and keep those feet ground... I will explain in a post for people to read.
  • #102
  • May 16, 2015 4:34am May 16, 2015 4:34am
Quoting FunkThatPunk
{quote} Cheers... thanks! You will always get people that approve and disapprove... if we were all the same, life would be boring.
You are right buddy.... everything in this world have two faces..... day and night, sun and moon, plus or minus, etc and even a game will have two sides, otherwise there is no reason for existence....
  • #103
  • May 16, 2015 4:54am May 16, 2015 4:54am
Ok a couple of things... I thought I ought to explain.

I have put this in the trading journal section for a reason and that is to inspire other people... I was not going to at first, but I did and not 100% sure if I made the right choice?!?! I am a normal bum of the street and if I can do it... then there is no reason why you cannot do it... think outside of the box, that is all I did.

I have been trading for 7/8 years at a loss (not massive, something I can afford to lose), I dropped in and out of FF and lurked and watched and traded and lost and jumped from system to system, overtraded, etc... you know the drill. Spent lots of screen time looking at charts and then the penny dropped for me, so I walked away from trading altogether for a bit whilst I know what I wanted it was how I was going to achieve it and it was the best thing - I did not trade or stare for hours on end at a screen and with a clear head I came back stronger and did what I set out to do and this is where I am now.

So I have put 7/8 years into a couple lines... seems stress less, but it has been anything but that.

I thought this was going to take 5 mins to write, I have not finished... and have more to add, but I have to go as like the rest of you... I am a family man myself.

Bye for now.
  • #104
  • May 16, 2015 5:08am May 16, 2015 5:08am
Quoting judokamak
Funk, great job, keep it up! With this tempo, you can quit your job in no time! {quote} I don t understand some people. Would you share something, that s giving you an edge in the market? Something that you ve been working on for x years?

Well it depends if my sharing it would affect my results, am no genius so you are free to make me understand how sharing the indicator here could affect his success , Warren Buffet always shares his investing ideas but knowing is far different from application so even if we had his indicator we would not necessarily be successful with it, and that's what the 7 to 8 years is for and not the indicator , I guess you know better.
Buying the currency being demanded Selling that being supplied
  • #105
  • May 16, 2015 5:50am May 16, 2015 5:50am
Quoting Financier
{quote} Well it depends if my sharing it would affect my results, am no genius so you are free to make me understand how sharing the indicator here could affect his success , Warren Buffet always shares his investing ideas but knowing is far different from application so even if we had his indicator we would not necessarily be successful with it, and that's what the 7 to 8 years is for and not the indicator , I guess you know better.
Ideas are one thing. The net is filled with trading ideas. Ideas can have an agenda. I ll give you an idea right now. He mentioned, that his indicator is connected to volume, so do your home work.
It s true, that a tool itself doesn t make you successful, but discovering it, planing it and learning it often does. This bussines is not for people who prefer to be spoon feed.
  • #106
  • May 16, 2015 6:10am May 16, 2015 6:10am
He's not going to post the indi - that's obvious! But of course he's within his rights. It's a bit naughty though to start a thread bragging about a wonderful indi and then not sharing it!

Anyway I use a very good indi that works really well on the 5 min chart. For scalping but also great for longer lasting trades (along with a good template) when price action locks into a trend. Scalping is extremely stressful however and not for everyone
  • #107
  • May 16, 2015 6:18am May 16, 2015 6:18am
Funkthatpunk,

Do you use a fixed SL or close out the trade manually if it does go significantly against?
  • #108
  • May 16, 2015 2:20pm May 16, 2015 2:20pm
Quoting jmtini
Funkthatpunk, Do you use a fixed SL or close out the trade manually if it does go significantly against?
No fixed SL... if it goes against.... I will take a loss.
  • #109
  • May 17, 2015 10:51am May 17, 2015 10:51am
Quoting FunkThatPunk
{quote} No fixed SL... if it goes against.... I will take a loss.
Dont you think you are taking too much risk, leaving a trade without stop loss set could be dangerous if unexpected market moving news is release and the pound gaps up or down, I would think you should just set up an initial 100 pips stop loss but still close the trade when you would still close it if you didnt set up a stop loss.

Also can you advice how you decide when to close a trade in profit? do you use levels or time?
Buying the currency being demanded Selling that being supplied
  • #110
  • May 17, 2015 3:34pm May 17, 2015 3:34pm
Quoting Financier
{quote} Dont you think you are taking too much risk, leaving a trade without stop loss set could be dangerous if unexpected market moving news is release and the pound gaps up or down, I would think you should just set up an initial 100 pips stop loss but still close the trade when you would still close it if you didnt set up a stop loss. Also can you advice how you decide when to close a trade in profit? do you use levels or time?
Trading is full of risks and you need to find your style of trading and what you are comfortable. I said before, big risk=big rewards, big risks=big failures.

If the markets gap, nothing you can do - no SL will help you. My general understanding why gaps appear during normal trading hours is down to liquidity being drained and therefore the market will move to a point where there is enough liquidity.
  • #111
  • May 17, 2015 4:46pm May 17, 2015 4:46pm
Quoting FunkThatPunk
{quote} Trading is full of risks and you need to find your style of trading and what you are comfortable. I said before, big risk=big rewards, big risks=big failures. If the markets gap, nothing you can do - no SL will help you. My general understanding why gaps appear during normal trading hours is down to liquidity being drained and therefore the market will move to a point where there is enough liquidity.

Ok, Also can you advice how you decide when to close a trade in profit? do you use levels or time?
Buying the currency being demanded Selling that being supplied
  • #112
  • May 17, 2015 4:57pm May 17, 2015 4:57pm
Quoting Financier
{quote} Ok, Also can you advice how you decide when to close a trade in profit? do you use levels or time?
With the high leverage, this is difficult to achieve. That is why I am happy taking some scraps of the table, as I can come back for more scraps later on.

I have found it difficult taking a lot from the table, but found it easier taking a little of the table.

I would rather not be in a trade, than be in a bad trade.

How many times did you think to yourself, I should have exited that trade?

Lets see what happens this week.
  • #113
  • May 17, 2015 5:09pm May 17, 2015 5:09pm
Quoting Financier
{quote} Ok, Also can you advice how you decide when to close a trade in profit? do you use levels or time?
Ok I also see what you are saying.

I also look at the longer TF... if you have a look at GBPJPY daily you will see that we are approaching an area of resistance and also you have a look at the daily ATR... it has slowed down.

There the buys are going to be more in my favour. I use dailys, weeklys, monthlys as a gauge and nothing more.

I just use the hourly and use my indicator to provide confluence and then move down to the minute/5 minute chart to look for my entries. Once in profit I have a goal... i.e if I have made 3%+ for that trade, I will close and be happy with that.
  • #114
  • May 17, 2015 6:29pm May 17, 2015 6:29pm
Quoting FunkThatPunk
{quote} Ok I also see what you are saying. I also look at the longer TF... if you have a look at GBPJPY daily you will see that we are approaching an area of resistance and also you have a look at the daily ATR... it has slowed down. There the buys are going to be more in my favour. I use dailys, weeklys, monthlys as a gauge and nothing more. I just use the hourly and use my indicator to provide confluence and then move down to the minute/5 minute chart to look for my entries. Once in profit I have a goal... i.e if I have made 3%+ for that trade,...
Any reason why you prefer to trade GBPJPY? Not saying it's a bad idea because you're doing so well. Just that some other trading pairs often have nicer smoother and longer lasting trends, especially if you're trading the 5 min chart
  • #115
  • May 18, 2015 12:46am May 18, 2015 12:46am
Quoting FunkThatPunk
{quote} I have just looked at your trading results at a really quick glance and you do not seem to be doing bad yourself!
thx bro, good luck to us!
G
  • #116
  • May 18, 2015 2:28am May 18, 2015 2:28am
1:500 Leverage? the R:R ratio is not fun to the eyes at all but the reward is

Subscribed with interest.
  • #117
  • May 18, 2015 2:44am May 18, 2015 2:44am
Hi Funk, of what use is the bollinger bands and what is the settings.
  • #118
  • May 18, 2015 4:11am May 18, 2015 4:11am
Quoting jmtini
{quote} Any reason why you prefer to trade GBPJPY? Not saying it's a bad idea because you're doing so well. Just that some other trading pairs often have nicer smoother and longer lasting trends, especially if you're trading the 5 min chart
It is a pair I am comfortable and mainly the indicator at present only works on this pair.
  • #119
  • May 18, 2015 4:13am May 18, 2015 4:13am
Quoting FxLapozi
1:500 Leverage? the R:R ratio is not fun to the eyes at all but the reward is Subscribed with interest.
I know.. though big risk=big rewards.... big risk=big failures.

  • #120
  • May 18, 2015 4:18am May 18, 2015 4:18am
Sell opportunities with confluence (bottom RED bars)

Attached Image
0 traders viewing now