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  • #1,018,381
  • Aug 12, 2015 4:54am Aug 12, 2015 4:54am
Quoting Schickeria
{quote} {image}
I meant to get such a precise entry for a scalp with so little risk. (I am a scalper). I posted that I thought the next stop was the mofu just before you posted (http://www.forexfactory.com/showthre...82#post8431082). Still in my book to be able to identify even temporary S/R so that you an feel confident entering to-the-pip without waiting for confirmation so that you have so little risk and get 15 or 20 pips is a great skill (And one that I wish I had. I can't make myself pull the trigger without confirmation.)
  • #1,018,382
  • Aug 12, 2015 4:59am Aug 12, 2015 4:59am
Quoting iaveight
{quote} a hug seems fine .............. I hate seeing people lose money for no reason but with so many posts and people trading the lower time frames - who do you listen too when you are new or just using indicators........ I trade price action based on supply demand and when I see people saying i am going short now because it hit a prior top on a 1 hour chart it bugs me because they do not have the bigger picture in their head all is good

Trade your thought with your method ... so how do the other.
they also know what to do
The best thing that can happen to you is to find out where you're wrong.
  • #1,018,383
  • Aug 12, 2015 5:00am Aug 12, 2015 5:00am
Quoting MissPips
{quote} I meant to get such a precise entry for a scalp with so little risk. (I am a scalper). I posted that I thought the next stop was the mofu just before you posted (http://www.forexfactory.com/showthre...82#post8431082). Still in my book to be able to identify even temporary S/R so that you an feel confident entering to-the-pip without waiting for confirmation so that you have so little risk and get 15 or 20 pips is a great skill.
I disagree, why be happy with 20 pips when you can trade the daily chart and at the correct level walk away with 300 - 400 from one chart in a week with protected profit and you can allow your trade to breath and continue with locked in profit, again it comes down to quick money and trading style...

A saying I heard years ago - there are long term traders and there are scalpers, but there are no long term scalpers
  • #1,018,384
  • Aug 12, 2015 5:04am Aug 12, 2015 5:04am
Quoting iaveight
{quote} I disagree, why be happy with 20 pips when you can trade the daily chart and at the correct level walk away with 300 - 400 from one chart in a week, again it comes down to quick money and trading style
when you trade for 20 pips , you may risk 10/20 even 40 pips !
when you trade for 400 pips , you may risk 200/400 even 800 pips !
setup your own system , and peace
  • #1,018,385
  • Aug 12, 2015 5:09am Aug 12, 2015 5:09am
Quoting MissPips
{quote} I meant to get such a precise entry for a scalp with so little risk. (I am a scalper). I posted that I thought the next stop was the mofu just before you posted (http://www.forexfactory.com/showthre...82#post8431082). Still in my book to be able to identify even temporary S/R so that you an feel confident entering to-the-pip without waiting for confirmation so that you have so little risk and get 15 or 20 pips is a great skill.
I use to trade like that for a few years when I had the time. Now, I don't have much time to trade, so I trade H4 and D1 TFs. Less time on charts, less trades, and less stress. Instead of making 5 to 50 pips, now can make a few 100s pips. It took sometime to switch over.

Good Luck with Trades,
Cheers
  • #1,018,386
  • Aug 12, 2015 5:10am Aug 12, 2015 5:10am
Quoting iaveight
{quote}A saying I heard years ago - there are long term traders and there are scalpers, but there are no long term scalpers
I heard this one:
There are brave traders and old traders, but there are no brave old traders.
f(z)=z2+c
  • #1,018,387
  • Aug 12, 2015 5:11am Aug 12, 2015 5:11am
Quoting edyraper
{quote} when you trade for 20 pips , you may risk 10/20 even 40 pips ! when you trade for 400 pips , you may risk 200/400 even 800 pips ! setup your own system , and peace

No one in the community I am with that trades a daily chart ever risks 800 pips or even 400 pips, you adjust your lot size according to the stop loss anyway. I may trade a daily area but within that daily area I will drill it down and place my pending accordingly........
  • #1,018,388
  • Aug 12, 2015 5:16am Aug 12, 2015 5:16am
Quoting iaveight
{quote} I disagree, why be happy with 20 pips when you can trade the daily chart and at the correct level walk away with 300 - 400 from one chart in a week with protected profit and you can allow your trade to breath and continue with locked in profit, again it comes down to quick money and trading style... A saying I heard years ago - there are long term traders and there are scalpers, but there are no long term scalpers
Different stokes for different folks. When you trade the higher tf charts you need to have a lot larger stop. Nothing stops a 5 or 1m scalper from taking a partial at 10-20 pips and setting the rest to b/e. The people scalping short right now (at least the good ones) are doing that, the reason being that they think that fundamentally the trend for EURUSD should be down. And since you never know exactly where it's going to turn you need to try at each possible top (where your trading method -whatever it is- indicates of course) and let part run.
  • #1,018,389
  • Aug 12, 2015 5:17am Aug 12, 2015 5:17am
Quoting iaveight
{quote} No one in the community I am with that trades a daily chart ever risks 800 pips or even 400 pips, you adjust your lot size according to the stop loss anyway. I may trade a daily area but within that daily area I will drill it down and place my pending accordingly........
It maybe too slow cause you will get trade options/opportunites very slowly maybe once a month or twice a month , so you maybe able to Trade once a week and wait another one month to make 300-400 pips if you are lucky and everything goes right . it is really hard to trade this and you may need some XXL patient personality . İt is possible but so hard , if you sit every day in front of screen you may not be able to keep your self calm and below your account .
  • #1,018,390
  • Aug 12, 2015 5:20am Aug 12, 2015 5:20am
Bear respecting the break of 1118 might go above 1.12
Just a little push down below 1.11 could challenge the bull
You cannot learn better without losing
  • #1,018,391
  • Aug 12, 2015 5:21am Aug 12, 2015 5:21am
Lols really had a great financial month this month... 60% profit with each trade on 2-3% risk.
  • #1,018,392
  • Aug 12, 2015 5:21am Aug 12, 2015 5:21am
Btw.. EU will edge higher aim to long more from a pull back tomorrow.. would not short tonight... Looking to short scalping during london session tmr
  • #1,018,393
  • Aug 12, 2015 5:22am Aug 12, 2015 5:22am
Quoting dan2boy
Lols really had a great financial month this month... 60% profit with each trade on 2-3% risk.
Trade explorer will tell the Truth
  • #1,018,394
  • Aug 12, 2015 5:22am Aug 12, 2015 5:22am
Quoting Luther
{quote} The strong USD was hurting Chinese exports because they have a reference rate peg to the Dollar. USD is up 16% YOY. Yesterday they shot the first round in an open currency war with the US. This is a big policy shift. With the weakening Chinese economy, the 2% adjustment they made is not going to have an effect on stabilizing growth. They are going to have to weaken the Yuan more. My post from yesterday. {quote} The new Chinese policy is going to cause further EURCNY position unwinds which will push EURUSD up, and increased hot money flows...
Thanks for short explanation, I was not aware of the whole setup being busy. Managed to catch some Aussie long for + 60, but was nearly s/o ... vola was definitely crazy on Aussie this early morning in europe.
Fix up, trade sharp ...
  • #1,018,395
  • Aug 12, 2015 5:24am Aug 12, 2015 5:24am
Quoting edyraper
{quote} Trade explorer will tell the Truth
Feel free to check on my trade explorer lols
  • #1,018,396
  • Aug 12, 2015 5:25am Aug 12, 2015 5:25am
Quoting disegnosys
{quote} I use to trade like that for a few years when I had the time. Now, I don't have much time to trade, so I trade H4 and D1 TFs. Less time on charts, less trades, and less stress. Instead of making 5 to 50 pips, now can make a few 100s pips. It took sometime to switch over. Good Luck with Trades, Cheers
Thanks. I am still at the point where I enjoy it. To me it seems like you can find better deals on the lower tf charts. By this I mean that I actually do use the monthly, weekly, daily etc charts to look for places to trade and decide bias, but I limit the risk by using a 5m or 1m entry. For me the amount of stress is related to how much I have at risk. When I scalp most of the time I only make a few pips (because most of the partials that I leave trying to get a runner get stopped out) but on the other hand I don't risk many, and every once in a while I get one exactly right, which is very satisfying (who doesn't love a good bargain.)
  • #1,018,397
  • Aug 12, 2015 5:26am Aug 12, 2015 5:26am
Quoting dan2boy
{quote} Feel free to check on my trade explorer lols
you made this month 30% not 60% !
Attached Image
  • #1,018,398
  • Aug 12, 2015 5:27am Aug 12, 2015 5:27am
Quoting edyraper
{quote} It maybe too slow cause you will get trade options/opportunites very slowly maybe once a month or twice a month , so you maybe able to Trade once a week and wait another one month to make 300-400 pips if you are lucky and everything goes right . it is really hard to trade this and you may need some XXL patient personality . İt is possible but so hard , if you sit every day in front of screen you may not be able to keep your self calm and below your account .
not at all you would be surprised now many daily trades you can take and not worry about the noise inside, its not for everyone and patience is involved but it means less time at the desk watching, if you trade the 5 min you have to watch every 5 min candle open, 15 min same all the way up, the bigger the time frame means the more time on the beach or outside or with family,,,,, if daily is too big then drop to 4 hour but for anyone new to trading they should not be trading anything less than a 4 hour chart

I like trading and tend to spend more time at the desk than i have too, but the nice thing is I dont have too
  • #1,018,399
  • Aug 12, 2015 5:29am Aug 12, 2015 5:29am
Quoting edyraper
{quote} you made this month 30% not 60% ! {image}
Boss, financial month and month is different
  • #1,018,400
  • Aug 12, 2015 5:30am Aug 12, 2015 5:30am
Quoting dan2boy
{quote} Boss, financial month and month is different
okay you are right , well done .
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