Forex scalping in London and New york open

forex scalping consolidation and breakout

What are the steps in forex scalping that we must consider in order to trade consolidations and breakouts or plain breakouts from triangles?
1)Identify the most suitable pair
Find a pair that have built strong support or resistance levels and watch them. Remember, the stronger the support or resistance, the better the outcome. Make sure you understand this when you locate pairs to watch.
This is what we did this morning with eurjpy.We had a short signal in our smoothed main chart but we waited the breakout to happen.
[YOUTUBE]T_XHy9HcvHo[/youtube]


2)Wait For the Breakout
Finding a good pair does not mean a trade should be taken prematurely. Wait patiently for the pair to make its move. Patience Is A Traders Virtue.
3) Set a Reasonable target price
If you are going to take a trade, set an expectation of where it is going. If you dont, you wont know where to exit the trade. This can be done by calculating an average move that the pair makes or measuring the distance between support and resistance (especially when trading price patterns).
4)Allow the pair to Retest
This is the most critical step. When a pair breaks a resistance level, old resistance becomes new support. When a pair breaks a support level, old support becomes new resistance. In the majority of your trades, the pair will test the level it has broken after the first minutes. Prepare for it.
Thats what we did in gbpjpy in the DOW open when it retested a break in a trendline in our high timeframe chart.
[YOUTUBE]0TeYunPlxus[/youtube]


5)Know When Your Trade/Pattern Has Failed
When the pair attempts to retest a prior support or resistance level and it breaks back through it, this is where a pattern or breakout has failed.That is a fakey.* It is imperative you take the loss at this point. Dont gamble with your losses.
6)Be Patient
This strategy requires plenty of patience. By following these steps, you will reduce emotion and be more objective about a trade.
7)Exit at Your Target
If you are not exiting the trade with a loss, then you are in the trade. You should remain in the trade until the pair* price reaches its objective, or your trailing stop is hit or* reach your time target without hitting your target price.
Conclusion
Breakout trading welcomes volatility. The volatility experienced after a breakout is likely to generate emotion because prices are moving quickly and in a volatile fashion. Using the steps covered today will help you define a trading plan that, when executed properly, can offer great returns and manageable risk.
The three pairs we watch and their signals today
GBPUSD
http://forexraiders.com/blog/wp-cont...SD-300x187.png
EURJPY
http://forexraiders.com/blog/wp-cont...15-300x187.png
GBPJPY
http://forexraiders.com/blog/wp-cont...15-300x186.png

forex scalping from ranging to breakout
Today I have made two videos with forex scalping.
The first one is about handling ranging conditions in gbpusd signal which appeared some time after the London open.


The second one is how I take the breakout from ranging conditions close the forex scalping target and convert it in intraday trade.


Two events helped the bears like me today.
a.Fresh USD bids hit the GBP/USD pair and pushed it to a session low of 1.5434 after Fed’s George, a well known dove, sounded less dovish.
Offered below Key fib level
The spot was quickly offered to daily lows once it broke below 1.5460 (61.8% of June rally). The USD bulls made a comeback today after the spot failed to sustain above 1.55 levels. The bearish pressure on the Sterling intensified after the upside breakout from the multi week range of 1.5460-1.5690 quickly failed as the spot made its way back in the range.
The focus now shifts to the second estimate of the US Q2 GDP, which is expected to show the economy expanded 3.2%, compared to the initial reading of 2.3%.
GBP/USD Technical Levels
The pair currently trades around 1.5440. The immediate support is seen at 1.5409 (38.2% of Apr-June rally), under which the spot could drop to 1.5369 (200-DMA). On the other hand, resistance is seen at 1.5468 (100-DMA) and 1.55 levels.
b.The GBP/USD pair dropped to a fresh session low of 1.5415 after the upward revision of US Q2 GDP pushed up 2-yr treasury yield indicating a rise in the rate hike bets.
GBP/USD at lowest since July 10
The spot breached the support at 1.5424 (Aug 7 low) to trade at its lowest since July 10. The upwardly revised GDP pushed the 2-year treasury yield to a session high of 0.707%. The yield has now erased entire losses witnessed in the recent bout of risk aversion.
Moreover, short-end yields represent rate hike bets. Consequently, an uptick in the 2-yr yield is leading to broad based USD strength. Meanwhile the drop in the US weekly jobless claims further added to the bullish tone on the USD.
GBP/USD Technical Levels
The spot is hovering near 1.5415 levels. The immediate support is seen at 1.5409 (38.2% of Apr-June rally), under which the spot could drop to 1.5369 (200-DMA). On the other hand, resistance is seen at 1.5468 (100-DMA) and 1.55 levels.
The three pairs I am watching daily
gbpusd
http://forexraiders.com/blog/wp-cont...15-300x244.png

http://forexraiders.com/blog/wp-cont...-27-8-2015.png
gbpjpy


http://forexraiders.com/blog/wp-cont...15-300x168.png

http://forexraiders.com/blog/wp-cont...-27-8-2015.png
eurjpy

http://forexraiders.com/blog/wp-cont...15-300x167.png
http://forexraiders.com/blog/wp-cont...-27-8-2015.png

forex scalping-ideal time duration for a scalping trade
Fridays the trade is weird ,ranging choppy and might hav3e a lot of surprises.
The two jpy pairs we are watching were not ideally so we concentrated in pound dollar during the European session.
Pound dollar gave a short signal and we waited with patience to take a breath backwards in order to enter.
Our entry was almost perfect two pips out from the maximum breath.
The forex scalping target achieved 6 minutes after the entry which is the ideal time for the first scalping target.Five to ten minutes for the first target is the ideal time duration for a forex scalping trade.
The higher time frame saw also a broken trendline and our entry was almost in the testing level.
The trade then converted in intraday and the trailing stop start locking profit.
The momentum was extremely good and before we count thirty minutes we were counting approx 60 pips.
A get out of trade divergence appeared but we were waiting a support to form in our trigger chart order to close the trade.
Then price pierced the spine of northern lights and set course in the median trendline were our trailing stop was.
Trailing stop then hit and we finished for our trading Friday with approx 40 pips for our intraday trade.
All was recorded in the video ,have a nice weekend


The three pairs we watch every day and their signals
GBPUSD
http://forexraiders.com/blog/wp-cont...15-260x300.png
GBPJPY
http://forexraiders.com/blog/wp-cont...15-300x224.png
EURJPY
http://forexraiders.com/blog/wp-cont...15-293x300.png

best brokers for forex scalping-seven steps to forex scalping success


Which are the best brokers for forex scalping ?I will try to point to the correct direction today.There is a global law for anything:
you get what you pay
The other general principal for our accounts is:
the more capital you have the better services , the less commissions and spreads you pay.
As bullet point we can mention what we are looking for in a broker
1. Brokers must allow all trading including scalping techniques
2. Non Dealing Desk / ECN
3. Clearly regulated.
4. Offering high leverage.
5. LOW SPREAD
6. No bad reports (Such traders do not get paid, etc.).
Many people don't understand this vital difference so I will explain it as simple as I can.
Firstly, you must know that almost all of the MT4(metatrader platform) brokers are running a "bucket shop".
http://en.wikipedia.org/wiki/Bucket_shop_(stock_market)
So when you are trading with an MT4 broker, your order is not appeared in the international interbank market, but it appears in the dealing desk of your MT4 broker.
Basically you are trading either with the server, or with someone in the dealing desk of your broker.
So while in demo you might be profitable but when you deposit real money for your live account ,"mystery spikes",(or re quotes,slippage,no executions) not appearing in any other broker close your positions with loss(stop loss hunting)
So your broker is earning from the spread and from the above "unexplainable spikes and events".
An ECN broker is giving you the interbank feed as it is delivered by the ECN network and he is charging commissions for each transaction.
https://en.wikipedia.org/wiki/Electr...cation_network
So the broker earns only this commission and the feed you see is not manipulated.
If you want to see a pure feed you must pay a separate feed with monthly subscription.
The spread you will pay depends from the volatility and the pair in the specific moment.Pure demand and supply.You can see zero spread in EURUSD and some times in EURJPY.
The higher the capital you have in your live account, the lower the commissions will be.
Commissions vary from one ECN broker to another and if you are trading a lot of lots each month you can negotiate the commissions with your broker.
The lower the commissions you pay the higher the minimum of lots you are obliged to trade. e.g. Institutional accounts.
If you need any clarifications, I will be happy to answer.

http://forexraiders.com/blog/wp-cont...rk-300x156.png

so,who are your broker?

forex scalping 31 8 2015

Today the day was very slow and choppy
We took two scalping trades one in eurjpy and one in gbpusd.
EURJPY delivered slowly the scalping target of 10 pips in approx one hour ,then for the next two hours stayed almost in the same levels but presented a high probability pattern I use and name as crocodile which saw north.
While I was waiting the pattern to deploy with small stop loss a short signal in gbpusd appeared and entered a limit order in the breath of the pair.
The order triggered but things went slow for this pair too.
While I was in this pair I have closed the eurjpy trade because I saw the reversal coming ,
Finally after almost one hour and in the starting of New York gbpusd delivered the scalping target and closed everything since the choppiness and slow market tired me.
This pair also tried to reverse just after I closed the trade by sawing opposite signal and then again reversed with a final signal which produced 60 pips.
The end of the month is always full of ranging and unexpected moves and today’s chartsÂ* and trading present this in a clear way.
All of the above is written in the two hour video.


Below you can check the three pairs we watch every day with the trades on and the remarks.

EURJPY
http://forexraiders.com/blog/wp-cont...py-213x300.png
GBPUSD
http://forexraiders.com/blog/wp-cont...15-256x300.png
GBPJPY
http://forexraiders.com/blog/wp-cont...15-300x281.png

forex scalping 1 9 2015 trading with the trend
Hello,
Today forex scalping was more smoothly than yesterday.
GBPUSD and EURJPY responded quickly approx one hour after the London open and start trading south.We took short signals in both but none of them took a breath .
The GBPUSD has probed lower in trading today - moving below the low prices from July and August in the process.
Approx 80 pips for pound dollar and 95 pips for euro yen.
Waiting with patience a retracement came in pound dollar three and half hour after London open in the median line.
Then a resistance is formed and the moment a double top formed in the trigger chart I have entered a short trade with nine pips stop loss ignoring a long signal whic was counter trend in the higher time frame chart.
Forex scalping target achieved quickly in less than 15 minutes and then left the rest with trailing stop.
Knowing that at 7.30 EST the economic announcement of Canadian GDP will influence the dollar I didn't gamble the profits and close the trade at 25 plus pips even if I saw 36 in a moment.
The problem is that there have been two breaks below this area. The first failed. The ensuing correction stalled near the 200 day MA at the 1.53635 (the high stalled at 1.53685). The second probe moved to new day lows and is back up testing that break area (between 1.5329-38). If the price can not stay below, the patience of the sellers may wain and the seller could switch to buyers instead.
ISM data is due. So risk is increased. The market will be looking for clues from the data. A more bullish number and new lows can be expected. If weaker, the sellers will likely become buyers again and we should see a rotation higher in the pair.
The whole trade is written in the video from the beginning .


Here is the three pairs I watch every day with remarks on them.
gbpusd
http://forexraiders.com/blog/wp-cont...d-1-9-2015.png
eurjpy
http://forexraiders.com/blog/wp-cont...1-se9-2015.png
gbpjpy
http://forexraiders.com/blog/wp-cont...y-1-9-2015.png

As long as you are new to trading and you are learning always look at the higher time frame and take your scalps and trades to the direction they dictate.
Counter trend trades are dangerous to your account and psychology.
Don't try to catch bottoms and top of the mountains you will bankrupt your account.

Hello Traders,
Today the market was choppy and was lucking momentum.
We took two scalps.One in gbpusd during the European session approx 100 minutes after London open and one in the American session in eurjpy approx 45 minutes after DOW open.
In the first trade gbpusd gave as the most appropriate conditions since it moved in a very narrow range during Tokyo and gave us a signal after London open.
We wait with patience the retracement breath I like to call it and we entered in the trade.
The entry wasn't ideal but the pair gave us the scalping target after approx 20 minutes.Then the trailing begun and in a point we saw 25 + pips .After this we saw a support forming ,an opposite signal in the middle trigger chart and we wisely decided to take all the trailing profit and get out.As you see in the chart below we did well because the pair reversed.
We didn't touch eurjpy and gbpjpy in the European session since both of them moved in wide ranges during Tokyo. Approx 150 pips for gbpjpy 100 pips for eurjpy.
Then in the American session eurjpy broke the Tokyo range (Archimedes breakout)entered in a small retracement of 10 pips from the brake and took the forex scalping target as you see in the pictures for the two thirds of the position.
Left the rest on trailing but while the trailing stop reached the entry point eurjpy retraced and hit the stop loss.
So with these two trades we secured our primary target to remain consistent profitable one more day.
The first trade is written on video were I explain what I call Archimedes breakout (Tokyo range breakout) and the second is in the pictures below.




The eurjpy trade. The entry
http://forexraiders.com/blog/wp-cont...2-9-2015-A.png

The hit of the scalping target
http://forexraiders.com/blog/wp-cont...2-9-2015-b.png

The trailing stop is hit
http://forexraiders.com/blog/wp-cont...ade-closed.png


Our gbpusd trade
http://forexraiders.com/blog/wp-cont...d-2-9-2015.png

The gbpjpy today was the pair to avoid
http://forexraiders.com/blog/wp-cont...y-2-9-2015.png

forex scalping intraday trading 3 9 2015
The day was difficult initially because the two first trades hit stop loss.
GBPUSD and GBPJPY had volatility during the night and they didn't produced fresh signals in the London open.In addition we had pound news.
EURJPY on the contrary had a very narrow range during Tokyo and ranging for long hours.
The pair produced a fresh signal a few minutes before London open so I waited carefully for a retracement.
The retracement came and I enter the short trade.The minutes was passing and the pattern I call crocodile formed the bollingers in the trigger chart contracted and inner support and resistances formed .
The breakout was eminent and it would be a large one after so many hours of ranging.
The pair violated the resistance to the upside and due to high probability of breakout I went long to the fresh long signal loosing 5 pips in the first trade .I was taking also a counter trend trade to my higher time frame chart.Some minutes passed and the momentum wasn't there.The pair started to fall slowly ,the pair pierced the support inside the range again and decided to try for third and last time short again .The procedure of the three trades took approx one and half hour.
Placed the stop loss ten pips above and closed the platform .
I have checked again in London close to find 162 pips in my intraday trade.Finally closed 158.
Thursday have statistically very good intraday trades and they are consider from the trending days of the week.


eurjpy trigger and main chart with marked trades on them and remarks
http://forexraiders.com/blog/wp-cont...-1-300x169.png
Main chart eurjpy
http://forexraiders.com/blog/wp-cont...15-258x300.png

The other to pairs I watch daily gbpusd and gbpjpy
http://forexraiders.com/blog/wp-cont...15-275x300.png
http://forexraiders.com/blog/wp-cont...15-300x194.png

forex scalping 4 9 2015,the crocodile pays again

Hello traders,
Forex scalping didnt start well in the morning.
Pound dollar and pound yen had a party last night in the Tokyo session with no fresh signals.
Euro yen had a party last night after deploying a bear flag but had a fresh signal and a divergence pointing up.So I took the trade with the usual stop of 20 pips.
As you know in trading nothing works 100% of the time, so trade went sour and our stop loss is hit.
Since it was NFP day I knew it will produce weird and choppy trading so I closed the platform and I was looking for a chance after the release to take back what the market charged me for the morning counter trend trade.
Approx one and half hour after DOW open I have spotted a very tide range in gbpjpy with repetitive short and long signals in my main chart.
I spotted a fakey breakout upside and the moment the pair reversed and broke the opposite support I enter in the trade with tide stop loss.
I took the cream of the trade with the momentum hitting approx 50 pips took my losses back and some nice profit.
Everything is written in the video and trades are on the pictures with remarks.


Have a nice weekend.

The main chart of eurjpy
http://forexraiders.com/blog/wp-cont...y-4-9-2015.png
The trigger and main chart of gbpjpy
http://forexraiders.com/blog/wp-cont...t-4-9-2015.png
http://forexraiders.com/blog/wp-cont...y-4-9-2015.png
The main chart of gbpusd
http://forexraiders.com/blog/wp-cont...d-4-9-2015.png

forex scalping software in-dependable

forex scalping software with in-dependable feed from broker.This is the third part of seven steps in forex scalping success.forex scalping demands to know your tools of the trade.
A professional trading platform in-dependable from the broker you have your account and separate market feed ensures that, what you see in your charts is correct and precise.
The problem is that software costs and feed is in a monthly subscription basis.
That means that the above combination is not suggested for newbie traders with small accounts.
Of course that doesnt mean you cant try them in demo or trial accounts and have in your mind what is out there to help you, if you succeed in your first steps and you decide to do professional trading for a living.
A lot of software applications are available from brokerage firms and independent vendors claiming varied functions to assist traders. The deciding factor to select the right product should be based on the product functionality best fitting one trading needs. Novice traders who are entering the trading world can select software applications that have a good reputation with required basic functionality at a nominal cost, while experienced traders can explore individual products selectively to meet their more specific criteria.
Most brokerage firms today offer free or premium trading software applications to individual clients when they open a brokerage account. The bundled software applications, offering a wide variety of trade, research, and analysis functions, are used as a prominent sales-pitch to the trader client. They also boast features like in-built technical indicators, fundamental analysis numbers, integrated applications for trade automation, news, and alert features. We will examine some of the most widely used, based on features
I included in the list software for stocks also.
Sorry for my English I am trying to improve by use them daily.
See the video below

[YOUTUBE]nXjmSqZ43Gg[/youtube]
My trading room setup one main pc with two 22 screens networked with an auxiliary (clone of the main) notebook all controlled by one wired mouse and one keyboard with Synergy. Preferred platform ninjatrader connected with one of the suggested ECN brokers

forex scalping 7 9 2015
forex scalping yesterday brought very poor results in an extremely slow market.
Initially in the London open I have lost an entry to a valid signal to gbpjpy by two pips since my limit order didn't trigger and the pair produced a very nice run (....pips)
Late in the US session I gave a short order in the pair which I left it open during the Tokyo session but I have close it with +5 pips early in the morning while I saw it reversing.
gbpusd gave the signal very early in the morning so I dint touch it.
eurjpy produced one of the slowest sessions I have ever seen.
I have attempted a long 15 minutes before London close but the pair reached 9.5 pips in four hours of trading without hitting my scalping target and reversed so I closed it by loosing five pips.
Then I reverse it and left it open in the Tokyo session achieving the 10 pips target but the third part of the order stop out early in the morning.
I even forgot to open the mic while I was explaining in the video.Sorry for this.


The pairs with remarks on them
gbpusd
http://forexraiders.com/blog/wp-cont...15-300x168.png
gbpjpy
http://forexraiders.com/blog/wp-cont...15-300x187.png
eurjpy
http://forexraiders.com/blog/wp-cont...15-300x169.png

forex scalping 8 9 2015

forex scalping is not easy.
Today I felt like the man going to the casino feeding the slot machine and the time he gets disappointment and leaves his place the next guy hits the jackpot.
This thing happened in the morning with eurjpy and gbpjpy trades. The moment they reversed I was so tired to follow.They gave 100 pips plus.
In the European morning I have took a wrong short trade in gbpusd and I sweat to close it to breakeven.
Then in the afternoon I took a long signal in eurjpy waited the retracement. Enter in the trade in correct position . Then the pair three times it almost touched the first target of 10 pips with 9.5 pips and dropped.
The third time I closed it to breakeven and saved my stop loss since it dropped 40 pips entering in a range period.
So I gave up for the day at least I didn't ended red and wrote a part in the video about consistent profitability.
the Law of large number and how it impacts your trading
Before anything else, you must understand the law of large number.
what’s that?
The law of large numbers is a theorem that describes the result of performing the same experiment a large number of times. According to the law, the average of the results obtained from a large number of trials should be close to the expected value, and will tend to become closer as more trials are performed. – Probability Theory
For a trader, this means you need a large number of trades for your edge to play out.
You will not be consistently profitable every week, taking 5 trades a month.
Why?
Because according to the law of large number, results are random in the short run, but will be closer to the expected value in the long run.
Focus on whether what you are doing is right, not on the random nature of any single trade’s outcome. – Richard Dennis
What is consistency?
Since the law of large number requires a certain number of trades for your edge to play out, how does it impact your trading?
forex scalping – Trading at very high frequency, like 10,000 trades a month. You can expect to be profitable in most of the months, or even everyday like Virtu Financial.
Day trader – Trading an average of 3 – 5 times a day, you can expect to be profitable in most of the quarters.
Swing/position trader – Trading an average of 5 – 15 times a month, you can expect to be profitable in most of the years.
The more trades you put on during a shorter period of time, the faster your edge will play out.
But without an edge in the markets, the more trades you put on, leads to blowing up your account even faster.

[YOUTUBE]zoVJTRlthaU[/youtube]


The pairs I watch every day
gbpjpy
http://forexraiders.com/blog/wp-cont...gj-300x192.png

gbpusd
http://forexraiders.com/blog/wp-cont...gu-300x173.png

eurjpy
http://forexraiders.com/blog/wp-cont...py-300x168.png

forex scalping 9 9 2015

We had two successful forex scalping today in Pound dollar.
The first setup came after pound news in the morning ,industrial production.
The pair moved fast to south and we took the retracement in the borders of our Tokyo box.
The first scalping target came in three minutes which is the ideal scalping time.Trailing stop activated but unfortunately it dint lasted and hitted in less than thirty minutes,
Then the pair made another attempt to break the 50 area and we short it again.
This scalping took over one hour and we close it with just 5 plus pips. It reversed just after we close the trade.
The other two pairs we watch didn’t gave descent setups and signal in the European morning with retracements.
We managed to remain green today too and that is what matters.
Conclusion
Ideal scalping time is less than ten minutes if a pair sticks in a specific level for a period of an hour or so it will reverse.Some people call this pattern 1 2 3 reject.

[YOUTUBE]4CfMcziS09w[/youtube]

The three pairs we watch everyday and their signals today
GBPUSD with our forex scalping trades marked
http://forexraiders.com/blog/wp-cont...gu-300x186.png
gbpjpy
http://forexraiders.com/blog/wp-cont...gj-300x175.png
eurjpy
http://forexraiders.com/blog/wp-cont...ej-300x175.pngforex scalping 9 9 2015

We had two successful forex scalping today in Pound dollar.
The first setup came after pound news in the morning ,industrial production.
The pair moved fast to south and we took the retracement in the borders of our Tokyo box.
The first scalping target came in three minutes which is the ideal scalping time.Trailing stop activated but unfortunately it dint lasted and hitted in less than thirty minutes,
Then the pair made another attempt to break the 50 area and we short it again.
This scalping took over one hour and we close it with just 5 plus pips. It reversed just after we close the trade.
The other two pairs we watch didn’t gave descent setups and signal in the European morning with retracements.
We managed to remain green today too and that is what matters.
Conclusion
Ideal scalping time is less than ten minutes if a pair sticks in a specific level for a period of an hour or so it will reverse.Some people call this pattern 1 2 3 reject.

[YOUTUBE]4CfMcziS09w[/youtube]

The three pairs we watch everyday and their signals today
GBPUSD with our forex scalping trades marked
http://forexraiders.com/blog/wp-cont...gu-300x186.png
gbpjpy
http://forexraiders.com/blog/wp-cont...gj-300x175.png
eurjpy
http://forexraiders.com/blog/wp-cont...ej-300x175.png

forex scalping 10 9 2015

Scalping didn’t started well today.
I have entered in a ranging pair the eurjpy.
I had a counter trend signal ten minutes before London open wait for the retracement and entered. The trade went red from the first minutes and gave an opposite signal.I had a chance to close in breakeven but I haven;t got a new resistance or support in the trigger chart so I didn’t close.
One hour later I paid the error for 20 pips.
While I was in the eurjpy trade I took a long signal in pound dollar and sixty minutes later I got a perfect retracement were I got in long for intraday trade.
This trade hit in the final stage approx 65 pips. I close initially 2/3 of the position but while I saw how it was approaching a resistance in the higher 2 hour time frame I close it all.
Few minutes later it reversed and dropped 60 pips down,
The moral of the story today is: 1. close to breakeven when you have the chance and 2.don’t be greedy.
Another day closed green with nice profit.
The title of the video with the trades consistent profitable.

[YOUTUBE]AVORUOag31Y[/youtube]


The three pairs I watch
gbpusd
http://forexraiders.com/blog/wp-cont...gu-300x189.png
eurjpy
http://forexraiders.com/blog/wp-cont...ej-300x187.png
gbpjpy
http://forexraiders.com/blog/wp-cont...gj-300x169.png

forex scalping 11 9 2015

Scalping went well today.Initially I have started with a fresh signal in eurjpy .The signal came up some minutes before London open.
I took the retracement and scalping target in 2/3 of the position came in three minutes. Ideal forex scalping duration time.
Then the pair moved very slowly in the next hour and a half, lost my patience and close it in +3 pips for the rest of 1/3 position.
Wrong decision since the target I was aiming came in the next one hour.
The second trade I took in Pound Dollar and made more than an hour to pay.Finally we got the scalping target and we left a tiny piece to close with trailing three and half hours later.
You may find useful the below information for your trading next week.
CFTC commitment of traders released September 11, 2015:
EUR shorts 81K vs 68K shorts prior week
GBP shorts 18K vs. 11K shorts prior week
JPY shorts 7K vs 16K shorts prior week
CAD shorts 49K vs 55K shorts prior week
CHF shorts 7K vs. 8K shorts prior week
AUD shorts 53K vs 56K shorts prior week
NZD shorts 12K vs 8K shorts prior week
The data is from the close of business on September 8, 2015
EUR shorts increase by 13K
JPY shorts move closer to square and near the years smallest net position of -5.4K. JPY positions have not been net positive since Oct 16, 2012 week.
Our primary target to finish the week in green was achieved again today.
I gave the title to the video consistent profitability.


The three pairs I watch with remarks and trades on them.

GBPUSD
http://forexraiders.com/blog/wp-cont...u1-300x193.png
EURJPY
http://forexraiders.com/blog/wp-cont...j1-300x193.png
GBPJPY
http://forexraiders.com/blog/wp-cont...j1-300x175.png

Consolidation and breakout 14 9 2015
Consolidation and breakout is one of the most profitable trades you can takeВ* in any financial instrument.The problem is to find the real breakout or you will be caught in range .As I have predicted on Friday post GBPJPY would break in the next session.So with patience I was waiting for a signal in the European session today.After the fresh signal I wait for a retracement and retracement came.I entered in the most safe spot but the pair scared me initially because it continued to climb and gave opposite signal.The higher time frame chart- which carries my swing system on it-was in pivotal point.Either it would break the pivotal point and collapse or it will bounce from the pivotal point and resume the bullish trend.I was undecided what to do, close in breakeven or continue in the trade.Finally after 29 minutes gbpjpy moved fast in +12 pips and close my first scalping target.Since I was waited for a breakout I converted the trade to intraday by canceling the trailing stop ,entering a stable stop in 92 and left the trade with 1/3 of the position to see what it will bring.I have opened the platform again 30 minutes after the DOW open and the trade was in +101 pips.I decided to leave it open until London close and keep the strategy wait andВ* see.Twelve minutes after the London close the pair was still in no mans land giving me 100 pips and I closed everything for the day.
I have wrote everything to video as usual ,enjoy

The three pairs I watch every day with trades and remarks on them

GBPJPY

http://forexraiders.com/blog/wp-cont...py-300x172.png

GBPUSD

http://forexraiders.com/blog/wp-cont...15-300x193.png

EURJPY

http://forexraiders.com/blog/wp-cont...15-300x193.png

When to close forex trading positions ?
When to close forex trading positions? The most of the times I close open positions around London close.I sleep better at nights.Rarely as yesterday I had open position during the Tokyo session.In these cases I close them few minutes before Frankfurt opens.Reversals and stop hunting will follow I don't want to be in.Yesterday trading was difficult for the three pairs I watch.GBPUSD produced a nice signal with over 150 pips move south but with no retracement.EURJPY produced a long signal with retracement but took in demo only.Finally GBPJPY was ranging all day and since I was waiting for a breakout a took the retracement of a short signal which generated in DOW open.Trade went bad and lost 25 pips. Left the charts open and found a pivotal point, a third touch in the upper area of the gbpjpy range and took an intraday trade with stable stop approx 20.30 EST European time.This trade was left open during Tokyo session and produced 48 pips.We made 23 net pips for 15 of September and closed it 20 minutes before Frankfurt open.

[YOUTUBE]MtM1Tu8gtAM[/youtube]
three pairs we watch every day with remarks and trades
GBPUSD
http://forexraiders.com/blog/wp-cont...sd-300x194.png
GBPJPY
http://forexraiders.com/blog/wp-cont...py-300x192.png
EURJPY
http://forexraiders.com/blog/wp-cont...ej-300x175.png

Forex scalping techniques 16-17-18 Sept 2015
It was three difficult days.The reason was that my biological clock was upset and traded in different times than those I usually trade.

[YOUTUBE]Fsjlx-aVT64[/youtube]

The first trade I took was in 16/9/2015.I have lost the bullish breakout(sleeping) and attempted to catch a bounce in resistance in higher time frames in GBPJPY.The breakout was a valid signal with retracement offered 170 pips plus.As you remembered on 15-9-2015 I was trading in the Tokyo session.The gbpjpy train passed over me and the cost was -11 pips. Closed the platform for the rest of European session.

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Late at night in the closing of New York ,I have a short signal and I am attempting to fade the great bullish move.
First attempt 17-9-2015 till next day at 10,54 European EST time = -20 pips.
Second attempt 11,30 retracement to short signal until 13.44 =-20
Third attempt double top 30 min after DOW open till 20.55 = -20
Forth attempt same day 21.30В* till 21,38 based on divergence= -20
Total for both pairs - 91 pips

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Switching to gbpjpy short in 22.00 till 04,03 next morning . Total +139 pips
139 pips -91 loosing pips=48 pips net for the three days

http://forexraiders.com/blog/wp-cont...py-300x177.png

I didn't trade at all on Friday to relax from the stress of the previous days.Counter trend trades are very dangerous and new traders must avoid them at all costs.

Scalping journal for November 4th follows.
Today we had some activity in Tokyo session for Pound dollar and news at 11.30 were UK Services PMI (Oct) Actual: 54.9 Survey: 54.5 Prior: 53.3
One hour later I have found a retracement in pound dollar and enter a long scalping trade.

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EURJPY had an active Tokyo session with range of 58 pips so I will not touch for today.
Currently 132.43 having held the 132.25 initial support/ demand I highlighted earlier
Offers: 132.80 133.00 133.20 133.50-60 133.75-80 134.00 134.25 134.50
Bids: 132.25 132.00 131.80 131.50 131.30 131.00 130.85 130.50

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GBPJPY had a very narrow activity in Tokyo session and we are waiting a short retracement to enter in for a quick scalping in 1,5422.

http://forexraiders.com/wp-content/u...ht-288x300.png
The price of the USDCAD was rising in sympathy with the USD bid. However, there was a caveat. That was that oil prices were up 2%. Typically, the CAD rises as oil prices rise.
The current price of oil has risen more and currently trades at $47.43, up +2.77%. What has happened to the USDCAD?
Syria will play a major role in oil prices.Heads up for opportunities on this fact.
It has retraced the move higher and tests the lows for the day.
Technically, the price fell back below both the 200 hour MA (green line in the chart above) and 100 hour MA (blue line in the chart). It also fell below the broken trend line. That was enough and we have seen an accelerated fall to the 1.3070-1.3079 area. This area (yellow area in the chart above), has been an area of swing highs and swing lows going back to early October.

http://forexraiders.com/wp-content/u...ht-298x300.jpg

Here is an additional technique for scalping today one minute scalping in usdjpy and eurusd template for ninjatrader
http://forexraiders.com/wp-content/u...om-270x300.jpg
Chart Setup
Indicators: 12 exponential moving average, 26 exponential moving average, 55 simple moving average
Time frame(s): 1 min charts
Trading sessions: London session, US session
Currency pairs: Low spread (EUR/USD, USD/JPY)