This is more or less an online journal for my trades because I am banned from posting in the Journal section since I am a 'Commercial Member', hopefully the mods would eventually heed my plea and revert my membership.
The title of the thread summarizes the method I now use for my trading...it wasn't easy moving from swing trading to scalping but I eventually did after I was convinced by the relatively lower drawdown and potential for compounding.
Rules:
1) I would endeavor to post my charts and why I took the trades.
2) I would not be posting a TE since I trade with Dukascopy and it's one of the brokers whose platform is not supported by FF's Explorer app.
3) I trade between 0600hrs - 1300hrs (WAT) every day.
4) I strictly trade only EURUSD.
5) I trade naked i.e. no indicators save for a 25EMA.
6) My method is a variation of Bob Volman's books, to honour the author's copyright I would not be explaining his methods here, if interested you can go ahead and get a hard copy from Amazon (somehow he has been able to prevent these masterpieces from going 'soft' and I commend him for that).
7) I would be making more rules as time goes by.
Although this is supposedly a scalping method I hardly take more than a few trades per day due to strictly following opportunities that satisfy my conditions save for occasions when the trade signals go on a rampage during my trading period. To be honest trading this way takes a whole lot of patience but eventually pays off in the long run.
The title of the thread summarizes the method I now use for my trading...it wasn't easy moving from swing trading to scalping but I eventually did after I was convinced by the relatively lower drawdown and potential for compounding.
Rules:
1) I would endeavor to post my charts and why I took the trades.
2) I would not be posting a TE since I trade with Dukascopy and it's one of the brokers whose platform is not supported by FF's Explorer app.
3) I trade between 0600hrs - 1300hrs (WAT) every day.
4) I strictly trade only EURUSD.
5) I trade naked i.e. no indicators save for a 25EMA.
6) My method is a variation of Bob Volman's books, to honour the author's copyright I would not be explaining his methods here, if interested you can go ahead and get a hard copy from Amazon (somehow he has been able to prevent these masterpieces from going 'soft' and I commend him for that).
7) I would be making more rules as time goes by.
Although this is supposedly a scalping method I hardly take more than a few trades per day due to strictly following opportunities that satisfy my conditions save for occasions when the trade signals go on a rampage during my trading period. To be honest trading this way takes a whole lot of patience but eventually pays off in the long run.
Less is more...
