30 Days to Profitable EUR/USD Scalping.... -
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thread: 30 Days to Profitable EUR/USD Scalping....

  1. #21
    Volatility was normal this day, it felt different than yesterday. I tried to trade only in the BB extremes with no transactions in the midst... no man's land. Difficult, I do then I start becoming breakouts or breakthroughs from the BB to another level.

    Hoping to trade with the traders, buying lower, selling higher. I managed to take my final entry 30 pips, to place me up about 12 pips for the day. Eleven transactions, worst loser 5.8 pips..still a little high, but I am exercising control and getting out, unlike yesterday. I need to scalp, scalp, cut loser, continue scalping. Some of the scalping action from earlier this day below...

  2. #22
    It is debilitating, to post your mistakes and talk about them. I can only hope I can look back at this journal and laugh. It has to be instructive however, examine and to acknowledge the terrible customs. So when am I going to flip it around?

    A short February yielded 5.96%, at this time in March...I am down 32.63 percent. I have dropped the 5.96percent and $267.00 more. Account balance is $732.46. I told me a drawdown of $250, when I started, or 25% are the case scenario according to my own methods. I am at that point.

    It is not the money I take care of, but the Results. After I put those dollars in the account, I did not think of them as cash but more of an instrument to make money. I'm looking forward to closing this diary. The question is Will my trading improve after that?

  3. #23
    It's an FOMC day, I started around 11:30am EST.. Price action was quite volatile I was amazed. Three transactions, three losses, one bigger than should be for my approaches in present (losses should not exceed - 5 pips).

    My first trade was a lengthy, that fell apart quickly, broke BB and psych degree support. I dropped 6 pips although I needed to hold it. I sensed the market as feeble. As we approached BB again, only I went short. I can't really fault myself. Itappears to be the way, and's within the method. It does not stop and goes up. . .that's the mistake. I allow the reduction visit 18 pips.

    Then of course, I get long since the market is so powerful. Five pips dropped close to the top. Roughly one hour, three transactions down 29 pips.

    The first two transactions, I believe were well over the normal decision making of my new procedures, but the losses will need to be kept at 5 pips. I want to give up my perceptions of what should happen. Then I would have taken a short close to the top... probably for 2.5 pips roughly. So, theoretically, I would be down 7.5 pips or in this point. . .instead of 29!
    The first price movement, following the very first trade was so fast... I was awestruck.

  4. #24
    It's doubtful that I will have the account positive at the end of the 30 days. The post will be edited by me as. Many method lack of discipline and changes. It has returned me to Forex at a style. (I had been trading sporadically before, skipped days and such.)

    The Bollinger Bands as support and resistance idea came from a man named Pip-Siphon on another forum. I've tweaked some of his job to align with my beliefs (using pivots). You can google him. I don't believe direct hyperlinks to forums is enabled.

    I will expand in my methods using some of his thoughts later on, should they turn out profitable.

    It will be interesting for all of us soon, as we should have a CFTC announcement on the planned rule changes within a week I envision. (10-1 leverage, etc.) That may change things for me personally as well. I need about 25-1 I figure... to make it rewarding. I personally may skip to futures. . .as I have.

  5. #25
    (should be noted Day 25)

    I have added some 200 period Bollinger Bands, combined with Pivots, and psych amounts to use as support and resistance. I exchanged from 12:30pm to 2:30pm EST.. . Just 3 trades. A bit over 5 pips net profit.

  6. #26
    I exchanged on Friday afternoons from 12:30 pm-2:15 pm EST.
    Four tradesdown less than two pips. Mainly looking for assistance and resistance, made two purchases around 1.3750.

  7. #27
    I exchanged out of 12:30pm-3:15pm EST.. I wanted to target the slower price action. Launched with 4 losing transactions , back and forth... nothing large. My trade, at one point was at the money nearly 10 pips. The price action was back and forth as you can see below. I believed there could be a breakdown instead of accepting any profit and being down perhaps 5 pips over the afternoon, I am down 22 pips. They pushed it higher, I don't want any losses because the preceding Wednesday's astrophe, so I insured. Average loser today is roughly 4 pips, unfortunately there were 5. How can the price action on the 1 min TF be so misleading that I lose 5 trades in a row? Frued.

  8. #28
    Some quit hunting at about EST before some European news caused me to take the loss because it had not come down. It then traded lower, and there was an opportunity about 45 min later to make some pips. At another morning (U.S. session), it's in a new high...

    Quite fruing, with a big hit on the account. Current standings as of today, overall down about 17%, at $827 equilibrium.

    Doubtful that I'll live until the title of the thread in the original 30 day target... 30 Days to Profitable EUR/USD Scalping.

    I am going to the shore, I have done enough harm for 2 days.

    Some ideas about trading times...
    My scalping seems to perform better in the day (U.S. sessions). I can hit and run, although the quick mornings are hard to read in the afternoons that are slower. The problem is I feel guilty cause I miss these and half of the trading day. . .looking in charts in hindsight, there are moves that are big. However, are they without getting blown up tradeable?
    I'll have a look at my spreadsheets and stats, though I know already they will be biased because I have traded mostly afternoons until lately.

    However, for today, enough Forex.... It is 70 degrees F and bright. I live in Florida. I'm going to enjoy the shore.

  9. #29
    I lost about 35 pips in some challenging price action from 9:00am-1:00pm EST.. The trend was down throughout the entire European semester and also for some reason decided to reverse throughout the U.S. session.

    There has been a specific short of this EUR/USD in 1.3575 that nagged me. It had been in the cash initially, then out, then back in, then out. I could have taken approximately 6 pips at two distinct times, I believed we were at a bear flag pattern. I had been waiting for the trend to rescue me. I shut it in a loss and it drops right back to my own entry. So. . .revenge trading I went brief again, because I had been so sure that I was correct... a larger lot size, 3 minis. It never came back so that I held it into the semester that was Asian. As soon as I came home from work, it was still out of this cash regarding 25 pips.

  10. #30
    I read everything that I could find oncliqforexthis week-end, about statistical arbitrage, triangular arbitrage, and short time frame scalp systems.

    It doesn't seem that there are really no arb chances if you're running manually. You need an EA with computational speed and power. Should you go that path supposedly there are several correlation arb chances.

    I really did change my displays a bit, I would like a more systematic view of things, instead of simply sitting and scalping price action by feel and pivot stage loions. I adopted a setup.

    Https://www.cliqforex.com/trading-sy...ade-shock.html

    I don't take every sign, but I really do use it as a general template to search for POSSIBLE entries. I consider where price is in relation to pivot points and psych amounts.

    I'm using RSI(21), Total Stochastic(5,3,3) and SMA 8,20,and 50 on the 1 second interval. Like I stated previously, I don't take every sign. . .though I really do use it to keep me on the ideal side of this market. The stoch cross is beneficial in determining where an entry MIGHT be decent.
    I'm looking for short-term scalps 5-6 minute trade span maximum. I had a framework to keep me focused when we're between such and pivots.

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