Quote:
Originally Posted by lavaman
I entered an order for this one several hours ago, then came home from a concert and turned on my platform to see the last few minutes of the trade giving me 50 pips, nice! Two successful scalp line trades this week. I didn't see anything about it in Nick B's ebook, but I also decided I better give a 5-7 pip buffer to weed out some of the bounces, working well so far.
Does anyone know of another pair that is somewhat unrelated to the GBP/JPY (so they don't end up with similar scalp lines) that would work well with this method. I'm just curious. Does the GBP/JPY have a better track record with these types of trades?
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One of the guys over at Nick's site, Metalhawk, has been demoing scalp lines on USD/CAD. He just started doing it on a live account and is using an 8 pip buffer and a 35 pip SL/TP.
The overall trend and big moves on USD/CAD are inversely correlated to GBP/JPY, but if you look closely the scalp lines are completely different.
I've never traded it personally, but Metalhawk is a
very conservative trader and if he says it works I trust him.