took a long scalp in the Gj for a +20, looks as if the bottom could be forming here, starting to get long
DECEMBER 9TH’S GRAND TOTAL: +55 PIPS
11 DAY GRAND TOTAL: +1,781 PIPS
P1PTRADER
took 2 trades in the GJ, both short after the spike up. I exited both at the same price making it hard to see both green circles on the chart. i took a +21 +10 on those trades.
DECEMBER 9TH’S GRAND TOTAL: +86 PIPS
11 DAY GRAND TOTAL: +1,812 PIPS
P1PTRADER
took 2 trades on the long side after the good size pullback in the GJ, +16 +20
DECEMBER 9TH’S GRAND TOTAL: +122 PIPS
11 DAY GRAND TOTAL: +1,848 PIPS
P1PTRADER
took another short scalp in GJ for a +14.
DECEMBER 9TH’S GRAND TOTAL: +136 PIPS
11 DAY GRAND TOTAL: +1,862 PIPS
P1PTRADER
took a short scalp in the GJ, sorry the delay…took a +20
DECEMBER 9TH’S GRAND TOTAL: +156 PIPS
11 DAY GRAND TOTAL: +1,882 PIPS
P1PTRADER
took two trades in the EU today also, took a +60 on just one trade…i am underwater from the first trade, down about 50 pips. i have a TP set in for a breakeven trade.
done trading for the day.
DECEMBER 9TH’S GRAND TOTAL: +216 PIPS
11 DAY GRAND TOTAL: +1,942 PIPS
P1PTRADER
good morning everyone, took my first trade in the GJ for a +15. GJ is in a tight range here, be cautiuos for a break out.
DECEMBER 10TH’S GRAND TOTAL: +15 PIPS
12 DAY GRAND TOTAL: +1,957 PIPS
P1PTRADER
took 16 more trades in the GJ in both directions. I was away from my trading office. just going to post a Gj 5 min chart with my trades on it.
+0
+16
+10
+20
+20
+20
+20
+20
+20
+22
+20
+12
+21
+20
+15
+14
for a total of +270 pips
DECEMBER 10TH’S GRAND TOTAL: +285 PIPS
12 DAY GRAND TOTAL: +2,227 PIPS
P1PTRADER
good morning everyone, late morning for me had to run some errands. just took my first trade in GJ short for a +20
DECEMBER 11TH’S GRAND TOTAL: +20 PIPS
13 DAY GRAND TOTAL: +2,247 PIPS
P1PTRAD3R
took my 2nd trade in the GJ, short for a +18
DECEMBER 11TH’S GRAND TOTAL: +38 PIPS
13 DAY GRAND TOTAL: +2,265 PIPS
P1PTRAD3R
took a long scalp in the GJ right off of the midpoint. Took a +21 on the trade.
DECEMBER 11TH’S GRAND TOTAL: +59 PIPS
13 DAY GRAND TOTAL: +2,286 PIPS
P1PTRAD3R
took 2 more trades in the GJ, slow day today for me trading…+10 +15
DECEMBER 11TH’S GRAND TOTAL: +84 PIPS
13 DAY GRAND TOTAL: +2,311 PIPS
P1PTRAD3R
morning everyone, interesting news this morning on the bailout today…consumer sentiment out at 9:55 am est…i will not take a trade till that news comes out.
[B]P1PTRAD3R[/B]
took 2 trades in the GJ on the short side for +20 +20.
DECEMBER 12TH’S GRAND TOTAL: +40 PIPS
14 DAY GRAND TOTAL: +2,351 PIPS
P1PTRAD3R
took a long scalp in the GJ for a +18
DECEMBER 12TH’S GRAND TOTAL: +58 PIPS
14 DAY GRAND TOTAL: +2,369 PIPS
P1PTRAD3R
what a great thread thanks P1PTRAD3R for taking the time 
I am new to forex trading, made my first ever demo trade yesterday and today, up 45 pips so far…hehe. I have a few questions on your techniques and if you would recommend someone like me that is so green trying to scalp the market.
-
When you draw out your trendlines what chart time frame do you use, 1 hr, 4 hr, daily, weekly.
-
You said you don’t use indicators for your positions was wondering how you judge if the market is over or under sold. I am currently using two indicators MACD cross over and P SAR on a 5 minute chart and have had some good results catching a move early. One thing I have noticed in regard to oversold overbought pressure is if you have consecutive longer candles in the same direction (bulllish or bearish) it seems there is a reversal in the near future (not a major trend reversal but just a reversal for a shorter period like a few hours), is this a way to gauge if the bulls or bears are exhausted and to expect the other side to start gaining ground?
-
Could you explain your risk management techniques. You said you have a 7-10% drawdown does that mean you risk 7-10 percent of your total account size on each trade? And using your 30k lot size for a $30,000 total account size does that mean each pip is worth $3. If so then if you are risking 10% on a trade ($3000) you will get out of the trade if the market moves against you 100 pips, is that right? Do you use a 2:1 risk ratio on each trade, so if you are willing to lose 100 pips, then you see the potential to make 200 pips on the winning side?
Sorry for all the questions, if you could answer any of them it would be much appreciated.
thanks
took 2 more short trades in the GJ, for +22 +20
DECEMBER 12TH’S GRAND TOTAL: +100 PIPS
14 DAY GRAND TOTAL: +2,411 PIPS
P1PTRAD3R
took 2 more long trades in the GJ for +20 +20 near minor support on the 1 min chart.
DECEMBER 12TH’S GRAND TOTAL: +140 PIPS
14 DAY GRAND TOTAL: +2,451 PIPS
P1PTRAD3R
Hi P1PTRAD3R,
I have read your topic and I really am impressed, I have just 3 questions:
-
You set the Take Profit when you open the trade. or you decide it and close the trade when you feel comfortable.
-
If you set the TP when you open the trade, how you decide it ?
-
I use Oanda too, is there an option where you can set your Stop Loss at 10% of the account, or you decide yourself when to manually close your trades ?
Keep up the good work! 
Thrasher,
I’m glad to see you are interested in the thread feel free to ask any questions you want.
-
I have a 3 monitor set up so I use trendlines on all of the time frames. Many times I don’t actually put them all in I just eyeball it.
-
To help judge when the market is overbough or oversold I really just use heikin-ashi candles when you watch them you can start to see when price slows down and jump in. A large part of it is just feel and experience the more you watch the tape the better feel you will get.
-
You have half of the money management right, your $3 a pip scenario with a 30,000 account is correct, but I risk 1000 pips not 100 ($3x1000 pips=$3000 loss). I guess my risk reward is technically risking 1000 pips to make 20 pips, but as you can see that’s not exactly what I’m doing. I’m trying to make 100 trades at 20 pips before I ever take a 1000 pips loss. Now the important thing to remember is that a 1000 pip loss is in all of my positons combined. So if I get in 1 trade and it goes against me 100 pips and I add and get into a second positon I will close both positions at the same time when my first positions reaches down 550 pips and my second positions is down 450 pips because I will be down a total of 1000 pips. If i was only in the first position i wouldn’t get out until the single position was down 1000 pips. I hope that clairfies any confusion you have about my money management. I actually think that if you are a new trader trying out this strategy you should only trade half your account size. So if you had a $30,000 account I would only trade $1.50 a pip to learn with. A 10% loss is tough to deal with if you are an inexperienced trader. Even with $1.50 and 150 pips in profit you can make $300 a day.
Best of luck to you and if you have any questions feel free to ask.
[B]P1PTRAD3R[/B]