I scalped for about two weeks. I was more or less succcessful at it. I just didn't like the whip. Very hard on the blood pressure at times and it seemed if you walked away from the computer for just a quick pee you could tottally get out of the flow and lose your place. Also, on the smaller timer frames technical analysis doesn't hold up as well. Even candle patterns mean next to nothing on the 1M chart. While it may go in whatever indicators direction you think it was, it may be only a small move and then go back against you significantly. I found that trading on the H1 and using the smaller time frames as entry filters has worked well. I've bee live trading a micro account that I started with $100. Lost some, won some. Now I'm doing steadily better and better as I sharpen my edge. My account is currently at $300. Not a huge deal. I'm using my own version of dragon33's money managment, where I compound my account and up my pip value every successful day, or readjust down if it goes down.

I found a trade journal with notes on why I took every trade helped me to stick to my rules, or at least identify where I fell victim to my own emotions. I've found my worst losers were always because of letting bad trades go further than my planned stop loss because I was hoping it would come back, and then would get bothered when it didn't and stubbornly hold on to it needing to be right.

Hey ThePhoenix,
I hope you don't mind the personal message! I saw a post of yours recently where you mentioned you tried scalping but it didn't work out for you that well. I have been scalping the M1 charts and I tested a strategy that netted me 250 pips the first week I tried it. However, since then I've been break even and/or negative. Much of that is due to the fact that I can't follow my own system that well. Interestingly enough, the week after I read Trading in the Zone was the week I did so well. Right now, however, I'm demoing some "bigger picture" trades on the M5 charts. I feel like I see the waves better. Are you profitable as of yet and when did you start? I just began my Forex journey this past November and I'm thoroughly convinced I can be profitable at this. I'm smart and fairly intuitive but will I ever be able to completely follow a system that works for me? I hate indicators and would prefer to act based on what I see happening with price movement, and leave my rules to the way I manage money. If you have some time and feel like sharing your experience, I would love to hear back.
Best,
Neal