Steroid Scalping

[۞PIP-SIPHON۞]

Hey...
Im a new member, and figured Id share with members how I trade, just for fun.
Some might think Im crazy.....
But this is the only style of trading that fills my bank account, consistently, and daily. With barely any volatility in my equity graph.
I only trade the quiet hours of the market.
But make up to 200 trades in 4 hours.
Overtrading??
I say......maximizing.

Please....new traders......DONT TRY TRADE LIKE THIS.....YOU WILL LOSE YOUR ACCOUNT FAST!!!
Start slow first. The market is a harsh beast.

Anyway....
Green is long, red is short, tourqouis is took some units off the table. I painted those on the chart afterwards for better visuals, but the actual trades can be seen on the oanda chart.

I find constantly being in the market, makes me feel it better.
I think my proof is the fact that with scalping, the spread is already hugely against me, and Im paying it up to 400 times a day. If I can profit in those adverse conditions, I must be doing something right!

[kerati01]

Hello PIP-SIPHON;

I try to learn scalping which way I found porfitble by myself. Could you explain your system alittle more? I found your system is interesting. And it is suitable for me :P

200 trades in 4 hour, make addiction of forex

Thank you

[۞PIP-SIPHON۞]

Hey,

Yeah scalping is the only way I can make money....for some strange reason.
But I dont really have a system per se.
Ive been trading so long now, that its mostly second nature.
I just use the 300Fibo bollinger bands do determine entry points.
And grab 1-2 pips, usually. Or 3-5 if its a 'good run' lol.
I watch the "tape" with my futures broker to get a feel for the market.
IMO- scalping is 90% feel/intuition.
Most might laugh at that....but its my experience.
And.....
If the price doesnt do what I want within 30 seconds. Im out.

I just worked out my spread cost for the last 2 days!!
I made $1865 , and paid $1154 in spread!! lol
Which works out to be like 61% of my profit, paid to the man.
But Im ok with it. As long as I make money, spread is just the cost of business.
I also like the fact that I made 389Pips last night, when the market was only in a 28 pip range. Talk about extraction.

[kimchikim]

hey pip siphon!

which broker do you use and what is their spread?

thanks!

[۞PIP-SIPHON۞]

Kimchikim,

I use Oanda. And their spread is around 1.5 average.
It goes as low as 0.9 though, during normal hours.
But since I ONLY trade during quiet times, its around 1.5 - 1.7 usually
If I traded busy times it wouldn't be such a dent in my earnings..what with 0.9spread.
But Id probably lose alot more trades too, with the volatility.

Thats another thing I cant stress enough.
If youre gonna try scalping, do yourself a favour, and scalp during quiet periods.

[kimchikim]

thanks pip siphon!

what time do you refer to as the quiet hours?

[k7420]

Hi pip siphone,

I would like to know which indicators are you using and what are their value? I would appreciate if you share your indicators...

[۞PIP-SIPHON۞]

k7420,

I use bollinger bands.
300 period.
deviation, 1, 2, 3, 4.
To give me my "levels"
These are the areas I watch, and you can see where I traded on these levels in the chart.
But my main tools are trendlines, and S&R
Also volume.
And when theres confluence between the bollinger and Trendlines/S&R, with a nice volume spike...I put on heavier trades.
Kinda like card counting in blackjack. When the decks hot, you bet bigger.
Same with this.
I play small until I have a nice confluence point, (which takes some practice to spot) then put on a bigger trade, or scale into it near the top/bottom.
You can see this on my chart below, on the 7th "Long" trade.

Kimchikim,

I trade during the asian session. 7-10pm Pacific time. West coast.
About 4 hours before london session.

[۞PIP-SIPHON۞]

Extracted close to 70 pips tonight.....in a small triangle range on the 1minute/5 minute, after an earlier move down.
Was playing the fibo range on the 5minute.

Could only trade for an hour tonight, but made my 1.5% quota so Im happy.

Heres my trades for tonight.....

[۞PIP-SIPHON۞]

Just so you can get an idea, of how many trades I make in a day.
This here was one day back in december.


This was the most trades Ive done in a day.
Not an impressive return for the amount of trades, but I like slow and consistent gains....so Im happy....and it suits me.
To be honest.....I like working hard for my money.