7.7% this morning, I woke up 35Ms ago, done for the day, 2 trades, 2 wins, scalped, sealed, delivered.
Good luck today.
Good job.
And please figure out your enter position, exit method, long or short, picture is better.
Or it’s nothing could help people.
I think this is big dream and will can achieved if scalping trader they always able making profit in their trades, and might not all trader suitable with scalping because this is also sometime making confused for new trader and need fast connection internet also fast execution
I don’t think so, I believe new trader should learn and practice scalping, swing, position and trend following strategy, then pick up the most proper one.
I also a newbie, but I try everything about forex, and benefit more.
Day 3 - 3 win 2 loss
Audusd long -10pips, manual out
Audusd short +2pips, manual out
Audusd long +8pips, manual out, big position size
Gbpusd short -9pips, manual out, big position size
Gbpusd long +13pips, takeprofit out, big position size
Good income, but total violate discipline.
1, force enter bad enter chance
2, force big position size at bad enter chance
Never order big size at bad chance
EA week 1 - 2 win 0 loss
Usdjpy long +2 pips, BE out
Nzdusd short +1 pips, BE out
NU should be profit +80 pips, but not quit then touch BE out, only get 1pips.
This trade need be improved, +80pips profit turn into 1pip, exit should be reconsidered.
But i don’t know how now.
Or wait for more watching.
Day 4 - 4 win 1 loss
Audusd long +11pips, trail stop out
Day bias long, seek good enter chance.
Momentum is good.
Gbpusd long +1 pip, manual out
violate discipline, bias is down
Bias based on h4, wrong judge
Audusd long again +2 pips, manual out
out reason: lose up momentum
Usdcad long -16 pips, stoploss out
Usdcad short +10 pips, take profit out, big position size
Violate discipline: don’t check big news, may make big loss, but luckly usdcad short very much.
Day 5 - 5 win 2 loss 1 running
Usdcad long +1 pip, trail stop out, if no trail, will touch tp10pips
usdcad short +1 pip, trail stop out, if no trail, will touch tp 30pips
Nzdusd long -8 pips, manual out
Nzdusd short +8 pips, take profit out, big position size
Audusd short +8 pips, manual out
Eurusd long -8 pips, manual out
Eurusd short +5 pips, manual out big position size
Audusd long, stil running, stoploss 10pips
Week Summary 1
First week journey is freedom trading, and profit with luck.
Scalping trading:
EA trading:
From next week, should be more professional.
The belows should be executed:
- Week Trade Plan before each monday
Week trade plan including:
a, how to pick trade currencys
b, how to setup perfect critical point, up or down
c, stoploss,takeprofit,trail stop, be
d, position size management
e, check big news daily - Daily pips report and weekly summary
- Run EA without interfere, except position size management, observe for 1 year
good trades and I am really interested to see you reaching million.
Thanks. The goal is really hard.
Hope every traders can be sucessful.
1). How to pick trading currency pair?
The most strongest/weakest currency pair.
Action: Usdcad short,
Audusd and Nzdusd show long but reach key resistance
2). Check Day/H4/H1 bias and Draw S&R line
3). How to setup perfect critical point?
Place order at the critical point,
if market go against you for 5-10pips, you want to place another opposite order comfortable
Action: setup opposite order depend on correlation condition
4). Stoploss is 10-20pips, but -5 pips is enough to quit a order
5). Takeprofit is 10-50 pips
6). BE when profit with 10-30pips
7). Trail stop is 10-20 pips
8). Position size depend on the perfect setup or normal setup
9). Big News need be checked dailly
10). Daily pips report and weekly summary
11). Run EA without interfere, except position size management, observe for 1 year
Let’s start new week game
I ever reading certain scalping tader they can become winner n demo contest, I see on history account profit target only around ten or five teen pips each trades, but accumulation profit often occur and only have small loss, scalping also will become great strategy if trader able trade with high accurate anlaysis
Thanks Confucius!
Often violate discipline by emotion, loss 50 more% account.
Lose the dream to milllion.
If i can obey my routine trading discipline, profit is possible.
Now i share you my routine discipline, maybe could help you if you have good emotion control.
This is big dreamm from scalping become millionaire, but still possible in forex if any trader alredy able making profit and always have good patience in trading because making millionaire with scalping also required long time not only for a week if amount capital also only in small investment
The best way to overcome emotions is to pick a system and stick rigidly to it.
I use the 3 ducks system a lot. If you jump in early to try and make more pips you run the risk of the trade going against you. Much better to ignore that little voice in your head and follow the system
Hi,
Scalping is just a way of trading and there are lot more than one strategies, so I would like to believe that you have one. EA cannot be a strategy. Only if you have created a good working strategy than you can create an EA with your strategy parameters in it.
So, I am not sure if you really know what you are talking about.
Happy Trading
My scalping strategy combine many methods:
one MA and SRI with S&R, order when trend clear at D1/H1/M5 TF and space enough and good momentum.
It work only following the rule, but emotion issue caused violate the rule.
I think out a solution to solve my emotion proplem:
I need a reviewer when I want to place any orders, my wife will be my reviewer and boss,
only she agree my order, then I place the order.
My EA is my other strategy, work well.
Eurgbp long +200pips more now, still running.
Maybe rayner’s strategy is fit for me: long term trend following.
Always pick most strongest or weakest pairs.
Check month, week, day TF, order at h4 bias.
big stoploss.