Okay so ive been studying for a while now and ive meet some good people from this forum.
This is what i have learnt so far
- technical tools - stochstics, MF
- double top, head and shoulders, flag
- scalp trading - trading on the pullbacks
- observing that in january sets the tone for the year
- reading news and knowing that this can affect your decision to trade
my style is a minute to minute scalp trader - can anyone based on the above give me some tips as to how better to prepare for it? as you can see 3. is the most helpful, and 4. is the one i need to set the tone. ( eg for the year its looking volatile, sideways and bearish)
anything else i am missing out? im trading EURUSD. im also using metatrader 4. if theres anyone who can give me tips id really appreciate it. tbh im not really a technical person and im really trying my hardest to integrate what is painstaking hours of learning ( i hate learning) into practice ( scalping, which i prefer) .
anyone who can help me on this ie ( more accurate set up ie price entry and hour by hour assessment), please shoot me an email or message here or skype me. gregsie74. ill buy you a virtual coffee. thanks.
PS im aware of the babypips.com twitter which is great as i write this ( 4hr) but if anyone can help me with understanding this specifically how i can apply it to scalping id appreciate it…
EUR/USD: 4-hour
‘EUR/USD is once again consolidating on the 4-hour chart, and this time it’s hanging around a falling trendline resistance. Not only that, Stochastic is also in the overbought region! If the pair follows its pattern on the last two times that a consolidation and a Stochastic signal lined up, then we might see some partyin’ by the euro bears. A stop above 1.3200 is safe enough if you’re trading the falling trendline, but make sure you keep close tabs in case the euro bulls are hungrier than we think!’