I decided to close out my chf/nok for 100 Pips profit. Yesterday’s pull back and deciding to place another entry is what made it all work.
So, what happened then? did you gain something you expected?
how was the market validity on this pair?
Hi.
I expect I could have held on and probably gotten 200 or more Pips. But I decided I wanted a pay day after waiting several days, and I decided that I will probably just have trades open on one pair at a time for daily charts.
I think it will be easier for me to manage open trades on one pair while still doing the daily scalping and knowing that I could get into a situation where I’m managing a scalping trade for hours or days at the same time.
That’s a ton of trades. Are you trading these on 1min and 5min and setting TPs and SLs for each. Seems like trying to move quickly when the market moves would be hard. Or are you just closing trades at that point?
Hi, yes I was trading this morning. I closed out an 80 pip win around 8:00 a.m. eastern. I still have my Cad/Nok buy trades open too. Those are trades that could remain open for weeks yet so it doesn’t matter at all what happens during any one day. Those trades I am cost averaging and as soon as it looks like we are at the bottom of the pullback I’ll be adding positions.
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Hi American Trader
Very interested in your M5 scalping system here. Can definately see opportunities, some very profitable.
Are you still using the same basic settings as your opening post? 6 close, 14 close, 32 high and 32 low?.
I’m mostly interested in quick scalping at this stage, so any new advice or settings will be greatly appreciated.
Thanks!
I’m back after a stressful house move and business restructure. What have I missed over the last few months? Any updates to the system?
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Welcome back
I hate moving!
Hope the restructure wasn’t too painful.
No change to the Channel scalping system (although I personally am doing cost averaging entries and added the 200 and 500 EMAs).
I’ve been primarily focused on the King of Forex scalping method along with some channel and some micro lot trading on D1 charts (with one eye peeking for Octopus Nest.
Still making money every trading day and enjoying it.
The thread seems to be winding down. Maybe because I am not posting my daily profits.
But I do try to respond to posts.
My daily chart trade is getting close to the point where I’ll start adding more positions:
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Morning @AmericanTrader,
I first saw this post back in Dec 22 and thought it seemed interesting!
I’ve had a bit of time away from trading but now full steam ahead.
I’m curious to know, how had your strategy changed since you first started trading it last year?
I know you said originally EUR/USD only.
Is this still the case? Has timeframes changed at all or any settings?
I’m keen to try this strategy and make some real money 
Scott
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It’s been nothing but stress. I’ve definitely let this go to much and forgot where I was up to!
Hoping to be back with it though soon.
Let’s vow to keep the thread going as it was very helpful in its prime
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It is a good group of traders we have here. Especially now that you are back and the restructuring and moving stuff is behind you.
Hello Scott.
Good to see you here.
Some people have tweaked the channel strategy a bit. I am liking adding the 200 and 500 EMA to all of my strategies. I do think you could trade any pair if you wanted to use the longer time frames such as hourly to daily. I just used very small entry sizes when doing that.
Other than that, you’re right. Full steam ahead!
Backtesting your strategy for a while has given me results of 55% win rate at 3:1 RRR which is brilliant.
What i’ve struggled with over the year while creating my own strategies is that despite coming up with something that is profitable over say the last 3 months, it eventually stops working well and becomes a losing strategy. I guess this is because the market is always changing.
I’m curious to know, how are you finding your win rate currently?
Do I remember seeing you it was around 80% back in December?
Good morning scott.
My win rate is higher than 80% since I started using smaller lot size entries and using cost averaging approach so that I continue to add entries until it’s a win. I find it works either way. It’s only my preference to try and manage the trades until they are winners. I don’t know that that makes me any more money than just doing it the traditional way with one higher lot size entry and a smaller win rate.
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Hope everyone has had a great day of trading.
I am in a KoF style trade on Eur/Usd that needs to get back to the 200 EMA\on the 5M chart for a nice profit.
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I am still baffled by the point of KoF when you could have made over 100pips by shorting the Eur/Usd this afternoon (UK time) - even more if you added to a winning trade. I must be missing something it seems you are in an 80pip hole wishing it would turn? 
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all my own instincts are always that anything that hinges on the phrase “and a smaller win-rate” isn’t the greatest idea - even if it sometimes makes more money!!
i did add to it as it dropped - but not nearly as much as i should have done (“he said with hindsight”!) 
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Good work on your trade, Johnny!
Different styles for different traders.
Who knows how many entries I’ll end up having before I close out. All I know is it has a high probability that I will make money.
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