Scalping strategy to finish the year strong

Yea, weeks is tough!

Oh that’s smart.

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Hey, as far as I’m concerned its an open thread now and is here for the benefit of all traders who want to share ideas and thoughts.

So don’t ever worry about “intruding”.

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Hi, what are now final settings for mt5, seen that has changing all the time and the best TF?
Asking for trading FTMO.

Hi Deamon!

I hope all is well with you and you win the FTMO challenge!

Sorry about the many changes. I change what I do all the time.

However, I can say no change to the settings is necessary. I find it helpful to add a channel indicator to assist with TP areas. But I can also tell you what I’ve been doing lately and am very happy with (which could be used for any timeframe).

This is my current chart setup.
Some of the indicators I got from:

They have Mt4 and Mt5 indicators.

Trading generally: Enter on green/red cross. Close when price goes near channel outer edges. I suggest closing trades in profit before high impact news releases.

My alternative setup is similar

Trading: Enter Long when green MAs cross over Red. Generally close near Cap Channel edges.

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Today’s winners:

I went long on GBP/NZD this morning and took 12 pips. Re-entered long for a multiple day trade in hopes it hits at least 2.15 but TP is at 2.165 for now.

At just before 3am EST I entered another long on the pullback of GBP/USD and closed it for 30 pips. Re-entered after noon pullback. TP set for 1.295 for now.

JPY pairs still scare me on D1 timeframes. Staying away for now.

M1 chart of last 3 hours or so using Hodrick - Prescott MAs on Usd/Jpy

M5

Practicing that M1 setup.

Its working well so far.

Wow.

This is super easy racking up the pips.

10-0 with the M1. I just closed when they went into profit, rather than letting them play out.
I think with more practice I can let the trades run from one channel edge to the other. At 2 mini lots that’s about $10 - $15 a trade. Average trade time 5 to 10 minutes.

Just had a trade go 57 minutes.

Still, its a win.

Would have been a VERY good win had I let it run.

Hi, have mean mt5 mobile setup, have full time job, like i think moust traders have, maybe some kids are on computer and watching charts all day​:face_with_hand_over_mouth::wink::man_shrugging:

Kids are on phones, now, not computers, I think … :neutral_face:

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I don’t know how you are going to be able to work with timeframes shorter than H4 while working full time.

Is that going to accommodate the FTMO restrictions?

Forgive me, I 've got no experience with FTMO.:face_with_open_eyes_and_hand_over_mouth:

Another good day of trading. *Edit (59) pips added to the profit line.

1.7% increase.

5% total for the month so far.

I’m doing a much better job of balancing having 2-4 long term trades open and allowing me to play with some scalping and practice at the same time, rather than just focusing on managing D1 open trades.

Dont worry, still have time to watch the charts few times.

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Excellent.

I didn’t mean to doubt you.

Since I use the laptop when at home, I have it set to send me notifications from some indicators. Which helps some.

Are you able to add mql4 indicators from the market to mt5 on your phone?

Closed out long Gbp/Nzd as it gave me a lot of pips and I want to practice my scalping tomorrow.

Closed out Gbp/Usd long for the weekend.
Perfect.

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