Here’s a good recap
Welcome! Let us know how it goes!
Hi Niekie01,
Yes, still valid.
Like all strategies, it takes practice though.
I will always wish you the best of luck!
I like to change things up all the time too.
I was hoping my open trades would get into profit before the month is out, but they keep going up one day and down the next.
So when these finally close, I’ll look for opportunities on the D1 charts, but consider a lot of scalping because its so annoying waiting days and weeks for trades to play out.
When I start scalping I’ll go back to watching one pair and just wait for the signals.
It’s tough. Doesn’t match my trading personality!
That’s a good point about watching one pair for scalping. I was just pondering this myself. I’m going to leave aside the 1 minute charts and try the 5 minute chart, still focusing on GBP/USD. I think this should work better with my schedule as I can keep an eye on it for the entire NY session and enter fewer and better opportunities that I can let run all day if needed if the 5 minute chart decides to trend strongly - like today!
ahh daily doesn’t suit my personity either ! I do love the concept of just checking charts once a day though. I can see myself trading a daily account once I get a trading rythym and profit scalping each day. I’m getting a lot more practice, time and experience trading the lower time frames.
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I like that too.
M5 is still my comfort zone and back when we started this forum we’d sit and watch the Eur/Usd M5 and just wait for the signals together on the London Session.
It was a lot of fun.
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You’re right.
I feel like I can get out of practice with the D1 charts. I need to save room to trade the M5/M1 a couple of days a week or I end up just waiting for weeks to earn what I could have had in hours.
I still want to have my D1s earning “passively”, but I need to be able to place larger lot sizes on them in order to earn a living on just those alone.
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GBP/USD paying off well this morning.
Scalping on the H1 was the key for me today.
You can see the cross and the MACD style indicator showed a crystal clear signal near the bottom of the channel. I’m already out and calling it a good day.
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I traded the GBP/USD too this morning! M5 for me. I’m experiementing with heikin ashi candles to help me stay in the trend longer. Rode it up about 50 pips on my 100K prop firm challenge, lot size 1 profit = $494. I got in slightly early and put stop loss below EMA 200 and the recent low wicks so it stayed in play. I could have held it slightly longer until the first bearish candle.
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Yes this is exactly my goal! I want to be able to earn “passively” on the daily charts while also trading M5 daily, and M1 again too. All a work in progress. One thing at a time.
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Nice!
It just feels good.
Great run up!
Just curious - when you trade the 1H charts - do you scan multiple charts looking for the best entry to scalp for the day?
I’m not quite sure how to trade the 1hr time frame as there are less opportunities and when I select a chart, the opportunity maybe happened a couple hours ago, or the day before.
I usually scan, but since I am still mad at JPY pairs and I have a trade that’s been open for weeks on E/U, I only look at G/U.
Its always going up or down 
If I had to wait for the perfect entry on every trade, it would be when I get the cross signal to go long when price is at the bottom of the VHP or to go short when at the top of the VHP on H1.
Maybe some people are disciplined enough to do it, but I’m not.
I wish I was.
Ah yes I can see there was a nice cross signal at the bottom of the VHP channel in your 1 hr chart of the GBP/USD on Thursday!
Which indicator is the little yellow bombs - do you find that one useful or does it repaint too much?
The bombs do repaint. I think the cross in a good area of the channel is a much better signal. That and the MACD style indicator I’m loving.
I’m not at home to check on the name of the bomb indicator and I just know it’s something like Top Bottom. Sometime when I want an H1 to run for a long time I may use it
Btw, I made my money this morning on the gbp/USD long again.
Ahh I didn’t get out of bed for my 5:30am PST alarm so I missed it!! I was so annoyed lol. I need to commit regularly to the 5am mornings or I miss too many of the opportunities for the day. 5am is a constant battle.
The good news is it’s going better because I’m getting on top of my 3 year old (almost 4)'s sleep schedule. She was starting to stay up between 12am to 1am after napping at daycare and they are unable to support stopping the nap, so I’ve been picking her up at noon to prevent the nap. She is now getting on a normal sleep schedule, and I’ve almost reached her target schedule of 9pm to 7am, give or take half hour in each direction. So I’m slowly adjusting too and am more able to get up at 5am!
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