Scalping strategy to finish the year strong

With both of you @AmericanTrader @samewise talking through your thought process, that really helping my confidence in placing a trade.

Excellent.

psychology is the part that no strategy can teach.
I had to go through all the pains just like everyone else in order to get better at that part.

Its not a nice pain :grimacing:

1 Like

Silver USD is setting up nicely on the H1. on trend too !!! I need to add the HE indicator and look for the VHF and HE cross over to confirm entry.

1 Like

3-1 today. First loss. Couldn’t adjust my SL during a mini-spike on U/J late last night. That was $1.45 I had to recover in the next 2 minutes :smile:

Edit: 4:1

Took the HA change and double top for a sell

Possible M5 scalps watch:

U/J, Chf/J, C/J

E/D currently selling on HA change

1 Like

Gotta run for the day.

I decided to work today.

Happy trading everyone!

1 Like

Going to work made me miss another batch of money makers :stuck_out_tongue_closed_eyes:

1 Like

EURUSD M5 Scalp setting up too

1 Like

Oh man, you still have snow !

1 Like

After another unsuccessful day, I’m coming to the conclusion that I’m pretty bad at this. I’ll regroup tomorrow and think about what I do next but my ability to read the charts and indicators is poor to say the least.

Maybe just do the highest probability signals?

The ones where the channel is sloping upward and you look for Buys only and only looking for Sells when the channel is sloping down? You can always go to M1 time frame to provide more signals.

All the other ways I trade with the setup are more for advanced trading. I know it makes it hard because of having to wait for those perfect signals on M5 or higher TFs. But that may be just the experience needed to be a more successful trader.

Patience is such a precious quality in trading.

I think you are spot on, I’m actually going to trade less and wait for the correct signals. I’ll stick to 1hr time frames and allow trades to take days rather than mins or hours. Get my mind and patience right and see some profit before i tackle smaller time frames.

1 Like

Added another win on a U/J long. It may go to the top of the channel, but I’m out for tonight.

1 Like

You will definitely get to where you want to be as a trader. Hopefully we can even find some good perfect signals on D1 soon. None of us can put a big lot size on them since I know we need to still be able to trade and gain experience at least a few times a week. So we have to have some margin remaining available to continue trading.

But by just enduring 1 Daily chart trade and letting it run for weeks is an experience that you want to have so you can dream of a day when you can put a full lot or multiple lots on one in the future.

Just look at today’s incredible, simple, crossovers.

We have traders that chat daily about which way a pair is going today. Which way it will go tomorrow.

Well, like most days, it went up. Then it went down. Then it went up. Then it went down.

The days I can stay home and take advantage of simply watching the VHP signal line crossing the HA or the BB Stops - are good days.

Channel top reached

I rode it back down.

LOVE big spikes!

Double Top?