Scalping strategy to finish the year strong

theRedHarry · January 5, 2023, 6:26am

Good morning to all, (8h30 in SA at the moment)

All the best for today. May it be a better day in the markets than yesterday.

Good Luck Traders.

AnitaRob · January 5, 2023, 7:19am

Morning all.

I’m also in South Africa. Really like the positive comments on this forum.

I’m going to be honest. I still haven’t traded with the strategy as perhaps call it a fear from having lost lots of money in the past , I’m still reading the comments and back testing. This forum, however, is giving me the confidence to take the leap as they say. Lots of positivity and help here that it’s brilliant to see, and the results some of you are getting are awesome.

I need to make sure I’ve got all the settings correct as per the 1st post from @AmericanTrader and go for it starting small. Thanks everyone

AmericanTrader · January 5, 2023, 8:09am

My opinion. Price is going to either go up or down.

Vaczak · January 5, 2023, 8:10am

Changing sl to break even too early ruined my 10 pip profit. Still lot to learn.

Vaczak · January 5, 2023, 8:12am

I think we should wait until some trend appears, this strategy is best for trending market.

AmericanTrader · January 5, 2023, 9:23am

GBP economic moderate news in 7 minutes.

AmericanTrader · January 5, 2023, 9:41am

High impact news in 20 minuets. Then again in 3 hours and 20 minutes. Then again in 5 hours and 20 minutes.

After that. Smooth sailing.

Vaczak · January 5, 2023, 9:45am

Where do you see high impact news in 20 minutes? I can’t find it.

AmericanTrader · January 5, 2023, 9:50am

https://www.babypips.com/economic-calendar?week=2023-W01

inno256 · January 5, 2023, 10:00am

the news is now on then after wait for the highest impact of USA news later as seen by red mark

Vaczak · January 5, 2023, 10:01am

There is none high impact at the moment, thats why I asked

AmericanTrader · January 5, 2023, 10:05am

The 10am at GMMT-5 USD news is the biggie.

inno256 · January 5, 2023, 10:09am

this man is the CAT fish of the day
😵‍💫😵‍💫:exploding_head:

AmericanTrader · January 5, 2023, 10:09am

Painful waiting.

I think I’ll check the charts in 5 hours.

AmericanTrader · January 5, 2023, 10:17am

You were right, Vaczak. I rechecked the time. That was at 2 GMT-5.
But the USD high impact is definitely coming at10 GMT-5.

myFXbook calendar is set to my time zone but the babypips one that I just recently started looking at is not.

theRedHarry · January 5, 2023, 10:27am

@AmericanTrader
You can set the BP Calendar according to your zone aswell.

AmericanTrader · January 5, 2023, 10:29am

Ok. this is odd.

Babypips economic canendar has the USD high impact at 8:15 and 8:30 GMT-5,
myFXbook has them at Medium impact with the second on 9:45.

AmericanTrader · January 5, 2023, 10:30am

Thanks @theRedHarry.

All fixed just a few minutes ago.

inno256 · January 5, 2023, 10:50am

@AmericanTrader are you really going to take trades with your orders in the chart with usd news coming at 10pm

otherwise what limits and sl with TP are you targeting

AmericanTrader · January 5, 2023, 10:54am

No. I am not.

I am not confident about the market today and will likely not even get in today.
My hope is that this long trend of ranging means the market is building momentum for a strong trend, maybe later today, or tomorrow.