All trades closed.
Very happy this week!
Have a great weekend all and remember to take a day or 2 off from trading now and then so it doesn’t feel like work and keeping you looking at screens all day. The next trend is coming soon enough and history says there will be at least 4 to 5 hundred pips waiting for us to plunder next week… Double that for those of us beginning to look at other pairs for good setups.
What sort of percentage are you making per week. To me this strategy looks like it could make an easy 6-8 percent a week if you follow the rules and apply a bit of price action judgement to it as well. Am i being naive thinking this?! I’m trying it in a demo account and doing well
Good morning traders!!! Have a nice Sunday everybody!
I am trying to master this wonderful Scalping Strategy but I am having difficulties with the Stop Loss and Take Profit Strategy. I was aiming at 10 pips per trade but if I put a lower trailing SL (8pips), I got stopped very early. And how do I let it ride for extra pips? Do you open many trades during a wave? Sorry for the newbies questions, but I just started trading and I really like the strategy and the group here 
I have an example below:
There are 2 ways to do stop loss as I understand it. I may be wrong here so other please feel free to chip in if so.
One way is to use the PSAR settings of:
Start - 0.02
Increment - 0.008
Max value - 0.07
And then use the PSAR as your stop.
Or put the stop 1 or 2 pips below the lower green line for a buy or above the green line for a sell.
Risk 1 percent so scale lot size accordingly and set TP to 1:1.2 or 1:1.
What I’ve been doing is risking 1 percent of capital with stop somewhere between psar and lower or upper channel. Then when it goes up by about 0.75 percent moving the stop to breakeven and letting it ride as long as it looks like I’m getting the right movement.
Trailing stop is a good idea though from the start. Then when it’s up by 0.5 percent you’ll not lose more than 0.5 percent etc etc.
It’s a great strategy and i want to take this opportunity to thank the OP for it again. It suits my style so well and I’m looking forward to taking it on a real account and making money.
I don’t see any high impact news for tomorrow. Low to medium impact depending on which site you go to.
Total 70 pips
@AmericanTrader, Looking good, you might want to have a look at the SSL Indicator.
SSL Indicator Trading Strategy
Will give you a channel overlay and make your chart a bit clearer.
Another great morning of trading.
80 pips for now. Maybe check back in for NY.
With your 1-minute euro yen do you wait for the yellow line to cross both greens or just the top or bottom
Hi Neddyboy50.
Using PSAR and Level 2 Trading indicator on MT4 with confirmation from We Trade Live Entry/Exit Oscillator. Although I still am looking for a reason I shouldn’t just use the PSAR alone. I see 8 good wins and 2 tiny losses if I had. I estimate 100+ pips even with the tiny losses I would have had if I was still actively trading today.
**I did make more adjustments to my settings over the weekend. This PSAR and EMAs suits my style of trading better. I don’t think I can improve them any more for how I like to trade.
Tuesday is typically a good trading day. We have a few early impact news releases tomorrow and could get some good price movement. Today, I had to rely on the 1M for some other pairs to make it a more profitable day. Although Eur/Usd did have an early trend run that would have met my daily profit goals.
happens to me all the time!
Nice! Wasn’t able to trade. Missed some good ones it seems.
