Scalping strategy to finish the year strong

@Sammy.fx
SL is at break even on EJ. 0.1Lot.
I’ll stop out even or ride it for a while. TP set for 142.600. There’s obviously a big resistance long before that, so I’ll make sure I at least make something.

Yeah the 141.870 resistance is a little scary

@Sammy.fx
If we get close to that I’ll lock in some pips.

Well, its no longer an issue. Add 1 pip profit.

Not the best day so far but we learn more each day.

@Sammy.fx
Not much going to work until that last big USD news in 20 minutes. I’ll be working by then.

Once again, the early morning 1M charts were very profitable. Saved my day.

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Hey TV traders, how fast are you getting into the trade once you get the signal? What’s your system… for the system?? :rofl:

News was positive for dollar.

Big red candle on the 5m!

(post withdrawn by author, will be automatically deleted in 24 hours unless flagged)

I would like to take this time to formally apologize to my forex account for the last 2 hours.

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I didn’t follow the rules. I didn’t wait for the setups. I went back to some support and resistance trading. And I just had my second loss in a row

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This is a big problem for many traders. At least congratulate yourself for noting it !

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Hey @AmericanTrader do you ever jump into a trade late? Like maybe you couldn’t get to your account immediately and you’re a candle or two late.

@samewise
Yes. Missing the start of a London session a couple of times. They both worked out just fine when I got in a half hour later.

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AT - Can I just clarify what PSAR settings you’re using for the 1 min scalp?

You say on your picture 0.08/0.5 but trading view has 3 settings - start (default 0.02), increment (default 0.02) and max value (default 0.2)

What do you suggest? Sorry for asking so many questions I just want to try this as well.

Thank you

@Neddyboy50
I don’t know about the first setting on the Tradingview PSAR. Perhaps another forum member does?

On Eur/Jpy I am using 0.05 / 0.05.
On Chf/Jpy I am using 0.08 / 0.07.
On Usd/Jpy I am using 0.05 / 0.07

You can play around with it and see what settings suit your own trading style though.

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PSAR settings (Standard) is MinAF 0.02 and MaxAF 0.2…

@Neddyboy50 I also would suggest experimenting (on a Demo!!) with some other settings and time frames…

To smooth the PSAR I use MinAF 0.009 / MaxAF 0.03 up to 0.06… (See Below)

Hope this helps…

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I see I missed another $400 on Eur/Jpy while at the dentist this morning.

Missed another $200+ on Chf/Jpy

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