Scalping strategy to finish the year strong

@AlgoCats

Sorry Algo. I’m driving and working for the next few hours.

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Dont worry brother!!

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I look for exits when the 6 starts to cross opposite the trend, OR, sometimes I’ll exit when the PSAR shifts. I didn’t know how to use the PSAR for a long time, so I discounted it, but now its a big influence in my entries and exits, knowing there will be a clear re-entry signal for me. Hope this helps some.

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Riding Eur/Jpy up.

Win: 19 pips

Cad/Jpy looks promising for 500 pips over the next 2 - 3 months.

The weekly chart shows the pullback could be over.

Made 160 pips on two sells on the 5 min EUR/USD pair. I would have stayed in longer but I had to get the kids from school. This isn’t a normal day for me to be fair.

Had your system running on MT4 and another trial system running on TradingView at the same time as confluence.

@rocktrucker
That’s what I’m talking about!

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I did enter a small trade, One mini lot, on cad/jpy. We will see if I have the patience to let it run for weeks. It’s been sitting at a minus 14 to - 19 pips all day so far.

That happened to me on the eur/usd about 10 days, had a really decent sell position on the Friday, that at one point was 70 pips up, I was kind of thinking I would keep it for a time like now, because long term I am bullish on the DXY, however the FED have been giving mixed messages this year which has dented it’s strength.

Anyway it reversed and then it went against me by 30 pips and I was lucky to get out with minimal profits, total screw up. :rofl:

@rocktrucker
I guess I’ll be happy if I end up with a profit. It’s hard to imagine me holding on anything more than a couple of days so this is a huge test for me. If it goes well, once I’m up 100 pips I will move my stop loss to break even. Even that’s not a lot of room for a trade like this but that’s going to be the limit of my patience.

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I am doing some course on scalping at the moment from ICT in between trading and it all starts with the much higher time frames, daily and even weekly, to see where to eventually place pivot points on the 15 minute charts and getting to know the currency you are dealing with really well and where it is in the market cycle. etc, etc.

I found it here BullTrading SwingHigh/SwingLow — GustavoRubi tarafından gösterge — TradingView

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awesome man! I got to get that MT4 up and running already!

Not sure if you checked out his Youtube mentorship series from last year.

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Update on my long-term trades.
Cad/Jpy down 34 pips.
Usd/Jpy down 40 pips.

Got to weather the storm for a while.

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Cad/Jpy got stopped out with 83 pip loss this morning.

I did not give SL enough room.

I was hoping neither Cad nor Jpy would be affected as much by economic news on the majors.

1W trade on Usd/Jpy stopped out last night for 76 pip loss.

Eur/Jpy buy- set sl to break even.

Eur/Usd: Win 8 pips.
Eur/Jpy" Win 15 pips.

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Eur/Jpy sell: Win 4 pips.

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