I always dream of being a super scalper like you…
who are you referring to?
hey PipCounterz , why dont you start your own scalping thread ? It would be very interesting to understand another successful scalper methods.
um I don’t think I am at the level where I could be of any use to anyone else?
I might think about it - it would be nice to be able to share ideas with people. It’s taken me over 6 mths of lurking to even join this website since in real life I am a very private person. 
I’ll take the compliment though THANKS!
Thx for sharing your system and thx for showing hope for people like me who ask "Is it possible? Is there anybody successful? "
I am playing something similar and though it is not consistently successful, I am hopeful about my price action discretionary style than any indicator.
One thing I have observed that, without scaling it is not possible. I use 3 step scaling. e.g. if 3 lots is my limit, I enter 1 lot first.
With 1 lot my target is small profit/loss or out. i.e. 2-3 pips loss / 3-5 pips profit.
If price moves fast against me, i have to do 1+1.
Then with 1+1 lot my target is break even or 3-5 pips profit on avaerage.
If i have to go ahead with 1+1+1 , then My stretch target is Break even. Or small/whatever loss. mainly out as fast as possible.
On average out of 10 trades:
5 of my trades are 1 position size. 4 in profit 1 in loss.
3 are with Position size 1+1. 2 trade in profit and 1 in break even.
2 are with position size 1+1+1. 1 trade in break even/small profit and 1 in loss.
My guess is PS is the key. And yes, i scale based on Fibo-billinger S/R levels.
Again, no exact rules. more of gut feeling than anything else. I use oanda
and play eurusd and usdjpy only when spread is 1 pip around.
My observation is, in most of my trading 80-90 % trades are good. but 1 or 2 sucker trade takes it all away. Key is to identify the sucker as early as possible and not to fall in to scale the sucker.
What is your thought process to spot the sucker and take a loss early?
And If you can let me know how your position sizing(PS) works, I will be very thankful.
Thx,
Forex-caveman.
Do your big winners start out slow or fast? How about the sucker trades? How do they start? Let us know if this helped.
Hum…That’s one good angle to analyze. I will pay more attention with that view.
Typically, I add on position only when price go against me fast and reach Fibo-bollinger S/R level. If price drifts slowly, i tend to get out with loss.
the Big sucker are 1+1+1 PS. while i add the 2nd position, the price acts fast against me. But then it stalls, does not move in favor till break even to let me out. then suddenly moves against me to next S/R level where i add 3rd position.
And one mere thing…the sucker trade always begins on down trend on M5 chart. i.e at M5 trend reversal.
I use manually drawn Trend lines on M5 chart when I trade primarily on M1 chart with heiken ashi or pure candle sticks . As soon as I enter a trade, I move the counter trend line on M5 chart to “think” against my position and see if it has any weight.
But still it gets me once in a while. And 1 sucker trade is enough to level last 10 trades. 
My complete trading focus now is to identify that sucker early in the game. Without that consistency can not be established.
Thx,
Forex caveman.
Rather than let the sucker take you out, you can exit, let it run and get back in at the same or better price.
Those sucker trades that you say only happen on downtrends…dont.
They happen both ways…but right now, because of the greece debt, and the fundamental picture on the EURO, and recent dollar strength, down has been the overpowering direction.
Its wise to know the fundamental picture before attempting to scale into something you know you shouldnt.
If the price is ranging on the daily, its safer to scale both sides.
But when the fundamental picture, and daily candles confirm a strong direction. (as has been the case with the euro for the past 2 1/2 weeks)
Then you gotta be more cautious.
When you look at the daily and 4 hour of Euro, it clearly wanted to move down all last week and this week.
So why then would you risk scaling into that?? :eek:
All I know is…these past two weeks,
I scaled heavily into tops, and then instead of exiting fast, I rode them down big time. 
Because it seemed every temporary top, had a nice big crash afterwards.
Do you look at the weekly and monthly charts?
baby Pipper and Pip siphon:
Thx for your attention. Your replies gave me some directions to think and analyze.
Pip Siphon, you are right that the sucker comes in both direction. Here are some details on how i trade and my analysis.
I use 3 sub accounts. Scalp/swing/long. I do this to find out my edge. to see what type of trader i am naturally.
scalp : TP 3/5 pips. SL 2/3. Scaling up to 3 steps. fixed size.
swing : TP 10-20 pips SL 20/40 pips. Scaling up to in 3 steps. fixed size.
Long : TP 40-50 pips SL 100 pips. No scaling. only 1 position.
On long and swing, my stop loss are bore based on failure of logic than fixed pips. but i give them that much width.
Whichever sub account i pick, i stay with that style on that day. I also pick a color Red/Green/yellow on currency pairs. I absolutely stay away from all newspaper, TV, media, news etc.(it is very difficult than staying engage with media 
). Clear mind. Just price action. But i watch D1/H3/H1 charts too, while i play using M5 and M1. The longer range charts i use to pick a color. though i stay aware of news timings to keep aware of volatility.
For last 2-3 weeks, the Long account (40-50 pips TP and 100 pips SL) is doing amazing well. No scaling used. only 1 position. This is like 80% win ratio or better. Though my bets are extremely small, as i am trying to establish consistency in whatever style works with me.
Last 3 weeks , I also played scalp and swing and scalp is certainly in bad shape . Swing is ok.
On the other hand, before 3 weeks, my scalp and swing was doing better, i did not tried long before 3 weeks.
What i have noticed while discussing with you that, Not a single style can be winner at every time. I have to pick up the applicable style depending on the long term trend.
but before that nice consistency should be master for individual style (when the time is right for that style.)
the overall consistency should be a result of picking right color, picking right style for that color and ability to execute good in every style of trading.
I have to put the blocks together to get real consistent.
Also Pip Siphon, You mentioned that your father also trades. Some of your success also may be credited to your father as you might have got the essentials right from childhood. I have read that to be a successful consistent trader, one has to go through tremendous pain, frustration etc.Very few are there who has trading in the family and they get the essentials (may be unknowingly) in early years and face lesser pain.
The pain that it gives, I can only compare to a a passionate love affair in teens.
It completely takes control of your body, mind, life and everything. The whole world drops.it becomes passion. It is giving so much pain, but we still willing to go through it, as we know the reward is so blissful, once we cross the thin line that separate the success and failure. It is so close and still illusive. It is so illusive that we question even if it is possible.
The dream of becoming a successful Trader. Ha!
-Forex Caveman.
Glad I could be of service.
The pain that it gives, I can only compare to a a passionate love affair in teens.
It completely takes control of your body, mind, life and everything. The whole world drops.it becomes passion. It is giving so much pain, but we still willing to go through it, as we know the reward is so blissful, once we cross the thin line that separate the success and failure. It is so close and still illusive. It is so illusive that we question even if it is possible.
You need to trade smaller lots:rolleyes:
Nope…That’s not my problem. Actually when i said 1 lot, it is not 1 standard lot.
In fact it is micro lot or even smaller. My total loss or profit in $ is less than 20$ in real money.
I look at success/failure as daily % change in account and Pips scored or lost.
Actual money loss is lesser problem. lack of consistency is major problem.
I am sure, when the stakes will be higher psychological issues will kick in. But that is not happening till I feel consistent and confident to raise risk factor.
So $ is not my immediate issue.
-Forex Caveman.
Wow.
Dunno if stops and trends are your problem.
It may just be emotion.
If you’re going to have this poetic of a reaction, you may need to rethink your strategy.
If a trade goes bad, treat it like a girlfriend that fooled around, forget it, and kick it to the curb.
If it goes as planned, buy it flowers, give it a hello kiss, then ride it until it tuckers out.
You’re a caveman. What are you doing letting emotion control you?
Thx. That is what i keep on telling myself. I am caveman.
The frustration is not due to any single trade losss or so.
My story is 10 good trades and 1 or 2 bad takes away all. I don’t loose money as such. but do loose all most all the profit.
My aim is to make small but consistent pips or % growth of account.
i don;t have any system or strategy or indicator as to follow 100%.
I just play based on price action. So to debug such issue it is a long process.
Thx for your comforting words.
-Forex Caveman.
This just tells me you’re risking too much per trade. Are you using a 1:1 RR ratio? If small consistent gains are what you look at, I would leave your stops at the same level of pips as the take profit. Not more. Otherwise you’re losing more than you’re winning.
Understandably you may have more winners than losers, but if your 10 winners make you 100 pips, and you lose 90pips on two traders, you’ve made 10 pips in 12 trades overall. What’s the point of it?
Rework the stops and take profits.
I’ll give you some tips :
You need to stick to your strategy and use proper Sl depending on the currency (Eg. GB/US minimum 35pips, eur : 25 to 30pips SL, GB/JPY 50pips min…) For the limit, you need to have the condition to enter the trade and conditions to choose the proper SL and limit. The market is not there to give you money, so dont assume that you put 35 pips SL and the market gives you 70pips. When I have a very strong condition (my strategy for SL), I use 70pips SL and I cut my lots in half, 3 lots instead of 6 lots. I create different conditions for entry, exit and limit. To do that, I need to read from weekly to 15m. I never use a time frame smaller than 15m. I open 6 charts for each currency and I use e signal. Expensive, but its worth the money. Someday when you trade more than 1 stds you have to deal with the bigger enemy = yourself. I use compound strategy; for every 3 wins, I add 1 more lot, and I only need 1 to 2 trades a week ( I trade 6 std lots) or the average of 4 trades a month. My secret is: I don’t trade alone, and I stick to my trading plan which gives me 90% successful rate. Since the beginning of the year 2010 till now its %100. If you have any more question I ll do my best to help.
Forex is my full time job and my conclusion is : MM is the most important.
FXswing:
thx for sharing your views.
What do you mean, you don’t trade alone?
4 trades/month as full time forex trader is excellent self control.
thx,
-Forex Caveman,
If you had 9 wins and still lose money then I am pretty sure you are using HOPE indicator. For ex : the average SL for EUR is 25 pips. You cannot lose unless you used the wrong SL or you moved it. He he you must think I read your mind.