Yeah Im back now…
I waited over a month for my laptop.
Got it back a week ago, and it worked for 2 days!! then died. :mad:
Now it wont turn on…lol
Anyway…I got fed up and bought a nice new one yesterday
So Im back to trading now. Gonna take a while to get back into the swing, if you know what I mean. A month break is kinda long.
The longest Ive ever taken so far.
Anyway…
I’ll start posting again after tonights session.
I wont be trading quite as much or as long, since Im working on a website for a buddy, and I havent really been watching the action recently so, I kinda dont wanna overtrade at first.
But I’ll still post what I do trade.
Bumping this thread because a) the charts are immense(ly busy) and b) you’re mad for trading so much for so little - but it’s great to see and clearly works for you.
Hi everyone, Just saw this post, and thought it was a great on about scalping on OANDA. I used to have an account with oanda, and had scalped with it for awhile. I stopped because it was getting way too stressful at times, and OANDA is seriously the best for Scalping. I think I have read every post in this thread but if I’m repeating I’m sorry.
So basically I wanted to add that while I did almost everything similar to PIP SIPHON, I had also developed a habit of putting stop loss right at cost the second I see a profit. Since I traded about the same time as PIP SIPHON, the market wasn’t quick enough for it to stop out many a times. I would typically close at cost about 30% of the time but it ensured me as much as I can against trades that go against me. If the trade does close at cost, then I simply wait within a minute to 5 minutes to enter the trade at a even better price according to the market again.
I stopped trading like this because I started to see the benefit of intra-day trading which I was developing back then and did well on that as well. As far as the scalping with OANDA, I quit after several months of intense trading and “cashed out” positively several times the initial “bet”.
Although I stopped with scalping with OANDA, the recent “inactivity” of the major pairs of the market to the month/season of the year makes me think if scalping during months like this would be a good idea as a “seasonal” thing.
Anyway, That is what I wanted to say. Good luck for all who tries this. I’ve had success but my mind and body told me that I was being too stressed out…
I just wanted to see if anyone is using this method at the moment, and had any more tips?
I am currently using the following settings:
VT Trader 2
EUR/USD - 1 min chart
4 x 300 period Fibbollinger Bands
Volume
MACD
I was wondering if there are any other indicators that people are using? Are there any key features that anyone can help me out with.
I tried trading the USD/JPY, but found that its very active during the Asian session (obviously). EUR/USD and GBP/USD are good (although GBP/USD has got a huge pip spread with VT Trader).
Looking forward to hearing from anyone who is still using the Steroid Scalping technique.
Other indicators? I’ve found the best indicator thus far is the tick data. It’s simpler than you might think to notice when the buyers outnumber the sellers in per-trade volume as well as quantity.
Open up an account with a broker that gives fractional pips (i don’t recommend IBFX, their tick data sucks), the best one that i’ve found is Zecco Forex’s platform. For their tick data ONLY. You can see every single pulse the market makes, second by second.
Forget macd, adx, rsi, and all of that mumbo jumbo. The market talks with ticks. If you have some patience you’ll start to understand it’s language.
On a side note, i’ve found that fibs, price memory, moving averages, and pivot points are helpful.
Imagine the fibs, mas, pps, and price memory, are the destination and the ticks are the footsteps.
First, I’d like to say that I just came upon this thread and think I’ve found my perfect trading system (though it may not really be a system haha)
I’ve seen throughout this thread the mention of ‘ticks’ and seeing it second by second. I have a demo account currently as I’m just starting out with Alpari-UK; using the MT4 platform. Is there tick (data I guess) available to see ‘second by second’? How would I get to it?
I’ve been watching 1min and 5min charts so I see how scalping would come in nicely but I also see where the tick would be important.
I stopped posting to the thread, because my laptop died at first, then when I got the new one two weeks later, it wasnt quite as powerful, so using photoshop for image editing my positions, to make it easier for everyone to see (red, green, cyan dots) became tedious. Frequent crashes, hangs, etc.
Since my screen resolution is pretty large.
And since I wasnt really sure how interested people were in seeing my trades,
I just stopped posting them. Because the editing became too much.
And thats where I stand.
But Im still here on the forums.
Good to see you still around. Your system still intrigues me, even seeing how many trades you were taking a day was a ‘doozy’ for lack of better words.
Do you still trade the same way? How’s it been fairing?
Yeah, I still trade the same way.
Still doing well…
My daily average is up to about 1.35% a day.
Which is great because my true goal is only about 0.50% a day.
So Im meeting my expectations.
Ive cut back on how many trades I do a day though, and how long I trade for.
But other than that, everythings still the same.
When I first started this method, about 2 years ago I would trade for between 5-8 hours a day, and do over 300 trades a day.
Now Im down to about an hour and a half, and about 15 trades.
Still averaging the same return, so it seems that overtrading wasnt really worth the time and effort.
But still do considerably more trades than your average trader.
Now all I need to do is stop taking money out of my account
But I cant, since I earn my living from my account.
Which has put a damper on my growth factor.
If I had just kept my job, and hadnt touched any money in my account since I started, I would have over $1,000,000 by now. But I also would have a job that I hate, and wouldn’t be able to do as I please.
So its a tradeoff.
Yeah, Ive adjusted my trade size to be a little larger than before.
But not by much.
Mostly I think, Ive just gotten better at trading.
Whereas before I was overtrading every little move, now Im better at seeing when a move will give me more pips, or not.
So instead of multiple entries taking 1-2 pips, some trades I just leave in because I can see that theyll give me 6-8 pips.
i was just wondering if you also go but the name Magellan? This guy is also a scalper and seems to have a style exactly like yours. 2-3 pips tp and the same sl. It seems he/she makes 55000% percent a month! Of late he/she starts with 20k trades it to 50k at the end of the day, pulls out his profit and starts the next day with 20k again.
Seems to have the same style, and use the same charts … maybe its the same person?
No, I dont go by two names here.
Is this a guy on the BabyPips forum??
My average return is only about 1.3% a day…
On my $70,000 account thats only about $700 a day.
Then I pull out what I make for the week, and start fresh.
Leaving a little extra in to build my account.
So nowhere near the $30K a day like this Magellan you speak of.
Id be interested in a link to a thread, or posts where Magellen has posted.
Maybe I can learn a thing a two.
i am new to forex and i am interested in forex scalping, Can any one help me out? what indicaters are best and which time frame and which time of the day should i trade?
