Glad to see you be oK. Hope’s you all keep a postin’
Any big changes to your strategy? Still got the fibbollinger bands?
Easy choice,
at the end of the day, we only need $ to fulfill our needs, any surplus when you die is just inefficient in terms of time/work/dollars/life.
I have been trying a similar strategy to this, and loving it!
although i did go long on the yen when it hit rock bottom this morning, and then sold about 30 or so pips later, which was abnormal, but i enjoyed deviating from my “Steriod Scalping” as ive adapted your name for this strategy.
Consider me learning to fish! Thanks so much PIP-SIPHON۞
Taylor, what exactly are you using to make it work still?
4 x Bollinger Bands @ Fib multipliers, period 200…
2 x Bollinger Bands @ 2, 3 multipliers, period 20…
Support/Resistance
etc. etc.
??
support/resistance, and studying the 15, 10, 5, and 1 minute candles, looking for some good sets of candles, and then going in with the idea of getting out after a few pips, and doing alot of them,
im still on a demo, averaging 0.7%, but im even trading small for a demo account.
but i just love the concept, although the ethics are questionable, i dont care. compared to the big institutions, we only need to ‘scalp’ a lil bit off to make us happy. and i can do this while i am still attending university.
btw. im a noob.
No havent really changed anything…
Still use the fibobollinger bands
Theyre my staple. 
I guess you could say, Im blind without em. lol
I mean…Id still be able to trade without em but they give me a level of comfort, and a baseline for price levels I guess.
Indication of dynamic supports and resistances.
-for instance i just woke up, and entered the usd/jpy at 85.61, and got out at 85.76 about 50 seconds later, +15 pips, good start to the day. 
hello PIP-SIPHON,
i am new to forex and this forum also. i really need help bcz i have lost my total saving in forex without even basic knowledge of forex, at that time i even dont knew what is indicators and news releases etc, now i want to get knowledge and i am interested in scalping, i really like ur trading style, i am trying to scalpe with MACD, and RSI with standered settings on 1 min chart and 5 min chart. i set TP 3.3 pips and SL 10 pips, i am doing good with this system on demo, but i am affraid of risk reward ratio, but cant bcz i dont have any proper indicator to know support and resistance levels.
if some body can introduce me a good forex working system, i would be v thankful to him.
thanks for ur patience and help in Advance.
Hey Guy,
So basically anything I say here is just my opinion, so take it with a grain of salt.
But IMO MACD and RSI are pretty much worthless, when it comes to scalping.
Scalping is more about anticipating market moves, as opposed to jumping in on them late.
Lagging indicators will always get you in too late.
They may work from time to time, but in the long run, they’ll lose.
And as for trading systems that work.
Its not about what system you use. Its how you use it and react.
Two people trading the same system will always have differing results.
Even a winning system can become a losing one, depending on whos trading it.
Trading is more about mindset. If you trade with fear, you’ll lose.
If you trade by constantly dwelling on how much youve already lost, youll continue to lose more.
Thats been my experience.
I was totally bummed about losing $18000 my first year trading forex, and by constantly thinking about it and beating myself up about it, I would just continue to lose more, because Id be primarily trading with fear. I lost another couple thousand before I realized this.
I then turned it around by setting achievable goals.
BUT…Not long term goals. Like make “x” amount a month/year, or x pips a day etc…
Just a daily goal. Something within reach to me…
0.5% on the account a day, and each day became a brand new day to try to reach that goal.
Ever since then, Ive been consistently profitable.
I dont think about tomorrow, or next week.
I cant even tell you what price the EURO was at last week, or even yesterday for that matter.
I trade in the NOW only.
Fundamentals mean nothing to me, I dont bog myself down with reading current news, or opinions about markets.
Its all useless for my style of trading.
The only thing important to me is what just happened two seconds ago.
Scalping is basically human psychology/emotion charted out.
If youre good at reading people, than scalping will come naturally.
But when I say I dont read news, doesnt mean Im not aware of news releases. Those are important to know, when they occur.
They used to be tradeable as well.
Intense emotion, big moves. But now the spreads widen too much, platforms become unstable. So its best not to trade around news releases.
Anyway…
I treat trading like a video game, where I have to earn 0.5% to get to the next level.
Each day is a new level. That might sound stupid and naive to you.
But believe me, Ive tried every method/system/indicator there is and this way of thinking is the only way I can achieve profitability.
Now…
As for a system that you can have to be profitable.
I can’t give you one or even recommend one.
Discretion is my system. Feel and intuition is all that I trade by.
No one “signal” gets me in and out.
The only REAL advice I can impart to you.
Is to quit demo trading.
Deposit a small amount (like $50) into Oanda, and trade very small. (20-50units)
You’ll be trading for pennies, but theyre REAL pennies. Not demo.
It might not seem worth it at first, cuz youre not earning substantial sums, and putting time in for amounts you could find in a couch cushion.
BUT…just think in percentages ONLY! Not pips. Not $'s. Just % growth on account.
You’ll be learning valuable psychological lessons, based on real emotions, tied to real money.
Demo can’t even touch that ability.
IMO…Demo is only useful in learning a platform. Thats it.
Another piece of advice for scalping I can give you…
Is to strip your charts of all indicators.
Bring up a 30sec chart, and a 1min chart.
Then try for a month to trade succesfully without indicators.
But with REAL money. ($50 in Oanda, trading 20units a trade)
Learn to anticipate the market.
Try to imagine where people are entering and exiting out of fear or greed.
Or where peoples stops would be. You’ll start to notice easily identifiable “panic” points, based on human emotions.
Learn to “breathe” with the market.
When you can achieve between 0.1%-0.5% a day, then add whatever indicators you think will strengthen your edge. But NEVER rely on the indicators. Only use them for strengthening ideas/trades.
I use the large bollinger bands to set my “Dynamic” support and resistance levels.
They sometimes keep me out of bad trades, and alert me to good ones.
Extended trendlines can form a “fractal matrix” of sorts, to give you dynamic levels of S&R as well.
BUT the key is…I can still trade without them if I needed to.
The market is readable without indicators.
Remember…its only human emotions that are causing the waves.
Learning to anticipate those emotions/levels will help you more than any indicator/system ever could.
PS I’ll talk about astrology here, which many just shrug of as hogwash.
But I think theres something in it. At least for archetypes of personality.
Im a gemini, and the way I trade is the way most books explain my personality.
So my style suits my personality type.
Thats why it works for me.
For example…
My dad trades too, and hes a Taurus.
They need security and structure, acording to most astrology books.
He absolutely can’t fathom the way I trade, or why I would want to trade like that. He “needs” a rigid/quantifiable “system” with rules, and Takeprofits/Stops.
He needs structure.
So you see…
Everyones different, and what works for someone else may not be the right thing for you. Thats why trading is awesome.
Because it can be molded to fit your personality profile.
Figure out what your personality type is, and perhaps try build a method that suits/matches that.
And most important of all…Have fun doing it!!
If you’re not having fun trading, whats the point??
hello man
1st of all i would like to appreciate ur reply and such a good and long advise, thanks for ur time.
you know infact when i lost all of my mony last year i decide not to invest anymore in forex, but after some time i realised that i cant quit it bcz i really enjoy that even the loss (seems crazy). after that i started to lean the basics and i found the school of pipsology on babypips. i real all and understand and practice all the knowledge gained.
now it make the difference that i can understand the forex basics and understand what terms people use about forex and strategies.
but still i want to get more knowledge…
i totally agree with u that if i want to get my money back i will losse more… me also made this mistake already…
but after taking break in forex trading, i controled my emotions and i behave market what i see, dont what i want… i think thats a goos achivement
now i have only one plan that i dont care how long it will take, but i want to be a successful trader, its my promise to my self.
what i know about my personality is that i want might be little but continuous pips…
thats y i like scalping…
one of the reason y i like ur style is i have good time to catch asian session not others.
i request u to tell me how u decide where is the support or resistance, or when to enter and when to exit the trade if u dont use fixed entry and exit pips.
thankx
۞PIP-SIPHON۞
Great post
Its refreshing to see some honesty in this game. I have tried many different ways of trading. I have a small real account. I have been trading live on and off for about a year I still consider my self learning, I don’t blow up accounts any more but long term profit has eluded me. Every time I try some new way of trading I knock the balance down. When I decide “this isn’t working” I will come back to a technique very similar to yours to rebuild my account. I can do it every time but it takes some time. I think there is so much pressure to trade higher time frames that I keep trying new things. :rolleyes:
My exact system is different than yours I don’t make quite as many trades and the risk per trade is a little higher I think .003 is what I have settled on, that allows me to average down if I have to. That’s another thing I am hesitant to admit I use:cool:. I have a daily cut out point if I reach it I am done. All my MM revolves around that limit.
I think I might have to bite the bullet and go against the grain and join the %5 my own way:D.
Hey all,
So I decided to maybe start posting again in this thread. Not sure if what I posts helps anyone really…since my trading is quite discretionary.
But I guess it doesnt hurt. And I figure it might be useful for others to see what I did in the same session as you. (if anyone trades the Asian/Pacific session)
I’ll see how long I can go posting, until I get tired of it again. 
Because it does become a chore after a while.
But its been a while, so…
Heres last nights trading, on that nice rally on the Euro.
I was trading the 5 minute chart instead of the 1 minute like usual.
Weeks Results
Monday - 1.9%
Hello ۞PIP-SIPHON۞ good to see you a postin’ agin. Hope you alls is making money.
Hey man, keep it commin!
Tonights trading…
We had a nice move down, which sadly I missed. 
But I caught the tail end, and the consolidation that followed.
I had a nice “big” long trade, at the first trendline/fibo confluence.
I also had one losing trade, which was totally my fault for jumping the gun.
I sold there (circled trade), because I thought it was gonna tank from there.
When I look back at the chart, you can clearly see it was at support, and it didnt break. I jumped the gun too early, and mostly because my thinking wasnt clear, because I had regrets for missing the first part of the move earlier. So I was hoping for another strong move, which deep down, I knew wasn’t gonna come.
I decided not to average into the trade, and just exited. Oh well.
Trades shown on the 30second chart.
Weeks Results
Monday - 1.9%
Tuesday - 1.22%
Thank you so much for this thread! Finally, I found the right style for myself… already had some success. I’ve been stalling for a while now… now I’m making progress, thanks again for your tips!
So heres tonights trades
Probably not gonna stay up for the london open…Im falling asleep at the screen here…lol 
Anyway…I decided to trade semi-naked tonight.
Without my BBand levels. Worked out just fine.
Had an average in at the top there…and had a two tiny little trades at the bottom. The last two trades I netted 1.2pips. :rolleyes:
Looking back now, in hindsight… I coulda let em run up to 1.4510…but I seriously thought price was gonna drop from there. So I got scared and exited at 0.9pips on the one and 0.3pips on the other. lol
Overall return tonight. 1.4%
Weeks Results
Sunday - 1.4%
Tonights trades,
Started at like 6:00, done at around 6:40.
Caught a nice down move, just as I sat down at the computer.
Love it when that happens.
Gonna call it a day now.
Way ahead of my goal for the day, so I dont need to work anymore tonight. 
Weeks Results
Sunday - 1.4%
Monday - 3.8%
Thanks for your posts, ۞PIP-SIPHON۞! Rest assured they really help. I’m relatively new to FX, but have been unable to stick to the long timeframes as most old-timers recommend…and I find your scalping style very appealing.
Thanks for your efforts
Hello
Could someone please help me with setting up these indicators,
Thanks