Hello Pip-siphon. I like your style of trading 
It seems that trading can be even entertaining if you make it that way. I just have some questions.
On your charts with white background what are green, blue and red straight lines? And do u use pivot points?
You have said that you are watching ticks like a hawk to decide whether to buy or sell on S/R. Do you watch some figures or something else ?
Thank you very much for this thread and wish you many pips this year
The blue lines are my own “invention” I guess you could call it.
Though Im sure many have done/thought of it before…(Gann??)
Basically I draw two trendlines at the start of the asian session, One in whatever uptrend is showing, and one on whatever downtrend is showing at the time.
(usually small, since its the slow time)
Then whenever theres a next bottom or top, I copy the trendline with the same angle to the bottom and top and from there, I multiply those trendlines at the same angles with PHI ratios. Upwards, and downwards.
If you know the PHI ratio, you should be able to eye it.
I find that price obeys these lines quite well.
But again, as with any trendlines, its all subjective. 
Its funny though…
Ive got two 24" HP widescreens, plus a laptop screen and I still feel like I need more space. :eek:
Which indicators?
PIP-SIPHON:
My first post here. Been a lurker for a long time. I wanted to make a quick post to thank you for sharing your trading strategy.
In the last 2 days alone, I’ve managed to increase my account my 10%!
I’ve tried MANY different strategies before, and to be quite honest, yours fits my personality best.
I’ve been trading the US and Asian market. Around 7am-12pm PST and 7pm to 10pm PST.
Honestly, you’ve laid out your method to the tee. There isn’t any need for improvement! It works perfectly well just as you’ve described it.
Thank you!
OT: I’m also from Vancouver! Grew up in Vancouver/Burnaby. Moved to Bellingham, WA after I graduated high school (1994) to goto WWU. Been here ever since.
Like mine? 
I think in the first post you mentioned something about 300fibo bollinger bands, could you please give me a step by step how to put them on my charts, Today on a demo account I was trading naked and pulled in 1%. I really want to learn this method
Thanks
What platform are you using?
I am using oanda
Wow Pip-siphon you really have some very interesting ideas It seems that you like fibonacci technics. But your answers just lead for more questions, but you know all humans never stop learning So i would want to ask you for these fib ratio sets. Can u tell us what is the basic idea behind them?
I have only one monitor, and like you like boillinger bands, and like to scalp in in one of my windows i have only trendlines, S/R and fib R/E on 5 min tf, and in the other BB 20,1 and BB 20,2, now i would add your fib BB. What else would you add to help me feel the market breath ?
And thank you very much for your previous answer. Not many profitable traders would share their wisdom.
On the lower left of the Oanda chart window:
Repeat steps 1-4 with the following settings:
I would also suggest selecting a different color for each BB as you add them to the chart. You cannot change the colors after you’ve created all of them since they over lap each other.
thank you Cspeed, in a nut shell if prices touch the top bollinger band than go short and bottom band than go long. And that timeframe chart pip syphon use?
Umm, no. You may want to read this thread over again from the beginning 
You’re looking for area’s of confluence of the BB’s and trend lines. When price reaches one of these area’s as support, then go long and vice versa.
It’s takes some practice and disgression on your part to know if it’s a good confluence point to take the trade or not.
Cspeed, would you consider the very top of bollinger bands as resistance and bottom support and what timeframe would you use, sorry for these silly questions, I am a dummy in scalping and indicators
Exactly,
It takes screen time, and tick watching to know when a certain level will hold or not.
I dont just blindly take every confluence.
Also watching other currencies seems to help as well.
But general rule of thumb, if the price has moved SHARPLY towards a nice strong confluence. A reversal is likely.
But remember. We’re only in it for around 5-7 pips. Dont get greedy.
Price can breakout strongly at anyone of these points.
But it depends on what chart youre trading as well.
If youre using 5 minute charts, then 8-15pips is your goal…
But mostly I trade 30second or 1min charts.
The best confluence points are ones that are happening across at least 3 timeframes. Which is what I recommend to all newbies trying to trade this type of strategy.
To avoid overtrading, and to maximize. Just take the strong confluences.
2-3 trades a day can easily bring in your 1% for the day, depending on your position size.
But like I mentioned before.
My success comes mostly from position sizing/choice.
If I think confluence is strong…I go bigger.
If I think its weak I go small, with intention to average in lower if it goes lower/higher.
If Ive gone big, and it turns against me, I get out QUICKLY!!!
Only average the ones you can afford to average.
Never overleverage yourself!! NUMBER ONE IMPORTANT RULE
If your account is $1000.
Your biggest position size should only be around 5000units.
Or 1/5 of your actual leverage available.
Sounds small for scalping, but its what has worked for me.
Oversized positions do nothing but weigh on your mind/emotions and will stress you out. Sure you can gain faster, but you can lose faster as well.
Also…
as for the 300 bollinger.
This is what I have on my Meta charts.
But on Oanda, Ive got mine at 161 periods. I think.
You know…for 1.618. Theres magic in that ratio…lol
Tonights trades,
Started the night off with a loser. I thought it was gonna breakdown at that point, but it didnt.
I just took the loss -3.1pips. Because I was in a larger position
Anyway…the rest of the night went well.
And it was a short night too. Only traded half an hour again tonight.
Thanks to a nice sharp upmove and downmove within a short period.
[B]Weeks Results[/B]
Sunday 1.4%
Monday - 3.8%
Tuesday - Didnt trade
Wednesday - 1.22%
I am living in a country where the asian (quiet time) is my sleeping time so I have to make provisions in other times. This morning (london time) I tried scalping again, I keep ending up on the wrong side of the market. I use the 15 min chart for dertermine high/low and the next swing. That usally give me to go short or long, than i enter on a 5 sec chart.
I cant tell direction maybe I am only doing it for 2 days now, I have $ 1000 demo account and I start with 100 units, pretty small but i start scaling in as price drops, Within a 50 pip range or so I have about 200 open orders and take 2 to 3 pips at a time, sometimes less, I increase unit size to 200 on ocassions where i feel strong support. I traded for about 2 hours and pulled in about 0.4%. This way of trading has quite some potential but it needs alot of concerntration and every tick should be watched like a hawk. I think practice makes perfect. This way of trading is all rules against trading. At one point my margin has been used up so no furthur trades so I started closing a few trades in a loss. Gains are really small and it requires hard work, better small gains than loosing money. I really need to smooth down my edges but bottom line is…
I LIKE IT
pip siphon, please correct me if I am wrong, you say you use fibobollinger 300 but in your post no 50 it says 200. I am slighty confused here
Yes youre right,
Ive used 300, 200 150 and 161.
Find whichever one you like best.
I find 161 my favorite. for the asian session…since its usually slower, so tighter bands can give more trades.
But its a matter of choice.
300 are great when the market is moving and covering a bigger range (NY, London etc)
For example todays NY session I spot about 4 nice trades off the 300 bands on the 5 minute chart.
Too bad Im asleep then. 
As for your entries being against the direction. Yes…it just takes practice to perfect.
Soon you’ll find you only need to average 3 times. Then twice.
Then suddenly you’re picking perfect tops and bottoms.
Not everytime. But the majority of the time.
It also comes down to good days and bad days.
Sometimes you’ll have to average every trade. Sometimes none. Its just the way it goes.
And yes it requires alot of concentration and patience.
Which is why when I make more than my 1% for the day,(like on this tuesday) sometimes I wont trade for a day or two. Just so I dont get burned out.
Also…please note.
There are days when you want to trade with the trend and not try to pick tops and bottoms. You can usually see what you should be doing, by looking at the longer timeframes.
I find if price breaks through one band/level it usually wants to go to the next. You can play these gaps between levels. Like if a candle closes above a band it will usually move to hit the next one. If theres volume behind the move. Its basically all about just not being greedy and taking your 3-5 pips when it presents itself.
Damn
Missed a wicked down move for the asian session.
And my trading buddy said that spreads were at 0.9 tonight.
Too bad I missed all the action.
Im now sitting at my desk, spreads are 1.2 and its consolidating.
I think Ill just call it a week.
EDIT
So I couldnt help myself. Just as I was about to shut down, price suddenly jumps 30 pips.
Anyway…
It ran sharply right into a strong confluence point. I took my biggest position allowable.
Made 8.9 Pips on that short.
Then it tanked down into another confluence point sharply again.
Took another 4.9 pips on that one.
NOW Im calling it a day. hehe
[B]Weeks Results[/B]
Sunday - 1.4%
Monday - 3.8%
Tuesday - N/A
Wednesday - 1.22%
Thrusday - 1.17%
[B]Total - 7.59%[/B]
Nice! I was busy for the early part of the evening as well. I also managed to take advantage of huge spike as well… pretty much the same 2 trades you made
Thanks again for sharing your system! Totally fits my personality.
I’m up 12.56% for the week (Started your method on Tues. actually).
The only part I’m having a little issue with is when you scale in… So far its worked out for me each time, with a max of 3 scales-in’s (2 add-ons).
I’ve been adding on by a factor of 2x the last position size. It’s a little unnerving as if it continues to go against me, it could turn into a HUGE loss. TBH, at the 2nd add-on, I’m already a little nervous haha…
I recall in one of your previous posts, that you scale in using 1.5x the original position? Do you continue that factor for the 2nd/3rd scale in? (Provided there is a strong support/resistance above/below of course otherwise, exit with a loss.
Thanks!