Thread: what ive been doing

Final scalping total is 172 pips.

Trade went against me..lost another 46 pips..now up just 130 or so...I think im done.

Scalping in FOREX can get irresponsible. I believe.

Obtaining near initiate a transaction on JPY. Im aiming to initiate a transaction some where between 110.75 and 111 . Must check of my fundamentals. See what the BOJ is thinking etc....

AUD/USD is thru the tunnel..waiting for its 12 ema to grab and reverse slope. Again, a check of the news along with the fundamentals prior to making the trade. AS I recall, when I was in Brisbane a few weeks ago, they set up rates. . .so Im a solid Aussis dollar vs the USD is a continuing tendency. . .for now. I want to remember though that the sentiment can change anytime....

USD/CAD can also be thru the tunnel..as is your 12 ema..waiting for its slope to alter before considering initiating a position. Looks like Ive been looking at the wrong pairs if I was looking for a real $ buying rally.

LOL..of course I've a long lunch and missed a few good opportunities towards the close....lol

Originally Posted by ;

Final scalping complete is 172 pips.

Ok. I want to understand how you do this. Can you stay in front of what or PC all day? I've attempted to do this myself but no chance. Now I simply swing them.

Johnny

Pretty much..Im actaully a systems\network engineer by trade... I have 4 wide screen monitors and a MAC facing me....lol So yeah. . Im tracking the markets. . In addition, I have alerts emailed to my telephone (THRU FOREX.com) when Im waiting for certain setup to appear and Im not facing a PC....

Understand however, Im not a professional trader. . .nor do I scalp. I figure it will be fun to post my FOREX experiences up here. . .maybe Ill learn something new. I typically look for trends and run with them....scalping is hard..you truly need to be watching all the time..so it is possible to feel that the price action..hard to describe....but on occasion the market can bounce between 2 numbers (a temporary support/resistance) before running thru them. . .its when these amounts are run thru when I begin to shed pips. .

-Nick

Hey,

Pardon me for intruding. You gave me an idea! You said you use 144/169 for a channel. And you trade when the price hits the channel. I do in one of my approaches originated from the fire approach. He uses 89/144. But only for a fashion indaer. Not entry. I use there cross for an entry signal to begin waching my 30/10/5/1 minute charts.
You gave me an Idea and that I want you to have some of the credit. I took the gap between 89 and 144 (55) and added it to 144. Got 199. So I left exp. MA's of 89/144/199. Apply it into the one hour chart. (30 min gives false crosses). Make the 89 the trend indaer. (bright colour) 89 on shirt is bull and 89 on underside is bear.
In the euro/$ chart by way of example, when the price returns to the channel input long over the cross of the macd up. Use 4 ema and 8 ema to help pin point entry. Place s/l only the other side of the ma. Exit on a cross.
This chart is of a strongly trending market. This impulse wave on the daily/weekly will see. (mabe) You are able to see each transactions profit. Each grid square is 50 pips. Trade was roughly 25 and biggest was about 200.

I hope you do not mind me tweeking your idea. Its a great one.

Dave

edit and I published a chart earlier on the very same entrys but using fibo retracement method. The entrys on the two approaches line up so than we think making this one more realiable. (mabe) lol