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Thread: Interactive Euro Scalping

  1. #1
    (using the Roofless Scalper Method)

    7th March 2012 Update:
    This is not a system sharing thread however a ribbon to pull similar styled scalpers together to trade with me and discuss suggestions and call transactions we enjoy. Any transaction calls must be called before hand and not after profit is already taken. If you obey my transactions do this at your own risk and remember this is super speedy scalping so by the time you view my chart posted it may be too late to touch base with me but consider this as a learning experience. I will post my ideas for future transactions as I view them and then post when I'm in and when have exited.

    The egy I could name the 'Roofless Scalper Strategy' however this isn't a mechanical method. It is price action scalping which requires you to consider each transaction and use horizontal support and resistance, overbought/sold regions and price candle signals all on the M1 period frame.

    Be warned, this isn't for newbies and requires a lot of earlier display time and familiarity with the M1 charts. Some transactions may be fast paced requiring one to take 5 pips in less than a moment. And some are easy going transactions which hit 10 after ten or twenty minutes. Some will enter loss in a brief time. Every transaction differs. I don't look for over 10 pips in any trade and possess a fixed TP of 10 using a predetermined SL of -7. When profit gets to 7 I move my SL to Break Even.

    I get tight spreads and spreads in my account so if you are working with a entire transaction cost of over 1.5 pips or 2 pips in the maximum on EURUSD this might not be the way for you. Also speedy execution is essential. Trading directly on MT4 isn't recommended for this method.

    Thanks for any and all contributions to this thread. The main reason I've created it's I'm bored trading in my and need to show others how I do this and exhange trade ideas and ideas along the way. If anyone feels this thread is assisting them a lot then please vouch for me Thanks!



    ---------------------------------------------------------------------

    I wanted to post this in the Forex forum but because I don't have some vouches I can't post it there and this will have to do.

    I'm starting this thread to pull in fellow scalpers who love to own scalp EURUSD so we can compare notions and learn from each other.

    I scalp tops and bottoms for 5-10 pips using a -7 pip stop. In contrast to popular belief, scalping tops and bottoms may be achieved with success. It is challenging, however it's possible and for me personally it's a much more interesting and proactive trading method than taking 3 or 2 'set and forget' transactions each week.

    I'll begin with my first trade of the day. A brief from 3142 for 5 pips. Price action is in a really tight 15 pip range right now so searching over 5 pips isn't worth it. I'm waiting for price to break out and begin making bigger swings of 20 pips.

  2. #2

  3. #3
    Quote Originally Posted by ;
    Morning men,

    I am probably not likely to be trading now. I hate days like today, with lots of news, Ecofin and Draghi talking then FOMC afterwards, these days are tough for me personally.
    Hi Roofx,

    just in case you are seeking new trading suggestions to handle wild days like this one:

    There's another thread here inforexforum.co.zawith seasoned traders who concentrate on EUR/USD quite successful throughout the day. It's called and Medici trade the European open.

    Of course, I know that you are already an experienced trader. Experienced traders make money mostly by knowing when to not trade.

    ... but this doesn't mean that learning ever ends in regards to trading (or anything else, for that matter ).

    Cheers,

  4. #4

  5. #5
    Third commerce of the day. Short from 3153 looking to get 10

  6. #6
    7 reached so transferred SL to BE

  7. #7

  8. #8
    Hi Roofx

    I also like to scalp the 1 minute chart but as yet I have not completely defined my system. But will happily share my thoughts with a fellow scalper.

    I think my biggest problem is accepting profits rather than worrying about what I have left on the desk. Just beginning to get my head around it.

    But it would help if you could tell me your egy and the way you decide on entrance and exit egy?

    Good luck with your ribbon I will be watching it carefully.

    Incidentally how successful are you and how long are you trading your own system?

    All the Finest Clive

  9. #9
    I scalp but use futures. Not sure I could do using Currency Market due to spread

  10. #10
    Quote Originally Posted by ;
    I scalp but utilize futures. Not sure I could do with FX because of spread
    Can you tell us some more about how you scalp futures?

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