QUOTE(sleepwalker @ Oct 5 2010, 05:22 PM)
I don't know whether you are trading now or not but if you have been trading for the last 2 hours since the London market opened, EU moved 100 pips (view attachment below). If you could not scalp at least 25pips out of that move, you should not be scalping.
New forex traders should spend time at www.babypips.com and not here. My advice was not for new forex traders. It was an answer to a question whether 50% per month is doable. New forex traders would not be aiming for 50% unless they are seriously delirious about FX.
This is only the Asian/London overlap. More to come at the London/US overlap. For scalpers, overlaps are the best and only trading times.
Added on October 5, 2010, 5:36 pmThese are very short scalping trades.
182685181 2010.10.05 05:07 sell 0.86 eurjpy 114.581 0.000 0.000 2010.10.05 05:08 114.509 0.00 0.00 0.00 73.97
182685247 2010.10.05 05:07 sell 0.86 usdjpy 83.741 0.000 0.000 2010.10.05 05:08 83.699 0.00 0.00 0.00 43.15
182685454 2010.10.05 05:08 buy 1.03 gbpusd 1.57593 0.00000 0.00000 2010.10.05 05:08 1.57803 0.00 0.00 0.00 216.30
182687525 2010.10.05 05:25 sell 0.87 usdjpy 83.743 0.000 0.000 2010.10.05 06:30 83.707 0.00 0.00 0.00 37.42
182688000 2010.10.05 05:33 sell 0.87 gbpjpy 132.518 0.000 0.000 2010.10.05 05:37 132.492 0.00 0.00 0.00 26.99
182689168 2010.10.05 05:41 sell 0.87 gbpjpy 132.528 0.000 0.000 2010.10.05 05:50 132.492 0.00 0.00 0.00 37.38
182690046 2010.10.05 05:52 sell 0.87 gbpjpy 132.502 0.000 0.000 2010.10.05 05:56 132.464 0.00 0.00 0.00 39.46
182690849 2010.10.05 05:59 sell 0.87 gbpjpy 132.525 0.000 0.000 2010.10.05 06:21 132.481 0.00 0.00 0.00 45.70
182693746 2010.10.05 06:25 sell 0.87 gbpjpy 132.510 0.000 0.000 2010.10.05 06:29 132.477 0.00 0.00 0.00 34.30
That looks more way more than 25 pips in less than 2 hours. Best thing about scalping is that by the end of these 2 hours, all your trades are closed, profits taken and nothing to worry about for the rest of the day.
sleepwalker, u trading using thv system?
Added on October 6, 2010, 2:08 amQUOTE(evoangel @ Oct 6 2010, 01:55 AM)
duh.. have to agree with you with the scalping method.. i start doing it since day 1 when i start trading and still maintaining till now..
getting 50-60 pips min per day..
another thing is i DO NOT trade news.. dunno y, but i prefer sit @sideline and watch..
anyway its not i biased to sleepwalker's advice.. but i indeed learn to scalp/hedge when my first trading day. and im comfortable with wat im doing anyway.. AGAIN, methods are not to be followed blindly until u know exactly what are the risk/gains..
pls do not try this at home.
scalping requires strong mental. i trade off the m5 with minimum 50 pips a day, a pair, if i have the time to sit at the computer, hehe. as long consistant 25pips a day, imagine playing that with big lots
This post has been edited by Quinn: Oct 6 2010, 02:08 AM 
Feb 23 2010, 01:18 AM
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