Long time didn't scalp. Managed  3 trades today on demo .... not bad.

Long AU and Short USDCAD now.

anyone trade eur/usd？

It just did a sudden drop to daily pivot point.. 

Although I got +46 pips from it, but I don't know why it drop suddenly.

hmm.. I look at it again at eur/usd-H1 chart , the following bearish candle after bullish candlestick close below than opening price of the previous bullish candlestick. is it still considered as dark cloud?

and may I know what is the relationship between EMA 200 and dark cloud here? what do they indicate?

I see! it all make sense now after I switched to H4, definitely will appreciate your recommendation to see higher timeframe. thank you for the detailed explanation! 

btw, how do you get your target of 1.2590? may I know what timeframe you use for pivot point? 

I see! it all make sense now after I switched to H4, definitely will appreciate your recommendation to see higher timeframe. thank you for the detailed explanation! 

btw, how do you get your target of 1.2590? may I know what timeframe you use for pivot point? 

did you guys attend forex class or you learn to trade by yourself ?
how long do you take to master it ?

taikors n sifus,

newbie here trading forex almost near a month. unable to make any profit,

drop, gain, drop, gain n just manage to break even 

taikor, i no attend any class, i jus learn basic stuff online

i normally use m5 & h1 to decide entry, when i see nice chart, then i jump in 

what is your thought about this ?
is it ok if i join in ?

http://klfxunitedclub.com/home/trade/

hi sifu, just read your post now. Today got sick badly
If I look at H4 AUDCAD, I can see double top pattern if forming which usually indicates bearish continuation.

But I also found hidden bullish divergence between price action and RSI in H4 chart.

And using daily as a variable for my pivot point, I can see price action was testing M2 level which was tested too before.
I would have sell at first (due to double top pattern), and put a pending hedge( buy stop) scalping (aim small pips) from the possible fakeouts.

also look out for the possible retracement comes much later on H4 by using fibonacci retracement. 
Kindly correct me if anything wrong. thanks

Spread example.

1st Picture: http://www.fxprimus.com
Very low spread. EU spread is very very low, 1 pip most of the time. Japanese pair is about 3 pips. This is my main account. No nonsense rule especially for scalping.

2nd Picture: http://www.fxcm.co.uk
This is 5 decimal account. If you see, 41, it means 4.1 pips. So so in spread but low leverage. I mainly trade gold on this account.

3rd Picture: http://instaforex.com
The only good thing about this broker is they offer wide options of trading but spread is the worst. Japanese pair such as NZD/JPY, AUD/JPY, etc to a whopping 10 pips in spread. That's crazy. I don't trade forex on this account. Mainly for wheat, cocoa, soybean, etc.

any tips for scalper?any indicator suitable for scalper?

i think most of u use it...but i just know about this today...from my revision, using EMA and fibo is almost 90% reliable...basically i just foud out using EMA12 and 26 we can look for short buy and sell entry...for long entry use EMA200 should be more valid...and combine this EMA with fibo retracement...u can see if the trend movement just fakey or not...i will start to use this indi for my next entry and look at the result...i will share it here for educational purpose especially for newbies...

and here below is the picture an example of EMA12 (yellow) and EMA26 (green). EMA200 (red)...the yellow line is fibo retracement indicator.



if u look at the picture above when the yellow EMA and Green EMA touch or cross each other thats mean its the right time for a short entry...if the yellow line is above the green line meaning it is for buy entry and if the green line is above and the yellow line is below meaning the trend is for selling...and how to know what is ur TP? when the candlestick touch ur EMA line again for the 2nd time meaning its worth to stop ur entry or u can wait until the EMA line is crossing or touch each other again...how to set SL? look for the highest and lowest candlestick at H4 timeframe and that will be ur SL....

and from the above picture u can see the trend for EJ at H4 indicates its still in BUY trend...however it already touch the fibo lines and if it breaks means it will go for uptrend if its not then it will go for downtrend again...and dun forget the major trend is still selling due to EMA200...so if u look for short entry its worth to try...u may gain 50-200pips using this analysis... thank you...

credit to http://www.dailyfx.com/forex/education/tra...rex_Trends.html