Interesting observation... — Honestly, I'm not sure. Lately, (the past 3 months) I've had more success and more confidence with the US morning session (9:45am-11:45am EST). So, why do Mondays get more attention? My first thought, and this may ...

Profitable Scalping for the Retail Trader

Feel free... — Feel free to post criticism, thoughts, or whatever. I am not profitable for 2010, but I am experiencing some recent success. This thread is a collection of the thoughts and ideas that have brought me to this point in my trading.

Profitable Scalping for the Retail Trader

My Position Sizing template... — This is my position sizing template for account growth in the near future. Position Sizing 　 (EUR/USD 1.3950 as of Oct. 20, 2010) 　 (10,000 units = 1.00) Position Size x 5 / Account Bal = .008375 (.8375%) => ...

Profitable Scalping for the Retail Trader

Chart Examples — These are very simple examples of areas of support and resistance from actual trading days in September 2010 and October 2010. Unfortunately, even 1 minutes candles shown "after the fact" don't always clearly show the ...

Profitable Scalping for the Retail Trader

Addendum — (originally composed Friday, October 29th) Losing Trade Management As I finish my second month of discretionary scalping using support and resistance, I have some confessions to make. Initially, I was using a scaled stop-loss. I did ...

Profitable Scalping for the Retail Trader

Influential Ideas — Influential Ideas for Scalping 　 Take the time to mentally work on these two psychological edges: 1) Suspend what you believe, trade only what you observe, and 2) stay emotionally detached from the outcome of your trades. - ...

Profitable Scalping for the Retail Trader

Notes (Part 2) — In general, I am very wary of highly volatile times (market openings, closings, news…), and/or times when Oanda widens the spread to greater than 0.9 pips. My hours of being available to trade are generally between 9:00am and ...

Profitable Scalping for the Retail Trader

Notes — Keep in mind, all of these trades were completed on an Oanda account, 95% of the time with a 0.9 spread trading only EUR/USD. I have never used MetaTrader. Some have argued that MetaTrader is “slow” or “clunky” for scalping, I do not ...

Profitable Scalping for the Retail Trader

My Trade Selection — These are examples of trades I have entered, all with less than 1% total stop-loss. 1. Scalping against support/resistance on the 1 hour, 15 minute, 5 minute, and 1 minute timeframe. These entries may be from candle bodies ...

Profitable Scalping for the Retail Trader

My Rules — 1. On the 1 minute time frame, price is NOT trending most of the time. 2. If a trade moves in favor of your initial position, keep entire position, profitable trades are NOT scaled out. Exit profitable trade at your discretion in ...

Profitable Scalping for the Retail Trader

My Journey — (Author’s note: Most of this writing was composed on August 20, 2010 before starting to trade a new account. Edited items and deviations from original plans are highlighted in blue text.) I have been trading Forex every day for ...

Profitable Scalping for the Retail Trader

Profitable Scalping for the Retail Trader — Table of Contents 1. My Journey 2. My Rules 3. My Trade Selection 4. Notes 5. Influential Ideas 6. Addendum

Profitable Scalping for the Retail Trader

(sigh) in defense... — In defense of the Vegas methods... I did study them myself, but I'm not suited to longer term trend following nor did I like his "fibonacci" based profit target ideas. I don't know the controversy around Vegas...though I ...

Best trading systems on forexfactory

Wow, definitely more than I had thought... —

"Hedging" Revisited

Trying to help... — I use the candle wicks also, not just the candle close. I examine 5min, 15min, and 1 HR time frames for support/resistance, and enter on the 1 minute time frame. If price went so far before (length of the candle wick), it ...

Questions for those who trade with S/R lines

My first thought... — As a casual observer of the thread... 3 years of data, with trade entries on daily candles... you can't have had that many trades to examine. I realize you do have to start somewhere, and the backtesting must be somewhat ...

"Hedging" Revisited

Here is the following minute... — Here is the following minute... and the link if you'd like to experiment with your own times... url

Gap in EURUSD on NOV11

Trying to help... — My data isn't perfect, as my 1 min bar charts on Oanda do not go that far back this late in the day. I used FX Compare from Oanda, converted the GMT to EST. I believe you are asking about 9:52am-9:53am EST. It looks like ...

Gap in EURUSD on NOV11

A beginning... — url Nanningbob 4 HR trading system ver 5.0 url The Dance or revised "Choros" methods url Vegas Methods (1 HR, 4 HR, etc...) url DIBS Method url THV system, ver 4.0 All very different, all profitable. "I always say ...

Best trading systems on forexfactory