Just thought I'd post a signal given by my "Magnet" system. I see the USDJPY getting to at least 117.35, most likely during the Asian or EU session. Presently it's 8:20 PM 12/22/05 (NY) and USDJPY is at 116.75. Again, I'd like to point out that my ...

JohnFX's Price Magnets

Quadruple Interest — Guys; It looks like because of the Holiday this Monday (markets are closed Monday), today is quadruple interest instead of the usual triple interest (for the brokers who pay such interest). A good way to get the interest ...

Interest

Hello Don; Glad to hear your trading is getting better. I have been holding my own during these thin Holiday markets. Have taken a few days off with no trading. Doing my usual 10-20 pips/day. I am really taking a simple approach and taking most of ...

JohnFX's Price Magnets

Hey Jim, how's it going? How bout them GIANT's (oops, I mean Cowboys..LOL). Hope the G-men can hold on and win the NFC East. Our defense has been playing very good, but Eli has been a bit shakey lately. But have to remember he's basically still a ...

What exactly is 'scalping' ...?

Scalping is very quick in and out trades, especally during high volume and volatile periods. Many times the trades only last a minute or 2. Takes skill, experience and practice when using real money. Your avarage retail broker (actually they're ...

What exactly is 'scalping' ...?

I've included below an email I got from InterBankFX, since this discussion is about interest. IBFX now pays (and subtracts depending if your long or short) interest on mini lots. Now they also have micro mini lots if anyone is interested. Regarding ...

Interest

Well said Nardino. Good post. JohnFX

Mathematical reasons why MOST DayTraders & scalpers fail?

Don; Not all the trades were taking only off the 10-20 EMA. A few were impulse trades off of my observation of price action. I think a couple were minor trend line breaks. But, yes, I do prefer to see price under (short) or over(long) the crossing ...

JohnFX's Price Magnets

Yeah I know what you mean. Today I used a 10 pip stop (experimenting). Going back to 5-6 pip. Looking at my trades, my winners would have still been winners with the tighter stop. Oh well, that's scalping. But, if I was trading 50 lots, still would ...

JohnFX's Price Magnets

So so day scalping today. 11 wins 2 loses. The wins accounted for 30 pips and the losers totaled 20 pips (more than normal), for a net of +10 pips for the day. The markets were rather thin again today, so I'm happy I had positive pips. JohnFX

JohnFX's Price Magnets

Jim; I'm pretty confident they will get hit. Probably tonight or tomorrow. The thing I'm trying to figure out is where the best entry point would be when I spot these Price Magnets. What I'm trying to say is once I identify these price points, I ...

JohnFX's Price Magnets

It was looking like a pretty dull trading day until around 10:10 AM (NY) and the EURUSD popped. I suspect it was a stop clearing move by the MM's. Well I managed to get a piece of it. Otherwise I was probly looking at a break-even day scalping. I ...

JohnFX's Price Magnets

Hello; The following is from one of my previous posts. Please read. This thread was started just a couple days ago to discuss scalping and very short term trading in forex. I am primarily a scalper, but recently have notice something on short term ...

JohnFX's Price Magnets

The above mentioned targets for eurusd & usdchf were all hit last night. The usdjpy still hasn't. New Magnets: eurusd 1.1730 then 1720 usdchf 1.3140 JohnFX

JohnFX's Price Magnets

John Carter of TradeTheMarkets is a big user of the box play. John is a great trader, have taken a $5000 account (real money) to $45,000 in about 5 months. JohnFX

box play

Hello Simon; During the near future (days), I'll try and post some charts pointing out the trades. Of course scalping is not strictly technical, (at least the way I do it). As I have stated previously some of it involves experience from watching ...

JohnFX's Price Magnets

Pending Price Magnets — These are my current pending Price Magnets. EURUSD 1.1770 (I had prev. stated 1.1785 that was an error) USDJPY 1.2120 - 25 USDCHF 1.3122 (new one) 1.3080 Lets see if these get hit this evening during asia & eu sessions. ...

JohnFX's Price Magnets

Today is an example of why I like scalping. You could consider today a hard day to trade because of the choppy conditions. But if you have scalping skills it could still be a pretty good payday. I'm not trading 40 or 50 mini lots per trade yet, ( I ...

JohnFX's Price Magnets

Hey Don. Yeah all eurusd. Update: actually I had one more 2 piper around noon time on that little mini plunge. So, 7 for 7 for 14 pips. Thanks; John

JohnFX's Price Magnets

Tight ranged, thin market today. I did 6 scalps, 6 winners but for only 12 pips total. But I'll take it. Tomorrow and Friday should see better action, hopefully. JohnFX

JohnFX's Price Magnets