It's a good start... — You are thinking critically about a forex trading system and that's a good start. The minor "flaw" with your method right now, and we all have fallen into this trap before, is to believe that a 1:2 risk/reward scenario ...

Trading strategy with the Power of Money management

While they look similar... — While they look similar, a trend line break on many (not just one) random charts should end up being a loser over the long run, factoring in spreads etc. Now a trend line break on many real charts... over time ...

S/R and TL on Randomized Price Movement

Thanks Siboy... — Yeah I have attempted to trade like Hoss put forth in his thread... honestly, the difficulties came with the RSI and finding divergences. I think I need more practice with it or more guidance. Thanks for the suggestion... For ...

30 Days to Profitable EUR/USD Scalping....

How I am scalping now...as of Day 30 — I'm using 200 period Bollinger Bands with deviations of 1,2,3, and 4. I am also placing pivot points on my charts (PP, R1, R2, R3, S1, S2, S3). Lastly, I am drawing lines at "psych" levels of 1.xx00s and ...

30 Days to Profitable EUR/USD Scalping....

Day 30 — I only traded from 1:00pm to about 2:00pm EST. I woke up late again, some lack of discipline there. Net profit of about 1 pip after 5 trades. The two losing trades were less than 4 pips. That is where I should be! This will be my last ...

30 Days to Profitable EUR/USD Scalping....

Something that I don't do often enough... — I was thinking about my recent trading, and a post previous I mentioned I "forced" some trades to stay active. My normal activities are trying to buy/sell on pull-backs or retracements, and then ...

30 Days to Profitable EUR/USD Scalping....

Hmmm.... — That last article posted by FT Alphaville says "On Monday, the CFTC will issue its decision on leverage caps in the forex punting business. It’s a make or break moment for all those firms that offer margin trading to those wanting ...

Could 10:1 be the new leverage in US Forex?

About Oanda's "secret" trading algorithm... — Some people suspect Oanda of having a "secret" trading algorithm that moves prices on a short-term basis purposely to "shake" people out of trades. I watched MB Tradings quotes versus ...

30 Days to Profitable EUR/USD Scalping....

Day 29 — Started around 12:30pm EST and finished at 2:15pm. I forced some trades, meaning I purposely took some trades to stay active, and practice managing them. Two larger losses today around 6 pips, still about 1 pip too high. One trade in ...

30 Days to Profitable EUR/USD Scalping....

Stating and Performing the "Obvious" — I read somewhere in the forums that trading is a "performance" activity. Like tennis, you can read books on tennis but...until you go out and hit the ball, you can't really learn to play. I ...

30 Days to Profitable EUR/USD Scalping....

Day 28 — I traded from 10:30am to about 12:30pm EST, then I couldn't stay awake any longer as I was up late last night. The European market close took us to the S2 pivot in a strong half hour downtrend. I guess President Obama was on TV after ...

30 Days to Profitable EUR/USD Scalping....

Day 27 — Volatility was more normal this afternoon, it felt different than yesterday. I tried to trade only at the BB extremes with no trades in the middle... "no man's land". Still difficult, I was doing well for awhile, then I starting ...

30 Days to Profitable EUR/USD Scalping....

Pain — It is painful, to post your mistakes and discuss them. I can only hope that I can look back at this journal and laugh somewhat. It must be instructive though, to admit and examine the "bad" habits. When am I going to turn it around? A ...

30 Days to Profitable EUR/USD Scalping....

Day 26 — It's an FOMC day, I started around 11:30am EST. Price action was very volatile for an afternoon, I was surprised. Three trades, three losses, one bigger than should be for my methods at present (losses shouldn't exceed +- 5 pips). My ...

30 Days to Profitable EUR/USD Scalping....

Not yet Profitable... — It is doubtful that I will have the account positive by the end of these 30 trading days for this journal. I will edit the first post as such. Too many method changes and lack of discipline. At least, it has returned me ...

30 Days to Profitable EUR/USD Scalping....

A "missed" trade... — EUR/USD started to "flatten" out as we approached 2:00pm EST. As the price action slows down, the BBs start to converge. I didn't take this trade because of the slow, quiet price action. It is interesting though ...

30 Days to Profitable EUR/USD Scalping....

Day 24 — (should be titled Day 25) I've added some 200 period Bollinger Bands, along with Pivots, and "psych" levels to use as support and resistance. I traded from 12:30pm to 2:30pm EST... just 3 trades. A little over 5 pips net profit.

30 Days to Profitable EUR/USD Scalping....

Day 24 — I traded from 12:30pm-2:15pm EST, pretty slow on Friday afternoons. Four trades, down less than 2 pips. Mainly looking for support and resistance, made 2 purchases around 1.3750.

30 Days to Profitable EUR/USD Scalping....

Day 23 — I traded from 12:30pm-3:15pm EST. I wanted to target the slower price action. Started with 4 losing trades, back and forth... nothing big. My last trade, at one point was "in the money" almost 10 pips. The price action was back and ...

30 Days to Profitable EUR/USD Scalping....

Day 22 — Some "stop hunting" at about 1:00am EST before some European news caused me to "just take the loss" because it hadn't come down. It then traded lower, and there was an opportunity about 45 min later to flat the trade or even make some ...

30 Days to Profitable EUR/USD Scalping....