Day 8, Part 3 — Because we were in between the central pivot and S1 almost all day, I didn't have great plans and was trying to formulate something. I drew some trend lines (---dashes---) but I'm very skeptical of 1M TF trend lines. I waited ...

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

Day 8, Part 2 — Looks as if Buyers have entered and they are winning. I tried to get long and actually, lost some pips...then a short (to feel out the market), right after 13:20 on the chart, there is a little spike upwards which I have to ...

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

Day 8 — I skipped much news this morning and didn't login until 11AM EST. First chart is a quiz, what would you do here? I was asking myself the same thing. Downtrend all morning from 9:30AM till about 12 noon EST. Then you have this mess, and ...

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

I don't want to bear the burden of proof... — I don't want to bear the burden of trying to prove your example statement true... but I perceive round numbers to be points of price action more often than is possible by random occurrence. I think ...

A trader's edge - myth or reality?

Quotes.... — Some quotes just to bump the thread, some good posts in here. Paul Tudor Jones- "I am more scared now than I was at any point since I began trading... I know that to be successful, I have to be frightened." Mark Weinstein- ...

Psychology, Trading and You

About Drawdown... — Have you taken a look at your style, system, or EA and it's drawdown? From a professional perspective, a drawdown of 30% or more (any peak-to-valley) would shake most investors. Searching through url , I found some ...

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

Notes and Suggestions — The link in my signature is access to my "system" page at url . If you haven't checked out that website, I highly recommend it. It's free and fantastic for analyzing your trades. I would trade the Asian session Open if ...

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

Day 7 — The morning is volatile, far more than the afternoon. We had news at 8:30AM EST (Building Permits, Housing Starts), and 9:15AM (Industrial Production). Today I was alert and avoided the widening spreads at those times . This was one ...

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

Day 6 — Traded 8:00AM-10:45AM EST. Fast market today, more than I am used to, I could feel it from the first couple trades. Was down pips after the second trade, and never recovered. I also got stopped out before 8:30AM news (MFG Index), when ...

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

Why are --00 and --50s Psychological levels? — I draw pivot point lines on my charts the night before, as well as lines for "Psych" levels (psychological levels) within those pivot ranges at *.--00s and *.--50s. As I stated at the beginning of ...

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

Day 5, Part 2 — U.S. Bank Holiday, and I traded the open as planned, while Europe was still kicking (7:45am-10:45am EST). Made back the pips lost last night, it was a struggle with low volume. No charts today as I don't think days like today ...

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

I have to agree with KGB... — Trader KGB is correct. So... you can take a look at various brokers, transaction costs, commissions, etc. if you are considering trading the Globex Euro or Mini Euro as an alternative. I just pray for a small ...

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

Day 5, Part 1 — U.S. Bank holiday on Monday (tomorrow), so I convinced myself to trade just tomorrow morning while Europe is still open (8 AM- 11AM). I did trade the Asian Open tonight for the first 3 hours. I rationalized this by saying that ...

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

I found this... — I only have experience with MB Trading and Oanda. Disclaimer: MB Trading should be the final authority as I am only making inferences from what I read. This is cut from a package of documents freely available on MB Trading's ...

Becoming A Commodities Broker? Series 3 License

Worst Case Scenario... — Over the past 11 months, I've experimented with different time frames and styles. These have also produced different winning trade percentages. Even with a winning trade percentage of 60%, you will likely have a losing ...

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

Misc Trade Tidbits... — At this moment, for this journal, I'm trading $2 a pip, 2 minis on the EUR/USD with a max stop of 8 pips (including spread). The account started with $1000, I was trading this level and higher on a $2500 account and ...

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

Scalp management... — I try to sort my trades into three groups, from a profit and risk management perspective. This is active while I am in the trade. 1. The trade goes your way almost instantly, (30 seconds or less) and never goes negative ...

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

Day 4 — I had more screen time today, about three hours. It did not result in more trades, it seems I was more selective today. My chart from today shows the "Worst Missed Opportunity", I was trying to play a bounce from the psychological ...

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

In the past 3 months... — In the past 3 months, EUR/USD action both in December and January/February has provided a extreme downtrend which has blown apart many martingale and grid traders. It happened in December and many were saying "wow, ...

Analysis of Martingale

Order of importance... — No chart today, it was pretty quiet afternoon, I traded from 1 PM to almost 3 PM EST. Just a few pips profit, gave some back after a small breakout on the 1 min chart, when I was trying to play a range. On the 1 min ...

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