So I guess the moral of the story is that News can be majorly annoying when working purely off a chart. I guess this is part and parcel of trading though. Not much that one can do when such a random comment crops up?

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Ahh hah...I think I see sort of where you are coming from now. Man, I wasn't paying enough attention to the daily time frame. I'm going to try to scalp during the evening (AUS time) and then enter some long positions with wide stop loss so that I ...

EURUSD

i think i spoke too soon

EURUSD

Well I'm looking at the 1.59045 level. If it breaks this level then I think it is safe for 11pips down IMO. Then re-asses the situation at that point. Currently I am short but that is only because I had a signal a few hours ago to go short. So I'm ...

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got to wait for our New York friends to help us get out of this sideways movement

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here come the bears

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totally agree with you guys. It isn't easy scalping at the moment. I'm with an open short position at -16pips. The resistance level there is what punched the bulls in the head lol. (temporarily)

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I'm a scalper. At this moment I'm getting ready to go short for 10-11 pips. I need to wait until I see more confirmation that the direction will be down though.

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Thanks for the reply. This is interesting what you say. I will think more about this

If the world goes into recession, what happens to trading Forex?

might have to wait until the new york open for some additional action

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Many thanks for your response. I guess I was just curious to know what would happen in the worst case scenario But yeah, what you say sounds a lot more plausible now that I think about it.

If the world goes into recession, what happens to trading Forex?

my scalping method did not work very well today because it just felt too tight. I like to grab a few pips here and there but it kept running into resistance either bullish or bearish. Earlier today I was up 77 pips...I was foolish to continue ...

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i stuffed up today...i think i'll break even but that's about it...bah...

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I guess when it is all said and done, you are correct. I'll focus on the edge and money management first and then change brokers if I have to. Thanks for the response

Is 30 trades in 6 to 8hrs considered to be scalping?

Yeah you make some good points. I guess that's what testing is all about though. Need to try different things and see how they go. Anything is possible as you point out.

Is 30 trades in 6 to 8hrs considered to be scalping?

well i'm still working on it. I don't know if it will keep on working. It has worked the last few days I tried. Anyway I base it on support resistance, fib retracement, and candlesticks. I know that sounds vague but honestly that is about all that I ...

Is 30 trades in 6 to 8hrs considered to be scalping?

Yeah so far, so good but still need to do a lot of testing. I guess the why change comes from me reading a lot of horror stories about slippage. It might be a problem to my scalping strategy but I can't be sure until I open up a small account and ...

Is 30 trades in 6 to 8hrs considered to be scalping?

I was just curious but what do you mean by sitting bull? I'm prepared to go long and short whenever possible. I don't just go long if that is what you mean by 'sitting bull'?

Is 30 trades in 6 to 8hrs considered to be scalping?

Many thanks. I plan to test my edge out for 3 months and then open up a $1000 account and then trade tiny amounts for a few months to see how I go. Then I will increase the number of units I buy and put in an additional $4k into my trading account ...

Is 30 trades in 6 to 8hrs considered to be scalping?