100% winning scalps

[Gaggs]

I decided to do some scalping this week and I thought that I would keep a record of it here.

I will be using the 5 minute time frame on the EUR-USD.
Basically my goal is to make 5+ pips each trade risking an equal number of pips as the stop loss.
This will give me a 1:1 profit to loss. As in to win at the end of the week I will need to have at least 51% winners.

I will post the trade right after I take it with the entry and the target and the stop loss.

If I have time I will put up a chart after I post the trade.
I will be looking for long tails with a nice amount of room to the left as the main signal to enter the trade.
If the trade goes in my direction quite well I may stay in it for more than the original target.
Yes I know that that will change the 51% winners aspect.

I will use some other signals as entries but will explain them as I use them.

Oh and just so you know the name of the thread is simply a goal!!

 

[Gaggs]

This is an example. This was the first trade that I took.
The signal was the tail in the circle. The red, blue, green lines are labeled.

 

[Gaggs]

I will also be looking at the GBP/USD.

 

[Gaggs]

Went short the GBP-USD at 1.5582 target 1.5575 stop 1.5589

 

[Gaggs]

Chart

 

[Dommo]

Went short the GBP-USD at 1.5582 target 1.5575 stop 1.5589

Dude, your eyes must be watering now if you're in for any size, unless you hit the 5 key once too often.

 

[Gaggs]

Dude, your eyes must be watering now if you're in for any size, unless you hit the 5 key once too often.

You are correct that should all be at the 1.58 level.:cheesy:

 

[Gaggs]

Just came down into the correct level and closed the order for me.

 

[Gaggs]

Missed a nice little long scalp here cause I was away for just three minutes!

 

[Gaggs]

9PM my time will be my cutoff for today. That's in about 24 more minutes.

 

[Gaggs]

This turned out to be a great trade.
THREE MINUTES!!!

 

[Gaggs]

Going short right here for a longer type trade.

Entered at 1.5886. Target 1.5862 Stop loss 1.5912

 

[Gaggs]

Hanging up the trading charts for the next ten hours or so.

 

[Gaggs]

Well I now know that I completely control the market!!
That's right it's me!
The trade I entered last night before I went to sleep went against me only enough to stop me out and then turned and moved right past where I wanted.

 

[Gaggs]

We it sucks that I have to sleep!
The chart here shows on the EUR-USD what I look for first when going to enter a trade.
Long tails.
Not just pins but other candles with long tail.
Looking at this chart I see that I would have had quite a number of trades with only one that would have stopped me out.

Before you go jumping into trades because of long tail keep in mind that i filter the tail with a couple of other factors first.

 

[Gaggs]

Current trade.
I downloaded a screen capture tool so I am now able to show the actual trading screen I use from Oanda with the levels on it already.

 

[Gaggs]

Stopped out of the first one but reentered with new trade.

 

[Gaggs]

Adjusted target by five pips. Stop is the same.

 

[Gaggs]

Closed half of my trade at +10 pips.
Then I changed the stop loss on the other half to just the green side of break even.

 

[Gaggs]

Thinking of getting out here. This would be about +10 pips for the second half of the trade.
It is starting to look like it wants to go back up a bit.