Re - Tomorrow - Friday 24th April
Will be trading in the morning and hope to do an update -
but got a few jobs to do before 11 00 am - so
might only be in and around for
an hour or so .
The fact that I have been accused of not giving enough
detail ( ie comment - check the detail - there is none ? ) i will tell you in advance scalp trades
I plan in advance that
should take place at the following times in the morning on the following main key pairs -
EU - EJ - GU - AU - UJ - and
depending on volatility - UChf / NU
as well.
Key times - I normally scalp at -
6 21am -
6 30 am - 9m
6 39am - 9m
6 51am - 12m
7 00 am - 9m
7 09 am - 9m
7 21 am - 12m
7 30 am -
7 39am -
7 51am -
8 00 am -
8 09am -
8 21 am -
8 30 am -
8 39am -
8 51 am -
9 00 am -
9 09 am -
9 21 am -
9 30am -
9 39am -
9 51 am -
10 00 am -
etc etc
I have 6 key times an hour - of which
normally only 2 - maximum 3 are used on a pair per hour all
depending on PA / Lrs / TL's /
Price structure and the 30 min rule on previous interim high and lows from
time of print.
This is complex and cannot be learnt in a few hours etc -
but it works between 70 and 85% of the time
Time of the hour and time lapse on last interim high or low is a key component of my method. (
How does this differ from depending on time of print)
All entries and one click in and out - all stops are soft - I would not wait to be stopped out at minus 5 or 7 pips - all scalps last from 1 min up to say 12 or 18 mins ( yes time window gaps) and then
if probability of more movements in that direction - part stake is left on with stop in 2 or 3 pips of profit.
I will take between 10 and 20 trades tomorrow -
on maybe 3 to 5 pairs and that's
not counting part stake trades then left on ( as they are not new trades )
Targets are
normally 7 -25 pips to earn RR's of over 1 to 5
Soft stops range from 3 to 7 pips - ( 5 pips on average ) on EVERY new trade. Once in a trade and in profit and
also on part stakes then I will allow on trades with say 40 pips of profits pullbacks of up to 35% -
but will
also scalp against my own trades - ie in both directions etc.
I trade not as a bull or a bear - but as a "vulture" - my trends are any movements over 3 pips -
but I don't chase 3 to 5 pip targets - but accept them if I dont get 10 or 15+ pip movements .
Surely thats enough detail for a start ;-)
(That is not detail dude! gobbledegook :-0 :whistling )
AND
For all members who say it does not work - can I refer you to Major Magnum - he probably thought the same until he "cracked" it and it then made sense - and now after putting on over 3000% increase on a demo in a few weeks as been trading on a live account for over 6 months or so - at a more sensible rate I might add ;-))
Good Trading
Regards
F