My Journal - Pathways to Improvement

[Forexmospherian]

Another scalp sell at 1 30 pm on UCad from 3135

Got to admit UCad been very nice - and normally I would not scalp it that much - spreads over 1.3 pip so thats one reason

 

[sun11]

No problem

In fact I was looking on your chart and can see the one you have marked was another scalp buy from 12 39 pm and then a repeat at 12 51 from same level - ie the interim supports at 3118/20 area

I was had popped out so not here to take either of them - but will post my chart to you can see if your 3 LRs are at least matching my fast ones

This chart gives some great UCad scalps from after 11 00 am UK time

With regards to entries - try and be in with 2 to 4 pips of a interim low or high level - eventually you will get within 1 to 2 pips - but like anything - it takes lots of practice and improved skill levels to get there - and even then you will never nail every scalp at the exact price and time to the second of the turn ( maybe Major M does nowadays

UCad over 2 hrs - 5 scalps possible and easy 50 pips - with no stop needed over 3 -4 pips

See time and levels etc

Thank you for the explanation. I think I understood what you meant.
Today I made many losses. It seems like I have entered during a choppy zone. Not trading this hour, specially GU & UCAD, both are in range.

 

[Forexmospherian]

Thank you for the explanation. I think I understood what you meant.
Today I made many losses. It seems like I have entered during a choppy zone. Not trading this hour, specially GU & UCAD, both are in range.

Have you found it difficult to exit trades under 3 pip losses ?

Dont worry - its normal - all part of learning scalping and the disciplines needed

Once you get the timing correct -matched with time/ PA / Lrs etc - it will then all come together

 

[Forexmospherian]

....and f's crown he wears is much larger than that ..........

lol

 

[sun11]

Have you found it difficult to exit trades under 3 pip losses ?

Dont worry - its normal - all part of learning scalping and the disciplines needed

Once you get the timing correct -matched with time/ PA / Lrs etc - it will then all come together

To be honest, exiting with 3 pip loss is not a problem for me.
Problem lies in with TP. TP is not always reaches, I close early, if see changes in PA. So R:R little down here. That's why having around 50% win rate today under such bad performance, balance is still negative.

I will be closing today. I will be making some notes. Will also share some screenshot of past charts for your review.

Till then GdNight!

 

[darktone]

Hi Pat,

If I put someone in my ignore list, will he/she unable to make post my thread??

I'm kind a new with this.

No it just kinda blots out their posts.

Settings > edit ignore

If you accidentally land here and check the 'use invisable mode' box your in the wrong place.

Common error here on T2W

 

[darktone]

Yes you are right this, using non ECN broker is a disadvantage as a scalper.
But Unfortunately I have to deal with it.

OTC, ECN, doesnt matter. itspossible, just have to show them whos boss like F did and demand a better spread, its in his thread somewhere.

Thank you for your time for making the chart.

Pleasure was all mine

 

[itspossible]

Hi Pat,

If I put someone in my ignore list, will he/she unable to make post my thread??

I'm kind a new with this.

sun11-i would not ignore anyone or place them on such a list.Listen to everyone and draw your own conclusions.Keep an open mind

 

[Trader333]

This thread has now had all off topic posts removed and any more will be deleted.

 

[Forexmospherian]

To be honest, exiting with 3 pip loss is not a problem for me.
Problem lies in with TP. TP is not always reaches, I close early, if see changes in PA. So R:R little down here. That's why having around 50% win rate today under such bad performance, balance is still negative.

I will be closing today. I will be making some notes. Will also share some screenshot of past charts for your review.

Till then GdNight!

View attachment 195766

Hi Sun

Looking at your latest 3 LRs on the UJ chart

I think the setting look ok - might need just a little more fine tuning but nothing too much

The nice feature is the change in colour of LR's as they turn up or down - but not so keen on the time logs - needs to be more accurate or use a separate stop watch or clock.

Unfortunately it might have been too late for you after 3 00pm UK time - but after then for next hour - it all kicked off - great moves on GU / AU / UCad and even the EU -

Normally its busy after 2 00 pm UK time to 4 30 pm or so and then a lull again. Today it started later so main key period today have been after 6 00 am to approx 9 am - then after 11 30am over UK lunchtime and then 3 -4 pm

In between you do get the slow teasing times or BTTZ as I call them and so this may have caught you out today.

With regards to your target profits - aim for 5 + pips but dont worry if you have to take only 3 pips - still better than a 3 or 4 pip loss. We will be keeping you in trades longer once we have you used to timing and scalping interim highs and lows etc

Review every say 4 trades and then stop for say 15 -30 mins and see what went right and what you got wrong. Try for over 15 --20 scalps over 4 -6 hrs but if you only did 8 and got them all as winners - then still good. If you do 25 trades and get 10 wrong but still have 5 good scalps over 7 or 10 pips - then you should still have a profit - its all correlated to keeping your losses as low as possible and improving your time readings every day

Sorry if it might seem a boring on going task - but thats trading really - it does get easier when you have it all sorted and you have your own routine / method and consistency . My son is learning to drive a car atm and thinks its really difficult having to do so many multi tasks at same time. I am sure in another 3 or 6 months or after he's passed his test he will think its dead easy - thats a bit like trading

Regards

F

 

[sun11]

Day 3

Hi F,
Good morning,

As you mentioned about time log, I can remove the first one. But keeping the london time on the chart is helpful for me, because I'm from different time zone. So easier for me track down with your said timing.

Now the chart looks clear. Let me know what tuning you required.

About trading its not boring for me yet, rather little of bit scary now..:innocent:
But hope with time I will get somewhere.

Good day...

 

[Forexmospherian]

Hi F,
Good morning,

As you mentioned about time log, I can remove the first one. But keeping the london time on the chart is helpful for me, because I'm from different time zone. So easier for me track down with your said timing.

Now the chart looks clear. Let me know what tuning you required.

About trading its not boring for me yet, rather little of bit scary now..:innocent:
But hope with time I will get somewhere.

Good day...

You will Sun

There is no pressure and please feel free to go at your own pace.

If you dont see a set up on any pair for 30 or 60 mins - dont worry - just wait until you see the necessary clues etc - this will improve your focus and understanding of how price moves etc

Have a good day and will pop in as and when required

All the best

F

 

[sun11]

Here is one example chart with good crosses & bad crosses.
Within 110+ minutes in GU. I saw 6 good trades with 3+ pips profits.
But unfortunately picked 2 bad crosses & 1 good crosses.
Every time candles closes back inside the cross with engulfing PA, closing the trade.

 

[Forexmospherian]

View attachment 195838
Here is one example chart with good crosses & bad crosses.
Within 110+ minutes in GU. I saw 6 good trades with 3+ pips profits.
But unfortunately picked 2 bad crosses & 1 good crosses.
Every time candles closes back inside the cross with engulfing PA, closing the trade.

You are spotting them Ok and now Its a case of filtering and timing

I think this is the next area for me to concentrate with you

Do you have you entries for the 6 trades along with times so I can assess more etc


Regards


F

 

[Forexmospherian]

You are spotting them Ok and now Its a case of filtering and timing

I think this is the next area for me to concentrate with you

Do you have you entries for the 6 trades along with times so I can assess more etc


Regards


F

Hi Sun

approx 2 30 pm UK time and maybe a full day over for you

If you can let me see some of your entries and times etc on some trades from yesterday and today - I can then see more of how you are doing with timing etc

At your leisure

Regards


F

 

[be-positive]

Hi Sun

approx 2 30 pm UK time and maybe a full day over for you

If you can let me see some of your entries and times etc on some trades from yesterday and today - I can then see more of how you are doing with timing etc

At your leisure

Regards


F

sun do use all a favour and show your tutor how to post a nice clean /clear chart ( sorry pete could not help myself) lol

 

[sun11]

Hi F,
I haven't took all the 6 trades was studying past charts. But as I mentioned, I took one good move & rest are 2 bad moves.
Last day results was pathetic. I was loss around 40+ pips.

Today its lower now -24 pips. Last trade on EU was in loss. Attached screenshot. But eventually later it moved up eating my SL. So I re enter again & made profit.



Today statement:

Today Highest Loss: 5.8 pips
Highest profit: 4.8 pips.

Some more with recent loss.



Looking for your view.

 

[Forexmospherian]

Hi F,
I haven't took all the 6 trades was studying past charts. But as I mentioned, I took one good move & rest are 2 bad moves.
Last day results was pathetic. I was loss around 40+ pips.

Today its lower now -24 pips. Last trade on EU was in loss. Attached screenshot. But eventually later it moved up eating my SL. So I re enter again & made profit.

View attachment 195888

Today statement:
View attachment 195892
Today Highest Loss: 5.8 pips
Highest profit: 4.8 pips.

Some more with recent loss.

View attachment 195894

Looking for your view.

Hi Sun

thanks for the information - i can work on that

Now immediately can see one of the problems

Looks as though you are setting up fixed targets and fixed stop ??

Need you to change that

First of all set your fixed hard stop out of scalp range - ie over 10 or 20 pips

The plan is - thats a safety net - not to be used - only if an emergency.

Now - no fixed profit targets

Keep everything flexible and fluid

Use one click in and out for entries

take a scalp trade and then baby sit for the duration - should be say 1 to 15 mins max

come out over 3 or 5 or 7 or 10 pips - you chose by reading the price action on a 1 min candle/ bar chart - but let it remain fluid - not a fixed number

If after entry your move does not go your way - up or down but goes 3 or 4 pips against you and does not look as though your entry point was the best - just exit - asap- dont wait for a 5 pip stop.

For now it a case of still getting your timing on entries correct

Please tell me your spreads on the 4 pairs you are working on??

Also what was total number of trades yesterday and then today ??

Regards


F

 

[sun11]

sun do use all a favour and show your tutor how to post a nice clean /clear chart ( sorry pete could not help myself) lol

Does it helps?
UJ

 

[be-positive]

Does it helps?
UJ
View attachment 195908

:cheesy:yes hope you enjoyed kiss video now deleted