Example Trade — Here is a trade I took this morning in the chat. I only targeted +20 pips, but many traders who strictly followed the rules made a lot more. Good trading today everyone.

Powerful 1 Min Scalping System (Fx Prime)

Hi zmskyj, CD alone knows why he choose these time periods, but I'll take a guess :-) 34 is a fibonacci number that was a popular time setting used by Bill Williams. 170 is 5x34 (some people believe that the factor of 5 is important in the markets), ...

Powerful 1 Min Scalping System (Fx Prime)

Hi CD, Even though I trade the EUR/USD exclusively, I begin every trading day by taking a broad look at the whole market. If oil prices are soaring, it will negatively effect the dollar since we are so oil dependent, and if people are selling ...

Powerful 1 Min Scalping System (Fx Prime)

deang001, Nice observation, and I love the "nest" analogy. :-) Your explanation is a great example of how to combine a technical setup with an understanding of basic market mechanics. I hope we have more great post like this to follow.

Powerful 1 Min Scalping System (Fx Prime)

This thread is an example of one reason I have never been able to share my methods publicly on a forum. There is nothing wrong with the trading method introduced in the first post of this thread, but the discussion quickly turned to, "which filters ...

Powerful 1 Min Scalping System (Fx Prime)

Artov, CD will better be able to answer your question, but to me it looks like a failed signal. Core CPI is comeing out in 15 minutes, so price is most likely consolidating before the announcement. I would sit on the sidelines until after the news ...

Powerful 1 Min Scalping System (Fx Prime)

Hi DC and fellow FX Prime followers, I don't normally try other people's trading systems (I find that it is easier for me to follow my own rules), but for some reason or another this peaked my interest. Here is a trade I took this morning using this ...

Powerful 1 Min Scalping System (Fx Prime)

Final Update — Well, trading for September has ended, and so has my forward testing. I am happy with the results and the rule set that has emerged from it. This month the system ended with around a 7% gain with less than 2% drawdown. I am ...

Arthcub's Day Trading Journal

Well put.

Admit it - your profits are based on luck

thefreedictionary.com defines "gambling" as "An act or undertaking of uncertain outcome; a risk." With this broad definition we could conclude that all business, relationships, or any other endeavor that included a risk of success or failure is ...

Admit it - your profits are based on luck

I think people tend to fear or hate what they cannot understand or control. There are certain modifications that are necessary (both in technique and mindset) to trade shorter timeframes, but for the most part, I use the same setups on the 1m, 5m, ...

Why Indicators will help you

More Examples — Here are two more sample trades. Notice how the horizontal lines were broke on both the price and the CCI. Remember, the extreme levels on the CCI have more significance. The first trade was worth around 30 pips, and the second ...

Why Indicators will help you

I only concern myself with the timeframe I'm trading on, so if I'm trading the 5 minute chart, I don't worry about what is happening on the 1 hour. The main method I use for determining trend is through the breaking of fractals. If a fractal is ...

Why Indicators will help you

Trading with Indicators...an Example — While I have some time in between trades I thought I would share an example of how you can use indicators profitably. In the example below we have obvious upward momentum (price remains mostly above the ...

Why Indicators will help you

Here, here!

Why Indicators will help you

Well said, Guess121. On the surface it sounds like such a simple thing, but in practice it can be quite challenging. One mistake can easily give birth to more mistakes. I have found myself in a situation where I made a mistake like hitting the ...

Mindset Mindset Mindset!!!

I believe this is a poor analogy. The use of indicators is no more elementary or less complex than price action patterns. It is simply applying the same skills to a different element of trading. In fact, it's my opinion that learning to trade price ...

Why Indicators will help you

Using Indicators — Technical indicators can be excellent visual and mathematical tools. Here are some of my thoughts on using indicators: 1. Trade in the same direction as the market momentum (trend). 2. Divergences can signal potential ...

Why Indicators will help you

September 23rd update — I apologize for my laziness in posting updates. Here is where I stand since last Thursday. Friday I took 3 trades with 2 losers and 1 winner which resulted in a .31% loss. Monday I took 2 trades, both of which were ...

Arthcub's Day Trading Journal

I'm interested to hear why you consider 6 trades in 1 day to be a lot. Granted, I don't always take that many, but when trading for 6 hours on lower timeframes (1 and 5 minute), I think 6 is a reasonable number. Today I was mostly scalping since ...

Why Indicators will fail you