back to your question about trend - I certainly don't know the best way to identify a trend but a simple way is to use moving averages.I've used 9 and 21 emas before. So price above the 9 which is above the 21 defines the trend as up. I tend to look ...

the most secure 5 pip scalping system

Your position shows a profit

the most secure 5 pip scalping system

first let me say that where to take profits is a much harder decision than entering or taking a stop and whatever you do is going to be wrong some of the time. If you keep a spreadsheet of what happens after you exit you should get an idea of the ...

the most secure 5 pip scalping system

You are worsening your r:r by taking profits so soon. You would do better in the long run, by adding to your position as the market proves you right.

the most secure 5 pip scalping system

Yes you might capture 30-40 pips but each of those entries you needed to risk 10 and could easily have been taken out by the noise. A 10 pip retracement in the Euro is nothing, just noise. I'm not suggesting you change your system if it works for ...

the most secure 5 pip scalping system

Out of a 90 pip rally you'd be happy with 10? Any good trader is going to buying and adding on the climb. When the momentum is strong and therefore making money easier, those are the times that you need to be pushing to make the most money. Put it ...

the most secure 5 pip scalping system

If you mean trade after the news - then sure, possibly not for a few mins if its an important release like NFP or FOMC because price can really bounce around. You have to trade when the market is moving, if you wait until it calms down then the move ...

Ridiculous Trading Myths

Don't listen to anyone who says you can make money trading for 2 ticks on ES. After cost if you make 2 ticks then you make $20 but if you lose 2 ticks you will be -$30. So your breakeven win/loss is 60%. In fact it is worse than this because the ...

How to scalp small pips?

A good day trader should have >50% winning trades and probably over 60%. If you make 4-6 small trades / day, that can easily translate into 80% winning days, a few losing weeks and basically no losing months. Very few people have the knowledge, ...

$1000 to $1,000,000,000 in 4 years

I don't think she has a book yet but Denise Shull is good. Probably better than Mark Douglas - which is I thought was ok. There are a couple of free webinars on http://www.traderkingdom.com/experts/90-denise-shull

Best Trading Psychology Books

One thing that is never mentioned when talking about divergence is that divergence is only obvious after the fact. If a market is coming down to re-test a price you are nearly always going to get divergences because of the way the indicators are ...

Help regarding MACD, Stochastic, RSI & Divergence

this is with hindsight as I didn't trade this but its the kind of thing I would look for. After Euro clears 1.3972 its obviously going up. So the next step is to look for ways to get long with defined risk. Notice that the market pulls back and then ...

How to scalp small pips?

Buying the first pullback after a breakout is a common way to trade. Pattern failures are normally good for scalps too, as you get lots of trapped traders who are forced to get out.

How to scalp small pips?

scalping is all about developing a feel for a market and the only way to do that is by watching the market trade. Don't read any books on TA they are not relevant to trading on this timescale - although some of the market profile information is ...

How to scalp small pips?

An edge is simply your advantage over your competition (other traders). Your edge could be experience but there are lots of people on FF with experience, just it is experience of doing the wrong things, so that by itself is no help. Your edge might ...

Is 90% of TA useless?

Its easy to tell the difference between an M5 chart and a daily chart just look at the relative volatility. How many large range bars do you see on a daily chart? Rather than thinking about time frame - which is arbitrary. Think instead about the ...

1h 15min 5 min TF difference

5% per day compounds $1000 to $218M in one year. That sounds like a reasonable objective to me.

What Defines a Good System?

Anyone who gets a buzz from trading is always going to have issues with the discipline needed to be consistently profitable. You'll be tempted to take marginal trades just to be 'in the action'. For most people on FF trading is a hobby not a ...

Should I throw in the towel after being in the negative for 10 years?

This statement is true but misses the point of why you should do it. If the system was profitable using 80 days but only half as profittable at 75 and 85 then you have by chance curve fitted. The same goes for the 20 day holding period rule. The ...

How do you gain, and measure, your trading system's statistical edge?

in my view the short trade at resistance occurred earlier (where the blue arrow is) and worked. After the first test I would not be take the next test because price came back too quickly and did not get anywhere near to the lows ie no follow thru on ...

How do you trade support and resistance?