Sounds to me like you pretty much have the hang of it my friend. Good luck.

Simple Scalping

Nice one. Remember the FOMC stuff in 2 hrs could create some big moves.

Simple Scalping

It doesn't do any harm to look at the higher TFs to get a feel, but just bear in mind that we are only taking small moves. It's easy to look at the H1 chart and think its overbought/sold and dismiss the trade whereas a move of 10 pips in that tf is ...

Simple Scalping

Had a day trading a basket of currencies using this method and it just doesn't do it for me. I lost 1.3% on the balance and I felt I had moved away from what makes the method consistently profitable. When I watch 1 or 2 pairs and bide my time, I ...

Simple Scalping

Been a bit busy with other business so far this week. I've just created a trade explorer. It goes somewhat against the grain with me to share trades as that is each our own responsibility. But I am going to live forward test this method on a basket ...

Simple Scalping

I plot my levels on M15 if possible. I don't trade off those levels.I use them to prevent me trading into them. So far as when I consider them no longer valid,,, It depends on the TF; Below the orange line represents support. Its on the M15 chart so ...

Simple Scalping

I set up the S:R lines at the beginning of the day based on M15 ( sometimes the level isn't evident on M15 but is on M5) immediately above and below the current price scaling down to M1 to refine the price level if possible, and then periodically ...

Simple Scalping

Don't get me wrong, I'm not poo pooing automation.It makes life a lot easier in helping identify opportunities. I'm talking more about EAs that trade for you.

Simple Scalping

A bit more complex than this but essentially it goes as thus. Me and a mate of mine, a junior trader with a London hedge fund, first discussed this a number of years ago. Basically the market will ALWAYS move in the opposite direction to the ...

Simple Scalping

I think its more a question of patience. If a trade isn't good value, wait until it is. That's all. You don't HAVE to take the trade. This week I'm starting to trade a bigger basket of pairs (in order to forward test the method on different pairs on ...

Simple Scalping

It really isn't as easy as that. I may only take a couple of trades a day. I watch for opportunities whenever I have time to sit at my computer. It's completely subjective. A setup will occur and it just feels/ looks right. But I always follow the ...

Simple Scalping

The MA is easy. Just look at the table that comes up when you apply it to your chart. S/r is more complicated. Download the book BSfilter added a few posts ago and read it. It's quite straightforward. Good luck.

Simple Scalping

Hi. Sorry, I maybe haven't explained the whole "gap" thing very well. Forget about gaps that occur during the actual movement you are trading. The gaps I am talking about are ones that occurred in the past that had yet to be revisited. If you are ...

Simple Scalping

No, that's fine. The "3" bar doesnt have to break the low of 2 (although its preferable),all we're interested in is the gap between the low of 1 and the high of 3. The gap has left long traders behind meaning itwill provide some sort of supply when ...

Simple Scalping

I agree. Its just that in the past, I've gotten into the habit of looking at those higher TFs and thought ,I'm not buying/selling into that, its way overbought/sold when, of course, overbought/sold just means theres interest. Hope you catch some ...

Simple Scalping

You could be right. But of course, daily trends don't really concern us. In fact, if you look at your example when the last times it was overbought/sold , the trends carried on.

Simple Scalping

Go down to M1 if you need to. More often than not you'll identify a gap on M15 (or any other TF for that matter), but the M1 in the same period will give you a much more accurate price.

Simple Scalping

The "buff" gap was set on the M5 chart and wasn't evident on the M15; In any case its now been well and truly broken! Bear in mind, the M15 level you identified was created today.It was filled within a couple of hours. You need to be thinking will ...

Simple Scalping

That's down to your judgement. I rarely look for many more than 10 pips ( all 3 of your trades gave that up , although the USD/CHF was a touch buying into R). Sometimes I catch hold of a nice move and get 15 or more, but that's just good fortune. No ...

Simple Scalping