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Went L @ 1.3623.

Long term is likely easier. But I simply like challenges. :D Nothing stops one from both scalping and longer term trading.

Also related to the whole thread: all depends on the measure of "success". I would never recommend a newbie to start trading career with scalping. Long term (best of all, based on macro economic cycles) trading/investment is way safer and odds of becoming profitable are higher. From the...

Yes. Agree again. It's hardly possible to scalp Euro (which I mostly day trade) with any significant size, it starts to slip and some other restrictions appear. So scalping can be good income source, but big $ is in big, longer term moves.

Just personally for me, being a scalper "consistency" has quite specific time horizon. Down week is already bad week in my view. :) But from the other side I fully understand that accumulating a single position, which would make millions is hardly possible due to liquidity reasons, nuances of...

Yes, of course. I absolutely agree with the Pareto principle you pointed out. And by "consistency" mean ability to come out profitable in the long run, after a series of many trades, in a way that your profits can't be attributed to luck, but rather to the true edge you have.

I would say "consistent discipline" is what makes consistent profits.

Focusing on becoming consistent first though, without thinking about making the most money, can greatly improve one's chances to make any profits at all in the trading business. If one thinks more about the money than about becoming good consistent trader he/she likely fails. Would athlete...

German factory orders went out worse than forecasted, pushing Euro further down.

Done trading for today. Here's an example of successful setup from the session we just had: http://www.cornixforex.com/2011/02/trade-example-from-todays-session.html

Bailed it for +1 pip, don't like the shape of 5min price action.

Long @ 1.3601.

Bailed short for +7 pips.

Thanks Athlon, nowhere they can hide from us, those pips! :D

Shorted @ 1.3618.

WTG.

Yup. For sure. :D

Europe hasn't waken up then yet and mush killed the trade. Oh well, losses are normal part of our business. :)

Your long is looking good.

She noised me out before real dump... :)