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You are right in one respect , i do trade the same repetitive setup. but as you probably already know , ( Pattern recognition. candles are painted ) if you can see them ,well ,,,you can see them. The set ups are there to see . I am after ( a quick profit, but a steady risk reward, and...

But seriously ,what is a Scalp? I'm in and out in about 4-5 min if a double Fib maybe 15-20. am i scalping?

Currency Trading is a Business, like any profession you study ,learn how the markets work, Then you pick your chosen pair and time frame ,and after XXXX hours of screen time you will see and watch and anticipate the candles are being painted (pattern recognition).

I trade counter trend on xauusd ,trade on the 50 and 150 tick charts ,but have found there is always a second bite of the apple.

Interesting moves on gold my pm, NY am On the lower TF.

From memory i think you mentioned in the past that you use Fibs in your Ta is that correct, do you also incorporate Fibs with pattern recognition?

Ok ,i see your point thanks, do you trade or have you traded gold?

Would you regard a 40 pip win on xauusd small ?, i don't know ,I would appreciate some feed back on this.

I only used to only trade eurusd but now mix it a little with xauusd ,i find xauusd a little quite at the UK open ,so trade euro till about 12 noon uk then watch gold from there.

Hi virtusa, The strategy works, But i still like to see a couple of trades play out, on my pair on the UK open each day before i trade.

What's the biggest challenge you guys faced with day trading? For me, Wondering if the Strategy / Edge I have worked on over a period of time ,adapted and tweaked, back and forward tested will still work in the morning.(next trading day)

Funny answers, you don't need 1,000pages of documents, you just need one pattern/strategy Very true alistera

Rams Fan, You need a forth column with the title (I worked ,I Studied and have now developed my own Edge)

I wont add all the usual caveats, time, News, speeches. It is predicting. But 80-85%

Hi RN, I fully agree with you on all you points apart from (It will not (ever) forecast nor predict future PA)

Hi MTT, Can you explain your post a little.

Experimenting trading xauusd of late, Fibs work as long as you use the right time frames.

You are right ,if your counter trend trade does well not ,, retrace as you expect, many traders will hope (you know the saying). But that is where pattern recognition comes in to my strategy. As well as Pattern recognition Time when and when not to trade.(very important) News Speeches and...

Hi, Maybe i should clarify a little, i am a counter trend trader ,trading Fib retracements so my strategy has an entry point a target and stop, as you are aware i am technically trading against the trend (and possibly)the major trend. So it is not in my interest to try to follow the trend...

As your trading stocks you maybe trading on a higher time frame and that may facilitate trailing stops more efficiently. But I am trading on a low time frame, only trade the eurusd with a tight SL-TP so because i don't trade in the larger trend, trailing stops is difficult. I have in the past...