scalping eurusd

Trying to find a method that works for me ... I should idd restrict my trading to the european markets and at this point in time trade with the trend.
 
cvds16 said:
I used to be index floor trader in Amsterdam about 25 years ago not that that was a real succes. I later become on of floor trader in options and futures trading mostly on feel and some charts. That went initially well untill I lost my touch. Ten years in the financial world I switched to option arbitraging by being a kind of market maker in options quoting one side markets in the DIA in about 20 to 30 series of the first two months. I used an option model that I had programmed in Visual Basic into Excel and kept track with that of my positions and my Greeks keeping things neutral as much as possible I was basicly buying options below theoretical price as I saw it and selling them above theoreticcal price. I had a way of adjusting my guestimate of vol with skew along the series. This was incredibly profitable: I guestimate over 90% of my trades were profitable and I made 500 to over 1000 USD a day. Losing days were no more than 2 a month and even then it was something like 50 USD (this only happened on days when vol used to move in a spectacular way. However that too came to an end when Interactivebrokers started to charge for options cancellations. I used to send about 1000 quotes to the market and of them about 800 were cancellations/price adjustments.
In 2007 I started to trade eurusd...and turned my trading eurusd into some kind of hobby. I finally seem to have made some breakthrougs in understanding price action so let's put this a bit to the test in my journal :)
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My ignorance is vast, so I’m not clear on what about 99% of what you wrote here means, but I do find it absolutely fascinating how someone with experience as an index floor trader, as a floor trader in options and futures, and as a pseudo/quasi market maker in options; with ten years experience trading EURUSD and breakthroughs in understanding price action, seems to be struggling so with a plan to “trade mainly with the bigger trend.” Best of luck to you though, my good man—I do feel for you!
 
yes, you (and others) finally got the message through: trade with the bigger trend ... I adjusted my setups for this ... as a former market maker in options I was de facto a mean-reversing trader ... that however doesn't work in directional trading unless on occasion as an exception to the rule ... but I got my stochastics divergence for that and shouldn't try to go against the trend untill that one shouts at me ...
 
this kinda of feedback (although not really expecting it) is the reason I started this journal ... so far I am satisfied in that part and appreciate it ...
 
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cvds16 said:
another big mistake I made over the years was trying to trade on tf's below the hourly ...
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That's interesting.

I love trading off one-minute charts, even though I’ve read again and again that this is impossible to do (“you're just trading noise” they say), but I find that it enables me to: (1) time precise entries and exits that get me in and out at the initial formation of trend reversals; (2) maximize my gains, (3) avoid head fakes/false positives; and (4) resist the temptation to try catching “falling knives.”
 
yes, I heard other people trading these smaller tf's with succes, so I do know it should be possible but it's not for me, I seem to be losing my senses when I go too small in tf and getting impulsive/emotional in my trades and not in a good way.
 
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