scalping eurusd

cvds16 said:
the answer is yes to that last question ... I have a system now and it restricts itself to the hourly ... I just got to be patient for the right setups to occur ... I do want to make money but 'wanting to' isn't enough as such ... you need an airtight method for it to be on an steadily and continous basis.
I had several hypothesis and with all your questions you helped me clear my head and learned how to express these 'would be could be' scenario's better untill I finally can say I have a system. That wasn't the case last week ;-) What better way to start a new year :)
More...
I'll leave you to your experiments.
All the best today!
 
fucking mad at myself for missing the obvious short at 08:00 CET while stochastics AND ema20 was clearly showing it. I will go long at the end of this hour if it engulfs (no more jumping the gun with signals; that burned me allready twice today :((( )
 
I don't get easily mad but this time I am disgusted by myself ... pure idiotic trading at it's best :( Went long 1.2023 targeting 1.2150. Kelly rightly called it 'experiments', nothing less it is ... when will I learn to stick to the charts at hand
 
This is how I analyse. you might agree / disagree and that's up to you.

You need to look at big picture.
the day to profit from eurusd was on 29 dec and 2 Jan.
If you failed to profit massively (say > 50 pips) from these 2 days, you are taking unncessary risk by trading on 3 Jan.

On 3 Jan, there is a reversal down signal at 304pm, UTC+8.
you can get decent reward / risk ratio of 2:1, ie about 25 pips but I doubt you can stretch target profit.

Also if you look at the whole European market on 3 Jan, not many futures are moving except eurex btp and energy futures.
 
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