Smart move!
scalping eurusd
- Thread starter cvds16
- Start date
Smart move!
Another smart move.
This is not "scalping" --- Scalping is trading for minimum ticks only.As from ruesday (I live in Europe) I am going to start an eurusd journal to keep me alert and disciplined. I have been working hard on a new system. It use multi-timeframe: 10M, 15M, 30M, 1H, 4H and daily. I mainly use price action in combination of a few indicators. I got ema20, ema50 and ema200 on all my charts + stochastics (14,3,3) + ATR(200). This last one I multiply by 1.5 to calculate my stops.
The intention of my trading is as I like to call it 'taking the meat in the middle' so I trade mainly with the bigger trend although countertrade can happen. I like to look for divergence setups in good combination of price action. The idea is to aim for zero losses (yes, you read that right , I am not joking). I am using Tickmill UK as my broker which has 0.1 to 0.2 pip spread in eurusd. Sometimes the spread even falls zero. They only ask a tiny commision for this 4 usd per lot. I won't be giving away how I trade exactly so don't ask (it took me over 10 years to finally get it, I am not going to give the keys to the castle away for free). I will be posting my trades though and maybe you will find the reason in your own charts ...
Somting about me: 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. Not that that has been a great succes so far. Luckily I had the idea of keeping trading small as long as I didn't have a clear set of rules. But even then I bleeded money (in small amounts) over that period. Since then I have been trading eurusd for most of the time (I did a few jobs too in administration). Due to having health problems I won't be working again in the near future 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
You must have meant 1.19569.
Only 6 pips of profit for now...
I will probably reenter a long position after the pullback.
yes, of course, you are right about that
A good day to trade US pairs. GU, NZU on daily, EU, AU on weekly key resist areas. Usdchf on weekly support area too. I expect US dollar to gain strength today. Hold long in Usdchf and short in AU. Others I am waiting