Thank you very much for the info. What do you think about the Stops, how stops should be placed when you're scalping, and what risk-reward ratio can be used when it comes to scalping.

And any other advices anyone can give me, I would appreciate them very much.

Thanks again.

The easiest way of scalping I've found is to shove a lot on your trial platform, and go from there. If everything else adds up, be quick with a largeish lot, 9/10 works. 5 min confirmed by 1 min, set to 3 min works quite well. Just following 1 min, 3 min and 5 min charts earns good pips. A lot of folk talk about long-term trades, but it seems that's ok to talk about, but in practise our emotions override common sense.

If your scalp works in the right direction, you can always go for a trade, but this in generally infrequent when scalping. I caught a number of trades whn scalping in the past, but should have held some, but am mainly scalping.......once you can put a good stop in front of your scalp, then you can go for a trade.

Yea, i can say thats a good way, i usually keep my eye at i min chart for scalping.

Just to add my 2 cents worth here ... I agree with CodyB when it comes to scalping ... pull up a Macd on the 4H, 1H and 15 min ... personally from here I prefer the 2 min when pulling the trigger ... the other indicators that I use on these Timeframes along with the MacD are 1) PAR SAR on screen 2) simple oscillator on screen 3) bollinger bands on screen and 4) chande momentum oscillator below screen running on the same pane below screen as my MacD ... once You get onto it the $$$ just come in ... often good for at least 20 to 30 pips easy the way these Markets are moving lately. Don't be afraid to Experiment. Cheers.

I only use MACD as a reference, and then not with the standard 12-26-9 bar EMA's but with 5-34-7. For scalping, this is much more accurate I find.

My main 'techs for a scalp are a KAMA (Kaufmann Adaptive, v.fast) set to my own config, together with the MAE13 and MAE25. If all these three cross with the MMA 45 (modified moving average that goes against price), and my DSS Blau Bressert stocks 'K' touches the 'D', confirmed my MACD, then it works 9/10 times.

Then also if you can see a firm break either way of the MEMA 250 5 min, then you know you hold your scalp for at least 2-3 mins before closing out. Some of my best scalps are bouncing off the MEMA 250, and sometimes they can turn into a nice big 30min candle.

For scalping I like to be in profit within the first 30 seconds, or it's not a scalp. I use 2x computers with 4x 28" screens and in the event of a power cut, then I also have my big Dell M2010 laptop with a dongle (battery backup)

Don't try to use R/W ratios when scalping, or you're not a scalper. Scalping is about making a hit with a largeish sum (for me never less than $250,000 as have a reasonable account) and maximising your return in a short space of time. If you hang around too long, and hope that you might get more, then you've generally lost, and then you should only trade.

Stops are like this for me. As soon as I place a scalp, I pull up my card and sit with my finger on the 'fire' button. I generally trade scalps spot. If I want to place a trade, I normally use limit orders with stops/TP's already set.

You could try and scalp with limit orders, but I tried it, and it works ok, but you do miss the best of the scalp when doing so, as scalping attitude should be very concentrated.

Hope this helps a bit.

Hi CodyB

I am suitably impressed with your numbers, and what impresses me most is your win to loss ratio. If I'm not imposing too much, I would like to ask what two SMAs you use and on what time frame you trade from?

I have traded the E-mini S&P for the last few years with my uncle, and our aim was to achieve scalping figures somewhere along the lines of what you are achieving now. We haven't managed it yet, but nor have we suffered any losses. We managed to keep our heads well above water, but we didn't make any serious inroads. Nevertheless, you should be able to deduce from this that I am well versed in the art of patience and MM.

I have now turned my attention to the FX market. After reading the 38 pages (so far) of this thread, I am under the impression that there are quite a few methods of scalping profitably, and I feel it's only a matter of time before I build a decent strategy for myself. But as I've said, it's your win to loss ratio that really impresses me.

I would be delighted if you were willing to share a little more detail, or maybe email me. I'd be interested in knowing, for example, what your average winning day amounts to (in pips of course), what your average winning trade amounts to, and more about your actual trading technique.

Best of luck,

Bobby

This question is for Greg,

First issue is active trader in demo mode has the BID Offer in reverse to your chart snapshot and seems to act in reverse on cirtain pairs only, For example the EUR/GPB seems to go up when the imbalance favors the OFFER? and the EUR/JPY seems to go down when the imbalance favor the BID like i would expect.. Any way im pretty confused by this inconsistency.

when using active trader, what is the best time and pairs to use the imbalance clue? It seems that during the US open the market depth is moving very fast and is often mixed, how do we get around a mixed/flip flopping Market depth? How long does this imbalance need to be present before we know its legit? a few seconds?

also i noticed that the GBP/USD rarely has in imbalance, is this normal?

thanx for your help

Want to learn to stop overtrading? It's simple. Trade only when markets are busy with activity AND trending.

Instead of relying on the published regular trading hours (RTH) for activity, measure the activity of the market makers by the frequency of their moving of bid and offer prices. That's part of the the art of tape reading. Since trends only continue during busy markets, this indicator will keep you out of thin choppy markets.

Also monitors multiple timeframes for alignment, to identifiy market direction as Choppy or Trending. You will have to scan the trends from multiple charts to look for alignment. If the trends don't align, the markets behavior is choppy.

Knowing what time to trade is 90% of the battle. Because if you can stay out of choppy markets, your ability to catch trends will rise dramatically.

Thanks for such tips and hints. Its of great help to me. Yes timings play a crucial part in the trading and any single miss of timings can cost us huge.

__________________
Forex Guide | Market Updates | Forex Strategies

Hi all -- I'm still around. I have been working on some scalping techniques, but I blew up my micro account again yesterday. :-( The problem is my ego, and not wanting to admit I opened a loser -- so I let it run and run and get worse. I got to stop that! :-)

Bryan

Hey! you all have raised a very good point over here. I think many traders think that the more indicators and patterns you use the more profitable you will be. My trading strategies are simple BUT original. I learned through time that the true gems in the market originate from simplicity. This is an important concept, don’t dismiss it.

Cheers

Hi Mike! Yeah, I'm learning my lesson the hard way I guess. :-) Since I last posted though, I've become better at making a gain and then STOPPING for the day. My problem is that I enter "just one more trade" and that's always the one that goes against me and I let it run into a large loss because I am upset that I broke my "stop when ahead" rule.

So I put $200 back into my micro account again and I'm up to about $550 today! yay. Stop while ahead, stop while ahead, stop while ahead....

I agree... I am only using S/R lines, trendlines, along with RSI and SAR. That's it. It seems to be working so far. That, and find the best time of day to scalp (8:30am-9:30am GMT-5 for me) and then don't trade outside that window.