Hello, traders!!!! This is my first time here, and I want to say that after countless hours spent reading through many different threads, forums, rooms... I found group of smart, diligent traders that have same desire to grow as traders
and as personalities and help others at the same time. I can't brag much about my success as a trader, because I can't prove it with my financial statement, but I have huge desire to learn my new (and I hope last ) profession in my life.
I am looking forward to working and learning with You guys. Thank You Big Mike for making this happening!
The following user says Thank You to TolicG for this post:
33 days I've belonged here so time to participate. Really wanted to take hours to poke around the site first, but haven't had time to do that. Everything looks promising though. Quick look around a few threads and it seems like the loser/troll factor is near zero. That in itself will keep me around.
Heard about this place when someone posted a link in the MTG (Master The Gap) trading room. Glad I pursued it.
My name is Andy and I'm an Aussie that has been living in London for 13 years.
Started my trading journey about 2 years ago.
I was initially drawn to trading by a friend who was trading FX. I tried that, didn't get killed, but didn't really get it.
Since then I have tried to really simplify my trading. Now I primarily trade the eMini S&P and just use 3 simple, non correlated indicators. I have come to realize that for me I needed a simple system that I could test and verify.
I am also really interested in Binary Options and Binary trading in general.
In my view people generally try to be too greedy and that is why scalping does' not work'.
To be successful, find your self a set of Indicators you are confident in, work out times when volumes are high enough to create the strength of wave, usually European open (7am GMT) to 30 mins after London open (8.30am GMT). Make sure that the currency pairs you choose move at least 40 points on a regular basis. Go for short points (up to 15) I have three strategies, 2,5,7 points, 4,8,12 points and then 5,10, 15 points and use them on different time frames. 3 min, 5 min and 10 min. And if you can automate it even better. The trick is not to keep going. Set your goals, ie 8 trades at 15 pts etc and STICK TO IT. On longer times frames, when it becomes speculation not scalping (?) do the same, go for 20, 30 and 50 pts rather looking at that wonderful down/up wave that could have made 150 points. By limiting your targets, you can increase contract value and keep your stop tight.
Caveat - make sure you avoid the times of economic news releases unless you know how to trade them properly.
Hope that gives someone else ideas - or encourages those out there with successful 'scalping; strategies to share them with all of us... Sure someone will disagree with this but hey ho, thats what makes life interesting, we are all different and should find a way that suits our own personality. Now where have you heard that before?