Yes there are short term S/R levels and I actively trade off of them on the 1 & 5 second charts the only difference is you usually will not get the big swings you will get on higher timeframe S/R levels, you usually get small swings but buying in ...

Is it all just noise? (Intraday technicals question)

GFT hits your stop minus the commission, for instance let's say you have a stop order at 100, gft will hit your stop order at 100 - spread.

Why did my stop buy for 209.36 get triggered when the high was only 209.35?

Depends on your trading style, a lot of people rely on candles for different formations to tell them what is going on and a lot of people rely on reading bars PA and things like that. It really just depends on you, your trading style and which you ...

Candles or Bars

I agree, to each their own, I know personally I would never get to the point of being down 30 pips a day, I would have quit long ago

Is 6 pips a day enough for you?

That is correct however I have been trading/scalping for about a year only recently have I added LT's cyrox rainbow method to what I do, it is not the only way I trade right now but it may become that way. You wouldn't go into business without a ...

Is 6 pips a day enough for you?

I guess I should have gone further into detail. I actually have a business plan that I have written that covers every detail of the way I trade, I do update/modifiy it as needed. At first you say I shouldn't have a goal for x pips a day but then my ...

Is 6 pips a day enough for you?

This is a great thread and hopefully a lot will learn from it. What works for one may not work for all, I am a firm believer that to trade successfuly there has to be some degree of discretion else everyone out there would be living off of automated ...

How I found what works for me

I agree 100%, like I mentioned earlier I started this thread mainly for entertainment reasons and open to discussion. One of my strategies used to be a breakout system with limit orders as well it worked well but needed further refining. ...

Is 6 pips a day enough for you?

This is what I am talking about, your method sounds similar to what I do, you should never have 50% drawdown like TDion mentioned earlier. Max loss per trade should be no more than a few pips, taking minimal high probability trades there is no ...

Is 6 pips a day enough for you?

Trading costs me no more than 2 hours a day, I have to find something to do with the other 22 hours.

Is 6 pips a day enough for you?

I almost forgot, I don't have a daily pip goal either. The 6 pips was just an example for this thread. I trade a 2 hour max session each day, whatever the market gives me during those 2 hours I take. Sometimes I make good money within minutes and I ...

Is 6 pips a day enough for you?

The 6 pips a day is just a number, I have been using linuxtroll's simple scalping method and fitted it to my needs. After a LOT of screentime things have been working great for me. I don't want to go into a lot of detail as that was not the intent ...

Is 6 pips a day enough for you?

hehe I was waiting for your response, if I remember correctly you had responded to some other similar posts in the past. Anyway, like I said this post was merely for entertainment but it does hold some validity in which I will give my input a little ...

Is 6 pips a day enough for you?

Sorry this does nothing for me as the way I trade my settings would not fit into this spreadsheet. Good post though, I'm sure others can make use of it.

Is 6 pips a day enough for you?

Exactly, I average 2-15 pips a day with hi lots, more than enough for bread and water High probability setups with limited exposure to the market works for me, not for everyone but to each their own.

Is 6 pips a day enough for you?

I posted this just for entertainment reasons mostly, I am not saying it is something that can be done every day 100% of the time. Personally I trade on 5 second charts (a scalper) so my MM style is a little different than most.

Is 6 pips a day enough for you?

This is not true for all brokers, I cannot say for FXCM but I know this is not true for other brokers

Is it true that you can't use more than 20 lots?

There are 2, 2 hour windows I trade during the day. In those 2 hour windows sometimes I make my money within minutes and I'm done and sometimes I have to wait the full 2 hours for the right trade(s). If I'm bored there is a 3rd session, a 1 hour ...

Duration of your time trading