That's new for me. Another detail I have pay attention to. Thanks for sharing this. Actually, I was thinking about this too, I was stopped A LOT of times before because of just 1-2 PIPS and then the market went into the other direction... just ...

Part Time Wealth Building Trading System - Weekly Scalping

Something is not right here. I was stopped 3 times today, 2 times for g-j and 1 time for g-u. Either I don't understand how to place my entries, or I don't know...? Could someone post the close price and the entries for g-u and g-j? Thanks.

Part Time Wealth Building Trading System - Weekly Scalping

i believe he is using 40 PIPs SL on g-u for both systems, daily and weekly. about g-j, you really have to see what's going on with the market but i think 50 PIPs should be enough for most cases. you'll see what i'm talking about when you start ...

Part Time Wealth Building Trading System - Weekly Scalping

tk, i have to take profits. the backtesting i did was very instructive in this way and after what i've seen there i decided that i needed a "safety belt". to tell you the truth, i stopped the weekly scalping after i made almost 180 PIPS (and that ...

Part Time Wealth Building Trading System - Daily Scalping

Nice to see your posts here, Mr Trend... You are totally right. If we use the original systems there will be times with a lot of drawdown. I think most of us are aware of that, at least I am. I actually thought that the weekly system was more ...

Part Time Wealth Building Trading System - Weekly Scalping

i think i just finished trading for the week... today i just got another +100 PIPS from g-u and +20 PIPS from g-j (that's because i've been stopped 2 times but still managed to steal +100 PIPS to make up... lol). probably could have made more but i ...

Part Time Wealth Building Trading System - Daily Scalping

tk says the chances for the trend to reverse are increasing with the number of days having the same trend... for instance, you have 3 days of uptrend: you should enter with a short on the 4th day. let's assume the 4th day had also an uptrend so now ...

Part Time Wealth Building Trading System - Daily Scalping

thanks. anyway, i think there are ways to figure out when you're not in a trending week. i've spent a lot of time trying to learn & understand a bunch of indicators... MACD, RSI, ADX etc and i'm just not gonna let them stand apart. they served me ...

Part Time Wealth Building Trading System - Weekly Scalping

if you use the original system, you can't. you just let the trade run until the end of the week and you close it then; IF there was a trend, you will surely be in a lot of profit. for this reason, if you use a trailing stop you might lose a ...

Part Time Wealth Building Trading System - Weekly Scalping

i don't have that much time every day to watch the market because i have a day job. i also sleep during the european session... so an automated system that would set up entries would be a blessing for me. as for the fun part, yes, you're absolutely ...

Part Time Wealth Building Trading System - Daily Scalping

technically, you should go with a short trade. if your guts tell you something else, go with it; even if you pick the wrong entry, you'll pick up the trend later... and hopefully it'll be enough to compensate for the SL. as for the BOE... it ...

Part Time Wealth Building Trading System - Daily Scalping

so it's not just me. i had the same results, but i thought i didn't know how to use an EA. i'm not sure i've seen entry points rules? well, i'll stick to my manual trading for a bit.

Part Time Wealth Building Trading System - Daily Scalping

yeap, that's what i usually do when i use daily scalping: set my TP next to the nearest support/resistance. it works most of the times and i'm in profit - which is what really matters for me, not how much i would have done if i have left the trade ...

Part Time Wealth Building Trading System - Daily Scalping

weird, i had an entry at 1.9710 and haven't been stopped yet although it was pretty close 2 times.

Part Time Wealth Building Trading System - Daily Scalping

i thought the daily scalping entry was based on previous day trend, while the weekly scalping entry was based on previous week trend. although the entry point is the same, one position might be long while the other is short. ... and a question: i've ...

Part Time Wealth Building Trading System - Weekly Scalping

yes, you got it right. every time you are stopped, your reverse trade should start immediately; then you need to set up your next trade, which is similar to the one that has just been stopped...

Part Time Wealth Building Trading System - Daily Scalping

see rule #5: use 40 PIPS Stop Loss for all trades. as for a TP stop, you have 2 alternatives: 1. either let the trade run and close it at the end of the day (between 23:00 - 24:00 GMT), or 2. take profit whenever you feel comfortable with it. when ...

Part Time Wealth Building Trading System - Daily Scalping

Recap for Daily Scalping — Daily trading rules: 1. Create daily chart on any pair (* usually GBP-USD or GBP-JPY). 2. Enter Buy/Sell order upon Sunday or Monday open at 2400 GMT. Order should be consistent with previous days trend (i.e; ...

Part Time Wealth Building Trading System - Daily Scalping

... and i already took some profits (just couldn't help it!), from GBP-USD: - using daily scalping entry: short, enter 1.9662 / exit 1.9572, + 90 PIPS - using weekly scalping entry: short, enter 1.9612 / exit 1.9572, +40 PIPS total = +130 PIPS. i ...

Part Time Wealth Building Trading System - Weekly Scalping

there were weeks when price went up and down like crazy, just enough to hit SL and trigger another transaction... and then drive to the next SL... very frustrating. i've seen that especially with GBP-JPY for a couple of weeks during the last 6 ...

Part Time Wealth Building Trading System - Weekly Scalping