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  • #14,701
  • Aug 4, 2023 1:17am Aug 4, 2023 1:17am
Quoting saisadhan
Hi, I've been swing trading so far, as I appreciate its reduced risk even though it leads to smaller gains. I'm now intrigued about trying out a scalping strategy. If anyone could offer their ideas, I'd be grateful. I intend to test these strategies in my demo account to see if they align with my trading preferences. Thank you for your assistance. JUST TO USE IT ON DEMO FOR LEARNING PURPOSE ONLY NO IDEA OF USING IT ON REAL ACCOUNT.

Use my new excel file on a demo, scalping strategy. Im only searching 3% per session with 1% risk
Trading is very lonely
  • #14,702
  • Aug 4, 2023 1:18am Aug 4, 2023 1:18am
Prolly 20-40 pips per session. Whichever the market session provides opportunities
Trading is very lonely
  • #14,703
  • Aug 4, 2023 1:19am Aug 4, 2023 1:19am
Plus. I just am scalping daily 2-3 trades per session. And i avoid news till data out. Then scalp last session for ny
Trading is very lonely
  • #14,704
  • Aug 4, 2023 1:41am Aug 4, 2023 1:41am
Quoting parveenverma
{quote} {quote} Sure...... I know most of traders of this forum can not be agree with this analysis but you all know that I am pure fibonacci level follower and that's why I gave a reason of my shout by Fibonacci levels settings of my chart. please do your own analysis instead of follow my analysis because I provide long term analysis always but actually I am a swing/scalp trader and provide my probable targets almost daily here.Trade safe
Hello, Good day Sir, I've been following your analysis on this platform, and I'm actually amazed. I'm a new fibs trader, and it sorta feels like I keep making mistakes. So I'd like to learn a few things from you. Like what timeframes you use for trading confirmation and entry. Also, I've heard you talked about untested levels, could you please explain what that is? Thanks a lot!
  • #14,705
  • Edited 2:03am Aug 4, 2023 1:50am | Edited 2:03am
[quote=luckytujuh;14523626]{quote} Use my new excel file on a demo, scalping strategy. Im only searching 3% per session with 1% risk[/quote
That's a limiting belief. Traders can predict the markets with high accuracy those that can't simply have not completed the education and therefore you should be hungry not for money but to learn more and refine your trading skills. I've been trading 6 years full time with over 9000 hours broker active screen time. Losses in the early days exceeding £500k a marriage breakup (so it wasn't all bad) So what i'm telling you here is... You just need to keep pushing forward guys, you WILL get there, because most traders give up not knowing how close to success they actually were.

"The only place where 'MONEY' comes before 'SKILL' is is the dictionary"

THINK DIFFERENTLY
  • #14,706
  • Edited 2:39am Aug 4, 2023 2:21am | Edited 2:39am
This map should be fairly solid on its extremes. I'll be trading RALLY off the red trend-line and SELLS off the fibs until it's breached, reversals come from the deep breaching off the line, sideways movement is trend line play.
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  • #14,707
  • Aug 4, 2023 2:40am Aug 4, 2023 2:40am
Quoting Howdenj
Quoting luckytujuh
{quote} Use my new excel file on a demo, scalping strategy. Im only searching 3% per session with 1% risk[/quote That's a limiting belief. Traders can predict the markets with high accuracy those that can't simply have not completed the education and therefore you should be hungry not for money but to learn more and refine your trading skills. I've been trading 6 years full time with over 9000 hours broker active screen time. Losses in the early days exceeding £500k a marriage breakup (so it wasn't all bad) So what i'm
...
Great Fact
  • #14,708
  • Aug 4, 2023 2:44am Aug 4, 2023 2:44am
Date 4 - 8 - 2023
non farm payroll
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  • #14,709
  • Aug 4, 2023 2:49am Aug 4, 2023 2:49am
Quoting fontu
{quote} So shortcut daily doji may bull restart next day. Lets see. {image}
Back from weekll marketing and still still arounds, no bull restart yet! Any price below 1932.51 and breakout should be enough to start, better little more extension down to below 1931 though, better fakeout plan! Anyway take care
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #14,710
  • Aug 4, 2023 3:06am Aug 4, 2023 3:06am
XAUUSD D1
nothing to add to yesterdays opinion
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XAUUSD H4
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  • #14,711
  • Aug 4, 2023 3:21am Aug 4, 2023 3:21am
For scalping GOLD
i think SELL only 1935.5 - 1936.8
towards(tp) 1920 stop loss 1938.4
  • #14,712
  • Aug 4, 2023 3:46am Aug 4, 2023 3:46am
Quoting ForexIkeja
For scalping GOLD i think SELL only 1935.5 - 1936.8 towards(tp) 1920 stop loss 1938.4
I would say good luck even scalping this.
  • #14,713
  • Aug 4, 2023 3:47am Aug 4, 2023 3:47am
Quoting Howdenj
Quoting luckytujuh
{quote} Use my new excel file on a demo, scalping strategy. Im only searching 3% per session with 1% risk[/quote That's a limiting belief. Traders can predict the markets with high accuracy those that can't simply have not completed the education and therefore you should be hungry not for money but to learn more and refine your trading skills. I've been trading 6 years full time with over 9000 hours broker active screen time. Losses in the early days exceeding £500k a marriage breakup (so it wasn't all bad) So what i'm
...

I couldn't agree more with you. Its an interesting fact. I've blown many accounts to like you.
One thing I realised that martingale method sucks. I've been dupe by many asian introducing brokers and their method

Thus after 2 years of trading, i've come to realised
- i needed to have risk management
- i needed to have my own trading analysis
- i need to aim low, not high

A friend told me, if you are able to flip $10-1. It's a skill.
You will be able to flip a 100k account to 101k.
Also he reminded me, that it may be slow, but it will be consistent due to discipline and skill.

"never say, another day another dollar. say another day another discipline"
those were words of vision, not to seek 10-30%

seek lower 1-3% profit, which might sound low but seems realistic to hit.

Come one tell me. Would anyone wanna profit $10 on a 1k account?
But on the other side, if you do it slowly. Its passive and consistent
Trading is very lonely
  • #14,714
  • Aug 4, 2023 3:48am Aug 4, 2023 3:48am
Taken from the 8H chart. Possible pennant?
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  • #14,715
  • Aug 4, 2023 3:50am Aug 4, 2023 3:50am
It really was the case that as soone as London session started, everyone went out for the day.
  • #14,716
  • Aug 4, 2023 3:59am Aug 4, 2023 3:59am
Quoting MrFanciful
It really was the case that as soone as London session started, everyone went out for the day.
We are here always
24/7 .
  • #14,717
  • Aug 4, 2023 4:40am Aug 4, 2023 4:40am
Fundamentals
FED-watchtool, votes for higher rates FED230920 = 17,5%
https://www.cmegroup.com/markets/int...atch-tool.html

Bond yields for 30y rise extremly
3 days
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1 day (230804)
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  • #14,718
  • Aug 4, 2023 4:53am Aug 4, 2023 4:53am
They aren't going to leave the stops under those 5 equal lows at 32.20 alone
  • #14,719
  • Aug 4, 2023 5:22am Aug 4, 2023 5:22am
Few hours left for NFP just wanted to get on here and say a few things on my mind,

1. Policymakers seem to be manipulating data again, yesterday's figures seemed dodgy as hell. Today's NFP forecast is 205k while previous is 209k the forecast for previous report was 225k. Clearly they're playing around with the figures papering over the cracks to put out the image of a robust labor market to manipulate traders with blue figures, when compared to previous data anything below 209k today will still be perceived as negative by market movers.

2. Volume from yesterday until this very moment shows us the big boys are waiting on the side lines. Yesterday's price correction AFTER data released shows there's barely any big boy volume. So where are they? What are they waiting for?

3. Price has been accumulating at this level for hours now its only sweeping sell side liquidity, today's high wasn't much of a liquidity grab either. The whole world is expecting XXX/USD pairs to drop, we all know what happens when majority expect price to go one way.

4. Use a stop loss, place your sell stop/buy stop and account for slippage.

NFP is notorious for wiping out accounts, may god protect us all
  • #14,720
  • Aug 4, 2023 5:23am Aug 4, 2023 5:23am
Quoting MrFanciful
They aren't going to leave the stops under those 5 equal lows at 32.20 alone
Yes. All the signs are pointing to a big up move at NFP release.

My prediction is that there will be a big spike down to take out all (long) stops under 1929.5 area and to trigger shorts set up down there.

Then the big up move will happen.
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