Comments on: What are the makings of a good scalp trade? http://www.winnersedgetrading.com/what-are-the-makings-of-a-good-scalp-trade/?utm_source=rss&utm_medium=rss&utm_campaign=what-are-the-makings-of-a-good-scalp-trade Helping Forex Traders See The Light Sat, 04 Feb 2012 19:52:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Robinhood777 http://www.winnersedgetrading.com/what-are-the-makings-of-a-good-scalp-trade/comment-page-1/#comment-2139 Robinhood777 Fri, 23 Jul 2010 23:14:00 +0000 http://www.winnersedgetrading.com/?p=3619#comment-2139 Hi Gerar, everyone is so very interested in stops, seems like as traders we love them, and just love to stop out. I hate stops. MOST of the pros I know, do NOT use stops at all. But if I have to select one, it would be close. would hate to be after 10 pips and loose 20, so, if it went against me, I would probably pull out immediately or build a position short if I felt strongly enough about it on the other time frames. One trader I know, puts stops an EXTRA 20 pips away and it increases his accuracy into HUGE percentages. I cannot tell you how many times I am stopped out and then it just turns and goes in my direction and even further than I would think. SO, many times I will put more on exactly where I figured is a good stop. Thanks for posting. Hi Gerar, everyone is so very interested in stops, seems like as traders we love them, and just love to stop out. I hate stops. MOST of the pros I know, do NOT use stops at all. But if I have to select one, it would be close. would hate to be after 10 pips and loose 20, so, if it went against me, I would probably pull out immediately or build a position short if I felt strongly enough about it on the other time frames. One trader I know, puts stops an EXTRA 20 pips away and it increases his accuracy into HUGE percentages. I cannot tell you how many times I am stopped out and then it just turns and goes in my direction and even further than I would think. SO, many times I will put more on exactly where I figured is a good stop. Thanks for posting.

]]> By: Robinhood777 http://www.winnersedgetrading.com/what-are-the-makings-of-a-good-scalp-trade/comment-page-1/#comment-2140 Robinhood777 Fri, 23 Jul 2010 23:09:33 +0000 http://www.winnersedgetrading.com/?p=3619#comment-2140 Hi, thanks for commenting. I don't use the nickB method, but if its good and works well for you, I would surely stick with that. The spread is irrelevant as it is a cost of doing business and there is nothing that can really be done with that, but if you look at the trade it was 11 pips of pure profit, or $110 for 9 minutes of "work" I seek to do this as many times a day as I can possibly find, and it is amazing how many I miss. Its not for everyone. But some people really like scalping and I have been doing it for 10 years straight. So, it does work for me. It takes time to get the right feeling for it though. Hi, thanks for commenting. I don't use the nickB method, but if its good and works well for you, I would surely stick with that. The spread is irrelevant as it is a cost of doing business and there is nothing that can really be done with that, but if you look at the trade it was 11 pips of pure profit, or $110 for 9 minutes of “work” I seek to do this as many times a day as I can possibly find, and it is amazing how many I miss. Its not for everyone. But some people really like scalping and I have been doing it for 10 years straight. So, it does work for me. It takes time to get the right feeling for it though.

]]> By: Gerarfx http://www.winnersedgetrading.com/what-are-the-makings-of-a-good-scalp-trade/comment-page-1/#comment-2088 Gerarfx Wed, 21 Jul 2010 05:55:54 +0000 http://www.winnersedgetrading.com/?p=3619#comment-2088 Thanks Michael, very helpfull.... you do it so easy...<br>In a trade like this where you put your stop?? How much do you risk in each scalp with a target of 15-20 pips? Thanks Michael, very helpfull…. you do it so easy…
In a trade like this where you put your stop?? How much do you risk in each scalp with a target of 15-20 pips?

]]> By: Heasymo http://www.winnersedgetrading.com/what-are-the-makings-of-a-good-scalp-trade/comment-page-1/#comment-2079 Heasymo Tue, 20 Jul 2010 14:05:16 +0000 http://www.winnersedgetrading.com/?p=3619#comment-2079 Your target is only 11 pips of profit?? what about the spread? It would make up 20-30 percent of your profit if your spread is only 2-3 pips.Not to mention if you lose a couple of trades..totally Against the NickB method! Your target is only 11 pips of profit?? what about the spread? It would make up 20-30 percent of your profit if your spread is only 2-3 pips.Not to mention if you lose a couple of trades..totally Against the NickB method!

]]> By: 4x2profits http://www.winnersedgetrading.com/what-are-the-makings-of-a-good-scalp-trade/comment-page-1/#comment-2060 4x2profits Mon, 19 Jul 2010 06:13:38 +0000 http://www.winnersedgetrading.com/?p=3619#comment-2060 Most analytical personalities find it difficult to become scalp traders.<br><br>With the time it may take to solidify in your mind the right time to pull the trigger you may want to entertain the thought of position trades or swing trades.<br><br>just my 2 cents Most analytical personalities find it difficult to become scalp traders.

With the time it may take to solidify in your mind the right time to pull the trigger you may want to entertain the thought of position trades or swing trades.

just my 2 cents

]]> By: Darryl http://www.winnersedgetrading.com/what-are-the-makings-of-a-good-scalp-trade/comment-page-1/#comment-2058 Darryl Mon, 19 Jul 2010 06:08:44 +0000 http://www.winnersedgetrading.com/?p=3619#comment-2058 Nice description. I'm watching the GU now as it languishes @ 1.5282, which is support. I took a 5min buy with a stop 5 pips below the daily low for a risk (including spread) of 18 pips & a 1st target of 1.5315 (last 2 15min swings are 5218 & 19) and 2nd target is 1.5344. Of course the second target is the psych level you mentioned. It is also the 38% fib level (1.5349) of the complete move up to 1.5471 & the 50% level of the 15min swings from 1.5398 to 1.5277. But it is a Sunday(Monday depending on where on earth you are) so I did just bank 5 pips and shorten my stop significantly. Now up 12 and stop is BE. You can track the remainder. 6:08 PM PDT (GMT 2:08am) Nice description. I'm watching the GU now as it languishes @ 1.5282, which is support. I took a 5min buy with a stop 5 pips below the daily low for a risk (including spread) of 18 pips & a 1st target of 1.5315 (last 2 15min swings are 5218 & 19) and 2nd target is 1.5344. Of course the second target is the psych level you mentioned. It is also the 38% fib level (1.5349) of the complete move up to 1.5471 & the 50% level of the 15min swings from 1.5398 to 1.5277. But it is a Sunday(Monday depending on where on earth you are) so I did just bank 5 pips and shorten my stop significantly. Now up 12 and stop is BE. You can track the remainder. 6:08 PM PDT (GMT 2:08am)

]]> By: Fritzmoench http://www.winnersedgetrading.com/what-are-the-makings-of-a-good-scalp-trade/comment-page-1/#comment-2057 Fritzmoench Mon, 19 Jul 2010 05:23:47 +0000 http://www.winnersedgetrading.com/?p=3619#comment-2057 Thanks Michael. I have been watching you on the morning session, but I am frequently confused since there is so much happening at once. This post is extremely helpful to someone like me who is very analytical and needs to go through your logic step by step. I don't know if I can become a scalp trader, but this kind of presentation allows me the opportunity to work through some of the detailed questions my mind goes through when considering a trade. Thanks Michael. I have been watching you on the morning session, but I am frequently confused since there is so much happening at once. This post is extremely helpful to someone like me who is very analytical and needs to go through your logic step by step. I don't know if I can become a scalp trader, but this kind of presentation allows me the opportunity to work through some of the detailed questions my mind goes through when considering a trade.

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