Scalping Strategy

[Tzachi]

Any1 using scalping as the main way of trading?

I do and I am using cci macd & adx on a 1 min chart. Looking to get 3-5 pips a trade and go in ONLY with the trend. 3-5 trades per session.

Any others?
What strategy?

[pipman]

OK...i'll bite, whats your setup?

[Tzachi]

Mainly cci crosses zero line confirming with adx cross up the 20 line and macd signal is IN the histogram.

All on 1 min chart and looking for up to 10 pips a trade. Everage trade brings 3-5 pips in 2 min round trip.

Do it a few times a day and you will be OK.

MUST- get out when reach 5-10 pips. Dont be greedy, there are many set up during the day and no need to hope or try to be greedy and lose whatever you already gained.

[SoundFX]

Doesn't that make you twitchy? If I was scalping, I think I'd develop a permanent twitch. Why not increase the time frame you're using and collect 10-100 pips doing the same thing? Less twitchiness.

[wowcrazy]

A screenshot of how your scalping strategy is being done would be nice.

I found a thread in strategybuilderfx.com that uses Zig Zags to scalp.
http://www.strategybuilderfx.com/for...ad.php?t=14724

Originally Posted by Tzachi

Mainly cci crosses zero line confirming with adx cross up the 20 line and macd signal is IN the histogram.

All on 1 min chart and looking for up to 10 pips a trade. Everage trade brings 3-5 pips in 2 min round trip.

Do it a few times a day and you will be OK.

MUST- get out when reach 5-10 pips. Dont be greedy, there are many set up during the day and no need to hope or try to be greedy and lose whatever you already gained.

[Tzachi]

Sound FX,

No, do not want to see my P/L going up and down during the open position, Like to see it going only one way - MY WAY.

If you take only a few pips a shot, few trades a day you reduce your risk of large losses.

See how the floor traders work - in and out with the trend for a short time many times a day. Some NASDAQ daytraders can make up to 300 trades A DAY !!!!! and they know what they are doing.

If you looking to make a living in trading, you cannot work as a position trader and wait for the wind to be at you back. ( maybe if your position is in the millions to start with) You must go with any movment you detect to gain as many times you can - be a trader- TRADE- buy and sell as many times you can.

Is'nt 3-5 pips a trade, 3-5 times a day on a margin of 100:1 or even 50:1 with even only 1 regular lot can provide you with a VERY nice income? and if it is 5 lots?

I know it can.

Its ok to be greedy, but know when to take the money and run. And than be greedy again and take the money and run and again and again.....

That the beauty of taking money from the market- you have REAL profit, not on paper that the market can take it back the next bar.



Tzachi.

[vmadisetty]

Can we get a screen shot of this strategy. Thanks.

[Tzachi]

MY screen shot will not help you. Its you mind set. Its your emotions that need to be in the zone to deal with the trade and not to gamble.

Its YOUR way to SEE if its going up or down now, to go in, to take WHATEVER the market gives you and to get out as fast as you can BEFORE the market may take you profit away. The market is like the ocean, the waves will ALWAYS come again, so be smart not a gambler.

Get ant chart, get cci on it, get adx on it and READ it. READ it. If you can see it, great. If you canot, its too bad, you may need to find another way to make a living.


Tzachi.