Easy Scalp Newbie

This is a discussion on Easy Scalp Newbie within the First Steps forums, part of the Reception category; Guys, Im new to trading, my general day to day job is within IT/Telco with decent salary etc, when i ...

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Old Jul 29, 2012, 4:21am   #1
 
3 Posts
Joined Oct 2011
Thumbs up Easy Scalp Newbie

Guys,

Im new to trading, my general day to day job is within IT/Telco with decent salary etc, when i mention decent I see various clients making me looking like a bug. I was born into lower/middle class with good parents etc both having degree level jobs just not paid to lead a total rich live style.
I would like to improve on cash inflow while i do my current well paid job.

A bit more about my backround I now see kids born into money fair enough their parents done a good job landed lucky etc which is great for them.

My issue is working for someone else means I will never become rich ( dont get me wrong I live very nice and enjoy many luxurys ie cars i need to wait till i can afford it 3 years later.

Also In the UK I work in IT, and everyone within is undercuting causing empolyers to make a wishlish of qualifications to even apply for a new job at a less salary than im currently on. After all the uk is still very much in a reccesion what ever the government claim i look at the building trade and also no work.

Oh I forgot to add in 27 years old decent iq not genious but above 130, numbers seen to be my game I dont care too much for spelling or grammer as whats a spell check for?

Ok after all that im based uk Glasgow and have been paper trading for 2 years using different brokers and have settled with intertrader and employing as scalp system on the AUD/USD only making it a basic as possible 1m charts using macd default, RSi , and price ocilator default.

Intertrader charge 1 pip so my target is +2.3 = £130 take profit. I never let profit run or chance just take and go.


Now when to trade is the tricky bit i would look for a differegence on rsi on the 5 min chart and fit into lower macd within the min within that i would look to tick chart to take same princible and go long/short if the price goes to £120 i will not deal and wait for a min of the£130 but most of the time it is higher.

I will then wait for the 1 min to reverse and retrade on the other side if the trade goes the wrong way i take loss at £500 but at a above 85% win ratio its acceptable.

The problem i face that i work full time so my time in the market (when volitile) is 1200pm-1400pm uk time

Note to this i also add in bollinger bands and 20pma and finnally a price occilator not the stochastic as this orginal was sold to me as the best indicatornone of theese being the main ind but the combined with rsi and macd slowdown seeem for me strong.

Of my demo accounts each have had different tactics & outcomes however the 1-5m scalping seems profitable my intial outlay would be the 10k with the same as the demo.

I read a lot of people making things more complicated than they need to be ie finabrchi etc at the end of the day it either goes up or down espesically in a small time frame.

If any one could comment or even better someone local to glasgow view my style for a free run in my car
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Old Aug 12, 2012, 2:16am   #2
 
3 Posts
Joined Oct 2011
Re: Easy Scalp Newbie

jonnyteg started this thread Just a little update here.

This industry seems very secretive with people keeping knowledge to themselfs.

Any one I ask about stocks that I think may do it doesnt and says its far too risky ?

All I was looking for was response from a more experienced 'scalper' as every where you look with trading your risk reward ratio should be less risk higher reward systems, which is logical.

But when you look to scalp you look to make profit as much as possible per trade taking a pre defined set amount that you are happy with mine being currently £120 min.

Now in less than 3 weeks this current 'paper' system has made just under 9k which seems good despite me having a full time job with limited times to trade.

A few issues that i need advice from my rough win ratio is >80% however on the trades that were loosing i once doubled the spread ended up making profit and another treble on original price again making profit 'Lucky' ?

If i back test my original loss take was £500 per trade, the reason i doubled,trebled was i was sure the market would move my may.

Now I only look at 1 min with cust price ocs and std macd with bollingers.

I take price using same indicators on tic charts, my broker fee is 1 pip and i only trade AUD/USD pair
so i look for my 1.2(2.1) pip profit which usually means at 1.5(2.5) pip = £150 per trade

I have tried many differents tactics and feel scalping is for me so any response or pm from a experienced scalper would be appreciated or even a comment.

I have had pms from people asking me to join their trading school! I have studied this for 2 years so i am not interested thanks anyway.

If any one is local to glasgow then even better as i cant find any trading arcades in the city which is strange everyone must work from home, on your dsl which if you help me i guarantee i will improve your speed as long as you are on a 21cn connection. ie not virigns fully fibred connection which is coax <400m

I hope im in the right forum as i have said before trading is hard to make average profit and not try to alter your system.


Any ways ' demo account' 20/7/12 10k and 12/8/12 18.8k so of any scalper can assist and be a genuine trader not a salesman for a trading school either respond or pm cheers


Jonny ( Broadband tech l3)
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