Price Action Scalping

This is my second trade of the day.

The first one just missed my target by two pips, I had to scratch it for a BE trade. (I hate that)

This one looked like was going to do the same, but just pulled back at the broken top range bar.

7 pips. 2%. Does seem much but if you compound 2% a day with 50000 capital, working 200 days, you end up with over 442000 at the end of the year.

Now guys this thread has many visitors but nobody is showing his chart but me, do not be afraid, be part of it, that is the only way forward.

When you are not afraid of losing any more, that is when you will began to win.
 

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This is extract from Bob Volman Book:

"An aspiring scalper should realize, though, that he is just as human and susceptive to the vagaries of the mind as all those who failed before him. To think oneself above that can be a costly mistake that sooner or later may come to collect its debt. Arguably, the only way for a scalper to stand a fighting chance is to acknowledge his personal follies and not deny them".

Then he goes on and finishes like this:

"An excellent trick to counter intuitive folly is to force yourself beforehand, mentally or even verbally, to rationally defend your reasons for taking a trade, as opposed to just pulling the trigger because thinks look good. Rationalising your next step will instantly demobilize a big chunk of potential irrationality. This is crucial concept to grasp."
 
A new day.

Remember that setups do not give us the strength of the underling market, but only a mean to get in to the market:

"Yes, I think there is a big misconception about trading and setups in general. Traders rely very much on set ups to initiate a position. But in my humble view, set ups will not give a true reality of the market condition but the overall chart will. The pressure is either up, down or neutral. If it is pushing prices more one way than the other, without much resistance in sight, a trader simply sit tight until he spots a tradable setup that offers him a good entry to participate. The actual shape of the set up is quite irrelevant."
 
Extract from Al Brooks:

"You will not make money long term until you know enough about your personality to find a trading style that is compatible. You need to follow your rules comfortably, allowing you to enter and exit trades with minimal or not uncertainty or anxiety. Once you have mastered a method of trading, if you feel stress while trading, then either you haven't yet found your style or yourself".
 
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5th trade of the day.

Nice trend down, nice pull back to the ema, just 1/3 retracement, as soon as the last bull bar gets broken I am in, SL is placed 1 pip above the last swing high

-1.5, -2.1, -1.7, +2.7, +7 = +4.4

So this means even if you lose more trades you still can make money.
 

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6th trade.

Double bottom (A and B).

Higher lows (1, 2 and 3).

Small range (yellow line).

Bit of battle, break, pulls back, why? Old support (top yellow line).

Target reached (just, to be honest I cheated a bit there, got my profit 1 pip before target, did not like the dance)
 

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This is today daily bar.

Tough day to make money, maybe a good scalper can make some.
 

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Hi there all.

Trend clearly down, (see left side of chart), forms a a block, I am short.

Goes my way then turn, -5.4 pips.

Nothing wrong with this trade, I did what needed to be done, but did not work out.

When everything is done properly, losses need to be taken with grace and to move on.
 

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Just got stopped out(trade above), see blue arrow on the left.

Then she trends down, pull back to the ema, forms four dojis. I am short, nearly got me out again at the pullback, but did not. Target reached +7 pips.
 

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Where did you short there? At the top of that micro-range or on the breakout?

On the breakout, about 1 pip below the low of the lowest doji.

The Idea is: Bears drags the prices down (the underlying condition is down, as mentioned in the first trade), the countertrends gets in, pushing price to the 1st resistance: the ema, stalls (dojis) breaks, I am in.
 
3rd trade.

made 7 pips. +2%

Does anybody know why I took this trade?
 

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im far from knowing what i am doing to be giving out advice... lol, i would love to join in the discussions but will probably be the one asking all the questions lol
 
im far from knowing what i am doing to be giving out advice... lol, i would love to join in the discussions but will probably be the one asking all the questions lol

This should not be about who's got the biggest nose, but it meant to be an exchange of why we made certain decision on trading with the idea to step forward.

Just post your ideas without worries, nobody is judging, the rest will follow.
 
lol, well, im currently in a short eu trade off 13158.8

market just seems so slow today, for a monday morning,...
 
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