Online Professional Forex Training
June 5, 2017

Scalping 20+ trades per day

Hi!

Thank you for stopping by my trading journal.

I trade for a living. My main technique is scalping and I am usually trading 20+ entries a day. I trade usually from London open to 3 PM GMT (15.00 GMT). My goal is to have all positions closed at the end of the day. I do not trade news.

The system is simple. I plot S/R areas on the chart, trend lines, pivots and I enter counter trend there. If the price is moving against me I look for the next area and add to the position creating a better average for the moment when the price will turn.

The target profit is 5-30 pips per position. It is not mechanical trading and I will not explain all my rules. Since the number of trades is high during a regular day my first ambition is to enter a trade in the journal in the next seconds after is executed.

A typical entry will look like this:

sh EU 56 -meaning I shorted EURUSD at the price 1.40567. The clock is FF clock when I post the entry. I try to do it within a minute from entry.

the abbreviations are:

sh – short
l – long
av – average price of the position
eu – EURUSD
gu – GBPUSD
au – AUDUSD
gj gy – GBPJPY
ej ey – EURJPY
uc – USDCHF
sq – square meaning that I have no position open

You may consider that each entry has the same size. I will post where my adding is 2 or more times the initial size.

A word of advice:
I do not trade with SL. I have a monetary SL that is a % of the equity. I will not disclose my equity or profits. I will post profits in pips net of commissions. I will not post statements nor respond to the ones asking for it.

I trade live with Dukascopy, using jforex platform. I chart on Mt4. So I will not be able to post the entries on MT4 charts nor myfxbook or other performance tracking platform.

Please do not follow my trades on live accounts. This style is the result of close to four years of exploring and trial and error. My trades are not signals to anyone but a way to discipline my trading and to see if I can increase the frequency of trading. All my trades are manual trades at market.

From time to time I will post my charts with the bias for the day and main levels.

I think that for the moment this covers the basics. Thank you for reading.

Update 1. I will not post the time anymore. It will be the time of the post in FF +/- 1-2 minutes. It is hard to trade and write. I had trades closed after less than 1 min.

Update 2. I started to receive questions by PM. I am not answering to PM. If you have a question please ask it in the thread. Thank you for your understanding.

Result:
2011
September +2398 pips (an incredible result but with the use of over 60% of my trading line! It was risky like hell and I will never do it again!)
October +1624 pips
November +1476 pips
December 0 pips – I did not trade

2012
January 0 pips – I did not trade
February 0 pips – I did not trade
March +989 pips
April + 569 pips but I traded only one and a half weeks

 

Got bored and got to go. So…

out EY 57
+2 x 4 = 8 pips

Result for the day: +80 pips.

Slow day, only 15 trades, but good profits. See you tomorrow.

It is not martingale. I am not doubling the position. I add same entry lot size to the position at specific levels. My goal is to stay in a reasonable amount of pips distance from the current price.

As with regard to the price here is from server:
“Order BUY xxxx EUR/USD @ MKT is sent at 2011-09-07 08:11:57.486 GMT manually
Order FILLED at 1.40972 USD.”
There might be a difference in time between Dukascopy and your platform.

I was greedy. I changed the TP for EU to 20 and EY to 40. Obviously not met. I could have manually close the positions at +4 for eu and +6 for ej. But got greedy and now I am still into position.

Added again.

EU av 85 13x initial entry
EY av 18 12x initial entry

As a note, I am in my MM rules.

I am out EU +9 pips at 1.3809 fort the whole 40 add ins.

This leads me to a profit of 360 pips. It was extreme because of magnitude of the down movement and also due to the fact that I could not trade two days.

On the ej I am still 100 pips away BE but with the EU out of the way I can concentrate on getting out of this trade.

 

Thank you for the suggestion.

Look at the first post. Av means average. It is the average price of my position. I am adding at specific levels if the price goes against me. Then I reduce position when I consider the price cannot get higher in my direction.

I also exit based on pivots, PA or discretionary.

 

I exited the trade at 104.78 for a gain of +9 pips.

It was a lesson learned. I did all the mistakes in the world but due to my large equity I was able to survive and to finish with a nice profit. But the risk was immense on this trade.

It was 200 ad-ins times 9 pips, a total of 1800 pips on this trade.

 

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