Forex Trading – Scalping For 10 Pips Per Day
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Duration : 0:9:3
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25 Responses to “Forex Trading – Scalping For 10 Pips Per Day”
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hi , is your equity …
hi , is your equity curve from oanda platform. or you using something else ?
yeah,that’s rite.. …
yeah,that’s rite..im asian..im so lucky..thank you for your good info,bro..
It’s true traders …
It’s true traders need to understand risk and proper money management..but you can still do that will negative risk reward ratios or higher risk low reward ratio such as 30 pips risk, 15 pip target. I have a similar method that does that..
It’s basic math : 7 wins and 3 loss will be net you 45 pips. (70% win rate)..
Also higher risk to lower reward ratio is suppose to give you a high probability of winning because it’s easier to hit a lower target… it’s good the psych too.
Great video, love …
Great video, love the scalping technique. Quick question though, as your shooting to take a trade on the retracement of a large candle, what stops you from reversing position once you take your 7 pips (or however much you decide to run with) then setting a another tight stop below your reversed position and scalping that along the direction of the big candle? What would be the downsides to that, the risks etc.
Thanks
7 AM GMT to 22 GMT …
7 AM GMT to 22 GMT – basically London to New York sessions, but this actually works pretty well in Asia as well
Great setting but …
Great setting but could you please mention what is the best time to trade it?
Best of trades and many thanks for sharing your ideas.
Why is the video ” …
Why is the video “no longer available”? Bummer!
Good Point I would …
Good Point I would not trade this setup with MORE than 1MM notional. 500K would work fine in EUR/USD and USD/JPY but you should always test it on smaller amounts.
What is possible …
What is possible with a position size of 5K, might not possible with a 500K. It is so becasue of psychology. I have a huntch Boris position size closer to 5K than to 500K. Though, I could be wrong! No real money would fight the momentum, and would do the opposite! Nevertheles, cant you see the real value of this video? After a 2 bars breakout wait for a pullback and long! Simple, as it gets!
Trading is not …
Trading is not logical but psychological and applying the laws of physics and the concomitant statistics to it is a fallacy that makes fools of many smart people. I appreciate your input but we will just have to disagree. Trading not about being statically right. It about making money. You comment about negative R/R could not be more wrong BTW and shows you don’t have much practical experience i the markets
Thanks for your …
Thanks for your insight but you sound like someone who is very versed in science but has never traded in his life. Scientists and engineers and people who think like them make the WORST traders (witness Wall Street today driven into bankruptcy by all the quants.
Nobody is saying …
Nobody is saying statistics makes money. The issue is that you’re recommending an approach with little evidence it works. You can’t use your “equity curve” as proof because you did not do proper testing from a statistical point of view. If a trading approach works, it should be capable of rigorous testing. That’s the value of statistical approaches. Also, all traders need to understand risk and proper money management.. A negative risk reward ratio is not a good approach over the long term.
This approach makes …
This approach makes real money under real trading conditions as “evidenced” by the equity curve. Could it just be dumb luck as you claim? Perhaps, but I will stick with it until the equity curve begins to disintegrate. Trading is the most pragmatic of all disciplines. It could not care less about elegant statistics. It only cares about risk control and profit making.
Statistics offer …
Statistics offer only a marginal value to making profits from trading. If it was otherwise books like Evidence Based TA would be recipes to print money alas they are not.
Discipline is …
Discipline is always important. The issue isn’t that but that you’re making assumptions and recommending an approach based on a statistically invalid data set. The book “Evidence-Based Technical Analysis” explains statistical issues such as this.
Do you have a …
Thank you again.
Do you have a specific risk reward ratio as a standard? Also I’ve begun reading “Technical Analysis of the Currency Market”…so far it’s awsome, entertaining as well as informative. Are the majority of currency questions contained therein…and if so I’ll stop persting…
Thank you for your …
I have had several great runs of luck though, just by following the technicals given on the fx360 website. (Been bitten once or twice as well in the past week but no real harm done). (continued in next post…….)
Thank you for your quick response. I’m very new to this whole forex thingy
It the previous …
It the previous video from the past two weeks
I only use BB’s …
I only use BB’s which have an implied 20 SMA in them
You need to test …
You need to test your broker to see if that the case
People will always …
People will always lose money because no systematic approach ever works over the long run. There is no system with rigid rules that ever makes money. This is a framework that allows people to use statistically generated tactical entries that has worked well not because of the system but because of the discipline I employed,
Boris shows his …
Boris shows his trades and gives clear rules. This makes this approach look reasonable. It is not. People will lose money. First, his research is far short of that needed to recommend an approach. 200 trades are not enough. It grossly fails to consider sample size. Even 2,000 trades would fall short because of changing market conditions. He also hasnt made the market conditions testable—a flawed testing approach. Finally, a negative risk reward ratio is deadly over the long term.
Hey Boris, does …
Hey Boris, does using a 13 EMA in combination with standard bolinger bands give the same results with scalping (in combo with an obvious trend) on entry and exit points as the double bolinger band strategy that you use? Thanks.
Always worried if I …
Always worried if I try to scalp then the broker will manipulate the tick data just to hit my stop loss, what do you think?
Where do I find the …
Where do I find the first two installments of the scalping system?