May 26, 2009 - Slow day again
Things were a bit slow today, not much action on either platform. They're both close to flat. So how do you make money on days like this (and yesterday, which was a holiday) ?. Well, you can either scalp (which I have before but don't anymore) or stay on the sidelines. Or pick and choose manually the "best looking" pairs at the moment.
If you want to "scalp", simply move down to the lowest time frame with which you are comfortable (the 5 mins was what I liked) and manually enter trades after crossings in the direction of the platform which seems a bit more performing than the other. And after you get a small profit (depending on the pairs that'll be between 5 and 20 pips) put your Stop Loss to BE + 1 (Break Even +1). This way, your trade is now secured and even though it's just one pip, please, a pip is a pip alright. Always better than MINUS 50 pips. Then trail your SL as you wish.
I'm personally in a 3 trades right now, following the trending platform (pick & and choose):
As you can see, all three trades were taken at the same time, at 1 o'clock this afternoon (EST).
There's a small indicator I got tailor-made a few months back, which gives you some basic information about each pair you're watching. I was part of a much larger indicator which took up a lot of screen and I got a programmer to strip the code to the basics. Here it is:
You can play with the settings to place it where you like on your screen. It's called Signal Bars Info. I'm going to upload it to the DOWNLOAD link in a second.
Things were a bit slow today, not much action on either platform. They're both close to flat. So how do you make money on days like this (and yesterday, which was a holiday) ?. Well, you can either scalp (which I have before but don't anymore) or stay on the sidelines. Or pick and choose manually the "best looking" pairs at the moment.
If you want to "scalp", simply move down to the lowest time frame with which you are comfortable (the 5 mins was what I liked) and manually enter trades after crossings in the direction of the platform which seems a bit more performing than the other. And after you get a small profit (depending on the pairs that'll be between 5 and 20 pips) put your Stop Loss to BE + 1 (Break Even +1). This way, your trade is now secured and even though it's just one pip, please, a pip is a pip alright. Always better than MINUS 50 pips. Then trail your SL as you wish.
I'm personally in a 3 trades right now, following the trending platform (pick & and choose):
As you can see, all three trades were taken at the same time, at 1 o'clock this afternoon (EST).
There's a small indicator I got tailor-made a few months back, which gives you some basic information about each pair you're watching. I was part of a much larger indicator which took up a lot of screen and I got a programmer to strip the code to the basics. Here it is:
You can play with the settings to place it where you like on your screen. It's called Signal Bars Info. I'm going to upload it to the DOWNLOAD link in a second.
