The trading journey


Tuesday, November 22

Scalps and indians

Well, I think scalping got me hooked. So far after reading a lot in forums, seems like it might be better than waiting for the big trades to come. And the market, at least, should be more likely to move according to cci, since it's moving on it's own, without news. The chart is roughly 4 hours. 1 minute chart. When doing it live, it's most likely impossible to take them all, and maybe focusing on 5-10pip profit might be the key. Right money management comes into play too. What I like about this idea, isi that you would take trades on the little swings, instead of waiting for the big ones to set up. If following 4 or so instruments, it might result in 100 or so trades per day. Very interesting and tempting. Considering 100 trades at 6 pip profit, 4 pip loss, and 60% accuracy, would turn out a winner, and not a bad one. 60*6-4*40=200pip profit. Imaginary numbers, but anyway. Will be updating.

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