Tuesday, February 8, 2011

- 4 pips

This kind of scalping is not doing me well. I'm just building small losses one by one. First entry was late, second on time. Then I put in limit order too late. Then string of losses with market doing nothing really, and lastly trade that cut loss in half. -8 half size pips.
I feel like I'm experimenting. I'm taking too many trades for this kind of scalping market. Maybe I'm taking profits too soon also on really good trades. Don't know, I'm adjusting to doing things with those small stops. I never traded this way. Remember swings from before and averaging? So in a way it's all new to me and I'm just learning. Also market is a bit different, lack of quick followthrough for scalp moves, moves are shorter. Now twenty pips straight run is a bingo. I need to put closer attention to range on small time frames, short top of it. Usually shorting bottom of the range gives fake out and instant loss. Probably I should use more limit orders to put me in, market order is now regularly late and I give away 2-3 pips that should use as a buffer while defining is move valid or not. Maybe I should stop looking for the moves the way I used to and start thinking in terms what will give me five pips.



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