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Hey Rick.. With your M1 scalping, do you base your trades off...

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chaddam

294 Posts.

15

23/01/20

21:14

Post #: 42546313
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Originally posted by RickM ↑

Yes Cooder, this is the space I am in as well.
95% of my trades are only on GBPJPY but I do trade occasionally GN, GA, EC, EJ.
So I am using large size trades (when in the groove) trading the M1 for 5-15 pip trades. I learned in the last year you don’t need to work your arse off for 100 pips a night (obviously not always possible) when all you really need is 20 pips on a 5 lot trade. To be honest I struggle emotionally with trade sizes over 1 lot but I have a money management strategy that helps settle my nerves and a great mentor.
If I don’t see a perfect trade, I just wait which is the hardest skill to learn.
So I am looking just one trade a day, or 20 pips and I am done.
I learned this skill of a western Australian trader who will put 25 lots on a trade if it presents itself.
I am not joking.

Cheers

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Hey Rick.. With your M1 scalping, do you base your trades off the target theory?
As Swing high/lows on the M1 timeframe would be accumulation of stops for a bigger move?
When I’ve tried this out I’ve had good success.. while trying to figure out the Achilles heel you spoke of lol.
Thanks.. Adam
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