Logical Forex Scalping & Trading

Some days are just…fun to trade. Today has been one of them.

It’s also fun when a forex scalping play turns into many more pips than expected. As I’ve mentioned before, I have a small pip “goal” of 3-5 pips profit, and I’ll usually take my profit and move on to the next trade. The has proven to be the least stressful method for trading for me. This works especially well with large lot sizes.

If price moves against me very much at all (2-4 pips), I’ll bail quickly, knowing another trade will setup soon. Quite simply, it’s generally quite obvious when I’ve made a wrong decision. Price will generally move in my favor almost instantly, and even though it may bounce back against me for a moment or two, I can still have confidence in the trade, depending on the patterns and flow lines and magnet lines etc. By following this simple “bail out fast rule”, this keeps any “damage” to a minimum. It’s just not fun trying to make up for a big loss with lots of small wins. I’ll talk about that more in a future post.

I took several more trades today than I’m posting. There are some of my favorites…trades that I believe just about anybody can do using the Logical Forex Trading System…

*** TRADE #1

After a nice upward move, this gave indications of a continuation trade. I completely expected price to move back against me in a small retrace, so I held on…as price bounced at a Logical Forex Magnet line…

Continuation Trade - Click to Enlarge

Exit #1

You see why I held on…and why I exited, right?

Continuation Trade - Click to Enlarge

*** TRADE #2

By zooming out on the chart a bit, the pattern was obvious as to what was about to happen next…so I waited patiently for about 10 “long” minutes…

Flow Flip Scalping Time - Click to Enlarge

Exit #2

With that nice Magnet LIne as a target, I just waited patiently again for 3 “long” minutes. Of course, I could have exited almost instantly with a 5 pip profit, and that would have been perfectly fine, too!

Flow Flip Scalping Time - Click to Enlarge

I hope you’re having as much fun as I am…trading and scalping forex…logically and consistently profitable. It’s just so much easier than the more tedious trading techniques…at least for me it is.

When I see a Flow Flip setting up, along with a few other things I look for (which I tell you more about in a Online Forex Workshop) then I will often enter the trade with a rather substantial amount of lots. As a friend of mine says, “You just back up the truck to the loading dock, and fill ‘er up!”.

Well, that’s my goal. Sometimes it doesn’t work out like I want it to, and when that happens, I am VERY quick on the trigger to bail out of the trade.

Of course, it doesn’t take much movement with a large lot size trade to QUICKLY make a lot of money…or lose a lot of lots

After being a bit anxious, only because I believed the Flow Flip was about to happen, my patience paid off with a clear entry. I supposed I could have entered earlier, but I’m just the cautious conservative type usually. I’d rather miss a trade than jump in too early and get hurt.

This trade, however, gave me much pleasure, and no pain. And, it didn’t take but a few minutes. Price hasn’t been moving all that fast, but the moves, once they get started, have been fairly clean.

The chart image looks ugly. In fact, I wouldn’t normally recommend that beginning traders take a trade exactly like this, as continuation trades with prettier “flow lines” are usually easier, but I personally like these Flow Flip trades. If you look at the chart with the Logical Forex Indicators, you’ll see that it was an obvious Flow Flip setup situation.

*** TRADE #1

Big Lot Trade - Click to Enlarge

Exit #1

Big Lot Scalp - Click to Enlarge

I’m definitely done for the day because trading lots of lots allows me to do lots and lots of other things.

I have been away from my trading station all morning and just came back a few minutes ago. I sat down to review what had happened this morning while I had a bite to eat for lunch. It looks like it was a bit of a challenge to find “easy” trades earlier today…but I think I may have just had some good timing.

Just about the time I was finishing my sandwich, a continuation pattern was forming. Based on what I had seen in the charts the previous 15 minutes or so, I didn’t hesitate to enter a trade, especially with how the momentum was gaining.

*** TRADE #1

This isn’t a trade pattern that I take all that often. It’s not a super high probability trade. The difference this time was there was obvious powerful momentum.

Fast Moving Scalp - Click to Enlarge

Exit #1

The reason to exit was obvious. Actually I exited a little earlier than I can show on the chart. The little price bump near the Logical Forex Magnet line was easy to read…as a blip…so I held on, although exiting then would have been just fine, too.

Fast Moving Scalp - Click to Enlarge

*** TRADE #2

Ah, yes, a beautiful retrace to the Logical Forex Magnet line, and then the WatchDog indicator gave that glorious bark signal, right at another Magnet line…all with great moment again…signifying a good time to hold on for more profits than a typical 3-5 pip scalp.

Another Fast Moving Scalp - Click to Enlarge

Exit #2

I exited quickly when price bounced back quickly.

Another Fast Moving Scalp - Click to Enlarge

*** TRADE #3

Oh…look! It’s almost the exact same price pattern…Duh! Take it! Even if it doesn’t work out, I’m way ahead in profit, and with as much momentum as there has been, I can likely exit quickly for a very small loss if it goes against me. And, I’m not going to “wait around” and hope it goes in my direction. If it does, great, I’ll stay in the trade, and if not, I’m bailing fast. So…here’s what happened…

Same Trading Pattern - Click to Enlarge

Exit #3

Nice move! Again, as soon as price went against me, I exited for a nice profit.

Same Trading Pattern - Click to Enlarge

It really is enjoyable being “paid” to have lunch. I have so much fun with the Logical Forex Trading System. Now, I have to admit that there was a bit of luck going on here. It was “lucky” that I had just come back from some meetings to sit down at the computer to see these trades happening. Or…was it really luck? Maybe this is just a good time of day to trade? You’ll have to study that on your own.

Even if I was “lucky” to look at the charts when I did, executing the actual trades, and THAT “timing” was NOT luck. It was a process, just like you can do, too. I don’t have much luck most of the time. I don’t want to count on luck. I want to count on something reproduceable and consistent and repeatable, and the Logical Forex Trading and Scalping System gives me just that.