Logical Forex Scalping & Trading

I posted a EURJPY trade yesterday, and thought I’d share another one with you today.

There was a HUGE downward move just a bit ago, but I was not trading yet. I got started around 2:15am Central today.

It was time for a flip in the direction of the price flow. The Logical Forex Indicators were making this quite clear.

*** TRADE #1

Flow Flip Scalp - Click To Enlarge

Exit #1

I exited when price quit moving in the direction I wanted it to.

Flow Flip Scalp - Click To Enlarge

Let’s see…I started just about 2:15am…I entered at about 2:19am, and exited about 2 minutes or so later with around a 14 pip net.

That’s a great day for two reasons…a nice profit…and a short trading day. I’ll just be able to play and do whatever I want to do for the remaing 23 hours or so of my day. I love scalping forex.

I don’t believe I’ve posted any of my EURJPY trades recently.

Let’s fix that.

The Logical Forex Indicators, especially the Logical Forex WatchDog, makes trading the EURJPY pair almost child’s play. Sure, one has to be careful for the fakeouts, since the pair can be very jumpy and the spread is larger than on EURUSD…but with the Logical Forex Indicators, the guesswork is eliminated.

I’m not going to comment too much on these trades, as the entries and exits are glaringly obvious (aren’t they?).

Count the pips. It’s been a good half-hour “work day”. I’m done for now, but may trade again in the morning. Whatever I feel like. That’s the beauty of scalping forex for a living.

*** TRADE #1

Scalp Past a Magnet Line - Click to Enlarge

Exit #1

Scalp Past a Magnet Line - Click to Enlarge

*** TRADE #2

It was an obvious chance for a re-entry after a small retracement.

Quick Re-entry Scalp - Click to Enlarge

Exit #2

Quick Re-entry Scalp - Click to Enlarge

*** TRADE #3

I rarely enter this soon after a previous trade, and especially this aggressively. Everything told me that price would be like a heat seeking missile to go to the Logical Forex Magnet line.

Aggressive Scalp - Click to Enlarge

Exit #3

Yep. Price went straight to the Magnet line, and I wasn’t going to hope that it would go past it, so I immediately exited as soon as it got near the Magnet line. Although it doesn’t show on this chart snapshot, price took a nosedive right around my exit.

Aggressive Scalp - Click to Enlarge

*** TRADE #4

After that previous trade, I had stepped away, thinking I was done for the day, but when I walked back by the computer, I saw this setting up. Forex scalping is fun. And fast. And fulfilling.

Bounce around a Magnet - Click to Enlarge

Exit #4

Bounce around a Magnet - Click to Enlarge

I don’t normally take this many trades in one session. But, when the market is behaving in a logical way, like I understand it, I’ll trade it. Since I don’t predict, but only trade probabilities, days like today are a lot of fun…as those probabilities were 100% “right on target”.

Hmmm…I just looked at the chart again for the EURJPY. It’s really setting up nicely with lots of trading opportunities. It looks like I “missed” several trades while writing this post. But, you know what? It doesn’t bother me in the least. I’ve had a pleasant day trading, and I know for a fact that there will be many more pips available for me to take later.

My trading day started a little later than I had expected. But, at least I got a few minutes in for trading…and that’s all it took.

I was out of the office most of the morning, and when I returned around 10:15am and reviewed what had been happening, it looked like the EURUSD market had been jumpy and jittery all morning. I think I’m glad I missed that.

It also looked like there was about to be a Flow Flip, where the market turns around and goes the other direction.

It did. And, I took the trade. I was a bit concerned about the strong Magnet Line, and that was my initial target to exit…but price had lots of momentum as it approached the Magnet, so I held on for a bit more.

*** TRADE #1

Scalp a Direction Flip - Click to Enlarge

Obvious entry. Obvious exit.

Exit #1

Scalp a Direction Flip - Click to Enlarge

That’s all for me today.