I have been posting mostly EUR/JPY trades recently. I had planned on trading the EUR/USD during this session. However, I just never was seeing the setups that I prefer to see using the Logical Forex Scalping System. But, I was seeing good setups on the EUR/JPY…so that’s what I traded.

I took two trades. I’m done for the day. The setups were quite clear, and I was able to take more pips than normal when I’m scalpling forex. As you know, my favorite way to trade is quick-in-and-out, but I will definitely stay in a trade longer (normally using the Logical Forex Groove to tell me when to exit — or stalled price). But, sometimes price moves fast, and other conditions tell me I can safely stay in a trade. It’s not always easy, and it DOES generate a bit more “stress” than I prefer…but they’re still fun trades.

*** TRADE #1

Basic Breakout Style during Up Move

Exit #1

Basic Breakout Style during Up Move

*** TRADE #2

Magnets and Everything Happen Together

Exit #2

Magnets and Everything Happen Together

I exited this trade because price stalled.

I’ve also mentioned before, that if you can handle the quick “spikes” and “price jitters” of the EUR/JPY, it’s a very profitable currency pair, especially for scalping. If you get in “right”, some moves are absolutely enormous…giving you big profit on simple setups. But, always remember…it’s usually best when scalping forex to take profit “immediately”. You simply can’t lose when you do that!

The EURJPY hasn’t been all that easy to trade during the past hour or so, but good enough if one is patient.

Both of these trades lasted less than 1 minute each. In total, they produced about 20 pips profit, after commissions.

You’ll notice on these charts a Pink arrow. This where I could have entered, but chose not to do so, based on several factors, but one in particular was the Logical Forex Magnet Line, and how price had been reacting around Magnets during this session. I chose to wait for a more high probability trade on each of these…but a more aggressive trader might choose to enter on the Pink arrow.

I have a long busy day ahead tomorrow, starting early in the morning, so I’m going to stop trading now. It’s been fun and profitable, and most likely, the best part of the trading day is coming up here in a few minutes. Have fun. I’ll catch up to you next week.

*** TRADE #1

Patient Scalp, Quick In-and-Out

Exit #1

Patient Scalp, Quick In-and-Out

*** TRADE #2

Almost exactly the same kind of setup as the previous trade.

Another Quick Forex Scalp

Exit #2

Another Quick Forex Scalp

I noticed that while I was posting this, the price on EUR/JPY has been a bit erratic and VERY jumpy. Be careful!

Let price give you a good, clear flow, then watch for the mini-retrace (especially near Magnet Lines), and then evaluate the setup for a high probability trade. If price moves against you even a little bit…bail out! If price goes in your favor, even a little bit…exit with profit quickly! Of course, if you are a brave soul, you can hold on, but be ready to accept giving up your profit.

One of my trading buddies just told me he had a 7 pip profit…clicked the button to exit…and only ended up with 2 pips profit. It wasn’t any kind of broker manipulation (and we know this because we use different brokers, but saw the same thing). So, move quickly! Not just today…but every day.

If you really take the time to read this…you’ll learn MANY hints and clues that will make you a more profitable trader.

Sometimes, it’s just not fair to consider forex trading anything other than, well…fun!

I focused on the EUR/JPY during this session. I’m sure glad I did, as the trades and setups were quite easy to spot, and the momentum was so aggressive, and the entry and exit points so obvious…that I almost feel like I cheated.

I’m definitely done for the day. Count the pips. Wow! It is always so much fun when price moves this way. (It’s fun when I make a big-lot trade on small pip profits too!)

And, remember…although these are “big profit trades”, the only reason I stayed in them as long as I did (instead of for my usual 2-6 pips profit)…is because the momentum of the price action was so strong, and so clear. I’ll take it.

*** TRADE #1

There had been a large downward move, then a rather strong retrace…which often sets up an even stronger move in the original direction. This trade was on the retrace, and the following two are on the continuation of the previous strong downward move.

Mini Flow Flip

Exit #1

Mini Flow Flip

*** TRADE #2

Time for the big continuation in the previous downward direction. Of course, I had no idea, nor did I try to predict, that this move would be so strong. But, I jumped in and took it all.

Strong Move in Previous Down Direction

Exit #2

Strong Move in Previous Down Direction

*** TRADE #3

Strong Continuation

Exit #3

Strong Continuation

The EUR/JPY pair always amazes me.

Have I said anything about forex scalping being fun?

This is a classic Logical Forex Flow Flip setup. Price had been going down for a few minutes, and the indicators showed a nice setup. Patience was important here as the Flow Flips normally do a little “retrace dance” right before they take off in a new direction.

When I entered this trade, I was prepared to bail out quickly (and try again if the setup appeared). Setups that look like Flow Flips often can sometimes be a fake-out, and price will continue in the previous direction. But, this particular setup was giving some good clues that if it did take off, it would be with some momentum.

*** TRADE #1

Forex Scalping Fun

Exit #1

Forex Scalping Fun

Yes, there were quite a few more pips available for additional profit. But, pay very close attention to how I traded this. I used the Logical Forex Groove, along with the Magnet Lines, to have a calm, no-stress trade, knowing when to enter, how long to say in, and when to exit. I prefer to trade with no stress.

It never bothers me a bit that I “missed more profit”…and I don’t care if I just made 2 pips profit or 20. I just conistently and routinely take my high probability setups, day after day…and if price “takes off” and I’m still in the trade, that’s great, but if I only get 2-3 pips, I’m satisfied with that, too…especially since it’s certain profit, and I’m in and out so fast, there’s no time to feel stress.

Once this really becomes a part of your core mental strategy, and you fully incorporate the Logical Forex core trading strategy…The Secret Forex 4.2 Formula…you will truly be on your way to an incredible trading lifestyle. The basics? Go for small pip profits, in and out quickly (take profit “immediately”, and if price “takes off” then let it run, otherwise exit QUICKLY with a profit)…and then use these profits to build your way into trading HUGE lot sizes…still targeting those small pip profits. It’s about as easy as it gets.

That’s what I’ve done today. I’m done. It’s 20+ pips on a large lot size trade. If you traded 1 full lot, it was a “good day”. If you traded 5 lots, you had a “really good day”. If you traded 10 lots, well…do this every day…small lot sizes or large…and enjoy your account equity building up as if by magic.

I waited for the “newsquake” to finish, and the setup was clear…both on the initial entry, and on the continuation just a few minutes later. I skipped the first potential continuation trade at around 1:11am (US Central) because of several reasons, one of them being that the Logical Forex Groove Indicator was fairly flat.

I’m done for the day…although I may still trade “for fun” using smaller lot sizes.

*** TRADE #1

Continuation after News

Exit #1

Continuation after News

*** TRADE #2

Another Continuation Scalp++

Exit #2

Another Continuation Scalp++

Logical Forex Scalping is truly fun!