Can I Start Life Scalping?

Wow. I’m amazed at how little time I have had recently to post trade examples to the blog. I have been trading, but I have had so many other things going on that taking the 30-60 minutes to put together a post here… has been difficult for me to do. The reasons behind my limited time to post will make more sense in the semi-near future. Quite simply, I’m “in the background” doing lots of things for you… things I just can’t talk about for a while.

I guess what I really need is a way to be “in and out quickly” for Life Events just as I do with Logical Forex. Would that be “Life Scalping”? :-)

There have been many of you that have stayed in close correspondence with me via the Support Ticket system. So, you know I’m “still here”… every day… for many hours. And, I appreciate your staying in contact with me. I encourage you to comment on this blog, or open a support ticket if you need help from time to time. Of course, the Logical Forex Premium Videos cover SO MUCH of exactly how to trade, I do find it encouraging that most people who have really committed themselves to ABSORBING the content of the Premium Videos rarely have many questions. They just trade. That’s quite fun… especially when most of what I receive are great reports of consistently successful trades.

While I continue on my current projects, my postings to the blog will also continue to be less than I would like to do, but I do hope be able to post a bit more frequently, probably starting late next week. I do ask that you continue to be patient… because what I’m working on is FOR you. And… there are LOTS of materials and trade examples already posted to this blog… and it will most definitely be helpful to you if you review the trade examples and watch the videos SEVERAL TIMES, and then do it again. You WILL learn “new things” each time you do this, especially as you gain more experience.

I will also be posting more “mental things” pertaining to trading. So much of what we go through in trading forex is MENTAL. It is “putting it all together”… the “mechanics and logic” of trading along with our mental perspective… that makes us a profitable trader. And, that’s what we really want, isn’t it?

Okay… I will leave you with a trade from a little while ago…

### EUR/USD Market Structure

I hope you see some structure here. :-) In addition, if you “divide the chart” as I teach in the Premium Videos (and even cover a bit in the Quick Start Videos you get with your trial), we are most definitely at a “Decision Point” in the market. Now we have to decide what WE are going to do.

EUR/USD Market Structure

EUR/USD Market Structure

*** TRADE #1

I *always* manually draw these little arrows as best I can to reflect approximately where I enter the trade. It isn’t always easy to make these arrow match exactly to where my fill occurred, especially when the “little gray triangle” is in the way. That gray triangle is what NinjaTrader puts on the chart when you “scroll back” to show a trade. Anyway, I mention this because there are still some people who ask if those “red and green arrows” are drawn on the chart automatically. No, they aren’t. And, that doesn’t even make sense given the way Logical Forex works. I’ll cover that some other time (again)… but I’ve already covered it dozens of times on this blog (and elsewhere).

So… I was quite confident that this trade was a decent setup, so I want to “load up” on my lot sizes when I have made that choice. That means that even with a “small pip profit”, one can make a LOT of money with LOTS of LOTS. :-)

Quick Scalp EUR/USD

Quick Scalp EUR/USD

Exit #1

Now, you’ll notice I didn’t “hang around” or “hold on” to this trade very long. Yes, it did move upwards another 5 pips or so, but… as you already know, I like to trade with No Stress… so I did my usual “in and out quickly”… and it netted a little over 5 pips (including commissions). So, within around 1 minute, and a large lot size trade… it has been a Good Day. ;-)

Quick Scalp EUR/USD

Quick Scalp EUR/USD

There are numerous times during the day when this kind of setup happens. Mostly it is around a time when a market “session” is opening or closing… meaning when “Europe begins or ends it’s trading day”, or Asia, or the US.

Plus, knowing this, there is simply no need to spend long hours sitting at the computer staring at charts. Just determine a good time that works for you, find a corresponding “open or close” of a market session, and you’re already in a great position for winning trades with the least amount of effort.

Well… I have to get back to my projects that I’m working on for you. I’d sure love to hear from you. Talk to me below with a comment. It may take me a bit of time to respond, but I certainly will.

See ya again soon.

-Greg


9 Responses to “Can I Start Life Scalping?”

  1. Greg says:

    Hi Graham!

    I typically allocate 30 minutes to 1 hour for any trading “session” I choose to trade. In effect, that’s what I mean when I say “around an open”.

    So, for example, at the primary London open, I will most often be sitting at my computer at least 10-15 minutes before “the open”. Then, if a trade is available and I choose to take it, most of the time it is profitable (and low stress). ;-) And, usually what this ultimately means is that I am “finished for the day” within 30 minutes or so. I may continue to trade, but I will usually do so with smaller lot sizes. I don’t want to “give back” my profits just because I have an itch to continue trading… and yes, I do have that itch all the time. I love forex trading!

    Of course, I will allow more time for trades to develop. It depends on my schedule and other demands on my time, and also on my mental and physical conditions at that time. If the market doesn’t provide good trade setups, or if I’m “out of sync” with the market, then I don’t trade, and it truly does not bother me. I want to trade ONLY what I want to trade and when I am in sync with a logical market… and not “demand” the market does “anything” just because I need “$x per day”. The market doesn’t care that I need to make “$x per day” or if I’m sitting at my computer or not. So, if I don’t get a trade opportunity, then I’ll “reset my brain” and either continue watching the charts, or wait until the “next” open/close or other good times to trade.

    I cover this in much more detail in the Premium Videos. In fact, I show a way to see particular market cycles that happen all throughout the day… and especially around opens/closes. When taken all together, it makes my trade choices zero-stress and a lot of fun… and consistently profitable. If you look closely at most of the trade examples on this blog, there are plenty of “clues”, too. :-)

    -Greg

  2. Christger says:

    Hi Greg,
    Great to see you blogging again!
    Next year, I will not trade from Dec. 20th to Jan. 10th, as I found that such a difficult time to trade, as I felt the market was just so up and down, and slow, and because I was antsy, I traded and lost. Did you trade much at that time?

    Greg, I read above that you love to trade but wait for those market open and closes, and of course those ‘special’ times around the clock as you mentioned are when things set up. Do you do flow flips very often? As I notice one can gain lots of pips when the price changes direction, and breaks through the spine and continues. I have played with this, but I find it is risky. What is your thought?

    Also, how do you stay away from trading, as I am finding I can be quite trigger happy, and get myself into trouble. What do you do when feeling that way? I know you mentioned get up and walk around the house, but I do that, and come back to trade.

    Even in the overlapping Euro/USD of 8 am. to noon EST. I find I am glued to watching the forex because I am watching for those ‘special’ times in 60 minute periods for the right set ups. What do you do?

    I am getting better at watching for the ‘pretty’ flows, and have successfully traded, rather than getting burned from sudden shifts in the flow. It’s not easy, but it is coming along. Too bad their wasn’t a magic mirror, or one of your indicators to signal when to click the button! Now that would be incredible! Is that what you are working on??? LOL

    Anyway, great to hear from you, and I can’t wait for more…
    -Chris

  3. Greg says:

    Hmmm… no trading for you from Dec 20 to Jan 10…. hmmm… you didn’t see me post a lot during that period did you? :-) I did take some trades during that time, but I didn’t post (for a variety of reasons), but one has to be VERY careful trading during the Holiday Season.

    Flow flips? It seems you have gravitated toward those “since the start”. They aren’t aways the easiest thing to trade “at the moment they happen”. I usually wait “just a bit longer” for the “flip to be noticeable” to me… then let the first little Magnet Dance happen… then trade if the conditions still look good. Yes, I do try to get in “as near the flip” as I can, but not so early that I’m just trading in a consolidation period while the market is “reorganizing” to go a different direction. Our “special times” tend to help me “organize my own considerations” then… and so does the overall market structure.

    Our addiction? Well, I covered that with some “vigor” in the Premium Videos. ;-) It’s is critical to your long term success to be able to STOP TRADING. Every trade one takes tends to “weaken” our ability to be “reasonable” and also “feeds our addiction” to trade even more… especially if the addiction is not “giving us the same high” as it previously did. This is very dangerous when we are losing trades (or whatever the effectiveness of our “drug” is.)

    The simplest and easiest thing to do is to (a) significantly reduce your lot sizes, and (b) trade out of a “piggy bank” account separate from your Serious Big Lot Money Making Account. There are other “tricks”, but this is something EVERYBODY should do immediately(!) if you have a trading addiction… and I’m not exempt from that either. ;-)

    You are also expressing some things, too, that ALL of us have… some “mental conditions” that effect our trading and even our life choices. As I mentioned, I’ll be posting more “mental things” later. You can be sure… just about EVERYBODY has the same “afflictions” when it comes to trading… AND THEY CAN BE OVERCOME with some diligent practice, decisions, and determination. I’ll explain more in the near future. I’m not quite sure how I’m going to deliver this information… but I’ll let you all know here or in an email.

    As I say to you frequently, you’re doing very well. I know you want to do better. And you will. You’re still fighting some Normal Human Stuff… but you’ll get that working like you need to quite soon. As I said.. it’s a matter of practice, decisions, determination…. and commitment… and you most definitely have all of those things!

    -Greg

  4. Christiger says:

    P.S. – I am watching your videos again and doing market replay. Like you said, one can never stop. I HAVE lost a bucketful of $, but it is not due to your instruction, it is my resistance to follow your logic that always gets me into trouble, because if I do what you do, it works. – I need to break this habit, and do what you do consistently. I am just finding it very hard, as like I said, I have become trigger happy. What is the best way to break this habit and get back on track? I know you have repeatedly told us how and when to trade, but aside from putting handcuffs on me, I would love to hear you come up with a mental instruction that I could think of every time I get trigger happy. ( Aside from the obvious, you’re trading too much too often, and you’re gonna lose $) I know that, and that is obvious, but I would love to have some other verbage that you can share to help me through. I know the ‘don’t trade often, trade with bigger pips less often,” but what else can you suggest I mentally think of to stop trading so often. I want to treat this like a business, and not like gambling, so I need to slow down my trigger finger.

    Have any of your other subscribers felt the same way, and if so, what did they do to change up their thinking?

    Maybe I should stay away from flow flips and just get back to basics of the flow and magnets, but those price changes look so inviting! Yell at me if you will, I need your feedback, whatever you send my way, either privately to me, or in this blog post.

    -Chris

  5. Greg says:

    Frequently our biggest challenge in trading involves a strange relationship with our desire to be “unique”, or “rebel nature”, our addictions, and so on.

    We all want “it” to be “mine”. In other words, we want to apply our own unique “twists” to all that we do… AND THERE IS A TIME FOR THAT AND IT IS VERY IMPORTANT.

    However, when starting something “new”, it’s best to apply what you have learned, and apply it step-by-step. Consider a professional in ANY skill, let’s say… a musician. They started out playing basic notes. Then scales. Then maybe a few lines of melody… “Happy Birthday To…”

    At that point, they are ALREADY ADVANCED PAST MOST OF THE POPULATION. Whether that person is 10 years old, or 70 years old, they can “do something that others can’t”, at least on their Instrument of Choice… trumpet, clarinet, EUR/USD.

    Over time, they are able to “see and understand” more elaborate sheet music. Some may never get good at that, and choose to “play by ear”. But, over time, they develop and perfect a skill USING THE BASICS… and not much else.

    Now, for a person who is already an accomplished “piano player”, looking back at those “trivial things” (!?!) that were done “early on”… looks… “Real Simple Now”… why doesn’t EVERYBODY “get it,” that piano player asks.

    It’s not a fair question for the accomplished piano player to ask. It shows disrespect to a New or Relatively New piano player who so desperately (and committed-ly) wants to know and leanr and apply.

    But, the professional piano player knows… that no matter how much the New or Relatively New piano player WANTS to Be a Pro… it is going to take time and effort… and one must actually “play the trivial (!?) music”… and build on that… and build on that… until ultimately… the “original stuff” looks, well, Trivial to the Not So New piano player.

    Logical Forex shows you “the sheet music” in just about any way you want to approach it… a simple “Happy Birthday To…” melody, or a comprehensive orchestral production. Even with that, as long as you play YOUR instrument, and practice (the pro musician practices every day, right?)… and determination.. and commitment… well, you’ll never feel overwhelmed just playing the parts you know VERY well… and advancing as you can when you are ready for the “next step” in “reading music”. And only YOU know when to do THAT!

    Someday, you might even want to be a conductor of an orchestra, and write the music for all the different instruments, and put it together in a comprehensive piece of sheet music… or a Logical Forex Chart. Even then, just focus on the Instrument YOU play…. play the notes YOU know, and progress as YOU are ready… without breaking your fingers pounding the keys because of your addiction (or even your determination!). Relax and enjoy the music.

    And… while you’re at it… go back and ready your last paragraph… and realize you have answered your own question. Blend that with what I have said here, and… Relax and enjoy YOUR OWN music…. even if it’s just “Happy Birthday To…” for a while longer. You WILL continue to advance and improve… but play the notes YOU know at THIS moment.

    -Greg

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