Patience Pays. So Does Good Timing.

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

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

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

Another Fast Moving Scalp - Click to Enlarge

Exit #2

I exited quickly when price bounced back quickly.

Another Fast Moving Scalp - Click to Enlarge

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

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

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.

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