Are you a Serious about Forex Scalping? Or Just Playing?

Summer time in the Northern Hemisphere. Ahh, yes… hot temperatures. Lukewarm markets. It seems to be this way so often, year after year. That’s not a bad thing, it’s just a thing to get used to, and to make adjustments in our trading.

We only want to trade the best patterns, as always, but it sometimes requires just a bit of patience to wait for them to happen this time of year. With some experience with Logical Forex, it becomes easier to see a broader range and type of patterns, so the patterns that you can trade DO still appear quite frequently.

So, how can you see a wider variety of patterns? Well, first of all, you practice. Regularly. Just like a true professional does, even when they are at the “top of their game”. And, you need some reference points, too. You ARE using the Logical Forex Pattern Matching Library, right? Be sure to read both the Introduction AND “Step By Step…How To Use The Pattern Library”. And then practice. And do it again. And again. And do some Market Replay. And again. Be serious and committed. You will be rewarded with results you cannot imagine… and rewards that you cannot otherwise have.

Let me give you an example of a pattern that happens very frequently during the months of around July and August. In some ways it is not “pretty” – but it is something you can trade. Successfully. Confidently.

### EUR/USD Market Structure

EUR/USD Market Structure

For those of you who have the Premium Videos, you will notice some particular things about the structure of the market… such as price approaching a Logical Forex Magnet Line within a particular market structure we like . (You don’t HAVE to use the market structure in selecting a trade… it just increases the probability of a successful trade, and increases your confidence.) So, I’m paying attention, and preparing to trade. (Where are my eyes focused?)

*** EUR/USD Trade #1

This was fast. My eyes were already focused on the Broker Quote Panel as soon as I noticed the market conditions shown in the Market Structure Chart above. When price moved on the chart, I was ready to take the trade. Price moved fast, and so did I.

EUR/USD Scalping Fast Entry

When watching the Broker Quote Panel, as I explain in depth on the Premium Videos, and also in the Quick Start Videos that you get included with the Logical Forex Indicators… you don’t need to “wait for a breakout” or any such thing. Logical Forex Magnet Lines are NOT support/resistance lines, and you don’t trade them like a breakout. Magnet Lines represent DECISION POINTS, where the Big Money Traders are making decisions… and exactly where we want to trade too.. WITH the direction of their trade.

*** EUR/USD Exit #1

EUR/USD Scalping Fast Exit

No need to hold long here. No stress. In and out quickly. Stop trading for the day, unless, of course, you just want to continue. If that’s the case, reduce your lot size, and continue. My preference generally is to make One Big Trade (with many lots), and then stop for the day and do Something Else. (And, I will tell you about “something else” in just a moment.)

So, let me ask you a question…

Are you really serious about your forex trading? Or, are you just playing?

Why do I ask? Well, I maintain some extensive log files so that I can see how people are trading with Logical Forex, and how much effort they put into reading and using the training materials. You’d be surprised.

Now, I can’t actually see your trades or anything like that, but, I do get a notification when people open a chart that is, well, “non standard”.

What do I mean by “non standard”? Simple. I give you an incredible amount of materials that will train you exactly how to absorb, apply, and use Logical Forex to make a consistent profit. I give you a Checklist that takes you through the steps and path that I personally have gone through… and tested and proven and use every day in my own trading.

In effect, I am providing to you tens of thousands of hours of  my own efforts… my own research… the ways I have succeeded and overcome failures… ways to achieve a true mental edge AND a trading edge.

Are you leveraging off of that so that you can more quickly absorb and apply and trade Logical Forex? Or, are you “playing” by tweaking, and trying other “time frames” or “other currency pairs” than EUR/USD and EUR/JPY, or even entirely different instruments?

Please don’t misunderstand what I am saying! If you are having success with your own “tweaks” – THAT IS WONDERFUL! Keep doing what you are doing!

But, starting out by “blazing your own trail” and trying all sorts of different combinations of things you THINK MIGHT WORK is just a PROVEN way for you to torture yourself and never be able to trade like you KNOW you are capable.

Start out with the materials I provide to you… train and trade with the pairs I have so carefully researched and proven to be the most profitable (and easy to trade). Yes, you CAN trade other pairs and in other ways… but, at least allow yourself to “take the recipe as-is” and set this into your brain first… and then make your adjustments. You WILL find this to be SO much easier! And, you get to “borrow my brain and experience” that way… IMMEDIATELY! Do it! I have worked hard for you so that you don’t have to!

Press your reset button and read the Getting Started Guide. You’ll find a link to that in your Windows “Start” Menu. Or, you can access it from the Menu Bar near the top of this page. Print the Checklist and follow it! (You’ll find the Checklist in the Getting Started Guide, too.)

By doing these things, you WILL increase your success rate in your trading enormously… when you truly take advantage of the training materials I make available to you. Be serious and committed to YOURSELF!

Now… about that “something else” I mentioned…

I do apologize for not being able to post to this blog very frequently the past several months. To be open with you, life has been very challenging. There have been some significant health problems in my family… the kind that are completely draining and mentally exhausting. And so, following what I ask you to do, I do for myself… not trading at all, or when trading, doing so very cautiously with limited lot sizes.

So, yes, I have been trading… but not as regularly as I would have preferred. Life is that way sometimes. And, when I have finished trading, I simply have not had the time, nor the energy to post here. Of course, “in the background” I have continued to have some wonderful “conversations” with my most loyal Logical Forex Trading Family Members. We’ve talked about trading… and more personal things. I thank you for that, and for understanding.

But, bigger things have been happening specifically for YOU…

As so many of you have already experienced… Scott has been doing regular Live Webinars. You can register for them at http://www.logicalforex.com/webinar/ — for a while they will continue to be free. Then, we will likely begin charging a fee, or perhaps some other “qualifier” you must meet before you can attend. Take advantage of us while you can. :-)

In addition, Scott and I have put in so many hours and so much effort that I have lost track. On what, you ask? Additional training materials. More  ways to help you. More ways to deliver even deeper trading information to you. With Scott being a Professional Trainer, you can only imagine what we are doing for you… and then expand your imagination… and you’ll still not be even close to what will be available to you.

The bottom line is… if you are truly serious and committed, you will be able to benefit from our experience, and really leverage off of what we provide to you. We have “blazed the trail” and “made the path” and you will be able to take advantage of this in new ways… in addition to what we already make available to you.

Of course, I have to tell you this too… there is no need to “wait” for anything. The things we are doing for you are always “additive”. In other words, if you are already part of the Logical Forex Family, you will always benefit in special ways from the things we provide. So, getting started “now” or “later” is entirely dependent on how serious and committed you are to YOURSELF Right Now. If you’re ready to get started… then get started with Logical Forex right now… and you may receive some extra benefits when we release our newest training materials and delivery methods. Do whatever you know is right for you. We never want you to feel any pressure. Logical Forex Trading is supposed to be fun… and if you allow it to be it ALWAYS IS.

I’ll see you again soon.

-Greg

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7 Responses to “Are you a Serious about Forex Scalping? Or Just Playing?”

  1. Rod Rosentreter says:

    Hi Greg, It’s good to hear from you again. In fact, it’s probably more exciting when I DO hear from you after a period of time as I tend to APPRECIATE you and your hours of effort for us more when I DO hear from you. Although I hope and pray that your life challenges are easing and you can communicate more often.

    You are so spot on knowing that we all tend to do our own thing at times instead of following the Master. I have tried a few of my own tricks when things seem to be failing instead of practicing the proven method. I was going well with a real ah..ah feeling and the few weeks ago things started coming unstuck. Then I remembered the time of year and how ugly the market patters were getting and I was forcing trades that weren’t really trades, so your word of encouragement is very timely.

    The best tool that you have presented to us, I believe, is the pattern library. I use this every day before trading just to remind me what a trade should look like and it has helped me tremendously.

    The webinars have beem great…thanks Scott….reminders of what we should be doing. I have had some challenges with internet drop-out here in Fiji, but hope it is being resolved.

    I recently read about trading, “When trading, focus on the trade, not on the money”, which can be difficult when we’ve had a couple of losing trades. and it continued, “A surgeon, performing a critical operation would be focused on the task at hand, not how much money he was going to make from the operation.”

    I’ve got to learn to take fewer trades and be more patient for the high probability trades. Thanks Greg.

  2. Greg says:

    Ron, you are exactly right. Using the “right broker” with good spreads, good liquidity, and good fills is critical.

    Most people trade with Market Makers, who by their business model “trade against you”. In other words, they are always the one who you buy and sell to… the “counter-party to your trade”. With ANY style of forex trading, but ESPECIALLY forex scalping, it is best to use and ECN or DMA broker.

    I have some specific brokers and direct contact info that I provide to you immediately when you get started with Logical Forex. You can find it in your Windows “Start” Menu after you have installed Logical Forex… about 15-20 minutes for most people… and in addition to the recommended broker list, you also get access to the training materials like Pattern Matching Library, the Getting Started Guide and Checklist, the Quick Start Videos, and many more things.

    It is NOT difficult to learn the “mechanical aspects” of Logical Forex. In simplest terms, we watch the Flow of the Market, making sure that the market is active and there is a good market structure, and at Decision Points where the Big Money Traders (banks etc) are trading (shown to us by Logical Forex Magnet Lines), we trade WITH those Big Money Traders in the direction of their trade, take our profits out quickly, and then go have fun during the remainder of the day doing other things we enjoy.

    Using an ECN broker will make an incredible difference in your ability to take profits from the market. Find one whether you use Logical Forex or not.

    -Greg

  3. Greg says:

    Hi Lance!

    Logical Forex is a lot of fun… and you’re enjoying it and being consistently profitable… and I am extremely excited to hear this from you! Fantastic Lance!

    I know this didn’t just “happen”. You have been dedicated, and practiced and truly been committed to yourself… and the results are showing for you. You have my greatest respect.

    Watching the broker quote panel? When I am about enter a trade, although I “see” (perhaps “notice with intent” might be a better term) a number of things… how fast the panel is “blinking”, a general observation of the spread… but mostly… I focus on the “side” of the quote panel that relates to the trade I’m considering taking. For example, if I’m considering a “buy”… then I have a laser focus on the Buy Quotes. Of course, I still “notice with intent” everything else that is going on, with only an occasional glance of the charts. The Logical Forex Indicators on the chart have already told me to pay attention to the trade and to “get ready to enter”, so the charts have really served their purpose at that stage of the trading decision. (Of course, this all applies the same way when I am exiting, too.)

    Yes, there are specific things that I look for in the broker quote panel. Go ahead. Guess. Ready?

    Patterns. The Patterns I see in the charts are also reflected in the “numbers” on the quote panel. Now, if I try “too hard” to “calculate the numbers” I see in the quote panel, then those not-so-pleasant predicting, and over-analyzing, and hesitating killers can kick in… and we don’t want that. So, I tend to actually “see” the numbers as just “symbols” in a way.

    Yes, I still know and see them as numbers, but numbers that make a pattern… sometimes a “sequence” (A-B-C-D or 1-2-3-4), sometimes some other kind of pattern (1-2-4-2-4-3-?-? or A-B-D-B-D-C-?-?). Pay attention to this example. I gave you a clue on “new and better ways” to watch your quote panel. ;-) Now — DO NOT PREDICT with this, you are simply watching for a pattern in the quote panel. And, yes, this too takes time, effort, and practice… AND EXPERIENCE to master… and when you can do this consistently… you will have achieved a New Ability in your trading. EVERYTHING LOOKS CLEARER. And, yes, there are even more ways to become even better. We’ll talk more about that soon on the blog… and elsewhere.

    Best times to trade? That always involves both you AND the market. You have to be physically “engaged” at the same time the market is “moving and awake” too. This is what I refer to so often when I say… “only trade when you AND the market are IN SYNC”. So, changing your time might help you trade in a little better market conditions, but you still must be “ready and able”. My favorite times to trade are what you mention… all of them. :-) I sleep MAYBE 4-5 hours a day, so I suppose in some ways, I can cheat and trade several great times of the day. :-) My preference? You probably can tell from many of the posts on the blog… the European open… both of them.

    Now, back to watching the broker quote panel (and the charts, too)… be sure to read the immediately prior blog post… Do you Fight It or Flow It? for a little different discussion about patterns.

    Keep practicing and watching the Premium Videos… and using all of the other training materials… and when combined with your obvious commitment to yourself, even greater things are ahead for you… and other traders who do as you have done and will continue to do. Go Lance GO!

    -Greg

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