Love to Scalp

For anybody who has been scalping forex for a while like me, would you say that you love it?  Sometimes its more of a love-hate type of relationship, but I digress. : )

For many reasons, I see Logical Forex as such a fun, stress-free way to scalp. Without having to babysit a trade, you can make money on a consistent basis. With a lot of focus, dedication, and practice, you CAN be a successful trader.

While I was getting ready to start my day this morning, I took a quick peek at my charts. I don’t normally look to trade at this time, but I was feeling the urge. That’s never a bad thing, as long as you only trade when the market presents itself – NOT just because you want to.

 

*** EURJPY MARKET STRUCTURE ***

Scalp, Structure

EURJPY Market Structure

 

As you can see, price was approaching some consolidated Magnet Lines. Based upon the market structure, I wanted to take a more zoomed-in look.

 

*** EURJPY SCALP ENTER ***

EURJPY Scalp Enter

 

Price was interacting nicely around two Magnet Lines. There was a tight dance around the first one. For the second Magnet Line, price did go directly through without a tight dance (which I generally prefer). Since I didn’t see that tight dance, I decided I would wait for a pullback to the Magnet Line and, if I did not see one, I would pass on the trade. Just that fast, price pulled back to the Magnet Line and started to take off again, which was totally noticeable on the Broker Quote Panel. Time to enter and try the trade.

 

*** EURJPY SCALP EXIT ***

EURJPY Scalp Exit

 

Price accelerated up at a nice pace. Once price on the broker quote panel started to slow down, it was time to exit – which I did.

 

If you are tired of going from system to system, now is the time to get serious with one system – Logical Forex. As we fast approach the holiday season, this is a great time to start. Wouldn’t it be a great way to start out 2012 – with a solid plan for successful forex scalping? Join us.

-Scott

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