Posts Tagged ‘forex scalping’

Forex Scalping Before Work Begins

Thursday, June 28th, 2012

Well, it sure has been a while since I last posted. There have been a lot of things going on in my part of the world. Fortunately, things are settling down somewhat – which gives me some time to post.

I have a lot going on today, and little time to trade. But, I opened my charts before I had to hunker down on some work and saw something worth looking further into.

Take a look…

 

*** EURJPY Market Structure ***

Range

EURJPY MARKET STRUCTURE

 

Price had experienced a rather large move down. More recently, it was trading in a range, edging up very slowly over the last several hours. It had been spending quite a bit of time around the Blue Magnet Lines.

 

*** EURJPY Scalp Enter ***

Magnet Line Dance, Momentum, Breakout

EURJPY SCALP ENTER

 

Price was once again interacting with a Blue Magnet Line.

Let’s take a look at the Indicators…

  • Logical Forex Activity Lines – Starting to widen, as it gets closer to the U.S. open.
  • Logical Forex News Alert – None showing.
  • Logical Forex Flow Lines – Price is coming out of somewhat of a trading range. Most recently, you can see all the stacking yellow – showing Price consolidation. Then, the Flow Lines start to fan out. The Spine is almost fully revealed.
  • Logical Forex Phase –Tracking along nicely with Price.
  • Logical Forex Bias – Pointing up.
  • Logical Forex Magnet Lines – As you can see, Price is dancing with the Magnet Line. There is a very nice dance right on the Magnet Line (my favorite) and then Price accelerates through.
  • Logical Forex Watchdog– It is barking yellow just prior to the trade opportunity. Notice it is solid bright yellow at the time I will pull the trigger.

Time to enter a BUY trade just as Price starts its acceleration through the Magnet Line.

 

*** EURJPY Scalp Exit ***

Acceleration, pull back

EURJPY SCALP EXIT

 

Price climbs steadily, only hesitating briefly shortly after I enter. I choose to ride that out. At the time that Price actually pulls back, I exit with some nice profits. Some braver folks might have held on until Price crossed the Groove at 98.90, but that is definitely more aggressive trading. I choose to be happy with my pips collected and can move on with my day.

***

If you haven’t tried Logical Forex yet, what are you waiting for?

Happy Trading!

-Scott

 

Price Action + Magnet Lines + Patterns = Profits

Monday, June 11th, 2012

Hello!

It’s been a while… Scott has been doing most of the blog postings the past several months. He is really an incredible trader and has a special ability in communicating clearly. His posts are a joy to read. I also get joy from knowing that he, and many others, are continually benefiting from Logical Forex. That was my goal, long ago, when I made Logical Forex available to the public. I am constantly amazed at the success people have reported to me that they have achieved with Logical Forex… and they all have the same basic traits, and they all pretty much went through the same paths to become great Logical Forex traders. You can do the same thing.

We go into a lot of depth in the Quick Start videos and the other training materials on exactly how to trade Logical Forex: what to look for (patterns), how price action works (Flow Lines) and where decisions are being made by Big Money Traders (Magnet Lines). These are the primary things you need to be a consistently confident Logical Forex Scalper and Trader. (Yes, you can make regular scalping trades, or hold longer for more of a “regular trading” approach, and we get into each of these approaches in our training.)

I’ve made a video for you that will show you how, on this particular day, just about every interaction of Price with a Logical Forex Magnet Line, was a reasonable trade. I also show you those cases where “things just don’t look right”… and we need to skip the trade.

This video is a light taste of what you get in our training materials. With the standard Logical Forex Indicators and training materials, you can be very successful. And, with the Logical Forex Premium videos, even more so. We have everything setup for you so that, no matter how serious you are about becoming a professional trader, we can help you. You can start at a level you are comfortable with, and continue moving forward with additional things that will make your trade selections even better… things like Market Cycles and Market Structure, which we cover in the Premium Videos. Again, you can trade very well from the standard training materials. Your success depends entirely on your commitment to yourself… and we’re here to help you become the trader you know you can be, and deserve.

This video runs about 20 minutes. I cover every Price interaction with a Magnet line during the European Session and the New York Session. There were a few trades I passed on, and one that didn’t work out (which I would not have normally traded, but others might) – and the rest of the examples were good for 3-10 pips or so. I’ll let you discover (when you view the video) how many of those trades happened, how the patterns looked, and what I used as “go” and “no-go” criteria. ;-)

Just imagine how much more is available in our training materials… and then, even better, imagine how when you apply what we share with you, how with some practice and commitment, you can make your scalping and trading life a lot of fun!

Please note: click the video to play it, and then click the [] in the right hand corner of the video to enlarge it.

 

 

See you again soon!

-Greg

 

Why Force a Trade?

Friday, May 4th, 2012

Well, I just wrapped up a very grueling week of travel. I didn’t even have time to open charts once this entire week. That’s ok, because forex scalping with the Logical Forex Indicators will always be there – ready and waiting – to fit into MY schedule.

***

One of the most significant things we try to get across in our training and instruction is this – DON’T FORCE TRADES! If more people would listen to this simply piece of advice, they would be consistently more successful in their trading. Anybody who has it in their heads that they need to make a certain amount of pips per day – or even per week – is mentally setting themselves up to force trades. Think about that for a minute. Can you see how truly self-defeating that could be?

With Logical Forex, you have the ability to wait for an optimal super-high probability setup. Sadly, many people will trade Logical Forex simply as a breakout system – whenever price breaks the Magnet Line, they take a trade. Why? Because they are not patient. Because they can’t sit by and pass up a possible trade. Because they need to make their daily or weekly pips. I say, stop the madness!

  • Trade forex like a business.
  • Quit treating it like some sort of hobby or mindless entertainment.

Some business owners will go through an entire day and not make a sale. Why is it so hard for somebody trading forex to proceed under the same mentality? Don’t believe all the hype that is perpetuated within the forex industry. Trading take skill and practice, but is also take patience. Not taking a position in a trade is still taking a position – a position to preserve your trading capital. Got that? Sitting on the sidelines is not always a bad thing. Most of the time, it is a smart thing.

If you will sit and wait for that optimal trade, you will amaze yourself at how quickly you can build up your account size. Don’t believe me? Check out the Secret Forex 4.2 Formula. Compounding is one of the most beautiful things in all of finance. Instead of thinking so short-term (I need to quit my job tomorrow, I need to make a million dollars next month) think more medium or long-term. Think thinks like in a few years I can pay cash for a new car, or I can pay my house off much sooner, or I can build my nest egg for retirement. This will take much pressure off of you to perform in your trading every single day or week, and by compounding you will soon see how forex trading can help you fulfill your goals. Honestly, when you take that sort of pressure off yourself, trading does become much more fun – and much less stressful.

Be patient, be diligent, and be smart about your trading. Stop forcing those trades!

***

Happy Trading!

-Scott