Scalping with guppy MMA system with money mangement - Page 2

madpoet · #11 01-10-2009, 08:09 PM

So what's the rule of thumb on the SL... is it just a gut feeling about 10pips vs. waiting?

^eagle^ · #12 01-10-2009, 09:31 PM

What I am finding out about this thing is its amazing adaptability.

There are some other rules after the cross to enhance your trading and make it hold longer.

I got a whole months worth of materials to pour over on this subject.

This is not the holy grail but it is definelty what i am looking for.

As for as my digging prowess. I am on vacation from my dayjob this week. And I;m spending the majority of it on forex.

I will be spending some time with my daughter. SO after monday I will have a lot less time to work on this. Good thing I got FAP to trade for me while I study.

maxfactor · #13 01-10-2009, 11:22 PM

Eagle I am looking at the 5 and 15min chart of the EUR/USD and correct me if I am wrong but isnt there a 200 plus pip potention on both of them?

^eagle^ · #14 01-11-2009, 08:15 AM

Quote:

Originally Posted by maxfactor

Eagle I am looking at the 5 and 15min chart of the EUR/USD and correct me if I am wrong but isnt there a 200 plus pip potention on both of them?

Yes that is the chart of NFP friday. I uploaded A pic of that chart and showed you where I hopped in and out on NFP. As you can see a pulled out way too early.

In the meantime. The higher probability trades will be sells because all the moving averages are above the price. so sels are much safer to place than buys. This will continue for quite some time. Which will drive the price down.

\Next stop is 1.32. then possibly 1.24 who knows how low it will go now!

There may be a retrace rally next week up but it is not sustainable unless there is some type of catstrophe here in the uSA.

^eagle^ · #15 01-11-2009, 08:20 AM

Quote:

Originally Posted by madpoet

So what's the rule of thumb on the SL... is it just a gut feeling about 10pips vs. waiting?

Stop loss is just a standard stop loss used for scalping. cut your losses short and let your profits run. never argue with the direction of the market.

I reccommend a maximum stop loss for scalping to be 10 pips plus spread.

madpoet · #16 01-11-2009, 08:30 AM

Sorry, I meant TP not SL

Been reviewing the last few days data to look for opportunities.

^eagle^ · #17 01-11-2009, 09:22 AM

Ok guys. Alan has his new forex forum up so I'm taking this thread over there. this forum is specifically for FAP and FAPT so I will continue to post my signals for FAP here but my ventures into forex will be posted over there.

Come join me there for a continuation of this topic.

Lets go sign up and show our appreciation to alan for settign up our community.

forexnirvana.com