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FREEMAN-WITH-TRADINGPLAN
Dec 1, 2023 5:20 PM

Intraday Momentum Scalping Strategy | Walk-Through | Dec 1 

Gold vs US DollarPepperstone

Description

It was a good Friday in the markets to apply my SIMPLE intra-day momentum scalping strategy for beginners and advanced traders.

The instruments I'm trading are Gold, S&P500, EUR/USD, and GBP/JPY.

Everyday is the same process:

Identify an intraday directional bias

Identify the key levels

Identify trade entry triggers

Manage the trade with attention to "Actual Risk"
Comments
AL_KhalifaFX
Simple yet efficient strategy, thanks for sharing mate!
FREEMAN-WITH-TRADINGPLAN
cutlossking
once again. the main bias here is HINDSIGHT BIAS! also exdecution of your ideas is wide open and these candles are being created during the 30 minutes not boom. here i syour candle, appreciate you looking at the mkts and explaining some stuff that you are seeing. have you posted any of your live executions on a chart with buys and sells and also your statement adn or your time and sales. time and sales and excutions should go out beyond the hundredths of a second when real. not attacking you at all but there is serious HINDSIGHT BIAS when dealing iwth any strategies on a 30 min bar chart and the bars have already been created. scalping is rarely doen on a 30 min chart. perhaps a day swing on a 30 min . goodluck and happy teaching.

MOst people really would be beter off just trading their opwn small account with the smallest fx amoutn allowed or the smalles micro contract allowed with real money. looking at charts is baisc . drawing lines is basic. a 3 year old can do it! the money is made by the buys and sells the action of trading not the chart. in the heat of battle do you add do you suntract do you retreat or do you reverse and join the winning side to only sneak atack them later with a double volume offset?

if it is working for you great but seems to me you are getting long and short way way way too late imo. you are playing on the EDGES or WINGS of the distribution and this is dagerous not to mention that in order to grow in sixe you need a consistent amount of volue ot support what you are doing and you do not want to be the one who stands out the most you want to stay hidden as long as possible becasue in real time algos will gun for your orders since they are filling them in the first place and they do not want to lose even a dollar and thats not a joke. in a world of trading where at the end of the day per contract .. profits on average are less than 50 cents then you can see if they take 12.50 fromyou or more and even less in the micro then they are winning big! so every contract matters to them. they do not fill unless they think they have the advantage and if they dont have the advantage then they can and will create it!!!

this is the main point that demo accounts never understand. how is it that i can make money in a demo account so easily and not a real account? the pros lol will tell you well son it is all psychology but the reality is NO NO the hell it is not psychology it is the fact that when you put in a 1 lot order and it is filled and is live..it thne triggers events and trades that are set up to go agaisnt you and every other chart jockey out there!! the computer systems unerstand and know who thye are filling based onthe trading behaviors and what they are filling and the types of orders they are filling. if its a machine or a human. so the market impact of your live one lot is much bigger than you can imagine but you will never see this in back testing or demo accounts.
FREEMAN-WITH-TRADINGPLAN
@cutlossking Keep practicing
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