Scalping University - Lesson 1 Classic Run to the 00's

[SilverShamrock71]

also 20 to 25ish pips is a common retrace in a momentum move, is 20 pips trail stop a little too tight maybe?

[SilverShamrock71]

boris, do you just make an arbitrary entry on a break of 20/80 or would you maybe look at momentum for confirmation? great tutorial btw, makes sense...

[Orthodoxforever71]

Very interesting.Thank you.

[raldyb]

hi Boris, in this strategy, the first signal we are looking for is the pair passes the .50 mark right? if it doesn't pass the .50 then it isn't a valid run? thanks!

[BKTraderFx]

@raldyb Correct

[pnewton69]

Very nice outline of round number trading. A few other ways to deal with 00s but this trending scalping version is very good indeed

[BKTraderFx]

@pnewton69 Thank you for the kind words

[gusdinsalvoforex]

VERY WISE TEACHINGS BORIS, I HAVE AROUND 3-5 YEARS INVOLVED IN FOREX TRADING AND LOOKING FOR THE HOLY GRAIL (THINK I WONT FIND IT ANYWAT) BUT REALLITY HAS TEACHED ME THAT A GOOD TRADER HAS ENTRY SETUP BUT A PROFITABLE TRADER HAS A TARGER AND THATS WHAT YOUR SYSTEM TEACHS TO US, AND SEEMS TO BE A VERY PROBABLE TARGET TO ACHIEVE BECAUSE, AS I MENTIONED BEFORE, HOLY GRAILS THAT ATTEMPT TO CATCH A 200 PIP MOVE ARE A VERY RARE SPECIE IN THE FOREX WORL, CONGRATULATIONS AND KEEP ON THE XCALPING U.

[BKTraderFx]

@gusdinsalvoforex Thank you but please no CAPS :)

[domg1955]

Thanks Boris. I will use this style with the US/JPY with fundies to back up, but I will enter a Yen basket say eu and au with the US JPY as the driver. If the trade works with the U/J then the other pairs will make the pip total much greater. Thanks again.

[BKTraderFx]

@domg1955 Can you give us more of description of the strategy. Do you look for USD/JPY to run 00's and then get into aud/jpy and eur/jpy at market? or do you then look for runs in those two pairs for 00's?

[domg1955]

@BKTraderFx I will enter the other yen pairs at market. I like to use theU/J as a proxy and if I think it's going to run the 00 then I noticed the pip total on the others while the U/J was moving 10-20 is usually much greater.

[domg1955]

@domg1955 not 10-20 but 20-40

[BKTraderFx]

@domg1955 Thanks very much for your insights.

[me2995]

Thanks Boris!