Forex Trading - Three Strikes and You Are In! Scalp

[dhanjots]

Hey Boris, I like it!! i'm going to test it out on AUDUSD and AUDJPY during the first two hours of the Asian session.

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[BKTraderFx]

I trade this only on euro gbp and yen let me know how it works

[dhanjots]

Hey Boris, I think it's a good thing you onlt trade this on the three above pairs. I tried it with audusd and audjpy for a week, maybe those to pairs just had a strong up week, but hereis' my resuly anyway:

audjpy: 1 long, 3 short, all losers. avg time in trade - 17 mins.

audusd: 1 long, 3 short. one short was a winner, the rest losers. avg time in trade - 33 mins.

will try on the gbp pairs next!

-george

[BKTraderFx]

This setup requires tremendous liquidity and good two way markets that's when reversion to the mean works best, so that why I focus only on euro yen and gbp

[jnevins]

My favorite TF is 5 min. also. Thislesson is a good reminder about rubber band theory. Price can go out on these excursions but always needs to seek equilibrium. Also a good lesson in the necessity of having an agile mindset as a trader. I love that you start the video with the statement that you of all folks is here to remind everyone that fundamentals isn't everything on these short term opportunities!

[BKTraderFx]

RFLOL - thanks for the kind words. I believe that to be good trader you need to be mindful of both techs and funda - that why its so hard

[BKTraderFx]

Vanmojo999 :"

Absolutely correct that's why you need to be accurate 70% of the time to overcome transaction costs

[Vanmojo999]

After the spread you'll only make 9 pips at most on the EUR/USD (8 pips at GFT). So you're paying a handsome commission/expense of about 10% to 30%!

[MrYousaywhat]

Boris: Great simple technique. Question - Would you use in another timeframe say, 15min or 30min? and does it work the other way ie sell on 3 up closes?

[BTrull]

I use the 3 minute time frame , I trade with GFT, same basic set up . I will look to my RSI , for warning signs

[jnevins]

Thanks Boris! I saw your SFO article... I appreciate what you are doing here....

[dougoo6]

Really enjoyed it - another great one!

[tekmnd]

Well explained, Thanks

[rnp1thx]

Thanks Boris!