Ninjatrader Journals

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best brokers for forex scalping-seven steps to forex scalping success

best brokers for forex scalping-seven steps to forex scalping success





Which are the best brokers for forex scalping ?I will try to point to the correct direction today.There is a global law for anything:

you get what you pay
The other general principal for our accounts is:
the more capital you have the better services , the less commissions and spreads you pay.
As bullet point we can mention what we are looking for in a broker

1. Brokers must allow all trading including scalping techniques
2. Non Dealing Desk / ECN
3. Clearly regulated.
4. Offering high leverage.
5. LOW SPREAD
6. No bad reports (Such traders do not get paid, etc.).

Many people don't understand this vital difference so I will explain it as simple as I can.

Firstly, you must know that almost all of the MT4(metatrader platform) brokers are running a "bucket shop".

http://en.wikipedia.org/wiki/Bucket_shop_(stock_market)

So when you are trading with an MT4 broker, your order is not appeared in the international interbank market, but it appears in the dealing desk of your MT4 broker.

Basically you are trading either with the server, or with someone in the dealing desk of your broker.

So while in demo you might be profitable but when you deposit real money for your live account ,"mystery spikes",(or re quotes,slippage,no executions) not appearing in any other broker close your positions with loss(stop loss hunting)

So your broker is earning from the spread and from the above "unexplainable spikes and events".

An ECN broker is giving you the interbank feed as it is delivered by the ECN network and he is charging commissions for each transaction.

http://en.wikipedia.org/wiki/Electro...cation_Network

So the broker earns only this commission and the feed you see is not manipulated.

If you want to see a pure feed you must pay a separate feed with monthly subscription.

The spread you will pay depends from the volatility and the pair in the specific moment.Pure demand and supply.You can see zero spread in EURUSD and some times in EURJPY.

The higher the capital you have in your live account, the lower the commissions will be.

Commissions vary from one ECN broker to another and if you are trading a lot of lots each month you can negotiate the commissions with your broker.

The lower the commissions you pay the higher the minimum of lots you are obliged to trade. e.g. Institutional accounts.

If you need any clarifications, I will be happy to answer.

forex scalping with ecn



[YOUTUBE]C3DMXvtL680[/YOUTUBE]

https://www.youtube.com/watch?v=C3DMXvtL680

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forex scalping 31 8 2015

forex scalping 31 8 2015

Today the day was very slow and choppy
We took two scalping trades one in eurjpy and one in gbpusd.
EURJPY delivered slowly the scalping target of 10 pips in approx one hour ,then for the next two hours stayed almost in the same levels but presented a high probability pattern I use and name as crocodile which saw north.
While I was waiting the pattern to deploy with small stop loss a short signal in gbpusd appeared and entered a limit order in the breath of the pair.
The order triggered but things went slow for this pair too.
While I was in this pair I have closed the eurjpy trade because I saw the reversal coming ,
Finally after almost one hour and in the starting of New York gbpusd delivered the scalping target and closed everything since the choppiness and slow market tired me.
This pair also tried to reverse just after I closed the trade by sawing opposite signal and then again reversed with a final signal which produced 60 pips.
The end of the month is always full of ranging and unexpected moves and today’s chartsÂ* and trading present this in a clear way.
All of the above is written in the two hour video.
[YOUTUBE]4fTkqVbzCFE[/YOUTUBE]

https://www.youtube.com/watch?v=4fTkqVbzCFE

Below you can check the three pairs we watch every day with the trades on and the remarks.

EURJPY

GBPUSD

GBPJPY

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forex scalping 1 9 2015 trading with the trend

forex scalping 1 9 2015 trading with the trend

Hello,

Today forex scalping was more smoothly than yesterday.

GBPUSD and EURJPY responded quickly approx one hour after the London open and start trading south.We took short signals in both but none of them took a breath .

The GBPUSD has probed lower in trading today - moving below the low prices from July and August in the process.

Approx 80 pips for pound dollar and 95 pips for euro yen.

Waiting with patience a retracement came in pound dollar three and half hour after London open in the median line.

Then a resistance is formed and the moment a double top formed in the trigger chart I have entered a short trade with nine pips stop loss ignoring a long signal whic was counter trend in the higher time frame chart.

Forex scalping target achieved quickly in less than 15 minutes and then left the rest with trailing stop.

Knowing that at 7.30 EST the economic announcement of Canadian GDP will influence the dollar I didn't gamble the profits and close the trade at 25 plus pips even if I saw 36 in a moment.

The problem is that there have been two breaks below this area. The first failed. The ensuing correction stalled near the 200 day MA at the 1.53635 (the high stalled at 1.53685). The second probe moved to new day lows and is back up testing that break area (between 1.5329-38). If the price can not stay below, the patience of the sellers may wain and the seller could switch to buyers instead.

ISM data is due. So risk is increased. The market will be looking for clues from the data. A more bullish number and new lows can be expected. If weaker, the sellers will likely become buyers again and we should see a rotation higher in the pair.

The whole trade is written in the video from the beginning .

https://www.youtube.com/watch?v=FCOvwa8B2SY

Here is the three pairs I watch every day with remarks on them.

gbpusd



eurjpy



gbpjpy



As long as you are new to trading and you are learning always look at the higher time frame and take your scalps and trades to the direction they dictate.

Counter trend trades are dangerous to your account and psychology.

Don't try to catch bottoms and top of the mountains you will bankrupt your account.

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Hello Traders,

Today the market was choppy and was lucking momentum.

We took two scalps.One in gbpusd during the European session approx 100 minutes after London open and one in the American session in eurjpy approx 45 minutes after DOW open.

In the first trade gbpusd gave as the most appropriate conditions since it moved in a very narrow range during Tokyo and gave us a signal after London open.

We wait with patience the retracement breath I like to call it and we entered in the trade.

The entry wasn't ideal but the pair gave us the scalping target after approx 20 minutes.Then the trailing begun and in a point we saw 25 + pips .After this we saw a support forming ,an opposite signal in the middle trigger chart and we wisely decided to take all the trailing profit and get out.As you see in the chart below we did well because the pair reversed.

We didn't touch eurjpy and gbpjpy in the European session since both of them moved in wide ranges during Tokyo. Approx 150 pips for gbpjpy 100 pips for eurjpy.

Then in the American session eurjpy broke the Tokyo range (Archimedes breakout)entered in a small retracement of 10 pips from the brake and took the forex scalping target as you see in the pictures for the two thirds of the position.

Left the rest on trailing but while the trailing stop reached the entry point eurjpy retraced and hit the stop loss.

So with these two trades we secured our primary target to remain consistent profitable one more day.

The first trade is written on video were I explain what I call Archimedes breakout (Tokyo range breakout) and the second is in the pictures below.

https://www.youtube.com/watch?v=PcXhPSdOwOw

The eurjpy trade. The entry



The hit of the scalping target



The trailing stop is hit



Our gbpusd trade

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forex scalping intraday trading 3 9 2015

forex scalping intraday trading 3 9 2015

The day was difficult initially because the two first trades hit stop loss.GBPUSD and GBPJPY had volatility during the night and they didn't producedÂ* fresh signals in the London open.In addition we had pound news.EURJPY on the contrary had a very narrow range during Tokyo and ranging for long hours.The pair produced a fresh signal a few minutes before London open so I waited carefully for a retracement.The retracement came and I enter the short trade.The minutes was passing and the pattern I call crocodile formed the bollingers in the trigger chart contracted and inner support and resistances formed .The breakout was eminent and it would be a large one after so many hours of ranging.The pair violated the resistance to the upside and due to high probability of breakout I went long to the fresh long signal loosing 5 pips in the first tradeÂ* .I was taking also a counter trend trade to my higher time frame chart.Some minutes passed and the momentum wasn't there.The pair started to fall slowly ,the pair pierced the support inside the range again and decided to try for third and last time short again .The procedure of the three trades took approx one and half hour.Placed the stop loss ten pips above and closed the platform .I have checked again in London close to find 162 pips in my intraday trade.Finally closed 158.Thursday have statistically very good intraday trades and they are consider from the trending days of the week.https://www.youtube.com/watch?v=YfSFAQqtTeQeurjpy trigger and main chart with marked trades on them and remarksMain chart eurjpy The other to pairs I watch daily gbpusd and gbpjpy

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forex scalping intraday trading 3 9 2015

The day was difficult initially because the two first trades hit stop loss.

GBPUSD and GBPJPY had volatility during the night and they didn't produced fresh signals in the London open.In addition we had pound news.

EURJPY on the contrary had a very narrow range during Tokyo and ranging for long hours.

The pair produced a fresh signal a few minutes before London open so I waited carefully for a retracement.

The retracement came and I enter the short trade.The minutes was passing and the pattern I call crocodile formed the bollingers in the trigger chart contracted and inner support and resistances formed .

The breakout was eminent and it would be a large one after so many hours of ranging.

The pair violated the resistance to the upside and due to high probability of breakout I went long to the fresh long signal loosing 5 pips in the first trade .I was taking also a counter trend trade to my higher time frame chart.Some minutes passed and the momentum wasn't there.The pair started to fall slowly ,the pair pierced the support inside the range again and decided to try for third and last time short again .The procedure of the three trades took approx one and half hour.

Placed the stop loss ten pips above and closed the platform .

I have checked again in London close to find 162 pips in my intraday trade.Finally closed 158.

Thursday have statistically very good intraday trades and they are consider from the trending days of the week.

https://www.youtube.com/watch?v=YfSFAQqtTeQ

eurjpy trigger and main chart with marked trades on them and remarks



Main chart eurjpy



The other to pairs I watch daily gbpusd and gbpjpy

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forex scalping 4 9 2015

forex scalping 4 9 2015,the crocodile pays again

Hello traders,Forex scalping didn't start well in the morning.Pound dollar and pound yen had a party last night in the Tokyo session with no fresh signals.Euro yen had a party last night after deploying a bear flag but had a fresh signal and a divergence pointing up.So I took the trade with the usual stop of 20 pips.As you know in trading nothing works 100% of the time, so trade went sour and our stop loss is hit.Since it was NFP day I knew it will produce weird and choppy trading so I closed the platform and I was looking for a chance after the release to take back what the market charged me for the morning counter trend trade.Approx one and half hour after DOW open I have spotted a very tide range in gbpjpy with repetitive short and long signals in my main chart.I spotted a fakey breakout upside and the moment the pair reversed and broke the opposite support I enter in the trade with tide stop loss.I took the cream of the trade with the momentum hitting approx 50 pips took my losses back and some nice profit.Everything is written in the video and trades are on the pictures with remarks.Have a nice weekend

.https://www.youtube.com/watch?v=bXXCd3yDqEU
The main chart of eurjpy


The trigger and main chart of gbpjpy







The main chart of gbpusd

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forex scalping software in-dependable

forex scalping software in-dependable

forex scalping software with in-dependable feed from broker.This is the third part of seven steps in forex scalping success.forex scalping demands to know your tools of the trade.

A professional trading platform in-dependable from the broker you have your account and separate market feed ensures that, what you see in your charts is correct and precise.

The problem is that software costs and feed is in a monthly subscription basis.

That means that the above combination is not suggested for newbie traders with small accounts.

Of course that doesn't mean you can't try them in demo or trial accounts and have in your mind what is out there to help you, if you succeed in your first steps and you decide to do professional trading for a living.

A lot of software applications are available from brokerage firms and independent vendors claiming varied functions to assist traders. The deciding factor to select the right product should be based on the product functionality best fitting one’s trading needs. Novice traders who are entering the trading world can select software applications that have a good reputation with required basic functionality at a nominal cost, while experienced traders can explore individual products selectively to meet their more specific criteria.

Most brokerage firms today offer free or premium trading software applications to individual clients when they open a brokerage account. The bundled software applications, offering a wide variety of trade, research, and analysis functions, are used as a prominent sales-pitch to the trader client. They also boast features like in-built technical indicators, fundamental analysis numbers, integrated applications for trade automation, news, and alert features. We will examine some of the most widely used, based on features

I included in the list software for stocks also.

Sorry for my English I am trying to improve by use them daily.

See the video below

https://www.youtube.com/watch?v=nXjmSqZ43Gg

My trading room setup one main pc with two 22'' screens networked with an auxiliary (clone of the main) notebook all controlled by one wired mouse and one keyboard with Synergy. Preferred platform ninjatrader connected with one of the suggested ECN brokers

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forex scalping 7 9 2015

forex scalping 7 9 2015

forex scalping yesterday brought very poor results in an extremely slow market.Initially in the London open I have lost an entry to a valid signal to gbpjpy by two pips since my limit order didn't trigger and the pair produced a very niceÂ* run (....pips)Late in the US session I gave a short order in the pair which I left it open during the Tokyo session but I have close it with +5 pips early in the morning while I saw it reversing.gbpusd gave the signal very early in the morning so I dint touch it.eurjpy produced one of the slowest sessions I have ever seen.I have attempted a long 15 minutes before London close but the pair reached 9.5 pips in four hours of trading without hitting my scalping target and reversed so I closed it by loosing five pips.Then I reverse it and left it open in the Tokyo session achieving the 10 pips target but the third part of the order stop out early in the morning.I even forgot to open the mic while I was explaining in the video.Sorry for this.https://www.youtube.com/watch?v=OsRTLY6MSIkThe pairs with remarks on themgbpusdgbpjpyeurjpy

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forex scalping 8 9 2015

forex scalping 9 9 2015

We had two successful forex scalping today in Pound dollar.
The first setup came after pound news in the morning ,industrial production.
The pair moved fast to south and we took the retracement in the borders of our Tokyo box.
The first scalping target came in three minutes which is the ideal scalping time.Trailing stop activated but unfortunately it dint lasted and hitted in less than thirty minutes,
Then the pair made another attempt to break the 50 area and we short it again.
This scalping took over one hour and we close it with just 5 plus pips. It reversed just after we close the trade.
The other two pairs we watch didn’t gave descent setups and signal in the European morning with retracements.
We managed to remain green today too and that is what matters.
Conclusion
Ideal scalping time is less than ten minutes if a pair sticks in a specific level for a period of an hour or so it will reverse.Some people call this pattern 1 2 3 reject.

[YOUTUBE]4CfMcziS09w[/YOUTUBE]

https://www.youtube.com/watch?v=4CfMcziS09w
The three pairs we watch everyday and their signals today
GBPUSD with our forex scalping trades marked

gbpjpy

eurjpy

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forex scalping 9 9 2015

forex scalping 9 9 2015

We had two successful forex scalping today in Pound dollar.
The first setup came after pound news in the morning ,industrial production.
The pair moved fast to south and we took the retracement in the borders of our Tokyo box.
The first scalping target came in threeÂ* minutes which is the ideal scalping time.Trailing stop activated but unfortunately it dint lasted and hitted in less than thirty minutes,
Then the pair made another attempt to break the 50 area and we short it again.
This scalping took over oneÂ* hour and we close it with just 5 plus pips. It reversed just after we close the trade.
The other two pairs we watch didn't gave descent setups and signal in the European morning with retracements.
We managed to remain green today too and that is what matters.
Conclusion
Ideal scalping time is less than ten minutes if a pair sticks in a specific level for a period of an hour or so it will reverse.Some people call this pattern 1 2 3 reject.

https://www.youtube.com/watch?v=4CfMcziS09w

Â*The three pairs we watch everyday and their signals today
GBPUSD with our forex scalping trades marked

gbpjpy

eurjpy

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forex scalping 10 9 2015

forex scalping 10 9 2015

Scalping didn’t started well today.
I have entered in a ranging pair the eurjpy.
I had a counter trend signal ten minutes before London open wait for the retracement and entered. The trade went red from the first minutes and gave an opposite signal.I had a chance to close in breakeven but I haven;t got a new resistance or support in the trigger chart so I didn’t close.
One hour later I paid the error for 20 pips.
While I was in the eurjpy trade I took a long signal in pound dollar and sixty minutes later I got a perfect retracement were I got in long for intraday trade.
This trade hit in the final stage approx 65 pips. I close initially 2/3 of the position but while I saw how it was approaching a resistance in the higher 2 hour time frame I close it all.
Few minutes later it reversed and dropped 60 pips down,
The moral of the story today is: 1. close to breakeven when you have the chance and 2.don’t be greedy.
Another day closed green with nice profit.
The title of the video with the trades consistent profitable.

https://www.youtube.com/watch?v=AVORUOag31Y
[YOUTUBE]AVORUOag31Y[/YOUTUBE]


The three pairs I watch
gbpusd

eurjpy

gbpjpy

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forex scalping 11 9 2015

forex scalping 11 9 2015

Scalping went well today.Initially I have started with a fresh signal in eurjpy .The signal came up some minutes before London open.
I took the retracement and scalping target in 2/3 of the position came in three minutes. Ideal forex scalping duration time.
Then the pair moved very slowly in the next hour and a half, lost my patience and close it in +3 pips for the rest of 1/3 position.
Wrong decision since the target I was aiming came in the next one hour.
The second trade I took in Pound Dollar and made more than an hour to pay.Finally we got the scalping target and we left a tiny piece to close with trailing three and half hours later.
You may find useful the below information for your trading next week.

CFTC commitment of traders released September 11, 2015:
EUR shorts 81K vs 68K shorts prior week
GBP shorts 18K vs. 11K shorts prior week
JPY shorts 7K vs 16K shorts prior week
CAD shorts 49K vs 55K shorts prior week
CHF shorts 7K vs. 8K shorts prior week
AUD shorts 53K vs 56K shorts prior week
NZD shorts 12K vs 8K shorts prior week
The data is from the close of business on September 8, 2015
EUR shorts increase by 13K
JPY shorts move closer to square and near the years smallest net position of -5.4K. JPY positions have not been net positive since Oct 16, 2012 week.
Our primary target to finish the week in green was achieved again today.

I gave the title to the video consistent profitability.

[YOUTUBE]WLFv6qBUEco[/YOUTUBE]

https://www.youtube.com/watch?v=WLFv6qBUEco
The three pairs I watch with remarks and trades on them.

GBPUSD

EURJPY

GBPJPY

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Consolidation and breakout 14 9 2015

Consolidation and breakout 14 9 2015

Consolidation and breakout is one of the most profitable trades you can take in any financial instrument.The problem is to find the real breakout or you will be caught in range .As I have predicted on Friday post GBPJPY would break in the next session.So with patience I was waiting for a signal in the European session today.After the fresh signal I wait for a retracement and retracement came.I entered in the most safe spot but the pair scared me initially because it continued to climb and gave opposite signal.The higher time frame chart- which carries my swing system on it-was in pivotal point.Either it would break the pivotal point and collapse or it will bounce from the pivotal point and resume the bullish trend.I was undecided what to do, close in breakeven or continue in the trade.Finally after 29 minutes gbpjpy moved fast in +12 pips and close my first scalping target.Since I was waited for a breakout I converted the trade to intraday by canceling the trailing stop ,entering a stable stop in 92 and left the trade with 1/3 of the position to see what it will bring.I have opened the platform again 30 minutes after the DOW open and the trade was in +101 pips.I decided to leave it open until London close and keep the strategy wait and see.Twelve minutes after the London close the pair was still in no mans land giving me 100 pips and I closed everything for the day.

I have wrote everything to video as usual ,enjoy

https://www.youtube.com/watch?v=2zaM63R1KMU

The three pairs I watch every day with trades and remarks on them

GBPJPY



GBPUSD



EURJPY

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When to close forex trading positions ? 15 9 2015

When to close forex trading positions ?

When to close forex trading positions? The most of the times I close open positions around London close.I sleep better at nights.Rarely as yesterday I had open position during the Tokyo session.In these cases I close them few minutes before Frankfurt opens.Reversals and stop hunting will follow I don't want to be in.Yesterday trading was difficult for the three pairs I watch.GBPUSD produced a nice signal with over 150 pips move south but with no retracement.EURJPY produced a long signal with retracement but took in demo only.Finally GBPJPY was ranging all day and since I was waiting for a breakout a took the retracement of a short signal which generated in DOW open.Trade went bad and lost 25 pips. Left the charts open and found a pivotal point, a third touch in the upper area of the gbpjpy range and took an intraday trade with stable stop approx 20.30 EST European time.This trade was left open during Tokyo session and produced 48 pips.We made 23 net pips for 15 of September and closed it 20 minutes before Frankfurt open.

https://www.youtube.com/watch?v=MtM1Tu8gtAM

[YOUTUBE]MtM1Tu8gtAM[/YOUTUBE]

The three pairs we watch every day with remarks and trades
GBPUSD



GBPJPY



EURJPY