Open Hatch

Posts Tagged ‘scalp trading’

Okay, those insanely good short trades on the Forex I blogged about two entries ago? These past two hours (early AM) I just did the same thing again, approaching the same amount! – shorting the same pair again!

And.. I’ll stop bragging.

But I’m on fire. I just think I best stop before I burn something down. Or maybe just make sure I have a large fire extinguisher handy.

Good night.

I woke up early this morning unable to sleep. I booted up my computer and started up MetaTrader, which connects to my live Forex trading account. (The Forex Robots – see my past two entries – have still been doing amazingly well for me.)

Tangent: show

I looked at the chart for the USDCAD pair (US and Canadian Dollars), and their MACD and momentum technical indicators. The MACD showed negative divergence on the 1, 15, and 30 minute charts (blah blah, I know this sounds like Star Trek or something). They all had a lot of momentum. The 5 minute chart showed positive divergence, but I thought it was lying.

I opened a moderately pricey short position on the pair (still very conservative for my entire portfolio balance).

Within minutes the pair took a steep dive (for a short position, this is good). I opened another short position. The fast diving trend continued. I opened another, the trend still continued, I closed the first trade for a profit, and I repeated this process several times until, seeing the persistence and strength of the trend, I opened another relatively fat (for me) position.

I watched the fat position the longest before closing it just recently, for nearly as much profit as all the other closed trades this morning combined.

This morning in two hours, I made roughly nine times the amount of money I’ve made working eight hours at the highest paying job I’ve ever had.

I believe I’ll take a nap.

Last summer, prompted by a Seven Habits class I took at UVU, I wrote a Personal Mission Statement, which includes this line:

I reject the idea that risk is avoidable; I value calculated risk..

My emerging success with the Forex market – mostly thanks to robots! – is a literal and happy expression of that value.