Dan

hey ibiobiz,

You're making excellent profits for yourself

Care to tell us more about you Scalping/candlestick pattern trading?

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ibiobiz

Sure, no problems, it's nothing fancy so hear goes.

What I am looking for is for GBP/JPY to drop and
once it hits resistance and bounces upwards, I am
there to execute a trade with a rather tight stop/loss
of -20 pips.

I am looking for candlestick/bollinger band patterns
like below,when it breaks through the lower bollinger
band on the way down and then breaks it again on
the way up on at least the hourly chart, that's
pretty much it.

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Chris


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Dan

Simple and to the point. My kind of trading

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ibiobiz

So true, lol. I couldn't care less about fundamentals or
technicals or whatever, if it bounces it bounces, all you have
to do is to catch it.

On another note, the above also works the other way around
on the upper part of the bollinger band but then you would
execute a sell order of course.

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Chris


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Steven IS

Heh, you need to keep forex simple , all those charts and analysis, its just dressing up to make it impossible to understand for the new guys, but in the end, you dont really use it...

Those of you trading with Oanda, what leverage are you using?

ibiobiz

I am using 50:1 leverage, that's the Oanda max.

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Chris


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Jude

Woot! Something simple and nice! Thanks for sharing ibiobiz!

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Be Good!

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JoseLeon

Great post ibiobiz! and with gbp/jpy! I love this pair. Thanks.

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Steven IS

50:1.. thats rather risky , dont fall asleep with an open position

JoseLeon

Dan, I read in your forum that you are using the bat method. Are you following that method exactly or only to guide you some more in your trading?. And how do you use the 200 ema and 200 sma?. It seems that it´s enough with only 1.

Thanks.

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