adaseb wrote:This is not a bad method but you need to factor in how emotionally draining it can be to trade all day to get 20 pips and then lose it entirely in one trade.
Sure you can trade at $10-20/pip and make some good money with your 20 pips. But imagine starting the day off with a loser, then another loser.
Scalping is more like, risking 2 pips to make 20 pips.
Thanks for your concern, quite ironic coming from someone with a BANK ROBBER as an avatar, and calls himself ROB BANKS
Scalping is similar to robbing banks, that is, short hours for good pay, so I thought you would be more supportive.
This has been expressed quite a few times on the Drain The Banks thread, and it is still going strong 230+ pages,.
However, I am taking your advice and will be more selective with the trades that I take; I made quite a few (on DEMO) to get an initial understanding of the price action, as it counter trend not to mention counter intuitive.
Another thing to all readers, OK for you to say what doesn't work, how about telling us what does work for you?
You see, you don't have to use Rat Zone to scalp trade, you can use it to confirm other 'conventional' trade entry techniques. I will post a chart soon to explain. The point being, if Rat Zone helps us focus on the price action, price patterns, price direction, that can be very helpful, right?
My demo account expired in the middle of a session today, so good opportunity for me to start fresh research with a reset account