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  • Hi from France

    Hello everyone,

    My name is Alexandre (Alex) and I'm a 23yo guy from France. I'm a student in banking and finance and am developping myself as a trader. My ultimate goal is to have enough capital to trade for a living like many of you I guess.

    Concerning my trading, I'm trying to become a great scalper at support and resistance levels on the majors (essentially EUR/USD, GBP/USD, USD/CAD, USD/JPY). The broker I use is IC MARKETS as I think they tend to offer the best conditions for scalpers.

    I'm not so old in trading, but I've been trying lots of technical indicators but nothing really worked. So I decided last week to go back to the basics : scalping, support and resistance, 2 pairs. Absolutely no indicator. It is absolutely basic, buy the support and sell the resistance.

    I'm signing in here in order to get some feedbacks on my method which I'll detail in another section. Your comments would be welcome.

    Hope to be able to speak with many of you, and please excuse my english ...

    Wish you all a nice day,
    Alex.

    I want to see if it's a way how I can make some 20ish pips per day on average.

  • #2
    Originally posted by alexthefrench View Post
    Hello everyone,

    My name is Alexandre (Alex) and I'm a 23yo guy from France. I'm a student in banking and finance and am developping myself as a trader. My ultimate goal is to have enough capital to trade for a living like many of you I guess.

    Concerning my trading, I'm trying to become a great scalper at support and resistance levels on the majors (essentially EUR/USD, GBP/USD, USD/CAD, USD/JPY). The broker I use is IC MARKETS as I think they tend to offer the best conditions for scalpers.

    I'm not so old in trading, but I've been trying lots of technical indicators but nothing really worked. So I decided last week to go back to the basics : scalping, support and resistance, 2 pairs. Absolutely no indicator. It is absolutely basic, buy the support and sell the resistance.

    I'm signing in here in order to get some feedbacks on my method which I'll detail in another section. Your comments would be welcome.

    Hope to be able to speak with many of you, and please excuse my english ...

    Wish you all a nice day,
    Alex.

    I want to see if it's a way how I can make some 20ish pips per day on average.
    Welcome to the community

    You're right to ditch the indicators, they don't reveal anything you can't interpret from the charts by themselves.

    I actually wrote a blog post recently on why I think indicators are a waste of time.

    https://www.forexsignals.com/blog/20...rex-indicator/

    Sticking to a couple of pairs and scalping simple support and resistance is a great start, however you'll find you have more success if you can formulate a fundamental view on a pair and only trade in that direction. TonyD does this well and is always up to speed with what's happening across the macro environment.

    So my advice would be to, work out which way you think a pair will move based on economic drivers, then keep working your scalping strategy.

    Good luck and let us know how you go
    Click here to check out the most popular forex channel on YouTube

    Comment


    • #3
      Originally posted by Nick View Post

      Welcome to the community

      You're right to ditch the indicators, they don't reveal anything you can't interpret from the charts by themselves.

      I actually wrote a blog post recently on why I think indicators are a waste of time.

      https://www.forexsignals.com/blog/20...rex-indicator/

      Sticking to a couple of pairs and scalping simple support and resistance is a great start, however you'll find you have more success if you can formulate a fundamental view on a pair and only trade in that direction. TonyD does this well and is always up to speed with what's happening across the macro environment.

      So my advice would be to, work out which way you think a pair will move based on economic drivers, then keep working your scalping strategy.

      Good luck and let us know how you go
      Hello Nick, glad to be welcome by the big boss

      I share your opinion (blog post), though I think some can be useful to have at a quick glance the market conditions. But I wouldn't be back trading them, I've found that scalping 2pips with simply a chart and some tick candlestick reading associated with the recent levels (supports and resistance) is simple and effective.

      To tell you the truth, I've been trying to incorporate volume analysis through the market depth that is available with cTrader (far far better than MT4 for manual traders in my opinion)., but it is totally useless with the forex market. You always have the same volume on the ladder. But I'm still using the price DOM as I find it nice to place the orders.

      Concerning the fundamentals, maybe they are useful for swing trading (even day trading), but I don't agree that for a scalper they are a very effective tool. I have a decent knowledge of macro analysis applied to the currencies (as I've studied it at the university this year), I would like someone to explain me how the inflation differential between the eurozone and the US is affecting the EUR/USD rate

      I don't know where to post how I'm trading as I'd like to have some feedback from the other members, I'm really open to the discussion and to be criticized as long as it's constructive.

      Wish you have a nice day Nick, let's make pips rain (jk)

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