I have looked at the screens night after night and wondered if scalping the EURUSD would really work. It couldn’t be too hard with a 0.9 pip (on Oanda) spread right? If the market moves 1 pip, I make money!
So I decided to try it. Just target 2 pips and get out. Luckily it worked but I realized that I need to have a better strategy if I’m going to be doing this on a more regular basis.
I see scalping as a good way to
make a few small trades here and there to supplement my longer term strategies. Anyway, here is how it went:
Long 1 (10,000 units) @ 4294
Stop @ 4289 (-5 pips, mental stop)
Target @ 4296 (+2)
Click above for larger image
This one was fun and I look forward to figuring out a good scalping strategy.
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