Scalping the Euro lo and behold
This is a very short post, just to let you know that I have extended my DAX scalping to the Euro now. Why? There are many fundamental changes in Europe now, with Greece issues and other members under the financial cosh. Also, my broker has reduced the spread to only 1 pip that means that it's cheap enough to get in.
The scalping method is identical to my DAX system see it here ==> DAX Scalping
The beauty about scalping the Euro is that if you take it from one of the pivots (See here ==> Pivot point system) a cheap scalp with a stop of no more that 6 pips can turn into a 30-50 pip runner.
Remember though, when scalping you need to remain focused and ruthless, you may scalp 10-20 times for 2-10 pips at a time, so never let it run against you. If you have problems getting into the zone try using some meditation (get some binaural beats to use, check my meditation blog) or re read Mark Douglas's book "Trading in the Zone"
Today has been a awsome day for scalping, both the Dax and the Euro, check out below and notice how breach of the Pivot point brought on an avalanche (OK, ECB statements didn't help much eithr :)), also see how the hit on S1 area brought a nice tradeable bounce:
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