Sunday, February 28, 2010

Friday Lightening Fast Breakeven Scalp

I had to do it. I was reading about a scalping method that I never heard of before. Look for Al Brooks. I had a 2m chart up and I saw the scalp setup near the end of the day Friday. I entered and moved up my stop to breakeven really fast as price was ahead 3 ticks. My stop was hit and luckily, no slippage, only lost on fees and commissions. I remember now, that Al Brooks said that he doesn't go lower than the 5m chart for this method because lower time frame charts have far more entry signals and he can't work them that fast. So I sure was lucky on the 2m BE stop out. And that was it for the day because I was unprepared early. Yea, I did it again, I got carried away studying the new stuff night before in a obsessive studying fit. However, I managed it well by knowing this about myself and not giving in and doing any damage. It was the final day of the month and there goes another one that's almost a gainer. I feel good about March.

1 comment:

  1. I agree with Al Brooks about the 5 min. chart. It sometimes needs bigger stops but that can be well worth it. Best of luck for March!