Scalping the US stock market and FOREX was what I did yesterday afternoon before the World Cup semi final. Scalping as a trading system requires a lot of concentration and speed. I scalped 7 stocks of the SP500 and made just one losing trade, but that was expected since a scalper should experience a high success rate, in order to withstand the cost of commission. I also traded EUR/USD in the FOREX market 4 times quite successfully. Totally, I did 11 trades, 8 of which showed a profit.
While busy at forex trading, the biggest win for me was when EUR/USD climbed from 1.25875 up to 1.26375. Although I did lose 2 trades prior and after that big move, the profit that was made during that price rise made it all back and some more.
GLW stock was the US stock that made me the most money yesterday in terms of stock trading. Here’s the 1-min stock chart of that stock. Although I entered when there was a minor breakout, I should have entered when the stock bounced off the moving average.
GCI stock was the second most profitable trade yesterday, although I could have won more points.
According to my scalping trading system, I try not to risk more than 10 points in order to win 10 or more. However there are times when I lose more than that as it happened when scalping the JCP stock.
Most of the time, I initiated a trade by entering long yesterday, as it was obvious the US stock market was trending upwards and I don’t like trading against the trend. Green arrows mean buying, and red arrows mean selling orders.