A big week of scalping the foreign exchange market(forex). My Forex scalping strategy worked very well and added to my long term trades.

 This week we saw the Forex on the Euro/Dollar jump to a 140 pip gap on the open. It extended that open to a 340 pip move. This was clearly stops getting hit that moved the price to a high of 1.3094. The 1 hour chart gave a perfect reversal signal with a hangman’s candle at the 61.8 fibonacci line.

 I hung on to my long term trades being down almost 4000.00 dollars. However, by having faith in this trend my fortunes were about to turn. A 730 pip down moved ensued, making my long term trades turn into currently a 356 pip gain.

 As advertised last week, I traded off the 1 minute chart. I must state clearly that I am also watching the 5 minute and 1 hour chart at the same time. I have all three charts up and look at the 4 hour and daily charts from time to time..

 I pulled the trigger early on a short and found out that the Forex broker I use (FXDD) had a ten point difference between the bid and ask. This sent my radar to moving in all directions and I wanted to know why, since they make claims about how great their bid and ask is.

Here are my questions and the answer that FXDD, my Forex Broker gave me.

Me,; “How long is the bid and ask on the EUR/USD going to be a 10 point difference”

Jonathan J.: “There is no definitive time frame but it should be adjusted within a couple hours”

Jonathan J.: “Is there anything else that I may help you with?”

Me,: no not today

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 I also replied to them that I would post that information on my site and within 5 minutes the bid and ask was back to normal. Coincidence? I am not sure.

 Playing the 1 minute chart on the Forex, I call it Kamikaze trading. It calls for discipline, a set plan, and experience to achieve success. I am really happy to report, because I play with real money, that my Forex Scalping Strategy and trades netted me $1720.00 dollars for the week. This was only scalping trades. I had a total of 28 scalping trades for the week and went an outstanding 28-0 on all my scalping trades. All my long trades are also in the money having set my stop lower than my entry. It is now going to be winning trades no matter what the Forex market does. I reset the stop loss after each lower high on the 4 hour chart increasing my potential winning while riding the trend.