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Discussion in ' Educational Resources ' started by wartrace , Jan 2, Log in or Sign up.

Books on scalping and mechanical trading - Trading Systems - anajevopule.web.fc2.com Forex Trading Forum

I am currently paper trading my initial ideas. I do really well in the early morning 3am to 8am but when the volume picks up I give it all back. I have only been at this for a week and it is my intention to continue paper trading until I am consistent for a period of at least 6 months before committing and money.

My problems right now. I have had several days where I was up 3 to dollars on one contract CL in the early morning hours but then the market starts making huge swings up and down.

Of course I end up on the wrong side of these moves OR I am on the right side but my stop is hit before the move goes the way I thought it would. I have noticed a lot of "educational websites" that promise to teach me for a price. Judging from the posts here on ET most of these places aren't worth it.

I figure a good book and a lot of paper trading time would be a better approach. It's true that books aren't going to do you much good, if any. But you say you've been at this for only a week.

You've been registered since '06 and have made several hundred posts. What were you doing before "this"?

I have been trading stocks and doing some options trading. I never had the opportunity to daytrade actively due to other commitments.

I am now able to do it. Sounds to me like you have a profitable strategy but you haven't figured out when to get out. Quote from STC Capital: Once you've done that, you'll be able to put together an awesome trading plan Also, study anything by dbPhoenix here on ET.

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