Another Great Scalping Day!
Today, Chief Trader Armando Martinez takes an active trade on the EUR/JPY currency pair shortly after PMDs in the 1-Minute time frame of the FxPM™ Matrix have converged and flipped direction. He takes two fills, anticipating that the same PMDs will hold as support, but sets a tight stop-loss nonetheless. After some time, he exits his first position with +8 PIPS of profit, and eliminates risk on the trade immediately by adjusting the stop-loss to breakeven. Shortly thereafter, he takes another +12 PIPS on the remaining position, for a net +20 PIPS of profit! Learn how to generate consistent profits and emotion-free trading in the Forex market long-term with the FXST Trading System.
Filed under: Daily Learning Moment
Like this post? Subscribe to my RSS feed and get loads more!