Scalping using System #6

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Scalping using System #6

Postby dkennedy1001 » Thu May 19, 2011 12:39 pm

Hi there,

I hope this question hasnt been asked a few times before.

My question is around what people tend to do when scalping especially in relation to method 6 on this site. I have my automated code that im playing with at the moment taking profit at ten pips and will now probably make my stop loss 5 pips.
I noticed that when I take profit that I then don’t open another trade as the code waits for another crossing of the EMA’s from Scalping system #6 even if the trend is still going in a profitable direction.

So basically, what do you guys think is best

a. Be happy to have taken the profit and then just wait for another signal to trade again
b. After taking a profit should I reopen a new trade if all the lines still meet the criteria for a trade like all either side of EMA 55
c. How about initially setting a high take profit and then keep adjusting the stop loss up and up as the price goes up and if you get stopped out so be it as its still a lot higher stop than usual.

I would be very interested in your feelings on these approaches or if there are other approaches especially in relation to method #6?

Thanks

David
dkennedy1001
 
Posts: 1
Joined: Fri May 06, 2011 4:32 pm

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