Scalping system #9 (Trading by Psychological Levels)

Thanks for posting your system. I'm using a very similar method, but I also look at how price interacts with bollinger bands, support & resistance and daily, weekly, monthly pivot levels. Not looking at these levels is like driving with frost on your windshield.

Kind regards,
Israel Waitzman

hi edward,

i am difficulties while using the indicators. I see the Mcandle and sweet spot on my H1 and M5 but unable to see the same in D1.

hi patrick,

i can only see mcandle in H1 and M5 not able to see in D1.. m i doing something wrong.

i personally think waiting for it to touch the mentioned psychological levels, then having a pull back (or retractment) would be a safer point for entry..

it either allows you higher profit or lower loss..

Does anyone still use this method ?
Is it profitable ? For how long ?

It's possible and you can use it.

Good luck,
BaCo.

good evening, i have read all the entries and like always, there will be critics. there isnt any holy grail to trading. it comes down to knowledge with a splash of luck. this system that patrick and edward have mentioned works for some and not for others. never trade off emotions and try to limit your losses and keep you profits. always set your piviot points (r1, r2, r3 and s1, s2, s3). stick to the basics. one thing i added is i trade in the direction of the piviot line. price above line we bull, price below piviot we bear along with the h1 color strategy. good luck everyone ;-)

I back tested this method and its impossible to make money on. I don't think this is a very good Web sure. I have tested most of the strategies on here and most are rubbish. I think that Edward is a school boy who copies and pastes other peoples ideas on here to make money from advertising. Just back test any of these methods and you will see they are all absolute garbage. This particular method will wrote our your account faster than anything. Anyone who suggests a 5 limit and 25 pip stop is a complete idiot!