In addition to my posted trades here using the D1/H1 setup, I have been taking the time to learn a bit more about scalping. In fact, I've found the simplegreen board to be very helpful in terms of ideas and commentary.
One method that has caught my eye is simplegreen's pincher setup. It consists of setting up the ADX/DMI indicator, waiting for the ADX line to go up above 50 and either the +DI or -DI to fall below 10. As it crosses back up, if both DIs are seen to be converging, enter long if it's the +DI crossing up and short if it's the -DI crossing up. I've been using the MACD (12,26,9) as a way to confirm entry. I've been scalping using the M1 chart.
Anyway, I've been trading about an hour in the evenings (10-11pm) and an hour in the mornings (5-6am). So far, the mornings seem to be better as there's more liquidity. I've been following my money management rules and have done quite well for the last couple of weeks.
There are definitely some pairs that are better than others. My favorites are the EUR/JPY are EUR/CHF. I find that those pairs often offer a big enough range on the M1 charts to squeeze 10 to 20 pips in a short period of time. We'll see if that continues.
I'm going to try and remember to post snapshots following each trading session.
