Thread scalping on the30second and1minute charts

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Thread scalping on the30second and1minute chartsThread: Scalping on the 30 second and 1 minute charts

Scalping on the 30 second and 1 minute charts

Hello everyone,

I am using Tymens count back line entry method to scalp on 30 second/1 minute charts. I use bollinger bands at 22/2. I like the CBL entry method alot as it is very accurate. Once I enter, the trade almost always goes into profit within seconds.

I like the smaller time frames as I get more entries. Your suppose to enter at the outer B. band in squeeze areas. Or when the B. bands start to contract. Sometimes I have made entries when the b. bands are expanding in a downward sausage or bubble. The candles will move up, it will touch the CBL and I will enter very quickly. It will go into profit briefly then come down again. If I stay away from these trades and just stick to the entry rules 100% then I am sure I will have a much higher success rate.

Also every night when I trade, I write down my account balance and then after each successful trade write down the new balance. This just helps me to keep track and also I would like to finish trading each night with a pip gain. So if i made 20 pips, then had a bad trade and lost 5, then I might leave it until the next night.

Endinding with a gain boosts my confidence as a trader, and prevents me from `revenge trading` which is not a good frame of mind to trade with.

Is anyone else using the CBL entry method? If your scalping, what adjustments have you made to increase your success rate? I have only been trading LIVE for a short time and have made some very basic newbie mistakes. Even though I have tymens trading plan right in front of me. I guess I had to learn from my own mistakes first. Now I know how important it is to stick to the plan. I am happy with any profitable trades and hope to become a consistant trader.