Can I Scalp 6 Pip Diagnostic Bars?

#1

I am wanting to start demo’ing momentum scalps on Amp in the mornings before work (5am-7am) EST, and I chose to start looking at GBP/USD.

When I checked the B/A was 3 pips and I want to make sure my logic is correct. If the B/A is 3 pips and my take profit is the bar size less the 3 pips entry and I’m already 3 down due to a 3 pip B/A, then a momentum scalp in this situation would just be at break even at the take profit point?

If that’s correct, would you all recommend a switch to a different instrument or that I spend some time learning to size my own bars?

Thanks for all help!

Blake

#2

You should be getting 2 pip bid/offer on GBP/USD

Yes you enter 3 pips up.

Yes you can use 6 ticks

However you will have to exit later than bar size less 3 ticks. Ie 2 or 3 bars later. This is discussed in the course.

As all instruments vary you may want to go back and load at least 20 days of data. Look at bid/offer spreads on whatever market you are trading and then backtest the strategy ie with market replay or at least with a historical chart.