Scalping for pips (Forex)

In forex the unit of change is a pip. Last night I got 4 or so pips (there are fractional pips) and this morning I just did a 5 pip scalp.

This is a whopping $5 for the trade size that I made, $10,000 size at a cost of $200. In terms of percentage, its a 2.5% profit. For a full size contract, $100,000 at a cost of $2,000, that would have been a $50 profit. I could have held on for more (its up 13 now) but the point of scalping is to just try to get the first move based on the technical analysis. The point of learning to do this with this size of trade is to gain confidence in the technicals, to confirm that this is a consistent winner. Once that is established I can crank up the dollars, incrementally. This increase in size of trade can't be rushed. Consistent winning begats confidence, which begats comfort with increased risk.

I'm using Stochastics and the MACD. In this trade the MACD for the 10 minute was positive and trending up, meaning the easy direction was up, and the 2 minute Stochastic triggered a buy signal. The MACD on the 2 minute was red but declining. A slower strategy is to wait for the MACD to go positive on the two minute, but there isn't a lot of movement right now so the short term trends aren't long.