"Every battle is won before it is ever fought." - Sun-tzu, The Art of War.
Best broker for scalpers? 162 replies
Scalpers Hourly Range Indicator (TSR tweeked for scalpers) 2 replies
Scalpers Lounge: for scalpers to share thoughts, ideas, and plays 88 replies
Synergy Method For Scalpers and Scalpers Hourly Range Calculator (Based on TSR) 22 replies
Quoting Just1PipDislikedLinuxtroll,
You suggest CCI 21, and at one time you suggested CCI 55. What do you feel is ideal for the 5m, 1m and down to the pip charts?
Just1pipIgnored
DislikedI am really starting to see why scalping can be a great strategy. I used to think it was foolish but now I think it's actually the perfect trading style, for me anyway.
-mathematicianIgnored
Disliked
Compare this to a scalper who might have a reward/risk = 1/3 (let's say he is also risking 3% of his account per trade, but to potentially make only 1%) ...but his trades are winners about 90% of the time.
Also if we're talking about a very short-term strategy, the scalper might be able to find 4 or more setups by looking at different charts in a very short time. Maybe it would only require a couple hours a day, rather than sitting in front of the screen all day.
-mathematicianIgnored
DislikedFor a technique look no further than linoxtrolls posts. you need a tick chart, proferably 5 sec, set up the WMA at 6,9,12-144 all in one color and watch the lines consolidate, once they start to seperate in a moving market jump in and out. The set up and examples are in his past posts. Like anything it just takes practice. Trade it on the eur/jpy or gbp/usd in a moving market. Grab 3-5 pips.Ignored
DislikedI have read all of linuxtrolls posts and still haven't got a clear idea of his entry strategy, his exit strategy or his risk management.Maybe I'm just thick but I find his explanations a little oblique. Does he enter on pullbacks or on trend direction changes? How does he differentiate between the two? Most specifically, what segment of the price movement does he target for capture? If I learn this, the rest I can figure out myself.
I do appreciate your patience and advice.
KenIgnored
DislikedPossibly you are correct in that some of his answers are somewhat vague. I believe that is because he sees the set up very simple and matter of fact and uncomplicated. So therefore his answers can be seen as oblique. When all the lines are together and the price is consolidating, wait and as the lines start to seperate and widen that would be an entry point to jump in grab 2-5 pips and exit. Or if you think the move has more energy set a s/l order at your profit point or a trailing stop.Ignored
DislikedMore and more firms are going to and encouranging scalping because they make the commission the more you trade. At an ecn they have no dealing desk so they do not hold positions and therefore do not trade against you.Ignored
DislikedYour logic is impeccable but have you ever been able to find a scalping technique with a 90% strike rate(irrespective of the RR ratio) that gives you 4 set-ups in a couple of hours? If so, I would love to hear about it.
In fact, I'd settle for a far more humble result than that if it was reliable AND frequent.
cheers
KenIgnored