Life is too short to have anything but delusional notions about yourself.
Scalp, scalp, scalp 5,623 replies
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DislikedHoss, how far do you let pa run when it turns against you before exiting the trade? For example, let's say you enter and price action starts to go in your favor by 2-3 pips but stalls and goes back below where you entered?Ignored
DislikedI don't let it run too far, but each trade is different. Your money mgt. will dictate how far you let it go. It's discretionary for me.Ignored
Dislikedmy exit strategy is a bit diffrent
i've added 2 additional levels 40 and 60 to my rsi ..
BUY
so when i buy at 20- .. i dont go for 5 pips ..instead i wait till the rsi moves from 20 crosses 40 and touches 60 .. the moment the rsi touches 60 exit the trade
SELL
and incase of sell its the opposite .. sell at 80+ then wait till rsi crosses 60 and when it touches 40 .. exit the trade ...
this has helped me take in a lot of extra pips
..........
and if a trade goes against me .. i'll open up another position...Ignored
DislikedNice. Do you stay in the trade if the RSI gets pinned up/down in the OB/OS territory on a strong move?Ignored
DislikedMaybe I am wrong, but I see a drop from consolidation, and then 3 pushes before strength begins. Hoss always says NOT to trade the first break from consolidation, and to wait for 2-3 pushes before entry. That would have saved your initial entry losses.Ignored
Disliked... i'll try to explain my rules.....
i
consider the following trades ..if a trade goes bad .. this is what i usually do .....pls refer to the attached image ..
worst case scenario 1
the first entry would be loss of 3 pips
the second entry would be a loss of 2 pips
but the 3rd entry would be a profit of 6 pips
this will result in me averaging out or making a tiny profit ........
explanation :
The reason for first entry is : its -20 oversold .. ideally i'd exit when the price reaches rsi 60...Ignored
DislikedNot specific, but I have made about 65 trades over the last few weeks, with no losses. I am being VERY picky about the entry. Hoss's method works for me, thanks Hoss!Ignored
DislikedIf you are very patient and very picky, you can be well rewarded trading this way.Ignored
DislikedHere are a few US Session trades I took today... I had no losers and missed a big winner at the resistance line.Ignored
Dislikedhow do i identify these fake entries and stay out of it .........
even if this dosent exactly meet ur requirements can u help me out here......Ignored
DislikedThought I'd give this system a whirl...
Took a couple scalps here in low volume US session. Risky but took a few pips.
Didn't wait for resistance on second trade... Was counting on the magnetism of the 200ema to draw price back for a few pips.
Look alright hoss?Ignored
DislikedGreetings,
Would I be correct with my understanding that the best entry positions with regards to the 200 ema are when you have a gap of 25+ pips AND trade with the movement back towards the 200 ema?
This morning's trades were a mess - way too volatile on the GU
lost 3 trades at 10 pips each
overnight position on the GU took + 41 pips - up 12.7 for the day - I'm done for the weekend.
Cheers
To live with Passion, it takes Grace and Courage to surviveIgnored