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Wiz Index

  • #41
  • Apr 28, 2017 7:25am Apr 28, 2017 7:25am
Quoting MoneyZilla
{quote} Hell, the account is like 24-25k! How is that even possible?!? Seriously!
Haha well minus 5.5G :-)
Indentify > Plan > Accept > Execute
  • #42
  • Apr 28, 2017 10:45am Apr 28, 2017 10:45am
Thanks for the indicators mate!

For that UJ loss, Never good to make a trade when you're in a rush

All the best ;D
  • #43
  • Apr 28, 2017 11:52am Apr 28, 2017 11:52am
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Indentify > Plan > Accept > Execute
  • #44
  • Apr 28, 2017 11:55am Apr 28, 2017 11:55am
Quoting Rmieck
Thanks for the indicators mate! For that UJ loss, Never good to make a trade when you're in a rush All the best ;D
Thanks for the advice. It is good advice mate. When I entered the trade I wasn't in a rush though but ended up holding it all night. I kept hold of it because I identified buying volume so I was confident that it wasn't going to fall too much. But as the London session was about to begin and I could no longer keep an eye on it I decided I would rather take the loss than worry about it.
Indentify > Plan > Accept > Execute
  • #45
  • Apr 28, 2017 12:12pm Apr 28, 2017 12:12pm
Cut a few losses short today so happy with my 3.3%. Now flat before the weekend
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  • #46
  • Apr 28, 2017 12:43pm Apr 28, 2017 12:43pm
Quoting Cubbybgood
Why do you lock visibility on the results? Makes us think this is a "cent" account. I'm not sure why people hide but show their performance. Has always seemed odd to me...
OK well here is my reason. I am not sure if this will make sense to you or not but here it is.

I feel that having my money and lots visible for all to see will put undue pressure on me and I don't need that. However I guess now that my balance has been revealed in a round about way it doesn't matter so much but for now I will be keeping my settings as they are.
Indentify > Plan > Accept > Execute
  • #47
  • Apr 28, 2017 12:57pm Apr 28, 2017 12:57pm
Quoting wizlon32
{image}
Volume + Price Action is what I look for.

Think about it......

High volume at highs in an uptrend is sneaky selling. Accumulation of shorts.

High volume at lows in a downtrend is sneaky buying. Accumulation of Longs.

What we don't know is how far price will go until enough orders are accumulated and price reverses.
Indentify > Plan > Accept > Execute
  • #48
  • Apr 28, 2017 1:17pm Apr 28, 2017 1:17pm
Team No is losing ground

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Indentify > Plan > Accept > Execute
  • #49
  • Apr 28, 2017 1:50pm Apr 28, 2017 1:50pm
Quoting wizlon32
Team No is losing ground {image}
Die hard scalpers, unite! hahahaha
  • #50
  • Edited 2:24pm Apr 28, 2017 2:04pm | Edited 2:24pm
Quoting Cubbybgood
Why do you lock visibility on the results? Makes us think this is a "cent" account. I'm not sure why people hide but show their performance. Has always seemed odd to me...
I remember when you signed up here and some group was on your case and I supported you but here you are way off.....
(Please do not take this in a negative way or an attack, I like your postings)

He stated from the beginning that "This thread is just somewhere to post my thoughts, trades and anything that I feel like posting"

I would not give you any especially the way you asked.... cause it is not anyone's business how big my account is(or small)....especially if it is live

Nice going wiz! (I am jealous)

4x
  • #51
  • Apr 28, 2017 2:16pm Apr 28, 2017 2:16pm
Quoting Forthebulls
Hey Wizlon, Impressed by your scalping and i will be following along. I know you aren't creating a system here, but mind just a few questions about your process? Do you focus exclusively on the 1 minute chart? I noticed a 1 hour chart in your first post, do you use that to determine sentiment and the minute chart for entries? Do you trade with predetermined SL and TP levels? And how long would you say you typically stay in a trade? I like your VSA approach, I learned a lot about that studying charts that were posted by a trader named Rocky here...
Here are some quick answers to your questions mate;

1. M1 volume informs me what is going on, whether it is Buying at lows or selling at highs? This gives me an invaluable insight.
2. I like to keep a track of the H1 chart. Understanding how to do a proper HH/HL/LL/LH count is something that I am very glad to have learned. I do also look at H4 and D1 but I do not do any sort of "top down analysis". I do not normally plot any HTF S/R zones although I do understand supply and demand as taught by Alfonso Moreno. I am not a supply and demand trader.
3. I don't normally place a SL unless I think my trade is in danger. By determining if buying or selling is happening I am normally confident that my entries will end up in profit. However I am always aware that anything can happen.
4. How long I stay in a trade varies. I have no set rule but normally when I get a nice profit that makes me happy I just take it.
5. I don't know VSA as such. In very basic terms this is what I understand......high interest (high volume) at relevant highs is normally selling and high interest at relevant lows is normally buying.

Hope that helps.
Indentify > Plan > Accept > Execute
  • #52
  • Apr 28, 2017 2:17pm Apr 28, 2017 2:17pm
Quoting 4xPIPAHOLIC
{quote} I remember when you signed up here and some group was on your case and I supported you but here you are way off..... He stated from the beginning that "This thread is just somewhere to post my thoughts, trades and anything that I feel like posting" I would not give you any especially the way you asked.... cause it is not anyone's business how big my account is(or small)....especially if it is live Nice going wiz! (I am jealous) 4x
Thank you my friend. I am grateful for your support
Indentify > Plan > Accept > Execute
  • #53
  • Apr 28, 2017 2:29pm Apr 28, 2017 2:29pm
Quoting wizlon32
{quote} I am travelling home now but I will try to answer your questions over the weekend.
Wiz, one other question for you too:
Looked through some of your trades, winners & losers; seems you run very deep stops for many trades. So how do you evaluate your R:R, Stop loss (if you're using one), and decide on a losing trade before closing for a loss? Also appears your position sizes vary greatly from trade to trade, I'll post an example. How do you decide which trades to go big on?

Not a knock on you, it's obviously working well, just curious about your trading mind set and how you're analyzing the PA through a trade? Appreciate it
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  • #54
  • Apr 28, 2017 2:38pm Apr 28, 2017 2:38pm
Quoting Forthebulls
{quote} Wiz, one other question for you too: Looked through some of your trades, winners & losers; seems you run very deep stops for many trades. So how do you evaluate your R:R, Stop loss (if you're using one), and decide on a losing trade before closing for a loss? Also appears your position sizes vary greatly from trade to trade, I'll post an example. How do you decide which trades to go big on? Not a knock on you, it's obviously working well, just curious about your trading mind set and how you're analyzing the PA through a trade? Appreciate...
As I said I generally don't use stop losses unless my trade is in danger or if I am unable to be at my screen.

Yes I know it seems that I can at times let trades go against me a long way but remember that I am studying the volume to understand what is really going on. I am ready to hedge my position to prevent a catastrophic loss if need be (bear in mind I usually have a good idea that a reversal is going to happen. Sometimes I am wrong though)

I don't look at R:R. I just see a potential to make a profit.

Deciding on whether to accept a loss has a lot of factors. I guess I just feel that it time to take it on the chin!

If I think an accumulation of orders might take some time I reduce my lots. If I think a quick profit opportunity is there I go big.
Indentify > Plan > Accept > Execute
  • #55
  • Apr 28, 2017 6:32pm Apr 28, 2017 6:32pm
Quoting wizlon32
{quote} OK well here is my reason. I am not sure if this will make sense to you or not but here it is. I feel that having my money and lots visible for all to see will put undue pressure on me and I don't need that. However I guess now that my balance has been revealed in a round about way it doesn't matter so much but for now I will be keeping my settings as they are.

Ah yes! This makes complete sense to me. Speaking my language here. Yes, please keep your stats the way they are! I really don't know what I was smoking earlier. Probably just jealousy! Lol
  • #56
  • Apr 28, 2017 6:34pm Apr 28, 2017 6:34pm
Quoting 4xPIPAHOLIC
{quote} I remember when you signed up here and some group was on your case and I supported you but here you are way off..... (Please do not take this in a negative way or an attack, I like your postings) He stated from the beginning that "This thread is just somewhere to post my thoughts, trades and anything that I feel like posting" I would not give you any especially the way you asked.... cause it is not anyone's business how big my account is(or small)....especially if it is live Nice going wiz! (I am jealous) 4x

Yup, I was off my rocker today. Just because I like to do things a certain way does not mean others have to as well. I'm usually more open minded than this. Also, I didn't fully read the entire thread till after posting. My apologies to to Wizlon32 and the thread.
  • #57
  • Apr 29, 2017 1:46am Apr 29, 2017 1:46am
Quoting wizlon32
{quote} As I said I generally don't use stop losses unless my trade is in danger or if I am unable to be at my screen. Yes I know it seems that I can at times let trades go against me a long way but remember that I am studying the volume to understand what is really going on. I am ready to hedge my position to prevent a catastrophic loss if need be (bear in mind I usually have a good idea that a reversal is going to happen. Sometimes I am wrong though) I don't look at R:R. I just see a potential to make a profit. Deciding on whether to accept a...
Another important point t that I didn't mention is about exiting a position. If I am in a winning trade and I identify opposing volume coming in with the potential to cause a reversal and eat in to my profit then I close the trade and bank the pips.
Indentify > Plan > Accept > Execute
  • #58
  • Apr 29, 2017 8:08am Apr 29, 2017 8:08am
Im glad that you are back Wizlon32
  • #59
  • Apr 29, 2017 10:41am Apr 29, 2017 10:41am
How do you see the volume approaching?
  • #60
  • Apr 29, 2017 12:21pm Apr 29, 2017 12:21pm
Quoting mizi123
Im glad that you are back Wizlon32
Thanks mate
Indentify > Plan > Accept > Execute
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