Menu
Sister Sites

Options

Bookmark Thread

First Page First Unread Last Page Last Post

Print Thread

Similar Threads

Trying scalping with a 1000 bucks - Scalping is expensive! 39 replies

Indicators and Rules for Simple Method of Scalping GBP/Jpy on 5 min chart 18 replies

1M & 5M Scalping System (Scalping Paradise) 21 replies

Simple Scalping System 64 replies

xPip Simple Scalping 27 replies

Attachments: Simple Scalping
Exit Attachments

Simple Scalping

Quoting IamFED
Hello everyone Christmas is coming and how's everyone? Anyone gonna be like me trading through the Christmas festive season?
As I am prone to use martingale to balance negative trades, I think I will watch from a distance. Too dangerous.
Volatility at the bottom (and it is already low nowadays) and slow and consistent trends are the enemies for holi... days.
For a pure scalper, though, there should be no difference between holidays and not holidays.
Please, become rich and give your good share to any decent no profit organisation.

Quoting Babaji
{quote} As I am prone to use martingale to balance negative trades, I think I will watch from a distance. Too dangerous. Volatility at the bottom (and it is already low nowadays) and slow and consistent trends are the enemies for holi... days. For a pure scalper, though, there should be no difference between holidays and not holidays. Please, become rich and give your good share to any decent no profit organisation.

.. not correct.
markets getting lower of volume and the transactionscosts are rising a bit.
the lack of volatility is often the reason why targets get not filled.

Up to you-- there is a reason why working people have a rest during this season..

stay tuned
Guido
The future(s) is mine!Risiko birgt immer auch die Chance.
agree sesamstrasse. holidays season is completely different. the vola lacks and the moves are not like they are during normal business days. believe me, better stay with your family or friends and start fresh after the second week in january.
I know that you and I know nothing...and don't think!
One more full week for me and then taking off until the 8th. Happy and safe holidays to all.
About trading/not trading during Christmas holidays : https://www.forexfactory.com/showthread.php?t=723287
Quoting Jenx
{quote} Yes no problem. Below is a H1 chart on cable. The support lines are there. What makes them support? Well if you look where I've put red arrows, you'll notice that each of those bars comes after a period on consolidation. You'll also notice that the high of the bar was never re-visited by the low of the 3rd bar after. This creates a "gap" made by the 2nd bar.The wider the gap, the more significant. It creates support/resistance ,because what you have there are traders who have been left behind by the move. They're now sweating it out, and...
Hi Jenx, firstly thanks for sharing this solid strategy much appreciated
I just wanted to ask more about this method of finding S/R if that's ok?
I'm just a little confused as to whether you mean the 3rd bar after the one with arrow or if you are including the one with the arrow?
When you say the "gap" created by the 2nd bar do you mean from the high of the arrow bar to the low of the 3rd bar is the "gap"?

Sorry for asking you to repeat yourself mate!

Cheers
Josh
Quoting darbz
{quote} Hi Jenx, firstly thanks for sharing this solid strategy much appreciated I just wanted to ask more about this method of finding S/R if that's ok? I'm just a little confused as to whether you mean the 3rd bar after the one with arrow or if you are including the one with the arrow? When you say the "gap" created by the 2nd bar do you mean from the high of the arrow bar to the low of the 3rd bar is the "gap"? Sorry for asking you to repeat yourself mate! Cheers Josh
Hey Josh
Basically the "gap" is created when (in an up move) the low of the 3rd bar doesn't come back to more or less meet the high of the first.
The bigger the gap, the more significant. Also best if the low of the first is lower than the low of the 2nd. This is often where traders are trapped as they were caught shorting the move.
When price does eventually return to that area supply/demand is created by those trapped unloading their trades at BE.
Where price is now, it has been before, and will be again.
Hey Jenx,
Thanks for the reply mate.
Ok cool, i've noticed the same thing happens sometimes on areas that are more of a swing rather than a clear consolidation area.
Would you find them significant also or only after the clear consolidation? I ask as the swings have created large "gaps"?
When i'm allowed to put up screenshots i'll just check if i'm identifying the correct levels with you if that's ok?

Cheers
Have a good xmas everyone!
Jenx, thank you for starting this thread. I have tried both swing trading, and scalping. I prefer to scalp and be out of the market when my laptop is off. I don't like to have to monitor trades on a phone app. I like to get in, and get out and be done in an hour or two. This system is simple to follow, and I am looking forward to following the thread after the holiday break!
Merry Christmas & Happy New Year everyone ...
Signing in...merry christmas all. Hopefully tomorrow will get good trade
Wishing everyone a merry merry xmas and a happy new year 2018....

Glad to start seeing so many scalper joining in
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_2017-12-29-22-58-44-102_net.metaquotes.metatrader4.png Size: 219 KB


My first day on cent account. I used TF M5 with TF H1 to draw the SnR.
Quoting darbz
Hey Jenx, Thanks for the reply mate. Ok cool, i've noticed the same thing happens sometimes on areas that are more of a swing rather than a clear consolidation area. Would you find them significant also or only after the clear consolidation? I ask as the swings have created large "gaps"? When i'm allowed to put up screenshots i'll just check if i'm identifying the correct levels with you if that's ok? Cheers Have a good xmas everyone!
I don't really get interested in the gaps until price goes back there so whether they were created after consolidation or as a reaction to a pivot point etc doesn't really matter.
I try to get in the mindset that what has happened and caused it to happen ,has gone. Even what happened a few hours ago is usually irrelevant now.
So its just S & R levels that have been created by real traders being trapped rather than moves created under low volume/liquidity that are not really carrying anyone, just taking out stops and and weak traders.
Where price is now, it has been before, and will be again.
Quoting Jenx
{quote} I don't really get interested in the gaps until price goes back there so whether they were created after consolidation or as a reaction to a pivot point etc doesn't really matter. I try to get in the mindset that what has happened and caused it to happen ,has gone. Even what happened a few hours ago is usually irrelevant now. So its just S & R levels that have been created by real traders being trapped rather than moves created under low volume/liquidity that are not really carrying anyone, just taking out stops and and weak traders.
Ok cool understood keep it simple is the key. What happened is what happened, no need to look into it to much just identify it work with it! I like your way of thinking Jenx thanks a lot mate appreciate it
Quoting Iniezta
{image} My first day on cent account. I used TF M5 with TF H1 to draw the SnR.
Nice work
Where price is now, it has been before, and will be again.
Thanks Jenx for the great system. I've read the entire thread and was just ready to try today but the volatility seemed too low during the london session. Then there was a lot of news an hour back so didn't traded during that time either. Now I'm waiting for a setup to form. Fingers crossed. How're you doing?

Edit: I have 2 questions.

1. Would you start trading 1 hour after major news?
2. How do you deal with a trade that doesn't go your way? At what point and how do you decide to pull out with a loss?
Quoting Vipul.K
Thanks Jenx for the great system. I've read the entire thread and was just ready to try today but the volatility seemed too low during the london session. Then there was a lot of news an hour back so didn't traded during that time either. Now I'm waiting for a setup to form. Fingers crossed. How're you doing? Edit: I have 2 questions. 1. Would you start trading 1 hour after major news? 2. How do you deal with a trade that doesn't go your way? At what point and how do you decide to pull out with a loss?
Hey there
Just talking from a personal point of view, as my TP will be somewhere in the opposite bands, I like to see at least 9 or 10 pips distance there, more for the pairs with higher spread.
I don't trade at all before red news, but after its gone, no reason why not.
You can either put your SL just beyond the last swing high/low or at a point equal to or less than your tp. Problem with this is you don't really know your tp at entry as the bands can widen or shrink significantly as price moves.
I tend to "play it by ear" and if it feels uncomfortable, I kill it.
Try not to get into the habit of holding on to losers, hedging, or martingale. It may work for some, but I'm not convinced.
Good luck
Where price is now, it has been before, and will be again.
Thanks Jenx. I also don't like hedging or martingale. I tried your system on Friday and got 2 winners with 4 pips each and one on break even. I'm seeing potential and I'm gonna try on my small micro live account for next 2 weeks.
Had a bad day. If someone made any good trades during the EU/US overlap I'd like to hear from you. Here are the three trades I took.

EURUSD: Breakeven
USDJPY: -2 pips
EURJPY: -5 pips

What could I have done better?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSDM1.png Size: 40 KB
Click to Enlarge Name: EURJPYM1.png Size: 41 KB
Click to Enlarge Name: USDJPYM1.png Size: 47 KB
0 traders viewing now