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PVSRA Scalping with Cigarguy

  • #12,561
  • Mar 16, 2018 12:36am Mar 16, 2018 12:36am
hey guys, after many weeks i read all 628 pages (+pdf) and i just wanted to say thank you! its a pleasure to read and its very informative oder clear when a thread stay focussed on his roots. especially thanks to cigarguy and vipe! but also thanks to all of you who contribute to the big picture...

@vipe i hope its ok to you when i ask you something from time to time. in all your posts you mentioned your tp only when it is the recent high or at keylevels. but often you let your trade run without comment it. how did you decide where to close? lets say on the below example, why did you not close it at the last low? i know its about HTMRW and you need a feeling for it, but maybe you could try to explain on what you look when you decide? how do you define momentum in this moment and why is it big enougth to let it run?

(and sorry for my bad english, hope its stil clear what i mean)
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  • #12,562
  • Mar 16, 2018 4:05am Mar 16, 2018 4:05am
Quoting proctor
hey guys, after many weeks i read all 628 pages (+pdf) and i just wanted to say thank you! its a pleasure to read and its very informative oder clear when a thread stay focussed on his roots. especially thanks to cigarguy and vipe! but also thanks to all of you who contribute to the big picture... @vipe i hope its ok to you when i ask you something from time to time. in all your posts you mentioned your tp only when it is the recent high or at keylevels. but often you let your trade run without comment it. how did you decide where to close? lets...
HI Proctor, I've tried to explain below what I looked at before taking this trade. I hope it makes sense, sometimes its hard to explain things just by typing and screen shots, as what you say is true, some of what we do, is based on feel and for this trade I had a feeling it would break lower.

 

  1. First I looked at M5. Price was selling lower from the 1/4 level. The way price had sold off, it was fairly 'smooth' with a nice 'curve'. For me, my preference is to trade when price is moving smooth, rather than with lots of volatility and irratic fast moves. There were also lots of notable volume candles during the move from 1/4 to 1/2, all while staying below the dragon and 200/233MA's. All signaling we'd continue to see a move lower.

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  1. Looking at the M5 again, PA bounced at support just below the 1/2, but closed slightly below the last attempt lower (seen on the chart below). Also the candle was bearish with notable volume. When we got no followthrough lower, the probability of a pull back and sell off again increased (as that is what often happens). Also, this 1/2 level had been hit a few times in the past and held as S/R. IMO, the more times a level holds, the weaker it is. You can see an example of this in the3mp's trade a few posts ago (post 12550). Quadruple top, but he bought when most would have been selling and ended up with +20pips very quickly.

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  1. Zooming into the M5, I could also see 3 pin bars, all bouncing at the 1/2 level. This actually looked like we may move higher, but we never broke above the dragon so I was still looking for a sell. The next candle (after the 3 pins), was very bearish, bounced at the dragon and closed at the 1/2 level. Volume was also slightly higher for that candle than the previous 3. Again, signaling we'd see a move lower.

Attached Image

 

  1. For the entry, I dropped down to M1 and entered when price closed below 1/2 level and that minor support marked on the chart. I didn't close at the previous lows because the two previous break through the 1/2 level had small lower wicks at their lows. When we got back down two the lows, the candle had no lower wick and infact closed at its low, this signaled that we would likly see the sell continue. I closed for +10 because it was at the next key 10 level.

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Hope this makes sense and helps!

  • #12,563
  • Mar 16, 2018 4:47am Mar 16, 2018 4:47am
EU M1/M15 +18 Explanation on chart

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  • #12,564
  • Mar 16, 2018 6:33am Mar 16, 2018 6:33am
EURUSD +5

Four times the price made a lower high. Got in after a big volume red candle on the dragon. Closed when the price struggled to break 1.232.
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  • #12,565
  • Mar 16, 2018 6:59am Mar 16, 2018 6:59am
Quoting Vape
{quote} HI Proctor, I've tried to explain below what I looked at before taking this trade. I hope it makes sense, sometimes its hard to explain things just by typing and screen shots, as what you say is true, some of what we do, is based on feel and for this trade I had a feeling it would break lower. First I looked at M5. Price was selling lower from the 1/4 level. The way price had sold off, it was fairly 'smooth' with a nice 'curve'. For me, my preference is to trade when price is moving smooth, rather than with lots of volatility and irratic...
Hey Vape,
your conclusions are awesome also analysis but i disagree with that trade base on 'feellings', what is that means ?
did you pick it trade decision only on feeling or either on analysis to. if so how did you decide which feelings are
correct? is it not confusing choose entry position on feelings or analysis to?
  • #12,566
  • Edited 3:02pm Mar 16, 2018 7:02am | Edited 3:02pm
Quoting Vape
{quote} HI Proctor, I've tried to explain below what I looked at before taking this trade. I hope it makes sense, sometimes its hard to explain things just by typing and screen shots, as what you say is true, some of what we do, is based on feel and for this trade I had a feeling it would break lower. First I looked at M5. Price was selling lower from the 1/4 level. The way price had sold off, it was fairly 'smooth' with a nice 'curve'. For me, my preference is to trade when price is moving smooth, rather than with lots of volatility and irratic...
Vape,

Beyond EXCELLENT. .

You have become the PVSRA MASTER SCALPER.. All here are fortunate to have the opportunity to learn from your excellent detailed trades and posts.

A Grateful Cigarguy..,
Keep It Simple
  • #12,567
  • Mar 16, 2018 7:40am Mar 16, 2018 7:40am
USDJPY M1 +7.0
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  • #12,568
  • Mar 16, 2018 7:45am Mar 16, 2018 7:45am
Quoting pvrsazyt
{quote} Why long when price under dragon on M5 and M15? There are also no notable vol at the bottom just my two pence
Well spot it, thank you Because M1 create M5 not M5 creates M1 so more prefer look at M1 rather than M5, but yeah see crucial point in bigger TF, spot it in upper post notable volume.
  • #12,569
  • Mar 16, 2018 8:38am Mar 16, 2018 8:38am
EURUSD +5. Explanation on chart.

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  • #12,570
  • Mar 16, 2018 8:43am Mar 16, 2018 8:43am
Quoting Arturke
{quote} Hey Vape, your conclusions are awesome also analysis but i disagree with that trade base on 'feellings', what is that means ?
Don't wanna talk for Vape, but I think what he means is that after many hours looking for similar setups you kinda 'feel' when everything is alright and when not.I t's not something like "I feel it, price will go up", it's more some unconscious part of your brain being able to see more stuff than just "EMA's are like this, R/S is there, so I get in".
  • #12,571
  • Mar 16, 2018 8:49am Mar 16, 2018 8:49am
Quoting the3mp
{quote} Don't wanna talk for Vape, but I think what he means is that after many hours looking for similar setups you kinda 'feel' when everything is alright and when not.I t's not something like "I feel it, price will go up", it's more some unconscious part of your brain being able to see more stuff than just "EMA's are like this, R/S is there, so I get in".
So basically it's like feeling 'telepathically' see what you or I can't see looking at the same charts ?
  • #12,572
  • Mar 16, 2018 8:55am Mar 16, 2018 8:55am
Quoting Arturke
{quote} So basically it's like feeling 'telepathically' see what you or I can't see looking at the same charts ?
Don't wanna speak for Vape either, but after a lot of screen time your mind starts to subconsciously recognise certain patterns, whether it be price in relation to MAs, or whether the market is sluggish or showing momentum, and that can be hard to describe to others sometimes.
  • #12,573
  • Mar 16, 2018 9:08am Mar 16, 2018 9:08am
Quoting samskara
{quote} Don't wanna speak for Vape either, but after a lot of screen time your mind starts to subconsciously recognise certain patterns, whether it be price in relation to MAs, or whether the market is sluggish or showing momentum, and that can be hard to describe to others sometimes.
so 'feeling' requires to recognize patterns rather analysis explain how patterns work ?
  • #12,574
  • Mar 16, 2018 9:19am Mar 16, 2018 9:19am
Quoting Arturke
{quote} so 'feeling' requires to recognize patterns rather analysis explain how patterns work ?
"Feeling" may or may not be useful, depending on the individual trader, but Vape always explains his posts with analysis anyway, so I don't really see your point.
  • #12,575
  • Mar 16, 2018 9:25am Mar 16, 2018 9:25am
Quoting Arturke
USDJPY M1 +7.0 {image}
Hi, could you share the symbol changer dashboard? I found it would be useful for me to taking trade
  • #12,576
  • Mar 16, 2018 9:26am Mar 16, 2018 9:26am
Quoting samskara
{quote} "Feeling" may or may not be useful, depending on the individual trader, but Vape always explains his posts with analysis anyway, so I don't really see your point.
happy still see that feeling have part of trading may they useful or not
  • #12,577
  • Mar 16, 2018 9:29am Mar 16, 2018 9:29am
Quoting atoue
{quote} Hi, could you share the symbol changer dashboard? I found it would be useful for me to taking trade
here you go
Attached File(s)
File Type: ex4 Symbol changer 1.1 separate.ex4   15 KB | 458 downloads
  • #12,578
  • Mar 16, 2018 9:33am Mar 16, 2018 9:33am
Quoting Arturke
{quote} Hey Vape, your conclusions are awesome also analysis but i disagree with that trade base on 'feellings', what is that means ? did you pick it trade decision only on feeling or either on analysis to. if so how did you decide which feelings are correct? is it not confusing choose entry position on feelings or analysis to?
Exactly what the3mp and samskara said.

Spend 10 hours a day watching a chart for a very long time (not weeks or months) and you'll start to understand it. You get a feel for how it moves and often get a feeling that 'this is going up' or 'this is going down'. It may not necessarily be a 'feeling', but could just be your mind recalling a time when you've seen the same thing happening in the past, but it comes across as a feeling. These gurus on the internet tell you to only trade what you see blah blah blah, but gut feel is massive, for me anyway. If you act on it you'll often get more than you initially were targeting aslong as you cut your losses when it goes the wrong way. Difficult to explain but the3mp and samskara have explained it better than I can.
  • #12,579
  • Mar 16, 2018 9:33am Mar 16, 2018 9:33am
Quoting Arturke
{quote} So basically it's like feeling 'telepathically' see what you or I can't see looking at the same charts ?
That's not what I said, also because telepathically doesn't mean that.
It's that some things are difficult to explain. It's the reason why in Forex just taking a set of rules and following them doesn't work. You can say 'my rules for taking a trade are x, y and z'. But actually when you take a trade there are 100 more things you look at, not all on the conscious level. That's the 'feeling' part, maybe calling it feeling it's wrong cause it's actually rational, but on a level that you can't explain. Especially for scalping, where everything happens in the moment and you gotta react really fast, with no time for a complete analysis.
You gotta trust your guts sometimes, cause it's actually experience that is talking in that moment. Luminous beings are we, not this crude matter
  • #12,580
  • Mar 16, 2018 10:37am Mar 16, 2018 10:37am
Quoting Vape
{quote} Exactly what the3mp and samskara said. Spend 10 hours a day watching a chart for a very long time (not weeks or months) and you'll start to understand it. You get a feel for how it moves and often get a feeling that 'this is going up' or 'this is going down'. It may not necessarily be a 'feeling', but could just be your mind recalling a time when you've seen the same thing happening in the past, but it comes across as a feeling. These gurus on the internet tell you to only trade what you see blah blah blah, but gut feel is massive, for me...
Quoting the3mp
{quote} That's not what I said, also because telepathically doesn't mean that. It's that some things are difficult to explain. It's the reason why in Forex just taking a set of rules and following them doesn't work. You can say 'my rules for taking a trade are x, y and z'. But actually when you take a trade there are 100 more things you look at, not all on the conscious level. That's the 'feeling' part, maybe calling it feeling it's wrong cause it's actually rational, but on a level that you can't explain. Especially for scalping, where everything happens in the moment and you gotta react really fast, with no time for a complete analysis. You gotta trust your guts sometimes, cause it's actually experience that is talking in that moment. Luminous beings are we, not this crude matter
so this 'feeling' come more from memories not from the guts base on see patterns in the past?
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