PVSRA Scalping with Cigarguy

UJ +98.1



This morning ECT, UC and UJ where the best setups and short trades:



I stopped trading now to avoid the Friday Close this afternoon as it may jump my Short Trades as the MMs on certain Pairs (i.e. EN) widen the spread at the end of the day to collect their final Pips and closing their Books.

BTW, as time allows I practice using FX Blue - Trading Simulator v3 on the weekends to keep practicing !

Have a great and safe weekend Friends.

- John

My results today during a Friday morning ETA was $17.91:



Next month, I am hoping to reach an average of $20 a day to obtain approx. $400 a month. So, I am hoping for !0% (Davit) at least, but my have about:

$20 x 20 work days or $400 next month, so $400/$3000 x 100 or approx. 13%.

Regards again,

-John

Hey Michael,

Don't bother, I will just stick on my personal Journal. It is better for me to do so not to insult anyone here. It just makes more sense to me. I only thought I would share how I trade as in the past I was asked to do so here by several members including you. (see prior Posts a few weeks ago).

BTW, the %DD I am talking about is a dynamic one that ends up being 0% (see my Stats above).

But, respectively thanks anyway. I completely understand your point and do not want to muddy the waters here anymore.

Regards,

-John

hi.....

I saw your post your views .davit pivot system and pvsra both are differnt profitable proven system.combination both doesnt make any good.more indicator means just fixing a/c on motor bike that all.just useless.

maybe your posts better to keep in your journal.it will help people distracting from original pvsra method.

some people think certain combination of indicators gives more accuracy but that just illusion.

plese dont take reply personal


thanks

Hi Simjo,

Thanks for your post.

May I suggest that if you are driving a car and come to a traffic light that is Red, you only need to see it to believe it. You don't need 15 senors all telling you the light is red. If a trader has 10 indicators on his chart that indicate a short trade is possible the trader still has no idea where the market will go from there -- none. As a matter of fact a chart with no indicators on it may be much more accurate. PA is King!

Some one estimated that there are well over 10,000 MT4 indicators available to the public free. Would the Holy Grail of Trading be achieved if all 10,000 were placed on one chart. I think Not.

Free standing PVSRA comes about as close as a trader can get to an Indicator free chart.

Mark Douglas

American financial trader and trading coach


Your primary goal has to be to learn how to think like a consistently successful trader.
Remember, the best traders think in a number of unique ways. They have aquired a mental
structure that allows them to trade without fear and, at the same time, keeps them from
becoming reckless and committing fear-based errors.
Mark Douglas
The consistency you seek is in your mind, not in the markets.
Mark Douglas
If you can learn to create a state of mind that is not affected by the market's behaviour, the
struggle will cease to exist.
Mark Douglas
When the internal struggle ends, everything becomes easy.
Mark Douglas
For those who have learned how to be consistent, or have broken through what I call the
"threshold of consistency," the money is not only within their grasp; they can virtually take it
at will. I'm sure that some will find this statement shocking or difficult to believe, but it is
true.
Mark Douglas
If someone or something is against you and causes you pain, how are you likely to respond?
You'll feel compelled to fight, but what exactly are you fighting? The market is certainly not
fighting you. Yes, the market wants your money, but it also provides you with the
opportunity to take as much as you can.
Mark Douglas
Five fundamental truths:
1. Anything can happen.
2. You don't need to know what is going to happen next in order to make money.
3. There is a random distribution between wins and losses for any given set of variables that
define an edge.
4. An edge is nothing more than an indication of a higher probability of one thing happening
over another.
5. Every moment in the market is unique.
Mark Douglas
When you really believe that trading is simply a probability game, concepts like right or wrong
or win or lose no longer have the same significance.
Mark Douglas
Putting on a winning trade or even a series of winning trades requires absolutely no skill. On
the other hand, creating consistent results and being able to keep what we've created does
require skill. Making money consistently is a by-product of aquiring and mastering mental skills.
Mark Douglas
When you genuinely accept the risks, you will be at peace with any outcome.
Mark Douglas
It's the ability to believe in the unpredictability of the game at the micro level and
simultaneously believe in the predictability of the game at the macro level that makes the
casino and the professional gambler effective and successful at what they do.
Mark Douglas
The hard, cold reality of trading is that every trade has an uncertain outcome.
Mark Douglas
When you achieve complete acceptance of the uncertainty of each edge and the uniqueness
of each moment, your frustation with trading will end.
Mark Douglas
One of the many contradictions of trading is that it offers a gift and a curse at the same
time. The gift is that, perhaps for the first time in our lives, we're in complete control of
everything we do. The curse is that there are no external rules or boundaries to guide our
structure, our behaviour... The very reason we are attracted to trading in the first place -
the unlimited freedom of creative expression - is the same reason we feel a natural resistance
to creating the kinds of rules and boundaries that can appropriately guide our behaviour. It's
as if we have found a Utopia in which there is complete freedom, and then someone taps us
on the shoulder and says, "Hey, you have to create rules, and not only that, you also have
to have the discipline to abide by them."
Mark Douglas
Trading is not about being right or wrong. It's a probability game.
Mark Douglas
Trading rule 1: Predefine what a loss is in every potential trade.
Trading rule 2: Execute your losing trades immediately upon pereception that they exist.
By predefining and cutting your losses short, you are making yourself available to learn the
best possible way to let your profits grow.
Mark Douglas
What makes trading so fascinating and, at the same time, difficult to learn is that you really
don't need lots of skills; you just need a winning attitude.
Mark Douglas
One of the principal reasons so many successful people have failed miserably at trading is
that their success is partly attributable to their superior ability to manipulate and control the
social environment, to respond to what they want. To some degree, all of us have learned or
developed techniques to make the external environment conform to our mental (interior)
environment. The problem is that none of these techniques work with the market.
Mark Douglas
The proper execution of your trades is one of the most fundamental components of becoming
a successful trader and probably the most difficult to learn.
Mark Douglas
The typical trader doesn't predefine his risk, cut his losses, or systematically take profits
because the typical trader doesn't believe it's necessary. The only reason why he would
believe it isn't necessary is that he believes he already knows what's going to happen next,
based on what he perceives is happening in any given "now moment."
Mark Douglas
The goal of any trader is to turn profits on a regular basis, yet so few people ever really make
consistent money as traders. What accounts for the small percentage of traders who are
consistently successful? To me, the determining factor is psychological - the consistent
winners think differently from everyone else.
Mark Douglas
When I put on a trade, all I expect is that something will happen.
Mark Douglas
It's when you're winning that you are most susceptible to making a mistake, overtrading,
putting on too large a position, violating your rules, or generally operating as if no prudent
boundaries on your behaviour are necessary.
Mark Douglas
What you want to do is become an expert at just one particular type of behaviour pattern
that repeats itself with some degree of frequency. To become an expert, choose one simple
trading system that identifies a pattern, preferably one that is mechanical, instead of
mathematical, so that you will be working with a visual representation of market behaviour.
Mark Douglas
Do the best you can to pay yourself at reasonable profit levels when the market makes the
money available.
Mark Douglas

Can somebody explain the entry and exit rules shortly.
Thanks

ALL is at Post #1.....you must read and study the many excellent posts as ALL HERE have done.

No short cuts to success ...


Cigarguy

Good Day Cigarguy,

jst subscribed this PVSRA thread and downloaded files Post 1....

Still reading the thread.... by nxt week try to attached this indicator for my Demo acct to monitor.
Is there any updates form those files in Post #1... if so kindly sent me the link for the updated one.

Best Regards

Eggsy

Welcome....ALL is here.
CG

Let us ALL have a great trading week....

Cigarguy

EURJPY M1 -0.2PIPS LONG

I could have made 4.9PIPS of profit but I didn't close the trade because it didn't hit 5 pips.
So, it hit my stop loss that was set to break even. I lost 0.2pips.

Reason:
- I entered long after a huge red candle failed to break the Dragon downwards.

USDJPY M1 2 trades , total 6 pips

2 trades for the same reason: engulfing pattern that failed to break the Dragon downwards.
I had to stop both of them because of phone calls. This is what I get for trading during office hours.

EURUSD M1 +3PIPS

Break of the previous low.
I didn't stay in the trade because I got a red candle with volume that was much smaller than the previous red candle so I imagined that I could experience a retrace, so I closed the trade with 3 pips of profit.

EURUSD M1 Counter Trade +3.4PIPS

There was a red candle that stopped just below the key level and after a while, we got a green candle with the same amount of volume that broke the key level upwards.
I thought this could indicate that a reversal to the upside was coming soon, so I entered here.
I closed it when I got a green candle that closed just on the Dragon and I got 3.4 pips.

UJ M1 +5 Explanation on chart

Hello,

I've been reading through this thread for a week now and have few questions if that is okay:

1.) I was not able to find the difference in colours of the volume bars. Could anyone give me a quick explanation what each colour mean and if the volume bars that are thin and basically "colourless" have any meaning and are taking into consideration?

2.) Are the levels areas or lines in that case?

3.) Would it be possible to put this method into rules and core criterias? For example, a trade has to happen around the level. Or we only trade if we see a volume candle recently. I am still confused how I should tackle this method best.

Thank you!

1.) Open MT4 -> Tools -> Meta quotes language editor (or press F4) -> Indicators -> Volumes suite. Here you can read about the volume indicator and what the different colours represent.

2.) Not sure waht you mean? The levels we use, 1/4 - 1/2 - round, are not areas but specific prices.

3.) There are no set rules but a few different ways in which we use PVSRA. Some people like breakouts, others trade pull backs or other types. Your best bet would be to read through the thread and study the posted charts. Then look for similar set ups that get posted and look to trade the same until you become more confident.

Appreciate the answer Vape.

Regarding the levels, I am curious if, for example, price leaves a wick on these levels (which you say are specific prices, thus lines), if we could see this as a rejection or do we see them as areas where we have to watch PA closely when price is inside these areas to spot a reversal or a trend continuation pattern. I hope it makes sense.

Regarding the set rules, I am mostly curious about pullbacks and trading them within the trend. I suppose PVSRA covers this? Any specific member follows this type of trading? Since you guys are so many here, it is tough for me to spot that particular trader that is consistent and that I can follow.

Cheers

Hey Rob,

one question here:

The red candle, which clue did it give exactly and why? Do you mind explaining?

Cheers

The red candle is a very good clue. Why? Usually, if you got a green candle, for the trend to stay bullish, that
green candle needed to break the key level. But it didn't. It stopped right on the key level, without being able to break it.
Look at the volume bar. It is huge. You got a huge green bar there.

Next, look at the red bar. It is huge as well. And the red bar also couldn't break the key level on the chart.
Moreover, you got that red candle right after the green one.

After that, you can see that some gray candles broke the key level. People who don't know PVSRA would think that those candles mean a break, so those people would open a BUY position at that level, and would eventually lose money. But for us who know PVSRA, we know that those gray candles are just distraction.