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Linuxtroll Simple Scalping

  • #2,901
  • Oct 22, 2007 12:16pm Oct 22, 2007 12:16pm
Quoting atomz
It looks like short. (Bobblong, even the price grid turned to 10 pips interval)
Good for aggressive buy... Guppy call it bubble trading... LoL
  • #2,902
  • Oct 22, 2007 12:17pm Oct 22, 2007 12:17pm
Quoting atomz
It turns against me, -3 pips or -15 pips or wait bit longer?
As expected...
  • #2,903
  • Oct 22, 2007 12:18pm Oct 22, 2007 12:18pm
Quoting atomz
Here we go but it could be -30 pips.
TP near h-line and flip... IFF you are an aggressive trader...
  • #2,904
  • Oct 22, 2007 12:22pm Oct 22, 2007 12:22pm
Quoting EllisEdi
I use around 3 pips when scalping the EURJPY for a couple of reasons.

First 3 pips is half of my target of 6 pips profit. This means I can have 2 losses for every win and still not be losing any money (not counting commisions). This works for me because I am running at approximate 90 - 95 % profitable scalps. This does not mean that I always exit at 6 pips profit, sometimes I hold longer based on what is happening in the market. But when I hit 6 pips profit I start looking for reasons to exit.
The second reason I use three pips is because I look for high probablility scalp trades. If price moves against by three pips I did not pick the entry properly. I get out and look for the next opportunity.

I once read that in trading, the first third and last third of a price move were the hardest to get. I am content with the middle third.

This works for me. It may not work for you. If you like use it as your guide till you find something that fits you better.

Remeber it is alright to "leave pips on the table".

--Mark
Way to go... Now you are ready to throw 50-100 lot scalps...
  • #2,905
  • Oct 22, 2007 12:23pm Oct 22, 2007 12:23pm
Hi LT,

If I am using tick charts do I change the setup by adding wma's or do I leave as is.
Thanks.
  • #2,906
  • Oct 22, 2007 12:27pm Oct 22, 2007 12:27pm
Quoting Yuppie
I've read it many places before... Pro traders don't use stops... As their exit... Disaster Stops? Yes... They close their positions... The positions do not get closed for them...

I am using -18 pips as my disaster stops... Have -10 pips in my head if things go wrong... Usually out for no more than -6 pips if it goes wrong... Almost never -10 pips [so far...]...

I think there was a -14 pips the other day though... It can move pretty fast sometimes... ...


Magnus
That's why professional scalpers use advanced tools to chase and bracket the pips and execute multiple strategies concurrently... We also like brokers with highest liquidity and lowest commission...
  • #2,907
  • Oct 22, 2007 12:34pm Oct 22, 2007 12:34pm
Quoting TheOne
Hi LT,

If I am using tick charts do I change the setup by adding wma's or do I leave as is.
Thanks.
Try both and watch both charts for a couple of days... Pick whichever chart that is pleasant to your eyes and brain... Whichever chart that talks to you...
  • #2,908
  • Oct 22, 2007 1:23pm Oct 22, 2007 1:23pm
Quoting linuxtroll
Do not spend too much time in chat rooms president... Focus on taking trades yourself... Jump in and out... More screen time... Practice... Chats and YouTube may be good for entertainment... Goal is to learn enter/exit and make money...
OK!
  • #2,909
  • Oct 22, 2007 1:42pm Oct 22, 2007 1:42pm
Boy EJ is talking it's sweet little time today!!!
  • #2,910
  • Oct 22, 2007 1:47pm Oct 22, 2007 1:47pm
Quoting bobblong
Tip: I've had a lot more quality scalps when the price grid is in 10 pip intervals. It'll help prevent stupid/losing/low profitability trades. Just my way.

Bob
Thanks for pointing that out Bob! It's a good "dud filter".
  • #2,911
  • Oct 22, 2007 2:03pm Oct 22, 2007 2:03pm
Quoting linuxtroll
Good for aggressive buy... Guppy call it bubble trading... LoL
I do not know Guppy in detail but I suppose Bubble buy trades would be in first 2 cases, not the 3rd time.
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  • #2,912
  • Oct 22, 2007 2:04pm Oct 22, 2007 2:04pm
This thread should be moved to the forex system area of the site since it is a system rather than the forex discussion area.
  • #2,913
  • Oct 22, 2007 2:04pm Oct 22, 2007 2:04pm
Quoting linuxtroll
Try both and watch both charts for a couple of days... Pick whichever chart that is pleasant to your eyes and brain... Whichever chart that talks to you...
Will do that, thank you LT.
  • #2,914
  • Oct 22, 2007 2:23pm Oct 22, 2007 2:23pm
Quoting linuxtroll
My recommendation is Screen Time on live account... Use the time you spend on chat, screen capture, over analyzing and drawing graph etc to Quality Screen Time and you will know which one to take, which one to ignore and where to enter/exit (less distraction to other users who tend to flock to see examples, chats, live demo from so called gurus etc)... You can always mark entry and exit after the fact, Gurus will flip and flop during the live sessions - that's why I did not give many examples in the e-book; but I clearly explained the rules and more than enough tips to get 90-95% successful hit rate - if you understand and follow it...

Everyday, you have many profitable entries... that's why 5 sec Cyrox Rainbow chart...
Those screenshots come from video recorded chart. I do not take screenshots while trading. I am scalping newbie and there is no point posting winning trades because many of them are lucky. I am in a profit for the day but who would not be in day like today.

Anyway, thank you for your feedback.
  • #2,915
  • Oct 22, 2007 2:42pm Oct 22, 2007 2:42pm
Quoting WHTenn
This thread should be moved to the forex system area of the site since it is a system rather than the forex discussion area.
It is not a system... It is a method and we are discussing this linuxtroll simple scalping method... Move it back to discussion...
  • #2,916
  • Oct 22, 2007 2:48pm Oct 22, 2007 2:48pm
Quoting EllisEdi
I have had trades that go against by 3 pips, I then look to price and decide if I let it ride or not, mostly I get out and look for another trade opportunity. If the trade goes against me by 3 pips and just kind of hangs out, I have let it run. It depends on past price action, general direction of market both 5 second and 30 second, how fast market is moving, did the trade move against me right away, did it turn into a loss very fast ... and many other thoughts flash through my mind.
--Mark
Mark, thank you for your answers also. I understand the round number, time exits, support areas etc, and as you say "many other thoughts flash through your mind" which are probably difficult to describe. I was looking for some if... then... rule. Maybe I will end up with 3 pips mental SL. I will see how my scalping evolves.

I suppose the answer would be screentime.
  • #2,917
  • Oct 22, 2007 2:57pm Oct 22, 2007 2:57pm
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting linuxtroll
My recommendation is Screen Time on live account... Use the time you spend on chat, screen capture, over analyzing and drawing graph etc to Quality Screen Time and you will know which one to take, which one to ignore and where to enter/exit (less distraction to other users who tend to flock to see examples, chats, live demo from so called gurus etc)... You can always mark entry and exit after the fact, Gurus will flip and flop during the live sessions - that's why I did not give many examples in the e-book; but I clearly explained the rules and more than enough tips to get 90-95% successful hit rate - if you understand and follow it...

Everyday, you have many profitable entries... that's why 5 sec Cyrox Rainbow chart...

LT, You are more experienced than I... You should therefore know your method, and how to teach it, better than anyone... Your advice and teaching method is simple... And has been the same since the start of this thread... And on other forums you have posted in prior to FF...

I am starting to see how [at least, some of] my postings may be interferring with how you teach your method... Whatever benefit people say they may get from examples, I must respect the way you are teaching your method... I will refrain from postings that may disrupt, in any way, the continuity of your thread, method, or way of teaching it...



Quoting WHTenn
This thread should be moved to the forex system area of the site since it is a system rather than the forex discussion area.
I also see your thread is getting a change of scenery...


Magnus
  • #2,918
  • Oct 22, 2007 3:15pm Oct 22, 2007 3:15pm
Quoting Yuppie
I am starting to see how [at least, some of] my postings may be interferring with how you teach your method...
Don't worry! LT will just keep annotating your charts! LOL
I think that when he affirms our "correct" posts and
corrects our misunderstandings, we all learn from it.
  • #2,919
  • Edited 9:01pm Oct 22, 2007 4:10pm | Edited 9:01pm
Quoting Yuppie
LT, You are more experienced than I... You should therefore know your method, and how to teach it, better than anyone... Your advice and teaching method is simple... And has been the same since the start of this thread... And on other forums you have posted in prior to FF...

I am starting to see how [at least, some of] my postings may be interferring with how you teach your method... Whatever benefit people say they may get from examples, I must respect the way you are teaching your method... I will refrain from postings that may disrupt, in any way, the continuity of your thread, method, or way of teaching it...





I also see your thread is getting a change of scenery...


Magnus
I do not know who moved it... 5 stars are gone too... Hope Merlin the Magic Man will move it back to discussion... I like to keep this thread under discussion - not under Trading Systems... or create a new forum Scalping and move all the scalping methods there...
  • #2,920
  • Edited 7:28pm Oct 22, 2007 7:05pm | Edited 7:28pm
Quoting atomz
I do not know Guppy in detail but I suppose Bubble buy trades would be in first 2 cases, not the 3rd time.
no, guppy bubble would be where i marked it in yellow

what linuxtroll meant was probably going against the trend on a crashing bubble
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"Nothing is unexplainable, Everything is mystery" W. Liquorman
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