Scalpers Go Here

Quoting tonyj

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Hanz: That's what everyone in all the forums have asked me. Has ever
anyone on these forums ever told you not to trade the markets? Of course
not. Did anyone ever tell you that more traders have lost their homes,
their marriages, their friends, all their money....and even murdered because
in trading the market? Yeah....maybe a hint, here and there. I made mine
in commodities....A MILLION?...no...but enough to be finanically independ-
ent. Yes...it's nice to have it. But was it worth it? NO. You don't know
who I am...you haven't the slightest idea what I've done in my 83 years
on this earth, but if you did you might be really surprised. But I will tell
you this....MONEY is not the solution. In fact, once you get it...you'll
find it harder to live with yourself than before. Just what have you
really accomplished by trading? There is a difference between Bill Gates
and Warren Buffet. One took a product and developed it...and now
you and I are debating a question via this product....a product that
changed the whole world. The other guy...Buffet....lost about 2 million
dollars trading the currencies and lost. But it didn't faze him one bit.
But his trading had no affect on our lives. Why am I here on this forum?
I've asked the same question myself. Why in the hell should I try to help
you or anyone else? Even waste my time? I'll tell you why....because you
and everyone else haven't the slightest idea the ordeal you'll have to
contend with. Especially when you have only a couple hundred dollars
or even a couple thousand. Where you will make a mistake and get wiped
out completely. Where you see your wife take a product off the shelf...
then put it back because she is trying to save 4 cents....and you just
lost thousands. That's just a sample. Oh, sure....there'll be those out
there who will make a remark to the above example to justify their own
attempt. As if, by their ridicule, it will enhance their own justification and
as if that will make their own reason just that more real. But...it won't
change the odds. They will still lose...and pay more than just money.
O.K.......but you still want to try it. AND WHY NOT? "I hate my damn
job....putting up with my boss for eight hours a day. See no future in this
f------ job". And there is a chance in the forex market. Remember, I
mentioned the "stock and commodity" market. There is a huge difference
between commodities and the forex market. There is a hell of a difference
between the forex and the other markets. I disagree with Joe Ross and
his vibrations against the currency market, even though I carried his
message on a number of forums. I started to trade the same time as Joe
Ross back in the late 1950's. He knows more about trading than I'll ever
know...but I don't think he knows that much about the forex. All the
gurus out there are talking about trading with money. Something like
$10,000...$25000. Guys like Joe Ross have around 50 thousand to a
hundred thousand in their coffers. But you have only a couple hundred
dollars and you had to work your ass off to get that. You don't even have
a pea shooter and you're going to try fighting someone with a tank? O.K...
so you may have a heavy duty rifle, and you're out hunting in rhino
country. The rhinoceros comes charging at you....you left up this heavy
rifle and hit right smack in the middle of his forehead. And he is still coming
at you. Now....WHO IS IN TROUBLE? There is a way to do it in the forex.
You can get into the forex market by going with the micro account...but
first going via the demo. I explained it above. With the micro....you're
playing with a dime gain or loss. But at least you're not betting your
wife or kid on making a fortune. The rest????......you should know the
rest. If you don't...then leave and don't come back. It wouldn't hurt
to "pray to God". To pray for the money? No....pray to him to help you
beat this "greed"...this "fear"...within you when you start to trade. Pray
to him to find happiness.....not MONEY. Believe me....I'm telling you
something that someone who has been down that road. Your greatest
salvation is in God...no matter what your faith. I'm old....and I probably
don't have that long of a time left. But when they pronounce me dead...
I WANT A SECOND OPINION. The first one may have gotten his Medical
degree via a correspondance course.

Ignored

Quoting smileslee

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Hey Bluefish;

I use the 1 and 5 minute time frame when scalping. I also use the 30 minute and 1 hour time frames as reference just to get a broader picture of where the trend is going. If I'm getting conflicting information on the 30 minute and 1 hour charts I'll look at the 4 hour and daily charts for a broader perspective.

I never trade anything that's not moving more than 10 pips in a 5 minute time frame. When I look for a possible trade that means that the candle sticks have to be at least 10 pips in length before I'll consider scalping it, not including the wicks.

I also look for channels (sometimes referred to as box formations) and trade both the channels and the breakouts. I find that most channels will modulate 5 points of resistence and support before breaking out. As an example, the chart may rise to a certain level (the first point; resistance) then fall to another level (the second point; support). Then it will reverse and rise to the same level of resistence (third point) before falling again to the already established level of support (forth point). One more move to the previous level of resistance (fifth point) and you have the perfect channel. Now I'll look for one more reversal leading to a breakout. Usually after the breakout it will do one more reversal and move in that direction to a level that is equal to 3 times the width of the original channel.

I call this formation an "M" channel. Equally, you will also find "W" channels which is merely a mirror image of the "M" formation. "W" formations will usually breakout to the short side while "M" channels will usually breakout to the long side.

If using this method keep in mind that when you decide on your support and resistence levels keep it tight..... set your levels of support and resistence based on the lowest peak of resistence and the highest level of support.

I've gained an average of 100 to 150 pips a day, giving an average of 3 pips per trade to the broker. I do about a dozen trades a day to achieve my goals. That means it's costing me an average of 36 pips to the broker every day on the average. When trading this aggressively I have been able to increase my account by as much as a 100% in a month. If anyone thinks you can't be successful as a scalper and is willing to waste his time trying to prove it by using some sort of hypothetical mathmatical formula is being naive.

Ignored

Quoting smileslee

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Hey Bluefish;

I use the 1 and 5 minute time frame when scalping. I also use the 30 minute and 1 hour time frames as reference just to get a broader picture of where the trend is going. If I'm getting conflicting information on the 30 minute and 1 hour charts I'll look at the 4 hour and daily charts for a broader perspective.

I never trade anything that's not moving more than 10 pips in a 5 minute time frame. When I look for a possible trade that means that the candle sticks have to be at least 10 pips in length before I'll consider scalping it, not including the wicks.

I also look for channels (sometimes referred to as box formations) and trade both the channels and the breakouts. I find that most channels will modulate 5 points of resistence and support before breaking out. As an example, the chart may rise to a certain level (the first point; resistance) then fall to another level (the second point; support). Then it will reverse and rise to the same level of resistence (third point) before falling again to the already established level of support (forth point). One more move to the previous level of resistance (fifth point) and you have the perfect channel. Now I'll look for one more reversal leading to a breakout. Usually after the breakout it will do one more reversal and move in that direction to a level that is equal to 3 times the width of the original channel.

I call this formation an "M" channel. Equally, you will also find "W" channels which is merely a mirror image of the "M" formation. "W" formations will usually breakout to the short side while "M" channels will usually breakout to the long side.

If using this method keep in mind that when you decide on your support and resistence levels keep it tight..... set your levels of support and resistence based on the lowest peak of resistence and the highest level of support.

I've gained an average of 100 to 150 pips a day, giving an average of 3 pips per trade to the broker. I do about a dozen trades a day to achieve my goals. That means it's costing me an average of 36 pips to the broker every day on the average. When trading this aggressively I have been able to increase my account by as much as a 100% in a month. If anyone thinks you can't be successful as a scalper and is willing to waste his time trying to prove it by using some sort of hypothetical mathmatical formula is being naive.

Ignored

Quoting Syafi

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Tony, How many tick ? 1 or 5 ?.
you come penang to renew your Thai Visa ? ..
can come to my house.. anytime.

Ignored

Quoting tonyj

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Syafi:

Will be glad to meet you....but at my invitation to a certain eating spot...
forgot the name. But I can ask my Malaysian born daughter-in-law. I'm
still working on my "tick theory"....to see what relationship it has with
Fractal Geometry. I hope to try to get a post going on this forum... that
is in regard to Fractal Geometry....if they would allow such a renegade as
myself to be allowed to open his smacking lips and tilt the brows to that
questionable angle. That is....the sine, cosine and tangent angles....and
the hiccuped version by Karl Weierstrass with his "Continouous Functions
of a Real Argument that do not have a Well-defined Differential Quotient".
Maybe even throw in a couple Cantor Sets to spice up the brew.
Tonyj

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Quoting tonyj

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All you scalpers:
Right at this moment with Eur/USD.....it's around 10:30 EST. If you know
anything about "sitting ducks" (I guess I'm the only one)....the "ducks are
lining up in the ticks". Jump up to the minute....and Voila...there you see
the "toy soldiers"....les petit....all lining up. Remember what I told you in
my other gabs on this forum....IT ALL STARTS WITH "TICKS"...you have
the "sitting ducks" in the ticks. In the "minutes" you have the Les Petit
Soldats... So what does all this mean. It's the "time"....time here in New
York...and they finishing up in London. Right at this moment...what is going
to happen? HELL...I don't know. Ticks....one minutes, five etc...they all
have patterns. It'll probably go south.
caio

11:07 Market went down to 1.3605 and then went back up to 1.3617...then started
back down again. You had 12 pips to get your 5 or 6 pips clear with the cost of spread.
You long timers are seeing how we do it. Sure...we'll probably get bagged now and then.
Tonyj
At 11:07 I have an indicator that said "wait"....it then went up and broke a trend line
in a minute time frame. Now it's the "ducks" at their roost at 1.3622. You sit on your
hands and wait for the "ducks" to start hopping from one roost to another here...or they
start dipping their wings to start flying. It's 11:24....the ducks are lining up....now it's a
waiting game....waiting for the next flock....time to switch to other crosses and compare.
ciao
tonyj
11:34 The "ducks" are roosting. There was a "feint" up to 1.3623...but there ain't any
gun shots around. so "ya'll sit on yo hands....y'heah".

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Quoting libertao

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@Andy12

What sort of scalping method are you using?

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Quoting linuxtroll

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Jump in and ride the wave on Rainbow chart... I do not need EFX to scalp... I can scalp all day... eurusd 5 sec chart at Oanda... LoL

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Quoting hanz

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http://www.openecry.com/images/DOM/dom.gif

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Quoting dream4succes

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How you really implement Rainbow on Oanda Charts. I know How in MT4 but have no clue in Oanda Please post info.

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