Scalping the pip out of it

Hello
Forex is one of those things you have to evolve with or you will be left behind.
We all need to study every day.

A couple of rules?( .... And thirdly, the code is more what you'd call "guidelines" than actual rules}Pirates of the Caribbean lol....)

Please don't fight or bicker. Standard

Lots of chart attachments please.

Please describe in detail what why when. Blah blah blah.

I have been trading for about 8 years. I have lost plenty of money doing this, and guess what new traders. THERE IS NO WAY AROUND IT. There is no way to play football without getting stuck once in a while. DEAL!!!!!! If you can outlast the learning curve you will make a lot of money.

I put all my screenshots into photoshop and crop them. They blow up nicely in windows picture and fax viewer.

Put it in the bank!
Piitb

PhoenixForex

What I have done here is locate a confluence of indications. First of all I need to explain that market flow is down on the 4 hr and 1 hr charts.

My moving averages have angle and separation on higher time frames.

MACD has a&S down on 4hr, and is well under waterline on 1 hr

What you are seeing in my pic is a confluence of Stoch RSI Fibs and EMA'a

Price is simultaneously hitting the 50 ema 15min Fib retrace 15min, The 20 ema 5min. Stoch over bought 5min and RSI overbought 5min.

I got in at exactly the Fib retrace which lined up almost exact with the 50 EMA and didnt get any blow-through at all.

Hope you get something out of this


Put it in the bank
Piitb

may i kindly suggest that if you don't want to consider suicide once again any time soon, you switch from scalping to something a bit longer term? like hourly or 4hr charts maybe?

honestly, you say you've been doing it for 5 years...i think you still may be struggling or barely making a small profit by the way you sound.

it would be much wiser to admit that what you've been doing so far hasn't been very effective and start trying something else.

i don't know the reasons why you scalp...maybe you don't have time to watch the market longer? either way, it's not worth sacrificing years of your life over it, not to mention your sanity.

trade less, on longer time frames with more profit.

I respect your opinion. But seriously. Lets talk scalping. Thats the only reason for this thread

nice thread..

did u have method for a scalping technique?
what indi do u use in ur method?

I use a few different indi's on different TF's

Macd on all the higher TFs I Dont bother with it on the 5 min.

Slow stoch 10.5.3

5 line EMA

RSI on the 5

and FIBS every where i can draw them

BTW the trade that i showed. I made 10 pips but it went for 30ish.

thankz 4 explaination..
so u are scalper isn't? ok wish good trade 4 u

This is more of the same. Stoch overbought Fib levels overbought. EMAs and previous highs

his was a setup where there was negative divergence on macd. So i waited for the fib retrace and took it.

Got to get in EXACTLY at the support or resistance. Dont wait for confirmation. Less risk.

" No time for love Doctor Jones"

Classic Fib at previous low. Stoch over bought. easy.

Really anyone can feel free to jump in here. LOL

News changed the direction of this one. Stoch oversold at a previous low with a 61% fib=

Although we had a run up. GJ is still in a heavy downtrend and Market flow is down on higher TFs. I am still looking to short at every opp. Still below 50ema on higher TFs. Right now GJ is encountering resistance for possible resumption of downtrend. Price is running into Fibs and Order Zones.

I like to wait for it to go and trade the retrcements

=)

GJ is going to go south. evening star setting up on 1 hr. Stoch on 1 hr and 15 min overbought. It might come down for 30-50 pips in the short term. I wont get in because my risk is too high. I need immediate entry on fib levels to limit risk. If it pushes down i will look for a retrace to get in again

or i could be completely wrong. ROFL
i love this game

I think it is funny that i am the only one in my stupid forum thread. But if you look at the freakin chart I CALLED A 40 PIP MOVE IN REAL TIME!!!!!

if no one wants to play with me i will play with myself

hahaha. JK

kudos

Like I said.....

wait for it to push then retrace. Good for 25 pips. =)

this is real scalping.

61% fib is lower risk trade than 50 or 38 because your stop is tighter. I try to mainly us 61 or 76 on lower TFs I like 50 on higher TFs as well

I see a lot of people talk about the value of trading higher timeframes. Or trading fundamentals. Their reason being that they are somehow rising above the chaos( thanks tdion ). As usual most people are about as far away from a practical or technical correctness. TRADING TECH IS THE ONLY WAY TO LIMIT YOUR RISK TO A VOLATILE MARKET. Lets face it, and you will have to excuse me if you take offense, a plane can crash into a major financial building at any moment. When you have heavily leveraged positions you can get completely screwed by the idiots who run the countries that we have to live in.

One thing that needs to be addressed is market orders. When you see big spikes, a couple of things can be happening. Some douche bag billionaire is coming into the market. Also it can be a place where limits are getting filled or stops are being taken like crazy. What a lot of people do not realize it that there are specific places where institutions place there market orders. Know this. All of the spec index forex( me and you ) make up just about fuck-all of the market. Institutions like deutschte bank, UBS, RBS group. these are the players for a trillion plus a day! Your market orders dont mean shit compared to that. Where they have placements for limits or stops will move the market. so in a sense trading tech IS trading fundy.

When you get a feel for where there are blocks of orders there will be movement. On a smaller scale. Fibonacci's do a similar task. Major funds move trailing stop losses at fib levels. Why ? who knows why fibs work in a market setting at all. Lets be honest.

If you are getting in a confluence points at exact fib levels, you are limiting your exposure to the market becasue you have less stop loss risk.

LESS STOP LOSS RISK!!!!!!!

that is the only risk in the freakin market people. Your stop loss. Risk/reward ratios can be argued for different trading styles. Blah blah blah.

The bottom line is risk. And the point is scalping with confluencing fibs IS THE TIGHTEST RISK SYSTEM AT ALL> there is no way to argue that point. Either the world is flat or is in not. Cant be both.

The point it to trade with probabilities on your side while minimizing risk.
For some reason indicators work sometimmes.
the more confluencing indis you get there closer to a perfect trade you drift.

I would say something sentimental like i love you guys and good luck trading but no one reads my shit anyways

ROFLcopter

put it in the bank
piitb

Which do you prefer, scalping i minute or 5?

552 views so, someone is reading your post!

oo7_ts