Scalping the pip out of it | Page 2 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Broker with a pip by pip trailing stop 24 replies

Pip by pip - my trading journal 21 replies

Elite eFibo Trader - 200 pip gain turns to 2000 pip gain 14 replies

GBP/USD daily pip movement vs. EUR/USD daily pip movement 3 replies

100 pip STOP for a 100 pip Target 7 replies

Attachments: Scalping the pip out of it
Exit Attachments

Scalping the pip out of it

  • #21
  • Apr 10, 2008 5:44pm Apr 10, 2008 5:44pm
I usually scalp the 5 min. The 1 gets a little whipsawy for me sometimes. I like to set up fibs on higher TFs and then look for gartleys on the low ones. I use the moving averages as moving support and resistances.


Lol i guess someone was reading. Hit me back with anything like to scalp or are are taking a look at in the market.
  • #22
  • Apr 10, 2008 5:58pm Apr 10, 2008 5:58pm
Here is a great example, You have all the key elements.

Get er done

I love Fib extensions
Attached Image (click to enlarge)
Click to Enlarge Name: April 10(3) 08.jpg Size: 464 KB
  • #23
  • Apr 10, 2008 6:04pm Apr 10, 2008 6:04pm
Quoting Piitb
Forex is one of those things you have to evolve with or you will be left behind. We all need to study every day.
Honestly, that is so true. Market conditions are always changing, we need to adapt. This is why most traders fail, they fail to adapt.
  • #24
  • Apr 10, 2008 6:05pm Apr 10, 2008 6:05pm
I cant believe i am giving this away for free
  • #25
  • Apr 10, 2008 6:19pm Apr 10, 2008 6:19pm
Quoting Piitb
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
Nice thread. I like your point that you make on fibs. they truly are powerful! Do you fib the weekly, the daily and the most recent move of a pair???
Things can get Real ugly, Real quick!!!
  • #26
  • Apr 10, 2008 6:26pm Apr 10, 2008 6:26pm
I draw S&P lines and fibs on the 4hr. I draw Fibs down from there. Sometimes i look at the daily and weekly. But i usually have 4 timeframes up at once on two screens. And trade off of the 5
  • #27
  • Apr 10, 2008 6:29pm Apr 10, 2008 6:29pm
Price action keeps butting against a big fib on the hourly. Also a big previous low. Great spots to try to qualify a shorty. 201.3 is a rough spot for brits right now
  • #28
  • Apr 10, 2008 6:45pm Apr 10, 2008 6:45pm
Thank you for the hit Atltrader.

Do you trade?? May we see some of your thoughts in chart form??
  • #29
  • Apr 10, 2008 7:07pm Apr 10, 2008 7:07pm
Here are some freakin bollinger bands. Truly i hate them. But they are what they are, scalping techs. Anyways. when price rides a band look to stoch to get you in counter trend.

" The only time it is ever okay to choke a woman is during sex!"
-Robert Rivera:surprised
  • #30
  • Apr 10, 2008 7:08pm Apr 10, 2008 7:08pm
OOOPS forgot the graph.
Attached Image (click to enlarge)
Click to Enlarge Name: April 10(4) 08.jpg Size: 438 KB
  • #31
  • Apr 10, 2008 8:33pm Apr 10, 2008 8:33pm
This next one is the bread and butter of trading. Please if anyone reads this and doesnt get any part of it ask. I will explain.

This is a scalp. If you look at the chart later and you see nothing where i drew this example it is because I only wanted 10-15 pips. Hence the term scalp.

I scalp with an 8 Pip spread and I still kill it.
  • #32
  • Apr 10, 2008 8:34pm Apr 10, 2008 8:34pm
Perfect confluence. 15 and 5 min. well maybe not perfect. but it is still pretty good. hehe.
Attached Image (click to enlarge)
Click to Enlarge Name: April 10(5) 08.jpg Size: 438 KB
  • #33
  • Apr 11, 2008 1:09pm Apr 11, 2008 1:09pm
Here is the last one of the week

Point to look for. Angle of ema I am always trying to trade in the direction of the ema and use it as a support/resistance( s/r)

I always look for opps to get in on retrace with trend.

Q: If a woman complains in the forest and no one is around to hear it, is she still overreacting, " Honey is was just a peck on the lips......I know she is your younger sister......baby listen......... i think you are totally overreacting."

  • #34
  • Apr 11, 2008 1:10pm Apr 11, 2008 1:10pm
all about retrace opps. that is life. winning on the retrace
Attached Image (click to enlarge)
Click to Enlarge Name: April11 08.jpg Size: 450 KB
  • #35
  • Apr 11, 2008 1:23pm Apr 11, 2008 1:23pm
I would like to see you call the trade before you make it. It's a lot different then looking at a chart and showing what happened, or could have happened in the past.
All that is left in FF is just plain garbage. "Cloggie"
  • #36
  • Apr 11, 2008 1:26pm Apr 11, 2008 1:26pm
I will do that for you next week

I like where you are going with this.

I start being right..... I will send you my paypal acc and you can just transfer a commission on the ones i am right.

: JK

On the real though. How about someone else post some graphs. Or some scalping thoughts. Or some anything.

i love you guys
  • #37
  • Apr 11, 2008 1:36pm Apr 11, 2008 1:36pm
Just so we are clear, I am not here to float traders who are too scared to get wet in this market. I am here to talk to other traders about theory. I am not here to give signals to a bunch of unappreciative wannabes for free.

ps I am not talking to you tonyo. From what i have read you post you are not who I am talking to.

I would love to hear other people talk about any indicators they think are good. I Would love to see ONE person post ONE graph. then we can discuss it.

An open dialog anyone?? Anyways i think it will be fun to call them ahead of time. But i want someone to tell me something i dont know, might be hard to do. LOL,
  • #38
  • Apr 11, 2008 1:40pm Apr 11, 2008 1:40pm
Quoting Piitb
Just so we are clear, I am not here to float traders who are too scared to get wet in this market. I am here to talk to other traders about theory. I am not here to give signals to a bunch of unappreciative wannabes for free.

ps I am not talking to you tonyo. From what i have read you post you are not who I am talking to.

I would love to hear other people talk about any indicators they think are good. I Would love to see ONE person post ONE graph. then we can discuss it.

An open dialog anyone?? Anyways i think it will be fun to call them ahead of time. But i want someone to tell me something i dont know, might be hard to do. LOL,

Thanks, because i was just about to say ay, I'm with you brother. http://www.forexfactory.com/images/icons/icon10.gif

But there are a lot of idiots out here that would say the same thing but with malice.http://www.forexfactory.com/images/icons/icon9.gif
All that is left in FF is just plain garbage. "Cloggie"
  • #39
  • Apr 11, 2008 1:54pm Apr 11, 2008 1:54pm
Dude, I don't know a damn thing about scalping but I'm going to watch this thread like an eagle looking for a kill. I would contribute but I have nothing to offer. It's your attitude that's impressive. I could only hope this thread takes off to new heights. If not, then I will just resort to reading the powder-puff threads, because they are all over this forum.
  • #40
  • Apr 11, 2008 1:55pm Apr 11, 2008 1:55pm
It is basically Imran's system, but with a couple of more indicators.

I use the Osma as my first signal being that it leads the Macd by about a minute.
I look for the first 2 bars to form on the osma. The 50sma has to support the direction of the trade. such as if I'm buying, I want to see my las closing bar above, and for selling vice versa. The Rsi has to be above the the 50 for buying and below for selling, or heading to the relevant direction. The Macd has to be heading to the relevant direction. and then the Imran indicators all have to support this. Yeah I know, that's a lot of ish to wait for but hey, I have all the time in the world. Once in take profits, I let run with 50 pip stop loss. (IBFX spreads are insane.) I also start off with 50 pip stop loss, and incorporate Jacko's anti hedge method as a back up. I will post the system in action sometime next week being that live trading is shut down for me for the weekend. Plus the GJ was consolidating anyway. One more important thing, I mostly try to trade in the direction of the daily trend.
Attached Images
All that is left in FF is just plain garbage. "Cloggie"
0 traders viewing now