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Scalping the pip out of it

  • #261
  • Oct 1, 2008 9:13am Oct 1, 2008 9:13am
http://i35.tinypic.com/6i7i37.gif

I scalp use support resistance and candle kolar. I make good pips.
My english not so good. I soory.
  • #262
  • Oct 1, 2008 12:22pm Oct 1, 2008 12:22pm
Quoting ingvardagmar
http://i35.tinypic.com/6i7i37.gif

I scalp use support resistance and candle kolar. I make good pips.

Thanks for the post. If you can please explain what you are doing in the graph that you have posted. Is " candle kolar " a proprietary software or just and indicator. I hope you get something out of the thread and see you around

piitb
  • #263
  • Oct 1, 2008 12:40pm Oct 1, 2008 12:40pm
Here it is hot off the press!!

Standard. market flow down. Wait for a retrace and get in on confluence.

If anyone decides that they should be paying me for this incredible threads i will give bank wire instructions. LOL

Ship it!!!!!
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  • #264
  • Oct 1, 2008 1:10pm Oct 1, 2008 1:10pm
There is a very similar setup on the EUR USD right now, But can anybody see why it is not the same?
  • #265
  • Oct 1, 2008 1:40pm Oct 1, 2008 1:40pm
Stochastical divergence. Stoch was not at the top. It had peaked a couple of hours ago. luckily the confluence was enough to push it down
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  • #266
  • Oct 1, 2008 6:56pm Oct 1, 2008 6:56pm
This one is a little more risky because we have no pivots or swing high/low. I trail it close with a 15 pip trailing stop and lets see what we get
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  • #267
  • Oct 1, 2008 7:02pm Oct 1, 2008 7:02pm
up 35 pips and locked in 15
  • #268
  • Oct 1, 2008 7:09pm Oct 1, 2008 7:09pm
up 60 locked in 45
  • #269
  • Oct 1, 2008 7:13pm Oct 1, 2008 7:13pm
Stoch was played out on 5 min so I took 60 pips on that trade. I did not want to wait for it to retrace and keep going. Most likely it will continue down for quite a while. If it comes back there might be a re entry opp
  • #270
  • Oct 1, 2008 7:37pm Oct 1, 2008 7:37pm
This is what it looked like. I exited only a couple of pips from the bottom. Like i said i didnt want to wait for the retrace.

Take care'
Piitb
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  • #271
  • Oct 2, 2008 12:19pm Oct 2, 2008 12:19pm
It happens a lot. the markets take a different direction at 12 noon. Here is my trade. Standard.

Take it easy. Got in with an original 20 pip stop. When price moved 15 i moved to break even, then let it go a little. I got cold feet and got out with 23 pips.

Looks like it was good intuition too cause price just shot up 20 pips!!!!!!
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  • #272
  • Oct 6, 2008 4:38pm Oct 6, 2008 4:38pm
OMFG. LOL this is it. But wait, IT IS EXACTLY THE SAME AS ALWAYS!!!

This trade got me 84 pips with a 15 pip trailing stop loss

Enjoy.

Ps if anyone has any questions please ask.
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  • #273
  • Oct 6, 2008 6:31pm Oct 6, 2008 6:31pm
There is just a lot less confluence on this one. It did double top and the same Fibs. Problem is it is below the 50 sma now and over sold on stoch 15. It did bounce but be careful
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  • #274
  • Oct 7, 2008 2:28pm Oct 7, 2008 2:28pm
If your scalping through a market maker your not really scalping. This might have been covered already. Scalping in it's truest form is capturing the difference between the bid/ask spread. You buy at the bid and sell at the ask or vice versa, or catch a small move, and maybe once in a while you hold your winners for a little while.

Paying a spread through the market maker is account suicide when scalping.
FX Specialist
  • #275
  • Oct 7, 2008 4:40pm Oct 7, 2008 4:40pm
Quoting mabenn
If your scalping through a market maker your not really scalping. This might have been covered already. Scalping in it's truest form is capturing the difference between the bid/ask spread. You buy at the bid and sell at the ask or vice versa, or catch a small move, and maybe once in a while you hold your winners for a little while.

Paying a spread through the market maker is account suicide when scalping.

Lol. You are absolutely right. I trade with http://www.dukascopy.com
Check them out. Best I have seen anywhere. There are a clearing house.

Dont be this guy! This is trading with Market maker instead of clearing house.

To be clear a market maker ALWAYS places hedged positions against your open positions in order to lock in spread henceforth locking in profit for them. Clearing houses clear trades through multiple banking entities in order to bring you best price.
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  • #276
  • Oct 7, 2008 4:57pm Oct 7, 2008 4:57pm
Quoting Piitb
Lol. You are absolutely right. I trade with http://www.dukascopy.com
Check them out. Best I have seen anywhere. There are a clearing house.

Dont be this guy! This is trading with Market maker instead of clearing house.

To be clear a market maker ALWAYS places hedged positions against your open positions in order to lock in spread henceforth locking in profit for them. Clearing houses clear trades through multiple banking entities in order to bring you best price.

A friend of mine knew the guy who took that pic and it was actually a Dolphin! Haha. But I get your point.

At first glance Dukascopy seemed very solid, but when I downloaded their demo account their inside volume was horrible on the bid/ask. How have you found it trading live? What kind of size are you throwing around on their platform?
FX Specialist
  • #277
  • Oct 7, 2008 8:46pm Oct 7, 2008 8:46pm
Quoting mabenn
A friend of mine knew the guy who took that pic and it was actually a Dolphin! Haha. But I get your point.

At first glance Dukascopy seemed very solid, but when I downloaded their demo account their inside volume was horrible on the bid/ask. How have you found it trading live? What kind of size are you throwing around on their platform?

I have some problems before asian session sometimes. And also on sunday when the market opens. But in most volume sessions I am pretty satisfied with it.

I was recently talking with someone who is programing a platform with Arbitrage available. I havent seen it work yet. I am not sure if that is what you are talking about?

Dukascopy is without a doubt the best I have been with so far. I have gone with MB and ACM and CMS and GFT. Their platform is very intuitive for me and execution is pretty fast. Recently I was trading on a custom Institutional platform and it was insanely fast but I still like the features of Dukas way better

This was the epic market fail today!!! Where were the bulls in market you ask? RIGHT HERE!
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  • #278
  • Oct 8, 2008 8:32am Oct 8, 2008 8:32am
So here is the thing. I live in the US and keep getting questions from people around town like, " so did you get killed this week in the market?" to which I respond. No . I am having the best month probably ever.

This market meltdown has been a dream for currencies. My mentor made over 400 pips this morning!!!! I have never seen anything like it

But it also leads me to a bit of an unsettling idea about the market that we trade. We trade in a derivatives market. This entire meltdown is triggered by derivatives getting way to inflated compared to other instruments in finance.
At some point leverage becomes an issue.

We get incredible leverage because large broker houses can get huge capital on credit. At what point do we start getting only 50-1 leverage. then 25-1. Then get all the way down to a retail equities margin of 4-1. sort of hard to make a living on 10cents a pip.

Are we somehow immune to this possibility? Will the interbank market globally continue to lend in a frozen US credit market. Do you think that the fed bailout will save us?
  • #279
  • Oct 8, 2008 3:48pm Oct 8, 2008 3:48pm
Here is a great setup. double bottom and stochs.

What do you think
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  • #280
  • Oct 8, 2008 4:05pm Oct 8, 2008 4:05pm
Wow I could have not been more wrong on that one. Break of the resistance spent 60+ pips short. On the other hand it might have been a good shorting location. I am more long leaning here because it has put in over 200 pips down. Looks like it should have some room to retrace here. Maybe price wanted the .764 retrace instead.
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