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  • #110,621
  • Jun 15, 2009 2:43pm Jun 15, 2009 2:43pm
Quoting kuzey
hi all
dont you expect eu to retrace???
i took long
While it doesn't get below 1.3774 there's a few things going for it.
  • #110,622
  • Jun 15, 2009 2:45pm Jun 15, 2009 2:45pm
TU, I dont pay attention to news. I only look at support and resistance levels. And I don't trade the news either. I use the news as a trigger. So, if I see price stalling at a critical level after news time I take my aim. I never risk more then 30 pips as SL. This way i gain 100pips for a risk of 30pips. Risk to reward is much higher. In scalping you have to use very tight stop loss's and chances of getting the SL hit is much much higher then in swing trading. Now if you entered a market three times a day with 5 pips sl and a gain of 20pips you have to enter 5 time to get to 100pips. So you are exposing yourself 5times. Even if you win 3times u will end up having 60pips and if loose you are going to loose 15pips + spread and so on. You are only gaining 45pips + fear and emotions. I am not here to argue or fight or take sides I am just advicing to new trades think twice before scalping as it is not for everyone.
  • #110,623
  • Jun 15, 2009 2:48pm Jun 15, 2009 2:48pm
Quoting notch
Nah...I rarely made it to the beach to be honest. On the town at 7pm and back to the hotel at 10am...
Well thats my mission for the week

Tucked away behind some rocks somewhere no doubt, like the other 1.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #110,624
  • Jun 15, 2009 2:50pm Jun 15, 2009 2:50pm
Quoting Atlast
While it doesn't get below 1.3774 there's a few things going for it.
i decide to go long after big flat and im green for now at least 38.2% should come
  • #110,625
  • Jun 15, 2009 2:51pm Jun 15, 2009 2:51pm
Quoting vinesh2
TU, I dont pay attention to news. I only look at support and resistance levels. And I don't trade the news either. I use the news as a trigger. So, if I see price stalling at a critical level after news time I take my aim. I never risk more then 30 pips as SL. This way i gain 100pips for a risk of 30pips. Risk to reward is much higher. In scalping you have to use very tight stop loss's and chances of getting the SL hit is much much higher then in swing trading. Now if you entered a market three times a day with 5 pips sl and a gain of 20pips you...
Vin, your a unique trader then, most 30SL users aren't gunning for 100-200pips of profit.

How often do your 30SL's get hit though ??

I would like to see your account statement!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #110,626
  • Jun 15, 2009 2:53pm Jun 15, 2009 2:53pm
Quoting vinesh2
In scalping you have to use very tight stop loss's and chances of getting the SL hit is much much higher then in swing trading. You are only gaining 45pips + fear and emotions. I am not here to argue or fight or take sides I am just advicing to new trades think twice before scalping as it is not for everyone.
New traders should think that if they make 45 pips on a daily basis that translates to 880 pips/month. Not to be sneezed at, and you get a good night's sleep after the rigours of the day.
  • #110,627
  • Jun 15, 2009 2:55pm Jun 15, 2009 2:55pm
Vinesh,

The easiest conclusion I can draw from your posts re: scalping is that you really don't know diddly about it.

Good luck doing what you do though.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #110,628
  • Jun 15, 2009 2:58pm Jun 15, 2009 2:58pm
The trade I put in on Fri had a 30 pip SL above a critical support level it never made it there. My trade last only 2-3days. I gain more pips in two days then a scalp would take 4-5days. i usually start taking profits at critical supp and reisis level so that I dont worry about looking at trades every two seconds of the day. I am not here to prove anything just giving my opinions and analysis.
  • #110,629
  • Jun 15, 2009 2:59pm Jun 15, 2009 2:59pm
Quoting gatorinla
2928 is critical now... below it is a nice valley of 100 pips... let see if it bounces.. if not 3931 then 2793/2802 area.........
Gator, I have not read any posts past this one. I was out all day today and my TP finally got hit. Nice to close green swing trades.

Unless you posted something further, could you clarify your numbers here? I'm no longer in a position and the pair has reach my long term number. Now I have to review and reanalize my next swing trade. Did you intend to write 1.2793/1.2802? Are you talking another 1k pips down?

Please post here or PM me. Thanx.
Si vis pacem, para bellum.
  • #110,630
  • Jun 15, 2009 3:01pm Jun 15, 2009 3:01pm
4H reversal candle close near the 200EMA + Fib (61.8 of 1.2885 - 1.4331)
  • #110,631
  • Jun 15, 2009 3:02pm Jun 15, 2009 3:02pm
Quoting gatorinla
duce 3831 looking better all the time..
Take 'em when you can. Thanx.
Si vis pacem, para bellum.
  • #110,632
  • Jun 15, 2009 3:02pm Jun 15, 2009 3:02pm
i donno if i am a scalper or not but my tendency is to take money from the table when ever u see it....normally i dont let my trade run for long even if i know they are on winning side.

do i need some change in my opinion?
  • #110,633
  • Jun 15, 2009 3:02pm Jun 15, 2009 3:02pm
Quoting vinesh2
The trade I put in on Fri had a 30 pip SL above a critical support level it never made it there. My trade last only 2-3days. I gain more pips in two days then a scalp would take 4-5days. i usually start taking profits at critical supp and reisis level so that I dont worry about looking at trades every two seconds of the day. I am not here to prove anything just giving my opinions and analysis.

Maybe you CAN do that, I and others can't it does't suite us mentally, so great for you if your making good profits this way, but sadly it will never ever be any use to me or 99% of other traders on here.

You stop was just over the High of the Day, you got lucky nothing more unless your doing that ALL THE TIME!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #110,634
  • Jun 15, 2009 3:04pm Jun 15, 2009 3:04pm
Ask gatorinla what kind of a trader he is. I see on the forum he is one of the respected traders.
  • #110,635
  • Jun 15, 2009 3:12pm Jun 15, 2009 3:12pm
I am so frustrated today.

Woke up early to see tha japs have taken the price down by 70 or so. Took a short trade, went to bed, 45 minutes later I was marginally in profit - 0.5%. It was Power Hour so I decided to call the trade off. Went back to bed, woke p at London opening. 100 pts and counting... Took another trade to 2.5% and called off at about 140 pts (daily avg). The PA dived for 200. By noon the price seemed to go sidways so went into another short for 3.5%. Then I decided to call the day off cause I didn't want to piss in the wind (I was thinking north by that time). Of course several hours later PA took a nose dive to 300+ pts for the day. Goddam it!
  • #110,636
  • Jun 15, 2009 3:16pm Jun 15, 2009 3:16pm
Wonder how many hours of sleep does a scalpers get and how much sleep lack of sleep effects their trading analysis
  • #110,637
  • Jun 15, 2009 3:17pm Jun 15, 2009 3:17pm
Quoting vinesh2
The trade I put in on Fri had a 30 pip SL above a critical support level it never made it there. My trade last only 2-3days. I gain more pips in two days then a scalp would take 4-5days. i usually start taking profits at critical supp and reisis level so that I dont worry about looking at trades every two seconds of the day. I am not here to prove anything just giving my opinions and analysis.
Not taking anything away from you, in fact your style is to be commended, but you did diss the scalping initially. You said "but look at what price I entered I lapped up over 200 pips in 2 days". hey, don't mean to boast, but you started that trade on friday and sat through the weekend on it (again not criticising), and on that one day alone I scalped that number of pips. So, it's not the scalping vs trend trading/swing trading, long term, whatever, it's the mindset and the discipline. They all work in the right hands.
  • #110,638
  • Jun 15, 2009 3:17pm Jun 15, 2009 3:17pm
Quoting Alihuzaifa
i donno if i am a scalper or not but my tendency is to take money from the table when ever u see it....normally i dont let my trade run for long even if i know they are on winning side.

do i need some change in my opinion?
Not necessarily. If you scalp, you need to watch your monitor more closely and intently. If you swing trade, you have a long term plan and possilby, like me, no time to sit in front of a monitor for 8 hours (at least) a day. I like doing both, but have been finding less and less time to scalp. You can't scalp part time. You can swing part time (there's got to be a joke in there somewhere ).
Si vis pacem, para bellum.
  • #110,639
  • Edited 3:20pm Jun 15, 2009 3:18pm | Edited 3:20pm
Quoting Alihuzaifa
do any one have any indicator to show daily high and low,if yes please post it.

thanx in advance
Here's is one that does what i think you're asking....
You'd need to go into the inputs tab and set it accordingly.
Daily Pivots, Highs and Lows plus the day's open.
The sweet spots are lines in multiples of 50.
You need both files I hasten to add...in the indicators folder of your MT4, assuming you're using MT4.
haven't tried it on any other platform

Hope it helps
Attached File(s)
File Type: mq4 SDX-TzPivots.mq4   17 KB | 251 downloads
File Type: ex4 SDX-TzPivots.ex4   15 KB | 213 downloads
  • #110,640
  • Jun 15, 2009 3:18pm Jun 15, 2009 3:18pm
Quoting vinesh2
Wonder how many hours of sleep does a scalpers get and how much sleep lack of sleep effects their trading analysis
I would disagree here. A scalper doesn't need to wait for the right setup to take a trade day or night. A scalper gets his trades done quick and calls it off for the day. So many times I woke up in the morning only to find out that I was 1-2 hrs late for a day trade entry...
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