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  • #136,421
  • Aug 28, 2009 10:12am Aug 28, 2009 10:12am
Looking at resistance around 1.4350, normally I would short it if it goes back to that area and stalls, however today is Friday 1;15 PM, Everyone in NY and London are done trading, I think I will call it a day.
  • #136,422
  • Aug 28, 2009 10:15am Aug 28, 2009 10:15am
Chart Attached.

52 on Monday.

Mike
Attached Image (click to enlarge)
Click to Enlarge Name: MondayAugust24.PNG Size: 48 KB
  • #136,423
  • Aug 28, 2009 10:16am Aug 28, 2009 10:16am
Quoting Larseg
Nice results mike
Mike
  • #136,424
  • Aug 28, 2009 10:17am Aug 28, 2009 10:17am
Quoting operigote
Looking at resistance around 1.4350, normally I would short it if it goes back to that area and stalls, however today is Friday 1;15 PM, Everyone in NY and London are done trading, I think I will call it a day.
Razor thin volume... but if she climbs near .4400 I'm selling... especially if it's near 3:00pm.

m
  • #136,425
  • Aug 28, 2009 10:20am Aug 28, 2009 10:20am
*burp*
those who can, do. those who cant, talk about those who can
  • #136,426
  • Aug 28, 2009 10:21am Aug 28, 2009 10:21am
Quoting plan-b
I would not know since i don't scalp, but so far no one has taken up his challenge
Give him my name. (I'm Mike)

Let's put this 'scalping' thing to rest in a public forum.

I'll post my trades every day for as long as he/she wants... on the condition he/she does the same.

m
  • #136,427
  • Aug 28, 2009 10:24am Aug 28, 2009 10:24am
Quoting Larseg
Nice results mike
Yes nice result , no matter how many pips you collected Mike but when doing so consistently matters a lot. great job. and we do not want any to prove to anybody ever but like to share & help each other & continuous learning .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #136,428
  • Aug 28, 2009 10:25am Aug 28, 2009 10:25am
Quoting trading801
out for now.. bye to all of my buddies
It's a good time to call it quits.

Mike
  • #136,429
  • Aug 28, 2009 10:25am Aug 28, 2009 10:25am
Quoting acumen
Razor thin volume... but if she climbs near .4400 I'm selling... especially if it's near 3:00pm.

m
I would probably do that as well, if it develops, although it is unlikely; but we know when we get those unlikely scenarios there is ususally where the best opportunities lye.
  • #136,430
  • Aug 28, 2009 10:26am Aug 28, 2009 10:26am
Quoting gatorinla
*burp*
You are excused.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #136,431
  • Aug 28, 2009 10:29am Aug 28, 2009 10:29am
Quoting fontu
Yes nice result , no matter how many pips you collected Mike but wen doing so consistently matters a lot. great job. and we do not want any to prove to anybody ever but like to share & help each other though contiuous learning .
fontu
How many days or months does 'consistently' define.

I agree... I win small... but win most of the time with little draw down.

I didn't start this... but I sure am tired hearing how scalping can't be done successfully.

Mike
  • #136,432
  • Aug 28, 2009 10:31am Aug 28, 2009 10:31am
Quoting acumen
I post my charts day in and day out.

I scalp, work for several hedge funds and have been trading my own capital for years.

Does the chart below count as scalping?

If the answer is yes... I'll start posting my charts everyday if he does the same.

I'm up for a good game...be warned... in the last four months I've had 4 losing days.

Want to play?

The chart below is yesterdays trades.

If you want to count... that's 121 PIPS.

I'll post today's trades in a minute.

Mike
awsome

do you scalp using pivots and round numbers only?
  • #136,433
  • Aug 28, 2009 10:43am Aug 28, 2009 10:43am
Quoting Jack Herer
awsome

do you scalp using pivots and round numbers only?
I'll take some based on PA but yes... 90% of my trades are off pivots and psych levels.

Mike
  • #136,434
  • Aug 28, 2009 10:45am Aug 28, 2009 10:45am
Down today. 1 winner, 2 loosers. Not a disaster though, part of the game.

I think it is too late to get involved with another trade. (Friday)
Good Trading. (keep it simple).
  • #136,435
  • Aug 28, 2009 10:46am Aug 28, 2009 10:46am
Me too, done for the week. Euro was a bit anticlimatic, but it was nice ranging earlier and many of us ripped it off pretty well, myself included. Good job to everyone, trading isn't easy.

Current Positions:

Euro/Usd, none, to clusterf'd, easier to rip it off at the right times.

USD/Chf, long looking for 100 pips.

USD/JPY, long looking for 50 pips.

Eur/Chf, long for 50 pips.

Did well this week, not saying how much because I will be told to revise my RR. But when I lose I say so, and when I win I do the same.

One big losing trade was on tuesday I think, Euro/Usd -43 pips, tried to sell one of those climbing nobby channels too soon-will get you every time.

Have a good weekend everyone. Peace.
  • #136,436
  • Aug 28, 2009 10:47am Aug 28, 2009 10:47am
Quoting acumen
I'm quite fearful of Fridays.
Fear is good.... have a good weekend mike.
FUBAR...
  • #136,437
  • Aug 28, 2009 10:47am Aug 28, 2009 10:47am
Quoting gatorinla
i got 3 ph... based on last move..5m 4317 15m 4318 60m 4475... im bearish but the 5 and 15 have been hit almost always.. the good news is the 15 usaully becomes s/r and we do over shoot it some.. so ill set short entrys at 4322 39 49 64 75.. i post what chart tells me without bias.. the 15 yesterday was 4216... see it held at second attack..
i said ealier i did a predictive on this move. the 5m and 15 usually are pretty acurate.. but yesterdays move was freakish and i doubt many people here would of thought it would not continue with gusto. i posted a 60 and 4hr much higher then we have gone..so far they are wrong.. when in a range thats expected. because those numbers are out of the range. but the 5m and 15 work well.. but as said yesterdays move was freaky... and yet the 15 area became s/r.. you be the judge todays daily pp 4323... anyway the same method says 5/15m pl is 4146/47 area.. i dont see how we get there today( but maybe monday). but i post what i got..its almost 200 pips away.. my chart dont care about tf.. it works on moves..like i said who would of thought this move would not go higher at that moment it was climbing? what it tells me is the wall up there is stronger then we think..on eu and oil.. time will tell.. good luck
those who can, do. those who cant, talk about those who can
  • #136,438
  • Aug 28, 2009 10:47am Aug 28, 2009 10:47am
Quoting acumen
Give him my name. (I'm Mike)

Let's put this 'scalping' thing to rest in a public forum.

I'll post my trades every day for as long as he/she wants... on the condition he/she does the same.

m
below is his exact words, the trader is wayne jackson, im sure you have come across him on FF

"Now tell me who the scalpers are that have show ANY evidence of their profitability, either by live trading on an open forum OR by trading with a group who see every trade and can measure the profitability of the scalper/trader.(such as my group or the James16 group)
In the three years I have been here, I haven't seen one.

As I said above, the short term scalpers come here and make a lot of aggressive noise because they have usually lost their day jobs and have just started trading to try to earn some money and are trying to tell you (and convince themselves) that they are successful.

I would welcome ANY scalper to start a live journal trading in real time here on FF and prove me wrong.

and he continues:

I will let you in on some good advice. I have a friend who used to be an Executive at one of the large brokerage houses for many years. He has managed large teams of brokers. He has seen the trading results of literally thousands of traders. If a trader was consistently profitable, his staff would get the results and reverse engineer them to see how it worked. That is how him and I met. He now works and trades with me.

He has NEVER seen a scalper last more than 12 months as a fulltime trader. So when I read all the loud and aggressive traders here talk about how they are scalping their way to riches, I just have a quiet laugh with my friend.
Some drink at the fountain of knowledge. Others just gargle !
  • #136,439
  • Aug 28, 2009 10:50am Aug 28, 2009 10:50am
Quoting ak4x
Fear is good.... have a good weekend mike.
Have a great weekend.

September is coming and hopefully this mess will clear up a bit.

I love the fall.

Mike
  • #136,440
  • Aug 28, 2009 10:52am Aug 28, 2009 10:52am
Quoting acumen
I'll take some based on PA but yes... 90% of my trades are off pivots and psych levels.

Mike
do you still trade that euro fractal strategy?

anyway, I have a 15M chart with that pivot point indicator of yours, very accurate, and what I found most interesting, if you take a look at the last 10~12 days, PA touched PP at least once over 80% of the time. Never seen it under 75% accuracy.

banked 30 pips today on the first touch of PP.

=D
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