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NITRO Scalping for serious traders

  • #241
  • Aug 31, 2009 4:47am Aug 31, 2009 4:47am
Probable trend inversion??

Watching the chart...today we could have a trend inversion...

there's a W pattern at the bottom of the trend...and a higher high...if the PA breaks the short trendline...the price can accelerate...

Just a possibility...technical analysis is not a perfect science..
Attached Image (click to enlarge)
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Market is like a puzzle, YOU have to fit the pieces!!
  • #242
  • Aug 31, 2009 6:31am Aug 31, 2009 6:31am
Here's the break of the trend line and of the resistence...and the price acceleration...
high probability trade...i was waiting...and i was there!!
Attached Image (click to enlarge)
Click to Enlarge Name: break.gif Size: 21 KB
Market is like a puzzle, YOU have to fit the pieces!!
  • #243
  • Aug 31, 2009 6:46am Aug 31, 2009 6:46am
Quoting Chris_B
Here's the break of the trend line and of the resistence...and the price acceleration...
high probability trade...i was waiting...and i was there!!

chris i think you are on to something here have tried the same since was mentioned and having great sucess as well lets keep up the good work and definitly keep this thread open
  • #244
  • Aug 31, 2009 7:03am Aug 31, 2009 7:03am
Quoting Chris_B
Here's the break of the trend line and of the resistence...and the price acceleration...
high probability trade...i was waiting...and i was there!!
Chris,

Nice trading.

Just curious about your spread on GJ? I think the spread I have is normally 8 pips. No way I could scalp that pair.

Keep up the good work.

Doc
  • #245
  • Aug 31, 2009 7:09am Aug 31, 2009 7:09am
Quoting DocPMD
Chris,

Nice trading.

Just curious about your spread on GJ? I think the spread I have is normally 8 pips. No way I could scalp that pair.

Keep up the good work.

Doc
at fx pro they have 4 pips on gj and 4 pips gets eaten pretty quick
  • #246
  • Aug 31, 2009 7:16am Aug 31, 2009 7:16am
Quoting DocPMD
Chris,

Nice trading.

Just curious about your spread on GJ? I think the spread I have is normally 8 pips. No way I could scalp that pair.

Keep up the good work.

Doc
FxPro...4 pips
Market is like a puzzle, YOU have to fit the pieces!!
  • #247
  • Aug 31, 2009 8:28am Aug 31, 2009 8:28am
Early bird catches the pips +7
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  • #248
  • Aug 31, 2009 8:55am Aug 31, 2009 8:55am
Quoting scartree
... could I strongly suggest that you jump on anything that is not welcome here. ...
I plan to have a very heavy hand, one warning (maybe not even depending on the post) & *poof* a disruptive poster will be gone.
I have a very extensive iggy list and apparently -- I didn't realize this at first -- when you start a thread people on your iggy list are automatically excluded. That has helped protect us so far.

29 votes to keep this thread so we will continue & keep our focus.

Prosperous Pipping to all!
******************* I'd rather make money than be right.
  • #249
  • Aug 31, 2009 8:56am Aug 31, 2009 8:56am
my trade for today

waited for correlation and boom

+5

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  • #250
  • Aug 31, 2009 8:57am Aug 31, 2009 8:57am
Arrived late to the trading desk this morning due to some other things going on .. looks like a spectacular down move on the yen crosses which I see several profited from. Now they are consolidating and I am waiting either a significant pullback or reversal of trend confirmation so I can pull the trigger too.

I love Correlation!
******************* I'd rather make money than be right.
  • #251
  • Aug 31, 2009 9:09am Aug 31, 2009 9:09am
Nothing so far, market is consolidating on most pairs... I expected a pullback of AUDJPY, but no
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  • #252
  • Aug 31, 2009 9:17am Aug 31, 2009 9:17am
Just to clarify what I mean by 'focus' in here.

I know that most of us are not against finding new & better ways to trade Nitro.. that would be absurd. What we want to avoid is people bringing in new and UNTESTED ideas or indys.

Anyone who has been trading Nitro for over 100 trades with a new indicator & seen better success, of course we want to know about it.
Ditto for anyone who has found a tried & tested way to take a bit more profit or tighten SL.

By 'focus' I mean focus on what works. That means either the original method, which we know works (just requires a lot of practice to learn) OR improvements to the method which have been thoroughly tested in a demo acccount with a printed track record of trades.

Since most of us started trading Nitro in early August, I would not expect any enhancements to the method to be offered before October, that is after at least 2 months of testing.

If you find something that makes this even better .. and can prove it .. by all means, let us know.

And Chris_B, keep working on that indy .. sooner or later you're going to nail it** & when that happens, please remember who your early friends were.

**farlo perfetto
******************* I'd rather make money than be right.
  • #253
  • Aug 31, 2009 9:29am Aug 31, 2009 9:29am
Quoting Chris_B
Here's the break of the trend line and of the resistence...and the price acceleration...
high probability trade...i was waiting...and i was there!!
Nice work Chris, i just observed that in your last few charts you are not doing NITRO as originally conceived but instead you are using support and resistance to trade as shown by ASDF. Nothing wrong with that though. Like the idea of using such basic technical analysis tools with renko bars. My question is this: As you take these trades are you still looking for correlation or you simply concentrate in an individual pair and trade it based on the breakout of support/resistance when the momentum takes off?

Thanks in advance for your response.


Regards
  • #254
  • Aug 31, 2009 9:41am Aug 31, 2009 9:41am
Quoting Analda3
Nice work Chris, i just observed that in your last few charts you are not doing NITRO as originally conceived but instead you are using support and resistance to trade as shown by ASDF. Nothing wrong with that though. Like the idea of using such basic technical analysis tools with renko bars. My question is this: As you take these trades are you still looking for correlation or you simply concentrate in an individual pair and trade it based on the breakout of support/resistance when the momentum takes off?

Thanks in advance for your response....
Hi...
to be honest...i'm just trying...but today the original Nitro way would have been much better than support & resistence...

I'm having the poorest, most indisciplinated and big losing day from when i started with Nitro...
I'm not focused on the method, i'm trying some other things and this is evolving in a big lose today...
And you know...when you lose you feel bad, you are less focused, you search for revenge..and you lose again...

At the same time i'm doing some trade with the old C4...and trying C4 also on the TOS platform...too musch confusion today in my mind..
Market is like a puzzle, YOU have to fit the pieces!!
  • #255
  • Aug 31, 2009 9:44am Aug 31, 2009 9:44am
Quoting 4xStar

And Chris_B, keep working on that indy .. sooner or later you're going to nail it** & when that happens, please remember who your early friends were.

**farlo perfetto
Ahahhahaha



so ... you're not interested about my results? (I'm tesing a new indi, with a custom created EA)

100 trades later, I'll be here.
  • #256
  • Edited 9:50am Aug 31, 2009 9:47am | Edited 9:50am
Quoting Chris_B
...

I'm having the poorest, most indisciplinated and big losing day from when i started with Nitro...
I'm not focused on the method, i'm trying some other things and this is evolving in a big lose today...
And you know...when you lose you feel bad, you are less focused, you search for revenge..and you lose again...

...
One thing I noticed today is that Price Action SUCKS! So part of it may be trying to "force" trades that you wouldn't normally take or trying something that you normally don't do. For myself, I usually don't trade the CADJPY and took 3 trades on it today with two losing. So often times sticking to what works and perfecting it is better than trying something new. An alternative is make your real trades on one account and have a second one for your experiments.

If you notice today the price is hovering around the whole numbers EJ ~133, GJ ~ 151, AJ ~78 CADJ ~84.
4XTrader2
  • #257
  • Aug 31, 2009 9:50am Aug 31, 2009 9:50am
Take a break Chris, The PA is crazy today.. remember it's a patience game

I've had 2 winnings on the asian open and that's enough for the day
  • #258
  • Aug 31, 2009 9:55am Aug 31, 2009 9:55am
analda
I had the same question a few posts ago, u may find it useful:
http://www.forexfactory.com/showthre...93#post2999593


Quoting Analda3
Nice work Chris, i just observed that in your last few charts you are not doing NITRO as originally conceived but instead you are using support and resistance to trade as shown by ASDF. Nothing wrong with that though. Like the idea of using such basic technical analysis tools with renko bars. My question is this: As you take these trades are you still looking for correlation or you simply concentrate in an individual pair and trade it based on the breakout of support/resistance when the momentum takes off?

Thanks in advance for your response....
  • #259
  • Aug 31, 2009 10:07am Aug 31, 2009 10:07am
Price action as a whole sucks today.
EJ provided good trades. I normally don't trade CADJPY but felt the pattern indicated an impending uptrend (highlighted rectangle). However it was delayed and cost me two losing trades. Am done for the day as Price is going nowhere right now.
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4XTrader2
  • #260
  • Aug 31, 2009 10:19am Aug 31, 2009 10:19am
Quoting GrZack
Ahahhahaha



so ... you're not interested about my results? (I'm tesing a new indi, with a custom created EA)

100 trades later, I'll be here.
I'm your friend too
******************* I'd rather make money than be right.
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