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NITRO Scalping for serious traders

  • #361
  • Sep 4, 2009 7:58am Sep 4, 2009 7:58am
Ok....back to Nitro...original plan...

The only difference is the brick size for me...

Watch my chart...it seems a surgical operation

I know...Nitro is with 10ticks per brick

But with 5ticks per brick it seems to be more accurate...and very similar to C4 (but with less noise).

In fact i was not searching for 2 brick reversals...but for larger movements...watching the Lwma (setted at 10) and watching PA moving... and all this just a couple of minutes after the news times

What do you think??
Attached Image (click to enlarge)
Click to Enlarge Name: 09042009c.gif Size: 37 KB
Market is like a puzzle, YOU have to fit the pieces!!
  • #362
  • Sep 4, 2009 8:24am Sep 4, 2009 8:24am
Here's an update...

I took a loss...I was right but now i like cut the losses when i feel something could go wrong... so took only -6

After a big short move...PA has reached a support...and then i was waiting for a reversal pattern in order to watch for longs...

You can see a W pattern bottom before the big LONG
You can see a 1-2-3 pattern bottom after the big SHORT

Who is saying that the technical analysis is useless for scalping???

Another interesting thing: when the SHORT is losing power...you can see the slopes on momentum reducing (they are less larger every time)...it's not law...is only an alert...

P.S. Is very difficult to see these formations with 10ticks bricks
Attached Image (click to enlarge)
Click to Enlarge Name: 09042009d.gif Size: 39 KB
Market is like a puzzle, YOU have to fit the pieces!!
  • #363
  • Sep 4, 2009 8:37am Sep 4, 2009 8:37am
There was a big acceleration today 40' after NY open, I took 2 trades: AY, 10 pips at the end of the trend (I know it's too risky but I had to take it, it was moving so fast).

The other one on EY after a reversal past the low line, I took 5 pips and left

Both happened in just seconds.

All the pairs were correlated.
Attached Image(s) (click to enlarge)
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  • #364
  • Sep 4, 2009 8:52am Sep 4, 2009 8:52am
Another little loss for -3
The trade reached +5 but my updatestop EA was too slow in closing order..

And then another +6
Attached Image (click to enlarge)
Click to Enlarge Name: 09042009e.gif Size: 41 KB
Market is like a puzzle, YOU have to fit the pieces!!
  • #365
  • Sep 4, 2009 9:53am Sep 4, 2009 9:53am
Quoting Chris_B
Another little loss for -3
The trade reached +5 but my updatestop EA was too slow in closing order..

And then another +6
Since your first post I put up 5 pip charts of GY and EY & I agree patterns are easier to see, and stops can be kept tighter. However I am not sure this is where people should start with renko .. a few weeks ago I also tried the 5 bar charts and got slaughtered
I still need to see the 'bigger picture' on the 10 bar especially double/triple tops or bottoms .. but then the 5 bar may be better to time entries and keep exits tighter. Will need to do more testing, but so far this morning, I am liking it.
******************* I'd rather make money than be right.
  • #366
  • Sep 4, 2009 10:00am Sep 4, 2009 10:00am
Quoting 4xStar
Since your first post I put up 5 pip charts of GY and EY & I agree patterns are easier to see, and stops can be kept tighter. However I am not sure this is where people should start with renko .. a few weeks ago I also tried the 5 bar charts and got slaughtered
I still need to see the 'bigger picture' on the 10 bar especially double/triple tops or bottoms .. but then the 5 bar may be better to time entries and keep exits tighter. Will need to do more testing, but so far this morning, I am liking it.
Yes...the difference between 10ticks and 5ticks bricks is that with 5ticks the strategy is more similar to C4...you search for movements a little bit larger...and stops can be smaller... the most important thing is that you wait for PA to move...just like in C4...
With 5ticks the Lwma is more reliable...you can wait a confirmed change of color as a primer...
I know that original Nitro is with 10ticks...but we unfortunately don't have the original Nitro TS setup...

Let's see next week if it does well.. good weekend.
Market is like a puzzle, YOU have to fit the pieces!!
  • #367
  • Sep 4, 2009 10:40am Sep 4, 2009 10:40am
Hi Chris.

Good concept. Have set up a couple of charts and will give it the once over over the weekend.

Thanks

Dave W
  • #368
  • Edited 11:19am Sep 4, 2009 11:08am | Edited 11:19am
chris how are you filtering out some of the bad trades? maybe im missing something...

http://www.forexfactory.com/attachme...2&d=1252072367
  • #369
  • Sep 4, 2009 12:45pm Sep 4, 2009 12:45pm
Quoting chad83
chris how are you filtering out some of the bad trades? maybe im missing something...

http://www.forexfactory.com/attachme...2&d=1252072367
Hi Chad!

As all scalping strategies the only way to be proficient is to understand and watch how the PA is moving...you will never find a scalping strategy with rules setted in stone...

The basics of Nitro are in the PA...the Lwma give us an alert...it's telling "ehy...maybe the price is moving"...most of the time...if the price starts to move fast...it's a good trade (not always).
When the price is slow and esitates...most of the times is a bad trade (not always).

Only spending some time watching the chart during the prime time can give you a good "feel" of this.

Anyway...watching the chart...a big UP move started..so i took 2 longs on the retracements...then i took a short and a long because the slope of the peaks at the top was good...then i watched only for shorts after the triple top...and then at the bottom i've watched for some long (the most trouble of the day).

As you can see i took also some bad signal...but with that "feel" often you can understand when the PA is not doing what you want...so you can exit with small losses.. I prefer take some more -6 and some less -30...

In the image you attached some trades are not plotted correctly because i had to restart my MT4...
Market is like a puzzle, YOU have to fit the pieces!!
  • #370
  • Sep 4, 2009 2:29pm Sep 4, 2009 2:29pm
Quoting Chris_B
Ok....back to Nitro...original plan...

The only difference is the brick size for me...

Watch my chart...it seems a surgical operation

I know...Nitro is with 10ticks per brick

But with 5ticks per brick it seems to be more accurate...and very similar to C4 (but with less noise).

In fact i was not searching for 2 brick reversals...but for larger movements...watching the Lwma (setted at 10) and watching PA moving... and all this just a couple of minutes after the news times

What do you think??
Chris,

Your chart is an excellent example of how using price action alone is much more efficient and risk averse than using indicators. I provided a step-by-step analysis of how price actions plays out in real time. It may be helpful to print it, cover it with another piece of paper, and the read the commentary from left to right, as if you were watching the market. At each key area, you may want to ask, did the indicators help clarify what price action was saying? Did the indicators distract from what price action was saying? Also, have you noticed that all three of your indicators signal at the same renko bar -- the third bar after a reversal (maybe that was intentional). Does the potential for distraction outweigh the knowledge that seeing a third renko bar print after a reversal provides the same information? Or can you see it more clearly with price action alone? Hope it helps.

asdf

(As for the negative comments, there is nothing I can say that will deter them. Their minds are made up. So I will just wait for Twee to resolve it.

One way to avoid deception is to question teachings that run contrary to generally accepted principles of an industry. Those who read these things, I hope you question what I write. Don't take my word for them, look around this forum, there are some very wise traders. One of the best is BillyRayValentine's "No Brainer Trades." It is filled with great info and free resources. There is a .pdf file called "BRV S+R Trading" at the bottom of the first post, with sections by BillyRayValentine and Iron-man, both of whom have 10+ vouches. Hopefully you see that the things I've shared are not unique and can benefit traders of all kinds, including scalpers.)
Attached Image (click to enlarge)
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  • #371
  • Sep 4, 2009 2:53pm Sep 4, 2009 2:53pm
Quoting asdf
Chris,

Your chart is an excellent example of how using price action alone is much more efficient and risk averse than using indicators. I provided a step-by-step analysis of how price actions plays out in real time. It may be helpful to print it, cover it with another piece of paper, and the read the commentary from left to right, as if you were watching the market. At each key area, you may want to ask, did the indicators help clarify what price action was saying? Did the indicators distract from what price action was saying? Also, have you noticed...
Thank you asdf,
That is really comprehensive analysis.
I am so pleased to see that paradoxical has not driven you away.

You do not appear to be Keith Brown so far as I can see, but I will wait for Twee's verdict on that score.

Ian
  • #372
  • Sep 4, 2009 4:32pm Sep 4, 2009 4:32pm
asdf,

Thanks for the incredible chart. I will be hanging that one on the wall.

Mike
  • #373
  • Sep 4, 2009 6:59pm Sep 4, 2009 6:59pm
asdf,
there's such a wealth of information in your last post!

Thanks a lot!!
  • #374
  • Sep 5, 2009 12:07am Sep 5, 2009 12:07am
Quoting mikepip
asdf,

Thanks for the incredible chart. I will be hanging that one on the wall.

Mike
Me too, blown up and on the office wall! Extremely helpful analysis, thanks so much.
******************* I'd rather make money than be right.
  • #375
  • Sep 5, 2009 12:29am Sep 5, 2009 12:29am
Quoting 4xStar
Me too, blown up and on the office wall! Extremely helpful analysis, thanks so much.
love the analysis...keep them coming!
Q
The Only Constant Is Change!
  • #376
  • Sep 5, 2009 1:37am Sep 5, 2009 1:37am
ok guys ,beatiful work,someone of us can post indicators with templates ,thanks
  • #377
  • Sep 5, 2009 5:40am Sep 5, 2009 5:40am
Quoting alexander
ok guys ,beatiful work,someone of us can post indicators with templates ,thanks
Please read this thread:

http://www.forexfactory.com/showthre...81900&page=150

you'll find everything there, which are free.

take care,

grzack
  • #378
  • Sep 5, 2009 6:49am Sep 5, 2009 6:49am
Hey scammer!!

Why don't you tell us what the weather looks like there on the Cayman Islands? Or wait... I mean Las Vegas.

I'm watching you mr. Keith Brown!

And why don't you tell us, what happened to the money you STOLE from the investors????

We all know you are using a proxy IP address, but we'll get you!!

Anyone defending this guy is a brainless and ignorant person.

Quoting asdf
Chris,

Your chart is an excellent example of how using price action alone is much more efficient and risk averse than using indicators....
  • #379
  • Sep 5, 2009 7:55am Sep 5, 2009 7:55am
Thanks Artov - you and your loser mates have wrecked another one for me. I will look elsewhere for my learning. I am out of here. What a crummy bunch of people not prepared to take responsibility for their own stupid mistakes. I am sorry for you all.
To those genuine people who have given so much in these last few weeks, I am grateful and I am sorry to leave you, but I have had a gutful of these selfish people who care nothing for others than themselves. They just make me bloody mad and that is an emotion I am not very fond of.
Hooroo!!
  • #380
  • Sep 5, 2009 8:36am Sep 5, 2009 8:36am
The whiner has been banned from this thread .. don't throw the baby out with the bathwater, scartree. All whiners will be banned from this thread .. and I need to figure out how to delete their posts if that is possible.
Stick around, soon it will be just us, the whiners will find somewhere else to whine & complain about their fate in life.

EDIT: Looks like I can't delete posts, but soon it will be buried, everyone just please make liberal use of your iggy buttons.
We are moving in a very positive .. and lucrative... direction here thanks to combined efforts of a number of dedicated traders. In the end we are here to trade and make money doing it .. that's it. Please just ignore everything that does not directly contribute to that goal.

Quoting scartree
Thanks Artov - you and your loser mates have wrecked another one for me. I will look elsewhere for my learning. I am out of here. What a crummy bunch of people not prepared to take responsibility for their own stupid mistakes. I am sorry for you all.
To those genuine people who have given so much in these last few weeks, I am grateful and I am sorry to leave you, but I have had a gutful of these selfish people who care nothing for others than themselves. They just make me bloody mad and that is an emotion I am not very fond of.
Hooroo!!
******************* I'd rather make money than be right.
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