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  • #41
  • Feb 22, 2011 2:46am Feb 22, 2011 2:46am
How scalping? - Step 3

EURUSD, M1, 2011 February 22
EURUSD, M5, 2011 February 22

M1: Here you can go out at first but M5 could become strong enough. So one possibility could be trade the M5 further up and scalp the M1 for 3-5 pips intermediate down.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSD, M1, 2011 February 22, v2.jpg Size: 396 KB
Click to Enlarge Name: EURUSD, M5, 2011 February 22, v2.jpg Size: 387 KB
  • #42
  • Feb 22, 2011 2:52am Feb 22, 2011 2:52am
How scalping? - Step 4

EURUSD, M1, 2011 February 22

M1 pullback till the red EMA21 line, then Candle has forming a hammer and then the market prive is moving further up.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD, M1, 2011 February 22, v3.jpg Size: 414 KB
  • #43
  • Feb 22, 2011 2:59am Feb 22, 2011 2:59am
How scalping? - Step 5

EURUSD, M5, 2011 February 22

EMA55 & the middle line of Bollinger Band copud intersect. If so the market price could go then further up with a higher probability.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD, M5, 2011 February 22, v4.jpg Size: 419 KB
  • #44
  • Feb 22, 2011 3:01am Feb 22, 2011 3:01am
How scalping? - Step 6

Scalp long the bigger M5 trend if it would build up, ...and trade some M1 short here and there.
  • #45
  • Feb 22, 2011 3:05am Feb 22, 2011 3:05am
How scalping? - Step 7


EURUSD, M30, 2011 February 22

Switch at a higher time-frame now!

M30 has forming three indifferent candles. Market seems to be in a consolidation phase and the divergence gives a stronger argument for a forthcoming upward movement.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD, M30, 2011 February 22.jpg Size: 422 KB
  • #46
  • Feb 22, 2011 3:35am Feb 22, 2011 3:35am
Closed Trades this morning (GMT+1)
2011 February 22
Attached Image (click to enlarge)
Click to Enlarge Name: Closed Trades, 2011 February 22.jpg Size: 508 KB
  • #47
  • Feb 22, 2011 4:09am Feb 22, 2011 4:09am
Hello FXcube,

Thank you for sharing your knowledge and expertise

It has been interesting to follow the your development from thread to thread. You started out with only four EMAs, and over time the systems have become more complex.

What I'd like to ask is which role the increasing number of indicators play in your decision process? Are they soft indicators, experimental, or are they crucial?

The reason I am asking is that most M1 traders I know use MAs only, maybe one divergence indicator, and maybe some bands to measure deviations.

As scalping is a gut feel game, one would have thought that too many indicators could take away from the direct perception of price action and possibly interfere with the decision process?

Thanks again
  • #48
  • Edited 6:12am Feb 22, 2011 5:55am | Edited 6:12am
Quoting medici
Hello FXcube,

Thank you for sharing your knowledge and expertise

It has been interesting to follow the your development from thread to thread. You started out with only four EMAs, and over time the systems have become more complex.

What I'd like to ask is which role the increasing number of indicators play in your decision process? Are they soft indicators, experimental, or are they crucial?

The reason I am asking is that most M1 traders I know use MAs only, maybe one divergence indicator, and maybe some bands to measure deviations.

As...
Hi medici

Indicators are more soft indicators.
The crucical aspect seems for me the multiple time frame analyse. This topic could give me some orientation in the described way in the examples above. Each indicator could give some arguments and will become more powerful the more the merrier.


Every single one of these aspects follows should be commonly known.

http://forex-strategies-revealed.com/scalping-systems

in particular:

  1. Scalping ideas (ADX and Bollinger bands)
  2. Scalping system #4 (5 pips with GBP/USD)
  3. Scalping system #5 (Tops & Bottoms)
  4. Scalping system #6 (EMA Bands)
  5. Scalping system #7 (Great GBP/JPY 1M scalping strategy)
  6. Scalping system #8 (1 minute Scalping with Pivot Points)
  7. Scalping system #11 (The Center of Gravity)
  8. Scalping system #12 (Three EMA's scalping)
  9. Scalping system #14 (EURUSD scalping with Bollinger Bands)
  10. Scalping system #14-a (Bollinger Bands + RSI in a range)
  11. Scalping system #16 (Sidekick system)


Kindest regards
FXcube

  • #49
  • Feb 22, 2011 5:57am Feb 22, 2011 5:57am
Quoting Forexcube
Hi medici

Before we discuss this interesting topic in detail I'd ask you: Have you read this link?
http://forex-strategies-revealed.com/scalping-systems (in particular: the first, #5, #6, #8, #12, #14, #14A).

Kindest regards
FXcube
Oh, yes, I am familiar with the systems and the use of the indicators. That was not my point. It was more a question of how, for your personally, integrating a growing number of indicators fits with perception and gut instinct?
  • #50
  • Edited 5:24pm Feb 22, 2011 6:17am | Edited 5:24pm
Scalping with Multiple Time Frame Analyse (MTFA)

How scalping - Step 1

EURJPY, M5, 2011 February 22

Pivotal Point mR1 is reached, M5 is forming a divergence, all indicators are standing at a high level. Here we have a cluster of powerful arguments, okay only at M5 but, it's a cluster.

CCI(20) has forming a divergence. MACD & ADX is at its Top Level.

If the shooting star won't be broken it could give better probabilities for a turn round. If so enter short.
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY, M5, 2011 February 22, v1.jpg Size: 464 KB
  • #51
  • Edited 5:25pm Feb 22, 2011 6:24am | Edited 5:25pm
Scalping with Multiple Time Frame Analyse (MTFA)

How scalping - Step 2

Search "tbc-aspects" (to be confirmed)

Now we should ask us if there might be multi-level aspects, say can we work out at more arguments at different time-frames? ...and/or have to wait the "*tbc's" at different time-frames (e.g. M15/M30)

It is vital to confirm!

...or go in and wait for confimation, otherwise exit or hedge this position!


Let me describe one example e.g. H1
H1: The pivotal at DPV 113.79 isn't reached. Could be that we could see this today, that's why (-) and the CCI(14) is high but not really at it's top, so (+/-), MACD is in basement, as a result (-) & ADX is high but not at it's top level, hence (+/-).
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURJPY, M30, 2011 February 22, v1.jpg Size: 418 KB
Click to Enlarge Name: EURJPY, H1, 2011 February 22, v1.jpg Size: 464 KB
Click to Enlarge Name: EURJPY, H4, 2011 February 22, v1.jpg Size: 448 KB
  • #52
  • Feb 22, 2011 6:31am Feb 22, 2011 6:31am
another good method...
thanks
  • #53
  • Feb 22, 2011 6:33am Feb 22, 2011 6:33am
Quoting zeCarvalho
another good method...
thanks

Cordial thanks!

FXcube
  • #54
  • Edited 4:10pm Feb 22, 2011 6:42am | Edited 4:10pm
Scalping with Multiple Time Frame Analyse (MTFA)

How scalping - Step 3

EURJPY, M1, 2011 February 22

Now DPV 113.79 is reached.

It's important to incorporate the pivotal points in your trading decisions. The pivot points are actually levels of strong support and resistance that are used by the commercial traders. (Later included: see #75, please and take a look at the following price movement #74).

So you could go in short for some pips, now and then switch at M5 and M15 and look how it will develop.
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY, M1, 2011 February 22, v2.jpg Size: 461 KB
  • #55
  • Edited 7:16am Feb 22, 2011 6:45am | Edited 7:16am
Scalping with Multiple Time Frame Analyse (MTFA)

How scalping - Step 4

Comparison Work!

Look at neighboring currency pairs like EURUSD, EURJPY, USDCHF, USDJPY, GBPJPY.

I take a look at EURUSD, M1/M5 at first now. What's going here on now?

Great design, so go in with some shorts at M1 for 3-5, may be 10 pips.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSD, M5, 2011 February 22.jpg Size: 371 KB
Click to Enlarge Name: EURUSD, M1, 2011 February 22.jpg Size: 418 KB
  • #56
  • Edited 3:03pm Feb 22, 2011 6:52am | Edited 3:03pm
Scalping with Multiple Time Frame Analyse (MTFA)

How scalping - Step 5

So you have to trade quick, focused, disciplined & effective.

It's like a cricket match.
Attached Image (click to enlarge)
Click to Enlarge Name: cricket events.jpg Size: 922 KB
  • #57
  • Feb 22, 2011 7:00am Feb 22, 2011 7:00am
Quoting medici
Oh, yes, I am familiar with the systems and the use of the indicators. That was not my point. It was more a question of how, for your personally, integrating a growing number of indicators fits with perception and gut instinct?

Hi medici

Sorry medici!

Many apologies!

Have make some examples beginnning at #50 et seq.

Best regards
FXcube
  • #58
  • Edited 4:18pm Feb 22, 2011 7:07am | Edited 4:18pm
Scalping with Multiple Time Frame Analyse (MTFA)

How scalping - Step 6

I go on with the analyse so long as I trade the market.

I also take a look at a higher time frame now, e.g. M15

EURJPY, M15 has been choosen.

All looks well so might be a good chance for a down and so may be at EURUSD, too. Go there and analyse this again, M1,..., M5,...M15 and so on, and so on...

...and will focus the M1 for the next market entry.
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY, M15, 2011 February 22.jpg Size: 442 KB
  • #59
  • Feb 22, 2011 10:56am Feb 22, 2011 10:56am
Quoting Forexcube
Hi medici

Sorry medici!

Many apologies!

Have make some examples beginnning at #50 et seq.

Best regards
FXcube
Perhaps I am the one who should apologise for being unclear. I didn't ask for 'how to'. In fact, I use a similar MTF approach myself but with less indicators. One could even take the trades suggested based on slopes and distances between MAs only. So the question was of what value are the three indicators to you as opposed to only one or perhaps none? Are more indicators necessarily better? I hope that question makes sense.
  • #60
  • Feb 22, 2011 2:21pm Feb 22, 2011 2:21pm
Quoting medici
Perhaps I am the one who should apologise for being unclear. I didn't ask for 'how to'. In fact, I use a similar MTF approach myself but with less indicators. One could even take the trades suggested based on slopes and distances between MAs only. So the question was of what value are the three indicators to you as opposed to only one or perhaps none? Are more indicators necessarily better? I hope that question makes sense.
Hi medici

Now I've well understand your question! One indicator (e.g. 2 MA's, plus the pivotals) could be perfectly good. I agree. More indicators "break troops". Yes indeed! I'm going to do it anyway! If I try to pen up more indicators in a "pool" it could generated more arguments optically and effective in a short time. I'm more a visual trader when I monitor the market movements and it needs for me no additional alertness. Might be that there are one psychological aspect more, I feel more confident by generating fast entry and exit decisions demanded from scalping.

I hope I could answer more in detail now.

Kindest regards
FXcube
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