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  • #425,741
  • Apr 20, 2011 3:37pm Apr 20, 2011 3:37pm
Quoting mab41487
Thanks, now, when your scalping do you do so only in the direction of the MAJOR trend or do you go counter as well.

And are there better times during the day to be scalping because of the volume you can assume there is more or less movement based on certain times of the day
scalping is restricted to times where there is (short term) no trend.
If PA is trending keep out of scalps.
So mostly the quiet times are ideal for scalping.
I use crude charting and have developed some kind of feeling you get when watching prices for a long time. Hardest is to keep your profits restricted to the levels you are playing with. Do not change them during play....
Don't be a hero. Don't have an ego. Always question yourself
  • #425,742
  • Apr 20, 2011 3:39pm Apr 20, 2011 3:39pm
Quoting Mr Hatch
what's above the chart atm? I will tp at 4567.7 and go on easter holiday with a fraction of a runner left. as I said, I'm not really intraday-trading any more, gaining lots of quality time that way.
btw here is my monthly levels/daily chart, looks like 4723/83 will be next..

what else have you been trading, now that you are trading longer term?
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Look Sharp/Trade Tight
  • #425,743
  • Apr 20, 2011 3:42pm Apr 20, 2011 3:42pm
Quoting PayTheLimit
btw here is my monthly levels/daily chart, looks like 4723/83 will be next..

what else have you been trading, now that you are trading longer term?
nzd/usd short from 0.79999
eur/jpy long during asia

that's it... no margin left *L
  • #425,744
  • Apr 20, 2011 3:42pm Apr 20, 2011 3:42pm
my analysis for todays session:

Gold, and oil up today. USDX down to 74.33

yesterdays ATR is up, meaning the force and volatility of the Euro has increased
i believe today will be bullish biased, price has been ranging after 193 pip movement from Low to High so its taking a breather partially on low volume d/t NY session and now close.

Resistance at price level 1.45's still there, with monetary policy from the FED still intact i think dollar weakness still the game.

i expect to play the levels as they come but i will attempt to go Long if and when a pull back occurs back to support 1.45

intial attack 5 mini lots
if market goes my way 10 lots on upward thrust exhaustion and 15 lots if trend continuation still strong.

will scale back on toping area, however the market could prove me wrong and price could break down at which point i could attempt a rescue if thrust is not to great and selling pressure not to forceful.

daily trend intact
hourly trend c resistance or support depending on our subjective biased.
feel the rhythm of the market at the 5 minute TF
AVT INVENIAM VIAM AVT FACIAM
  • #425,745
  • Apr 20, 2011 3:43pm Apr 20, 2011 3:43pm
Quoting Mr Hatch

draw a line at 1.4513.4 on daily and look at January 2010.
Jan 2010?
Look Sharp/Trade Tight
  • #425,746
  • Apr 20, 2011 3:46pm Apr 20, 2011 3:46pm
Quoting PayTheLimit
Jan 2010?
the closes of the candles inside the circle.
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  • #425,747
  • Apr 20, 2011 3:51pm Apr 20, 2011 3:51pm
Quoting Mr Hatch
the closes of the candles inside the circle.
got it, thats what I thought wou where pointing out...
Look Sharp/Trade Tight
  • #425,748
  • Apr 20, 2011 3:58pm Apr 20, 2011 3:58pm
Quoting PIPMunch
Are you building positions long or short? haha
They were long, just covered right before the roll here.
  • #425,749
  • Apr 20, 2011 3:58pm Apr 20, 2011 3:58pm
Quoting Mr Hatch
the closes of the candles inside the circle.
Candles?
  • #425,750
  • Apr 20, 2011 3:59pm Apr 20, 2011 3:59pm
Quoting PayTheLimit
got it, thats what I thought wou where pointing out...
I'd definitely like the creation of a flag before a breakout, but I may be late for that...
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  • #425,751
  • Apr 20, 2011 4:01pm Apr 20, 2011 4:01pm
Quoting SunTrader
Candles?
that chart is compressed for overview. it's a candlestick-chart.
  • #425,752
  • Apr 20, 2011 4:02pm Apr 20, 2011 4:02pm
I think im getting the hang of scalping...

http://i51.tinypic.com/350ouh0.png
  • #425,753
  • Apr 20, 2011 4:02pm Apr 20, 2011 4:02pm
Quoting Mr Hatch
the closes of the candles inside the circle.
Enlighten me,

I can draw the same circle with the same pattern on several places on your chart. What makes that one so special?

Hindsight?
  • #425,754
  • Apr 20, 2011 4:03pm Apr 20, 2011 4:03pm
hey SUN TRADER

how are you dude, you practice FTI's techniques as well?
AVT INVENIAM VIAM AVT FACIAM
  • #425,755
  • Apr 20, 2011 4:04pm Apr 20, 2011 4:04pm
Quoting Astroman
Fact: SS has a surplus. 2.6 Trillion which isinvested in the U.S. treasury. ( Congressional record, April 2011 ) which is why it is accounted for as debt.

Fact: Over 75% of SS payments are immediately paid out to SS recipients.So it only follows that less than 25% of SS revenues are currently creating a 2.6 Trillion dollar surplus.

You call them nothing more than IOU notes but these IOU's are backed by the only thing that counts.

Americans realize and are starting to demand that their tax payments stay at home instead of going overseas....
I don't want to start any political debate but honestly Americans have never gone into any wars purely for any just causes though. Every single war that America has ever gone into throughout history was either to protect/defend themselves or to have some economic gain. So in my books, they have never been the "World Police" but just some high-rolling venturists. They are getting out of mid-east right now cuz they are not getting any economic gain from it anymore; the cost they put in have exceeded from the gain that they were expecting to earn.
Make your losses in demo. Earn your profits live.
  • #425,756
  • Edited 4:22pm Apr 20, 2011 4:08pm | Edited 4:22pm
I think you are right. Wars have always been fought for economic gain. Not only by U.S. While doing that, I was wondering what in the world are we doing in Afganistan anymore. Building that nation..... nah.



http://www.google.com/search?aq=f&so...metals&qscrl=1

Quoting Forexia
I don't want to start any political debate but honestly Americans have never gone into any wars purely for any just causes though....
  • #425,757
  • Apr 20, 2011 4:08pm Apr 20, 2011 4:08pm
Closed my long near UTL @ 1.4525
We see tomorow if I missed the break of a bull flag......

M15:
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Don't be a hero. Don't have an ego. Always question yourself
  • #425,758
  • Apr 20, 2011 4:10pm Apr 20, 2011 4:10pm
GU - up to 5 pips spread on alpari... what fun to scalp at this time of the day, not.
  • #425,759
  • Apr 20, 2011 4:11pm Apr 20, 2011 4:11pm
@Forexia

Cool.

Cant totally argue with you on that one. But the people I work with, the people I drink with.....nevermind
  • #425,760
  • Apr 20, 2011 4:11pm Apr 20, 2011 4:11pm
Quoting Astroman
Enlighten me,

I can draw the same circle with the same pattern on several places on your chart. What makes that one so special?

Hindsight?
we closed above that for the first time today and are kind of curling around it atm. switch to the H1 and look at the hourly closes. in order to add longs, I need a test from the topside (incl. rejection).

the higher the tf, the better (for longs). don't ask me for any long-targets, I don't have any, as I don't trust the ez for a single dime.
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