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Following the big money

  • #421
  • Jul 13, 2011 3:56am Jul 13, 2011 3:56am
Quoting srmfx
It's not only the entry. The scalping is more about the position management.
Can you tell us more how you do it?
  • #422
  • Jul 13, 2011 5:16am Jul 13, 2011 5:16am
Quoting cash_machine
Can you tell us more how you do it?
When I don't like the price action, just like today, I make the same entries but my targets are not as usual. I aim for a few pips.
  • #423
  • Jul 13, 2011 4:58pm Jul 13, 2011 4:58pm
Quoting srmfx
When I don't like the price action...
What you are looking for in the price action? Can you give some examples of "bad" price action?
  • #424
  • Jul 14, 2011 1:17am Jul 14, 2011 1:17am
Quoting cash_machine
What you are looking for in the price action? Can you give some examples of "bad" price action?
The worst case is when someone is trying to push the market up or down against fundamentals and/or technicals. Usually 20-30 pips moves are follow by only 5-6pips pullbacks or correction in time rather than price. This is typical when Asian sovereigns are buying like yesterday. If you miss the first entry all day a new one may not come.
  • #425
  • Jul 14, 2011 1:18am Jul 14, 2011 1:18am
Double bottom. 1st part closed at +5.2p, 2nd at +10p. Stop is at -4.9p
Attached Image (click to enlarge)
Click to Enlarge Name: eur double bottom.png Size: 40 KB
  • #426
  • Jul 14, 2011 1:23am Jul 14, 2011 1:23am
SL moved at +3p.
  • #427
  • Jul 14, 2011 1:29am Jul 14, 2011 1:29am
Stop at +10p
  • #428
  • Jul 14, 2011 2:01am Jul 14, 2011 2:01am
Last part closed for 29 pips profit. I'll wait until the big guys choose in which direction will push the EURUSD.
  • #429
  • Jul 14, 2011 2:37am Jul 14, 2011 2:37am
Only one trade for me today, because i have a importen exam at 10 o`clock

1st = 6pips
2nd = BE
3rd= BE

srmfx i`m beginning to really like your position management
Attached Image (click to enlarge)
Click to Enlarge Name: 14.07.2011.jpg Size: 207 KB
  • #430
  • Jul 14, 2011 2:51pm Jul 14, 2011 2:51pm
I like this thread, its pretty much identical to my style of trading.
  • #431
  • Jul 15, 2011 1:30am Jul 15, 2011 1:30am
STE. 1st part at +6p, 2nd at +14p. stop is at -5.7p
Attached Image (click to enlarge)
Click to Enlarge Name: ste.png Size: 41 KB
  • #432
  • Jul 15, 2011 1:37am Jul 15, 2011 1:37am
Stop at BE.
  • #433
  • Jul 15, 2011 1:48am Jul 15, 2011 1:48am
Stop at +6p.
  • #434
  • Jul 15, 2011 2:19am Jul 15, 2011 2:19am
Market is nervous and the position was stopped for just 0.5p.
  • #435
  • Jul 17, 2011 10:26pm Jul 17, 2011 10:26pm
Quoting srmfx
For long position I move the stop below swing lows at 1M charts when the swing high is broken. The opposite if true for shot positions.

Thank you, actually this is a very nice tip. Now I adopt this method.

  • #436
  • Jul 17, 2011 10:35pm Jul 17, 2011 10:35pm
Quoting srmfx
Big guys always try to trick the small traders and almost never reverse the price moves with V tops or bottoms. One of their favorite patterns are 1-2-3 tops and bottoms. This example ................
Srmfx, I often follow this 1-2-3 pattern, but when I success to ride this big move, usually I don't know exactly when I should exit. What's your tip?
  • #437
  • Jul 18, 2011 1:31am Jul 18, 2011 1:31am
STE off 50 EMA. 1st part at +5p, 2nd at +1p. Stop is at -5p.
Attached Image (click to enlarge)
Click to Enlarge Name: ste1.png Size: 45 KB
  • #438
  • Jul 18, 2011 1:46am Jul 18, 2011 1:46am
3rd part closed for 21p profit.
  • #439
  • Jul 18, 2011 2:39am Jul 18, 2011 2:39am
STE off 20 EMA. 1st and 2nd part closed for 5p profit. Stop at -4.5p. If the low is broken I'll move to BE.
Attached Image (click to enlarge)
Click to Enlarge Name: ste2.png Size: 43 KB
  • #440
  • Jul 18, 2011 2:42am Jul 18, 2011 2:42am
Quoting 100m
Srmfx, I often follow this 1-2-3 pattern, but when I success to ride this big move, usually I don't know exactly when I should exit. What's your tip?
You should work on the position management. I wrote about that a few times in this thread.
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