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Box Scalping

  • #81
  • Aug 7, 2011 4:50pm Aug 7, 2011 4:50pm
Ok, that's exactly what I mean. If you look at my Boxes, they are different to yours because I use mechanical entrys (higher Lows, Lower Highs).

You use additional stuff to draw boxes and that's the difficulty and this can no one tell you where to draw them except you know the TURNING POINTS. (and that is the hard part which cannot be solved by boxes, that's what I meant)

greets Jack

You are able to draw such boxes with nice turns but lots of people cannot do this cause they simply don't know when there's a turn (look again at my boxes, you never know when it turns)
  • #82
  • Edited 7:50pm Aug 7, 2011 7:20pm | Edited 7:50pm
Quoting JackintheBox
Ok, that's exactly what I mean. If you look at my Boxes, they are different to yours because I use mechanical entrys (higher Lows, Lower Highs).
greets Jack
Hi Jack
I understand your statements very well but your arguments don't seems logical for me for three reasons.
First: Your boxes aren't right. See my corrected design further up, #79 , #77. Second: Most of the trader know that after a big move the market is often falling in a consolidation phase, so not the best opportunity to scalp the 10-Grid-Design. Third: You take one example with Higher Lows (e.g., #71) and apply it at all market environments. Absolutely not! It's at the outset to explain the research criteria for setting the best fulfilling boxes (although this design aren't eligible for the Holy Grail). I have described only one aspect for setting a Box. Give me time to explain it more in detail here at board, please ...but if you have placed the Box everybody knows what is to do.
Where to set the Box is the topic which has more point out here at this board when following the price process, because everybody would set it at another place. That's absolutely right!
FXcube
  • #83
  • Aug 7, 2011 7:48pm Aug 7, 2011 7:48pm
Quoting JackintheBox
You use additional stuff to draw boxes and that's the difficulty and this can no one tell you where to draw them except you know the TURNING POINTS. (and that is the hard part which cannot be solved by boxes, that's what I meant)
greets Jack
  • #84
  • Edited Aug 8, 2011 5:35am Aug 7, 2011 7:51pm | Edited Aug 8, 2011 5:35am
Quoting JackintheBox
You are able to draw such boxes with nice turns but lots of people cannot do this cause they simply don't know when there's a turn (look again at my boxes, you never know when it turns)


Okay may be it's better then we made here an end of all further discussion about the topic where could set a qualified turning point (a Fulfilled Box)! It's the essence of all forex workers to point out where Market turns. It isn't so difficult and traders who won't learn it couldn't trade successfully. If so then all strategies might be a risky system moreover the Holy Grail don't exist.

Coming back to your example: You have it apply in the wrong way and you know it!

What a pity!
FXcube
  • #85
  • Edited 6:16am Aug 8, 2011 5:41am | Edited 6:16am
EURUSD, M1, 2011 August 08
Live Trading

Enter Long at 1.4270

Stop Loss @ 1.4250 (by using the Triling Stop).

(Next Pivotal is mR1 1.4289).

Why set the SL 10 Pips below the "Fulfilled Box" (-20 Pips/1.4250) and not at the Bottom of it (1.4260)?
Market seems to move in a sideway direction with no Vola and no Momentum and it is lunchtime.
Price Movement between a 20 Pip Range seems more possible at this market environment, ... or you don't trade this market situation never ever.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD, M1, 2011 August 08.jpg Size: 107 KB
  • #86
  • Aug 8, 2011 6:30am Aug 8, 2011 6:30am
Hi FXC.

I'm really looking forward to testing this system in my week off - next week .

A confirmation of the above example:

As I have understood you would
go long at 1.42600,
stop loss at 1.42500,
take profit at 1.4270 (half and let the other half run after moving SL to 1.42600)

From your picture it looks like you have just gone long at 1.42700, but then I would be vary of the possible resistance at that level (half an hour earlier).

Kind regards.
  • #87
  • Edited 6:51am Aug 8, 2011 6:39am | Edited 6:51am
Quoting Skovjuul
Hi FXC.

I'm really looking forward to testing this system in my week off - next week .

A confirmation of the above example:

As I have understood you would
go long at 1.42600,
stop loss at 1.42500,
take profit at 1.4270 (half and let the other half run after moving SL to 1.42600)

From your picture it looks like you have just gone long at 1.42700, but then I would be vary of the possible resistance at that level (half an hour earlier).

Kind regards.
Hi Skovjuul
You could do in your described manner a little time before (see the chart below, please), but then I wasn't sit in front of my monitor to take the better chance.

This was my intention.
e.g. Option B (3 x 0.1 Lot)
Go Long @ 1.4270
Stop Loss @ 1.4250
Take Profit @ 1.4280 (first x 0.1)
Trailing Stop @ 1.4260 if 1.4280 has reached.
Take Profit @ 1.4290 (second x 0.1)
Take Profit @ ? (third x 0.1) when Trailing Stop has triggered.
and may one was a loss!
FXcube
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD, M1, 2011 August 08, result.jpg Size: 163 KB
  • #88
  • Edited 7:58am Aug 8, 2011 6:55am | Edited 7:58am
Market Environment: DPV 1.4216 has reached.
EURUSD, M1, Grid 5/10, 2011 August 08

Long @ 1.4220

Stop Loss @ 1.4210

Option B (3 x 0.1)

___
(Chart is made afterward).
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD, M1, 2011 August 08, v1.jpg Size: 153 KB
  • #89
  • Edited 7:58am Aug 8, 2011 7:03am | Edited 7:58am
Quoting Forexcube
Long @ 1.4220

chart will follow later.

DPV 1.4216 has reached.
1.4230 is reached

1. Take Profit +10

Trail the Stop at 1.4220 just now.

___
(Chart is made afterward).
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD, M1, 2011 August 08, v2.jpg Size: 165 KB
  • #90
  • Edited 7:58am Aug 8, 2011 7:08am | Edited 7:58am
Live Trading
Market Price has reached 1.4235 (Grid 5)

You could also go out here with the second x 0.1 lot, when trading by trading the Grid 5 intermediate.

...but I would stay in the Trade and let the win further run, or go out with the second one and hold the third x 0.1 longer in the market.

___
(Chart is made afterward).
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD, M1, 2011 August 08, v3.jpg Size: 172 KB
  • #91
  • Edited 7:35am Aug 8, 2011 7:24am | Edited 7:35am
Market Price is struggling near DP 1.4216.

Change the Grid at 5 and trade further on M1.
  • #92
  • Edited 8:44am Aug 8, 2011 8:08am | Edited 8:44am
Live Trading

Market environment: mS1 1.4175 has reached.

Trade the M1 Grid5/10 with Option B (3 x 0.1 Lot)

Long @ 1.4180

Stop Loss @ 1.4170

(DS1 1.4135)
  • #93
  • Edited 8:57am Aug 8, 2011 8:46am | Edited 8:57am
Quoting Forexcube
Live Trading

Market environment: mS1 1.4175 has reached.

Trade the M1 Grid5/10 with Option B (3 x 0.1 Lot)

Long @ 1.4180

Stop Loss @ 1.4170

(DS1 1.4135)
Stop Loss has been triggered.

Loss: -10 pips

So next downward movement could be 1.4135 (DS1). So I would wait for a higher profit-entry-chance.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD, M1, 2011 August 08, v2_2.jpg Size: 147 KB
  • #94
  • Edited 10:01am Aug 8, 2011 9:35am | Edited 10:01am
Live Trading

Long @ 1.4135

Stop Loss @ 1.4120

___
(Chart is made afterward).
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD, M1, 2011 August 08, v3_1.jpg Size: 144 KB
  • #95
  • Edited 10:05am Aug 8, 2011 9:37am | Edited 10:05am
Quoting Forexcube
Long @ 1.4130

Stop Loss @ 1.4120
Live Trading

By a Grid 5 /10

...and out @ 1.4140

Profit: + 5 Pips

It's better to go out and in and out and in several times for only a few pips, may be only for 5 pips now, but let the third order run further on.

Why?

Market Price is struggling around a Pivotal Point.

___
(Chart is made afterward).
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD, M1, 2011 August 08, v3_2.jpg Size: 150 KB
  • #96
  • Edited 10:12am Aug 8, 2011 9:41am | Edited 10:12am
Quoting Forexcube
Long @ 1.4135

Stop Loss @ 1.4120
Live Trading

1.4150 is reached

Set Trailing Stop at 1.4135

and go out with the second order at 1.4150

Profit: + 15 Pips.

___
(Chart is made afterward).
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD, M1, 2011 August 08, v3_3.jpg Size: 150 KB
  • #97
  • Edited 10:22am Aug 8, 2011 9:43am | Edited 10:22am
Quoting Forexcube
Live Trading

Long @ 1.4135

Stop Loss @ 1.4120
Live Trading

Exit with the last one (third Order) at 1.4170 just now.
..but you could stay longer in the trade by trailing the Stop at 1.4160. Why not!

Profit: + 35 Pips.

Why?
The Market has reached the next M1 resistance Level and the Profit should be enough for M1 Trading.
___
(Chart is made afterward).
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD, M1, 2011 August 08, v3_4.jpg Size: 154 KB
  • #98
  • Aug 8, 2011 11:05am Aug 8, 2011 11:05am
Thanks ForexCube for sharing your thoughts. I have to admit that I exaggerate my examples, yes but I neede to do this so it's clear what I meant. I'm just studying different turning points/possibilies and their some hints but I have to learn more a about that.
Thanks also for live trading ! I guess you need statistical skills and a "feeling" for a possible turn and as you showed it's worth 30 pips or more, so 2 fake-ins are ok approx. to get a well CR-Ratio of 1.5 (Gain/loss) .

What I recognized is that their often a turning point in market between Europe and open of Us-Session, good to trade I take that sometimes.

Greets JAck
  • #99
  • Aug 8, 2011 11:27am Aug 8, 2011 11:27am
Quoting JackintheBox
Thanks ForexCube for sharing your thoughts. I have to admit that I exaggerate my examples, yes but I neede to do this so it's clear what I meant. I'm just studying different turning points/possibilies and their some hints but I have to learn more a about that.
Thanks also for live trading ! I guess you need statistical skills and a "feeling" for a possible turn and as you showed it's worth 30 pips or more, so 2 fake-ins are ok approx. to get a well CR-Ratio of 1.5 (Gain/loss) .

What I recognized is that their often a turning point in market...

Hi Jack

I think when we put our experience together we could work out these Turning Points with a/the higher/est Probability of Success to get an even better CR-Ratio (over 1.5). I will explain my concepts of turning points in the next weeks here at board. Hope you and others could make the same. The FF Members could chose among these concepts all these ones which fit the best for themselves.

I like your point of view.

You're wellcome!

Best regards
FXcube
  • #100
  • Aug 8, 2011 11:38am Aug 8, 2011 11:38am
Quoting JackintheBox
What I recognized is that their often a turning point in market between Europe and open of Us-Session, good to trade I take that sometimes. Greets JAck
It's a good time for making some pips, no doubt!,...also when the market is closing.
FXcube
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