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Attachments: Box Scalping
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Box Scalping

  • #481
  • Sep 1, 2011 9:41am Sep 1, 2011 9:41am
Quoting Forexcube
EURUSD, M1, 2011 September 01
Long @ 1.4230
See #480

Life Trading
EURUSD, M1, 2011 September 01
Exit @ 1.4237
Profit: +7 Pips
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD, M1, 2011 September 01,16h41.jpg Size: 103 KB
  • #482
  • Sep 1, 2011 9:48am Sep 1, 2011 9:48am
Life Trading
EURUSD, M1, 2011 September 01
Long @ 1.4233
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD, M1, 2011 September 01,16h49.jpg Size: 94 KB
  • #483
  • Sep 1, 2011 9:51am Sep 1, 2011 9:51am
Quoting Forexcube
Life Trading
EURUSD, M1, 2011 September 01
Long @ 1.4233
See #482

Life Trading
Exit @ 1.4240
Profit: +7 Pips
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD, M1, 2011 September 01,16h51.jpg Size: 94 KB
  • #484
  • Sep 1, 2011 10:06am Sep 1, 2011 10:06am
Quoting B737Pilot
OK OK :-) guys lets do some serious scalping...OCO is a toy..take it for what it is.
I consider all Traders to be friends and so offer my Best advice - I hope you do not mind. If you are trading, Do NOT treat anything connected with Forex as Toy - it can blow-out a couple of years of savings before you know it.

Again, excuse my Op - work hard at it to make money - no easy way out !

Best Regards.
  • #485
  • Sep 1, 2011 4:14pm Sep 1, 2011 4:14pm
Quoting Forexcube
See #480

Life Trading
EURUSD, M1, 2011 September 01
Exit @ 1.4237
Profit: +7 Pips
hi forex cube question is why did you get out the trade when the CCI hit 0
  • #486
  • Edited 5:26pm Sep 1, 2011 5:08pm | Edited 5:26pm
Quoting 408gls
hi forex cube question is why did you get out the trade when the CCI hit 0
See #485

Hi 408gls
I didn't look at CCI hit Zero. When you click with the left mouse button on the chart it will get larger and you coud see the right value. In this case the CCI was below -120 (M1 Level) and the Market seems more to have had a low Volatility and 7 Pips were enough for me. At first I take a look at the Market Environments (Volatility, Range Bound or more a Trend, and so on) and then I decide to get out earlier of the market (after 2-10 Pips) or let some of the orders more run into the win. When I think that the Market could change e.g. at a Pivotal Point and could have develop the power for a M5 trend I tend more to go in the market with three orders or more and let the last one(s) run in the "heaven" (maybe 20-50 Pips) with a Trailing Stop. Life Trading take this into account. But at first of all I W A I T for market entries with higher probablities of success and the CCI-Indicator could give good signals with -120/+140 at M1 and so look at the CCI-Tops and Bottoms at M5, also. You could also take a look at CCI-H1-Top, then switch down and wait at the CCI-M30-Top, the next chance could be CCI-M15-Top, afterwards at a CCI-M5 and M1-Top and trade at all these levels short - et vice versa. In the last case you would have had another risk-reward-ratio, ...why not?
Kindest regards
FXcube
  • #487
  • Sep 1, 2011 6:40pm Sep 1, 2011 6:40pm
Quoting Forexcube
See #485

Hi 408gls
I didn't look at CCI hit Zero. When you click with the left mouse button on the chart it will get larger and you coud see the right value. In this case the CCI was below -120 (M1 Level) and the Market seems more to have had a low Volatility and 7 Pips were enough for me. At first I take a look at the Market Environments (Volatility, Range Bound or more a Trend, and so on) and then I decide to get out earlier of the market (after 2-10 Pips)...
ok thanks i think i got it you said you do multiple orders with the same currency at different levels ?
  • #488
  • Sep 2, 2011 12:32am Sep 2, 2011 12:32am
Quoting 408gls
ok thanks i think i got it you said you do multiple orders with the same currency at different levels ?
Yes!
...and so... first of all it's more a kind of Time- & Money Management and the Strategy by any standards should be more subordinate (it's not that important!).
FXcube
  • #489
  • Sep 2, 2011 12:41am Sep 2, 2011 12:41am
You can make with a subprime strategy more money when you have an excellent Money- & Riskmanagement as you can give up the ghost a superb strategy with a fake M&R.
  • #490
  • Sep 2, 2011 12:55am Sep 2, 2011 12:55am
Across all the markets I've traded that is the honest truth. The sooner novices learn that the better off they are. There's only 3 signals a trading system produces: buy, sell, no trade

It's what you do with that signal that matters and where experience comes into play.

I've been trading lately using Oanda's mobile app lately and since it doesn't have any indicators I can't use things like the CCI. Instead what I look for are price pivots (a low, a lower low, a higher low. Looks like a triangle) and have been very successful.
I hope you don't mind forexcube that I'm pimping another thread, but Chantalb's "Trading Price Pivots" has an excellent explaination of it. Over there they trade higher timeframes, but a pivot has to start at lower timeframes...
  • #491
  • Sep 2, 2011 1:47am Sep 2, 2011 1:47am
Quoting BongaBonga
Across all the markets I've traded that is the honest truth. The sooner novices learn that the better off they are. There's only 3 signals a trading system produces: buy, sell, no trade

It's what you do with that signal that matters and where experience comes into play.

I've been trading lately using Oanda's mobile app lately and since it doesn't have any indicators I can't use things like the CCI. Instead what I look for are price pivots (a low, a lower low, a higher low. Looks like a triangle) and have been very successful.
I hope you...

Hi BongaBonga
You're wellcome!
FXcube
  • #492
  • Sep 2, 2011 1:49am Sep 2, 2011 1:49am
Quoting BongaBonga
...Instead what I look for are price pivots (a low, a lower low, a higher low. Looks like a triangle) and have been very successful...


It's absolutely sufficient!
  • #493
  • Edited 4:22am Sep 2, 2011 1:53am | Edited 4:22am
Quoting BongaBonga
I hope you don't mind forexcube that I'm pimping another thread, but Chantalb's "Trading Price Pivots" has an excellent explaination of it. Over there they trade higher timeframes, but a pivot has to start at lower timeframes...


The Link is:
http://www.forexfactory.com/showthread.php?t=298439

...and take a look at:
http://www.actionforex.com/markets/p...2010040848154/

Standard Pivot Points
Pivot points are very useful tools that use the previous bars' highs, lows and closings to project support and resistance levels for future bars. The following pivot point tables are based on standard pivot point formula. Five time frames are provided: hourly, 4 hours, daily, weekly, monthly. For other types of pivot points, please check out the pages below:

 

  1. Fibonacci Pivots
  2. Camarilla Pivots
  3. Woodie's Pivots
  4. DeMark's Pivots

Also, you can find formulas for calculating the pivot points in this page.

  • #494
  • Sep 2, 2011 9:59am Sep 2, 2011 9:59am
EURUSD, M1, 2011 September 02

Market Price has reached the Pivotal DS1 1.4203

Long @ 1.4190 (1st Entry Order)
Long @ 1.4200 (2nd Entry Order)

Exit @ 1.4206

Profit: + 16 Pips (1st Order)
Profit: + 6 Pips (2nd Order)

Total: +16 Pips
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSD, M1, 2011 September 02.jpg Size: 94 KB
Click to Enlarge Name: EURUSD, M1, 2011 September 02, 16h53.jpg Size: 96 KB
  • #495
  • Sep 3, 2011 1:08am Sep 3, 2011 1:08am
Hi,

I feel like a real novice with my inquiry...I have read the thread but it escapes me what constitutes a "Fulfilled Box". Can someone please provide a definition? My apologies if this has been answered earlier.

Thanks,
BC2
  • #496
  • Edited 4:28pm Sep 4, 2011 4:09pm | Edited 4:28pm
Quoting Bobcat2
Hi,

I feel like a real novice with my inquiry...I have read the thread but it escapes me what constitutes a "Fulfilled Box". Can someone please provide a definition? My apologies if this has been answered earlier.

Thanks,
BC2
There is no definite answer to this question. When plotting a Fulfilled Box you don't want the reflexes of the Market. You only want to plot its intentional movements. Often you can set a "Fulfilled Box" e.g. at a EURUSD-M15/M30 Resistance or Support Line and trade it at M1/M5, see also the hint at p.1, #1, "Fulfilled Box Location" (read also the advice of DrDave, #199). Be careful in setting a "Fulfilled Box". At those times it seemed like the market was "breaking". In hindsight we can see that the market was merely testing that level.
FXcube



  • #497
  • Sep 4, 2011 4:10pm Sep 4, 2011 4:10pm

How to draw Support & Resitance?
Link:
E.g. http://www.babypips.com/school/suppo...esistance.html
  • #498
  • Sep 5, 2011 6:51pm Sep 5, 2011 6:51pm
Life Trading
EURUSD, M5, 2011 September 06
Long @ 1.4068
SL @ 1.4063
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD, M5, 2011 September 06, 1h48.jpg Size: 88 KB
  • #499
  • Sep 5, 2011 6:55pm Sep 5, 2011 6:55pm
Quoting Forexcube
Life Trading
EURUSD, M5, 2011 September 06
Long @ 1.4068
SL @ 1.4063
See #498

Exit @ 1.4071
Profit: +3 Pips
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD, M5, 2011 September 06, 1h50.jpg Size: 89 KB
  • #500
  • Sep 5, 2011 7:02pm Sep 5, 2011 7:02pm
Look at M5 Support, please.
Maybe set some Sell Limits at this Support Level.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD, M5, 2011 September 06, 2h00.jpg Size: 90 KB
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