Scalpers Lounge: for scalpers to share thoughts, ideas, and plays

So quick update on the AUD the stop-hunt caused a buying rally bringing it back up to the previous level right below the resistance where it just stoped the rally before.

the jump to hit the stop losses caused a rally of buying.

the rally is being liquidated and we should be returning back to the levels before this up rally.. Courtesy of dealers.. damn jack asses! Now we are returning back to our regulary scheduled programing.

explain please?

Great thread palabara.

I'm making a comeback to FF after a long break. Looking into scalping strategies and so far I like the content of this thread. Look forward to read and contribute.

Hey Palabara,

Sorry I should have tied that to this post. My bad...

So as you can see entering long on that initial break put you into a +9 pips position and as the end of the hour rolled around it started to provide a pullback.

Need to be ready to take your chips off the table while they are there or protect yourself and not let it turn into t a loss

Welcome back, Hct.

I'm glad you are enjoying the thread.. but, like its been said take here everything with a grain of salt.. In my opinion scalping is not like it used to be.. but, we have all different opinions.. I don't wish to mislead anyone.. I will keep sharing all the information and experience, I have gained over years of trading. Feel free to ask questions, myself and others will answer them to the best of our abilities.. I am very honest and transparent in my dealings.

That is very true, In my system.. the way I do it.. Or try to most of the time, discipline is not easy thing, its a constant battle with yourself. I say that once you get into a position.. you have 1 move!

What does that mean 1 move?! In my theory and dealings.. Whenever you get in.. besides the market going up a little bit.. away from your position.. etc.. you have the move.. like if its going to go 30 pips in your direction or away from your direction if its going to break S/R that you plotted or anything else that you setup as "key point" and after that move happens.. either for you or against you then your position is no longer valid and you must exit it either with Loss/Profit because.. I say its an invalid position.

What does that mean invalid position?! It means.. that you open a position in order for a move to happen the move happened.. the entry point is no loner valid.. the market has moved away from where you've entered.. if it retraces or whatever it does your opening positions is no longer makes sense.. now what does that do? It helps you become more accurate.

Now.. sometimes.. you know if you've been doing this long enough.. that depending on market momentum etc.. that the position might fade back and you don't want to cut it.. Emotions get in the way. but ideally this way works really good on accuracy especially if you plot this right below/above S/R point.. with a possible break or bounce strategy. you'll keep your losses small.. and you'll build accuracy.. and you'll learn to read the market better.

Hi palabra,
How to stay fresh both body and mind in front of monitor everyday?

very good question, Personally.. I look like the walking dead.. People would look at me and not see what they think when you tell them your a full time trader but... a full time bum lol.

Best way is to.. #1.. Don't get sucked into it.. it will dry you out and spit you out..do things you enjoy when the market is slow.. not to over constrain yourself on watching it till your eyes fall out.

Since I started trading full time.. I've watched more tv then I have in years -- not a good strategy but...it keeps my mind from exploding. I also learning 3D design and other stuff to keep yourself occupied.

then you also want to try and remain a healthy life style.. being behind the computer such long periods of time.. you snack and sit on your ass for hours on end..give it a couple of months and.. the results are not good. I'd suggest to not forget to exercise.. and eat right even though its to easy to do the opposite.

I'm not the best role model.. the only thing going for me is a I have a high metabolism, so thankfully. I don't look like a blimp, but.. still need to maintain a healthy life style and right choices.. and keep yourself occupied in other project things.. being over focused on trading -- a week in and you'll have tunnel vision, everything is just going to look the same every position and that's when mistakes happen. If you reflect focus away and come back, fresh mind and fresh perspective.