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Scalper

  • #41
  • May 13, 2013 5:08am May 13, 2013 5:08am
who can tell me between the 4pairs under our watch which ones offer signal potential?
Passion, Persist, Patience, Protect
  • #42
  • May 13, 2013 5:09am May 13, 2013 5:09am
Hello all - I am a scalper also. I am hoping to learn more from this thread.
  • #43
  • May 13, 2013 9:35am May 13, 2013 9:35am
Quoting FXEmpire
{quote} NO.
FXEmpire, this is kind of the scenario I was talking about. It happened Friday, the last trading day, but I think it would be similar any time there's a strong move.

Will you take a look at the chart and let me know if there's something i'm not doing correctly?

thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: scalper eu m5 5.10.13.png Size: 66 KB
It's a buy the dip scheme, ya feel me?
  • #44
  • May 13, 2013 9:57am May 13, 2013 9:57am
Quoting nightstocher
{quote} FXEmpire, this is kind of the scenario I was talking about. It happened Friday, the last trading day, but I think it would be similar any time there's a strong move. Will you take a look at the chart and let me know if there's something i'm not doing correctly? thanks. {image}
sure... what your not doing is reading my 1st post clearly.. please read the entry and art of the work section where i talk about manual slick exit.

your 1st and 4th entries are invalid and you did not take into account last winning entry couple of hours past nys.

if I would have suggested to trade off some manual sort of robotic way then it would have look like what you have shown.
Passion, Persist, Patience, Protect
  • #45
  • May 13, 2013 10:31am May 13, 2013 10:31am
Quoting FXEmpire
{quote} sure... what your not doing is reading my 1st post clearly.. please read the entry and art of the work section where i talk about manual slick exit. your 1st and 4th entries are invalid and you did not take into account last winning entry couple of hours past nys. if I would have suggested to trade off some manual sort of robotic way then it would have look like what you have shown.
ok. thanks for the quick reply. i think i understand your logic a lot better. you're more or less waiting for OBOS retracements in an area where they're likely to occur and bailing at the earliest sign of possible trend continuation, is that right? It seems pretty sound.

i had some confusion on what you meant by outside bands. the 1st and 4th trades you said were invalid both close outside the bands, but they pierced the band, so you're saying to be outside the band they don't even touch it? And i didn't pick up that last trade b/c i hadn't seen the trade before it had already hit a SL. i've updated the chart to reflect these. thanks again for your help.
Attached Image (click to enlarge)
Click to Enlarge Name: scalper eu m5 5.10.13 updated.png Size: 64 KB
It's a buy the dip scheme, ya feel me?
  • #46
  • May 13, 2013 11:57pm May 13, 2013 11:57pm
Quoting nightstocher
{quote} ok. thanks for the quick reply. i think i understand your logic a lot better. you're more or less waiting for OBOS retracements in an area where they're likely to occur and bailing at the earliest sign of possible trend continuation, is that right? It seems pretty sound. i had some confusion on what you meant by outside bands. the 1st and 4th trades you said were invalid both close outside the bands, but they pierced the band, so you're saying to be outside the band they don't even touch it? And i didn't pick up that last trade b/c i hadn't...

ob/os do not necessarily happen on only the pullbacks, it happens during any market condition. I would look to bail out on the earliest sign of trouble during (again) any condition.
on entries, you want clear price separation from band to exhaustion of price with gap/loop in between for more reliable entries maybe. and do not forget the 3.3pips buffer + spread and a scalper knows better to choose ecn broker with low spread.
The real key are, on defensive side.. the section about slick exit, which turns a -15's to BE or under -5 loss.. and on offensive side, ones real job is to capitalize when price reaches the target zone area before 1st sign of trouble comes in and not fall into illusion of making more pips or catch a runner every time.
Passion, Persist, Patience, Protect
  • #47
  • May 14, 2013 12:48am May 14, 2013 12:48am
gj ej and eu are well extended beyond band and good for potential setup.. looking to take shot at..
Passion, Persist, Patience, Protect
  • #48
  • May 14, 2013 1:01am May 14, 2013 1:01am
Hi mates,

my msg is primarily for newbies or losing traders: if you gonna scalp against trend with 50 pips SL using TMA&MACD and entering at the break of counter trend candle high / low you will blow your account in no time.

My sincere advice to the thread author: please save you money and find other method to scalp. This one is the sure way to lose.

Good luck to all.
For my fallen angels.
  • #49
  • May 14, 2013 2:00am May 14, 2013 2:00am
Quoting Big_A
Hi mates, my msg is primarily for newbies or losing traders: if you gonna scalp against trend with 50 pips SL using TMA&MACD and entering at the break of counter trend candle high / low you will blow your account in no time. My sincere advice to the thread author: please save you money and find other method to scalp. This one is the sure way to lose. Good luck to all.
Thanks for your useless input no offense, and people are free to listen to your suggestion. However, please take the time to read the 1st post in full and understand before making suggestions, as the main point of success i suggested is pointed to risk control. If to trade like a robot like most people like you do, then it's true.. by letting the 50 pips sl to be hit like a ding dung, purpose of 50 pips sl is to be away from the heat in the early stages of the trade to see if its going to find it way to profit target and if not sl will be tighten with slick exit on top of it to get way free from a chance given for profitability.
there is no trend in 5m, it's noise. if your looking for trend in 5m to scalp, then you way off friend.
I knew people like you would come out and say stuff like this and there will be more i am sure.. that is why i purposely set a small size explorer with risking around 7% to show that if one develops the necessary skill it is highly possible to be super profitable even with such higher risk scenario.
on larger account with 2% risk for a skillful trader this will be walk in the park day in day out.. i done it for years and time will tell as i make progress in this account.

it's all good, I expected that most people would not understand it. Trading is not for everyone.
Passion, Persist, Patience, Protect
  • #50
  • May 14, 2013 4:24am May 14, 2013 4:24am
Hi! I will try you system, but during NY market! lets see!
I know where the market is going to move next: to the righ! XD
  • #51
  • May 14, 2013 4:37am May 14, 2013 4:37am
Quoting fugio
Hi! I will try you system, but during NY market! lets see!
you sound like your doing me a favor.. lol.. just kidding.
Welcome to the thread
Passion, Persist, Patience, Protect
  • #52
  • May 14, 2013 4:46am May 14, 2013 4:46am
Quoting FXEmpire
{quote} you sound like your doing me a favor.. lol.. just kidding. Welcome to the thread
hahaha! not at all!
I am just looking a way to fine tune my entries on lower timeframes!
I know where the market is going to move next: to the righ! XD
  • #53
  • Edited 5:50am May 14, 2013 5:13am | Edited 5:50am
Quoting fugio
{quote} hahaha! not at all! I am just looking a way to fine tune my entries on lower timeframes!
well, I am obligated to tell you that if your looking for better or high accurate entry then this won't do it.. the focus in here as a key for success is what you do beyond the trigger based on a casual entry.
i only say this so you and others know what they should look for in this thread.
Passion, Persist, Patience, Protect
  • #54
  • May 14, 2013 5:49am May 14, 2013 5:49am
I find scalps work better in direction of trend/bias when there is one. So I take only one direction that I identified as bias.

I am out if no bias detected. It is just waste of time.

Do you have filter like that in your repertoar ?
  • #55
  • May 14, 2013 6:27am May 14, 2013 6:27am
Quoting seaman2
I find scalps work better in direction of trend/bias when there is one. So I take only one direction that I identified as bias. I am out if no bias detected. It is just waste of time. Do you have filter like that in your repertoar ?
i sum it up for you in one sentence.. in small frame scalping, too much filtering does more harm than good.

in small frame there is no such thing as trend.. you will have more of everything else than trend in overall market anyways, more so in small frame .. so by filtering you will only eliminated yourself from more opportunities. mean time its only logical to end up with losing triggers, but in reverse it will also get you in more chances for profit.
risk control is what your filtering is in scalping.
Passion, Persist, Patience, Protect
  • #56
  • May 14, 2013 7:07am May 14, 2013 7:07am
Did you guys know you be way better off not worshiping the "Trend" so much.. even though its put so much stress and insists on it from all.

just something to think about..
Passion, Persist, Patience, Protect
  • #57
  • May 14, 2013 11:48am May 14, 2013 11:48am
FxEmpire

Is the minus 40% trade explorer a reflection of the method you are trading here or is just an account with random trades?
Never Ever Give Up!
  • #58
  • Edited 12:25pm May 14, 2013 12:13pm | Edited 12:25pm
Quoting Cobra
FxEmpire Is the minus 40% trade explorer a reflection of the method you are trading here or is just an account with random trades?
Its all this method.. i use higher risk than normal on this small account purposely and unfortunately have not been able to trade full time last couple of days as a result have missed some good winners.. its not a problem it will be up in no time.
Passion, Persist, Patience, Protect
  • #59
  • May 14, 2013 1:23pm May 14, 2013 1:23pm
Quoting FXEmpire
Did you guys know you be way better off not worshiping the "Trend" so much.. even though its put so much stress and insists on it from all. just something to think about..
It is not trend as per popular belief, above xxx MA or similar. This has no value.

It is knowing with considerably more than 50% probability where market will move next over several days. For example I am only shorting aud since last wednesday. Longing it would not produce any reasonable winner in that period. My hope is that in this way one can extract more pl if correct for given level of risk than engaging swing trade with larger stop.

If I have no directional signal, do not trade, as skill to make money without extra info is beyond my level.
  • #60
  • May 15, 2013 1:14am May 15, 2013 1:14am
Quoting seaman2
{quote} It is not trend as per popular belief, above xxx MA or similar. This has no value. It is knowing with considerably more than 50% probability where market will move next over several days. For example I am only shorting aud since last wednesday. Longing it would not produce any reasonable winner in that period. My hope is that in this way one can extract more pl if correct for given level of risk than engaging swing trade with larger stop. If I have no directional signal, do not trade, as skill to make money without extra info is beyond...
what your saying could be true for long term trading.. but for scalping is meaningless.

just a thought.. market trends only about 30% of the times at best.. rest of the time does everything else.. now go figure.
Passion, Persist, Patience, Protect
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