Scalp, scalp, scalp

stop at break even 31 level,watch price at 45 level 5 min average

stop amended to 40 level + 7 pips.mid 50 still the problem,and still related values stalling

closing 46 level 13 pips

stalled took profit from the value changes stalling at the 50 level and dropping of

Really interesting thread diceman - I've never considered daily averages as a level to trade, but it does make sense.

Could I ask what you mean by "split high" and "split low"? I've search through the thread and couldn't find an explanation.

Thanks

Pete

thanks pete for taking an interest in my trading using averages.

the split high levels and lows are the extreme points in which the price will travel for each given time frame very similar to pivots and there extensions only mine are calculated from the average point of the given time frame.i find especially in the larger time frames they represent a level in which orders are naturally building ,related to our similar ingrained herd like tendencies,ie stops cluster as do new interests of buying or selling build,as with supply and demand traders who look at certain levels mine are evolving as price changes ,hence the levels re ajust accordingly.if combined with the money flows it can be a very useful way to determine bias and entry with bias.

ive looked at 1 min averages and there high point and low point,its quite fascinating how accurate they can be ,it seems theres a inherent pattern of price within its very structure.

price and the average of a given time frame converge to 1 of 2 points , a cycle ,converged low and high .when they all converge to 1 point price will be taken there for no other reason than that is were the orders have converged too.

i will post my way in which i calculate the extreme points and how price converges towards these two points,but i have not completed and i dont have total understanding yet.thats why this journal may seem quite chaotic.it is in its self stll a work in progress.



dice

hi pete,

to add one thing,the average is taken from past data,still very usefull in itself ,many good trading systems are based on averages,being moving or whatever,

the split highs and lows especially when they converge are a peep into time yet to have happened,they will become tomorrows average .

if you look at the posts wiith my longs 16231 was the 15 min split high.once price stalled at 50 level i calculated 5 min then 1 min from each lead candle.all converging to 31 level the 15 min split high.price has been hugging it for hours.it will now be an average on many time frames.thats why i took interest at that level when my buy stalled at 50,i needed to know were the orders were most likely building,hence i bought again at 31,hope that makes sense.

when this happens on larger time frames you can see how usefull that can be.daily weekly and monthly

Thanks very much - I'd be interested in seeing your calculations when ready and if you'd be so kind to share. It sounds almost like "market profile", but on a streamlined basis.

I would love to read about it too. William - diceman is one of the best scalpers here and one of a very few ppl who can post his entries live, very precise entries ; ) Learned a lot from his journal, i would recommend to read it all, lots of usefull stuff.

just dropped by to say hi
P.

thanks Polleczko,

im putting all the pieces together in regards to my whole method,

ive also recently changed the way i calculate the splits ,im now taking the calc from the average instead of the closing price,im still undecided as to the best calc for this.im getting more drift than i was previously getting.the drift tails are normal as the stochastic process shows,it may be nothing more than the market whole,ie the stalling across the market in general ,as this is when it generally occurs.

i know you dont use the value changes ,but they are the key to my entries and exits ,i know theres more to be gained from them but ive gone as far as i can without picking them up into excell or some other form of reading what they offer.unfortunatly this is were i fail,even if time permitted its behond me to learn this computer world.

sorry,im not ranting at you just speaking aloud through you.

thanks for dropping bye,

dice

to continue from last trading session,no recalc yet,as know change from the daily average and split,combined to short t/f

convergence from the hour averaged,yesterdays 15 min 5 min 1 min splits.

adjusted levels ,near term

my interest is at the daily average 16208,or above the hour average 16232,london should take us there

long on cable 16208 ,daily average.if price trades below will close,

minimum risk ,4 to 5 pips,looking for some momentum across related values,if not take b/e

would like more momentum related values flat,stop b/e

stopped out b/e,high point 17 level ,but wasnt looking for the 5 or 6 pip scalp.i would rather have minimal risk entry than use larger stops.if price trades below average my perspective may change,

8.35 value