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  • #897,221
  • May 13, 2014 7:03am May 13, 2014 7:03am
Now that we have got the red close. You can either go into a scalp sell. Or wait for an engulf of the last red candle, and re-enter the buy. At this point I won't chase the sell, as my belief is that US session will cause a reversal, as I don't see why US traders will chase a sell position considering the drop we have seen in E/U and EUR/CAD this differs from what we saw friday, because the drop on friday came in the US session, not London's.
Keep your Pip-drawdown low. That is the key to using high equity + high lev
  • #897,222
  • May 13, 2014 7:08am May 13, 2014 7:08am
My bot switched sides.. it went long @ 1.3709
K.I.S.S.
  • #897,223
  • May 13, 2014 7:10am May 13, 2014 7:10am
Quoting svetetow
atm its below 3751/43.. What does atm mean? Tnx!
No it doesn't mean that. ATM means At the moment.
Keep your Pip-drawdown low. That is the key to using high equity + high lev
  • #897,224
  • May 13, 2014 7:10am May 13, 2014 7:10am
Quoting ScalpLikeMe
Now that we have got the red close. You can either go into a scalp sell. Or wait for an engulf of the last red candle, and re-enter the buy. At this point I won't chase the sell, as my belief is that US session will cause a reversal, as I don't see why US traders will chase a sell position considering the drop we have seen in E/U and EUR/CAD this differs from what we saw friday, because the drop on friday came in the US session, not London's.
Interesting observation. I thought we were looking for a close below the signal bar (with arrow in image)
Ill need to look at some previous examples, im not totally getting it yet
Attached Image
  • #897,225
  • May 13, 2014 7:12am May 13, 2014 7:12am
Quoting Verve
{quote} nice, i like could you just confirm which ma, is is simple or exp thanks for the scalp strategy, will give it a whirl
You welcome. The beauty about scalping is when you scalp correctly you are in green almost right away, and you stay in green. When you scalp incorrectly you never even close in green (meaning your account never closes in green at the end of a candle close) Since we cut the EU scalp for a loss we have spent so far 12 mins straight in red. So clearly once you stopped out, had you taken the sell right away you would of been up ATM 8.7 pips
Keep your Pip-drawdown low. That is the key to using high equity + high lev
  • #897,226
  • May 13, 2014 7:12am May 13, 2014 7:12am
Quoting ScalpLikeMe
{quote} No it doesn't mean that. ATM means At the moment.
i just found out, tnx!
  • #897,227
  • May 13, 2014 7:15am May 13, 2014 7:15am
Quoting Verve
{quote} Interesting observation. I thought we were looking for a close below the signal bar (with arrow in image) Ill need to look at some previous examples, im not totally getting it yet {image}
Yes we were looking for a close under the arrow since all the candles after that entry were GREEN. once you have a red close, the first red candle, it simply has to engulf any green candle, as the trend is to the down side Say after enter the buy, if we would of had 10 straight green candle closes. If a red candle closes below the last green candle, then you have to respect the trend which is to the sell side.
Keep your Pip-drawdown low. That is the key to using high equity + high lev
  • #897,228
  • May 13, 2014 7:16am May 13, 2014 7:16am
Quoting ScalpLikeMe
{quote} The beauty about scalping is when you scalp correctly you are in green almost right away
Could we use martingale with this system?
This seems like a retracement strategy, you are looking for pullback, but then again you also suggested a sell
  • #897,229
  • May 13, 2014 7:17am May 13, 2014 7:17am
Quoting ScalpLikeMe
{quote} Yes we were looking for a close under the arrow since all the candles after that entry were GREEN. once you have a red close, the first red candle, it simply has to engulf any green candle, as the trend is to the down side Say after enter the buy, if we would of had 10 straight green candle closes. If a red candle closes below the last green candle, then you have to respect the trend which is to the sell side.
Super! thanks for the explanation, and do you use other majors or just fiber
  • #897,230
  • May 13, 2014 7:19am May 13, 2014 7:19am
I m buying on dips near 37 handle as against to many here
with stop 3668 i see potential of 60 pips here before further downfall
MMMYYYKKK
  • #897,231
  • May 13, 2014 7:19am May 13, 2014 7:19am
Quoting Verve
{quote} Interesting observation. I thought we were looking for a close below the signal bar (with arrow in image) Ill need to look at some previous examples, im not totally getting it yet {image}
One more thing. Recall before I posted the first chart. I mentioned that once we have a green candle engulf, that we would see a flash run to the low. We EU just created a new low once again. Now before we even enter a long this is what must occur.

1) Green candle closes on or above ma 10
2) A red candle must close after that green candle.
3) Then a green candle must engulf the red candle <--- At this point you enter a long.

Stop loss would

1) Once the green candle you entered is engulfed

or

2) Once any green candle after your entry is engulfed

That is how you scalp against the trend.
Keep your Pip-drawdown low. That is the key to using high equity + high lev
  • #897,232
  • May 13, 2014 7:21am May 13, 2014 7:21am
Quoting Verve
{quote} Could we use martingale with this system? This seems like a retracement strategy, you are looking for pullback, but then again you also suggested a sell
As a scalper you should have 0 bias. Which means if you close your buy, its because you think the price will drop, which of course means if you have 0 bias then you should take the sell right away. As I mentioned, had we taken the sell after the buy stop out we would be up 14.5 pips at the current moment.
Keep your Pip-drawdown low. That is the key to using high equity + high lev
  • #897,233
  • May 13, 2014 7:21am May 13, 2014 7:21am
We have divergence here folks, long entry
Attached Image
  • #897,234
  • May 13, 2014 7:22am May 13, 2014 7:22am
Quoting svetetow
{quote} i just found out, tnx!
Bundesbank and ECB managed to move the market w/o any news....any statement ending with "if needed" = BS....extent and speed of the move probably indicate that these levels were just too high...next level is 13682/70, we'll see. Risk of bounce from these levels is high
  • #897,235
  • May 13, 2014 7:26am May 13, 2014 7:26am
Quoting ScalpLikeMe
{quote} One more thing. Recall before I posted the first chart. I mentioned that once we have a green candle engulf, that we would see a flash run to the low. We EU just created a new low once again. Now before we even enter a long this is what must occur. 1) Green candle closes on or above ma 10 2) A red candle must close after that green candle. 3) Then a green candle must engulf the red candle <--- At this point you enter a long. Stop loss would 1) Once the green candle you entered is engulfed or 2) Once any green candle after your entry is engulfed...
Your a magician, simple and easy enough i got it... oh boy 5 mins till news, i have eur bias and xag long
  • #897,236
  • May 13, 2014 7:32am May 13, 2014 7:32am
Now you see that big long candle. That is a big time luck bull candle. In no way can you prepare for a move like that.
Keep your Pip-drawdown low. That is the key to using high equity + high lev
  • #897,237
  • May 13, 2014 7:33am May 13, 2014 7:33am
I see that a new Star has born

for the fall.
Don't be smart. Be rich.
  • #897,238
  • May 13, 2014 7:34am May 13, 2014 7:34am
Quoting maximinus
I see that a new Star has born
if only
  • #897,239
  • May 13, 2014 7:34am May 13, 2014 7:34am
want 3727 plz
  • #897,240
  • May 13, 2014 7:35am May 13, 2014 7:35am
Quoting Verve
{quote} Your a magician, simple and easy enough i got it... oh boy 5 mins till news, i have eur bias and xag long
Just back test what I have mentioned to you and you will see how accurate it is, also news changes the last trend on the 5m/15m chart. You can also see that that long candle hit the s3 pivot and has rejected off of it. Now we have to wait to see what happens. As of right now EU is still in sell, as a green candle has not closed above the last red candle which closed on or above the ma 10
Keep your Pip-drawdown low. That is the key to using high equity + high lev
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