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The U.S. Day Job Scalper

  • #141
  • Nov 24, 2014 6:20pm Nov 24, 2014 6:20pm
... and my second:

Attached Image


... buy at the low, exit at the high, sell at the high, exit at the low ... . Etc., etc., etc.
Fireworks are fun ... as long as you don't blow your fingers off.
  • #142
  • Nov 24, 2014 6:52pm Nov 24, 2014 6:52pm
I could virtually do this all night, but the wife wants the computer, so here is the last one for now:

Attached Image (click to enlarge)
Click to Enlarge Name: GBP:CAD Last.jpg Size: 185 KB


Right now the range is between 1.77259 and 1.77203. Not a huge range to work with, but if you trade it dynamically, it's kind of fun ... . Just don't get caught when and if it breaks out, because then you'll have to clean up that mess ... .

Happy trading!!
Fireworks are fun ... as long as you don't blow your fingers off.
  • #143
  • Nov 25, 2014 8:45am Nov 25, 2014 8:45am
I notice that GBP/CAD took quite a dive last night after that last scalp I had from the high of the range, so I'm glad I didn't enter another scalp long after my last short. Generally what I like to do is scalp in the direction of the larger time frame trend (in this case, lower). You're less likely to get caught ... . Naturally if you're trading dynamically and do get caught, you will want to bail out of scalp immediately ... .

In any event, the other scalp I set up last night before I had to go was a EUR/JPY short grid. The notion was to catch downward movement of EUR/JPY in the event that it rejected the previous day's high. If it moved through the high, the grid would not be hit (that's the notion anyways). The set-up turned out to be quite productive, but I caught two danglers at 146.40 (TP 146.30) and 146.30 (146.20) which I will have to deal with later:

Attached Image (click to enlarge)
Click to Enlarge Name: EUR:JPY Grid Scalp.jpg Size: 603 KB
Fireworks are fun ... as long as you don't blow your fingers off.
  • #144
  • Nov 25, 2014 4:54pm Nov 25, 2014 4:54pm
GBP/CAD scalping range currently between 1.76830 and 1.76760, which is what I'm going to concentrate on this evening for a few in-and-out's ... .

EUR/CAD between 1.40441 and 1.40400 by my reckoning ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #145
  • Nov 25, 2014 6:13pm Nov 25, 2014 6:13pm
GBP/CAD range change: Hi/Lo 1.76882/1.76828.
Fireworks are fun ... as long as you don't blow your fingers off.
  • #146
  • Nov 25, 2014 6:55pm Nov 25, 2014 6:55pm
Mmmm. Breaking out of range ... . Makes me thing I should have taken a long at the floor ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #147
  • Nov 25, 2014 7:50pm Nov 25, 2014 7:50pm
GBP/CAD (and EUR/CAD) never did find neat true ranges to use ... . And I missed the long bus ... . But there is always the short bus. For GBP/CAD, there is a 8/34 EMA cross in the making on the 1 min. (I switched to EMA over SMA; seems the exponential is a little bit more sensitive), but this would involve a short-term reversal from the run-up from 1.76771 ... . May be worth a few pips ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #148
  • Nov 25, 2014 8:02pm Nov 25, 2014 8:02pm
GBP/CAD 1 Min.: Broke little swing low at 1.76980 ... . See if gets any mo from here to the downside ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #149
  • Nov 25, 2014 8:04pm Nov 25, 2014 8:04pm
GBP/CAD: The Pivot Point is at 1.76894, which may find resistance, so there is not much pippage between here and there ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #150
  • Nov 25, 2014 8:06pm Nov 25, 2014 8:06pm
GBP/CAD short: Me personally, shooting for 1.768-ish ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #151
  • Nov 25, 2014 8:12pm Nov 25, 2014 8:12pm
Quoting ZebraSquirl
MT4 Screen Set-Up So, here's the way I've got the MT4 screen set up. It looks a bit busy, and you probably could cull out of a couple of what I would call the "non-Asian" pairs out of the mix to simplify the thing: {image} Since I'll be trading the Asian, I imagine my focus with be on AUD/JPY, AUD/NZD, AUD/USD, EUR/AUD, EUR/JPY, EUR/NZD, GBP/AUD, GBP/JPY, GBP/NZD, NZD/JPY, NZD/USD, and USD/JPY. I also anticipate avoiding trading in either GBP/JPY and GBP/NZD, since these pairs can be quite violent, and it is likely that stops will be easily blown...
Hey Zebra! Squirl!

My trading setup looks a lot like yours! Just wanted to say... LOL
Attached Image (click to enlarge)
Click to Enlarge Name: setup.jpg Size: 792 KB
Please check out my blog at https://from-zero-to-hero . net
  • #152
  • Nov 25, 2014 10:16pm Nov 25, 2014 10:16pm
Quoting smash1820
{quote} Hey Zebra! Squirl! My trading setup looks a lot like yours! Just wanted to say... LOL {image}
Awe ... (wait for it) ... some. I think it's better to have a smaller number of screens; that looks like it's just about perfect ... .

Gets me thinking about slapping on some indicators myself. I used to use Slow Stochastic and the Awesome Oscillator, but they tended to squeeze the chart (I thought) too much.
Fireworks are fun ... as long as you don't blow your fingers off.
  • #153
  • Nov 25, 2014 10:17pm Nov 25, 2014 10:17pm
A lot of time to wait for 3 pips on the net position, but, hey, it's scalping and you get what you get:

Attached Image (click to enlarge)
Click to Enlarge Name: GBP:CAD Scalp.jpg Size: 194 KB
Fireworks are fun ... as long as you don't blow your fingers off.
  • #154
  • Nov 25, 2014 10:36pm Nov 25, 2014 10:36pm
Quoting smash1820
{quote} Hey Zebra! Squirl! My trading setup looks a lot like yours! Just wanted to say... LOL {image}
Also, if you've got any scalping methodologies, feel free to share them here. I confess that I sometimes feel that I frankly don't know what the hell I'm doing on the smaller time frames. I'm used to more overarching themes that are obvious on 1H and 4H. I know everyone says that scalping is really not that much different; you're looking at the same candlesticks, support and resistance, and any moving averages and indicators that will assist you in making your trade decisions. What gets me kind of turned about is the fact that you may be trading on a 5 min. chart in a way that totally contradicts what's occurring on a more macro level. For instance, I just can't tweak my psyche to go EUR/USD long short-term because I've got EUR/USD short on my mind for longer-term set-ups.

I've also read virtually tons of variations on how different folks scalp using moving averages (like the "fingertrap"), indicators, "signal" candles, Camarilla pivot points; it's downright maddening ... . Maddening, I say!

I like "fingertrap," but it's really only good for momentum-based movement ... . Trading ranges (if you can find them) in quiet markets is great, especially if you can do so dynamically (both ways) ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #155
  • Nov 25, 2014 11:19pm Nov 25, 2014 11:19pm
Quoting ZebraSquirl
Awe ... (wait for it) ... some. I think it's better to have a smaller number of screens; that looks like it's just about perfect ... . Gets me thinking about slapping on some indicators myself. I used to use Slow Stochastic and the Awesome Oscillator, but they tended to squeeze the chart (I thought) too much.
If you add the indicators that you see on my charts, I can assure you -- you will NOT regret it.

PS: I used to use Awesome Oscillator too (it is one of the best... unless you know something better)... And I do know something better.

It is called ADX + Stoch.
Please check out my blog at https://from-zero-to-hero . net
  • #156
  • Nov 25, 2014 11:21pm Nov 25, 2014 11:21pm
Quoting ZebraSquirl
A lot of time to wait for 3 pips on the net position, but, hey, it's scalping and you get what you get: {image}
Please be aware of the fact that scalpers are subject to A LOT of unanticipated moves... that will be determined according to your broker.
Please check out my blog at https://from-zero-to-hero . net
  • #157
  • Nov 26, 2014 6:44am Nov 26, 2014 6:44am
Quoting smash1820
{quote} If you add the indicators that you see on my charts, I can assure you -- you will NOT regret it. PS: I used to use Awesome Oscillator too (it is one of the best... unless you know something better)... And I do know something better. It is called ADX + Stoch.
Thanks. I'll give those a whirl ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #158
  • Nov 26, 2014 6:55am Nov 26, 2014 6:55am
Quoting smash1820
{quote} Please be aware of the fact that scalpers are subject to A LOT of unanticipated moves... that will be determined according to your broker.
I have had several (understatement) WTF moments on the smaller time frames ... . My best explanation for these moves is that certain folks want certain candles to close in a certain way at certain times.

I generally try to do the entries and exits manually. Unless my broker can see my hand hovering over the mouse ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #159
  • Nov 26, 2014 6:00pm Nov 26, 2014 6:00pm
Tonight I'm basically going to keep an eye on GBP/JPY ... . It has come off highs of 186.10-ish earlier today and may be poised for a move lower, with the 1H 8/34 EMA's on the verge of cross over. The cross has already occurred on the 5 min., but I would be looking for follow-through down to 185.00, so I want to be patient and not jump in here if downward movement is going to be of particularly short duration. Currently the angle of descent from 186.10 to current levels is not the kind I'd like to see in a momentum-based play; steeper is better ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #160
  • Nov 26, 2014 6:09pm Nov 26, 2014 6:09pm
Just as an example of the kind of angle you're looking for, look at the blue rectangular area highlighting an uptrend in GBP/JPY:

Attached Image (click to enlarge)
Click to Enlarge Name: GBP:JPY 8:34 Separation.jpg Size: 153 KB


In particular, notice the separation between the EMA's ... . That's the kind of momentum you want to have for a fingertrap set-up. Unfortunately, if you look at the downtrend leading up to current price, you'll notice how close the EMA's are. There is downward movement, yes, but there isn't a great deal of momentum behind it.
Fireworks are fun ... as long as you don't blow your fingers off.
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