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Dynamic Scalp System

  • #2,261
  • Dec 19, 2014 3:25am Dec 19, 2014 3:25am
Quoting sam30
UJ plan for short IF strong seller there.... Will see PA @ 119.50 area to decide more.... {image}
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  • #2,262
  • Dec 19, 2014 3:32am Dec 19, 2014 3:32am
Quoting Patron
{quote} I love those trades ... ¿Fibonacci projection, exit? What I point out to your readers, if they are novices ... Left 17 pips for the day. That will make your already without looking at the chart. The truth is that I get very happy when I see that the trader knows what to do and does it.
Fibonacci projection, yes. I really fell in love with them this week.

Thanks Patron. I'm trying to learn as quick as I can
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  • #2,263
  • Dec 19, 2014 4:29am Dec 19, 2014 4:29am
Someone asked me via PM, what does the xADR_0.2renko. But I will answer through the thread, if someone else does not know and are interested.

It is an indicator, and should be treated as such. This indicator measures different averages ADR (Average Daily Range).
Specifically you will see that measures the average of the last 20 days the last 10 days, and the last five days.

Then you'll see another averages of these averages labeling com "ADR".
It also tells you the ADR reports yesterday, "Y". Just like today, "T".

And finally we see a "RmUp" and "RmDn" which are the averages calculated, if the pair rises, or if the pair falls.

What good to know this? Well it can be used in several ways. The main use is to know, how much pair range used on what is expected of it. What what can be useful to an intraday trader, to make the decision to open positions in it, or not. If the pair has done much travel, either upward, either downwards, then RmUp or RmDn have changed color (red), warning us maybe not worth doing trading on the pair, at the time.

Another use is to see the volatility of pair over time, if you want to interpret it.

In short, it is an indicator that measures the daily range of a pair and helps you to estimate how many pips will move daily, and how many pips already moved. This information will use it to know if it's worth opening positions or not that day.

However, the market does not know that this indicator exists and does what he wants. The trader interprets it, but knowing that they are only averages, and do not force the market to anything.
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  • #2,264
  • Dec 19, 2014 4:57am Dec 19, 2014 4:57am
EURUSD H1

It is reaching near the last minimum. It is important to monitor if it makes a new low or if rotated.
I, in principle expect the pair to turn upward, but until we do, we can not rule anything out.
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  • #2,265
  • Dec 19, 2014 5:21am Dec 19, 2014 5:21am
UJ H1
Ascending wedge - possible reversal after breakout.
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  • #2,266
  • Dec 19, 2014 5:54am Dec 19, 2014 5:54am
Quoting jstmzplsz
UJ H1 Ascending wedge - possible reversal after breakout. {image}
tHINK SE SAME
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  • #2,267
  • Dec 19, 2014 6:04am Dec 19, 2014 6:04am
Quoting Patron
{quote} tHINK SE SAME
Check GJ, I think there might be the same situation.
  • #2,268
  • Dec 19, 2014 6:06am Dec 19, 2014 6:06am
Quoting jstmzplsz
{quote} Check GJ, I think there might be the same situation.
i AM SHORT ALREADY.
Whith few scalps on it.
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  • #2,269
  • Dec 19, 2014 6:07am Dec 19, 2014 6:07am
Quoting Patron
{quote} i AM SHORT ALREADY. Whith few scalps on it.
Same, but with one only
  • #2,270
  • Dec 19, 2014 6:08am Dec 19, 2014 6:08am
Quoting Patron
{quote} i AM SHORT ALREADY. Whith few scalps on it.
GJ M5

When breaking the ema233 well (+ Price action), if everything else is fine, I will take more serious short.

nOW i WORKS at M1
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  • #2,271
  • Dec 19, 2014 6:12am Dec 19, 2014 6:12am
Quoting Patron
{quote} GJ M5 When breaking the ema233 well (+ Price action), if everything else is fine, I will take more serious short. nOW i WORKS at M1
Similar whith EURUSD, but inverted.
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  • #2,272
  • Dec 19, 2014 8:02am Dec 19, 2014 8:02am
GJ +112. First quick scalp. Then another and I let it run, then added another position.
Quite big SLs, so I was trading with smaller lots.
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  • #2,273
  • Edited 9:53am Dec 19, 2014 9:26am | Edited 9:53am
Quoting jstmzplsz
GJ +112. First quick scalp. Then another and I let it run, then added another position. Quite big SLs, so I was trading with smaller lots. {image}


By the power vested in me by my experience, I name you PROFESSIONAL TRADER!!

You have cloned my style, and today we've done better than me, who have missed me reflexes with GJ, obtaining half of pips than you.

If someone shows me your trades in the future and asks me "Do you know who has done this trades?". Would answer without hesitation: "I made them, that's my style!"

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  • #2,274
  • Dec 19, 2014 9:54am Dec 19, 2014 9:54am
UJ...

I have perfect plan on UJ (entry) but not exit....
Set heavy short...close some on profit
but some floating loss now....will play hedge if 119.52 break. On weekly candle say more UP if close above 119.00 level today...will see PA again @ 119.50 area

Plan for the trade is : 119.45 will down to 118.70 area or 118.50 area for 100 pips (daily range)
But price "play" back above 119.40 area...so close some for profit and let some floating....
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While knowledge speak up, the wisdom listen down
  • #2,275
  • Dec 19, 2014 9:57am Dec 19, 2014 9:57am
Quoting Patron
{quote} By the power vested in me by my experience, I name you PROFESSIONAL TRADER!! You have cloned my style, and today we've done better than I, who have missed me reflexes with GJ, obtaining half of pips than you. If someone shows me your trades in the future and asks me "Do you know who has done this trades?". Would answer without hesitation: "I made them, that's my style!"

Thank you Patron! It means a lot to me

The truth is that this system suits me mentally. It's super simple,visual and effective. And I'm talking here about clear DSS (THANK YOU SAM30!), and you Patron, you showed me the path I should go, showed my tools and how to use them in particular situations. Thanks to you I see logic in the market, in price movements. That's why my trades looks similar to yours, because I consider you as my mentor.

This system and tools, together, are working for me as a whole amazingly well.
And I will be learning from you both as long as I can, because I know that it's still a lot to learn.

Ones again, I sincerely thank you both!
  • #2,276
  • Dec 19, 2014 10:07am Dec 19, 2014 10:07am
Quoting sam30
UJ... I have perfect plan on UJ (entry) but not exit.... Set heavy short...close some on profit but some floating loss now....will play hedge if 119.52 break. On weekly candle say more UP if close above 119.00 level today...will see PA again @ 119.50 area Plan for the trade is : 119.45 will down to 118.70 area or 118.50 area for 100 pips (daily range) But price "play" back above 119.40 area...so close some for profit and let some floating.... {image}
In my opinion, it is easy to back down to around 118,000 to start. The problem is how to manage the meantime, the pair.
Let's see if a double top is formed to exploit it.
But it is only an opinion, while not confirmed.
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  • #2,277
  • Dec 19, 2014 10:10am Dec 19, 2014 10:10am
The euro has made a new low. That disrupts my previous analysis, and confirms the theory of contrary opinion.
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  • #2,278
  • Dec 19, 2014 10:21am Dec 19, 2014 10:21am
Quoting jstmzplsz
{quote} Thank you Patron! It means a lot to me The truth is that this system suits me mentally. It's super simple,visual and effective. And I'm talking here about clear DSS (THANK YOU SAM30!), and you Patron, you showed me the path I should go, showed my tools and how to use them in particular situations. Thanks to you I see logic in the market, in price movements. That's why my trades looks similar to yours, because I consider you as my mentor. This system and tools, together, are working for me as a whole amazingly well. And I will be...
How long have you been trading, if not indiscretion?
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  • #2,279
  • Dec 19, 2014 10:33am Dec 19, 2014 10:33am
I thought that I was trading consciously, with systems (many), from October 2011.

Trading consciously with system and tools for maybe three months.
  • #2,280
  • Dec 19, 2014 10:51am Dec 19, 2014 10:51am
In fact, I was ready to give up. Glad I found this thread.
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