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Dynamic Scalp System

  • #2,361
  • Jan 5, 2015 9:17am Jan 5, 2015 9:17am
Quoting sam30
UJ comment... Based level and PA analysis : two times rejected to break 120 level so far....seem want to move higher but shy as this is still beginning of the week.... So, the plan is waiting PA around 120 level or around Pivot level @ 120.24 area again with SL below 120 level with target 121 or above and place pending order (buy) above every Resistance area such as 120.70 121.00 expect for breakout. Plan B: short when break 120 level with SL @ pivot(S turning R possibility)
UJ today....system work very well...covered almost all potential movement with clear SL as well. Indeed i have long bias but anticipating plan work to respect market as H1 forming weakness(fail to break more resistance).

In big picture by break 120 level again, seem market dont wanna more retail traders to follow long by clearing them (just speculative thought)....

daily range seem to have achieve, so better out now and take a rest...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: UJplanAB.png Size: 34 KB
Click to Enlarge Name: USDJPYH1dss.png Size: 37 KB
While knowledge speak up, the wisdom listen down
  • #2,362
  • Jan 5, 2015 10:39am Jan 5, 2015 10:39am
Today quite hard day for me.
As Sam30, UJ long was taken out on BE.
And till now I have two open shorts on EU, will see how it goes.
  • #2,363
  • Jan 6, 2015 12:36am Jan 6, 2015 12:36am
UJ

What i have done to "make colorful" DSS system to easy seeing @ a first sight (its work for me ) and how PA analysis form higher TF help very much.

UJ based daily PA forming engulf (bear candle yesterday) so big posibility to more down as long as last low of yesterday hold(@119.41).

As much more on scalp system, DSS set up confirmed with continuous HL-HL formation (supported by All indicator+ rule).... Very clear SL, entry and when to close profit OR when to close "small losses"

The rest of the days/week i will just enjoy this....

Regards
Attached Image (click to enlarge)
Click to Enlarge Name: UJ next level setup.png Size: 35 KB
While knowledge speak up, the wisdom listen down
  • #2,364
  • Edited 1:23am Jan 6, 2015 1:09am | Edited 1:23am
GBPJPY M5

Follow the M5 trend
Big candle breaks SUPPORT, with good volume relative.
Attached Image (click to enlarge)
Click to Enlarge Name: gjm5trendbreakresis34.PNG Size: 106 KB

GBPJPY H4
Attached Image (click to enlarge)
Click to Enlarge Name: gjh4.PNG Size: 92 KB
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  • #2,365
  • Jan 6, 2015 1:15am Jan 6, 2015 1:15am
Quoting sam30
UJ What i have done to "make colorful" DSS system to easy seeing @ a first sight (its work for me ) and how PA analysis form higher TF help very much. UJ based daily PA forming engulf (bear candle yesterday) so big posibility to more down as long as last low of yesterday hold(@119.41). As much more on scalp system, DSS set up confirmed with continuous HL-HL formation (supported by All indicator+ rule).... Very clear SL, entry and when to close profit OR when to close "small losses" The rest of the days/week i will just enjoy this.... Regards...
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  • #2,366
  • Jan 6, 2015 2:51am Jan 6, 2015 2:51am
Quoting Patron
GBPJPY M5 Follow the M5 trend Big candle breaks SUPPORT, with good volume relative. {image} GBPJPY H4 {image}
GBPJPY M1

Re-entry short

Trend intraday at London session.
London Breakdown (re-entry).

Exit because probable volumen stop, and got daily quota.
Attached Image (click to enlarge)
Click to Enlarge Name: gjreentryshort37.PNG Size: 103 KB
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  • #2,367
  • Jan 6, 2015 2:54am Jan 6, 2015 2:54am
Quoting Patron
{quote} GBPJPY M1 Re-entry short Trend intraday at London session. London Breakdown (re-entry). {image}
  • #2,368
  • Jan 6, 2015 2:57am Jan 6, 2015 2:57am
Quoting jstmzplsz
{quote}
Thanks friend. Did you get the rhythm of work after vacation?
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  • #2,369
  • Jan 6, 2015 3:21am Jan 6, 2015 3:21am
Quoting Patron
{quote} Thanks friend. Did you get the rhythm of work after vacation?
I got a little problem with it. Is not that I'm lazy or something, but I'm ill for over a week. But it's getting better
I hope that the rhythm will come to me soon, and I see that you rock right from the beginning
I've read a book by J.J. Murphy and I guess you've read it too. Am I right? Plenty of informations similar to your trading style
  • #2,370
  • Jan 6, 2015 3:40am Jan 6, 2015 3:40am
It looks very small
+33
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  • #2,371
  • Jan 6, 2015 3:44am Jan 6, 2015 3:44am
Quoting jstmzplsz
{quote} I got a little problem with it. Is not that I'm lazy or something, but I'm ill for over a week. But it's getting better I hope that the rhythm will come to me soon, and I see that you rock right from the beginning I've read a book by J.J. Murphy and I guess you've read it too. Am I right? Plenty of informations similar to your trading style
It is a great book. It was one of the first books I read when I started this business.
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  • #2,372
  • Jan 6, 2015 3:44am Jan 6, 2015 3:44am
Quoting jstmzplsz
It looks very small +33 {image}
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  • #2,373
  • Jan 6, 2015 3:51am Jan 6, 2015 3:51am
Quoting Patron
{quote} It is a great book. It was one of the first books I read when I started this business.
Three years ago I was writing thesis based on this book. Shame that I forgot about it then..

If you know more books like this one I will be very grateful if you share titles
  • #2,374
  • Edited 4:50am Jan 6, 2015 4:21am | Edited 4:50am
Quoting jstmzplsz
{quote} Three years ago I was writing thesis based on this book. Shame that I forgot about it then.. If you know more books like this one I will be very grateful if you share titles
Most of the books that I have spoken of the technical side of the market. Many are repeated. Some hint at the psychological aspect of trader.

Technically I have concluded that learning is easy and limited, for practical trading.

And psychologically I have my own Holy Grail, which is to work every day on stop loss, and respect them as if my life depended on it.
The reason is very simple. I know there are opportunities to win every day, and I'll win more times than I'd lose. Therefore, it is best to accept the inevitable small losses, or errors.

Anyway some time ago I read a couple of books by Marcel Link, and, at least, are motivators. Maybe reread.
I leave you here so you throw them out when you can. For my part I will do the same.

But the main work of the trader is to know yourself thoroughly. Knowing your weaknesses, your strengths, fears, greed, and continually work on that aspect, which is beneficial not only for trading, but to all aspects of life.
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  • #2,375
  • Jan 6, 2015 4:24am Jan 6, 2015 4:24am
Quoting Patron
{quote}
Thanks, Mate

anyway on UJ big picture seem sign of deep correction might be happen.
UJ we have below all EMA(34,89,233) from m1 to H4. Nearest dynamic resistance H1 @ 119.46(right now) and dynamic support Daily on 118.16 area (need to break 118,63 first)...so might be play range for around 1-2 hours before decide the way.

GJ play similar
While knowledge speak up, the wisdom listen down
  • #2,376
  • Jan 6, 2015 4:34am Jan 6, 2015 4:34am
Quoting Patron
{quote} Most of the books that I have spoken of the technical side of the market. Many are repeated. Some hint at the psychological aspect of trader. Technically I have concluded that learning is easy and limited, for practical trading. And psychologically I have my own Holy Grail, which is to work every day on stop loss, and respect them as if my life depended on it. The reason is very simple. I know there are opportunities to win every day, and I'll win more times than I'd lose. Therefore, it is best to accept the inevitable small losses, or errors....

Thanks a lot, my friend
  • #2,377
  • Jan 6, 2015 4:41am Jan 6, 2015 4:41am
Quoting sam30
{quote} Thanks, Mate anyway on UJ big picture seem sign of deep correction might be happen. UJ we have below all EMA(34,89,233) from m1 to H4. Nearest dynamic resistance H1 @ 119.46(right now) and dynamic support Daily on 118.16 area (need to break 118,63 first)...so might be play range for around 1-2 hours before decide the way. GJ play similar
It is very likely that you're right. We will see that type of correction is drawn, because at the moment, is not at all clear. ¿Triangle, flag, complex?
If we are in correction, we can rule out (Big Picture) zigzag only.
In addition, each wave of correction, especially B. wave can have their own complex subwaves.
So, as usual; wave to wave; system; stop loss; and to work with joy.

I see nothing clear, yet, at the Big Picture

USDJPY Daily
Attached Image (click to enlarge)
Click to Enlarge Name: uj daily.PNG Size: 74 KB
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  • #2,378
  • Jan 6, 2015 4:43am Jan 6, 2015 4:43am
Quoting sam30
{quote} Thanks, Mate anyway on UJ big picture seem sign of deep correction might be happen. UJ we have below all EMA(34,89,233) from m1 to H4. Nearest dynamic resistance H1 @ 119.46(right now) and dynamic support Daily on 118.16 area (need to break 118,63 first)...so might be play range for around 1-2 hours before decide the way. GJ play similar
UJ pictures....(to illustrated what i thought)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDJPYH1RR.png Size: 28 KB
Click to Enlarge Name: UJdailySS.png Size: 24 KB
While knowledge speak up, the wisdom listen down
  • #2,379
  • Jan 6, 2015 4:46am Jan 6, 2015 4:46am
UJ
My two cents
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 69 KB
  • #2,380
  • Jan 6, 2015 4:46am Jan 6, 2015 4:46am
I do not know if it is allowed to upload these kinds of books here. I had not thought of. So if you have downloaded, I will delete them.
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