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PVSRA Scalping with Cigarguy

  • #2,281
  • Mar 28, 2016 1:49pm Mar 28, 2016 1:49pm
Hi Cigarguy, hi guys,
thank you for sharing your knowledge and your experience. I see this thread growing up, and giving some golden advice, especially in the latest posts
I think it's the best scalping thread i've read

I'm trying to learn volumes properly, and i hope to put it in my trading arsenal, but i'm still struggling with it.
I would like to understand the meaning of bar colors in depth, (red/green etc.) because i sometimes see very similar bars but not always same colors.
i hope my attached image will explain my doubt.
Thank you in advance
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Ciao. Luca
  • #2,282
  • Edited 5:52pm Mar 28, 2016 2:34pm | Edited 5:52pm
Quoting Lio46
Hi Cigarguy, hi guys, thank you for sharing your knowledge and your experience. I see this thread growing up, and giving some golden advice, especially in the latest posts I think it's the best scalping thread i've read I'm trying to learn volumes properly, and i hope to put it in my trading arsenal, but i'm still struggling with it. I would like to understand the meaning of bar colors in depth, (red/green etc.) because i sometimes see very similar bars but not always same colors. i hope my attached image will explain my doubt....
Lio46,

Thank you for your question and nice comment and I see that you were visiting TAH's PVSRA thread in November 2010, with the below questions. I ask that you review a quote from the originator of the PVSRA system TAH as he was the Master Mind behind this system and coder (along with many others) that morphed the old Sonic R system into the present day PVSRA system. I personally, traded this system on both threads since their inception and then merely adapted my scalping style with the PVSRA system. As you know as a participant of the PVSRA thread, there is much study and learning required for a trader to become proficient with this trading style. With that said I can offer a quote from TAH regarding PVA and hope that helps but if you require additional information you must continue to read and examine the multitudes of charts and information available.....Good Luck To You Sir as I have highlighted the comments that I feel mostly answer your questions..........

Regards,
Cigarguy

Lio46, your Comment and only post to the PVSRA thread and then you moved on to other threads. Sir, it takes study and much dedication to learn PVSRA I appreciate your kind comment but you must do the work. As posted in Post #1, I did not start this thread as a PVSRA training thread and made references to the original PVSRA thread for further study as needed at Post #1 with provided links. Most who have joined here, either came with PVSRA trading experience and wished to join our scalping community or if new to PVSRA, made a commitment to begin the learning journey tying information from both threads into a PVSRA textbook.

Your comment below from the PVSRA thread November 2010;

Hi Traderathome,

im reading and studying your thread and i want to congratulate with you for you great disposability helping and sharing with others, you are doing an awesome job.
I can summarize my trading method in this way:
1- I wait for a BreakOut of a SR of a deep swing, with the trend
2- I wait for the price retracing and ritesting SR to enter in the direction of BO
3- I cut my loss if price closes below/above the SR in a lower timeframe, see the attached chart
My concern with this method I use is that, after the price retraces to my SR level, sometimes price strongly breaks through my SR level and the transition from resistance to support and vice versa does not happen, but studying your method and PSVRA I think that its possible to clarify and solve this point, so I can avoid some losses and increase my winrate. I hope my ideas are right, can you help me to clarify if Im wrong with these concepts:
1- May I use volumes to understand if MM are present in a BreakOut and if they are going to continue that move?
2- Is there a way to understand if a BreakOut is a fake move aka stophunt using volumes?
3- Do you use a timeframe in particular to understand how MM move? Which?
Thank you in advance

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A comment by TAH, November 2010;


"A PVSRA Colorful Reminder

I have always said the key thing to note about PVA events is whether price seems to be favoring higher or lower prices when the PVA event occurs.

PVA events tend to appear when price swings either high, or low. If swinging high, a PVA event can appear for bars moving price up towards the area of highs that will be obtained by a coming bar. It can appear on the coming bar that puts in a significant high. And it can appear on a later bar that involves price moving down from the area of high prices established. When we see one of more of these bars we should look to see where the highest price is made. Is it made above a key SR level like a whole or a half number? If not, is it nevertheless made above a quarter Level, or historically significant SR level. Is it to within some historically significant consolidation area? Any of these occurrences is a PVSRA indication of bears.

You understand, of course, the same goes for the reverse where PVA events appear for bars extending to lows, putting in the actual low, later coming back up from the area of the lows,.....and the rest. And such would result in a PVSRA indication of bulls.

From the beginnings of PVSRA I have said PVA events are important not for their particular color, but for what price seems to be doing when they occur! To reinforce this, take a look at the attached M30 chart for USDCAD, showing only the climax PVA events. It is obvious that on NFP Friday last week the MMs manipulated price back above the half Level to sucker in longs and to stop hunt shorts, both to get liquidity to fill their own short orders. And then they manipulated the price downwards. This is clearly a bearish event. And, while price has not yet made lower lows and might be pushed back up again, there is now increased probability this will become more bearish. And yet, starting with the LS on Friday, do you see even one RED bar? Not on this M30 chart you don't! You will find both GREEN and RED bars on your M15 chart, however. And this should confirm to you what I have always said,.....that it is not the color of the bar that denotes bulls vs bears, it is what the price is doing during the PVA event..

Think about this. Whether a candle appears on your chart as a bull or as a bear candle is simply an "accident of birth and death" of the candle. Sometimes a series of "accidents" that are consistent in both bull or bear coloring and price results can be meaningful. However, when there is high volatility and candles with large ranges, the MMs can be using up all liquidity, both above and below, primarily to get either long or short positions built. It is immaterial where such high range candles open and close. That is just an "accident of birth and death" of the wide swing! It is important to not let the PVA color of PVA events taint the clue. "

Please keep all the above in mind.

PVSRA and Patience,
tah

There is a caveat to the above comment; This PVA consideration was somewhat modified after this 2010 posting when I begin to drop down to M1 and recognize at this lower T/F the candles and volume colors did in fact matter and provide great scalping opportunities by observing the tick volume in relation to price when all other PVSRA conditions in regard to S & R, key levels and etc., are met. TAH primarily traded from M15 and higher T/F's, but did recognize this lower T/F opportunity as a reliable method to scalp PVSRA. Much later in the PVSRA thread, a slow transition was made from the higher T/F trading into M1 & M5 scalping. After TAH left FF, I continued to scalp PVSRA there and then later relocated the PVSRA scalping system to this current thread.

Cigarguy
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Keep It Simple
  • #2,283
  • Mar 28, 2016 3:30pm Mar 28, 2016 3:30pm
Thank you for your answer Cigarguy, very appreciated.
That's for sure, i have to do my work
Cheers
Ciao. Luca
  • #2,284
  • Mar 28, 2016 3:32pm Mar 28, 2016 3:32pm
Quoting Lio46
Thank you for your answer Cigarguy, very appreciated. That's for sure, i have to do my work Cheers
Lio46,

Yes Sir, I hope you do and you are most welcomed into our PVSRA scalping community.....
Keep It Simple
  • #2,285
  • Mar 28, 2016 8:39pm Mar 28, 2016 8:39pm
Quoting cigarguy
{quote} ozziedave, Excellent question but to give it the answer that it deserves will require a bit of history and a prolific explanation. I am not a statistical guy, so I can't throw out a bunch of numbers or percentages in answer to your R/R question as I am sure many here can. What I have learned since I took the successful old PVSRA system which was traded primarily on M15 and morphed it into a M1\M5 scalping system that has proven to give far more winning trades then losers. Another unexpected benefit was my trading became much more relaxed...
Well said my friend
  • #2,286
  • Mar 28, 2016 8:57pm Mar 28, 2016 8:57pm
Asian session +10 pips. Bounce off 200 ema and 85.50 level. Jumped in a little late and got out a little early but trying to focus on FIFO

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  • #2,287
  • Mar 28, 2016 10:21pm Mar 28, 2016 10:21pm
So thought I had a nice counter trade going but I got a bit impatient.

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  • #2,288
  • Mar 28, 2016 11:22pm Mar 28, 2016 11:22pm
usdjpy +9.5. Nice little uptrend, bounce off of the 200 ema and the dragon. 18 winning trades in a row since using only PVSRA and scalping. I've found my home and final resting place. Achieving 5-10% daily has been nothing short of amazing, quick and pretty stress free. Thank you again Cigarguy, TAH and everyone else who has contributed to make this what it is. Cheers everyone!!!

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  • #2,289
  • Edited 8:40am Mar 29, 2016 6:43am | Edited 8:40am
Quoting Benihana
usdjpy +9.5. Nice little uptrend, bounce off of the 200 ema and the dragon. 18 winning trades in a row since using only PVSRA and scalping. I've found my home and final resting place. Achieving 5-10% daily has been nothing short of amazing, quick and pretty stress free. Thank you again Cigarguy, TAH and everyone else who has contributed to make this what it is. Cheers everyone!!! {image}
Benihana,

Nice trade as you have a good eye for observing, this extremely visual scalping system and stalking for those many profitable PVSRA entries. I see that you primarily trade from the M5 T/F eliminating the M1 noise. Are you viewing M5 for the short term trend and entering on the M5 or dropping down to M1 for PVSRA entries?.............. Just curious because what ever method you are doing you are doing well and maybe you could share here with others who are maybe struggling to see those entries.....
Keep It Simple
  • #2,290
  • Mar 29, 2016 7:32am Mar 29, 2016 7:32am
GU M5 PVSRA confirmation M1 for entry +26 Explanations on charts....

For scalpers new to PVSRA, I posted both charts to show a simple method to begin and help understand PVSRA and find high probability entries. In this case, I observed the M5 and waited for a retrace to see if the 50 or 200 ema would hold as support and saw that the 50 did. I then dropped down to M1 to confirm and the support bounce in this case was the 200 ema for my entry. So you can see the 2 charts side by side and notice how M5 the 50 ema held and on M1 the 200 ema held. Hope this helps....
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Keep It Simple
  • #2,291
  • Mar 29, 2016 8:05am Mar 29, 2016 8:05am
EURUSD +1.2 then +3.2
Explanations on chart.
Im not sure how long i can cope with my RR ratio.
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  • #2,292
  • Mar 29, 2016 8:36am Mar 29, 2016 8:36am
Quoting Roose
EURUSD +1.2 then +3.2 Explanations on chart. Im not sure how long i can cope with my RR ratio. {image} {image}
Roose,

How so....

Post #2240

Quote
We as traders/scalpers, to become or stay successful, must have patience to watch and stalk for high probability PVSRA trades for a quick 5 +/- pips. Since my implementation of the PVSRA scalping system my losses have been very rare and seldom. When I do incur losses, it is due to "my not trading with the rules", it is no system fault. Scalping as we do FIFO risk and reward are almost non-existent. We should not only stalk for the PVSRA entry but once entered watch each trade like a hawk and if it does turn against us quickly close. I have entered...
Keep It Simple
  • #2,293
  • Mar 29, 2016 8:49am Mar 29, 2016 8:49am
Quoting cigarguy
{quote} Roose, How so.... Post #2240 {quote}
Thanks... How the heck did i miss that post!. Most times i get shakey and get out with 2 pips, its a work in progress.
  • #2,294
  • Edited 9:20am Mar 29, 2016 8:56am | Edited 9:20am
Quoting Roose
{quote} Thanks... How the heck did i miss that post!. Most times i get shakey and get out with 2 pips, its a work in progress.
Roose,

Just relax my Friend. From your profile, I see your a Student and apart from your main studies your getting Tuition, and Student Loan FREE lessons here and doing good..... When I was your age the computer had not been invented yet and look at you trading FX with the Big Boys and Banks....
Keep It Simple
  • #2,295
  • Mar 29, 2016 9:31am Mar 29, 2016 9:31am
Quoting cigarguy
{quote} Roose, Just relax my Friend. From your profile, I see your a Student and apart from your main studies your getting Tuition, and Student Loan FREE lessons here and doing good..... When I was your age the computer had not been invented yet and look at you trading FX with the Big Boys and Banks....
Your the funniest guy on FF
  • #2,296
  • Mar 29, 2016 9:36am Mar 29, 2016 9:36am
GU M15 +29 This trade took much longer then I thought it would and quickly retraced but I stayed with it do to USD weakness and H1 down to M1 all above 200 ema in an uptrend.....
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Keep It Simple
  • #2,297
  • Mar 29, 2016 9:41am Mar 29, 2016 9:41am
Quoting Roose
{quote} Your the funniest guy on FF
Roose,

It's true, that at your age you have the opportunity to learn FX and quire a skill to become very successful. When I was your age, we were lagging dimes against a wall to make some extra money.....keep up the good work and have patience....
Keep It Simple
  • #2,298
  • Mar 29, 2016 9:47am Mar 29, 2016 9:47am
Quoting cigarguy
GU M15 +29 This trade took much longer then I thought it would and quickly retraced but I stayed with it do to USD weakness and H1 down to M1 all above 200 ema in an uptrend..... {image}
Nice Trade!

Is that an indicator you're using on the side of the chart showing the 3 other TF's? If so, do you mind posting it, as it looks very helpful.

Thanks
Vape
  • #2,299
  • Mar 29, 2016 9:51am Mar 29, 2016 9:51am
Quoting cigarguy
UJ M1 Scalp +6 with reduced lots again for same reasons. {image}
can you share this template ..thanks
  • #2,300
  • Mar 29, 2016 9:53am Mar 29, 2016 9:53am
EU M1 +5pips FIFO. Explaination on chart.

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