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PVSRA Scalping with Cigarguy

  • #2,541
  • Apr 13, 2016 4:28am Apr 13, 2016 4:28am
UJ + 4.0 pips
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  • #2,542
  • Apr 13, 2016 4:32am Apr 13, 2016 4:32am
Done for today. As you may see today some of my trades went deep into DD before reaching profit. 2 times my SL of 20 pips was nearly reached.

What did I learn today?
Wait for retraces even if it looks like a perfect opportunity / high momentum.
Be careful around areas of confluence (natural S/R, DO & 50+ 200 EMA.

Comments are highly appreciated.
  • #2,543
  • Apr 13, 2016 4:35am Apr 13, 2016 4:35am
Quoting LinFX
{quote} Hey CigarGuy, can you tell me what you mean with +150 and what is that @50? I don't understand most of your numbering. Perhaps I've missed something between the line... Sorry if it's a noob question.
That means that he traded with 50 lots and exited at a profit of 3 pips. 3 pips * 50 lots = 150 pips. Did you read the introduction of the PVSRA thread? If not, please do your homework.
  • #2,544
  • Apr 13, 2016 4:38am Apr 13, 2016 4:38am
Nice scalps
"Men Who Can Both Be Right & Sit Tight Are Uncommon" ~ Jesse Livermore
  • #2,545
  • Apr 13, 2016 5:14am Apr 13, 2016 5:14am
Nice thread CigarGuy which is also professionally run and supported by all participants 👍
  • #2,546
  • Apr 13, 2016 5:14am Apr 13, 2016 5:14am
Quoting Sniper1310
{quote} That means that he traded with 50 lots and exited at a profit of 3 pips. 3 pips * 50 lots = 150 pips. Did you read the introduction of the PVSRA thread? If not, please do your homework.
Sniper1310,

Thanks and great trades this AM as usual ...
Keep It Simple
  • #2,547
  • Apr 13, 2016 5:21am Apr 13, 2016 5:21am
Quoting Sniper1310
Done for today. As you may see today some of my trades went deep into DD before reaching profit. 2 times my SL of 20 pips was nearly reached. What did I learn today? Wait for retraces even if it looks like a perfect opportunity / high momentum. Be careful around areas of confluence (natural S/R, DO & 50+ 200 EMA. Comments are highly appreciated.
Hi Sniper, I was going to pose the question regarding your stops a little earlier but had other things to do. When I returned I saw that you answered my question which was the the amount of heat you were willing to accept.
Forgive me, but the R/R seems a little skewed. Not passing judgement but just making an observation.
Regards
  • #2,548
  • Apr 13, 2016 5:31am Apr 13, 2016 5:31am
Quoting HitTheBid
{quote} Hi Sniper, I was going to pose the question regarding your stops a little earlier but had other things to do. When I returned I saw that you answered my question which was the the amount of heat you were willing to accept. Forgive me, but the R/R seems a little skewed. Not passing judgement but just making an observation. Regards
Dont want to argue about R/R ratio. In my humble opinion the traditional R/R considerations do not make sense in scalping but this are only my 2 cents. I know scalpers who trade with a SL of 35 pips which wouldnt fit my personality.

Every trader must find his settings and check them from time to time as markets change constantly.
  • #2,549
  • Apr 13, 2016 5:36am Apr 13, 2016 5:36am
Quoting robmagario
{quote} This one was risky as you are trending against the trend. As for the conditions for entering this trade, apart from volume divergence, did you also consider the currency strength indicator on the right, the one that says JPY 5.4 and USD 5.1 ?
robmagario,

Yes it was risky and all conditions are always considered but at times many hours of screen time aka experience kicks in while observing PA and you get that "difficult to explain gut feeling" and make the trade. Sometimes good and sometimes bad as against all rules but no indicators can predict how the MM's are going to run price but they sometimes offer hidden clues only to be recognized from experience.

This is why I suggest to traders, especially those new to FX, to pick only a couple of currencies and watch and stalk their movement looking for clues giving insight to what the MM's aka Big Money are up to with their sneaky PA manipulation.....

As retail traders, we need every edge trading against the Big Boys and IMO experience always prevails.
Keep It Simple
  • #2,550
  • Apr 13, 2016 5:38am Apr 13, 2016 5:38am
Quoting HitTheBid
Nice thread CigarGuy which is also professionally run and supported by all participants 👍
HitTheBid,

Welcome and thanks for the nice comment....
Keep It Simple
  • #2,551
  • Apr 13, 2016 5:38am Apr 13, 2016 5:38am
Quoting Sniper1310
{quote} Dont want to argue about R/R ratio. In my humble opinion the traditional R/R considerations does not make sense in scalping but this are only my 2 cents. I know scalpers who trade with a SL of 35 pips which wouldnt fit my personality. Every trader must find his settings and check them from time to time as markets change constantly.
Thank you for the reply. No need to argue at all. They are your trades and what works for you works for you.
I'm reading through this thread and hoping to put the kindly presented information/experiences into action.
Nice trading...
  • #2,552
  • Apr 13, 2016 5:43am Apr 13, 2016 5:43am
Quoting cigarguy
{quote} HitTheBid, Welcome and thanks for the nice comment....
Thank you for the welcome.
It is I who should be thanking you
  • #2,553
  • Apr 13, 2016 5:51am Apr 13, 2016 5:51am
FIFO Short GY +6
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In other news: A ranger was trapped between a bull and a bear
  • #2,554
  • Apr 13, 2016 5:57am Apr 13, 2016 5:57am
Quoting Sniper1310
Comments are highly appreciated.
Excellent trades as usual! Your trades are a perfect example of what I said earlier about trading with the trend, especially for new scalpers. Many would get scared of the DD you had and would get out of the trade, counting it as a loser and perhaps doubting the system.

I didnt check all of them, but just from looking at your M1 charts, it looks like you traded most of them in the prevailing trend direction, which is why you went into profit even after drawdowns of +10p.
In other news: A ranger was trapped between a bull and a bear
  • #2,555
  • Apr 13, 2016 6:18am Apr 13, 2016 6:18am
FIFO Short EA +7
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In other news: A ranger was trapped between a bull and a bear
  • #2,556
  • Apr 13, 2016 6:44am Apr 13, 2016 6:44am
Quoting digiff
{quote} Excellent trades as usual! Your trades are a perfect example of what I said earlier about trading with the trend, especially for new scalpers. Many would get scared of the DD you had and would get out of the trade, counting it as a loser and perhaps doubting the system. I didnt check all of them, but just from looking at your M1 charts, it looks like you traded most of them in the prevailing trend direction, which is why you went into profit even after drawdowns of +10p.
Thank you for the comment and the remarks. I totally agree that trading with the trend is a must for newbies (like I consider myself too). As CG and many others advised looking at the higher TF (M5 and M15) is a must. If there is a retrace on i.e. M5 and then price continues in trend direction it is time for dropping down to M1 looking for an entry.

Today I had some trades where I definitely should have waited for the retrace. Total attributable to lack of patience. I will work on this the next days.
  • #2,557
  • Apr 13, 2016 7:03am Apr 13, 2016 7:03am
Quoting Sniper1310
{quote} Thank you for the comment and the remarks. I totally agree that trading with the trend is a must for newbies (like I consider myself too). As CG and many others advised looking at the higher TF (M5 and M15) is a must. If there is a retrace on i.e. M5 and then price continues in trend direction it is time for dropping down to M1 looking for an entry. Today I had some trades where I definitely should have waited for the retrace. Total attributable to lack of patience. I will work on this the next days.
Sniper1310,

Good comments as traders discussing positive constructive criticism to help each other.....
Keep It Simple
  • #2,558
  • Apr 13, 2016 7:05am Apr 13, 2016 7:05am
All PM's answered...
Keep It Simple
  • #2,559
  • Apr 13, 2016 7:18am Apr 13, 2016 7:18am
Well here are my trades for today. I would trade longer than an hour, but I've got homework to do. All explanations are on charts. Ove decided to just focus on the EURUSD for now. Instead of hopping from chart to chart its easier for me to focus on one.
EURUSD -0.1
EURUSD +3.3
EUR/USD +1.7
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  • #2,560
  • Apr 13, 2016 7:34am Apr 13, 2016 7:34am
Another benefit of trading with trend. You can re-enter late (if you missed it initially), but it takes some experience. CG's charts have lots of examples of this.

PVSRA FIFO Short EU +8
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In other news: A ranger was trapped between a bull and a bear
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