Attachments: Atheer's scalping method 1

Atheer's scalping method 1

#601
Apr 25, 2016 6:16am Apr 25, 2016 6:16am

atheer1
Joined Oct 2006 | Status: Trader | 4,056 Posts

Quoting Wido24

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Hi Atheer, thx for sharing your setups! I made my first two trades today with it and I hope, I understood everything correctly. Can you explain how you exactly manage your trade? In this area I have a lot of problems... Is there a good way to trail the trades? Should we go for a special R:R? I hate (I think we all) to see a trade move 20 Pips in profit - and then it drops down to BE... (see below USDCAD-Trade) You wrote minimum 1:2 RR - is this the most profitable way? Thx for your patience with us! P.S.: I took this LT1C-Setups, but waited for...

Ignored

both setups are OK taking my broker into account
Both candles(1st) are type 1 candles
both opens are just near the line but not exactly at

atheer1

#602
Apr 25, 2016 6:24am Apr 25, 2016 6:24am

atheer1
Joined Oct 2006 | Status: Trader | 4,056 Posts

Note:

I have away of trailing stop I call the intelligent TS

If you want to trail move the stop below the low of type 1 bull candles formed after entry in buy setups,and move the stop above high of type 1 bear candles formed after entry in sell setups

Personally I don't prefer to trail ,I exit by TP or manually

atheer1

#603
Apr 25, 2016 5:54pm Apr 25, 2016 5:54pm

nikisinten
| Joined Mar 2014 | Status: Trader | 7 Posts

Quoting atheer1

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How to classify a candle as type one *** 1st we should have our lines to do so *** In one minute our horizontal lines are at one pip intervals *** look at the candle open it should be between 2 horizontal lines(not at the lines) *** look at the body is it green,so we look for the lower wick is it extending to zones(1 pip intervals) other than that of the open so OK it is a type 1 bullish candle *** look at the body is it red, so we look for the upper wick is it extending to zones(1 pip intervals) other than that of the open so OK it is a type 1...

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Sorry... about type 1 candle. If the body is green with the lower wick so it is type 1 bullish... is it bullish or bearish?? I think its bearish type 1 like the example, confuse...

#604
Edited 6:18pm Apr 25, 2016 6:07pm | Edited 6:18pm

nikisinten
| Joined Mar 2014 | Status: Trader | 7 Posts

Quoting atheer1

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{image}

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in that example Sell setup...green candle with lower wick: its bear, isn't? So we looking for green candle with lower wick for type 1 bear candle to sell setup (with 2nd candle reacing the low).. so we looking for the green candle with lower wick (not upper wick) for type 1 bear candle..sorry just ask

#605
Apr 25, 2016 6:13pm Apr 25, 2016 6:13pm

atheer1
Joined Oct 2006 | Status: Trader | 4,056 Posts

Quoting nikisinten

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{quote} Sorry... about type 1 candle. If the body is green with the lower wick so it is type 1 bullish... is it bullish or bearish?? I think its bearish type 1 like the example, confuse...

Ignored

green=bull
red= bear

atheer1

#606
Apr 25, 2016 6:30pm Apr 25, 2016 6:30pm

nikisinten
| Joined Mar 2014 | Status: Trader | 7 Posts

Haha ok realy confuse... in this picture 1st candle is red with upper wick then 2nd candle is reaching the high of the 1st candle with the upper wick, so its buy setup (its bull, isn't...??)

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#607
Apr 25, 2016 6:31pm Apr 25, 2016 6:31pm

atheer1
Joined Oct 2006 | Status: Trader | 4,056 Posts

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atheer1

#608
Apr 25, 2016 6:48pm Apr 25, 2016 6:48pm

nikisinten
| Joined Mar 2014 | Status: Trader | 7 Posts

My bad.. I understnd now

The red is type 1 bear candle but we use it for buy setup and the green=bull we use it for sell setup...

Am I right?

Many thanks atheer1...

#609
Apr 25, 2016 7:48pm Apr 25, 2016 7:48pm

ahyau
| Joined Dec 2015 | Status: Trader | 140 Posts

Quoting atheer1

Disliked

How to classify a candle as type one *** 1st we should have our lines to do so *** In one minute our horizontal lines are at one pip intervals *** look at the candle open it should be between 2 horizontal lines(not at the lines) *** look at the body is it green,so we look for the lower wick is it extending to zones(1 pip intervals) other than that of the open so OK it is a type 1 bullish candle *** look at the body is it red, so we look for the upper wick is it extending to zones(1 pip intervals) other than that of the open so OK it is a type 1...

Ignored

Hello atheer1,

Please correct me if i understand your type 1 wrongly...

draw horizontal lines at X pips interval corresponding to the Time Frame... Eg. If at 5 min time frame, draw horizontal lines at 1.2000, 1.2005, 1.2010, 1.2015 etc

For a type 1 bullish candle, it should open at the zone between 2 horizontal lines ( ie not on the line ) and the candle LOW extended to zones lower than the open zone.

Eg. Open at 1.20035, Low at 1.1908.

Question : can the lower wick end on the line...eg. 1.1905 ?

For type 1 bearish candle, it should open at the zone between 2 horizontal lines (ie not on the line ) and the candle HIGH extended to zones higher than the open zone..

Eg. Open at 1.2013, High at 1.2018.

Question : can the higher wick end on the line... eg. 1.2020 ?

Many thanks !

#610
Apr 25, 2016 8:21pm Apr 25, 2016 8:21pm

atheer1
Joined Oct 2006 | Status: Trader | 4,056 Posts

Quoting nikisinten

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My bad.. I understnd now The red is type 1 bear candle but we use it for buy setup and the green=bull we use it for sell setup... Am I right? Many thanks atheer1...

Ignored

yes you are right

atheer1

#611
Apr 25, 2016 8:24pm Apr 25, 2016 8:24pm

atheer1
Joined Oct 2006 | Status: Trader | 4,056 Posts

Quoting ahyau

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{quote} Hello atheer1, Please correct me if i understand your type 1 wrongly... draw horizontal lines at X pips interval corresponding to the Time Frame... Eg. If at 5 min time frame, draw horizontal lines at 1.2000, 1.2005, 1.2010, 1.2015 etc For a type 1 bullish candle, it should open at the zone between 2 horizontal lines ( ie not on the line ) and the candle LOW extended to zones lower than the open zone. Eg. Open at 1.20035, Low at 1.1908. Question : can the lower wick end on the line...eg. 1.1905 ? For type 1 bearish candle, it should open...

Ignored

yes you are right

for your question about low/high of type one candle yes it can be on the line

atheer1

#612
Apr 26, 2016 12:17pm Apr 26, 2016 12:17pm

Wido24
| Joined Apr 2010 | Status: Trader | 33 Posts

Hi Atheer, thank you for your comments on my charts! I'm happy, that the setups were correct

I still have problems with managing the trades. I think I'm not so good in intelligent Trailing...

I test at the moment: take half of profit at +10 Pips and let the other half of the trade run till
+30 Pips. If the price goes against me and breaks the BB on the other side I close manually.
Is this a good idea? Are +30 Pips TP too much? How do you calculate/determine your TP?

Thx for your time!

#613
Apr 26, 2016 12:48pm Apr 26, 2016 12:48pm

atheer1
Joined Oct 2006 | Status: Trader | 4,056 Posts

Quoting Wido24

Disliked

Hi Atheer, thank you for your comments on my charts! I'm happy, that the setups were correct I still have problems with managing the trades. I think I'm not so good in intelligent Trailing... I test at the moment: take half of profit at +10 Pips and let the other half of the trade run till +30 Pips. If the price goes against me and breaks the BB on the other side I close manually. Is this a good idea? Are +30 Pips TP too much? How do you calculate/determine your TP? Thx for your time!

Ignored

good plan
but every setup is different depending on many factors but mainly direction of the day and time of the trade

atheer1