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PVSRA Scalping with Cigarguy

  • #3,021
  • Jul 19, 2016 10:53pm Jul 19, 2016 10:53pm
Quoting cigarguy
EU M5 FIFO scalp +19 (avg. 6.2 @ 3 lots) Explanation on chart as nothing special with these PVSRA trades as just trading with the MM's/Smart Money's momentum letting them show the way and grabbing their shirt tails for the ride....... {image}
I noticed that some of your trades have a series of around 3 green candlesticks (although not consecutive), then
the last green candlestick touches the support level (in this case 1.1000) and retraces.
So, you catch that momentum when it retraces back to Dragon.
I really admire your technique but I feel a bit intimidated by Dragon, since it was a huge bearish Dragon, I feel
difficult for me to enter long. But I will learn from your chart and maybe I should try on a demo account first and see how it goes.
Thanks a lot!
  • #3,022
  • Edited 5:26am Jul 20, 2016 4:35am | Edited 5:26am
Quoting robmagario
{quote} I noticed that some of your trades have a series of around 3 green candlesticks (although not consecutive), then the last green candlestick touches the support level (in this case 1.1000) and retraces. So, you catch that momentum when it retraces back to Dragon. I really admire your technique but I feel a bit intimidated by Dragon, since it was a huge bearish Dragon, I feel difficult for me to enter long. But I will learn from your chart and maybe I should try on a demo account first and see how it goes. Thanks a lot!
robmagario,

If I were you I would not re-think or change your entry decisions as you are doing great with all of your entries. I do not feel that I actually have any specific technique other then PVSRA confirmations and try not to over think any entry decisions.

I am not as analytical as you seem to be, (which I admire you for that talent by the way) but I attempt to keep my PVSRA trades simple by watching PA, support & resistance key levels and try to stalk for good momentum opportunities evidenced by volume and PA movement.

I have been trading for a few years and primarily stalk EU and UJ for PVSRA entries and by focusing on just a couple of pairs have become somewhat accustomed to their movements (not always the case of course) and after lots of screen time acquire a pretty good feel how they move. IMO watching charts and trading is pretty much an art form and traders, after lots of screen time, will acquire a feel, coupled with their trading rules, how price will move and gleam some insight to what the Smart Money has in mind.

Nothing of course works all of the time, but experience and a good solid system will serve the trader well over time.....Just My Opinion.....

Stay GREEN My Friend!
Keep It Simple
  • #3,023
  • Jul 20, 2016 5:46am Jul 20, 2016 5:46am
EU M1 Scalp +2 Closed this little trade had little momentum once entered... In hind sight got too impatient should have held a bit longer as correct entry but closed too soon. Oh well many more to come...........
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  • #3,024
  • Edited 6:24am Jul 20, 2016 6:04am | Edited 6:24am
MM's play some Pump N Dump games as done often above whole numbers as key levels attempting to catch wrong way traders and some stop hunting......
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  • #3,025
  • Jul 20, 2016 7:41pm Jul 20, 2016 7:41pm
euronext,

As you asked in your PM's this is not my chart but a good example hopefully answering your questions. M15 GU, PA below dragon all headed down, 2 small retraces marked with circle and red candle with notable bearish volume giving PVSRA confirmation for entry netted this astute trader +88 as closed near 1.31535 key support level......Hope this helps.....
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  • #3,026
  • Jul 21, 2016 3:37am Jul 21, 2016 3:37am
Quoting cigarguy
{quote} robmagario, If I were you I would not re-think or change your entry decisions as you are doing great with all of your entries. I do not feel that I actually have any specific technique other then PVSRA confirmations and try not to over think any entry decisions. I am not as analytical as you seem to be, (which I admire you for that talent by the way) but I attempt to keep my PVSRA trades simple by watching PA, support & resistance key levels and try to stalk for good momentum opportunities evidenced by volume and PA movement. I have been...
Thanks a lot Cigarguy, I will follow your suggestion and stay with the strategy that I am using.
  • #3,027
  • Jul 21, 2016 3:42am Jul 21, 2016 3:42am
I got off work a bit earlier today so decided to trade earlier too.
USDJPY +5.3PIPS 1M

This was a very easy one.
Reasons for entering Bearish
- Dragon was moving down
- Most of all other time frames (M5, M15, etc) were bearish too
- Entered just after a huge volume on a red candlestick and got my 5.3PIPS in just 8 seconds!

FIFO is really amazing!
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  • #3,028
  • Edited 8:33am Jul 21, 2016 8:17am | Edited 8:33am
EU M1 FIFO scalp +6 (avg +5.6) very fast M1 scalp after news run up as news traders taking profits. These M1 CT trades can be risky care should be taken and keep in mind the MM's will often pre-plan their move using the news as their catalyst and run PA in the opposite direction just prior to news releases attempting to catch wrong way traders and run back opposite as intended during the news release.......
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  • #3,029
  • Edited 8:46am Jul 21, 2016 8:27am | Edited 8:46am
Quoting robmagario
I got off work a bit earlier today so decided to trade earlier too. USDJPY +5.3PIPS 1M This was a very easy one. Reasons for entering Bearish - Dragon was moving down - Most of all other time frames (M5, M15, etc) were bearish too - Entered just after a huge volume on a red candlestick and got my 5.3PIPS in just 8 seconds! FIFO is really amazing! {image}
Good job as that is why we stalk for good momentum entries trading with the smart money......and just going along for the ride. No indicators will give you an edge as to their possible intentions except PA and Volume relative to key S & R levels.....It personally took me a long time to figure this one out and drop all of my pretty lagging indicators.......
Keep It Simple
  • #3,030
  • Jul 21, 2016 10:04am Jul 21, 2016 10:04am
Quoting cigarguy
{quote}
mate ,
after TAH and his gang missed , u are the only OLD poster/member.. i know some guys come time to time..but u posting daily.. thanks and keep it up ... volume trading is not easy understand so ur help is great for members..

regards!!!
  • #3,031
  • Jul 21, 2016 10:29am Jul 21, 2016 10:29am
I'm still getting caught up with the thread so I'm sorry if this has been mentioned before.

Do any of you draw your 1m support and resistance based on the "momentum" candles? I'm finding it works really well. In the picture below you can see how price shot up and down this level, and then reacted to it on the pullback.

*I'm using tick charts if any of you are wondering why my volume indi looks strange.

I really wish I would have found this thread a lot sooner. Trading momentum candles for quick scalps looks like a very profitable strategy. Great stuff Cigarguy! Time for me to get back to reading the thread.

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  • #3,032
  • Edited 12:22pm Jul 21, 2016 12:11pm | Edited 12:22pm
Quoting us fantasy
{quote} mate , after TAH and his gang missed , u are the only OLD poster/member.. i know some guys come time to time..but u posting daily.. thanks and keep it up ... volume trading is not easy understand so ur help is great for members.. regards!!!
us fantasy,

Thanks for the nice comments.... Yep, this old PVSRA scalper still hanging in there:nerd: post Sonic R and TAH's fantastic thread breaking the ground for our current PVSRA Scalping Thread. WELCOME to the Party hoping to see you around as a contributor.....
Keep It Simple
  • #3,033
  • Edited 12:35pm Jul 21, 2016 12:17pm | Edited 12:35pm
Quoting lKeithStone
I'm still getting caught up with the thread so I'm sorry if this has been mentioned before. Do any of you draw your 1m support and resistance based on the "momentum" candles? I'm finding it works really well. In the picture below you can see how price shot up and down this level, and then reacted to it on the pullback. *I'm using tick charts if any of you are wondering why my volume indi looks strange. I really wish I would have found this thread a lot sooner. Trading momentum candles for quick scalps looks like a...


iKeithStone,

Good to hear you're enjoying our system and thinking OUT OF THE BOX with your tick chart trading.... To answer your question; for me not based only on the momentum candles but their location relative to key S & R levels with higher t/f PVSRA confirmation as well. (Not sure but I think this is is what you asked?) Other traders comments welcomed as always!

I also traded tick charts a few years ago but got a little fast for me these days......Looking forward to seeing your trading results as food for thought please keep us posted.......
Keep It Simple
  • #3,034
  • Edited 6:46pm Jul 21, 2016 6:26pm | Edited 6:46pm
UJ M15 +31 (avg. +5.1 @ 6 lots) Explanation on chart with 2 entries as liked set up so went for more pips with target at next key levell as no Bullish follow through from long green bullish candle after retrace. Again nothing special as just trading with (following) Smart Money per PVSRA rules........

Note: Error on chart not all green but ALL RED @ entry.....
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  • #3,035
  • Jul 21, 2016 8:13pm Jul 21, 2016 8:13pm
UJ M15 +15 (avg. +5 @ 3 lots) Explanation on chart pretty much same as prior after retrace and break of key level as support again following Smart Money and entered with PVSRA conditions met....
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  • #3,036
  • Jul 22, 2016 12:30am Jul 22, 2016 12:30am
Quoting cigarguy
{quote} iKeithStone, Good to hear you're enjoying our system and thinking OUT OF THE BOX with your tick chart trading.... To answer your question; for me not based only on the momentum candles but their location relative to key S & R levels with higher t/f PVSRA confirmation as well. (Not sure but I think this is is what you asked?) Other traders comments welcomed as always! I also traded tick charts a few years ago but got a little fast for me these days......Looking forward to seeing your trading...
I'm definitely enjoying this thread. Thanks to you and the creators of PVSRA.

Okay, that makes sense. I will normally go to a higher time-frame to draw any key S/R, wedges, and channels at the beginning of the day. For the most part I stay on the lower time frames. Yes, that answered my question. Thanks!

Tick charts are great! I'm currently using 100 tick charts which is very similar to 1 min charts. I have an indicator that calculates the average number of ticks for the past day on each time frame. Today USD/JPY average ticks per 1 min candle was 108. Some days it's around 70 ticks per 1 min candle. I tend to not go below 100. So actually some days I'm trading higher than 1 min charts.

I'm looking forward to sharing my trading results. I'm the type that really likes to dig deep and know the ins and outs of how things work before jumping in. Currently I'm reading through your posts and taking notes. I'm also having some psychological issues ever since I had a big loss a few months ago. Ever since then I see setups and hesitate to take them. Most days I will just stare at the charts and not take a single trade because it brings back that fear. I know I'm good enough (I have 1,000's of hours of chart time), but my confidence is lacking. I believe this system will help me overcome this. Mainly because when trading momentum with small targets the trade should move in my direction quickly if I'm right.

  • #3,037
  • Jul 22, 2016 4:37am Jul 22, 2016 4:37am
GU M1.. high volume on YHI cross

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  • #3,038
  • Edited 5:09am Jul 22, 2016 4:57am | Edited 5:09am
Quoting lKeithStone
{quote} I'm definitely enjoying this thread. Thanks to you and the creators of PVSRA. Okay, that makes sense. I will normally go to a higher time-frame to draw any key S/R, wedges, and channels at the beginning of the day. For the most part I stay on the lower time frames. Yes, that answered my question. Thanks! Tick charts are great! I'm currently using 100 tick charts which is very similar to 1 min charts. I have an indicator that calculates the average number of ticks for the past day on each time frame. Today USD/JPY average ticks per 1 min...
I was in the same situation as you when i first started learning how to scalp. I used to trade the 4hr and 1hr chart for a long time.

Take them on a demo account. Trust me, i don't know how to explain it but when you actually take the trade, even if it's virtual money your brain get used to it and the emotional aspect will take care of itself. Watching a good trade go by and not take it will only make things worse. Take those trades and post them here win or loss and you will benefit either way. If you lose you'll get feedback to get better and if you win your confidence will get where you need it to be.

There's no place for fear and especially when you scalp.

You need to get that fear away by getting used to taking those trades, because when you trade the higher time frames you have time to think about the set up for a while. If you enter 5-10 pips after the actual entry and you aim for 150 pips+ it doesn't really matter. But you when aim for quick 5-10 pips and try to ride the momentum, yeah you have to think the set up too but you need to pull the trigger because every single pip matter. If you think for too long and the price move fast in the direction you expected well... that setup ain't really valid anymore, price already took off and you don't want to be in a trade late just when it start reversing.

It's kinda funny that i say this because if you go on my last post in this thread on the previous page (post # 3002), you'll see that i was complaining that i took pretty much every trade too early. I was in the same shoes as you before. I was scared of entering in the beginning, then i was always late on entries (cost me several times) and now i'm often too early on my entries.

Anyways i'm still learning and getting used to this everyday but this is what worked for me.

Cheers
  • #3,039
  • Jul 22, 2016 7:09am Jul 22, 2016 7:09am
lKeithStone & Stellan,

Some good talk Guys as Traders Helping Traders....
Keep It Simple
  • #3,040
  • Edited 8:05am Jul 22, 2016 7:36am | Edited 8:05am
UJ M15 +21 (avg. +4.2 @ 5 lots) Explanation on chart and may be more steam left in this up move but closed due to Friday and lots of position closing & profit taking prior to the week end.......
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