PVSRA Scalping with Cigarguy

PVSRA Traders,

The above posts by Ex-Banker a retired trader, is a nice confirmation that we are on the right track trading our PVSRA system with the Smart Money. He was kind enough to take his time to re-enforce that which we already know, that charts full of indicators are not needed, only PA, volume and key levels ...........their of course is additional information that is passed between institutions that we shall not know, but this is about as close as we can get as retail traders to gleaming insight as to their intentions........

Zipps,

Alright....you got it now as so much easier to see your trades using our PVSRA indicators/template.......Nice trades.....

EU M1 FIFO Scalp +24 (avg. +3 @ 8 lots) Entered on PA rejection of 1.09750 key level and break of 50 ema with notable volume CT higher t/f so had to be fast scalp before possible retrace....

UJ M1 Scalp +62 (avg. +3.1 with 20 lots) See explanation on chart as got heads up from CSM as to pair to stalk for possible entry. Added to short position on 2nd retrace with USD weakness vs JPY and caught good bearish momentum.........

Trading isn't difficult but we make it difficult by over thinking and relying on indicators instead of paying attention to what the Smart Money is up to by observing their PA movements relative to key levels. These psychological levels are important as they are where Smart Money will place Buy and Sell orders showing as Support & Resistance on our charts. These of course, are the levels that we use for entries and exits and can at times become very transparent to the astute trader............or we can choose to look at pretty squiggly line indicators and continue to replenish our trading accounts with our hard earned money by giving it away to the Brokers..

We should always invest our time to become proficient with the trading system of our choice before investing our money rather it be our PVSRA system or another.........to coin an old phrase, "The only time SUCCESS comes before WORK is in the dictionary"....food for thought.....

Stay GREEN My Friends!

rajib217,

Good to see you in the house.....Your OrderOnChart EA is still the best out there.....Thanks Much for your coding time......

Hello extraw,

All good coders stopping by today

UJ M1 scalp +22 (avg. +2.2 @ 10 lots) Stalked M15 and dropped down to M1 for quick scalp entry based on chart explanation. Again, heads up for pair to stalk provided by the newly posted CSM........

+108 not bad for a Monday

Come on Guys/Gals, I see lots of traders stopping by but would like to see more posts, either winners or losers as we are not judgmental but just TRADERS HELPING TRADERS.......

I'm getting lonely here just posting by myself.......

UJ M1 FIFO Scalp +37 (avg. +3.7 @ 10 lots) This fast momentum scalp took 20 seconds with explanation on chart. Could have entered sooner but waited for PVSRA confirmation on break of whole number and 200 ema........

+145 total for today so far as best Monday for me in awhile.......

Above chart with a winning trade and after closed.....Down she went and this is why I scalp for FIFO pips with little market exposure time. Stalk, Enter and Close just like a sniper or a winning trade can become a losing trade within seconds as evidenced here............So what do we do, trade with the Smart Money's Momentum and bank whatever the market may give.......That is why we continually see so many new traders here trading FX. Some will GET IT and be around trading for some time and most will follow pretty squiggly line trading and sorry to say will soon be gone........

The ultimate decision lies with each trader; Do I take the time and learn a viable system ( either PVSRA or another) or trade like playing a video game and loose my money and walking away saying "You Can't Make Any Money Trading Forex".......Just ask those traders that have been around here for a few years.....Sometimes tough love is needed for us all....

Market Makers doing what they do best attempting to catch wrong way position traders as explained on this chart.

Please remember as a PVSRA scalper we know how to deal with this type of PA movement and have the ability to trade with the MM's and use their momentum to our advantage, where position traders are locked into a ranging market......Only You can decide what type of trading fits your personality and time available to trade.. ....Obviously, I personally prefer as short of time as possible to be whipped around with market exposure.....Yes, I had to enter and close 5 trades today to make my +145 pips where as you could possibly catch a good run and make that in one trade. Although this is rather unlikely absent a lucky news trade, I would rather make more smaller good momentum trades with less time for MM's to whip PA around, but just my 2 cents and all comments welcomed as always........

Stay GREEN My Friends!

EU M5 -4 (avg. -1.3 @ 3 reduced lots) This trade was going no where with no volume so closed with a small loss. Pushed my luck considering this time of day as now mostly retraces and position closing.........Still had a good day so not going to give more back time to sit on my trigger finger.........

Stay GREEN My Friends!

I appreciate the words of wisdom. No worries, I made that mistake once (trading larger than I should have) and I won't make the same mistake twice. Surprisingly enough it wasn't because I wanted to "get rich quick". I know this is a long process and consistency is the name of the game. I'm currently using a money management system that allows me to move my size up .01 every 100 pips gained until I'm risking 2% of my account (At .01 it would take -400 pips to lose 2% of my account). This should allow me to reduce my risk of ruin and give me time to achieve consistency.

What's funny is even when I used to have indicators on my chart, I rarely even looked at them, let alone relied on them. Price is king. I've always thought this way. I'm not sure why this "adding more indicators to your chart" subject keeps getting brought up. They all lag. The only reason to have an indicator on your chart is to see divergence (and that's even questionable).

Here is where I'm going to have to respectfully disagree with you. Using Tick/Range/Renko/Point Original charts is JUST another way to view price. You can still see major levels, you can still use trend-lines/Channels/Wedges. They are not some lagging indicator. They are a more simplistic way to view price. Institutional traders may or may not use these various charting formats, but to say they provide no value is closed minded (in my opinion). I'll give you an example of a professional trader that uses 2 tick renko bricks - FuturesTrader71. He is a volume profile trader and uses a variation of Time/Tick/Renko chart formats.

I would like to add... Although we have varying opinions on different chart formats. I do respect your opinion. I will definitely keep what you've said in mind. Hopefully I didn't come off rude as that was not my intention.

USDJPY +6PIPS 1M

Reasons for entering LONG
- Dragon was moving up
- PA had already broken RDL a few candles ago
- Other time frames were bullish as well
- PA trading above 50EMA
- MACD 4C showing bullish trend
- I saw that after PA broke dragon upwards, it made some retracement and it started to go up again, so I entered just during a green candlestick on high volume.

Got my 6PIPS and exited
The whole trade only took me 17 seconds from the time I entered! FIFO!

Nice trade and explanation that all can learn from....

EU M5 +29 (avg. +5.8 @ 5 lots) Explanation on chart as CSM provided pairs to stalk. I am also stalking on M15 & M5 and then dropping down to M1 to confirm PVSRA entry which obviously provides for less noise on the higher t/f as we all know......

Note: FYI, I seem to be getting more reliable CSM information from the current one posted then the smaller version previously used now absent from my charts and also providing a cleaner trading chart as sometimes less is more.......

I needed to read a post like this. The value of sharing is so crucial on this thread.
Staying Green

iscalp,

Nice to hear our posts are helpful as we can all fall into bad habits and at times need a wake up call to get back to basics and KEEP IT SIMPLE....

I have never sought out a QUANTITY number of posters on this thread but a QUALITY number of CONTRIBUTORS .......

Stay GREEN My Friend
Cigarguy

[quote=Stellan;9043701]{quote} 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 [/quote.
Wow. This thread provides more value than ever. The beauty of reading people's obstacles in trading is that most traders believe that the reason they lose is because of some puschological block that they have created. I kid you not. Reading this makes sense.

I believe once you become robotic at trading. No emotions. Then you will see a difference. I have played poker online for a period of time and one thing that I needed to understand was variance. Variance is so important to understand. More so the fact that we are scalpers makes the odds in our favour. Why? Because we have volume. If you study PVSRA and understand its concepts, you will see that when you trade you will have a better return because you put your self in situations that are potentially skewed in your favour. Trade light and you have,as poker players would say, phat blinds to bully.

Credit still and will always go to cigar guy and for starting this thread and Tah for his efforts and charity for sharing this system.

Staying Green as always.

USDJPY 1M +5.1PIPS

Reasons for going LONG
- Dragon was moving up and I really liked the inclination
- PA had already broken 50EMA upwards
- Currency Strength showing super weak JPY
- Previous PA had broken Dragon, followed by two green candlesticks, then a very small correction, followed by another two green candlesticks, I entered exactly at the beginning of the second one