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PVSRA Scalping with Cigarguy

  • #3,101
  • Edited 11:55am Jul 27, 2016 11:42am | Edited 11:55am
To Answer PM's I shall repeat as stated above;

Each trader must ask themselves; Am I trading Forex as My Business to Make A Profit or as a Hobby?

I choose to stalk, snipe quick pips and watch charts ie., PA to observe PVSRA confirmations to do it again & again etc., As My Business to make profit.

Wash, Rinse & Repeat, Wash, Rinse & Repeat, and soon trading will become almost boring while you are making nice pips.

I Trade as a BUSINESS to make money and taking advantage of every edge possible but not for excitement. If I crave excitement I will go to a Casino and gamble but not Forex...........

Sorry for the redundancy with this post, but this appears to be an issue with traders asking questions and having a difficult time finding what system they feel comfortable dedicating their time to learning and becoming proficient. There is no one answer to that question, as each trader must find what system they feel confident trading and works for them and stick with that one only.. There are many out there for the choosing I have chosen PVSRA each must chose their own..........
Keep It Simple
  • #3,102
  • Jul 27, 2016 2:53pm Jul 27, 2016 2:53pm
PVSRA Scalpers,

I apologize and realize many of my posts sound "like a broken record" with the same information posted over & over again. I only continue to post such redundancy due to the same questions being asked many times as well via PM's mostly.

Some traders feel the necessity to only read the last few posts instead of checking out Post #1 where the Templates, Indicators and Rules are posted. There is no short cut to learning any viable trading system. Any system will require a degree of dedication and homework geared towards becoming proficient by learning, observing charts and working through a learning curve.

Let's KEEP IT SIMPLE and Stay GREEN My Friends
Keep It Simple
  • #3,103
  • Jul 27, 2016 4:03pm Jul 27, 2016 4:03pm
Quoting cigarguy
To Answer PM's I shall repeat as stated above; Each trader must ask themselves; Am I trading Forex as My Business to Make A Profit or as a Hobby? I choose to stalk, snipe quick pips and watch charts ie., PA to observe PVSRA confirmations to do it again & again etc., As My Business to make profit. Wash, Rinse & Repeat, Wash, Rinse & Repeat, and soon trading will become almost boring while you are making nice pips. I Trade as a BUSINESS to make money and taking advantage of every edge possible but not for excitement. If I crave excitement I will go...

Surely PVSRA is enough for people to realise that this is the method to trade.

I guess the "holy Grail" is Finding a system that will contact you and say " hey ive made a million for you, you can withdraw and shutdown"

Staying Green As Always
If there is no enemy within, the enemy outside can do us no harm...
  • #3,104
  • Jul 27, 2016 6:07pm Jul 27, 2016 6:07pm
An update regarding the use of the MADdash CSM I previously posted;

I am finding that it is actually gives a better Heads Up then the small one that most of us have been using. The only issue with this MADdash CSM is it requires a entire chart or a 2nd monitor to continually watch for pairs to stalk. I have 4 monitors, so I keep it up on a dedicated monitor allowing for easy observation. Of course if multiple monitors are not used, it can be brought up at will.

I will look for a specific currency, ie., USD that may be all or mostly Red or Green and then watch a corresponding currency for the opposite color. Once I find a pair that appears to be work stalking, then I will pull up that chart and start with M15 then M5 and if it fits our PVSRA criteria drop down to M1 for a possible entry. So far every heads up did in fact provide a PVSRA confirmed trade that went into profits but this testing is early, so we will see after a few hours of screen time .....

Any comments welcomed.....
Keep It Simple
  • #3,105
  • Jul 28, 2016 8:36am Jul 28, 2016 8:36am
EU FIFO Scalp +31 (avg. +3.1 @ 10 lots) Explanation on chart as observed possible trade on M5 and dropped down to M1 for PVSRA confirmation and entry with no bearish follow through on red candle as rejected by 200 ema support....
Attached Image (click to enlarge)
Click to Enlarge Name: Snapshot2016-07-28_06-38-39_EURUSDi_a_M1.png Size: 53 KB
Keep It Simple
  • #3,106
  • Jul 28, 2016 9:04am Jul 28, 2016 9:04am
UJ M5 Scalp +28 (avg. +2.8 @ 5 lots and added 5 more on USD weakness and bearish notable volume....Explanation on chart and had approx. only 3 pip DD...
Attached Image (click to enlarge)
Click to Enlarge Name: Snapshot2016-07-28_07-06-00_USDJPYi_b_M5.png Size: 53 KB
Keep It Simple
  • #3,107
  • Jul 28, 2016 9:36am Jul 28, 2016 9:36am
I see a few lurkers here....come on jump in with some posts as that's how we learn.....No need to be bashful here all are friendly and will help if needed or we may learn from you......We have friendly and helpful contributors.......
Keep It Simple
  • #3,108
  • Jul 28, 2016 10:55am Jul 28, 2016 10:55am
Been reading up and studying a lot on this forum. Really like your FIFO way and thank you for your patient demonstration and detailed explanation CG, you are a great mentor. Hope I'd be able to build enough confidence and join in the fun soon.​

You look at csm, 15m, 5m down to 1m for entry, do you watch TF beyond 15m? you mentioned there is a 4 monitor setup, just wondering besides pvsra, are there other indicators and charts you use as ref and support. Btw, what is the H1 symbol in the lower left and the 0.0 in the lower right corner in your chart as they are not available in the paperclip. Thank you and happy trading.
  • #3,109
  • Jul 28, 2016 11:00am Jul 28, 2016 11:00am
EU M15 +23 (avg. +2.3 @ 10 lots) This was a slow trade but after a small DD finally got some pips. Additional explanation on chart as entered after 2nd retest of 50 ema as short term support.........

Thats's +82 with 3 trades and probably enough for now unless something jumps out and calls my name....lol......​
Attached Image (click to enlarge)
Click to Enlarge Name: Snapshot2016-07-28_09-02-11_EURUSDi_c_M15.png Size: 55 KB
Keep It Simple
  • #3,110
  • Jul 28, 2016 11:20am Jul 28, 2016 11:20am
Quoting pipiphooray
Been reading up and studying a lot on this forum. Really like your FIFO way and thank you for your patient demonstration and detailed explanation CG, you are a great mentor. Hope I'd be able to build enough confidence and join in the fun soon.​ You look at csm, 15m, 5m down to 1m for entry, do you watch TF beyond 15m? you mentioned there is a 4 monitor setup, just wondering besides pvsra, are there other indicators and charts you use as ref and support. Btw, what is the H1 symbol in the lower left and the 0.0 in the lower right corner in your...
Welcome pipiphooray,

Thanks for the kind words.... I watch the entire CSM and look for currencies that have opposite colors (denoting strength vs. weakness) and then pull up a M15 chart to see if it is a prospect for a PVSRA entry. If so then I will drop down to M5 & M1 and if confirmation looks good pull the trigger. Most often, more pips can be made trading with the HOUR CANDLE, although I will often enter a CT trade as well if PVSRA confirmation is given on the lower t/f's.

No, I personally only look at PVSRA charts on each monitor at different time frames, except the CSM on one. I also have noticed through the years, their is usually a momentum move at the beginning of the ONE HOUR CANDLE and often wait for that candle for a entry.

The number on the left bottom of my chart is the count down timer for the one hour candle (notice the H1=) that will give me a heads up to watch for a nice momentum move.

Hope I answered your questions and here is that timer I set for only the ONE HOUR CANDLE. Good trading and hope to see your posts soon....

Please note that timer, the OrderOnChart EA and the Candle Multimeter are not PVSRA required indicators but non-invasive indicators that help with my scalping only.
Attached File(s)
File Type: ex4 SitaringMultiCandleTime-1.ex4   10 KB | 527 downloads
File Type: mq4 SitaringMultiCandleTime-1.mq4   4 KB | 550 downloads
Keep It Simple
  • #3,111
  • Jul 28, 2016 12:08pm Jul 28, 2016 12:08pm
Thank you CG for the prompt reply and the heads up on the time-based momentum move. I tend to jump in too fast sometimes for these type of action and what do you do to avoid getting caught by a reversal...wait certain minutes, look for some kind of confirmation, stop out and reverse order or something else....I will for sure follow the moto here "trader helping traders" and post what i will get--win or lose. I do appreciate Rob's posts as well which are very helpful. thanks n ttyl.​
  • #3,112
  • Edited 1:41pm Jul 28, 2016 12:32pm | Edited 1:41pm
FYI, for those that are considering or are new to scalping;

Many traders have a mind set of going for something like 20+ pips each day as a goal and are not interested in our small pip trades.

Well with that said, one should keep in mind that the Market Makers and Banks (aka Smart Money) trade huge lot sizes and move the market in small moves and make millions on a few pips or even one pip (often with a ranging market). So as retail traders if we can gleam an edge and insight as to their moves with our PVSRA system we can go along for the ride.

Most retail traders obviously, do not have that kind of money. OK, but once a trader is comfortable with scalping and dedicates themselves to a viable scalping system, rather it be ours or another, and slowly increases their lot size, they can reap the benefits as do the Smart Money traders with those small pip winners. One of the key advantages of FIFO scalping that I often mention in posts, is the limited market exposure for retraces and ranging erasing any small pip profits....

I personally, will often change my lot size depending on my confidence of my PVSRA confirmed entry, time of trading day and trading session. Many times I will have my OrderOnChart EA set for a 5 pip t/p, but if I see strong momentum kick in with increased volume, I will disable the EA and manually manage my trades. All we need to see is PA relative to key levels (S & R) with notable volume as PVSRA confirmation as keeping trading simple with clean charts.

Food for thought my friends;

Those small pip trades with multiple lots add up....IMO, I would not be concerned with the money profit, but just concentrate on making consistent winning trades with the correct entries and exits and the money will follow.... Ie., my trades for today reaped +82 with +3.1, +2.8 and +2.3 pips with 3 trades and multiple lots...by no means bragging but just to illustrate my trades for today as I sometimes will have losers as well.......

Stay GREEN My Friends,

Attached Image
Keep It Simple
  • #3,113
  • Jul 28, 2016 5:36pm Jul 28, 2016 5:36pm
Good Evening All, Here is my trade for today. +15 pips

The reason for entry is pretty simple, during the london open price was hovering around the 0.7250 (1) The 200 Ema was acting like a ceiling as price was being pushed towards it and rejecting it.
There was a break below the 0.7250 however volume was not present and i stalked until i was satisfied that the MM intention was to see price lower. As you can see, it did break and then retraced (touching the 50ema). THe big clue for me was the MM triggering the longs and making an attempt to take out the 200 ema, however once again, it was rejected and also made a Lower High (LH) (2) I entered my first position.
Price then tanked and i anticipated that the MM would bring price back up. I anticipated that if the 200 ema still had strength then price will continue this wave further down or should i say MM whip and whack. (3)
AS expected, MM once again sent price down, however a HL was established, at this point i became aware that if volume was present then the MM may attempt to take out the 200ema, however this was not the case because the 50 ema maintained the MM conviction of going lower (4) The same happened again at (5). My TP was the fib zone which was slightly above the 0.75000 mark. Here i anticipated MM to at least make a return to the Trend line.
During my stalking i was keeping an eye on the 15 min chart which assisted in my conviction of price potentially going further down.

Staying Green as always

Iscalp
Attached Image (click to enlarge)
Click to Enlarge Name: Live Trade for Thread.jpg Size: 178 KB
If there is no enemy within, the enemy outside can do us no harm...
  • #3,114
  • Jul 28, 2016 5:46pm Jul 28, 2016 5:46pm
Quoting iscalp
Good Evening All, Here is my trade for today. +15 pips The reason for entry is pretty simple, during the london open price was hovering around the 0.7250 (1) The 200 Ema was acting like a ceiling as price was being pushed towards it and rejecting it. There was a break below the 0.7250 however volume was not present and i stalked until i was satisfied that the MM intention was to see price lower. As you can see, it did break and then retraced (touching the 50ema). THe big clue for me was the MM triggering the longs and making an attempt to take out...
iscalp,

Very nice trades and articulate explanation..........
Keep It Simple
  • #3,115
  • Jul 28, 2016 6:05pm Jul 28, 2016 6:05pm
Thank you Cigar Guy for your comment, considering how i used to trade, i never had the problem of "pulling the trigger" i was always trading with no idea of target profits, and i was over trading, high leverage, really putting my trading mentality at lows. Its very true what you say, this system, once understood can open a whole different way of trading.....Only if you study "HOW THE MARKET REALLY WORKS"
Most of what i did today was purely down to accepting (more so reading your posts) that this war with the Market Makers is like a game of chess and each move you make can have detrimental effects if not executed correctly.

Staying Green As Always

Iscalp
If there is no enemy within, the enemy outside can do us no harm...
  • #3,116
  • Jul 28, 2016 7:59pm Jul 28, 2016 7:59pm
hi all, another quick scalp.

10 pips total.

The purpose of this trade is prior to the asian open, price was trailing above the trend line, the 15 min chart was showing that price was above trend line also.
The high volume entered which gave me the assumption that MM potentially want price higher. As liquidity is not great during the asian session i traded lightly.

Good Night All

Staying Green As Always

Iscalp
Attached Image (click to enlarge)
Click to Enlarge Name: quick scalp.jpg Size: 178 KB
If there is no enemy within, the enemy outside can do us no harm...
  • #3,117
  • Jul 28, 2016 9:07pm Jul 28, 2016 9:07pm
Damn a lot of great talk in the last couple pages, really good read guys thanks for the discussion!

Attached Image (click to enlarge)
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USDCAD + 5 :

 

  1. Price was ranging between the 1.31600 and 1.31500 with good volume between the two levels.
  2. Entered at the top of channel after break of the 1.31600 with good volume.
  3. Target a bit above the 1.31500 as i didn't know if price would break or bounce again off the half-level.
  4. Target hit for +5


Attached Image (click to enlarge)
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USDCAD -1 :

 

  1. Hahaha, the pic speak for itself...
  2. Right after the previous trade, entered of break of the half-level with notable volume (1.31500).
  3. Tried to enter at the beginning of the second red candle, but as soon as the second candle opened it crashed for 5 pips and my entry was 5 pips too late.
  4. I should have already been in profit +5, but oh well, priced then retraced and i held as price didn't break and close above the half-level where i had my mental stop.
  5. There was a strong 15 minutes resistance at that level, so when price started to range there with no follow-up i decided to move on with and take a loss for -1. Better safe than sorry.
  6. And of course, as soon as i exit, what happens ... ?

Attached Image (click to enlarge)
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Yeah, take off for +10 pips.


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USDJPY for +5 :

  1. Really simple, break of the quarter level (104.250) with good volume.
  2. Entered for +5, and that's it.

  • #3,118
  • Jul 28, 2016 9:57pm Jul 28, 2016 9:57pm
Sorry for the double post, forgot to attach this one

Attached Image (click to enlarge)
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NZD/USD for +5

 

  1. Same thing as the last one, simple break of the whole number (0.71000) with high-volume and entered for a quick +5.

  • #3,119
  • Jul 29, 2016 8:18am Jul 29, 2016 8:18am
Quoting Stellan
Sorry for the double post, forgot to attach this one {image} NZD/USD for +5 Same thing as the last one, simple break of the whole number (0.71000) with high-volume and entered for a quick +5.
Stellan,

All nice trades and great explanations........
Keep It Simple
  • #3,120
  • Jul 29, 2016 8:26am Jul 29, 2016 8:26am
Good example depicting how I use this CSM by finding the weakness and strongest pairs to stalk for a PVSRA entry......
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_388 Jul. 29 06.30.jpg Size: 421 KB
Keep It Simple
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