PVSRA Scalping with Cigarguy

Quoting leescofield

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{quote} Hi,Sir.I think scalp should use heavy lots to trade，such as 1lots，then scalper can get sufficient mounts of ￥￥，while using smaller lots is not very good profit

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Quoting josh11;9098031[highlight=Yellow

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]Eu +5 pips,[/highlight] Price was rejecting trendline, broke through dragon, waited for pullback and then break of support. {image}

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What Is Scalping as per definition;

"In case of forex, forex scalping? Scalping is a method of trading where a trader skims small profits continuously. It is the act of entering and exiting positions several times in one day while trying to make profits during high velocity moves, a scalper will act quickly on releases of economic data and other significantnewsevents that influence trading activity."

Quoting josh11;9098180[highlight=Yellow

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]EU +8 pip, Support became resistance two nice volume bear bars rejected[/highlight] from it, bit risky as ct but trend was still down on 5m! {image}

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Quoting cigarguy

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{quote} josh11, Very nice...... I saw you have traded a few other systems in the past but it appears that you have found your FIFO scalping niche......

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Quoting josh11

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{quote} This one is by far the best I have ever traded and suits my personality, I am reading thread again and Backtesting a lot to understand how the MM are trading and also taking your advise and only choosing one pair! Thanks you again love it

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Quoting josh11

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EU +8 pip, Support became resistance two nice volume bear bars rejected from it, bit risky as ct but trend was still down on 5m! {image}

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Quoting cigarguy

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{quote} Ockham Nice charts ( clean and easy to read) and I can see from your detailed explanations that your posts and contributions are going to be valued and helpful to our traders.....

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Quoting Ockham

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{quote} Hi Josh11 nice trade, seems you are not using the same tp each trade, this one 8 pips, the previous 5 pips... may i ask you to explain how did you maximize your profit, do you have an fixed sl ? An auto break even level to protect your profit ? Trailing stop or did you do this manually ? Thanks

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Quoting cigarguy

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As traders gain confidence which comes with experience, they increase their lot sizes to fit their comfort zone. The probabilities of hitting a small pip target, ie., 1 to 5 pips with a PVSRA high momentum FIFO scalp is much greater then a 20+ pips target on a higher t/f requiring a large stop loss, while enduring stressful retraces and ranging. As their confidence grows and their lots are increased the same profit can be realized with a small pip trade with the increased lots.

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Quoting josh11

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{quote} Hi mate, I have a hard Tp at 5pips but every trade is different, I will Tp early if there is S or R rear or if I feel that the momentum has gone, I am still very new to this but my last one was an average of 8pips my first was 5 pips and 2nd was 3 pips so once I added I used the first trade as my Tp. My SL is generally 5 pips to 10 pips or S and R if not too far I don't move to BE... This is just me atm it may change in time. hope that helped mate

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Quoting cigarguy

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Rob, Check PM's please.... No big secret Guys just EA coding talk attempting to always improve........

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Quoting Ockham

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{quote} As newbie with this system, so still in demo, i'm actually thinking that the money management is the key in scalping more than in others system on higher tf, did not found yet the perfect sl, auto tp or even some auto be.. Entry point are obviously an important part of a succesful trade but in scalping we need to be something more chirurgical... may be a problem if you don't like blood Cigarguy i saw some of your trade you exited with 1.7 pips, i m actually trading with fxcm and with commissions i almost need...

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Quoting Ockham

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{quote} As newbie with this system, so still in demo, i'm actually thinking that the money management is the key in scalping more than in others system on higher tf, did not found yet the perfect sl, auto tp or even some auto be.. Entry point are obviously an important part of a succesful trade but in scalping we need to be something more chirurgical... may be a problem if you don't like blood Cigarguy i saw some of your trade you exited with 1.7 pips, i m actually trading with fxcm and with commissions i almost need 1.2 pips to be breakeven,...

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Quoting cigarguy

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{quote} Ockham, Yes you are correct, as scalpers we use our lasers to surgically remove pips from the sneaky Market Makers...... The Broker issue you refer to cannot be addressed here on this thread. I will say that you are on the right track regarding your search for a Broker that will provide you with better rates.....I am a IB for a Broker so that is all that I can offer here as Broker discussions are prohibited on non-commercial threads and I closed mine a long time ago.....I was not allowed a Commercial thread and a Retail thread so...

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