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PVSRA Scalping with Cigarguy

  • #3,741
  • Aug 24, 2016 4:12am Aug 24, 2016 4:12am
EU +4.8 pips, Still double top holds and we got rejection off dragon, then red volume bar.
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  • #3,742
  • Aug 24, 2016 6:43am Aug 24, 2016 6:43am
EU +5 pips, 5m still showed stong sell, MM were building orders saw three volume bear bar around same price, bounced off dragon and below 200ma.
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  • #3,743
  • Edited 8:20am Aug 24, 2016 7:34am | Edited 8:20am
PVSRA Scalpers regarding Brokers Fees;

All that I can suggest for any traders is to chose an ECN with fast order executions, no re-quotes and that will offer low fees and/or commissions, and no First In First Out which will allow hedging.

This will allow for PVSRA scalping for small pips and that is all that I can say.....
Keep It Simple
  • #3,744
  • Aug 24, 2016 9:04am Aug 24, 2016 9:04am
Howdy all.

UJ +9.3

Upward momentum.
15min was bullish.
Confident MM were targeting the half level.

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  • #3,745
  • Aug 24, 2016 9:05am Aug 24, 2016 9:05am
USDJPY M1 +5.1PIPS

Reasons for entering LONG
- Dragon was going up and I liked the inclination
- CSM showing weak JPY
- Waited for a lot of candles to make sure that we had broken key level 100.250 upwards
- Once I thought that level was already broken, waited for a retracement that ended close to it, and entered on a green candlestick with high volume

I usually wait in front of the screen, but for this one I was hungry, so I went to a coffee shop nearby and when I came back my target was already hit!
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  • #3,746
  • Aug 24, 2016 9:09am Aug 24, 2016 9:09am
lKeithStone and Rob,

Nice trades Guys......
Keep It Simple
  • #3,747
  • Aug 24, 2016 9:10am Aug 24, 2016 9:10am
Quoting josh11
EU +4.8 pips, Still double top holds and we got rejection off dragon, then red volume bar. {image}
Nice one! I spotted that one too but I was still in office, so I didn't enter.
  • #3,748
  • Aug 24, 2016 9:34am Aug 24, 2016 9:34am
EU +7 (avg. +3.6 @ 2 lots) Glad to be out of this one with any + pips at all...Lost my touch and rhythm for the EU as been trading UJ often. This one went bad all the way with terrible risk/reward but we post the good with the mistakes for all to learn.....I made too many mistakes on this one to count.....
Attached Image (click to enlarge)
Click to Enlarge Name: Larry's Snapshot2016-08-24_07-27-51_EURUSDi_M1_.png Size: 51 KB
Keep It Simple
  • #3,749
  • Aug 24, 2016 9:49am Aug 24, 2016 9:49am
Quoting cigarguy
EU +7 (avg. +3.6 @ 2 lots) Glad to be out of this one with any + pips at all...Lost my touch and rhythm for the EU as been trading UJ often. This one went bad all the way with terrible risk/reward but we post the good with the mistakes for all to learn.....I made too many mistakes on this one to count..... {image}
I didn't see that one before, but now that I am looking at it, I think I would have also entered the moment you did. Or maybe I would have waited a bit because the inclination of Dragon was not very obvious.
  • #3,750
  • Aug 24, 2016 10:01am Aug 24, 2016 10:01am
Quoting robmagario
{quote} I didn't see that one before, but now that I am looking at it, I think I would have also entered the moment you did. Or maybe I would have waited a bit because the inclination of Dragon was not very obvious.
Rob,

Be glad you didn't enter as I did and with a tight stop you would have been stopped out with a loss... The volume bars were indicating good momentum and soon after my entry I had a approx. 2+ pips profit with that bearish red candle and then the sneaks retraced it back up to the 200 ema area which was my mental stop......I was about to close with a loss when the bearish momentum kicked in and saved me........

We post the Good, Bad and Ugly for all to learn what not to do as well as our winners.....
Keep It Simple
  • #3,751
  • Aug 24, 2016 10:06am Aug 24, 2016 10:06am
Quoting cigarguy
{quote} Rob, Be glad you didn't enter as I did and with a tight stop you would have been stopped out with a loss... The volume bars were indicating good momentum and soon after my entry I had a approx. 2+ pips profit with that bearish red candle and then the sneaks retraced it back up to the 200 ema area which was my mental stop......I was about to close with a loss when the bearish momentum kicked in and saved me........ We post the Good, Bad and Ugly for all to learn what not to do as well as our winners.....
Yes, I was lucky that I didn't enter because if I entered, as you know from my trades, I set about 5 to 6 pips at most for my stop loss,
so that would be a loss for me for sure.
  • #3,752
  • Aug 24, 2016 10:08am Aug 24, 2016 10:08am
Quoting robmagario
{quote} Yes, I was lucky that I didn't enter because if I entered, as you know from my trades, I set about 5 to 6 pips at most for my stop loss, so that would be a loss for me for sure.
Yep, not good as some times the best trade is NO TRADE.....Many more high probability trades will come along ........
Keep It Simple
  • #3,753
  • Aug 24, 2016 10:12am Aug 24, 2016 10:12am
I don't want this thread, as I commented at Post #1 and through out, for only winning trades with bragging rights. I do post winners as well as losers and encourage all to do the same.

That is how we all learn from trades gone bad, mistakes and winners as Traders Helping Traders.......There is no room for egos and bad attitudes here!
Keep It Simple
  • #3,754
  • Aug 24, 2016 11:03am Aug 24, 2016 11:03am
cigarguy,

Per your experience, would you say August is harder to trade ? Would you advise to be more cautious during summer vacation ?

From what I can see/understand there is less liquidity and sometimes the expected move doesn't seem to be made because of the lack of it. Versus in a winter month for example...
  • #3,755
  • Edited 11:25am Aug 24, 2016 11:14am | Edited 11:25am
Quoting thedrrew
cigarguy, Per your experience, would you say August is harder to trade ? Would you advise to be more cautious during summer vacation ? From what I can see/understand there is less liquidity and sometimes the expected move doesn't seem to be made because of the lack of it. Versus in a winter month for example...
thedrrew,

Some say that summer is a bit quiet due to holidays........I trade year round and do think liquidity does dry some but it's still OK for some scalping as Institutions don't close their doors and that is what moves the market.

If you want stats, I am sure a google search will show many I still trade and watch my charts to see what they say.....I actually don't believe the EXPERTS, but that's just my opinion.........

I know some traders that will not trade Fridays due to positions being settled prior to the week end and some that won't trade Mondays as the feel the market has no direction. The only day that I watch carefully, is Fridays for the aforementioned reasons.
Keep It Simple
  • #3,756
  • Aug 24, 2016 11:20am Aug 24, 2016 11:20am
EU M1 FIFO Scalp +13 (avg. +3.3 @ 4 lots) I still feel a little awkward with EU vs UJ today....
Attached Image (click to enlarge)
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Keep It Simple
  • #3,757
  • Aug 24, 2016 11:25am Aug 24, 2016 11:25am
Quoting cigarguy
{quote} thedrrew, Some say that summer is a bit quiet do to holidays........I trade year round and do think liquidity does dry some but it's still OK for some scalping as Institutions don't close their doors and that is what moves the market. If you want stats, I am sure a google search will show many I still trade and watch my charts to see what they say.....I actually don't believe the EXPERTS, but that's just my opinion.........
Thanks for that as when I first started trading the "EXPERT" from who I was learning from always said summer was hard. And even suggested not to trade during August...

He was also saying September was kind of hard because of the MM coming back to the market and making it harder to trade. Oh, and also Monday's because you know MM are coming back to the market...

But what I learned from you cigarguy is that when there is momentum, there is an opportunity. And I think that is the best advice about when it is right to trade.
  • #3,758
  • Aug 24, 2016 11:30am Aug 24, 2016 11:30am
Quoting thedrrew
{quote} Thanks for that as when I first started trading the "EXPERT" from who I was learning from always said summer was hard. And even suggested not to trade during August... He was also saying September was kind of hard because of the MM coming back to the market and making it harder to trade. Oh, and also Monday's because you know MM are coming back to the market... But what I learned from you cigarguy is that when there is momentum, there is an opportunity. And I think that is the best advice about when it is right to trade.
thedrrew,

I by no means am an expert on that subject, but I enjoy trading, watch for good momentum indications and listen :nerd:to my charts and act when I see a PVSRA confirmed entry. Always attempting to KEEP IT GREEN and SIMPLE....
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Keep It Simple
  • #3,759
  • Aug 24, 2016 11:40am Aug 24, 2016 11:40am
Quoting cigarguy
{quote} thedrrew, I by no means am an expert on that subject, but I enjoy trading, watch for good momentum indications and listen :nerd:to my charts and act when I see a PVSRA confirmed entry. Always attempting to KEEP IT GREEN and SIMPLE....
The minute you start thinking you are an expert, you stop learning. That's why I prefer learning from non expert and would like never to become one !
  • #3,760
  • Aug 24, 2016 11:43am Aug 24, 2016 11:43am
Quoting thedrrew
{quote} The minute you start thinking you are an expert, you stop learning. That's why I prefer learning from non expert and would like never to become one !
thedrrew,

So true, so then I will always continue to learn...........

OMG, This is post # 4000 for me.....I think I talk too much....
Keep It Simple
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