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PVSRA Scalping with Cigarguy

  • #6,141
  • Dec 7, 2016 8:12pm Dec 7, 2016 8:12pm
USDJPY M1 +5PIPS
Reasons for entering SHORT

- Dragon was moving down, inclination was good, previous candle on H1 was also bearish
- PA Broke the previous low with high volume, I entered at that moment
- There was a small retrace after that but I reached my target and exited
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy-m1-ftt-sweden-ab-2.png Size: 51 KB
  • #6,142
  • Dec 7, 2016 8:25pm Dec 7, 2016 8:25pm
Same M5 trade posted above showing why dropping down to M1 for PVSRA confirmation and entry will often help produce more pips.
Attached Image (click to enlarge)
Click to Enlarge Name: Snapshot2016-12-07_19-29-57_USDJPYi_M1_.png Size: 55 KB
Keep It Simple
  • #6,143
  • Dec 7, 2016 8:31pm Dec 7, 2016 8:31pm
Quoting cigarguy
Same M5 trade posted above showing why dropping down to M1 for PVSRA confirmation and entry will often help produce more pips. {image}
Awesome! I entered by the final stage of the move and got the last profit of it!
  • #6,144
  • Dec 7, 2016 8:36pm Dec 7, 2016 8:36pm
Quoting robmagario
{quote} Awesome! I entered by the final stage of the move and got the last profit of it!
Yes I saw and that's why I posted the M1 chart as I entered on M5 and you caught a good M1 entry.....
Keep It Simple
  • #6,145
  • Dec 7, 2016 11:06pm Dec 7, 2016 11:06pm
Quoting cigarguy
{quote} Yes I saw and that's why I posted the M1 chart as I entered on M5 and you caught a good M1 entry.....
Hi Rob

Is your entry always based on the break of just previous recent low? or break of two or more lows? just wondering
  • #6,146
  • Dec 7, 2016 11:40pm Dec 7, 2016 11:40pm
Quoting pvrsazyt
{quote} Hi Rob Is your entry always based on the break of just previous recent low? or break of two or more lows? just wondering
It depends.
I ask myself this question first.

- What is the distance between the previous low and the one before that?
If the difference is huge then maybe I can try that, but in that case I want it to break it twice.
So, I wait until it breaks once, then look for a retrace, then I wait until it breaks it for the second time and enter.
Of course since we do PVSRA look for high volumes.

If the difference is small, don't enter. Wait until it breaks the first one, because that means the whole structure is broken.
After that, wait for a small retrace back to Dragon and enter.
Sometimes, it will not retrace back to Dragon so you need to act quickly and spot that and enter.
Look at Post 6,122 . The bounce didn't happen so I acted quickly to get my target.

Rob
  • #6,147
  • Edited 2:51am Dec 8, 2016 2:26am | Edited 2:51am
Quoting pvrsazyt
{quote} hello wiserltz this might be an unfounded fear but based on your analysis, trading with the MM might mean going CT most of the time , because when MM pulls price down , it would mean that they are bullish and vice versa. how then are you still sure of your analysis? and how then do you determine your stoploss? and you seem to be buying the retraces sometimes am i right?
Attached EJ M5, make myself more clearly. There is no "fear" I think, I see MM suppressing the bull, trying to fill their long order during low liquidity, they are bullish for the pair.
I never set hard SL for my trade, seldom scalping in reverse of the big trend, atleast the trend I think, if I was right, the profit will be good, if I was wrong, "big picture" changed, which normally will be too late....
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYM5.png Size: 80 KB
Be a spectator, not a player
  • #6,148
  • Dec 8, 2016 2:44am Dec 8, 2016 2:44am
EURUSD 1M +5PIPS

Reasons for going LONG
- First of all, I looked left and I saw this strong resistance level at around 1.07750
- Next to this, I saw that Dragon was going up and the inclination was awesome!
- I entered when PA broke 1.07750 key level with a big green candle and high bullish volume
- PA did some retrace but it was ok
Got my target and exited
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-m1-ftt-sweden-ab.png Size: 49 KB
  • #6,149
  • Dec 8, 2016 3:10am Dec 8, 2016 3:10am
The bad and the better.
I will comment 4 trades on UJ, left part the 2 first and right part the 2 last, first i think both entry where good even the first part is more pvsra that the second.
-1st Trade reason for entry PA broke the support trendline and the horizontale support with a red candle with volume that became a green candle.
I loose the 1 st trade because when i entered i was drowing the support line and missed the exact place at may be 2 pips, so as my take profit is automatically set to +5pips this one was below the support and as i was looking PA i was asking myself did i need to move it above ?! big mistake this need just 1 second reflexion, so when price reached almost +4pips and the key level i did not exited... more than this i tried to entered a second time when previous support became resistance that of course was broken quickly so double sentence, my bad

2nde Trade.
Was looking for an better entry, so i pay first attention to the 50% fibo but price broke this line with high volume and green candle, not time for enter, but price stopped at second level i was expected 61.80% fibo and 113.600 key level, so i entry short my TP to the 113.500 was not reached and as i did not want same experience than trade 1 i decided to exit for +3pips the last trade as PA was still in this short term resistance i entered short again when i saw this nice reversal purple candle and also a small bearish divergence and TP this time to the 113.500 level with some +4pips because this time i changed my TP to be above the key level without forgetting the spread.

Conclusion.

As i'm still in demo account even if i'm looking for nice entry i probably don't pay enough attention the trade himself, reason why CG told many times that it is important to trade with real money even just with micro lot, it is why i m looking for a broker to open a real account and i m actually testing some of them.

sorry for all this long explanation, may could help somes..
Attached Image (click to enlarge)
Click to Enlarge Name: UJ.jpg Size: 787 KB
There is no way to happiness , happiness is the way.
  • #6,150
  • Dec 8, 2016 3:19am Dec 8, 2016 3:19am
Quoting Rmieck
{quote} Changing the subject a little bit, I forgot to add about my personal choice over small spread and small commission (when possible) because that usually guarantees a better FIFO trade... another thing to me is that I calculate my commission in spread as of "0.5 pips or 0.7 pips" then I add the spread and I now how much I'll earn with a trade... This is a baseline for the quality of my trades, because I'll be only looking for a minimum of "X" pips! I hope all that helps! All the best [EDIT] took too much time writing this post, others...
Effectively pretty not easy to choose a broker, some have lower spread like 0.3 but with commissions, others have higher spread but without commissions and when you addition the first category low spread and commissions you could found much more higher than the second category and as both did not have fixed spread it is almost impossible to get good comparaison
There is no way to happiness , happiness is the way.
  • #6,151
  • Dec 8, 2016 3:21am Dec 8, 2016 3:21am
Quoting wiserltz
{quote} Attached EJ M5, make myself more clearly. There is no "fear" I think, I see MM suppressing the bull, trying to fill their long order during low liquidity, they are bullish for the pair. I never set hard SL for my trade, seldom scalping in reverse of the big trend, atleast the trend I think, if I was right, the profit will be good, if I was wrong, "big picture" changed, which normally will be too late.... {image}
Scalping, following the trend Waiting retrace and reenter but they didn't give me the chance
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYM1.png Size: 53 KB

There is not much consolidation under 1/2 level, because they have done that yesterday, don't want retailers following
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYM15.png Size: 28 KB
Be a spectator, not a player
  • #6,152
  • Dec 8, 2016 3:58am Dec 8, 2016 3:58am
Quoting Ockham
The bad and the better. I will comment 4 trades on UJ, left part the 2 first and right part the 2 last, first i think both entry where good even the first part is more pvsra that the second. -1st Trade reason for entry PA broke the support trendline and the horizontale support with a red candle with volume that became a green candle. I loose the 1 st trade because when i entered i was drowing the support line and missed the exact place at may be 2 pips, so as my take profit is automatically set to +5pips this one was below the support and as i was...
Too low liquidity in As, MM can move price easily, it is very difficult to guess what they want to do....
Be a spectator, not a player
  • #6,153
  • Dec 8, 2016 4:53am Dec 8, 2016 4:53am
USDJPY 1M +5PIPS

This is something that I normally don't do but I did because I saw high bearish volume that was increasing.
Reasons for going SHORT
- PA failed to break 200EMA
- After that red candle appeared and trend started to go bearish
- I opened the trade but realized that PA hadn't broken Dragon yet so I closed it
- PA broke Dragon downwards with high volume
Got my target and exited. In this case I calculated that a move of 5PIPS would be reached before the previous low. I wanted to be that way because since I saw that on M5 there was not enough space to go down yet.
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy-m1-ftt-sweden-ab.png Size: 49 KB
  • #6,154
  • Dec 8, 2016 5:34am Dec 8, 2016 5:34am
Quoting cigarguy
{quote} Rmieck, The Asian Session can be very difficult due to mostly ranging and retraces, so care should be taken with patience. Often during this session, I prefer to move up to a higher t/f such as M15 (and loose much of the Asian session noise) and pay close attention to key levels and ema's as S & R for retraces and then drop down to M1 to confirm a high momentum entry. Most of my losses through the years have been due to my impatience for a confirmed PVSRA entry during the Asian session. The enemy was not the MM's it was ME not having the...
Thank you for the great insight, I rarely use the M5 and M15 during LO/NY sessions, but I feel I should add that those trades were between NY open and 2 hours after NY open.

I know that NY opened right at the BREXIT high court hearings, and the ranging as far as I looked left was already happening since LO open.
Guess that delivered a very low liquidity for EU and UJ, because of indecision about what will happen to UK.

Talking about that patience, I applaud you for your patience! Especially during a trade, but that only comes with experience so I can't run away from the insecurity feeling for now

All the best
  • #6,155
  • Dec 8, 2016 6:31am Dec 8, 2016 6:31am
EU M1 +2.6. Explaination on chart.

Attached Image (click to enlarge)
Click to Enlarge Name: EU-m1--8-12-16.png Size: 69 KB
  • #6,156
  • Dec 8, 2016 7:02am Dec 8, 2016 7:02am
EU M1 Very FIFO Scalp +19 (avg. +1.9 @ 10 lots) Just got a small snipe scalping with the MM's momentum. These are risky but can quickly grab a few pips with experience. (no studies involved only truly scalping momentum)
Attached Image (click to enlarge)
Click to Enlarge Name: Snapshot2016-12-08_06-10-25_EURUSDi_M1_.png Size: 43 KB
Keep It Simple
  • #6,157
  • Dec 8, 2016 7:30am Dec 8, 2016 7:30am
EU M1 FIFO Scalp +114 (avg. +11.4 @ 10 lots) See chart as nice MM momentum on this one....
Attached Image (click to enlarge)
Click to Enlarge Name: Snapshot2016-12-08_06-36-47_EURUSDi_M1_.png Size: 48 KB
Keep It Simple
  • #6,158
  • Dec 8, 2016 7:30am Dec 8, 2016 7:30am
AU M1 +5 pips

PA was below both 'Dragon' and 200 EMA and it broke through level 0.74700. I entered when the red volume candle popped up and PA went straight to my TP in a few minutes time. Green pips y'all!
Attached Image (click to enlarge)
Click to Enlarge Name: PVSRA AU M1 8 Dec.png Size: 39 KB
~I'll take 5 pips or whatever I can~
  • #6,159
  • Dec 8, 2016 7:31am Dec 8, 2016 7:31am
Quoting Ropoy
AU M1 +5 pips PA was below both 'Dragon' and 200 EMA and it broke through level 0.74700. I entered when the red volume candle popped up and PA went straight to my TP in a few minutes time. Green pips y'all! {image}
Nice clean chart good job observing the key levels as S & R and entries from a retrace.....just keeping it simple....
Keep It Simple
  • #6,160
  • Dec 8, 2016 7:47am Dec 8, 2016 7:47am
EU M1 FIFO Scalp +20 (avg. +2 @ 10 lots) Managed to snipe a few more with the MM high momentum. Nothing fancy, just grabbing the MM's shirt tails and going along for the ride for quick small pips.
Attached Image (click to enlarge)
Click to Enlarge Name: Snapshot2016-12-08_06-56-55_EURUSDi_M1_.png Size: 41 KB
Keep It Simple
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