PVSRA Scalping with Cigarguy

Quoting Ockham

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{quote} yes Rob i was thinking for something like this as well, some trade manager do this pretty well, the problem is you reduce your average profit by trade so you need to be more profitable, example with one TP +5 and SL -10 you need 67% of wins to be break even and if you cut 50% a +5 and the second is stop at +1 you already need 77% of wins to break even. May be in long term it could be more profitable but for daily results our +-5pips tp is better imho while scalping pvsra, of course on some interesting...

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Quoting robmagario

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{quote} You are right. Having that said, it would be interesting to see how it goes. For example, the trade below is a good example that we could target more than 5PIPS. The trade closed automatically at 5PIPS, but we could have targeted around 10PIPS. But of course there are also dozens and dozens of other examples that show that after 5PIPS, PA had just gone against our direction. Rob {image}

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Quoting cigarguy

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{quote} Hind sight is always 20/20....observe the average trades that hit 5 +/- and retrace.... I have traded every time frame through the years and found a FIFO QUICK PIPS was less stressful and profitable. Each trader must find what works for them as trading is not "one size fits all".. Personally I opt for FIFO with little market exposure allowing the sneaky MM's time to retrace and grab my profit and stop hunt. The key is waiting for good momentum to quickly hit your take profit.

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Quoting robmagario

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EURJPY M1 +5PIPS Reasons for entering LONG - Basically PA had broken 123.000 upwards, it went pretty high and it bounced back to Dragon - So after it started to break Dragon upwards again, I saw a green candle with notable volume, I entered after that expecting that PA would go close to the previous high Got my target and exited {image}

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Quoting cigarguy

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{quote} Hind sight is always 20/20....observe the average trades that hit 5 +/- and retrace.... I have traded every time frame through the years and found a FIFO QUICK PIPS was less stressful and profitable. Each trader must find what works for them as trading is not "one size fits all".. Personally I opt for FIFO with little market exposure allowing the sneaky MM's time to retrace and grab my profit and stop hunt. The key is waiting for good momentum...

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Quoting Ipodbob

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Roughly what % do you risk on each trade if you don't mind answering I know this is a personal preference but I am just curious

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Quoting cigarguy

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{quote} If you are directing this question to me? No specific % when scalping just depends on currency strength, session, time of day and momentum considering higher t/f's.....ie.....how much confidence in the trade vs. somewhat risky...

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Quoting Ipodbob

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{quote} Yes sorry that was directed at you Thanks that's plenty of info though I'm just putting some demo practice in and trying to improve my entry on this system Patience is my biggest enemy so far.

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Quoting cigarguy

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{quote} Yes......as for most.......

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Quoting Ipodbob

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{quote} Yes sorry that was directed at you Thanks that's plenty of info though I'm just putting some demo practice in and trying to improve my entry on this system Patience is my biggest enemy so far.

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Quoting cigarguy

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{quote} I personally am not a fan of demo accounts for learning or practice. They are fine for testing indicators and such but I always suggest for any trader rather new or just new to a system to open a small live account. The mind set when trading real $$ is totally different then trading a demo. I have mentioned this many times throughout this thread as I have seen many traders do well with a demo but stressed and couldn't pull the trigger with real money at stake.

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Quoting Ipodbob

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{quote} I see your point, although I may haemorrhage money to begin with hence why I was choosing demo just for now since I am returning from a large break from this system. Maybe you're right. I'll do demo just this week and raise a small account next week.

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