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PVSRA Scalping with Cigarguy

  • #6,441
  • Jan 9, 2017 9:57am Jan 9, 2017 9:57am
EURJPY M1 +5PIPS

Reasons for going LONG
- Entered a bit late after PA broke the previous high with a green candle and high volume
- Dragon was moving up, inclination was good, PA being traded above the 200EMA
Got my target and exited
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy-m1-ftt-sweden-ab.png Size: 78 KB
  • #6,442
  • Jan 9, 2017 12:16pm Jan 9, 2017 12:16pm
USDJPY M1 +5PIPS

Reasons for entering SHORT

- First of all, I saw very strong resistance that happened at around 116.570. Since the top was closing just above key level 116.500, I imagined that MM's would eventually move price lower
- Dragon was moving down, inclination was awesome, PA being traded below the 200EMA
- Break of previous low with a red candle and relatively high volume (not that high but enough to reach my target).
Got my target and exited
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy-m1-ftt-sweden-ab.png Size: 84 KB
  • #6,443
  • Edited 3:43pm Jan 9, 2017 3:26pm | Edited 3:43pm
Quoting robmagario
USDJPY M1 +5PIPS Reasons for entering SHORT - First of all, I saw very strong resistance that happened at around 116.570. Since the top was closing just above key level 116.500, I imagined that MM's would eventually move price lower - Dragon was moving down, inclination was awesome, PA being traded below the 200EMA - Break of previous low with a red candle and relatively high volume (not that high but enough to reach my target). Got my target and exited {image}
Nice trades and many thanks for your posts with usual great explanations. I am still busy with outside business commitments but hope to get back to trading soon and miss our trading community.......

I noticed a few more scalping threads but most continue to rely on lagging/re-painting indicators in lieu of learning how to trade with the Market Makers and their momentum for quick profits. Many scalping threads have come and gone as new traders look for signals that just don't work in the long run.

Their is no substitution for learning how the FX market really works to protect capital and most of those traders that follow signals will blow their accounts as happened so many times through the years. As we have discussed here many times, all that is needed to be successful is PA knowledge and follow the smart money trade our key levels.

Their is no short cut or mystery to scalping as with any profitable profession, one must study and practice.

Stay GREEN My Friends,
Cigarguy
Keep It Simple
  • #6,444
  • Edited 4:25pm Jan 9, 2017 4:08pm | Edited 4:25pm
UJ M1 FIFO Scalp +12 While posting to FF saw this quick little scalp to test my trigger finger cause have not used it for awhile......No special talent here as just observed PA and MM's momentum on break of 116.00 key level as short term support with new hour candle momentum....

No pretty indicators needed just observing MM's momentum in relation to to key levels as support and resistance as keeping it simple and reduced my usual 5 lots to only 1 lot due to session and time of day.

( If I would have traded my usual 5 lots; 5 x 12 pips = 60 pips in less then 1 minute not too bad for 1 quick FIFO scalp a nice little sting ) Our system works as it has withstood the test of time....

IMO most traders make trading/scalping more difficult then it is by watching too many useless not needed indicators and never actually acquire a understanding why PA performs as it does.....
Attached Image (click to enlarge)
Click to Enlarge Name: Snapshot2017-01-09_15-15-08_USDJPYi_M1_.png Size: 47 KB
Keep It Simple
  • #6,445
  • Edited Jan 10, 2017 8:45am Jan 9, 2017 8:36pm | Edited Jan 10, 2017 8:45am
Some short trades on EJ
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURJPYM1.png Size: 62 KB
Click to Enlarge Name: EURJPYMmmm1.png Size: 63 KB
Be a spectator, not a player
  • #6,446
  • Jan 9, 2017 9:49pm Jan 9, 2017 9:49pm
USDJPY M1 +5PIPS

I accidentally hit my trackball and closed the trade but opened it again (phew!)
Reasons for going SHORT
- Break of previous low which was also a break of support level 115.500 with a big red candle and notable volume. See that the support level was tested a few times.
- Dragon was moving down, inclination was good, PA being traded below the 200EMA
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy-m1-ftt-sweden-ab.png Size: 66 KB
  • #6,447
  • Jan 9, 2017 10:05pm Jan 9, 2017 10:05pm
Quoting cigarguy
{quote} Nice trades and many thanks for your posts with usual great explanations. I am still busy with outside business commitments but hope to get back to trading soon and miss our trading community....... I noticed a few more scalping threads but most continue to rely on lagging/re-painting indicators in lieu of learning how to trade with the Market Makers and their momentum for quick profits. Many scalping threads have come and gone as new traders look for signals that just don't work in the long run. Their is no substitution...
Thanks Cigarguy! I have also lost a lot of money in the past when I subscribed to many signal services that were only meaningless. But fortunately I found you and other people in this thread and I have been learning a lot since then.
  • #6,448
  • Jan 9, 2017 11:27pm Jan 9, 2017 11:27pm
Quoting wiserltz
Some short trades on EJ {image}
Nice pips
Keep It Simple
  • #6,449
  • Edited Jan 10, 2017 12:04am Jan 9, 2017 11:32pm | Edited Jan 10, 2017 12:04am
Quoting robmagario
USDJPY M1 +5PIPS I accidentally hit my trackball and closed the trade but opened it again (phew!) Reasons for going SHORT - Break of previous low which was also a break of support level 115.500 with a big red candle and notable volume. See that the support level was tested a few times. - Dragon was moving down, inclination was good, PA being traded below the 200EMA {image}
I have done that...and once my dog accidentally hit my keyboard and made more pips..true story....lol...
Keep It Simple
  • #6,450
  • Jan 10, 2017 2:27am Jan 10, 2017 2:27am
Hi everyone and happy new year 2017, i wish you all an happy green year !
Seems holidays are over, so go back to work ^^

Uj m1, played little bit with descending channel and stop playing approaching M15 dragon, seems it was not a bad idea !
Explanation on charts
Attached Image (click to enlarge)
Click to Enlarge Name: UJ1.jpg Size: 971 KB
There is no way to happiness , happiness is the way.
  • #6,451
  • Edited 6:31am Jan 10, 2017 5:50am | Edited 6:31am
Short bias UJ trade, closed right on time
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDJPYM1.png Size: 38 KB
Click to Enlarge Name: USDJPYM11.png Size: 33 KB
Be a spectator, not a player
  • #6,452
  • Edited 6:49am Jan 10, 2017 6:35am | Edited 6:49am
Quoting Ockham
Hi everyone and happy new year 2017, i wish you all an happy green year ! Seems holidays are over, so go back to work ^^ Uj m1, played little bit with descending channel and stop playing approaching M15 dragon, seems it was not a bad idea ! Explanation on charts {image}
Welcome back ALL from the Holidays...... Congrats to all who have hung in and scalped some nice pips during many low volume Holiday Sessions...

Personally I am attempting to garner more time from my outside businesses freeing up time to have some fun stinging the greedy market makers for some pips with our excellent PVSRA scalping community....

Cigarguy
Keep It Simple
  • #6,453
  • Jan 10, 2017 11:22am Jan 10, 2017 11:22am
EURUSD M1 +5PIPS

Reasons for going SHORT
- Dragon was moving down, inclination was good, PA being traded below the 200EMA
- Entered when PA broke the consolidation area with a red candle and notable volume
Got my target and exited!
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-m1-ftt-sweden-ab.png Size: 86 KB
  • #6,454
  • Jan 10, 2017 11:56am Jan 10, 2017 11:56am
Robmagario could you tell me were i could find that idicator on the top right of you chart ( can)
FREEDOM IS NOT FREE
  • #6,455
  • Jan 10, 2017 12:31pm Jan 10, 2017 12:31pm
Quoting tantor1973
Robmagario could you tell me were i could find that idicator on the top right of you chart ( can)
I think you are talking about the TRO_Multi_Meter_Candle_color.
Here is the link.
http://www.forexfactory.com/printthread.php?t=312194
  • #6,456
  • Jan 10, 2017 1:12pm Jan 10, 2017 1:12pm
THANKS
FREEDOM IS NOT FREE
  • #6,457
  • Jan 10, 2017 3:53pm Jan 10, 2017 3:53pm
cigarguy and robmagario when do you exit a losing trade got in atrade today just after newyork open it was just the last big green candle (i noticed most of the time londenboy bring up /down price then the newyork boys will just push it alittle bit higher/lower to then reverse) can i use a rule like if it goes below/above the dragon in opposite direction beter to getout before the damage get worse? or a fixed emergency stop of 15pips? hope you can help me with this one. when do you know your in a losing trade because you can not hold and hope that it turns back
rgds kwin
  • #6,458
  • Jan 11, 2017 12:20am Jan 11, 2017 12:20am
Trend unclear, closed the shorts
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYM1.png Size: 49 KB
Be a spectator, not a player
  • #6,459
  • Jan 11, 2017 1:30am Jan 11, 2017 1:30am
EU m1 3 trades +11

I know it is not an PVSRA indicator but i would be interested to have Cigarguy or others opinion about the VWAP indicator (Volume weight average price) imho this is not so far from our pvsra style as it is also represents an other form of volume and can be as i see really usefull while scalping because respected by the market as i observed ...

Explanation on chart.
Attached Image (click to enlarge)
Click to Enlarge Name: EU.jpg Size: 949 KB
There is no way to happiness , happiness is the way.
  • #6,460
  • Jan 11, 2017 4:36am Jan 11, 2017 4:36am
USDJPY 2 trades , total +9 PIPS

Reason for both trades - I entered LONG

- Series of bullish moves
- Dragon was moving up, inclination was good, PA being traded above the 200EMA
- Break of key resistance level 116.250 with green candle for the 2nd trade. For the 1st trade I entered a bit too early.
I closed the second trade by the end of the cyan candle and when the red candle just started.
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy-m1-ftt-sweden-ab.png Size: 86 KB
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