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PVSRA Scalping with Cigarguy

  • #8,701
  • Edited 11:25am Apr 22, 2017 9:22am | Edited 11:25am
Quoting Neo1
Hi Everybody, Thanks for this thread I am new here and wish to learn this trading method but i have a question; Do i have to go through 430 page to learn the method or there are some specific posts??
All start at post #1 reading the PDF'S and study the many posted charts with excellent explanations then it depends on each traders abilities to grasp our PVSRA scalping style.

Our entire thread is designed as a PVSRA scalping text book. As with every profession in life, some are fast learners and others are not. We can only provide the tools for all to learn. Each trader if they choose must take the initiative to learn.

CG
Keep It Simple
  • #8,702
  • Apr 23, 2017 7:58am Apr 23, 2017 7:58am
Quoting Neo1
Hi Everybody, Thanks for this thread I am new here and wish to learn this trading method but i have a question; Do i have to go through 430 page to learn the method or there are some specific posts??
You'll also find that even after reading all the posts, you'll still struggle with the entries until you do heaps of hours of practice.
  • #8,703
  • Edited 9:14am Apr 23, 2017 9:02am | Edited 9:14am
Quoting bion92
{quote} You'll also find that even after reading all the posts, you'll still struggle with the entries until you do heaps of hours of practice.
Interesting..
Most traders have little problems with entries but do with exits and that is why we set our EA to close at +/- 5 pips or at traders target based on levels as S and R...

I will set my EA to close at 5 pips but turn it off if I see a good momentum run and then close as PA stalls or near a S & R level prior to a retrace. Each trader must decide what works for them.

Trading is not a one size fits all business.
CG
Keep It Simple
  • #8,704
  • Apr 23, 2017 9:42am Apr 23, 2017 9:42am
Quoting cigarguy
{quote} Interesting.. Most traders have little problems with entries but do with exits and that is why we set our EA to close at +/- 5 pips or at traders target based on levels as S and R... I will set my EA to close at 5 pips but turn it off if I see a good momentum run and then close as PA stalls or near a S & R level prior to a retrace. Each trader must decide what works for them. Trading is not a one size fits all business. CG
I agree, I don't think finding entries based on price action is that hard. The hard part is the money management ( learn to accept risk and holding on to your stoploss ) and discipline. Me myself I try to keep a 1:1 ratio, - 5 pips / +5 pips.
  • #8,705
  • Edited 2:14pm Apr 23, 2017 9:46am | Edited 2:14pm
Quoting Pipsifx
{quote} I agree, I don't think finding entries based on price action is that hard. The hard part is the money management ( learn to accept risk and holding on to your stoploss ) and discipline. Me myself I try to keep a 1:1 ratio, - 5 pips / +5 pips.
Exactly and your mindset shows you have a solid plan....nice post

I like a post that is informative when a trader explains their challenges and how they have devised a plan to overcome those issues that is helpful to ALL.
CG
Keep It Simple
  • #8,706
  • Apr 24, 2017 2:07am Apr 24, 2017 2:07am
EURUSD M1 +4.6 PIPS SHORT

explanation on chart

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wish all a green week !
  • #8,707
  • Edited 10:52am Apr 24, 2017 10:30am | Edited 10:52am
UJ M1 FIFO scalp +61 (+12.1 @ 5 lots) Only time this AM for one quick scalp due to outside business obligations but got a nice little MM sting..

After entry saw a bearish run forming so stopped our OrderOnChart entry EA and manual close as no substitute for trader management and expecting a retrace/profit taking at the 109.800 area as short term support... was also concerned at PA below RDH we cannot know and of course could go lower but somewhat risky at this time of day with LC and retraces expected with NY Session........

No black box automatic system can replace the traders eyes and brains to manage their hard earned money....
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Keep It Simple
  • #8,708
  • Apr 24, 2017 10:58am Apr 24, 2017 10:58am
PVSRA Scalpers,

We don't need to be greedy as just stalking the pairs with high momentum and observing MM's trading our key levels as S & R and grab their shirt tails and go along for the ride.

A couple of nice momentum scalps with little stress and done for the day with nice pips banked......then go enjoy your day.....

Keep It Simple and Stay GREEN My Friends,

Cigarguy
Keep It Simple
  • #8,709
  • Apr 24, 2017 4:19pm Apr 24, 2017 4:19pm
My only trade today, I have been doing some MM research and general revision to improve my trading hopefully I will make less mistakes over time. Good start but my trade risk was way to high by mistake so I closed early.

UJ +3.8
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  • #8,710
  • Apr 24, 2017 6:30pm Apr 24, 2017 6:30pm
Quoting cigarguy
PVSRA Scalpers, We don't need to be greedy as just stalking the pairs with high momentum and observing MM's trading our key levels as S & R and grab their shirt tails and go along for the ride. A couple of nice momentum scalps with little stress and done for the day with nice pips banked......then go enjoy your day..... Keep It Simple and Stay GREEN My Friends, Cigarguy
what is good sl tp for this system

how about 8 pips sl and 5 pips tp?
  • #8,711
  • Edited 9:39pm Apr 24, 2017 6:46pm | Edited 9:39pm
Quoting forexpairs
{quote} what is good sl tp for this system how about 8 pips sl and 5 pips tp?
There is no "one size fits all".
Each trader must set their own RR based on their account size and each trade may be different based on momentum.

I only set a emergency stop of about 20 pips in case of system issues and manage each trade watching like a hawk. Probably not good for all but been trading this style for years and works for me.

I stalk for high probability FIFO high momentum scalps that with momentum will hit my take profit (usually key levels) targets in minutes if not seconds. If momentum and PA stalls, I may close quickly or let PA run if momentum continues.

That is only one reason why black box EAs don't work in the long run. As I have posted many many times prior their are no short cuts to be successful. Each trader must manage their trades armed with a understanding how the market makers manipulate the market.

So armed with that understanding we trade WITH THEM and don't fight the market.

Just my style.....Each trader must find theirs..

PS- I gave a long answer due to PM s asking this in addition to trade management questions answering all with one post.

CG
Keep It Simple
  • #8,712
  • Apr 24, 2017 11:27pm Apr 24, 2017 11:27pm
usdjpy short

Price broke dragon with volume and entry upon retrace, it took some reluctance to come to the "meeting place" of 200ema/RN key level, however given a small sl as insurance for a rainy day, pips were harvested in due time....
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  • #8,713
  • Edited Apr 25, 2017 12:40am Apr 24, 2017 11:58pm | Edited Apr 25, 2017 12:40am
USDJPY short trade


in m5 chart i saw retracement to dragon after that in m1 chart high volume red bearish candle cross the dragon . i entered and got 6 pips and out


good morning from india...have a good day pvsra bros....
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  • #8,714
  • Apr 25, 2017 1:47am Apr 25, 2017 1:47am
EURJPY M1 +5PIPS LONG

Reasons
- Break of the 119.750 key level with a huge green candle and notable volume
- Got my target and exited
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  • #8,715
  • Apr 25, 2017 2:09am Apr 25, 2017 2:09am
usdjpy short CT

No particular liking in CT but was absent during the upside, and caught this retrace just in time, price overextended @1/4 key level n EP @expansion bar with very tight stop, 5 pip target falling right on the back of dragon/50ema, pips banked.
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  • #8,716
  • Apr 25, 2017 2:32am Apr 25, 2017 2:32am
usdjpy long

PA making new high with jpy weak and all heading up, needed to get on board of this gravy train...EP @DH and with little struggle, target reached in due time, EA closing pips banked.
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  • #8,717
  • Apr 25, 2017 5:19am Apr 25, 2017 5:19am
EURJPY +5.9

Identical to Robs trade this morning. Price made a new high with notable volume so got in there. Was another entry with the red bar followed by the green engulfing bar a little later also.
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  • #8,718
  • Apr 25, 2017 5:27am Apr 25, 2017 5:27am
USDJPY +6.7

Same move as my EURJPY trade. Price broke through heavy resistance with notable volume. Got in after a small retrace. There was a better entry with the reaction to the m1 dragon with high volume but price does tend to move very rapidly between Frankfurt and London opening so got in when I did because didn't want to risk missing the move up.
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  • #8,719
  • Apr 25, 2017 5:49am Apr 25, 2017 5:49am
Quoting djms
{quote} do you always go for 5 points........ i took the 1st trde you took short on ej yesterday because it broke the daily trendline then retraced to it meaning the macro downtrend was still intact, up 90 ticks so far with no reason to exit the short
I target 5 pips most of the time. What you wrote above makes sense to that specific trade, but how many times does it happen to be like that in day trade? I guess not many. Moreover, depending on the time you are trading, you may get lots of retraces along. That is why targeting 5 pips are way safer.
  • #8,720
  • Apr 25, 2017 6:40am Apr 25, 2017 6:40am
Quoting djms
{quote} i did read the pdf and have been trading currencies for 3 years now, just wanted to know what the different colours on the volume indi meant lol sorry if you included it in the pdf and i missed it
Hope this helps.

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