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M1 What's next TJ

  • #1
  • First Post: Edited May 13, 2017 11:07am May 12, 2017 11:18am | Edited May 13, 2017 11:07am
Since there aren't much "Discussion" in "M1 What's next", so I closed it and open this under "Trading Journals"
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  • #2
  • May 13, 2017 1:47pm May 13, 2017 1:47pm
Quoting wiserltz
Since there aren't much "Discussion" in "M1 What's next", so I closed it and open this under "Trading Journals"
Hi wiserltz

Thought I might offer a few helpful words.

Firstly I see you're trading USDCAD? Not a good idea at all. I would avoid the common favorites like USDCAD, EU, GU, UJ for scalping like the plague . They tend to move in a small range with a lot of spikes. You need to trade fast moving, large range trading pairs. You also need to be trading at the right time and be using the right system along with the right indicators for scalping. For a start, get rid of the volume indi quick! It's hopeless and meaningless. Don't know how people read it! Also if you're scalping it's pointless worrying about supply/demand and highs/lows. Happy to send you my template if you like.

Regards
Jerry
  • #3
  • Edited 11:11am May 15, 2017 10:54am | Edited 11:11am
Quoting jmtini
{quote} Hi wiserltz Thought I might offer a few helpful words. Firstly I see you're trading USDCAD? Not a good idea at all. I would avoid the common favorites like USDCAD, EU, GU, UJ for scalping like the plague . They tend to move in a small range with a lot of spikes. You need to trade fast moving, large range trading pairs. You also need to be trading at the right time and be using the right system along with the right indicators for scalping. For a start, get rid of the volume indi quick! It's hopeless and meaningless. Don't know how people...
Hi, Jerry
Thanks for the comments!
Still have many things needed to learn, as a beginner I tend to put everything i can get into my chart!

Regards
wiserltz

P.S. I know there are many debate about tick volume, I have studied PVSRA for some time, and still can't understanding the usage of tick volume in HTF(i think it more like art than techincal), i mean time frame bigger then M15; but I find tick volume is useful on LTF like M5 and M1
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  • #4
  • May 15, 2017 11:28am May 15, 2017 11:28am
GbpJpy short
Attached Image (click to enlarge)
Click to Enlarge Name: 19969919 GBPJPYM1.png Size: 96 KB
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  • #5
  • May 15, 2017 7:15pm May 15, 2017 7:15pm
Attached Image (click to enlarge)
Click to Enlarge Name: 19977368 GBPJPYM1.png Size: 72 KB
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  • #6
  • May 16, 2017 12:00am May 16, 2017 12:00am
EurJpy long and close quickly, I think big picture is bear

Attached Image (click to enlarge)
Click to Enlarge Name: 19844829 EURJPYM5.png Size: 88 KB
Attached Image (click to enlarge)
Click to Enlarge Name: 19844829 EURJPYM1.png Size: 80 KB
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  • #7
  • May 16, 2017 12:14am May 16, 2017 12:14am
Quoting wiserltz
EurJpy long and close quickly, I think big picture is bear {image}{image}
Hahaha
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Click to Enlarge Name: 19844829 EURJPYM1-1.png Size: 84 KB
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  • #8
  • May 16, 2017 7:42am May 16, 2017 7:42am
Quoting wiserltz
{quote} Hahaha {image}
Good to see you on GJ and EJ. Try EC, EA, EZ and GA as well. Don't worry too much about spread. What's a 3 pip spread when the price moves 50 pips in half an hour?

Only problem today was your timing. Market usually takes off after 7.00am (UK summertime) when Franfurt opens and really gets moving after 8.00am when London opens. Look at today's action. You'll see what I mean!
  • #9
  • May 16, 2017 8:09am May 16, 2017 8:09am
Quoting jmtini
{quote} Good to see you on GJ and EJ. Try EC, EA, EZ and GA as well. Don't worry too much about spread. What's a 3 pip spread when the price moves 50 pips in half an hour? Only problem today was your timing. Market usually takes off after 7.00am (UK summertime) when Franfurt opens and really gets moving after 8.00am when London opens. Look at today's action. You'll see what I mean!
Yes, I'm considering to set a rule: trade only after Franfurt open
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  • #10
  • May 16, 2017 9:25pm May 16, 2017 9:25pm
GJ short, I was pretty confident with the trade, hit my TP
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 20034442 GBPJPYM1.png Size: 73 KB
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  • #11
  • May 17, 2017 7:12am May 17, 2017 7:12am
GbpAud
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Click to Enlarge Name: GBPAUDM5.png Size: 112 KB
Click to Enlarge Name: GBPAUDM1.png Size: 93 KB
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  • #12
  • May 17, 2017 7:22am May 17, 2017 7:22am
Quoting wiserltz
GbpAud {image} {image}

Hi wiserltz

Your chart is very pretty but absolutely hopeless for trading. The "when" is easily answered if you had the right template! PM if you want to get it right
  • #13
  • May 17, 2017 7:43am May 17, 2017 7:43am
Quoting wiserltz
GJ short, I was pretty confident with the trade, hit my TP {image} {image}
I know there are 3 sources where orders came from:

1) Market maker, moving price to the areas, more or most buy/sell order, gap filling or something like that

2)Smart MM, knowing the "trend", stop hunt or ....

3)We retailers, the tick-volume came from? the part is very important, we are the target, anyway

It's very difficult to differentiate these, but quite surely if some one can do that, even part of that, he will be success.....

Just My humble ideas

wiserltz
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  • #14
  • May 17, 2017 7:46pm May 17, 2017 7:46pm
GJ sleepy trade
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Click to Enlarge Name: 20099891 GBPJPYM1.png Size: 86 KB
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  • #15
  • Edited 6:17am May 18, 2017 3:34am | Edited 6:17am
Like the new indicateor snake candle in one bar? LJ*(&IO&*JKJHG&U^^*(HI*(HJ*(G(*
Color bar represent tick-volume, don't ask me how to interpretate it, i don't know
Attached Image (click to enlarge)
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Attached File(s)
File Type: mq4 Snake Candles B1.mq4   31 KB | 306 downloads
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  • #16
  • May 18, 2017 5:23am May 18, 2017 5:23am
A classic "take a break and refill long orders", didn't take the trade, think the big picture was bear
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  • #17
  • May 18, 2017 6:20am May 18, 2017 6:20am
I know the big trend is down, but the bear liquidity seems “dry up”, so market maker trying bull to higher price to find more liquidity.
I see that, but CAN NOT do that, fear maybe, only take smaller lots, and closed my long with little pips
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  • #18
  • May 18, 2017 6:35am May 18, 2017 6:35am
Quoting wiserltz
I know the big trend is down, but the bear liquidity seems dry up, so market maker trying bull to higher price to find more liquidity. I see that, but CAN NOT do that, fear maybe, only take smaller lots, and closed my long with little pips {image}
Hahaha, MM gave me a second chance Hit my TP
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  • #19
  • May 18, 2017 7:00am May 18, 2017 7:00am
Quoting wiserltz
{quote} Hahaha, MM gave me a second chance Hit my TP {image}
Third one, enough, don't want to take part in the contest, which side will run out of money first, the market maker or the retailers
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM1-2.png Size: 94 KB
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  • #20
  • Edited 7:43am May 18, 2017 7:18am | Edited 7:43am
GA short open
Update: looked like MM was supporting price at RDH, already got 114 pips, manual closed it. Opened another one with small lots
Attached Image(s) (click to enlarge)
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