Price Action Scalping

[Mike Kshemaraja]

This is a visual thread only, scalping any instruments.

The idea is to show your thoughts, how you trade and learn from others visually.

If you like to be part of it, introduce yourself and tell us why you want to be part of it.

Most of the comments should be accompanied by a visual or chart.

Please post winning and losing trades alike, they are both very important.

I do not believe in concepts, they limit our view.

Only post when is convenient, myself I will not posting while I am trading, I tend to lose focus.

Healthy and honest comments on others trade is encouraged, as are a sense of humor, compassion, altruism and companionship.

Bullying, vulgarities, cheap sarcasms and narrow minded attitude of any kind that could offend others for any reason will not be tolerated here.

The idea is to grow together scalping, sharing what we perceive based on our own experiences (there are not secrets in trading).

Let's see if we can achieve something decent.

“If you want to learn something, read about it.
If you want to understand something, write about it.
If you want to master something, teach it.”

Mike

 

[Trembling Hand]

What do you consider as scalping? Most who claim to scalp actually only use it as term so they can cut a trade short due to being over leveraged. I consider scalping doing 10 to 50 trades an hour a couple of hours a day. I personally think scalping can only be scalping once the frequency is up to these high number of RTs.

 

[Mike Kshemaraja]

What do you consider as scalping? Most who claim to scalp actually only use it as term so they can cut a trade short due to being over leveraged. I consider scalping doing 10 to 50 trades an hour a couple of hours a day. I personally think scalping can only be scalping once the frequency is up to these high number of RTs.

Trembling

I thing your is a good question, but what you perceive is not necessary what others perceive. I do not want to turn this thread in what is right and what is wrong. I will post my two Friday's trades and maybe you will understand what I mean by scalping.

This is a visual thread only, please re read my introduction post, have a look at my trades and if you want be part of it, introduce yourself. I will be very happy to work with you.

Mike

 

[Mike Kshemaraja]

The overall trend was up (not visible), she pulled back to the round number (1.3150), she formed a kind of block with little pre-tension. I got in risking 9 pips, (a bit too much for my taste), she went a bit up and I trailed my SL to 5 pips.

She pulled back and I got stopped out, -5 pips.

 

[Trembling Hand]

I will be very happy to work with you.

Thanks but,


Never mind. Carry on.

 

[Mike Kshemaraja]

Second and last trade of the day:

She broke out a range, pulled back to the average and to the previous resistance turned support (left side of the chart), I got in 1 pip above the bar that bounced through the average. My SL was placed just below that bar (5 pips) with a target of 10 pips.

This time worked my way, +10 pips.

 

[Mike Kshemaraja]

The chart I posted are based on the 70 tick charts. (about 30 seconds TF)

When I enter the market my SL and TP are automatically set at 10 pips, then I adjust my SL to the tipping point.

On average my SL are about 7 pips and my TP are about 10 pips.

 

[Mike Kshemaraja]

The idea is to selective with your trades, with a loss average of 7 pips and with a win average of 10 pips, a 50% RR will make the account grow, myself I risk not less than 2% per trade, but is very much suggested to risk much less if you do not know what you are doing.

Have a nice Sunday.

Mike

 

[Mike Kshemaraja]

While scalping is important to keep a neutral view, because the slightest presence of bias may alter the trader's ability to make the correct valuation of the subtleties of price action.

 

[Mike Kshemaraja]

My trade of the day.

Missed the first break (just before my entry) by lack of focus.

She then pulled back formed a nice block, +8.2 pips.

 

[tech/a]

Hmmm
Disappointing
Thought this was
Price action scalping.
Oh well--- carry on.

 

[Joules MM1]

My trade of the day.

Missed the first break (just before my entry) by lack of focus.

She then pulled back formed a nice block, +8.2 pips.

Mike, i see you posting on other chat sites......and you refer to your trades as scalps......in this latest one you have consumed 45 minutes of time for the scalp.......could you please explain to me, like i am a six year old, how this transaction is a scalp and how you use time as a component.....i'm guessing that the difference is crucial from a professional income pov......im guessing as, when i scalp, i am looking bars to open and close and take the momentum of the bars rather than riding price as you appear to have done here, i mean, maybe you are doing something that's different, or, maybe you have a defined risk profile i'm just not getting.....

 

[Joules MM1]

Hmmm
Disappointing
Thought this was
Price action scalping.
Oh well--- carry on.

tech, you do that posturing thing a lot.......try some constructive questions instead.....

 

[CanOz]

could you please explain to me, like i am a six year old, how this trade is a scalp

LOL!

Perhaps he could even do a few RT, and lose the hindsight?

CanOz

 

[Joules MM1]

scratch that.....he's opening dialogue.....

 

[Joules MM1]

LOL!

Perhaps he could even do a few RT, and lose the hindsight?

CanOz

Mike,
i see a few transactions under the thread title of price action scalping over at Trade2Win and they all look like long positions in a trade set-up rather than a pick n roll or scalping of a bar.....they still appear to be momentum pattern trades, more defined by break-out characteristics and exiting at overhead resistances.......is that the way youre seeing them?

 

[Mike Kshemaraja]

Mike, i see you posting on other chat sites......and you refer to your trades as scalps......in this latest one you have consumed 45 minutes of time for the scalp.......could you please explain to me, like i am a six year old, how this transaction is a scalp and how you use time as a component.....i'm guessing that the difference is crucial from a professional income pov......im guessing as, when i scalp, i am looking bars to open and close and take the momentum of the bars rather than riding price as you appear to have done here, i mean, maybe you are doing something that's different, or, maybe you have a defined risk profile i'm just not getting.....

Hi there.

People with your age should be to bed right now.

Yes I have been posting somewhere else under the same name, I am still trying to find a spot that suits me best, LOL.

People mean different things, is just a matter of perception.

My trades can last a couple minutes to about an hour, my chart is based on 60 ticks chart or 30 seconds, I tend to make about 3 to 4 trades per day.

This for me is scalping, if you do not agree, well that is your prerogative.

Mike

 

[Mike Kshemaraja]

Mike,
i see a few transactions under the thread title of price action scalping over at Trade2Win and they all look like long positions in a trade set-up rather than a pick n roll or scalping of a bar.....they still appear to be momentum pattern trades, more defined by break-out characteristics and exiting at overhead resistances.......is that the way youre seeing them?

We can spot all over the chart continuous battles between bulls and bears specially on the smaller time frame.

As a retailer we do not have the luxury to engage into the battle, but we have the possibility to enter the market once one of the part lets go of the rope creating a double pressure where the losing bulls become bears and viceversa.

 

[Mike Kshemaraja]

Hmmm
Disappointing
Thought this was
Price action scalping.
Oh well--- carry on.

Well was nice meeting you. Good luck.

 

[Mike Kshemaraja]

LOL!

Perhaps he could even do a few RT, and lose the hindsight?

CanOz

Hi there, I do not want to be rude, but you do not have to participate to this thread if you do not want to.

I think that is a fear deal, isn't it?