Price Action Scalping

[CanOz]

I'm thinking the HSI is looking like consolidation before another drop lower....i wonder if TH would give us his take?

The Aussie may be a little quieter (if thats possible) over HSI lunch.

CanOz

 

[Mike Kshemaraja]

Priceless!!!

Trenbling

Welcome back, I have corrected my grammar, now reads: I am not selling anything. LOL

You also welcome to show how you trade, actually I am getting kind of interesting, I remember you saying that you hold a different view regarding "scalping". Please feel free to articulate in depths, you never know what tomorrow will bring.

Mike

 

[CanOz]

We've had an entry triggered, but then for some reason Multicharts took us out. This is the first time i've used the chart trader on MC so i may have made a mistake. We'll try again, but now it seems IB is changing servers or something...some data issues.

CanOz

 

[CanOz]

I think IBs sim is giving me bad fills again....i may have to switch to NinjaTrader and use their sim account.

CanOz

 

[CanOz]

OK, we're in this time.

 

[CanOz]

Still in and probably shouldn't bem however i managedto lock myslf out of the apartment for 30 minutes....

Anyway, its retested the break, we moved out stop down asthe indicator line was broken giving us a warning of trend change.

Tricky time with the DAX open.

CanOz

 

[Mike Kshemaraja]

Still in and probably shouldn't bem however i managedto lock myslf out of the apartment for 30 minutes....

Anyway, its retested the break, we moved out stop down asthe indicator line was broken giving us a warning of trend change.

Tricky time with the DAX open.

CanOz

Also Draghi is talking (5pm).

 

[CanOz]

Stopped out of our Aussie short for -7.5 pips, Long on the EUR now.

 

[CanOz]

Stopped out of the EUR for a 7.5 pip profit, but we left some on the table. I think we should have taken profit at the top of the channel but i was having a little nap... You can see how i make a better system trader...

Anyway, even for the arvo.

We could go short but its close to lunchtime EUR time so we'll let it drift and look for a pattern after their lunch is over.

cheers,


CanOz

 

[Mike Kshemaraja]

Stopped out of the EUR for a 7.5 pip profit, but we left some on the table. I think we should have taken profit at the top of the channel but i was having a little nap... You can see how i make a better system trader...

Anyway, even for the arvo.

We could go short but its close to lunchtime EUR time so we'll let it drift and look for a pattern after their lunch is over.

cheers,


CanOz

Can

Good work.

No trades for me fo today, I have been working for about 5 hours. Maybe I missed a few good trades, but hey is all easy in hindsight.

I have been a bit busy though, trying to connect my brokers data with Amibroker and I think I will have (hopefully) a solution to read the 70 tick charts.

I am done for the day.

Mike

 

[CanOz]

Can

Good work.

No trades for me fo today, I have been working for about 5 hours. Maybe I missed a few good trades, but hey is all easy in hindsight.

I have been a bit busy though, trying to connect my brokers data with Amibroker and I think I will have (hopefully) a solution to read the 70 tick charts.

I am done for the day.

Mike

Good luck with that. I use IB and although it does interface i don't use Amibroker for Intraday, only my EOD systems.

Not a very good start to the thread on my behalf, but at least we didn't lose any money on paper lol!

I hope some of the others may chime in with a few rules to better set the profit targets etc.

CanOz

 

[Mike Kshemaraja]

Good luck with that. I use IB and although it does interface i don't use Amibroker for Intraday, only my EOD systems.

Not a very good start to the thread on my behalf, but at least we didn't lose any money on paper lol!

I hope some of the others may chime in with a few rules to better set the profit targets etc.

CanOz

Can

My broker has got a 0.7 pips (no news) for eurusd.

The data is supplied via DDE, I am able to to view the data already in AB without the pipette (important for what I do) on the 1m TF.

AB is telling me that I need to upgrade for the tick chart. I will keep you informed.

I think you did well today, keep it up.

Off to the second half of the semifinal (Barcelona v Chelsea)

Mike

 

[CanOz]

Another attempt at the EUR...i'll try and stay awake this time. Profit target is 1.3259

Cheers,


CanOz

 

[CanOz]

Target hit.

 

[Mike Kshemaraja]

She pulled back to the ema, got in, she then stalled and I got stopped out, -6 pips.

 

[CanOz]

Watching for it to consolidate here. If it does maybe we can catch another break to 1.3287 ish.

CanOz

 

[CanOz]

Nice little flag here on the 5 min. Data out in 24 minutes.....ho hummm

 

[CanOz]

didn't like that data.....wish i had been short...

I like watching tha DAX and EUR at the same time. The DAX just busted a trend line after the data, but the flag on the EUR was looking bullish, you've got to play to the two together i reckon. Keeps you out of trouble.



CanOz

 

[Mike Kshemaraja]

Ok, I am not having a very good day, today. I feel like I am not in sync with the lady.

This is my 4th trade, lost the first 3 and this is my last and only winning one.

She broke a support barrier (not visible), the trend down was nice and clear, the pullback was a bit horizontal but nevertheless I took the trade at the formation of the 4 dojis. I got very close to get stopped out, but this time the fortune was on my side.

My SL was at 5 pips and I made 10 pips.

I do not consider this a great day, but on the bright side is important to mention that with 3 losing trade I had about -15 pips combined and with 1 winning trade I gained 10 pips.

Can, this is the tick chart, with data supplied from my broker to Amibroker, first day, seems good.

Mike

 

[CanOz]

Yeah, seems to work ok. I don't really like trading FX, to me its a bunch of noise when its not counter trend. Very rarely do i see opportunities like the indexs present.

Anyway, its a bit of fun to test out a new system.

I'd rather be trading an automated system, i always second guess myself too much. I'm surprised i stayed in that last trade of mine and didn't jump out before it broke.

CanOz