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Scalpers and short termers...

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Keep it up. Acopolypto! Learnt some new and good lessons from the link you provided. By the way, any more tips on exit good potential extenties entries?

Cheers
 
if im looking to enter on an upward trend when the market is seemingly oversold- i will exit when it seemingly is overbought.
 
Stormin_Norman said:
if im looking to enter on an upward trend when the market is seemingly oversold- i will exit when it seemingly is overbought.
Click to expand...

Is that to say you won't have an initial stop in place when you enter a trade, be it at a prior swing/pivot high or low for example?
 
Hi Apoc,

Just trying to line up your chart with mine :) Which broker is that chart from or better yet, what time of the day here in Oz are you using the method ?

I am presently trading around 3.30pm to 7.00 pm looking for 40 pips a day (average). In reality I would be very happy with 100 a week as long as I can do it with small stops so that I can increase my pip size.
 
Hi Norman,

I have the idea, had it for quite some time actually :)

I was just having trouble lining up the appearance of the charts, most people who trade short term usually trade a busy time of day. UK open for example then through to the USA session, not usually GU in the asian session as it appears to be on Apoc chart, so I thought I would ask.
 
very true. i more more meaning, its not an exact science and i think there is more to gain from developing your own market 'story' as opposed to just copying another.

who knows, your differences might prove to be advantageous!
 
Great ideas SN, I take it you are having success with mean reversion type plays on larger scale? Would certainly be great to get away from the current focus by ea's on the asian small stuff!
 
today/tonight, dropped the indicators.

all focus on the slope and the pa on the trend. also big thing I am finding best to wait for the price to really shape the slope then ent on a signal.

refer to chart.....

1. great slope L1 off the mas held this one- win.
see the circled crap. i dont take signals of 9ema after a move like that and after a signal off the 18ema. sat out bars in the range way to wide more reason to sit out.
2. risky one. wide bar, but i liked the slope had to wait exited early as retrace freaked me out. win
3. strong slope retrace to 18ema. win
4. very strong slope off the 9ema a little risky but took it as first retrace on a run away rally. win
5 to many wins sends u blind! silly trade average slope not off mas did not leave enough time to confirm slope. LOSS
6. good slope into ma area. win
7. good slope into area pasted 1st retrace as not near mas. i was in on bar after small one. the enter into ma area confirmed it for me to hold (careful doing that though, a little impatience on my part in truth). win

much better tonight. tell u all the truth you don't need the indicators if you can wait on the right set ups ! Trade 5 was a mistake but I made it.

you will always lose a few in scalping that is a given. I judge myself on how and why it was a loss. If the market called my bluff and took me out I live with it. If I trade like an idiot and the loss is a bad trade on my part that's a different story.

good trading
 

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macca said:
Hi Apoc,

Just trying to line up your chart with mine :) Which broker is that chart from or better yet, what time of the day here in Oz are you using the method ?

I am presently trading around 3.30pm to 7.00 pm looking for 40 pips a day (average). In reality I would be very happy with 100 a week as long as I can do it with small stops so that I can increase my pip size.
Click to expand...

the chart is from ACT they run on Californian time i am 98% sure.

in terms of lining it up. I start looking to trade at 3:30-4 pm Melbourne time. 1 hour before London opens trade till 8:30 MEL time with breaks.

for interbank and session times see link below.
http://fxtrade.oanda.com/resources/fxmarket hours/

**take the space out form /fxmarket and hours**

Stops I use a 10 pip stop on cable most of the time but i close manually. this part comes down to u.

cheers,
 
MRC & Co said:
lol, na, I was up late being attacked by the hot crude oil pit! :(

One day I am gonna walk in there with enough size to set their stops off!
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hot --- crude --- attacked --- oil ---

mmm..... i've heard about girls like that !! :kiss:
 
Hi Apoc,

Thanks, I am starting at around the same time then, 3.15pm to ???????

I was confused because I have never seen a feed with times like that. Most are either GMT or USA Eastern End of Day (Wall st time)

Thanks for the examples, the principle is the same as a few things I am working on, move (trend), pull back, continuation.

I am getting better at taming this beast :)
 
Hi apocalypto,

The link provided fllor trader. 9 and 18 MA's are for futures. Is there a variation of this MA's in currencies. Special settings? Any extra incator you use to filter the trades.

Thanks
 
macca said:
Hi Apoc,

Thanks, I am starting at around the same time then, 3.15pm to ???????

I was confused because I have never seen a feed with times like that. Most are either GMT or USA Eastern End of Day (Wall st time)

Thanks for the examples, the principle is the same as a few things I am working on, move (trend), pull back, continuation.

I am getting better at taming this beast :)
Click to expand...

any time you want to trade is up to u.

I look at 3:30-4pm to 8:30 pm as I have noticed it's the most liquid, each day is different though.

what pair are you trading? I am focusing on the cable but also looking at GBP/JPY. I want to end up on the GBP/JPY when I have a good handle on this.

Moves a hell of a lot more. on the other side can take a lot more from u as well.

look at morning and Asian session today great clean moves.

1. is the trade I took this morning.

circles some other qualified set ups IMO

cheers
 

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cashflow_08 said:
Hi apocalypto,

The link provided fllor trader. 9 and 18 MA's are for futures. Is there a variation of this MA's in currencies. Special settings? Any extra incator you use to filter the trades.

Thanks
Click to expand...

Cashflow,

The original plan was to trade the Dow Jones EURO STOXX 50 future on Eurex.

This method works on any market ans time frame. I have been into FX for the last 2.5 years and after looking at the 1 min cable I noticed it suited it well, GBP/JPY even better IMO. I use 9 and 18 ema like method advises but you can mix it up,whatever feels right for u.

One thing I have to say if you want to trade FX under 5min you need an ECN broker with interbank spreads. If you try it with 3 or more on the cable for instance you will die in spread costs. Futures as well you need to trade the actual.

just remember mate. what i prefer and suites me may not be for u so mix up the markets and time frames. Your personality may differ form mine so 1min on cable and other more aggressive pairs may not be right for u. You have to find what fits in with you.

Good Trading
 
Hi,

<<what pair are you trading? I am focusing on the cable but also looking at GBP/JPY. I want to end up on the GBP/JPY when I have a good handle on this. >>

I am trading GBPUSD (cable ) I have looked at the GJ but the spreads are bigger as are the moves, so I will stick with GU for now.

I find it a nice middle ground, more moves than EU but not as many as GJ.
 
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