Learn to be a Scalper - page 24

[Monarch]

Just watching, Spiked up first, THE FAKE LOL.

Then hammered those longs on the big FALL.

Now watching if this will hold short, or just come back to the middle of that whole move.

[Monarch]

Could not resist, took +5 pips (1 lot) since I was at the 500 Goal NOW....

That was a funny move, so predictable on the move up fake, then drop to low before news was released, then back into the middle.

COME ON GUYS, don't be that easy....

[Monarch]

marduk:
My account is going down. lolI would like to GUESS the direction of the market, do you have an indicator for that? I'm joking.You really make a good point.In the past months I've been following some indicator based strategies that work, but as I stated early on, I think that this thread is the one that really can make me grow as a trader.It might take some time to trade as the concepts explained here, but I think that this strategy is the best for one that wants to scalp for a living.It's simplicity is what makes it perfect to invest in learning it, because you won't have things like "indicator xpto v2.1.6.5 new release that reacts better to this and that kind of market". It's simple and even if you like, would be possible to cross with some other strategy that you currently use.This is just my opinion.

Do you have the xpto indi, I am not familiar with it, what does it show??

Once a trader decides in the style they are going to trade, they need to concentrate on certain patterns, movement, candle forming and formation, sup/res reaction, bounce from those areas, and breaks of those areas.

Screen time is always good, I have been in a habit of watching 1m, 5m, 15m, 1hr, 4hr all at the same time for years, so I can see how the (3) 5m candles are forming the 15m candle, and also smaller and larger time frames.

I have also done some session recording and played those back at 100 speed, to watch patterns over and over, and to identify the setups way before they actually form, that is why many times I am in a trade before the indicator shows, I am trading off of memory of pattern recognition.

Sure there are going to be losers, that is okay, because I am over 80% on my win to loss ratio, and I know I could really blow it here today and lose 30 pips, but that would be nothing compared to the 500 I have already gained.

I stick with goals each day, once those are reached, then I am free to play more, but the key is to keep your daily goal locked in. So if you lose some, you need to make some to stay in that Daily/Weekly goal.

[Monarch]

Well it is only Wednesday evening here, and still a little time left in this week.

I have made my goal this week, after I increased my lots to 2 per trade, it really pushed me up quick.

Now back to 1 lot trades the remainder of this week.

Weekly Total

95 Wins 13 Losses
+555 pips (after spread and losses) (based on 1-10.00 lot size)

My weekly goal is 105 pips, which I have done for the past few years with no problem, this week I am shooting for 500 pips by Friday.

0 pips remain to WEEKLY GOAL

[Monarch]

After a string of 6G, there are 2R retracement in progress.

I have several ideas of where it should go, but that is not hard to figure out, it will only go several ways, UP, or DOWN, or sideways a bit before UP or DOWN.

I am watching these areas from the 15m on the 1minnow, since I have my lines already pre marked and on the ready.

[Monarch]

Right after posting this 15m chart, the 1min gave a breaking bar, that came after the slowing down of that last move up.

Note how the 1m candles got smaller and could not rise, it gave in and dropped quick to give me + 3 pips, I forgot I had my preference at 2 lots, I am changing that now. LOL

Here are the entry and exit 1m chart, with the 15m markings on from the previous post.

[Monarch]

I missed the long on the lower trend line bounce, it was just as nice as the short.

What can we say, many scalping pips already this week, I am trading now to give pics for the thread, money is of no concern this late in the week.

Weekly total updated Post #235

[Monarch]

Looking for shorts to the 3790 area.

Needs to stall below 3806 area, there is lots of pressure on the 5m support, just a spike will take it to 90 below.

[Monarch]

Okay, I was in 3 shorts there on that move that spiked up to 3809.

I was still playing 2 lots, and really just bored here.

I have these crazy kids driving down my road hitting all the mud holes, and had to run out to scare some of them off..........

Here is 4 charts showing E1, E2, E3, and exit of the 3 entries.

It was not pretty, but it was profitable, just have to let it bounce on you a bit before getting paid.

+7 = +14 pips

+4 = +8 pips

+2 = +4 pips

Totals on Post #235

The key is WINNING I guess

[Monarch]

I am just updating trade totals on Post #235.

Too tired to post charts, or even make them at this time.

I have gotten a few losses, but my gains are still outdoing them, and the pips are slowly adding up.

I have taken about 10 trades the past few hours.