Box breakout pro scalping

[BeginnerJoe]

There was nothing wrong with that trade.

It was wrong because it was 180 degrees against my strat. Unfortunately my default mentality is one of casino stance still. That means my reflex is getting me into trouble even though intellectually I know how not to put myself in that situation. This can be trained out, and just takes some time. No great harm done however. It was a mistake that I could see was a mistake.

Anyway my long got knocked out at break even. There's still is a chance they are going to push it up as a sting on a friday tail, after first cleaning out some of the weaker longs.

 

[15 min tlb]

tlb, when you're scalping, forget about 4hr trendlines, they're meaningless when you're looking for 10 pips, you're going to bleed like a stuffed pig trading this way

I'll give you a highly profitable scalping method which will probably suite your style..FOR FREE!!

Start using Fibonacci, works great on IG advanced charts. Whenever EU moves by 30 pips or more then place a trade to retrace that movement back to the the fib 38% point (subtract spread from exit price though), if the price carries on past your entry then redraw the fib lines and still exit at 38% (your profit will reduce but you have a clear exit point)

You will make more pips scalping this way per day with far less trading...

I challenge you to find any movement on the EU on a m5 chart which has not retraced by 38%...does not matter where EU is trending, EU is highly liquid and never moves in a straight line...only use this for EU because it is so liquid and also avoid using it during major news events. Also works best when both US and Europe sessions are open 14:30 to 16:30...

Seriously, try it, give up on current method...please!!

Both weeks you have seen profitability and drawdowns in this thread.You have also seen very tight stops of as little as 6 pips.

You have to believe in your method.The problem with the suggested method is it results in getting caught counter trend counter trend , I have much experience of that type of trading .It is easier to scalp channels , but not very profitably in counter trend.Secondly a scalper should have a single clear mindset , and this method interferes confuses and clouds the other method.

The profitability of trading with trends is higher , as my results suggest .It is not the method , but the trader who makes mistakes , he fails.

I must say you have a good article here

http://www.trade2win.com/boards/forex/forex/trad...ml#post1246148

Why TA ‘fails’,It's traders that are profitable – not their methodologies ,

Why TA ‘fails’
To develop a methodology with a success rate of 65% or better, you must find ways to filter out the false signals. One way to do this is to look beyond charts, candlesticks and indicators and try to gauge market sentiment. Bearish sentiment will favour the reversal trader looking to short a double top, while bullish sentiment will favour the breakout trader looking to go long upon a breakout to fresh highs. The trader who is able to accurately and repeatedly gauge a confluence of chart pattern and market sentiment, stands a much better chance of long term success that a trader who lacks such skills.

Another way to filter out false signals is to look at the overall context in which they appear. To focus on chart patterns in isolation without looking at the big picture will, almost inevtably, reduce the success ratio of proftable trades to unprofitable ones. For more info' on this with examples, please read the FAQ: What Triggers do you use to Enter a Trade?

 

[15 min tlb]

I changed my signature to remind me continually to stick to my method.

Discipline my self to follow only my method , cut my losses fast ,keep losses small ,never add to a losing position,trade like a pro,there will be other better opportunities .

 

[15 min tlb]

This week I had a drawdown (71 pips lost )of 71 pips , but ended the week in profits.

Drawdown Definition | Investopedia

 

[15 min tlb]

This week I had a drawdown (71 pips lost )of 71 pips , but ended the week in profits.

Drawdown Definition | Investopedia

Scalper can be like this , I was like this yesterday.

The Crazy Nastyass Honey Badger (original narration by Randall) - YouTube

 

[15 min tlb]

Professional traders scalp here and with amounts of $500k per trade

Knight Hotspot FX

 

[15 min tlb]

Captain Currency has a better break out method

I am glad captain currency is doing well.He deserves it.

By now he must be making 100 pips a week consistently , at $300 per pip , that is $,1000 per hour.

50 pips is $5,000 a week , but by following the system correctly 100 pips per week is easy .After 3 months the account trades $150 per pip , and $200 after 6 months , after 9 months $250 per pip and after 12 months $300 per pip , using the extra profits.

 

[15 min tlb]

I scalp many different set ups , but if I mentioned them all it would confuse new traders.Keep it simple and stupid so even somebody as stupid as me can trade it easily.

The main set ups I use are in post no 2

http://www.trade2win.com/boards/forex/162600-box-breakout-pro-scalping.html#post2025236

http://www.trade2win.com/boards/att...out-pro-scalping-trend-retracement-method.jpg

 

[15 min tlb]

I scalp many different set ups , but if I mentioned them all it would confuse new traders.Keep it simple and stupid so even somebody as stupid as me can trade it easily.

The main set ups I use are in post no 2

1)Main set up
http://www.trade2win.com/boards/forex/162600-box-breakout-pro-scalping.html#post2025236

2)trend retracement set up
http://www.trade2win.com/boards/att...out-pro-scalping-trend-retracement-method.jpg

The professional and advanced scalping is done with the following additional set ups.

3)Squeeze pattern

4)trendline boxes

5)double tops and bottoms

6)triple tops and bottoms

7)quadruple tops and bottoms

8)triangles

9)Reversals

10)rounding bottoms and tops

11)price channels

12)cup and handle

13)breakouts

14)trendline price action like tweezer tops and bottoms

15)bullish engulfing and bearish engulfing

16)Support (after resistance becomes support)

17)Resistance (after support becomes resistance)

18)moving averages scalps and other price action patterns

19) flags

20)triangles

21)bearish kicker

22)bullish kicker

Technical Analysis: Support And Resistance | Investopedia

http://www.trade2win.com/boards/forex/162600-box-breakout-pro-scalping-37.html#post2034934

http://www.trade2win.com/boards/forex/162600-box-breakout-pro-scalping-9.html#post2029182

http://www.trade2win.com/boards/forex/162600-box-breakout-pro-scalping-9.html#post2029186

Chart Patterns - ChartSchool - StockCharts.com

Rounding Bottom (Reversal) - ChartSchool - StockCharts.com

Cup with Handle (Continuation) - ChartSchool - StockCharts.com

http://www.trade2win.com/boards/forex/162600-box-breakout-pro-scalping.html#post2025536

Bollinger Band Squeeze - ChartSchool - StockCharts.com

Candlestick Patterns | Top 10 Best Patterns For Traders

Top 10 candlestick Patterns | candlestickgenius.com

http://www.thepatternsite.com/CandlePerformers.html

You can see many videos on youtube by searching on above set ups

 

[random12345]

Professional traders scalp here and with amounts of $500k per trade

Knight Hotspot FX

I gotta say. I don't think you're as awesome as you make out, sorry.

You're a bit inconsistent with your posts, one minute you're betting £1 a point, next you're claiming you're an operation and using IG on the side for a laugh (FSA registered with specified activities I hope... they get a bit tricky about stuff like that?) and now you're peddling Knight Capital for big scale professional scalpers who are one of the few liquidity providers that actually nearly went down this year (they basically lost $440m in 45 minutes and had to engage Goldmans to unwind their awful crap, remember that? Someone forgot to reboot their newest HFT after installation ). Their market cap is so poor now they're exposed to a very real buy out. Don't know why you'd place more than 7 figures with them right now unless they last at least another year as an independent operation or until they get restructured within Goldmans or Getco. I'm not at all saying the money isn't safe, but being a creditor sucks. You can't go far wrong with IB for high stakes DMA...

You've posted a +VE thread.. well done.. but the other stuff doesn't add up. I think you're potentially on the right track, but not a big lot professional scalper, so why keep talking about them as if you're in the biz? You're going to find a lot more humps on your journey that need thinking about above what very big timers do, which is all supposition anyway. Not to mention 99% are institutional R2-D2s who can't hold a great conversation.

 

[x4x]

The system works and is kosher , you get drawdown periods .There is a trend .

You had a 71 pip drawdown, so it obviously doesn't. If you're spending all day, every day at the screen, best you profit from it.

Of course you've covered your backside by 'profiting' on your 'longer term trades', if you want me to believe that, best you call them out as well - a lot easier than calling your scalps, so should be easy for you.

The EUR/USD often has periods of extended consolidation which typically lasts 5 to 8 days - the 15M tf will be extremely difficult during these times due to multiple daily reversals, and will likely cause catastrophic drawdown. I haven't seen what I would consider extended consolidation on E/U since mid August, but it will occur again.

I'm really not here to give you a hard time, but I can tell that you are not anywhere near the Professional trader you claim to be, and I only became involved when you started to advertise your training services - which to me is wrong considering the stage that I feel you're at.

I could of course be wrong about you, you might employ trading staff, you might be trading a real account, you may have a single method which works in all market conditions, you may be applying several methods at once whilst also making numerous posts per day - you are the only one who knows the real truth.

As I said, I'm not here to fight with you so I'll leave you alone now, and genuinely wish you luck with your trading.

 

[15 min tlb]

I gotta say. I don't think you're as awesome as you make out, sorry.

Behind every genius is an ordinary bloke trying to express himself.

At least you can see where the ordinary blokes are heading.And if any of you want to make live calls based n this method , they will give you the experience and mindset of a genius.Mistakes are allowed and will only be supported and condoned.

Great traders do not need to write books or sell education, they can earn $50 k a week instead of writing a book for 6 months.Behind every authoring genius is an ordinary bloke trying to express himself.

 

[15 min tlb]

You had a 71 pip drawdown, so it obviously doesn't. If you're spending all day, every day at the screen, best you profit from it.

Of course you've covered your backside by 'profiting' on your 'longer term trades', if you want me to believe that, best you call them out as well - a lot easier than calling your scalps, so should be easy for you.

The EUR/USD often has periods of extended consolidation which typically lasts 5 to 8 days - the 15M tf will be extremely difficult during these times due to multiple daily reversals, and will likely cause catastrophic drawdown. I haven't seen what I would consider extended consolidation on E/U since mid August, but it will occur again.

I'm really not here to give you a hard time, but I can tell that you are not anywhere near the Professional trader you claim to be, and I only became involved when you started to advertise your training services - which to me is wrong considering the stage that I feel you're at.

I could of course be wrong about you, you might employ trading staff, you might be trading a real account, you may have a single method which works in all market conditions, you may be applying several methods at once whilst also making numerous posts per day - you are the only one who knows the real truth.

As I said, I'm not here to fight with you so I'll leave you alone now, and genuinely wish you luck with your trading.

Let me prepare for this choppy market when it returns.Thanks for your post and suggestions.When the trend turns , we will be ready next time with improvements.


The system is designed for trending markets and triggers mainly in trending markets.

 

[BeginnerJoe]

you might employ trading staff

He said in his other thread he's looking for trainees. So my guess is he's employing free trainees. He sounds as if he needs lots of them. I imagine they must be running away for some reason.

 

[Lightning McQueen]

He said in his other thread he's looking for trainees. So my guess is he's employing free trainees. He sounds as if he needs lots of them. I imagine they must be running away for some reason.

were they not freelance lithuanians or something similar? i seem to recall reading something like that.

yes probably ran off once they were taught the method, keeping it for themselves or selling it on. likely then that 15 min tlb wants someone a bit more reliable, with a bit more integrity to do his legwork for him this time round, rather than them disappear on him.

 

[BeginnerJoe]

were they not freelance lithuanians or something similar? i seem to recall reading something like that.

yes probably ran off once they were taught the method, keeping it for themselves or selling it on. likely then that 15 min tlb wants someone a bit more reliable, with a bit more integrity to do his legwork for him this time round, rather than them disappear on him.

I have integrity coming of my ears, being the official statements checker. I offered 15m my service as a free trainee. But there was no interest. I don't think integrity is what he wants. I reckon he's after some faithful believers.

 

[15 min tlb]

He said in his other thread he's looking for trainees. So my guess is he's employing free trainees. He sounds as if he needs lots of them. I imagine they must be running away for some reason.

I have paid trainees for swing trading , but scalping is difficult for them.You can train for free on this thread with your live calls , using this free method.6 months hard work and the world is your oyster.

These trainees can run away without the sixth sense , come back after blowing their accounts .Sixth sense comes after years of screen time.


sixth sense
A power of perception seemingly independent of the five senses; keen intuition.

 

[15 min tlb]

I have integrity coming of my ears, being the official statements checker. I offered 15m my service as a free trainee. But there was no interest. I don't think integrity is what he wants. I reckon he's after some faithful believers.

Make some live calls on demo or live , show me the proof of your abilities .Keep a running total of your profits on this system/method.

After 6 months of making 25 pips a week @$50 , you won't need me.

 

[BeginnerJoe]

My first trade today is a gap closing strategy. I heard about it from ChocolateDigestives aka CustardCream and no idea why it should work. Sometimes it doesn't. But today I think it will.

I had a quick 40+ pips profit that I didn't take because I wanted to recover my Friday's 45 pip loss in full plus interest. If the gap closes, I will have what I want.

 

[BeginnerJoe]

Looks to be only 60 pips in it altogether and the gap is only half closed while EUR appears to be halting a decline. Sold for +50 pips to preserve my stated goal.