Calling all scalpers!!!

S

ScalpingRus

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Good morning all.
My name is James, and I am currency trader, who only focuses on scalping. Although I look at forums as I await the proper setup for entry, trading gets rather boring, and I simply wanted to know if anyone knows of any chat rooms which one could join which caters to scalpers.
If we have enough interest to scalp, then I can simply open a skype group, or a php chat room in order for us to share ideas and trade together. For those who would like to see the scalping I do, please have a look at the link within my signature.

Hope to hear from you guys soon,

Paul.
 
good luck dude ............check out forexperians thread here ..........he has a pretty good track record.......and a few of us also tag along for the ride as well

N
 
NVP said:
good luck dude ............check out forexperians thread here ..........he has a pretty good track record.......and a few of us also tag along for the ride as well

N
Click to expand...

Thank you so much for pointing me in the right direction.
 
I aim for 2-4 ticks per trade in /ES. It's not hard when you have such small targets, as opposed to trading for 2-4 points. Use range bars so you can visualize the volatility and have tighter stops.
 
drtro said:
I aim for 2-4 ticks per trade in /ES. It's not hard when you have such small targets, as opposed to trading for 2-4 points. Use range bars so you can visualize the volatility and have tighter stops.
Click to expand...


I also trade the same way. I typically await patters after breakouts, which setup for the new breakout. Many people contend that trading for small pips is murder because of the wicks, but the reality is you have less wicks inside of the accumulation structure, compared to when the market is actually breaking out.
 
ScalpingRus said:
I also trade the same way. I typically await patters after breakouts, which setup for the new breakout. Many people contend that trading for small pips is murder because of the wicks, but the reality is you have less wicks inside of the accumulation structure, compared to when the market is actually breaking out.
Click to expand...

Scalping on time based charts is stupid anyways in my opinion. Use range, renko, or tick charts to eliminate the noise. I don't know anything about FX. I trade /CL for income. Just getting into /ES because there's more liquidity there. I aim for 24-25 ticks a day in /CL. I did use range bars but I'm switching over to Renko 4 bricks.
 
drtro said:
Scalping on time based charts is stupid anyways in my opinion. Use range, renko, or tick charts to eliminate the noise. I don't know anything about FX. I trade /CL for income. Just getting into /ES because there's more liquidity there. I aim for 24-25 ticks a day in /CL. I did use range bars but I'm switching over to Renko 4 bricks.
Click to expand...

The problem with renko is you can not see the wicks. Believe it or not the candles with any sort of wick is very important in scalping. What you call "noise" is your message to take a position. Why? It means limit orders are being activated and you see 10-20 pips before you see a retouch of the starting breakout price. Thus the name "breakout" meaning the only constant the market has is in a breakout one price sets off a rush towards another specific price. Understanding wicks, and how they play a roll in burst trading is the "need to know", and when a person calls it "noise" then that person is ignorant to the conditions in which the market works in. How does a person get a 1:200 reward growth, no one ever expects to hit it, but when it happens one should take notice to it. The market runs in loops. #AttackTheLoop
 
ScalpingRus said:
The problem with renko is you can not see the wicks. Believe it or not the candles with any sort of wick is very important in scalping. What you call "noise" is your message to take a position. Why? It means limit orders are being activated and you see 10-20 pips before you see a retouch of the starting breakout price. Thus the name "breakout" meaning the only constant the market has is in a breakout one price sets off a rush towards another specific price. Understanding wicks, and how they play a roll in burst trading is the "need to know", and when a person calls it "noise" then that person is ignorant to the conditions in which the market works in. How does a person get a 1:200 reward growth, no one ever expects to hit it, but when it happens one should take notice to it. The market runs in loops. #AttackTheLoop
Click to expand...

I switched to 233 tick Heiken Ashi. Scalping higher lows long and lower highs short. Goal is 6 points a day
 
ScalpingRus said:
The problem with renko is you can not see the wicks. Believe it or not the candles with any sort of wick is very important in scalping. What you call "noise" is your message to take a position. Why? It means limit orders are being activated and you see 10-20 pips before you see a retouch of the starting breakout price. Thus the name "breakout" meaning the only constant the market has is in a breakout one price sets off a rush towards another specific price. Understanding wicks, and how they play a roll in burst trading is the "need to know", and when a person calls it "noise" then that person is ignorant to the conditions in which the market works in. How does a person get a 1:200 reward growth, no one ever expects to hit it, but when it happens one should take notice to it. The market runs in loops. #AttackTheLoop
Click to expand...
I trade off Renko bars which include the wick (Ninjatrader). Like you, I see the wicks as important. I believe there are MT4 indicators for Renko + wick

What do you mean by attack the loop?
 
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The renko expert advisor i use in Metatrader has the option to show wicks as below
 

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Another James here....Been scalping the Treasuries for some years now, don't however have the edge I used to have but thats the same for the equities guys too.

If you have a book by Bob Volman, please burn it....it's not scalping, whether you make any money from it or not
 
I don't understand how you can scalp currencies effectively, especially with all the OTC and interbank rigging that goes on in those markets.

Personally I scalp futures through pure order book methods and only stay in a trade a maximum of 2-3 minutes, sometimes seconds. This works out well when you realise the potential arbitrage opportunities between the European and US equity indicies
 
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