foxmajster
Member
- Messages
- 55
- Likes
- 0
nice downtrend today with quite some nice setups. Also busy myself with work so did not catch any...
Price Action Scalping
- Thread starter Mike Kshemaraja
- Start date
- Watchers 20
nice downtrend today with quite some nice setups. Also busy myself with work so did not catch any...
Mike Kshemaraja
Established member
- Messages
- 852
- Likes
- 63
nice downtrend today with quite some nice setups. Also busy myself with work so did not catch any...
Yes, Days like this you can have nice 3 or 4 winning trades in a row.
What kind of work do you do?
foxmajster
Member
- Messages
- 55
- Likes
- 0
IT, so I am at computer most of the time. Though that does not mean I can look at the charts all the time. Do you trade for a living?
Mike Kshemaraja
Established member
- Messages
- 852
- Likes
- 63
Yes, kind of.
Mike Kshemaraja
Established member
- Messages
- 852
- Likes
- 63
Fox
You are going to be a good trader, I know already.
How old are you?
You are going to be a good trader, I know already.
How old are you?
foxmajster
Member
- Messages
- 55
- Likes
- 0
not too young and not to old for trading
in thirties ...Thanks for good wishes I am working on it.
Speaking of which - here is another one. TP/SL both 9 pips, although closed it prematurely for 1 pip loss. Although the last trend was up it was pointing down, but did not go enough.
Mike, what do you think about it?
Attachments
foxmajster
Member
- Messages
- 55
- Likes
- 0
They are getting my interest. It seems that they work also with NinjaTrader which is recommended for scalping though I am not familiar with it. I'm gonna explore it a bit..
Mike Kshemaraja
Established member
- Messages
- 852
- Likes
- 63
not too young and not to old for trading
Thanks for good wishes I am working on it.
Speaking of which - here is another one. TP/SL both 9 pips, although closed it prematurely for 1 pip loss. Although the last trend was up it was pointing down, but did not go enough.
Mike, what do you think about it?
Yes, could be part of the deal (entries).
I say could because the overall condition needs to be taken in consideration, a trade like that I would take if prices are bouncing in a range environment, other wise to many support to may to TP.
Mike Kshemaraja
Established member
- Messages
- 852
- Likes
- 63
Yes let me know how thing work with Ninja, I am interested, is Ninja Free?
I am also looking at Hirose, spread are good as well, I own a charting software, Amibroker (which is very affordable) and seems that Amibroker can read their data thought DDE, for the tick charts.
I know nothing about all this, I am learning as it goes, I was trying yesterday to connect but without luck, you are an IT, see if you can make sense of it.
Mike Kshemaraja
Established member
- Messages
- 852
- Likes
- 63
Mike Kshemaraja
Established member
- Messages
- 852
- Likes
- 63
"The best trades are made without thinking, when you surpass the concepts, the knowledge and you reach the subconscious, where creativity and instincts lays and connects you to Greater Energy. Once you there you flow, there is not contraction but only expansion to enter the doctrine of vibration. Yes, trading is very much knowing yourself and the realisation of one helps the other."
Mike
Mike
Mike Kshemaraja
Established member
- Messages
- 852
- Likes
- 63
A Trading Fairy Tale...
"Once upon a time there was an enchanted land called Marketland where a fascinating game called 'The Market was played most days. And the thing about this game was that it would go up or down every day and the players would make bets about the outcome -- very simple game.
But there were complications, which had to do with the fact that all the players in Marketland had opinions about which way the market would go.
And not only opinions: The players had systems, methods, evidence and analysis to back up their opinions. They had Dactyl numbers and Pdontiff waves, Xandom lines and Zigdar harmonics. They had the legacies of the old masters, Oerbot and Caljen. They had inventories and earnings, money-flow studies, astrology charts and the benefits of 4th-order spectrum analysis, all of which was extremely fascinating. Yes indeed, the players had many marvelous things.
The problem, though, was that sometimes the methods called for the markets to go one way and it would go the other way. This never failed to astonish everyone concerned, and there were many long discussions about how or why the market could be so perverse. However, it was usually agreed that this had just been a temporary aberration by the market and that the methods and analyses were as good as ever.
But one afternoon something happened to one of the players, a man named Mr. Beright. And he was never the same again. Mr. Beright had made a detailed study of Azerhof numbers, becoming one of Marketland's recognized experts on the subject. And the Azerhof numbers were now quite plainly stating that the market needed to go up, so Mr. Beright had taken a solid long position.
Unfortunately, quite soon after Mr. Beright had gone massively long, the market started down. This did not worry Mr. Beright excessively, since he realized the market had to go up. But the market (strange creature that it is) wouldn't pay any attention. It kept going down. And down. And down. And Mr. Beright (understandably, since we've all lived through these moments) got quite anxious and depressed. But he knew it would all get better very soon, just as soon as the market turned around and went the way it was supposed to go.
Now all good fairy tales have children in them and this one is no exception. Mr. Beright, it turns out, had a beautiful five year-old-daughter named Herenow, and just as he was contemplating his sad fate, Herenow walked into the room. Sensing that something was wrong, she asked, "what is the matter daddy?"
"Oh nothing, darling, you wouldn't understand. It's just that the market is supposed to go up and it hasn't yet."
"Is this the market daddy? This line on the screen here?"
"Yes." Little Herenow went over and peered intently at the jagged line on the screen. And the she said:
"Well daddy, I don't know anything about the market. But it certainly seems to be going down."
Well dear, that's why you don't understand. You see, the Azerhof numbers say that absolutely, positively the market has to go up here."
"I know, daddy, but right now it seems to be going down."
"Not only that Herenow, but the Melinxar frequencies state unequivocally that the market has got to go up here."
"I know, daddy, but right now it seems to be going down."
"You don't understand, darling. When the Azerhof numbers and the Melinxar frequencies agree, the market has got to go in that direction."
Little Herenow looked puzzled. She went over and peered at the screen once more.
"I don't understand all those things you're talking about, daddy, and I don't understand the market, but right now it seems to be going down. Doesn't it?
Mr. Beright paused and looked carefully at his five year-old daughter. "Would you say that again, Herenow?"
"Just that right now, daddy, the market seems to be going down. That's all. Did I say something wrong?"
"No dear...not at all."
And at that precise moment something snapped in Mr. Beright. All those years of studying Azerhof numbers and Melinxar frequencies and everything else swam in front of his eyes. Then he looked at his little daughter again, picked up the phone and sold out his long position. And what's more, he went very, very short.
Now Mr. Beright is a changed man. Because all that time that he used to spend studying Azerhof numbers and so on he now spends playing golf and enjoying his family. And his friends think he has become very strange, because he has no interest in all those fascinating systems and methods and indicators and statistics about the markets anymore.
But Mr. Beright doesn't care because he's making money. Lots and lots of it."
--From the book "The Adam theory of markets?What matters is profit", by J. Wells Wilder, Chapter one.
"Once upon a time there was an enchanted land called Marketland where a fascinating game called 'The Market was played most days. And the thing about this game was that it would go up or down every day and the players would make bets about the outcome -- very simple game.
But there were complications, which had to do with the fact that all the players in Marketland had opinions about which way the market would go.
And not only opinions: The players had systems, methods, evidence and analysis to back up their opinions. They had Dactyl numbers and Pdontiff waves, Xandom lines and Zigdar harmonics. They had the legacies of the old masters, Oerbot and Caljen. They had inventories and earnings, money-flow studies, astrology charts and the benefits of 4th-order spectrum analysis, all of which was extremely fascinating. Yes indeed, the players had many marvelous things.
The problem, though, was that sometimes the methods called for the markets to go one way and it would go the other way. This never failed to astonish everyone concerned, and there were many long discussions about how or why the market could be so perverse. However, it was usually agreed that this had just been a temporary aberration by the market and that the methods and analyses were as good as ever.
But one afternoon something happened to one of the players, a man named Mr. Beright. And he was never the same again. Mr. Beright had made a detailed study of Azerhof numbers, becoming one of Marketland's recognized experts on the subject. And the Azerhof numbers were now quite plainly stating that the market needed to go up, so Mr. Beright had taken a solid long position.
Unfortunately, quite soon after Mr. Beright had gone massively long, the market started down. This did not worry Mr. Beright excessively, since he realized the market had to go up. But the market (strange creature that it is) wouldn't pay any attention. It kept going down. And down. And down. And Mr. Beright (understandably, since we've all lived through these moments) got quite anxious and depressed. But he knew it would all get better very soon, just as soon as the market turned around and went the way it was supposed to go.
Now all good fairy tales have children in them and this one is no exception. Mr. Beright, it turns out, had a beautiful five year-old-daughter named Herenow, and just as he was contemplating his sad fate, Herenow walked into the room. Sensing that something was wrong, she asked, "what is the matter daddy?"
"Oh nothing, darling, you wouldn't understand. It's just that the market is supposed to go up and it hasn't yet."
"Is this the market daddy? This line on the screen here?"
"Yes." Little Herenow went over and peered intently at the jagged line on the screen. And the she said:
"Well daddy, I don't know anything about the market. But it certainly seems to be going down."
Well dear, that's why you don't understand. You see, the Azerhof numbers say that absolutely, positively the market has to go up here."
"I know, daddy, but right now it seems to be going down."
"Not only that Herenow, but the Melinxar frequencies state unequivocally that the market has got to go up here."
"I know, daddy, but right now it seems to be going down."
"You don't understand, darling. When the Azerhof numbers and the Melinxar frequencies agree, the market has got to go in that direction."
Little Herenow looked puzzled. She went over and peered at the screen once more.
"I don't understand all those things you're talking about, daddy, and I don't understand the market, but right now it seems to be going down. Doesn't it?
Mr. Beright paused and looked carefully at his five year-old daughter. "Would you say that again, Herenow?"
"Just that right now, daddy, the market seems to be going down. That's all. Did I say something wrong?"
"No dear...not at all."
And at that precise moment something snapped in Mr. Beright. All those years of studying Azerhof numbers and Melinxar frequencies and everything else swam in front of his eyes. Then he looked at his little daughter again, picked up the phone and sold out his long position. And what's more, he went very, very short.
Now Mr. Beright is a changed man. Because all that time that he used to spend studying Azerhof numbers and so on he now spends playing golf and enjoying his family. And his friends think he has become very strange, because he has no interest in all those fascinating systems and methods and indicators and statistics about the markets anymore.
But Mr. Beright doesn't care because he's making money. Lots and lots of it."
--From the book "The Adam theory of markets?What matters is profit", by J. Wells Wilder, Chapter one.
Mike Kshemaraja
Established member
- Messages
- 852
- Likes
- 63
A story
Let's say that there is a woman that I like very much and I would like to take her out. Now I am a bit nervous on approaching her because I am worried by her rejections and I am getting very uneasy about it because I really like her.
Now instead of going to talk to her, I go to ask Mr Elliot, Fibonacci, Gann or many others, what do I need do to to make her come out with me?
They start to tell me so many ideas and theories, but in reality they do not know her. They think they know her or they try to make me believe that they do for their own interests.
If they had positive experiences, they had them with another woman, not with the woman I like. They don't see her the way I perceive her.
So if I approach my woman with all this information that I had accumulated from others to hide my insecurities in approaching her, she would just not take any notice of me.
But remember I really like this girl, she is beautiful, funny and she has gorgeous ankles, so I am not going to let it go.
Instead I start to watch her, and exchange a few words with her, maybe I do not tell how I feel about her, but she probably knows already that I have a crush on her.
She is sensitive, she gets depressed, she laughs, she cries, she is strong, she likes to play, to fight, to sleep, to hide, to dance and also she likes to make love with people who understand her. When she does that with you, brother I cannot explain how it feels.
Watch every movement that she makes, even a little movement (Bar or candle) that seems of no significance; it is an indication that she is going to make love with you (or not) today.
For example one night (my time) I thought that she was creating a set up with me to go long with her, the bar that I was going to place a buy stop order, after 4 minutes (I used 5m TF) was a shaved bar at the bottom and at the top indicating strong strength in the bulls and confirming my view of my direction, but in the last 20 seconds of the 5m she dropped more the half of the bar and that's where she closed.
Now I know she likes to play games and she likes to make love with who is fit, ready and creative and I played along; remember, I really like this girl. She startled me a bit, because her beauty can often blind you but, I was able to go short with her, I was bit late I have to admit, but she is also compassionate with gratitude and once more she slept with me.
I hope you liked my story, this is my experience.
Mike
Let's say that there is a woman that I like very much and I would like to take her out. Now I am a bit nervous on approaching her because I am worried by her rejections and I am getting very uneasy about it because I really like her.
Now instead of going to talk to her, I go to ask Mr Elliot, Fibonacci, Gann or many others, what do I need do to to make her come out with me?
They start to tell me so many ideas and theories, but in reality they do not know her. They think they know her or they try to make me believe that they do for their own interests.
If they had positive experiences, they had them with another woman, not with the woman I like. They don't see her the way I perceive her.
So if I approach my woman with all this information that I had accumulated from others to hide my insecurities in approaching her, she would just not take any notice of me.
But remember I really like this girl, she is beautiful, funny and she has gorgeous ankles, so I am not going to let it go.
Instead I start to watch her, and exchange a few words with her, maybe I do not tell how I feel about her, but she probably knows already that I have a crush on her.
She is sensitive, she gets depressed, she laughs, she cries, she is strong, she likes to play, to fight, to sleep, to hide, to dance and also she likes to make love with people who understand her. When she does that with you, brother I cannot explain how it feels.
Watch every movement that she makes, even a little movement (Bar or candle) that seems of no significance; it is an indication that she is going to make love with you (or not) today.
For example one night (my time) I thought that she was creating a set up with me to go long with her, the bar that I was going to place a buy stop order, after 4 minutes (I used 5m TF) was a shaved bar at the bottom and at the top indicating strong strength in the bulls and confirming my view of my direction, but in the last 20 seconds of the 5m she dropped more the half of the bar and that's where she closed.
Now I know she likes to play games and she likes to make love with who is fit, ready and creative and I played along; remember, I really like this girl. She startled me a bit, because her beauty can often blind you but, I was able to go short with her, I was bit late I have to admit, but she is also compassionate with gratitude and once more she slept with me.
I hope you liked my story, this is my experience.
Mike
Mike Kshemaraja
Established member
- Messages
- 852
- Likes
- 63
A bit of music
The Crystal Method - Play For Real (Dirtyphonics Remix) (Official Video) - YouTube embedded
The Crystal Method - Play For Real (Dirtyphonics Remix) (Official Video) - YouTube embedded
Charticist
Junior member
- Messages
- 39
- Likes
- 2
Hello everyone,
This is an excellent thread. Looks like it can help me gain some insight and hope to make some useful contributions as well.
I noticed the thread discusses methods in Bob Volman's excellent book which I am trying to employ. Currently I am trying to learn how to read the charts as he does in the book and am taking some very small trades. Looks like it might be a grind for a couple of months before I (hopefully) get the upper hand. My current difficulty is in detecting "Unfavorable Conditions", which I think is leading to my overtrading and also to seeing my trades fall just a couple pip short of the target.
Thanks in advance for any help, I'll spend some more time reading back through the posts and try to post a trade or two myself.
Charticist
This is an excellent thread. Looks like it can help me gain some insight and hope to make some useful contributions as well.
I noticed the thread discusses methods in Bob Volman's excellent book which I am trying to employ. Currently I am trying to learn how to read the charts as he does in the book and am taking some very small trades. Looks like it might be a grind for a couple of months before I (hopefully) get the upper hand. My current difficulty is in detecting "Unfavorable Conditions", which I think is leading to my overtrading and also to seeing my trades fall just a couple pip short of the target.
Thanks in advance for any help, I'll spend some more time reading back through the posts and try to post a trade or two myself.
Charticist
Mike Kshemaraja
Established member
- Messages
- 852
- Likes
- 63
Hi Chart
Welcome and feel free to post more.
Yes Bob is discussed as is Al, John or others. Keep in mind that they all give an idea of how THEY trade or HOW they perceive the market. At the end of the day only us can make the difference to bring our work to higher level being able fuse our own creativity with commitment and passion.
Countless hours of screen time will definitely help (500 hours at least) and the ability to learn to relax while trading and to monitor your susceptibility to make errors.
Regarding the "Unfavourable Conditions" I suggest you to posts your trades and all of us can share our perception:
“If you want to learn something, read about it.
If you want to understand something, write about it.
If you want to master something, teach it.”
Welcome and feel free to post more.
Yes Bob is discussed as is Al, John or others. Keep in mind that they all give an idea of how THEY trade or HOW they perceive the market. At the end of the day only us can make the difference to bring our work to higher level being able fuse our own creativity with commitment and passion.
Countless hours of screen time will definitely help (500 hours at least) and the ability to learn to relax while trading and to monitor your susceptibility to make errors.
Regarding the "Unfavourable Conditions" I suggest you to posts your trades and all of us can share our perception:
“If you want to learn something, read about it.
If you want to understand something, write about it.
If you want to master something, teach it.”
Charticist
Junior member
- Messages
- 39
- Likes
- 2
Mike,
Thanks for the welcome.
I agree with what you said that only we can make the difference. I am beginning to read the Al Brooks material but as a way to cut down on information overload I am concentrating on the Bob Volman material (actually I started my study of price action with Price Action Bar by Bar book but then saw that the Forex Price Action book dealt directly with the EUR/USD, the instrument which I trade).
I whole heartedly agree with the last quote, "If you want to master something, teach it". The best way to learn is to teach the subject and that is something that anyone trying to learn, either as a novice or even someone who has reached a higher level, do not appreciate at times.
Chart
Charticist
Junior member
- Messages
- 39
- Likes
- 2
Here is the one and only trade I took Friday after the Non-Farm payrolls numbers were released. The chart is a 70 tick chart along with the 20 ema. Also the chart shows the 20 and 50 sma set up to show crossing information which I tend to ignore except to clarify a long sustained trend.
The block break (BB) trade, entered just below the red line at 7 in the chart, was scratched for a loss at 10. On review the trade mostly looked fine. It looked like a topping pattern had formed, 3-4 and a downward trend was in (3-6) and price action hit the 20 ema twice shortly before 7. On the other hand the ellipse at 1 shows some previous highs that, due to several hours of sideways trading, may have formed some support. Also I should have moved the stop down to the highs of 9, which would have lessend the loss. The 10 pip target was missed by about 2 pips.
The question I have is should the trade have been skipped for any reason? Also were the BB at 5 and the double doji (DD) 6 better trades?
Thanks,
Chart
The block break (BB) trade, entered just below the red line at 7 in the chart, was scratched for a loss at 10. On review the trade mostly looked fine. It looked like a topping pattern had formed, 3-4 and a downward trend was in (3-6) and price action hit the 20 ema twice shortly before 7. On the other hand the ellipse at 1 shows some previous highs that, due to several hours of sideways trading, may have formed some support. Also I should have moved the stop down to the highs of 9, which would have lessend the loss. The 10 pip target was missed by about 2 pips.
The question I have is should the trade have been skipped for any reason? Also were the BB at 5 and the double doji (DD) 6 better trades?
Thanks,
Chart
Attachments
Mike Kshemaraja
Established member
- Messages
- 852
- Likes
- 63
Chart
Nice post.
Express yourself through the thread, be humble and honest, the rest will come.
Screen time will make the difference, be in the market without having a trade.
Bob teaches a very important issue in my view better than anybody else: the constant battle between the parts, and as a retailer not to be part of it (in sense of entering) before one side succumbs to the other.
Mike
Dick Lexic
Veteren member
- Messages
- 4,954
- Likes
- 124
you sound like wallstreet1928.
