Price Action Scalping

[Mike Kshemaraja]

Chart, Fox.

I am having a break from here, I find this forum full of losers and trolls. It is effecting my performance, I am only making 2% a day on average, lately.

Can you make 1 % average a day on a huge capital? yes you can, easy.

And I do not see why an honest person with himself cannot do it.

I have enjoyed the ride with you two, you can reach me via pm if you wish, take care.

Mike

 

[Charticist]

Chart

Is the 70 tick chart not working for you? Are you a full time trader?

Mike

Yes, full time trader.

70 tick chart works, of course I wouldn't mind if it worked better, but that will come with time. Just noticed on some 70 tick charts when the pullbacks are deep and move above the 20ema the pullback on the 350 tick chart is to the 20 ema. The factor of 5 on the tick frame is derived from Alexander Elder's factor of five in his "Trading for a Living" book, the other frame is 1750 tick. In the example below the block break is obvious but the DD on the 350 tick frame may add only to the appeal of the trade.

Chart

 

[foxmajster]

Chart, Fox.

I am having a break from here, I find this forum full of losers and trolls. It is effecting my performance, I am only making 2% a day on average, lately.

Can you make 1 % average a day on a huge capital? yes you can, easy.

And I do not see why an honest person with himself cannot do it.

I have enjoyed the ride with you two, you can reach me via pm if you wish, take care.

Mike

Oh no
But it is your decision and I respect it.
Thanks for bringing this scalping technique to the forum and thanks for all the help you provided to me and others. I'll keep in touch via pm/mail for sure.
I have just been in contact with Hirose guys and we resolved some technical issues I've been having connecting to their server and I will be opening account with them next week - I feel confident enough with this technique to start with real trades.
You don't mind if I continue posting my trades here to keep the thread alive?

See you around.

 

[Mike Kshemaraja]

Oh no
But it is your decision and I respect it.
Thanks for bringing this scalping technique to the forum and thanks for all the help you provided to me and others. I'll keep in touch via pm/mail for sure.
I have just been in contact with Hirose guys and we resolved some technical issues I've been having connecting to their server and I will be opening account with them next week - I feel confident enough with this technique to start with real trades.
You don't mind if I continue posting my trades here to keep the thread alive?

See you around.

Fox

I am glad that you have find it useful and that it helped you, you deserve it as Chart does.

Please feel free to use the thread as much as you want, actually I would like very much to pass it to you and Chart, post as much as you can, it will be good for you.
I will be watching. LOL.

Today I had a good day, very much focused only on my work, I like that.

This was my last trade, a nice BB, target reached with 10 pips, my initial SL was at 7 pips, made 2%, spread was 1.2. I think is a bit too much for this kind of trading. Hirose sound good. (around 0.7). I am going to give them a try.

I had three trades, I am up 6% today. Feels good. I am done for the day.

I wish you good health and a content life.

Regards
Mike

 

[Charticist]

Mike,

Thanks for all your help and showing us that with hard work, and as you said being honest with yourself, that it can be done.

We'll keep the thread going and hope to see you back here soon.

Chart

 

[Mike Kshemaraja]

Mike,

Thanks for all your help and showing us that with hard work, and as you said being honest with yourself, that it can be done.

We'll keep the thread going and hope to see you back here soon.

Chart

Chart

Thank you, for your kind words. I wish you good health and a content life.

Regards
Mike

 

[Charticist]

Please feel free to use the thread as much as you want, actually I would like very much to pass it to you and Chart, post as much as you can, it will be good for you.
I will be watching. LOL.

As I continue my study and assemble my notes/document I'll definitely be referencing this materal.

This was my last trade, a nice BB, target reached with 10 pips, my initial SL was at 7 pips, made 2%, spread was 1.2.

Nice, textbook trade.

Take care,
Chart

 

[ActionMan45]

Chart

Thank you, for your kind words. I wish you good health and a content life.

Regards
Mike

Mike, I want to thank you for all your wise words which have changed the way I look at trading and transformed everything for me. I have to study much more yet, but I would have been going nowhere if I hadn't found this thread. Very good health and happiness to you, and good trading.

Regards,
ActionMan

 

[Mike Kshemaraja]

Mike, I want to thank you for all your wise words which have changed the way I look at trading and transformed everything for me. I have to study much more yet, but I would have been going nowhere if I hadn't found this thread. Very good health and happiness to you, and good trading.

Regards,
ActionMan

Action

I am glad I was able to make you view things differently, work with Chart and Fox,
they have depths and are very able.

I also wish you a healthy and content way.

Mike

 

[DionysusToast]

Mike, I want to thank you for all your wise words which have changed the way I look at trading and transformed everything for me. I have to study much more yet, but I would have been going nowhere if I hadn't found this thread. Very good health and happiness to you, and good trading.

Regards,
ActionMan

Multiple Personality Disorder???

 

[Mike Kshemaraja]

Multiple Personality Disorder???

What does this post means? , why are you saying that to ActionMan?

Could you refrain to come to this thread if you have nothing constructive to say?

I really start to have enough of your kind, constantly trying to irritate people even on their own threads, if the moderators cannot keep you away from those constant stupid comment, I will.

 

[DionysusToast]

What this post means? , why are you saying that to ActionMan?

Could you refrain to can come to this thread if you have nothing constructive to say?

Mike - you need to take a chill pill...

 

[Mike Kshemaraja]

Mike - you need to take a chill pill...

I do not want to chill pill YouMF, If you have a problem with ActionMan go to solve it away from my thread.

This thread is for trading only, I already told you twice. Go to spend time with your losers bullies mates on the other threads.

So from now on you and your bunch of bullies are not welcome here. Is that clear? We are working here, we have not time to deal with such stupidity.

 

[Mike Kshemaraja]

Fox, Chart,

I think if the moderator cannot keep those scam bags away we need to move out from here and found another spot, is impossible to work like this.

Mike

 

[Mike Kshemaraja]

The moderator have rightly edited my frustration and they also suggested other options to be able to work without being trolled, which I will look in to it, otherwise an alternative need to be considered.

 

[foxmajster]

not much time today but managed to catch this one:
range with double bottom slowly getting higher lows, when broken I waited to check if it was only a tease but after few bars entered 2 pips above the range. SL 6 pips and gladly took profit of 8 pips although I was aiming for 10. Still with such a tight SL I have no problems taking a little less profits.

Done for the day, take care.

 

[Charticist]

not much time today but managed to catch this one:
range with double bottom slowly getting higher lows, when broken I waited to check if it was only a tease but after few bars entered 2 pips above the range. SL 6 pips and gladly took profit of 8 pips although I was aiming for 10. Still with such a tight SL I have no problems taking a little less profits.

Done for the day, take care.

Nice trade Fox. I have trouble verifying legitimate squeezes vs tease breaks as well. Your taking profits before 10 pip seems to work out well for you, I am thinking about backing off occasionally as well.

To train myself to keep focus I am only trading for 30-60 min stints. I am also trying to remove any distractions, just the charts and the sound of a computer fan. On off times I am continuing to read the price action scalping book and do some physical exercise. So I won't have many trades to post, maybe an occasional one, for about a week or two.

Here is probably my only trade for the day, in which I scratched, only to see it drive far above my target. Note that a DD entry off the 350 tick chart would have paid off handsomely, I'll post this chart as well. When trading off 350 tick I imagine that since dojis are bigger, stop losses must be increases trade sizes reduced but target prices can be increased (also with the slower action a more discretionary approach can be used).

Later,
Chart

 

[foxmajster]

Nice trade Fox. I have trouble verifying legitimate squeezes vs tease breaks as well. Your taking profits before 10 pip seems to work out well for you, I am thinking about backing off occasionally as well.

To train myself to keep focus I am only trading for 30-60 min stints. I am also trying to remove any distractions, just the charts and the sound of a computer fan. On off times I am continuing to read the price action scalping book and do some physical exercise. So I won't have many trades to post, maybe an occasional one, for about a week or two.

Here is probably my only trade for the day, in which I scratched, only to see it drive far above my target. Note that a DD entry off the 350 tick chart would have paid off handsomely, I'll post this chart as well. When trading off 350 tick I imagine that since dojis are bigger, stop losses must be increases trade sizes reduced but target prices can be increased (also with the slower action a more discretionary approach can be used).

Later,
Chart

Trade setup was good. My only objection against the trade would be the lack of tension before the break - I (and also Bob) like to see higher lows and a doji or two before the break. But because the block was so tight I would take the trade myself. And you were correct to close the trade below previous low althogh it could be set a pip lower. I think the round number of 1.31 did the damage, it is hard to scalp around this numbers..
Interesting is your comparison to 350 tick chart - if you find some good correlation also in next trades please post it.

 

[Mike Kshemaraja]

not much time today but managed to catch this one:
range with double bottom slowly getting higher lows, when broken I waited to check if it was only a tease but after few bars entered 2 pips above the range. SL 6 pips and gladly took profit of 8 pips although I was aiming for 10. Still with such a tight SL I have no problems taking a little less profits.

Done for the day, take care.

Fox

LOL, I got in where you got out, anyway seems that the candles are slightly different, are you using the 70 tick one?

To me the overall picture was down, so I was looking to short, just below the 1.31 number she start to make lower highs that ended in some kind of head and shoulder pattern, at the break of the barrier I was in.

 

[Charticist]

Trade setup was good. My only objection against the trade would be the lack of tension before the break - I (and also Bob) like to see higher lows and a doji or two before the break. But because the block was so tight I would take the trade myself. And you were correct to close the trade below previous low althogh it could be set a pip lower. I think the round number of 1.31 did the damage, it is hard to scalp around this numbers..
Interesting is your comparison to 350 tick chart - if you find some good correlation also in next trades please post it.

Thanks for the feedback, especially about the big round number. As I reread Bob's book and assemble some notes I keep picking up information that I overlooked on my first read (like avoiding BRN areas except when prices are trending nicely). I'll need to continue trading light, which one can do with Forex, but it certainly helps to do some trading. But for now I need a bit more in the "quality of my education" department.

The market should be able to be traded with this method on all time/tick scales. Bob did the work finding the appropriate ema for the 70 tick chart, and looks like Alexander Elders factor of five leads to the same choice of the 20 ema on the 350 tick chart as well. I haven't done a careful side by side comparison but the 350 tick looks similar to the 5 minute chart that Al Brooks uses. Just a quick look at the two charts and you can see that the tick chart hides the information you do not want (endless low volume bars that go nowhere) and shows information that you want (buyer/seller volume coming in on spikes).

Later,
Chart