Trading traps, scalp with safety belt

B

Blazer1965

Active member
Messages
127
Likes
1
Hello,

I am trading mostly with traps. In opening sessions and in the break of my breakout box.

I belive the best chances are when price is falling to a trap, breaking a support or a resistance.

I use a nominal stop loss of 20 pips for EURUSD and after the trade is on, I adjust it to the most recent semantic low.

From there on ninjatrader strategy handles the trade untill closing it

YouTube - forex scalping 9 7 2009
 
Hello,

Today I have took the long move after frankfurt open and a retracement aprox 40 min after the London open.

Here is the retracement trade.The other one was lengthy and not accepted by youtube.

Depending from the volatility I have tide or loose strategies.It depends also if the pair is rising or dropping.Usually it drops much faster than it climbs. So I prefer to lock pips as quickly as I can .

I set the trap under the psych level of 50.When it broke it, it took my order too.I have moved the stop loss just above the previous major high.In 42 I was in breakeven then it continued to lock pips until the order was closed.

 
My live trade was in Frankfurt open and specially the retrace after 9.30 Greece time.It took 23 minutes out of youtube range.

So this is an experiment I made with a trap aprox 20 minutes after the release of GBP news.

Placing an oco order in th high and low of the 15 m candle.

 
Hello

Today we had a super nice consolidation from early in the morning.Tha cjhanel broke delivering some nice pips. I took the move but the trade lasted more than youtube permits.

This is the second trap trade 15 min before London opens.

YouTube - forex scalping 15 7 2009
 
I'm not too sure what 'trading traps' exactly means, would you be kind enough as to share this information :) ? Thanks
 
Hello,

I mean that I am not desiding in hot chasing the price.I wait the setups and then I place pending orders waiting the price to come in my order.

For example today we had a nice consolidation aprox 2 hours after the London open. I have trapped the upper and lower side (some pips above some pips below) of the consolidation and then wait the price to make the breakout from support and resistance.After the trade was initiated it turned to automatic management by ninjatrader

 
Hello,

Today I have placed an OCO trap a few minutes after Frankfurt open.This is the last part of the trade managed automatically by Ninjatrader. The chart is one second chart and you can see in detail what is hapPening.

The trade was from 9.13 to 9.39 Greece time.

 
Interesting, so you wait for some sort of box formation consolidation to occur and then you place an OCO order to get in on the momentum of the breakout :) ?
 
GladiatorX said:
Interesting, so you wait for some sort of box formation consolidation to occur and then you place an OCO order to get in on the momentum of the breakout :) ?
Click to expand...


Not only boxes.

It might be a a session start, it might be a triangle etc.

You cant see these formations in candles and bars. My second charts might be the space of a monitor for a 15 min candle chart.

Euro climbed a lot during the night.So Frankfurt was without steam. I have placed my traps and waited until 14 min after London open to activate my order. The volatility was still low but after a certain point I was in breakeven so nothing to loose.The video contains the last 6 min of the trade banking the profits.The whole trade was around 40 min.

I have left ninjatrader to do the rest of the job.

Have a nice day

 
Today volatility wasn't good in Frankfurt and London session, so I waited for the correct timing in New York Session.The high in New York start was 1.4241 , 4 pips under R1. So I placed my trap just above R1 and my target just below R2.
 
Hello,

Lets see a trade today with two positive factors in our side.

Late in the evening an RSI divergence in H1 chart is formed pointing upwards.The pair made a double bottom and I have placed a trap above the previous high which would be in the middle of a 00 battle too. So the order is triggered and I have picked some creamy pips in a half an hour trade.

Here is the last juicy part after we have secured the trade .

 
Hello,

Each battle 00 is separated in two pieces.The pre 00 and the after 00. In the pre 00 traders are selling in 97 98 area. Then you have two options.Either you rebuy 10 pips below either you place a trap above the high.

I have choose the first option today in a half an hour trade aprox 30 min after London open.

There was another trade half an hour before Frankfurt when the pair broke the consolidation -chanel after yesterday evening free fall with fewer pips.

Here is the last juicy part after we have secured the trade .In the last seconds H1 candle closes and the pair forms a bubble in order to take the money from the high time frame "suckers",lol
 
Hello,

The volatility is incredibly slow, we are in the heart of the summer maybe this is the reason along the fact there wasn't any hot economic announcements scheduled for today. The trade lasted aprox. 45 min so I took one picture from the start and one in the end in order to comment. Outside of youtube limits for this one.Scalping converts to intraday trading during summer,lol.

 
Hello,

Nice moves we had today, 00 battles , one hour divergencies ,nice waves.

I have managed to cut a portion of the video in order to fill the trade in youtube.Started in 10 sec chart and finish it in 1 sec chart.

I don't know camtasia yet but I will become better.Promise.My voice and accent are lousy , sorry,lol.

This is an after news trading trap based on the m15 candle.

YouTube - forex scalping 28 7 2009
 
Hello,

Today we had nice trades in the Europe morning.

I have wrote for you the Frankfurt trade but later a divergence formed and I have took another 30 pips in the long direction.

EU broke a major trendline today on the daily chart.

As usual I have started with an OCO order........
 
Hello,

After long consolidation in the night , the pair moved in Frankfurt and London open.

Frankfurt went well but London was something special forming a divergence in microtime frames and one hour chart.

Here is the short trade

 
You must log in or register to reply here.

Similar threads

1
Box breakout pro scalping
48 49 50
Replies
987
Views
111K
15 min tlb
1
lbranjord
Pip Trap Strategy
Replies
5
Views
4K
lbranjord
lbranjord
K
The scalping corner!
Replies
8
Views
2K
neil
neil
D
The Stimulus Trap?
Replies
0
Views
2K
dodjit
D
A
Scalping - Forex or Eminis
Replies
3
Views
4K
charliechan
C
Top