Scalping Strategy

[Atomised]

Tzachi & Rollingstone

This thread REALLY has got me thinking anyway i didn't do too well on friday was down 22 pips calling it a day when i decide to try something else. Got a 1 min chart with 4060 80 ema's on it along with Stochs Cci Adx. Found a trade which followed the trend i.e. roadway as indicated by emas had Cci Adx confirming the entry. Anyway long story short got out for 30 pips in about 15 mins ! Turned a bad day into a good one with one trade thanks guys

Question is was this beginners luck time will tell !!

[Atomised]

Tzachi

I'm just curious what settings do u use for cci adx ? Have both mine on 14 what the significance of this 20 level on the adx can see how it works just wondering why use the 20 not a 10 or 30 level. Is this your choice or is there some other logic for it ?

[natebuse]

I will look into the different platforms. For some reason I thought you needed 25k for the platform I was looking at. What I use now for entry exit is when my s/r lines are crossed then I enter my position. I look for reversals when rsi is above 70 below 20. I will keep you posted on my results for the next couple of weeks.

[Tzachi]

Atomised

I use adx default setting.
I use 2 proprietary indicators that work with modified cci setting to point the entry points before the breakout.

Why most traders loss it all?
In my opinion its b/c they want to go for home run each time. To try to buy at the lowest point sell at the top. NO one knows when its the lowest or the top points. So they predict looking at a magic fib' lines crystal ball HOPE.

Just take the pips the market gave you get out. There are so many entry points to get in again again. If you take small profit each time at the end of the day/week/month you will be at the + side of the P/L that the goal of the game !!!!!


Tzachi.

[Patrick_Rhodes]

Originally Posted by ash71

What broker do you use that provides a spread/platform/execution that enables your style?

I would also like to know who allows scalping. I have accounts with FXCM utions they both discourage scalping. By this I mean if you go long immediately the next pip will be down. they will continue the market down several pips to see if you really are committed to your position hoping you will get out with a small loss. It happens almost every time. So which brokers really do not trade against you? They all say they don't.

[yasirdxb]

Originally Posted by Tzachi

Atomised

I use adx default setting.
I use 2 proprietary indicators that work with modified cci setting to point the entry points before the breakout.

Why most traders loss it all?
In my opinion its b/c they want to go for home run each time. To try to buy at the lowest point sell at the top. NO one knows when its the lowest or the top points. So they predict looking at a magic fib' lines crystal ball HOPE.

Just take the pips the market gave you get out. There are so many entry points to get in again again. If you take small profit each time at the end of the day/week/month you will be at the + side of the P/L that the goal of the game !!!!!


Tzachi.

Why most traders loss it all?

In my opinion its bcoz they want to win every trade they want to make money everyday.they stay with their losing trades close their winning trades too early.they are only good to their brokers.

Just take your case. you would close a trade when there is a 3-5 pip profit.
I dont know when you would exit a losing trade. if you are risking 5 pips (5 pips?) a loss would be 5+3 pips(spread) = 8 pips.

Do you really think this is the way to trade?

Yasir.


ps:everybody is predicting/expecting the direction of the market. some use magic fib linescrystal balls some use adx proprietray indicators.thats not important. whats important is to win big when you are right lose small when you are wrong.

[Tzachi]

Yasidxb

If you do not want to win pips every trade something wrong with you trading mined set

We trade to win EVERY TIME. We are not in this business to lose. It is a business not hobby or entertainment in the casino. I trade for living. If I lose 20 pips total on 2 trades 10 I still ahead with at least 20 pips on the + sidethanks to the other 8 trades.

I wake up every morning to go to MAKE money not to stop lose or predict what will happened.

All what I do is to analyze what the market/price doing now based on the current price action I use my indicators to calculate the probebility of the price's next move.

You can never lose if you keep taking small profits. Yoy can lose if you let profit turn to the downside because you wait for a home run or some imaginary line...

Its my way good luck to you going your way.


Tzachi.

[Falkon]

Tzachi Rollingstone et al.

Thanks guys for sharing your strategies it's been a good morale boost. Please keep it flowing.

Falkon