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    Thread: Scalping with price actions on smaller time trames

    1. #21
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      To actually succeed in this business one needs to learn more about price action because that is the secret of success, we should learn how specific prices reacts at different support and resistance levels this way we can anticipate the market key direction.


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    3. #22
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      we should learn how specific prices reacts at different support and resistance levels
      I discovered that we could have a better chances of knowing at the specific point or levels to enter the market when we move to a smaller time frame after discovering the important level on a higher time frames such as 4 hours and daily charts. It is truly fascinating the way the market reacts to these levels!
      Wisdom Is The Ability To Apply Knowledge And Experience To Any Given Situation.
      If you do not take control of your risks then you lose control of your trades


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    5. #23
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      Am a scalper too i love using MACD to scalp on 15 minutes and its been working although i lost money in my demo yesterday but it has made me money too this week . I have not learnt much about price action but i believe it works , the name of the candles are many and am learning them one at a time


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    7. #24
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      Quote Originally Posted by penuelophir View Post
      System is on a 5 minutes, and whenever the price is above the 200sma then it is a buying trade and whenever the price is below the 200sma then it is a selling trade. My starting out balance is just $246.
      you know what I like most about this. It's clear as day. It may not be the most sophisticated trading system ever built or the most winning but sure enough it works and can be a simple easy way to interpret the market and get some good trades. the starting balance is also very decent and will allow for a good risk and ultimately good profits. How much are you willing to risk per trade, and how many trades will you enter per day?
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    9. #25
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      Quote Originally Posted by penuelophir View Post
      I discovered that we could have a better chances of knowing at the specific point or levels to enter the market when we move to a smaller time frame after discovering the important level on a higher time frames such as 4 hours and daily charts. It is truly fascinating the way the market reacts to these levels!
      There are traders who advocate that smaller time frames are just a bunch of noise and tell people not to even consider it, I am glad about the simplicity of your system, and the fact that you understand where exactly to pull the trigger, like someone mentioned here, scalping is a game of time. Do you ever use pending orders with this strategy?
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    11. #26
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      Quote Originally Posted by Soldier View Post
      you know what I like most about this. It's clear as day. It may not be the most sophisticated trading system ever built or the most winning but sure enough it works and can be a simple easy way to interpret the market and get some good trades. the starting balance is also very decent and will allow for a good risk and ultimately good profits. How much are you willing to risk per trade, and how many trades will you enter per day?
      One thing I know is that there is nothing in this market that is very certain at all times and that is why it is very important to make sure that you trade with what you have been able to master over time, and I think this is my own good shot at the market using this system.
      I like the question because it reminds me whom I used to be risk taker and account blower! Honestly, I wish to take smaller risks here trading with just 0.2 and could trade up to three times per day, this is because I want to make sure that I reduce the risks to the lowest point due to the fact that I wish to last longer here trading.
      Do you ever use pending orders with this strategy?
      Sure there are at times when I feel the level where the market is likely to retrace at through using the Fibonacci trading tool then I could place my pending order at the 38% because it most of the times comes back at that level before it continues in the main direction.
      Wisdom Is The Ability To Apply Knowledge And Experience To Any Given Situation.
      If you do not take control of your risks then you lose control of your trades


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    13. #27
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      Quote Originally Posted by adewale View Post
      There are traders who advocate that smaller time frames are just a bunch of noise and tell people not to even consider it, I am glad about the simplicity of your system, and the fact that you understand where exactly to pull the trigger, like someone mentioned here, scalping is a game of time. Do you ever use pending orders with this strategy?
      You can't blame the people that advice that traders should not look at small time frames, it is meant to help newbies to concentrate and focus on patient instead of immediate gains, once discipline has been built through the bigger time frame, it would then be easier to manage lower ones in trading.


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    15. #28
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      Quote Originally Posted by penuelophir View Post
      Today, there was not so much reactions to the market at the moment due to the FED news yesterday, but I have been able to trade few of the pairs but could only be able to see these things. Believe me I have not traded this system for a long time and as such I am trying to fully master it myself even though I have back tested it with a software and it works very well. So lets see how things would work out here and as the time goes from here now...

      Attachment 69455

      Hello supper moderator I would like to add my picture at the first post and I do not know if that is possible for all these time spent. Thanks for your help! Attachment 69456
      O.k! Lets discuss for the details now that we have image uploaded. I read in your first post that you are entering only above, or below the 200 ma which is obvious, but what is the second line MA, EMA, or something else, please give all the details and also what kind of orders you are using one click, or stop orders?


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    17. #29
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      Quote Originally Posted by FlyingShark View Post
      O.k! Lets discuss for the details now that we have image uploaded. I read in your first post that you are entering only above, or below the 200 ma which is obvious, but what is the second line MA, EMA, or something else, please give all the details and also what kind of orders you are using one click, or stop orders?
      Okay the second line is tenkan-sen of Ichimoku, I use it to confirm when the price has indeed cut the 200ema whether upward or downward, and the setting for the Tenkan sen is 5. Please, everyone is welcomed to contribute to this scalping system and it works, but it could be improved. Thanks for coming around!
      Wisdom Is The Ability To Apply Knowledge And Experience To Any Given Situation.
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    20. #30
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      Quote Originally Posted by bigani View Post
      A scalper definitely must use lower time frame both for entry and exit,personally i do not like scalping because it comes with a lot of pressure,scalpers can trade more than 20 times in one day,but i must admit here that a good scalper will definitely make more money than a swing trader.
      Scalping is a skill mate, there are people that are used to it, I don't think anyone would jump into using a system that he has not back tested in the demo account, you may see it as stress, but for these people that are using it, they consider this strategy to be fun, you can't even tell them to be swing traders as it may be too boring for their personality.


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