Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

walterw

"S&R" Scalps

Recommended Posts

Hi Walter,

 

The videos are great!! Thanks so much for taking the time to share this information. I'm really enjoying this stuff and look forward to seeing new videos. These videos are answering the questions I have about support and resistance. Thank you.

Share this post


Link to post
Share on other sites

Hi Walter,

 

You mentioned about using tight stops, typically how large is your stop? Are your stops a few ticks behind the support and resistance line? How do you determine how much to risk on each trade as a scalper? Thank you.

Share this post


Link to post
Share on other sites

Hi Walter,

Sorry for my Tarzan english by advance.

First, a big thank you for all your threads and all your videos very interesting.

But I have a small question, you say take 4 ticks in some places where between the upper and lower V, there are only 5 ticks.

What kind of front-end do you use to accomplish this feat ?

Would it possible to make a live video where we could understand how you take position and how you get out. I know it's difficult with the concentration, but perhaps a live simulation after you have made your daily target.

Thank you again for all your work.

Share this post


Link to post
Share on other sites
Hi Walter,

 

The videos are great!! Thanks so much for taking the time to share this information. I'm really enjoying this stuff and look forward to seeing new videos. These videos are answering the questions I have about support and resistance. Thank you.

 

Hi Walter,

 

You mentioned about using tight stops, typically how large is your stop? Are your stops a few ticks behind the support and resistance line? How do you determine how much to risk on each trade as a scalper? Thank you.

 

Thanks Nyc, I will try to normally take a stop on -4 -5 max.. now one trick I got is that when things dont go my way I get out with 0 -1 or -2 stop... that helps a lot... the textbook stop should be below/above entry pivot, but when you develop some discernment that things are not working you may want to tight even more your stops... cheers Walter.

Share this post


Link to post
Share on other sites
Hi Walter,

Sorry for my Tarzan english by advance.

First, a big thank you for all your threads and all your videos very interesting.

But I have a small question, you say take 4 ticks in some places where between the upper and lower V, there are only 5 ticks.

What kind of front-end do you use to accomplish this feat ?

Would it possible to make a live video where we could understand how you take position and how you get out. I know it's difficult with the concentration, but perhaps a live simulation after you have made your daily target.

Thank you again for all your work.

 

I use a DOM where you have a lot of features to get some exits automated once I entered manually... If I load more volume some things I do it manually... I am afraid making a video of this will not be possible as camtasia uses excesive resources... but basicly agon, you tell the DOM how many ticks profit you want from where you entered and he will do it automatically for you, if things are not getting there, I get out manually... playing with the DOM its key there... cheers Walter.

Share this post


Link to post
Share on other sites
I use a DOM where you have a lot of features to get some exits automated once I entered manually... If I load more volume some things I do it manually... I am afraid making a video of this will not be possible as camtasia uses excesive resources... but basicly agon, you tell the DOM how many ticks profit you want from where you entered and he will do it automatically for you, if things are not getting there, I get out manually... playing with the DOM its key there... cheers Walter.

 

Thank's for you help, I understand playing with the DOM is the key.

I use ButtonTrader myself but I think it is very diificult to take 4 ticks where there are only 5 ticks to take.

This is the reason why a video help us, imho.

For ex : jperl (jerry) (nice guru on this nice forum) made a video with DOM, I think it is possible after your day target will made.

Share this post


Link to post
Share on other sites
Thank's for you help, I understand playing with the DOM is the key.

I use ButtonTrader myself but I think it is very diificult to take 4 ticks where there are only 5 ticks to take.

This is the reason why a video help us, imho.

For ex : JPG (nice guru on this nice forum) made a video with DOM, I think it is possible after your day target will made.

 

 

Give me time agon and I will try to make one... really if price was hit, you will get filled, when you see that you did not get filled and things get lazy, thats where you want to exit manually... I kind of understand what you are meaning on getting filled on so small range... sometimes happens, sometimes not... thats why I get out with +2 or +3 sometimes and still is good bussiness for me... cheers Walter.

Share this post


Link to post
Share on other sites

Hey walter do you use your normal trigger for this trade? A couple of entries occur to me.

 

Limit at the line.

BO back below the line

BO of the bar that penetrated/touched the line.

 

I'd go with the first but suspect you might use the last :)

Share this post


Link to post
Share on other sites
Hey walter do you use your normal trigger for this trade? A couple of entries occur to me.

 

Limit at the line.

BO back below the line

BO of the bar that penetrated/touched the line.

 

I'd go with the first but suspect you might use the last :)

 

 

BO stands for ?

Share this post


Link to post
Share on other sites

Hello fellow traders... Pipper asked me to show what chart I had been looking today for my scalping... So I will attach here the 22t principal

 

 

attachment.php?attachmentid=4459&stc=1&d=1197515271

 

 

I will have to make a confession... Its a little trick not suited for new scalpers yet and not recomended at the begining of this posible learning curve, as it could create confussion to the trader... I also do follow a 6 Tick chart for "very specific timing"...

 

attachment.php?attachmentid=4460&stc=1&d=1197515271

 

 

This things are not easy to diggest at the begining... but once really grasped they are really fun... see ya tomorrow on the chat... cheers Walter.

5aa70e2b78022_forpipper.thumb.png.fb124a4bdf7046dcf61c9c507dca9f1f.png

confession.thumb.png.4e8cd5b56e9bd541af0e2a17d6258eae.png

Share this post


Link to post
Share on other sites

This is one of the S&R setups I will try to focus today... when we get to test an S&R key level expecting a bounce, BUT that bounce doesnt follow thru, we can expect a break of the level.... now instead of timing the entry after the break or in the break itself where you can get to much slipagge, I time right before the break... this can help for a tight stop management as well... good trading today ¡¡ see ya on our new chat room ¡¡

 

 

attachment.php?attachmentid=4488&stc=1&d=1197641589

 

cheers Walter.

5aa70e2c1a8d0_failedtestandbreak.thumb.png.fb7f12bfa795e6633aaee6712b35fea8.png

Share this post


Link to post
Share on other sites
Mike : this is one of the versions of adxvma coded by Blu-Ray for TS... cheers Walter.

 

Thanks a bunch Walter, and Blu-Ray for doing all the great programming he's helped out with. You guys are great.

 

:cool:

Share this post


Link to post
Share on other sites
Mike : this is one of the versions of adxvma coded by Blu-Ray for TS... cheers Walter.

 

Hi Walter,

I've been reading your scalping threads with much interest. The above Tradestation code does not plot 2 lines however. I wonder if anyone else has the ADXVMA for Tradestation?

 

Thanks very much.

Wilson

Share this post


Link to post
Share on other sites
Hi Walter,

I've been reading your scalping threads with much interest. The above Tradestation code does not plot 2 lines however. I wonder if anyone else has the ADXVMA for Tradestation?

 

Thanks very much.

Wilson

 

I only asked him for the 6 period setup. I'm sure he has the shorter timeframe and will share that also. These guys are great, you're in the right community for great info.

Share this post


Link to post
Share on other sites

Here's a copy of the ADXVMA with 2 inputs, meaning you can have a sma,ema or hma added to the main plot line. However, if your trying to get a copy of Walter's chart, then leave the ma line to 1 and the additional line won't plot.

 

But you will have to insert the indicator onto your chart twice, one with an input of 2 and the other with an input of 6. ( for example )

 

Hope this helps

 

Blu-Ray

 

 

ps. Great thread Walter, excellent work. :cool:

ADXVMA.ELD

Share this post


Link to post
Share on other sites

This week apart of looking at some candle charts wich I am experimenting, I will be trading my regular flip scalps... some examples from previous sessions :

 

attachment.php?attachmentid=4524&stc=1&d=1197899136

 

attachment.php?attachmentid=4525&stc=1&d=1197899136

 

attachment.php?attachmentid=4526&stc=1&d=1197899136

 

hope you enjoy trading this week... cheers Walter.

5aa70e2d01342_flip1.thumb.png.023e7b462179128a7f90634559a8bede.png

5aa70e2d071a4_flip2.thumb.png.8787c5746c9b873deb8e48b259f4f8ef.png

5aa70e2d0cd2e_flip3.thumb.png.b770a2f1e8d96239243de9c3499ec3e6.png

Share this post


Link to post
Share on other sites

Hi Walter! I hope that you are well.

 

I have some questions about the equivalence between the tick and minute charts.

 

I made a simple comparison between a tick charts and minutes charts in the EURJPY pair, and I found that there the 5 minutes chart is more less equivalent to the 22 tick chart, and the 1 minutes chart is more less equivalent to the 6 tick chart. But I suppose that it can be different depending on the volatility of the moment.

 

Do you have some equivalent similar to the one of my comparison? Why do you prefer to use tick charts insted minutes (or seconds) charts?

 

Cattus

Share this post


Link to post
Share on other sites

I use tick charts for scalping, its like tape reading on a chart, you get to see whats happening... minute charts are more for longer trades, they give a very nice longer view of whats going on, so having both its very recomendable as they have difernt functions... cheers Walter.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • $SFM Sprouts Farmers Markets stock with a nice move higher off 24.7 triple support area and now a breakout watch above 26.17, from Stocks To Watch , see https://stockconsultant.com/?SFM
    • $ORN Orion Group stock with a nice high trade quality setup and move higher off the 2.8 support area , see https://stockconsultant.com/?ORN
    • $CIR CIRCOR International stock with an ascending triangle breakout watch above 25.92 , see https://stockconsultant.com/?CIR
    • $ANTM Anthem stock attempting to move higher off 256.04 triple+ support area , see https://stockconsultant.com/?ANTM
    • Date : 14th July 2020.Sterling in the Cross-hairs today.GBPUSD, H1UK data today has continued the pressure on Sterling, with the UK economy rebounding less than expected in May. Overall GDP lifted 1.8% m/m, compared to Bloomberg consensus of 5.5% m/m. With economic activity still falling -20.3% m/m in April, the modest uptick over the month still saw the annual rate falling back to -19.1%, from -10.8% y/y in the previous month. Industrial production actually lifted 6.0% m/m and construction output rebounded 8.2% m/m, but rebounds fell short of expectations and this also holds for the index of services, which lifted a mere 0.9% m/m, after still falling -18.9% m/m in April. Services are still down nearly 19% on last year’s levels, construction output is nearly 40% below the levels in May last year and overall industrial production 20%. Virus restrictions came later and subsequently were also lifted later in the UK compared to most other European countries, and forward looking confidence data are signalling that at least the construction sector is back in expansion territory. Still, the numbers highlight downside risks, especially as there is also not much progress in trade talks with the EU, leaving the risk that the transition period will end without a new deal in place.The Office for Budget Responsibility (OBR) also issued their latest updates today and it makes sorry reading for the UK economy, with expectations of record peacetime levels of public debt and the largest decline in UK GDP in 300 years.Cable carved out a six-day low at 1.2537, which has been partly a product of sterling underperformance following a much weaker than expected UK May GDP figure, and followed through to test 1.2505 following the OBR report. EURGBP concurrently lifted to a seven-day peak at 0.9069, and GBPJPY traded into six-day low terrain at 134.17.Always trade with strict risk management. Your capital is the single most important aspect of your trading business.Please note that times displayed based on local time zone and are from time of writing this report.Click HERE to access the full HotForex Economic calendar.Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!Click HERE to READ more Market news. Stuart Cowell Head Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.