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Very basic scalper set up
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Created: by Xzap Attachments:6

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Very basic scalper set up

  #21 (permalink)
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Xzap's Avatar
 
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Hi Riverend,

I'll use support & resistance areas, the tape and the strength of the bars but never more than 2 point stop and I'll exit sooner if it looks like my entry was totally wrong.

If it's a pure pivot play, I will use a 3 point stop sometimes.

dave

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  #22 (permalink)
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Riverend View Post
Xzap,
What do you use for stop loss? Another time frame? or certain number of ticks?
Thanks,

Vic

I overlooked your time frame question Vic.

During the day I'll have open a 5 min, a daily that goes back about 2 months, (this is good for the major sup/res levels) and 2 (two) 512T charts. I keep one 512T chart so it shows 5 days back and one that shows the last 2 -3 hours.

I take trades off the 512T 90% of the time and the 5 min the rest of the time. Naturally, I enter and exit off the same time frame chart.

I should have 4 full days to trade next week so I can compile more results

dave

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  #23 (permalink)
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Looks interesting....
I am a big fan of minimal indicators and S+R.
Subscribing...

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  #24 (permalink)
Trade with the flow
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Xzap View Post
Since it's been slow for a few weeks I've tried some very basic set ups; back to the basics as I call it. Myself, I've gotten info overload so I reverted back to the basics.

This set up is is extremely simple.. enter on the 2nd bar on the histogram after it crosses the zero line. I do keep a similar chart running with the lines added to the MACD, 20/50/200 ema and floor pivots added for confirmation but I wanted to see if I could trade with minimal info.

Good idea but why not go back to just price?

Your chart (the one in the first post) is a trend day. ANY entry would work for a lot more than a scalp. Try on a choppy day and post some charts.

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  #25 (permalink)
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Summer is over so I'm back to trading the pivots. I absolutely HATE scalping.

dave

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  #26 (permalink)
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Good of thread, thanks for sharing the parameters for being scalper..
it's helfupl so much...

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