A Super Simple Scalping Method w/ more setups then you can shake a stick at - futures io
futures io



A Super Simple Scalping Method w/ more setups then you can shake a stick at


Discussion in Trading Journals

Updated
      Top Posters
    1. looks_one futurestar with 8 posts (8 thanks)
    2. looks_two kronie with 2 posts (3 thanks)
    3. looks_3 Jigsaw Trading with 2 posts (1 thanks)
    4. looks_4 kevinkdog with 2 posts (1 thanks)
      Best Posters
    1. looks_one kronie with 1.5 thanks per post
    2. looks_two futurestar with 1 thanks per post
    3. looks_3 Jigsaw Trading with 0.5 thanks per post
    4. looks_4 kevinkdog with 0.5 thanks per post
    1. trending_up 6,022 views
    2. thumb_up 13 thanks given
    3. group 13 followers
    1. forum 14 posts
    2. attach_file 3 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 125,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

(If you already have an account, login at the top of the page)

 
Search this Thread
 

A Super Simple Scalping Method w/ more setups then you can shake a stick at

(login for full post details)
  #1 (permalink)
futurestar
Charlotte, NC
 
 
Posts: 11 since Aug 2013
Thanks: 2 given, 9 received

Hello folks,
My name is Futurestar and I have decided to share a trading system that I had stumble across that has tons of setups on a daily basis and if executed properly has a high win rate and should be extremely profitable. I will call it the JK Way to pay respect to the guy who taught this system to me.

Disclaimer: I have not gone live with this system yet!!! However, in the 6 months that I have been perfecting these methods. I have been extremely pleased with the results.

What I look to gain from this is through sharing and teaching I look to gain a better understanding of what I'm doing and in turn become a better trader.

With that being said, In the next day or so I will try to load a few charts with trades that I have taken over the past couple of day and explain the rules of the system as well as the setups that you should be looking for. I hope this is as fun for you as it will be for me.

Flaming of me or others of any kind will not tolerated!!!!! I will always encourage a healthy debate b/c through challenge we grow. But, I have a low tolerance for negativity and "hateration" as they call it. lol lol

Reply With Quote
The following 5 users say Thank You to futurestar for this post:

Can you help answer these questions
from other members on futures io?
Multichart NET set signal parameters different than the …
MultiCharts
Anybody uses Bookmap with Tradestation?
TradeStation
Thinkorswim MACD Thinkscript
ThinkOrSwim
NT8 connectivity by FXI API to unsupported brokers?
NinjaTrader
Tradenlernen martin popov
Trading Reviews and Vendors
 
Best Threads (Most Thanked)
in the last 7 days on futures io
How much do you know about Bitcoin?
128 thanks
I finally blew up an account
46 thanks
Big Mike in Ecuador
27 thanks
The tiyfTradePlanFactory indicator
25 thanks
EdgeProX from Edge Clear
24 thanks
 
(login for full post details)
  #3 (permalink)
 kevinkdog   is a Vendor
 
 
Posts: 3,004 since Jul 2012
Thanks: 1,598 given, 5,971 received


Looking forward to this discussion. A lot of experienced people on this site, and most all of us have been in your shoes at one point. Just don't mistake "realism" with "negativity" as people comment.

Also, sharing is great, but don't give away your golden goose...

Follow me on Twitter Reply With Quote
The following user says Thank You to kevinkdog for this post:
 
(login for full post details)
  #4 (permalink)
futurestar
Charlotte, NC
 
 
Posts: 11 since Aug 2013
Thanks: 2 given, 9 received


kevinkdog View Post
Looking forward to this discussion. A lot of experienced people on this site, and most all of us have been in your shoes at one point. Just don't mistake "realism" with "negativity" as people comment.

Also, sharing is great, but don't give away your golden goose...

Hey Kevin,

I have no issues with no one being honest in there comments, I just want the name calling, put downs, and unnecessary back forth left on someone else's forum..

It provides a distraction for those who want to learn and for those who want to share.

I hope my goose will be under lock and key...

Reply With Quote
The following user says Thank You to futurestar for this post:
 
(login for full post details)
  #5 (permalink)
 kevinkdog   is a Vendor
 
 
Posts: 3,004 since Jul 2012
Thanks: 1,598 given, 5,971 received


futurestar View Post
Hey Kevin,

I have no issues with no one being honest in there comments, I just want the name calling, put downs left some, and unnecessary back forth left on someone else's forum..

It provides a distraction for those who want to learn and for those who want to share.

I hope my goose will be under lock and key...


Don't worry, Big Mike and the moderators keep the hatin' to a bare minimum.

Follow me on Twitter Reply With Quote
 
(login for full post details)
  #6 (permalink)
futurestar
Charlotte, NC
 
 
Posts: 11 since Aug 2013
Thanks: 2 given, 9 received

Here are some of the primary things that should be known about the system.

Platform- I use Think or Swim but, it is not necessary for you to use this. Your current platform will work just fine

Instrument- I have been using this system with the ES & Yen. I have also heard it works will on the Dax, and other instruments. However the time frame (ticks) have to be adjusted to correlate with the volume candles

Timeframe- I will be using 533 tick chart over a 2 day time frame

Indicators- There is only one. Just standard Volume bars at the bottom of your screen

Tools- There are 2. I have a specially configured Fibonacci retracement tool & A Fibonacci extension tool

Other- The only other things that has been added to the chart are midpoints dots that are used to help me measure trades and recognize consolidation points.

So here is what your a plain chart should look like:




Triggers- I use volume to help determine where I should enter. There are 3 thing to remember about high volume in consolidation is that signals either a market reversal, its a midpoint of a market run up, or the mid point for a market run down.

Entry- I enter the market when I have a high volume initiating or completion candle going into/coming out of a swing point.

Exit- Exits are executed based on target projected from the Fibonacci retracement/extension tool

You will become more familiar with the exits and entries as I start posting charts of my trades. But that's it!!!!

Trade Goal: My goal is to net about 3 - 5 pts a day

Reply With Quote
The following 2 users say Thank You to futurestar for this post:
 
(login for full post details)
  #7 (permalink)
futurestar
Charlotte, NC
 
 
Posts: 11 since Aug 2013
Thanks: 2 given, 9 received

Ughhhhh, can someone help the rookie on how to post pics. I thought I was doing it right. obviously not....

Reply With Quote
 
(login for full post details)
  #8 (permalink)
 Jigsaw Trading  Jigsaw Trading is an official Site Sponsor
Site Sponsor

Web: Jigsaw Trading
AMA: Ask Me Anything
Webinars: Jigsaw Trading Webinars
Elite offer: Click here
 
 
Jigsaw Trading's Avatar
 
Posts: 2,982 since Nov 2010
Thanks: 825 given, 10,328 received

Easiest way is to go to "Manage Attachments", upload the pic and then click "Embed".

Forum does resizing and it's a lot better than using a file host.

If you have any questions about the products or services provided, please send me a Private Message or use the futures.io "Ask Me Anything" thread
Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to Jigsaw Trading for this post:
 
(login for full post details)
  #9 (permalink)
futurestar
Charlotte, NC
 
 
Posts: 11 since Aug 2013
Thanks: 2 given, 9 received


DionysusToast View Post
Easiest way is to go to "Manage Attachments", upload the pic and then click "Embed".

Forum does resizing and it's a lot better than using a file host.

Worked like a charm!

Reply With Quote
 
(login for full post details)
  #10 (permalink)
 Jigsaw Trading  Jigsaw Trading is an official Site Sponsor
Site Sponsor

Web: Jigsaw Trading
AMA: Ask Me Anything
Webinars: Jigsaw Trading Webinars
Elite offer: Click here
 
 
Jigsaw Trading's Avatar
 
Posts: 2,982 since Nov 2010
Thanks: 825 given, 10,328 received



futurestar View Post

Tools- There are 2. I have a specially configured Fibonacci retracement tool & A Fibonacci extension tool

Where do these tools come from? Just standard tools with particular settings?

If you have any questions about the products or services provided, please send me a Private Message or use the futures.io "Ask Me Anything" thread
Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #11 (permalink)
 kronie 
NYC + NY / USA
 
Experience: Advanced
Platform: "I trade, therefore, I AM!"; Theme Song: "Atomic Dog!"
Trading: EMD, 6J, ZB
 
kronie's Avatar
 
Posts: 798 since Oct 2009

most scalpers have to pre-anticipate the turn, in order just to land their trades in the turn, if you're experienced, then you'll understand the wisdom of that statement, without being convinced.

simulated trading is a fools errand in comparison to live trading where there's no reset, no replay, no retry, no mulligans, no crying, no sighing that you didn't get more than you did...

often times, TA are described (the tools) as lagging, and they are. anytime you wait on "bar close" to do something, well, there you have it.

often times, TA averages and bands are doubly delayed or lagging, as they smooth out averages of raw data. so, for example channels (whether donchian or keltner bells or otherwise) will show a perfect bottom, indicative of either a retrace or rebound, and on the typical scalpers model, it indicates time for action, when you close an active position and initiate another position in the direction of the anticipated trend..

scalpers loose more than they make, even when doing size of 2 contracts or more, or whether they use minimum gain on first and runner on second. the stop losses add up faster, from over trading...

so, the valid question of what tools you're using, needs to be followed up with a few more questions

one technique that I found very effective is using the advanced features of the dome and simply clicking on "rev on close". you might be surprised what that does for your profitability and success... as always, sim101 first!....

Reply With Quote
 
(login for full post details)
  #12 (permalink)
futurestar
Charlotte, NC
 
 
Posts: 11 since Aug 2013
Thanks: 2 given, 9 received


DionysusToast View Post
Where do these tools come from? Just standard tools with particular settings?

That is correct Dionysustoast. These are just standard tools with a particular settings

Reply With Quote
 
(login for full post details)
  #13 (permalink)
futurestar
Charlotte, NC
 
 
Posts: 11 since Aug 2013
Thanks: 2 given, 9 received


kronie View Post
most scalpers have to pre-anticipate the turn, in order just to land their trades in the turn, if you're experienced, then you'll understand the wisdom of that statement, without being convinced.

simulated trading is a fools errand in comparison to live trading where there's no reset, no replay, no retry, no mulligans, no crying, no sighing that you didn't get more than you did...

often times, TA are described (the tools) as lagging, and they are. anytime you wait on "bar close" to do something, well, there you have it.

often times, TA averages and bands are doubly delayed or lagging, as they smooth out averages of raw data. so, for example channels (whether donchian or keltner bells or otherwise) will show a perfect bottom, indicative of either a retrace or rebound, and on the typical scalpers model, it indicates time for action, when you close an active position and initiate another position in the direction of the anticipated trend..

scalpers loose more than they make, even when doing size of 2 contracts or more, or whether they use minimum gain on first and runner on second. the stop losses add up faster, from over trading...

so, the valid question of what tools you're using, needs to be followed up with a few more questions

one technique that I found very effective is using the advanced features of the dome and simply clicking on "rev on close". you might be surprised what that does for your profitability and success... as always, sim101 first!....

Kronie,
You are correct about anticipating turns, however I'm not so much worried about getting the turn right at the top, but I'm more so worried about recognizing that market has turned and there is enough room for me to execute a trade. I think you will see what I'm referring to when I post my trades.

You are also correct about candles being lagging indicators, especially if you have to wait for a candle to close. However, I'm not good enough to just trade with just a DOM. What's a guy to do? I've pretty done away with all other indicators. With that said I'm still able to bag .5 ticks or better with this trading style.

Hopefully you will find this thread worth your time.

Reply With Quote
 
(login for full post details)
  #14 (permalink)
 kronie 
NYC + NY / USA
 
Experience: Advanced
Platform: "I trade, therefore, I AM!"; Theme Song: "Atomic Dog!"
Trading: EMD, 6J, ZB
 
kronie's Avatar
 
Posts: 798 since Oct 2009


futurestar View Post
Kronie,
You are correct about anticipating turns, however I'm not so much worried about getting the turn right at the top, but I'm more so worried about recognizing that market has turned and there is enough room for me to execute a trade. I think you will see what I'm referring to when I post my trades.

You are also correct about candles being lagging indicators, especially if you have to wait for a candle to close. However, I'm not good enough to just trade with just a DOM. What's a guy to do? I've pretty done away with all other indicators. With that said I'm still able to bag .5 ticks or better with this trading style.

Hopefully you will find this thread worth your time.

it is, hence the bump to push improvement, and the push to help with the understanding or increased insight.

try this, and see what your ability to remember prices are, you'll be surprised with your natural talent

always place T&S next to the Dome, and watch natural price action without indicators, then

open the properties on the T&S and color the selling red background highlight, and buying green or similar and watch the waves of color flush through, then you'll notice another facet of the equation

now glance at your chart, however, have same chart using a 1 bar uni-renko (download from futures.io (formerly BMT) elite) and see what you notice about stopping and starting or continuing or reversing

wonder if that will make sense....
those tools combined with the above approach just might make a significant difference



take look at that commentary also

Reply With Quote
 
(login for full post details)
  #15 (permalink)
futurestar
Charlotte, NC
 
 
Posts: 11 since Aug 2013
Thanks: 2 given, 9 received



Reply With Quote


futures io Trading Community Trading Journals > A Super Simple Scalping Method w/ more setups then you can shake a stick at


Last Updated on August 8, 2013


Upcoming Webinars and Events
 

NinjaTrader Indicator Challenge!

Ongoing

NEW BlackBird Features + FOREX Support w/Jeremy Tang @ SharkIndicators

Elite only
 

Our 12-year anniversary w/ $$,$$$ prizes (check soon)

June
     



Copyright © 2021 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada), info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts