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YM scalping


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YM scalping

  #21 (permalink)
Gdansk/Poland
 
 
Posts: 33 since Feb 2014
Thanks: 8 given, 23 received


kronie View Post
nice pictures...

so in that scenario, do you, using the 3 tick no range gap bars (which artificially represents live action), as a strategy to scalp,

wait until the range turns, either on the high side or the low side and then scalp opposite direction?

or do you wait until the range (two parallel lines drawn on chart) is broken, whether top-side or low-side and join in for a range trade?

just curious, how to apply your approach?

incidently, I used to use that method, and I know it works, just not that easy to say how I did what I do!

Basically what I do is, I draw lines for psychological levels (mini Dow for example - 16000, 16025, 16050 etc) on 1 min chart. And I'm watching how the price evolves, if there's an uptrend and it approaches one of these levels I'm looking to buy. Than I check my range bar system and if it gives me a signal to buy I go long. In the morning (EU session I go for 3-4 ticks), during the US session i go for 7-10 ticks. It is the simplest way to explain how I do it It's easier to show, than write Perhaps I should record a short video and to upload it here

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  #22 (permalink)
NYC + NY / USA
 
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mikorn83 View Post
Basically what I do is, I draw lines for psychological levels (mini Dow for example - 16000, 16025, 16050 etc) on 1 min chart. And I'm watching how the price evolves, if there's an uptrend and it approaches one of these levels I'm looking to buy. Than I check my range bar system and if it gives me a signal to buy I go long. In the morning (EU session I go for 3-4 ticks), during the US session i go for 7-10 ticks. It is the simplest way to explain how I do it It's easier to show, than write Perhaps I should record a short video and to upload it here

congrats!

concise, short, brief, easy to remember in the heat of battle...

however,

you're going for way too few points....

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  #23 (permalink)
Gdansk/Poland
 
 
Posts: 33 since Feb 2014
Thanks: 8 given, 23 received



kronie View Post
congrats!

concise, short, brief, easy to remember in the heat of battle...

however,

you're going for way too few points....

so what would be better? what's your opinion about it?

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  #24 (permalink)
Gdansk/Poland
 
 
Posts: 33 since Feb 2014
Thanks: 8 given, 23 received

At 8am GMT there came French data worse then expected and I took a short position with only 3 ticks profit target as there were more news from Germany coming. My system clearly showes me a sell signal. The market dropped 6 ticks and I took only 3, but I'm not trading to take my chances

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Name:	YM 06-14 ( RJay's RangeNoGap  3 Tick)  2014-04-23.jpg
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Name:	YM 06-14 (1 Min)  2014-04-23.jpg
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