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YM scalping


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YM scalping

  #21 (permalink)
mikorn83
Gdansk/Poland
 
Posts: 33 since Feb 2014
Thanks Given: 8
Thanks Received: 23


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)
 
kronie's Avatar
 kronie 
NYC + NY / USA
 
Experience: Advanced
Platform: "I trade, therefore, I AM!"; Theme Song: "Atomic Dog!"
Trading: EMD, 6J, ZB
Posts: 796 since Oct 2009


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)
mikorn83
Gdansk/Poland
 
Posts: 33 since Feb 2014
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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)
mikorn83
Gdansk/Poland
 
Posts: 33 since Feb 2014
Thanks Given: 8
Thanks Received: 23

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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Last Updated on April 23, 2014


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