Very basic scalper set up

July 2nd, 2009, 09:25 AM

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.

Thx,

dave

July 2nd, 2009, 09:43 AM

Thanks for the screenshot!
how do you enter your trade -

via countertrend-trade == go long if histogramm crosses below zero
or
via trend-trade == go short f histogramm crosses below zero

i thinks scalping can be both ...

July 2nd, 2009, 09:52 AM

I watch for the 1st bar to cross the zero line and then enter on the 2nd bar. I just started using this this week so it's not nailed down yet.

dave

July 2nd, 2009, 10:19 AM

And this is the same chart w/the MACD, floor pivots and a 20/50/200 ema.

Thx,

dave

July 2nd, 2009, 10:33 AM

nice - and your two trades today has been shorts ?
How about some arrows on the chart ? then we are perfect !

July 2nd, 2009, 10:38 AM

One short, one long.

Next week I'll turn on "show trades on chart" Max and show you where I enter and exit.

As I said, I got info over load and thought I'd try getting back to the basics I learned 8 years ago i.e. ma's, macd, pivots. I really hate indicators because they lag but it's all we got

dave

July 2nd, 2009, 06:46 PM

Max.. I did 5/5 with this today. This is on 2 cars:
Total = 4.5 points

These aren't great numbers but the 5/5 tells me it's a great tool for entries

Thx,

dave

July 2nd, 2009, 06:56 PM

Do you take every trade when the 2nd macd hist confirms? Or do you use some form of validation with the other things? How do you go in chop? I had a quick look back today and sell worked better. I was not taking into account S/R or EMA's.
Thanks for sharing though

July 2nd, 2009, 07:01 PM

Hi Vast,
I don't take every trade, especially on days like today. As far as validation, I'll glance at a chart with the pivots, ema's, etc and then part of it is just having a feeling for the chart.

Again, I just started this Monday so I need a couple of good weeks with vol to see if I can get the 2nd contract to run.

Thx,

dave

July 3rd, 2009, 01:58 AM

well - 5/5 - not that bad

keep us informed how the thing is going on !
in this indicator-madness around here its nice to see some of the clean priceaction-stuff also !

Very basic scalper set up

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Very basic scalper set up