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Joab, 1. I do agree with you and thats why I only trade Futures (The examples above are FX futures and I used only for explicative purposes... it also works for stocks). 2. My central point is not the exact timeframe and instrument you should trade but that any SMALL DAY-TRADER should...

b. The direction of the current move (“wave” direction) The macro direction is showing that you should look for shorts and u know that price moves in waves, therefore a scalper must establish which exactly the direction on the current move is (only the last few bars). 1. With...

I, More than scalping in the direction of a trend is trading in the direction of the current wave... It seems kind of a vague "academic" difference but let my try to explain you in the next posts... a. The direction for the current time (“macro” direction) I read this somewhere...

Icarus5, According to his author is a method for scalping very fast timeframes. In general you plot many Weighted Moving Averages (10,20,30 to 240 WMA) and you use Horizontal and Vertical Grids to trade... However, for me it is just a visual aid (I dont use it anymore...). If you are...

“Trading is just a probability game based on pattern recognition” Forgetting waves in the analysis definitively reduce the probability of good trades but is the analysis of direction where everything gets messed up. 1. Markets are always going in a direction even if your timeframe...

“Trading is just a probability game based on pattern recognition” (taken from italianfx email) If every potential trade is a probability game, the job for a trader/scalper is not forecast the future but to minimize risk using every available tool to find the best available scenario...

A couple of weeks ago I started a thread (“going back to the basics”) but I am moving it to elitetrader ‘cause I think a broader audience can enrich its content. Feel free to post any NON COMMERCIAL HONEST suggestions, ideas, questions or comments. The beginning … “In the last...

More than trend or choppy markets I prefer to see markets as "tradable" or "non tradable". You can have choppy conditions in a tradable market as you described above or also you can have trending markets that are "non tradable". At the end everything is about perception!!! Look at todays...

Simple ideas work as long as you dont forget price analysis !!! jjrvat

“Trading is just a probability game based on pattern recognition” If every potential trade is a probability game, the job for a trader/scalper is not forecast the future but to minimize risk using every available tool to find the best available scenario. jjrvat

Marc, I also scalp the DAX... It sounds interesting the idea of the chat room I'll be there on monday... jjrvat

The last 6 months E/J pair has become THE PAIR in forex. + 200 pips average per day the last few months. Last month +220 pips per day with days with more than 300 pips plus is probably the only one tradable at the hours you want to trade (japan opening). However, I prefer to wait until...

I do agree with you 100%... Any suggestions welcome.... jjrvat A clear downtrend....

Definitively, it’s not mandatory to understand economics in order to trade. I do agree that it’s difficult to trade during news and also that one can trade just based on technical analysis. However I do agree with TrueStory. Like it or not fundamentals are the main reason that move the...

B 1. I trade currency futures so spread is not an issue (bid/offer is always 1 pip). My broker is Open e Cry. Good customer service, decent commissions, below average charts (ok if you don’t use fancy charts and indicators). I only trade 3 contracts max so fillings during “normal”...

Risk Reward Ratios and Time frames: Scalping: (1:1.5) 1 - max 2 pips / MAX 3 min time exit. Short term: (1.5:1) 8-10 pips / Max 20 min exit "Long Term": (2.5:1) 15-20 pips / "Flexible" KGB, Sounds interesting but if you don’t mind could you explain what do you mean as...

Some people in this thread have tried to generate a debate around your original post but apparently I misinterpreted what you were looking for: I thought you wanted to earn some extra bucks on top of your profits full time trading stocks and if these extra profit targets you had were...

Hi B, I mainly trade currency futures in particular the Eur/Usd and Yen. I avoid trading important news. I wait until the news settle down and after that follow the direction of the fundamentals behind the news. I definitively prefer to trade the European session especially during the London...

What about expected shortfall or semivariance?. An for small traders, the simply use of Bollinger Bands with 3 STD will do a good job too. jjrvat

jj, I never denied that very few small traders can make “millions”. I even congratulated you to be one of them but please if you’re going to use my opinions at least quote them correctly: 1. I said [SMALL TRADERS USUALLY ]. I didn’t say ALL and especially I wasn’t referring to...