Scalping Entry Signal

though the commoner or non trader thinks small movements are easier to catch,in reality every experienced trader know it is not so:it is not a matter of entering anywhere and everywhere and hoping for movement your way
 
always trade clean charts;do not trade complicated ones to show how smart you are. you do not make more money if you figure something complicated
what is clean see chart
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padutrader said:
in scalping you have to be extremely cautious.

in the chart shown,there is a breakout from a congestion zone so it is not clear which direction market will continue:up into trading range which often acts as a magnet or down.

it is better not to scalp in such uncertainty,at least i would not.View attachment 186760
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I don't like most of your posts to be honest, you might know the lingo but you don't have any idea how to scalp, at all? You don't have open mind and not learned to adapt.

I can do up to 300 trades in a day, you think there are bad times to scalp out a few ticks? Breakouts? Really? They the worst trade a scalper can take, where it breaking out, I am letting retail into their breakout and I am taking profit.

I started trading Big S&P in 1980s when margin was $25,000, it was $500 a point and it traded in nickels, was $25 a nickel, this ES is huge watered down POS, in mid 90s I was doing 20 lots of SP-margins were cut in half, just to get same kick early 2000's, needed to do 200 ES to equal 20 lot and got screwed as ES trades in quarters. And not enough volume to do SP as exchange cut value in half, but ok to use as hedge during the day session.

You might impress others in your sinking boat, but to learn how to trade is manually back testing bar by bar when not profitable, when you find a pattern that reoccurs 300 times & shows something makes money, you learn why it make money, losses are losses, but I have studied your charts and most trades have no validity based on previous movement of price to the left of now. You pooh on Bollinger Bands, why have so many know how to trade them? You have to dig deeper into the why and discover yourself, force yourself to "make" something work.

Trading is tough sport to be worked alone, you still not learned how to read charts, after 20 years, you should be very profitable. @Xela started with very little when she was 18yo after spending 5 years doing demo's, and today she is a successful trader. There are many others who know how tough it is, it is NOT a team sport. No one is going to share how exactly they make a living with you are you be another to compete for better prices. You absolutely have to learn charting better, it is used to show when not to take otherwise good signals.

How is waiting for a breakout any different than buying at bottom of the bar on support than waiting for a breakout, always sounded absurd. Next you be saying you don't sit on a chair and you hover above it cause that was safer?

"in scalping you have to be extremely cautious."
It never crosses my mind in the least of being cautious when am trading, know most of my rules as memory fading, so platform remembers risk management rules which always the same. Same entries day in and out, NOTHING chances, in 20 years you should have seen everything good and bad happen at least six times, it all reoccurs.

I just don't understand you, but I don't understand 99% of people here, I am but a machine.
 
Handle123 said:
No one is going to share how exactly they make a living with you
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there are many who have but it will not make a difference to anybody because they just are not the man who succeed.
You have just told me how to scalp but can i be you?
no.
so traders are secretive for no reason.

But some one who does not know, what he is doing, better be cautious-

advice is subjective and you should not take the same medicine, as i give him, as you so eloquently have pointed out
 
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Handle123 said:
You pooh on Bollinger Bands,
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i do not....they are very valuable but i have found something even better
a pro trader told me his method he uses to make a living so it is not true that traders do not share how they make a living.
 
I guess we need to define scalping. If we are talking about making many trades each day for little profit each trade then I believe few are worthy. My goals are simple - look for $0.25 trades once or twice a day with a goal of $0.50 a week on 1000 shares. Some would say I am scalping.
 
Very interesting thread indeed. I was getting ready to commend padutrader for posting charts then Handle posted a scalding reprimand to padutrader.

I have never learned how to trade Forex on the M1 and was hoping for more charts and commentary. Perhaps it is too much to ask Handle and padutrader and others to post charts and commentary so ElectricSavant can hack your experience and have a coder code it :rolleyes: as he does not have the energy or stamina to take out micro-moves manually.


ES

P. S. I went out into my garage and grabbed another monitor and rearranged some screen real estate. I am getting excited about trading once again. I even fired up some old Forex System EA's and am testing four of them again. That's forward testing. I started them side-by-side and will track which ones lose all the money first:p Now...don't give the crap that I am trading to lose...look I have been at this longer than Handle and others here and I know how to lose better than the best of you (it's the 30% of winners that count).

Here is one of the EA's I have commented on in the MQL 5 forum

https://www.mql5.com/en/code/20397
 
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Here are three other EA's I am forward Testing. I restarted all of them a few hours ago with $500.00 in each platform.

https://www.mql5.com/en/code/19402

https://www.mql5.com/en/code/19655

https://www.mql5.com/en/code/19945

Please express if you would like updates and if there is a few that want me to post I will start a Forex thread...not a Journal as I would never do that to Magna.

ES

P.S. kyamato...please excuse the interruption...folks please carry on. Don't be so shy traders... pm me if you are embarrassed to show interest. I will post a thread if anybody wants me to. We can discuss coding in MT5, trading, automation and Forex if you wish. By the way I have several more monitors I can fire up to forward test EA's.
 
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