T-REX Journal - "Scalping 101"
- Thread starter T-REX
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No you really don't need me that's why I gave you the system set-up below. You can reproduce the below on your computer screen.
The "Swing Vix"- (Black Box) aspect of it along with the Resistance/Support & BreakOut triggers are added features that are part of my own Discretionary trading and can not be reproduced because they are 100% Discretionary/proprietary.
I would not have you dependant on them that is why I have given you the set-up so that you have the "meat of it" (so to speak) and anything extra is just that.....extra but not necessary.
Some people actually like the "relationship" aspect of having a mentor to teach and instruct them on how to better use the method that was handed down to them. Others just want a quick fix to a difficult issue -"Trading profitably for a living" and having someone there to answer questions is not necessary. I understand that aspect of it and I don't like being accused of trapping people into having to "depend" on me for their overall success. That way if should I decide to discontinue my service you and/or should become unable to continue to offer you my "FREE" help , you are not reliant upon me to trade profitably.
I am not a necessary component of your overall success....
....YOU ARE!
Some people will "get it" and other won't.
Everything is not for everybody.
Some people will make it in this business and others wont.
Some will end up profitable while others fail. Success or failure resides with the individual. I have given you all the tools you need to be successful both "with & without" my input.
I'm just here to coach, tutor & mentor you through it for as long as I have this journal here at ET. That is all I can do.
I offer my service free of charge to any and all who ask.
Trading profitably can be achieved and I'm living proof of it.
Now you can be "living proof" as well.
This is my gift to you.
Best of wishes in the coming New Year.
Your friend
T-REX
2 Bar Charlie System (Screen & Chart set-up)
Tools.
Use the 60min Candlestick chart to find current intra-day trend.
Use the 5min &/or 1min Candlestick chart to time entry point.
Technical Indicators.
Use a 40-bar EMA.
Use a Stochastic Line Chart (14,3,3 time periods)
Use a MACD Histogram Line Chart (5,40,5 time periods)
Chart Rules.
When the 5 min bar crosses above the 40-bar MA = buy.
When the 5 min bar crosses below the 40-bar MA = sell.
Filters. (Are not necessary but are useful)
(1.) Wait for the low of the 60 min bar
to close above the 40-bar MA = buy.
(2.) Wait for the high of the 60 min bar
to close below the 40-bar MA = sell.
Big things come in small packages with simple instructions.
Thank You
T-REX
Hi T-Rex,
Thanks for summarizing your entry signal. With 25 pages in this thread, it's helpful to have it all in one posting.
Can you please also summarize your suggested stop loss and take profit price levels if you are trading just one unit, and and if you are trading multiple units?
-- M
Thanks for summarizing your entry signal. With 25 pages in this thread, it's helpful to have it all in one posting.
Can you please also summarize your suggested stop loss and take profit price levels if you are trading just one unit, and and if you are trading multiple units?
-- M
Quote from T-REX:
2 Bar Charlie System (Screen & Chart set-up)
Tools.
Use the 60min Candlestick chart to find current intra-day trend.
Use the 5min &/or 1min Candlestick chart to time entry point.
Technical Indicators.
Use a 40-bar EMA.
Use a Stochastic Line Chart (14,3,3 time periods)
Use a MACD Histogram Line Chart (5,40,5 time periods)
Chart Rules.
When the 5 min bar crosses above the 40-bar MA = buy.
When the 5 min bar crosses below the 40-bar MA = sell.
Filters. (Are not necessary but are useful)
(1.) Wait for the low of the 60 min bar
to close above the 40-bar MA = buy.
(2.) Wait for the high of the 60 min bar
to close below the 40-bar MA = sell.
Big things come in small packages with simple instructions.
Thank You
T-REX
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