Price Action Scalping

This is a discussion on Price Action Scalping within the Discretionary Trading forums, part of the Methods category; Originally Posted by addy123 Mike did you add me on skype? Addy I have answered you before. I do not ...

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Old Mar 12, 2012, 9:29am   #17
Joined Mar 2012
Re: Price Action Scalping

Mike Kshemaraja started this thread
Quote:
Originally Posted by addy123 View Post
Mike did you add me on skype?
Addy

I have answered you before.

I do not use skype, if you like to communicate, this thread will do.

Last edited by Mike Kshemaraja; Mar 12, 2012 at 9:40am.
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Old Mar 12, 2012, 10:28am   #18
Joined Mar 2012
Re: Price Action Scalping

Great job mike. What pip spread does ur broker give u?
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Old Mar 12, 2012, 10:37am   #19
Joined Mar 2012
Re: Price Action Scalping

Mike Kshemaraja started this thread Ok, made another trade, I saw an opportunity.

4th trade of the day.

Range barrier, the overall trend is up.

Two fail breakout (A and B). In the first (A) I did not get in there because I just got out of my last winning trade.

In the second (B) I did not get in because the way she broke and also the previous HL's and the overall trend made me think that the bull were running the show.

When she broke the 3rd time (C) I did not get in straight away because of (A),

But then she formed a block with 3 touches (battle), at the break (double pressure) I got in at market 1 pips above the block.

She went a bit up, bounced a bit at the round number (blue line) and find support
exactly above the block.

Made 10 pips. 2%

This is it for me for today.
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Last edited by Mike Kshemaraja; Mar 12, 2012 at 10:49am.
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Old Mar 12, 2012, 10:53am   #20
Joined Mar 2012
Re: Price Action Scalping

Mike Kshemaraja started this thread
Quote:
Originally Posted by addy123 View Post
Great job mike. What pip spread does ur broker give u?
The spread is important, at the moment is 0.7 and most of the time is about that.

LO is a good time to trade, if there is news coming, I suggest to wait for the outcome.
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Old Mar 12, 2012, 11:21am   #21
Joined Mar 2012
Re: Price Action Scalping

0.7 is good. Ig markets give me 2 pip!!
1 if i do 20 trades a day, but i have a. Job so trade 2 days week
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Old Mar 12, 2012, 11:26am   #22
Joined Mar 2012
Re: Price Action Scalping

Mike Kshemaraja started this thread
Quote:
Originally Posted by addy123 View Post
0.7 is good. Ig markets give me 2 pip!!
1 if i do 20 trades a day, but i have a. Job so trade 2 days week
You cannot scalp with 2 pips spread, above 1 your chance will be diminished, with 2 you have not chance, I will pm the broker's name.

Last edited by Mike Kshemaraja; Mar 12, 2012 at 12:59pm.
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Old Mar 13, 2012, 12:46am   #23
Joined Mar 2012
Re: Price Action Scalping

Mike Kshemaraja started this thread Hi all

New day, just arrived at my screen, a nice push up just happened, let see.
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Old Mar 13, 2012, 5:00am   #24
Joined Mar 2012
Re: Price Action Scalping

Mike Kshemaraja started this thread Not any trades yet, missed a two good entries (A and B).

When the market is quite, we tend to get distracted by things that do not concern trading which develops into a lack of focus, which is essential in scalping and hopefully we will learn from it.

I am only pointing this out, to underline the importance on focusing, and at the same time I would like very much to say that there is not any gain into crying over a missing trade, but will only make us lose our focus into the next trade.
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