jkshemaraja

I am also interesten in tick candles(70 tick), cannot find a broker that supplies that. Any suggestions?

This make sense to me, I pure scalper. I would have a TP though, just because target can be reached and react. On a 10 pip TP with and average loss of 7 pips, a 50 % winning trades, the account can grow quite considerably. jk

Scalping is very much possible for the retail trader. In my view the only way. Why do most traders fail in doing it? Because they gain the wrong education. Patterns, set ups, technical analysis do work but in the contest of the overall market in the direction of the least resistance, they all need to be backed by strong underlying conditions. The above needs to be used as a mean to get on a trade in technical fashion, and not because that little pattern is convincing us on the matter of market condition. A trader should not be convinced on ant kind of matter, not by fancy indicator, not by other people, and not even by himself. All the informations necessary is already displayed through the price bars in the chart. Why look for more or question what is there? The pressure is either up, down or neutral. If is pushing price more one way than the other, without much resistance in sight, a trader simply sits tight until he spots a tradable setup that offers him a good entry to participate. The actual shape of the setup is quite irrelevant. jk

My second trade of the day, similar to the first but the range was smaller. The left side of the chart, clearly shows that the trend is down, market pulls back and forms a range defined by the lines, also forms a double top (1 and 2). I will start to get ready, she breaks the bottom line of the range and I do nothing because of the way she broke, she pulls back and prints a doji just at that line, I am in at market 1 pip below that doji, she pulls back twice and forms another double top (3 and 4), now I feel is working in my direction, but Im ready to get out also in case thinks do not work out (above the double top). I had a larger TF and SL due to LO, my target was reached, made my 10 pis, another 2%. 4% total for the day. Sound easy, doesn't? But is not. Doable for sure but not easy, passion will help. Done for the week (trading). Take care. JK

First trade, keep in mind that I have been working, monitoring at the chart for more then seven hours, not intensively but more of a tactical overlook. Prices broke the bottom line of the range (1), a long range, pulled back to the broken line and printed a doji bar (short bar), as soon as prices broke his low by one pips I entered at market. My SL was placed 1 pip above the last swing (2), because those kind of break without pre-tension tend to pullback to the last swing normally, not in this case though where price just stalled at the broken line and once the bull let go of the rope they became bears as well. Made my full 7 pips, 2%. Hard day though but all part of the business. I do not mind make 2% every day. jk

In the actual marker, however, things may not be so evident as they tend to appear from the safe distance of hindsight evaluation. In fact in the reality of a live trading environment it is very easy, and common to even miss the best looking set ups, purely a trader, at the time, does not expect the market to behave like it does. This is why it is important to not limit your thinking by imaging what is going to happen next and then needing to see it materialise. Particularly on the verge of exploiting a technical situation, this little mind-game of predicting how a set up will present itself, as if to prove your skills to some fictitious bystander, can have a detrimental effect on your ability to see the price action in its proper light. The moment you expect the market to behave and break in a certain way, and the market defies that, you stand to lose your face in your own scheme of things and it may hurt your ego just long enough to completely miss the alternative break. "a little thought from my friend Bob" jk

Tough day, today. Market very much into the range, not trades for me till now. From bottom to top lines only 9 pips distance. Lets see. jk

This is what I am looking at, is 10.47 am my time. My TF is 30 seconds, the yellow line are level of support/resistance, the blue lines are lines of round number( 20, 40, 50, 60, 80 and 00, the ema is 20. What I am looking for? There are battle going on all around, my job is to spot them and join in only when one of the part does let go of the rope. Clear focus is needed, only when I am sure of it I take a trade, many time I miss good trade, but I do not care, I trade my odds, if all the condition are not there I pass. My best position is to stay aside. jk

Lets create a thread based on visual scalping. BS and egos trips are not welcomed and respect for others is a prerogative. Post your charts with comments, so helpfully with can create a healthy exchange of ideas. And specially post your losing one, those are more important, shows a lot about us. I trade only eurusd because of the tight spread mostly during Asian session. Lets see if we can create something decent. JK

Risk Tolerance UP TO 2% Probabilities of specific targets ? Psycology VERY IMPORTANT BUT NOT ESSENTIAL. Do you "need" a lot of short term winners? NO Do you scale out? NO Do you build a position on rotations & have targets? NO BUILDING Do you let the market take you out? Trailing Stops or ATR Stop, etc. NO, ONCE I GET MY 7 PIP I AM OUT, SOMETIME I GET OUT BEFORE DUE TO TECHNICAL REASONS Do you exit if you have a fixed profit target? YES Are you all in all out.. ? ? JK

Second trade of the day: long. I missed at least another good set up (I was not around), but hey, they are all easy afterwards . The trend was up and pulled back formed a two higher lows (1 and 2), I saw a bit of a battle going on and two dojis printed just below the signal line (yellow) and got in as soon as prices printed 1 pips above the high. I did not like those two pull back bearish candle just prior to my entry bar, I would had prefer a bit more pressure instead as dojis candle before the break. Prices then pulled back below the signal line but still producing a higher low (3) and a test of that low (4). Clearly the bulls were still in control. She then went nicely higher but not reaching my target, then a huge pullback but still forming another higher low. The time she formed another double top and I got out. She did eventually reach my target, but hey I am not here to be right, I here to play my odds. Made 5.1 pips on 2% risk (7 pips) Total 9 pips for today (two trades), just over 2.5%.

I trade the 30 seconds TF. I do no look at bigger TF ( only at the last three hours) and my trades are based on price action. Only indicator is the 20 ema for visual issues. I trade only eurusd with a spread less than a pip ( my platform have a 0.7 spread). Mostly I trade during Asian session and my SL and TP is set the moment of entry at 7 pips. My losses have an average of 4 pips. My risk per trade is 1 to 2% per trade, and I only take one trade at the time. When we have winning trades we are not taken money out of the market, but we are taking money out of other traders. The right education is vital in my view to be able to make money. My first trade of the day. Went short. I trade the 30 seconds TF. Prices broke the bottom level of the range. Why did I not get in, when prices broke 9 candle before? Because there was not any build up before the break, (see the two doji just before my actual entry) and if there is not pressure, I like to stay aside (my favourite position) Soon after my entry, she pulled back forming a double top (1 and 2) and went down through the round number of 1.3140. Soon after that she pulled back strongly back to the double top, at that stage I was ready to get out of the trade if she was going to close above the double top, (less than my risk) but she did not and went down again and I got out before my TP got reached because a double bottom formed. Made 4.9 pips on 2% risk (7 pips)

Second trade of the day: long. I missed at least another good set up (I was not around), but hey, they are all easy in hindsight. The trend was up and pulled back formed a two higher lows (1 and 2), I saw a bit of a battle going on and two dojis printed just below the signal line (yellow) and got in as soon as prices printed 1 pips above the high. I did not like those two pull back bearish candle just prior to my entry bar, I would had prefer a bit more pressure instead as dojis candle before the break. Prices then pulled back below the signal line but still producing a higher low (3) and a test of that low (4). Clearly the bulls were still in control. She then went nicely higher but not reaching my target, then a huge pullback but still forming another higher low. The time she formed another double top and I got out. She did eventually reach my target, but hey I am not here to be right, I here to play my odds. Made 5.1 pips on 2% risk (7 pips) Total 9 pips for today (two trades), just over 2.5%.

My first trade of the day. Went short. I trade the 30 seconds TF. Prices broke the bottom level of the range. Why did I not get in, when prices broke 9 candle before? Because there was not any build up before the break, (see the two doji just before my actual entry) and if there is not pressure, I like to stay aside (my favourite position) Soon after my entry, she pulled back forming a double top (1 and 2) and went down through the round number of 1.3140. Soon after that she pulled back strongly back to the double top, at that stage I was ready to get out of the trade if she was going to close above the double top, (less than my risk) but she did not and went down again and I got out before my TP got reached because a double bottom formed. Made 4.9 pips on 2% risk (7 pips)