"S&R" Scalps

[nycdweller 10]

Hi Walter,

 

The videos are great!! Thanks so much for taking the time to share this information. I'm really enjoying this stuff and look forward to seeing new videos. These videos are answering the questions I have about support and resistance. Thank you.

[nycdweller 10]

Hi Walter,

 

You mentioned about using tight stops, typically how large is your stop? Are your stops a few ticks behind the support and resistance line? How do you determine how much to risk on each trade as a scalper? Thank you.

[agon 10]

Hi Walter,

Sorry for my Tarzan english by advance.

First, a big thank you for all your threads and all your videos very interesting.

But I have a small question, you say take 4 ticks in some places where between the upper and lower V, there are only 5 ticks.

What kind of front-end do you use to accomplish this feat ?

Would it possible to make a live video where we could understand how you take position and how you get out. I know it's difficult with the concentration, but perhaps a live simulation after you have made your daily target.

Thank you again for all your work.

[walterw 10]

Hi Walter,

 

The videos are great!! Thanks so much for taking the time to share this information. I'm really enjoying this stuff and look forward to seeing new videos. These videos are answering the questions I have about support and resistance. Thank you.

 

Hi Walter,

 

You mentioned about using tight stops, typically how large is your stop? Are your stops a few ticks behind the support and resistance line? How do you determine how much to risk on each trade as a scalper? Thank you.

 

Thanks Nyc, I will try to normally take a stop on -4 -5 max.. now one trick I got is that when things dont go my way I get out with 0 -1 or -2 stop... that helps a lot... the textbook stop should be below/above entry pivot, but when you develop some discernment that things are not working you may want to tight even more your stops... cheers Walter.

[walterw 10]

Hi Walter,

Sorry for my Tarzan english by advance.

First, a big thank you for all your threads and all your videos very interesting.

But I have a small question, you say take 4 ticks in some places where between the upper and lower V, there are only 5 ticks.

What kind of front-end do you use to accomplish this feat ?

Would it possible to make a live video where we could understand how you take position and how you get out. I know it's difficult with the concentration, but perhaps a live simulation after you have made your daily target.

Thank you again for all your work.

 

I use a DOM where you have a lot of features to get some exits automated once I entered manually... If I load more volume some things I do it manually... I am afraid making a video of this will not be possible as camtasia uses excesive resources... but basicly agon, you tell the DOM how many ticks profit you want from where you entered and he will do it automatically for you, if things are not getting there, I get out manually... playing with the DOM its key there... cheers Walter.

[agon 10]

I use a DOM where you have a lot of features to get some exits automated once I entered manually... If I load more volume some things I do it manually... I am afraid making a video of this will not be possible as camtasia uses excesive resources... but basicly agon, you tell the DOM how many ticks profit you want from where you entered and he will do it automatically for you, if things are not getting there, I get out manually... playing with the DOM its key there... cheers Walter.

 

Thank's for you help, I understand playing with the DOM is the key.

I use ButtonTrader myself but I think it is very diificult to take 4 ticks where there are only 5 ticks to take.

This is the reason why a video help us, imho.

For ex : jperl (jerry) (nice guru on this nice forum) made a video with DOM, I think it is possible after your day target will made.

[walterw 10]

Thank's for you help, I understand playing with the DOM is the key.

I use ButtonTrader myself but I think it is very diificult to take 4 ticks where there are only 5 ticks to take.

This is the reason why a video help us, imho.

For ex : JPG (nice guru on this nice forum) made a video with DOM, I think it is possible after your day target will made.

 

 

Give me time agon and I will try to make one... really if price was hit, you will get filled, when you see that you did not get filled and things get lazy, thats where you want to exit manually... I kind of understand what you are meaning on getting filled on so small range... sometimes happens, sometimes not... thats why I get out with +2 or +3 sometimes and still is good bussiness for me... cheers Walter.

[BlowFish 10]

Hey walter do you use your normal trigger for this trade? A couple of entries occur to me.

 

Limit at the line.

BO back below the line

BO of the bar that penetrated/touched the line.

 

I'd go with the first but suspect you might use the last

[walterw 10]

Hey walter do you use your normal trigger for this trade? A couple of entries occur to me.

 

Limit at the line.

BO back below the line

BO of the bar that penetrated/touched the line.

 

I'd go with the first but suspect you might use the last

 

 

BO stands for ?

[BlowFish 10]

Break Out- sorry. Break out in general sense rather than BO of a range. So of a previous bar high low....the 'flip; line itself etc.

[walterw 10]

yes it would be swing of a bar that is testing some of this key levels...

[walterw 10]

Hello fellow traders... Pipper asked me to show what chart I had been looking today for my scalping... So I will attach here the 22t principal

 

 

 

 

I will have to make a confession... Its a little trick not suited for new scalpers yet and not recomended at the begining of this posible learning curve, as it could create confussion to the trader... I also do follow a 6 Tick chart for "very specific timing"...

 

 

 

This things are not easy to diggest at the begining... but once really grasped they are really fun... see ya tomorrow on the chat... cheers Walter.

[walterw 10]

This is one of the S&R setups I will try to focus today... when we get to test an S&R key level expecting a bounce, BUT that bounce doesnt follow thru, we can expect a break of the level.... now instead of timing the entry after the break or in the break itself where you can get to much slipagge, I time right before the break... this can help for a tight stop management as well... good trading today ¡¡ see ya on our new chat room ¡¡

 

 

 

cheers Walter.

[walterw 10]

Mike : this is one of the versions of adxvma coded by Blu-Ray for TS... cheers Walter.

ADXVMA6Test3.ELD

[pipper 10]

thanks very much Walter

 

Anthony

[MC 10]

Mike : this is one of the versions of adxvma coded by Blu-Ray for TS... cheers Walter.

 

Thanks a bunch Walter, and Blu-Ray for doing all the great programming he's helped out with. You guys are great.

 

[bheubach 10]

Mike : this is one of the versions of adxvma coded by Blu-Ray for TS... cheers Walter.

 

Hi Walter,

I've been reading your scalping threads with much interest. The above Tradestation code does not plot 2 lines however. I wonder if anyone else has the ADXVMA for Tradestation?

 

Thanks very much.

Wilson

[MC 10]

Hi Walter,

I've been reading your scalping threads with much interest. The above Tradestation code does not plot 2 lines however. I wonder if anyone else has the ADXVMA for Tradestation?

 

Thanks very much.

Wilson

 

I only asked him for the 6 period setup. I'm sure he has the shorter timeframe and will share that also. These guys are great, you're in the right community for great info.

[walterw 10]

you should plot 2 of those with dif parameters like 2 and 8 maybe... try that... cheers The Chimp.

[Blu-Ray 10]

Here's a copy of the ADXVMA with 2 inputs, meaning you can have a sma,ema or hma added to the main plot line. However, if your trying to get a copy of Walter's chart, then leave the ma line to 1 and the additional line won't plot.

 

But you will have to insert the indicator onto your chart twice, one with an input of 2 and the other with an input of 6. ( for example )

 

Hope this helps

 

Blu-Ray

 

 

ps. Great thread Walter, excellent work.

ADXVMA.ELD

[bheubach 10]

Blu-Ray,

 

Thanks very much, have a wonderful holiday season

 

Wilson

[walterw 10]

This week apart of looking at some candle charts wich I am experimenting, I will be trading my regular flip scalps... some examples from previous sessions :

 

 

 

 

hope you enjoy trading this week... cheers Walter.

[walterw 10]

and the 6t chart environment...

 

[cattus 10]

Hi Walter! I hope that you are well.

 

I have some questions about the equivalence between the tick and minute charts.

 

I made a simple comparison between a tick charts and minutes charts in the EURJPY pair, and I found that there the 5 minutes chart is more less equivalent to the 22 tick chart, and the 1 minutes chart is more less equivalent to the 6 tick chart. But I suppose that it can be different depending on the volatility of the moment.

 

Do you have some equivalent similar to the one of my comparison? Why do you prefer to use tick charts insted minutes (or seconds) charts?

 

Cattus

[walterw 10]

I use tick charts for scalping, its like tape reading on a chart, you get to see whats happening... minute charts are more for longer trades, they give a very nice longer view of whats going on, so having both its very recomendable as they have difernt functions... cheers Walter.