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Scalping Techniques That Work

  • #81
  • Jan 4, 2022 6:20pm Jan 4, 2022 6:20pm
Quoting heispark
{quote} Do you want quick death or slow death? It's your preference only. Scalping is slow death. Unless you have an edge, the result is the same. {image}
Hi heispark

“if you have a edge”

Thats all you need to have - if it’s scalping or long term, there is no difference.

You just better have a edge regardless
Trading thin liquidity at the boundary of the charts
  • #82
  • Jan 5, 2022 5:08am Jan 5, 2022 5:08am
Quoting RickM
{quote} Hi heispark
RickM ..

I saw this quote you had made in another thread .
"trading exhaustion at the edge of order flow"
Do you think we can develop or have you ever come across of a system that we could work on ..
such as RSI exhaustion ..
thanks
  • #83
  • Jan 5, 2022 7:20am Jan 5, 2022 7:20am
Quoting ShanA
{quote} RickM .. I saw this quote you had made in another thread . "trading exhaustion at the edge of order flow" Do you think we can develop or have you ever come across of a system that we could work on .. such as RSI exhaustion .. thanks
RSI can't exhaust, it is OSCILLATOR!!!
It has fixed range! It can "exhaust" forever
Observer effect
  • #84
  • Jan 5, 2022 9:13am Jan 5, 2022 9:13am
Hi, anyone here trade using schaff trend cycle and heikin ashi? are those any good?
  • #85
  • Jan 5, 2022 10:07am Jan 5, 2022 10:07am
Quoting ShanA
{quote} RickM .. I saw this quote you had made in another thread . "trading exhaustion at the edge of order flow" Do you think we can develop or have you ever come across of a system that we could work on .. such as RSI exhaustion .. thanks
Hi ShanA

Like ryuryu said, RSI is a oscillator and price can be oversold or overbrought for a long time.
But it’s still a very good tool and my buddy Profitfarmer who I trade live with everyday is a real master of its use.
If you add GeorgeAus target theory as well, you have a really good system.

Check Zoltan thread and see his Stat’s to prove the RSI is indeed a great tool.

I myself prefer measuring expansion of price as an alert then study volume / delta looking to nail the entry point for taking low drawdown trades.

Cheers
Trading thin liquidity at the boundary of the charts
  • #86
  • Jan 5, 2022 10:13pm Jan 5, 2022 10:13pm
Quoting ryuryu
{quote} RSI can't exhaust, it is OSCILLATOR!!! It has fixed range! It can "exhaust" forever
thanks for your comment for my post .. i would add a screen shot of my system and further explain it in RickM post
thanks ..
  • #87
  • Jan 5, 2022 10:17pm Jan 5, 2022 10:17pm
Quoting RickM
{quote} Hi ShanA
Thanks RickM for your reply on my post..
please check the below screen shot
This is the system I'm mainly focusing .. We developed this system according to the Alien Master concepts..
As you can see in the dashboard, check the H4 RSI values...
You can see that values hasn't increased for a long period of time..
like it has created a resistance / exhaustion ( hope I'm correct with the meaning )
Then I took the G/j sell ..
So.. that what I meant in my earlier post

Thanks for RikM , and ryuryu for replying ..
Attached Image (click to enlarge)
Click to Enlarge Name: rsi.jpg Size: 51 KB
  • #88
  • Jan 6, 2022 1:31am Jan 6, 2022 1:31am
Quoting ShanA
Thanks for RikM , and ryuryu for replying ..
Personally I don't trade forex higher that 1m and I can't say how vol/delta works on higher TFs. May be the same way, why not. I'm also using indicators to take a trade, so because of sessions, 5/24, holidays and so on the data of higher TFs is incomplete and corrupted. That's why I have to use lowest TF available to trade.

Also there are no GJ data on CME, so I can't check the volume/delta for that pair and can't trade it too.

I don't know where you get your data, but the main idea looks good.
Observer effect
  • #89
  • Jan 6, 2022 3:38am Jan 6, 2022 3:38am
Quoting RickM
{quote} Hi ShanA Like ryuryu said, RSI is a oscillator and price can be oversold or overbrought for a long time. But it’s still a very good tool and my buddy Profitfarmer who I trade live with everyday is a real master of its use. If you add GeorgeAus target theory as well, you have a really good system. Check Zoltan thread and see his Stat’s to prove the RSI is indeed a great tool. I myself prefer measuring expansion of price as an alert then study volume / delta looking to nail the entry point for taking low drawdown trades. Cheers
Hi RickM,
I have been reading both yours and profitfarmer's trading styles. Very pro, and inspiring.
Just curious, could you expound succintly on pros and cons of one style vs. other. Thanks!
  • #90
  • Jan 6, 2022 7:49am Jan 6, 2022 7:49am
Quoting deukae
{quote} Hi RickM, I have been reading both yours and profitfarmer's trading styles. Very pro, and inspiring. Just curious, could you expound succintly on pros and cons of one style vs. other. Thanks!
Hi deukae

Its best I just talk about my strategy, Profitfarmer's is the best person to ask about how to trades the markets with a RSI indicator.
He just nail profits every day with losing trading days very rare indeed.

As for me, I trade exhaustion which is best seen on a footprint chart as data allows us to visualise exhaustion in pure data, its unmistakeable.

Below is a Gold chart from today which shows an exhaustion event. The pink area display where 95% of available liquidity sits (my settings) and the grey areas are my playground. This is an area barren of either Bids or Asks - meaning price has no choice but to withdrawn back to the liquidity zone.

Here is the important bit- Trade in the grey areas and the Big Players can't trade against us.

Think about it.
Attached Image (click to enlarge)
Click to Enlarge Name: Gold NY.jpg Size: 603 KB
Trading thin liquidity at the boundary of the charts
  • #91
  • Last Post: Jan 6, 2022 8:00am Jan 6, 2022 8:00am
Thanks RickM, I think I pretty much understand your methodology from reading your posts for the past 6 months or so. Same with Mr. Z's. Was just pondering the differences as to why you prefer your style. I guess it's just a matter of personality...? Well, just want to say I am impressed on how it just fits. Thanks again.
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