Scalping: 3LZZ DSR

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IgazI
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Re: Scalping: 3LZZ DSR

Postby IgazI » Wed Jul 06, 2022 5:07 am

That looks much better!

Did you gain any new insights?

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Jhx
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Re: Scalping: 3LZZ DSR

Postby Jhx » Wed Jul 06, 2022 5:09 pm

Well, a mix of bad luck and mistakes.

So I realized I have a bit of a problem with entries. The rat trade sometimes comes too late if I see the size of the pullbacks and where price is by the time it happens. I also noticed that a lot of 'momentum' candles come back to the 50% of the body as pullbacks and then continue.

Still a bit of a "catching a falling knife" entry but I attempted doing that as another entry.

GU_07062022_50s.png
GU_07062022_50s.png (182.49 KiB) Viewed 1824 times


By the time I started the run was mostly over though.

GU_07062022_1.png
GU_07062022_1.png (181.79 KiB) Viewed 1824 times


First trade I actually saw hit the TP line but didn't trigger and went back down, while I was wondering why it didn't hit. Lesson is if that happens again that it hits doesn't trigger just move it to break even. That loss was unnecessary.

Second trade worked.

There was a one in between that I didn't take because the SMA was just turning.

Third trade worked.

Fourth trade I don't know what I was doing. SMA was green with a decent angle by that time and it seemed that price was moving up so I was waiting for a pullback and rat entry for a long but it came after a very strong move down. The candle sizes were so long to place my SL that I actually halved my size for that one. Trading for pennies because I'm learning but still.

If I look at that area this way I see that maybe I had no business going long there:

GU_07062022_2.png
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Re: Scalping: 3LZZ DSR

Postby Jhx » Wed Jul 06, 2022 5:23 pm

IgazI wrote:That looks much better!

Did you gain any new insights?

explore.png


Hmm, spent a while looking at that one. Maybe I'm seeing the 'pattern' wrong.

What I'm trying to look at is price going in one direction and then closing below/above all previous closes in that set of 3 (each containing 3 closing ranges).

exploring.png
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But it's not always '3', like here. I guess the amount of 'sets' doesn't matter as much as long as a set of closes finally closes over the rest?

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Re: Scalping: 3LZZ DSR

Postby IgazI » Wed Jul 06, 2022 7:14 pm

Jhx wrote:
But it's not always '3', like here. I guess the amount of 'sets' doesn't matter as much as long as a set of closes finally closes over the rest?

exploring-2.png


If the chart is running well then you can use 2 sets, if it is less than perfect then use a 3 set, if it is in full on congestion then you might use 5;

'3' is the default setting. . .

I am just looking to trade the close over a range from a swing high or low in the direction of the hourly, daily, weekly, or monthly.

- if price is closing higher than a range then it is going higher.
- if price is closing lower than a range then it is going lower.

There is no need to make this harder than it has to be.
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Re: Scalping: 3LZZ DSR

Postby Jhx » Wed Jul 06, 2022 7:47 pm

IgazI wrote:
Jhx wrote:
But it's not always '3', like here. I guess the amount of 'sets' doesn't matter as much as long as a set of closes finally closes over the rest?

exploring-2.png


If the chart is running well then you can use 2 sets, if it is less than perfect then use a 3 set, if it is in full on congestion then you might use 5;

'3' is the default setting. . .


I am just looking to trade the close over a range from a swing high or low in the direction of the hourly, daily, weekly, or monthly.

- if price is closing higher than a range then it is going higher.
- if price is closing lower than a range then it is going lower.

There is no need to make this harder than it has to be.


Ah, I see.

IgazI wrote:I am just looking to trade the close over a range from a swing high or low in the direction of the hourly, daily, weekly, or monthly.


Do you apply the same criteria for determining when to exit?

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Re: Scalping: 3LZZ DSR

Postby IgazI » Wed Jul 06, 2022 10:18 pm

Jhx wrote:Do you apply the same criteria for determining when to exit?



Pretty much . . .

if you want to squeeze it for all it has got then you might use slight variations, like the double break:

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Re: Scalping: 3LZZ DSR

Postby Jhx » Thu Jul 07, 2022 2:01 am

IgazI wrote:
Jhx wrote:Do you apply the same criteria for determining when to exit?



Pretty much . . .

if you want to squeeze it for all it has got then you might use slight variations, like the double break:

double.png


I know this is probably different style, but since I'm still figuring out entries I guess there's nothing wrong in trying. May I ask what do you use for entry triggers?

(Sorry I forgot to ask about entries before getting into exits #-o )
Last edited by Jhx on Thu Jul 07, 2022 2:06 am, edited 1 time in total.

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Re: Scalping: 3LZZ DSR

Postby Jhx » Thu Jul 07, 2022 2:04 am

Also if anyone wants to suggest possible entries for these type of scalps I'm all ears :?

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Re: Scalping: 3LZZ DSR

Postby IgazI » Thu Jul 07, 2022 2:56 am

Jhx wrote:
IgazI wrote:
Jhx wrote:Do you apply the same criteria for determining when to exit?



Pretty much . . .

if you want to squeeze it for all it has got then you might use slight variations, like the double break:

double.png


I know this is probably different style, but since I'm still figuring out entries I guess there's nothing wrong in trying. May I ask what do you use for entry triggers?

(Sorry I forgot to ask about entries before getting into exits #-o )


Those blue column closes within the sets are the actionable closes;

the sets are the ranges that the internal prices close over to trigger an action;

if you are on a 5 minute chart and are looking at 15 minute sets then you are still trading 5 minute closes, you are just using 5 minute ranges as something for price to close over.
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Re: Scalping: 3LZZ DSR

Postby Jhx » Thu Jul 07, 2022 9:22 pm

These are today's trades.

First one price was going down fast, jumped at the 50% retrace. Didn't work. Aimed for 1:1 (between the candle open and candle close).

Second one was a rat entry, price couldn't close over the SMA and was still red, so I took it. That one didn't work either.

Third one bias still short, it was close to being another rat entry but didn't get to the trigger. Nontheless that candle was very weak so I went short on the next (at the low of the candle that would've been the entry). Worked for 1:1.

Fourth was in the next big candle, 50% retrace scalp. That one worked.

GU_07072022_Trades.png
GU_07072022_Trades.png (176.04 KiB) Viewed 1524 times


Then price started reversing, crossed SMA, and changed bias to long after waiting some time and seeing that price closed over:

GU_07072022_BiasChange.png
GU_07072022_BiasChange.png (71.38 KiB) Viewed 1524 times


Still the move was very steady and couldn't get in, until there was a pullback, I saw (what I consider) a mini zline of that green candle closing over, and entered when it came back down. Still not much movement so when I saw that large wick after the entry candled I moved my original 1:1 TP down and grabbed 3 pips.

5th one was a 50% retrace on that smaller momentum candle but got nowhere and exited at BE after a couple of minutes.

So just around 2 pips positive I guess.

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