Scalping: 3LZZ DSR

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aliassmith
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Re: Scalping: 3LZZ DSR

Postby aliassmith » Wed Jul 27, 2022 4:42 am

Jhx wrote:Ok more charting on the EU. Between MT4's trendlines snapping and my own charting it looks like a rabid cat mangled the crap out of my charts. But again, I'm trying to get used to the patterns and their crookedness :lol:

Didn't take the shorts because bias was still long, but just following price and waiting for stuff to happen.

EU_Again.png

Tomorrow I'll go back to GU and see how my session plays out with this new knowledge :shock:


Your dot to dot is looking good. Can you make money with it?
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Re: Scalping: 3LZZ DSR

Postby Don_xyZ » Wed Jul 27, 2022 7:01 am

You got the sword. Time to sharpen.
Do you trade money for time or time for money?

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Re: Scalping: 3LZZ DSR

Postby Jhx » Wed Jul 27, 2022 5:00 pm

Had to start late today so I missed the first two moves. But this is the session:

Original Chart:
GU_07272022_0.png
GU_07272022_0.png (133.09 KiB) Viewed 420 times


My lines. I guess there is some subjectivity involved in drawing the lines but the overall idea would be similar I think.
GU_07272022_1.png
GU_07272022_1.png (144.2 KiB) Viewed 420 times


Explanation. I'm trying to be as visually clear as possible as how I'm seeing moves changing but I guess it's hard to do:
GU_07272022_2.png
GU_07272022_2.png (109.81 KiB) Viewed 420 times


So 3W, 1L. Some patterns have a similar shape with some differences, but they have the same idea, continuation of a reversal (except trade #3 where I just took another continuation). TBH I don't have any names for these. I just see price breaking previous swings and going with that until they show something.

'Fat' candlesticks make it harder for me to see the price movement so that's why I made them thinner. I tried bar charts after doing this and I didn't dislike them at all, I think they're easier to see if I plan on looking at the chart in this way, but I'll keep doing it with what I have for the time being.

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Re: Scalping: 3LZZ DSR

Postby Jhx » Wed Jul 27, 2022 5:04 pm

aliassmith wrote:
Jhx wrote:Ok more charting on the EU. Between MT4's trendlines snapping and my own charting it looks like a rabid cat mangled the crap out of my charts. But again, I'm trying to get used to the patterns and their crookedness :lol:

Didn't take the shorts because bias was still long, but just following price and waiting for stuff to happen.

EU_Again.png

Tomorrow I'll go back to GU and see how my session plays out with this new knowledge :shock:


Your dot to dot is looking good. Can you make money with it?


Hopefully, we'll see :lol: .

Don_xyZ wrote:You got the sword. Time to sharpen.


Finally, a good start :mrgreen: . It's one of those times where I actually think I'm starting to get better, which doesn't happen too often at this :lol: .

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Re: Scalping: 3LZZ DSR

Postby Jhx » Wed Jul 27, 2022 5:32 pm

Just as practice, I took Yirbu's chart which was a very ranging session and tried to see how I'd look at it.

EU_Yirbu.png
EU_Yirbu.png (74.67 KiB) Viewed 415 times


Zoomed in:

EU_Yirbu copy.png
EU_Yirbu copy.png (69.74 KiB) Viewed 414 times

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Re: Scalping: 3LZZ DSR

Postby Jhx » Wed Jul 27, 2022 7:41 pm

So it was about this? The lines aren't that pretty but that's how I'm seeing it :?

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Re: Scalping: 3LZZ DSR

Postby Jhx » Thu Jul 28, 2022 3:30 am

These weeks I'll have a bit more time than usual, with also having some time during Asian session and want to make the most out of it. GU doesn't move much at all during Asia, but AJ moves a lot, so I'll be watching that one sparingly during Asian session.

That drop :shock: . I opened it later though, but I got one short scalp for 1:1 after all that :)

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Re: Scalping: 3LZZ DSR

Postby Jhx » Thu Jul 28, 2022 3:50 am

This is just an observation, but even with the idea of close above / close below with momentum candles, the pattern is still there :)

A bearish zline and a bearish dojizone for those shorts.

AJ_AboveBelowPattern.png
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Re: Scalping: 3LZZ DSR

Postby aliassmith » Thu Jul 28, 2022 4:43 am

Jhx wrote:This is just an observation, but even with the idea of close above / close below with momentum candles, the pattern is still there :)

A bearish zline and a bearish dojizone for those shorts.

AJ_AboveBelowPattern.png


Yes thats the micro bias I referenced.
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Re: Scalping: 3LZZ DSR

Postby Jhx » Thu Jul 28, 2022 4:31 pm

Today's trades. 3W 2L. My session starts at the blue line. There were other trades before that that I'd take; even if they are outside my session I mark them up as practice.

1st trade worked fine.

2nd trade worked fine.

3rd trade was a failed continuation. In the moment (and even in hindsight) it looked good, but maybe there's something I'm missing. I'm trying to understand when it's just the market and when it's an interpretation mistake.
Note on trade 3: This happened twice so far I think, and I wouldn't say it's an 'issue' but it's important to note; I can't know when the pullback really ends, so I just wait it to retrace a bit and then enter (or if the previous candle ended with a wick I'll just jump in when it breaks it). In this case it pulled back, then went up, then went down again, then up. So I got stopped out in the same entry candle.

4th trade was a fail. Bias was long for a long time so it takes some time for the SMA to change its slope. I guess that's a good thing to avoid getting caught up in a bad range. So I started following price and waited for price to go up, and down again, which happened (and by that time the SMA was sloping down), so I took the short. Failed relatively quickly and it turned into a range. That's why I didn't take the next short trigger, as it was very close to the end of the range.

5th trade worked but very tight. Not the best but worked out. It was similar to the trade I had just skipped, but it wasn't at the end of the range. There was a small room for price to go down again after the entry so I took it.

And then price kept ranging.

More observations:


Some trades were ok, I think I did well not taking those 2 trades that would've been losers. There were 3W and 2L, but when I factor in the spread/commission, with the stops being tight as they are sometimes, it goes just barely above break-even.

Take a 3 pip distance to SL, targetting 1:1. It's +3 or -3, but when you count commission/spreads (let's say 1.5), it goes to -4.5 or +1.5. It turns into a 3:1, which would require a really, really high winrate to pull off (and even then the losing trades might feel 'heavier').

If I'm going to use stops this tight I need to find a way to let them run longer, exiting them at 1:1 seems like a bad plan on those. As always, open to suggestions.

GU_07282022_1.png
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GU_07282022_2.png
GU_07282022_2.png (42.57 KiB) Viewed 189 times

GU_07282022_3.png
GU_07282022_3.png (43.61 KiB) Viewed 189 times

GU_07282022_4.png
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