scalping eurusd

Discussion in 'Journals' started by cvds16, Dec 25, 2017.

  1. cvds16

    cvds16

    As from ruesday (I live in Europe) I am going to start an eurusd journal to keep me alert and disciplined. I have been working hard on a new system. It use multi-timeframe: 10M, 15M, 30M, 1H, 4H and daily. I mainly use price action in combination of a few indicators. I got ema20, ema50 and ema200 on all my charts + stochastics (14,3,3) + ATR(200). This last one I multiply by 1.5 to calculate my stops.
    The intention of my trading is as I like to call it 'taking the meat in the middle' so I trade mainly with the bigger trend although countertrade can happen. I like to look for divergence setups in good combination of price action. The idea is to aim for zero losses (yes, you read that right , I am not joking :) ). I am using Tickmill UK as my broker which has 0.1 to 0.2 pip spread in eurusd. Sometimes the spread even falls zero. They only ask a tiny commision for this 4 usd per lot. I won't be giving away how I trade exactly so don't ask (it took me over 10 years to finally get it, I am not going to give the keys to the castle away for free). I will be posting my trades though and maybe you will find the reason in your own charts ...
    Somting about me: I used to be index floor trader in Amsterdam about 25 years ago not that that was a real succes. I later become on of floor trader in options and futures trading mostly on feel and some charts. That went initially well untill I lost my touch. Ten years in the financial world I switched to option arbitraging by being a kind of market maker in options quoting one side markets in the DIA in about 20 to 30 series of the first two months. I used an option model that I had programmed in Visual Basic into Excel and kept track with that of my positions and my Greeks keeping things neutral as much as possible I was basicly buying options below theoretical price as I saw it and selling them above theoreticcal price. I had a way of adjusting my guestimate of vol with skew along the series. This was incredibly profitable: I guestimate over 90% of my trades were profitable and I made 500 to over 1000 USD a day. Losing days were no more than 2 a month and even then it was something like 50 USD (this only happened on days when vol used to move in a spectacular way. However that too came to an end when Interactivebrokers started to charge for options cancellations. I used to send about 1000 quotes to the market and of them about 800 were cancellations/price adjustments.
    In 2007 I started to trade eurusd. Not that that has been a great succes so far. Luckily I had the idea of keeping trading small as long as I didn't have a clear set of rules. But even then I bleeded money (in small amounts) over that period. Since then I have been trading eurusd for most of the time (I did a few jobs too in administration). Due to having health problems I won't be working again in the near future and turned my trading eurusd into some kind of hobby. I finally seem to have made some breakthrougs in understanding price action so let's put this a bit to the test in my journal :)
     
    Last edited: Dec 25, 2017
  2. cvds16

    cvds16

    My first trade will be to short at 1.1863 with a target of 1.1843.
     
    lablinks likes this.
  3. cvds16

    cvds16

    I will be adding to the short @ 1.1858 also with target of 1.1843
     
  4. cvds16

    cvds16

    my guess is we are going straight to 1.1816 on the way down, but this is not about hoping, praying or guessing ... so I need a signal on my 3H chart to confirm this ...
     
  5. Gambit

    Gambit

    So you average into your trades all the time?
     
  6. cvds16

    cvds16

    No, I don't average into a position. Most of the time I have levels I like to watch and where I look for some pattern. Sometimes my signals are confirmed by a second signal and I can add some to my original position. If unsure I might close my position only to open it in the original direction somewhat later. Sometimes I have levels where I might reverse too. It's not easy to explain even if I wanted to provide more details.
    I think of the market as a chaotic system where you can only see so much into the near future. My longer term view is that we are going to 1.1717 but there will be a lot of scalps in between in other wors, it won't be a straight yourney into that level. My guestimate is that will be a level that will take us about 115 pips higher.
     
  7. Visaria

    Visaria

    U r trading on Xmas day?

    Chill out dude.
     
    niko79542 likes this.
  8. cvds16

    cvds16

    I had my party allready. I live in Europe.
     
  9. cvds16

    cvds16

    I think I am going to refrain from entering my short trade: first I am going to see where the market opens. Apparently Oanda is opening higher than I thought. We'll see ...
     
  10. cvds16

    cvds16

    Learned allready a thing and it didn't cost me: don't stay overnight during weekends.
     
    #10     Dec 25, 2017