Mahmoud70 (OP)
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Activity: 33
Merit: 1
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March 17, 2021, 05:01:25 PM |
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I've been looking for good scalping strategy's and I think scalping when you see a coin god an unnormal volume, I tried to use a scanner like the one on trading view but didn't know what setting to put on it as a scalper, what are the ways to find the deal for you? how do you rate the deal before going in? what strategy do you use?
for me I rate the trade like this point for an Elliot waves pattern point if there's a bullish divergences on the indicators point if there's a classic pattern (triangle, channel, etc..) point for the candle i want to join after point if there's a good volume looking in the order book to see any big orders in any price to count them as resistance or as Support, and see how the bid and ask is going. looking at the fip level and see where are we on it looking at volume profile resistances or Supports
what do you think of my way of trading? , tell us how you scalp.
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JooBra
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March 17, 2021, 07:27:27 PM |
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You are on point with you analysis but for me personally I do more research around the project to see if there is something big happening soon. It proved for me to be better then only to focus on charts. As for leverage trading I do that at x10 and I always put a stop loss at -1.5% and take profits around 2% or more it depends of situation. For leverage I focus more on charts but usually coins track BTC so you can go by that if you don't want to go any deeper in it.
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Fatunad
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March 17, 2021, 07:33:30 PM |
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what do you think of my way of trading? , tell us how you scalp.
Usually these things do particularly means with price actions. Things ive been using? Common ones. -Fibonanacci -EMA -RSI -MCD -BB -Some candle patterns (Usually reversal ones) These are the main technical tools ive been using when doing day trades.
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Mahmoud70 (OP)
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March 17, 2021, 10:21:13 PM |
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You are on point with you analysis but for me personally I do more research around the project to see if there is something big happening soon. It proved for me to be better then only to focus on charts. As for leverage trading I do that at x10 and I always put a stop loss at -1.5% and take profits around 2% or more it depends of situation. For leverage I focus more on charts but usually coins track BTC so you can go by that if you don't want to go any deeper in it.
how could I follow 6000 coin events? , and how can I know the right news to follow? , you know, there's a lot of fake news and media.
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goaldigger
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March 17, 2021, 10:34:01 PM |
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Scalpers have to do their best to see the best entry and exit point, I’ve tried this before using Fibonacci, EMA, MA, and I tell you that its really stressful. I’m quiet contented if I made a 5% profit as a whole everyday.
Price analysis is very important, scalpers have to plays the market with a lot of strategies and we all have different approach as a scalpers. This can be more profitable if you’re playing with a good capital, again this is risky so you should not do this if you’re a newbie in trading.
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adaseb
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March 18, 2021, 04:22:19 AM |
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How many scalpers do you know that are actually successful? Honestly we all want to be scalpers however its extremely difficult being profitable this way in the long run. You should just focus on longer term trades instead of trading the 1 minute chart trying to gain 0.50% using 25x leverage.
The M1 chart is just so random at times and it can be very unpredictable, save yourself the headache. If you trade the hourly or daily you and thousands of other traders are probably looking at the same pattern and you got a decent chance of the trade working out. This is why its easy trading stocks on the daily because there are many technical traders out there that look at the same thing as you and when it hits a certain price usually there will be a reaction. This is not possible on the 1 minute charts.
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maxreish
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March 18, 2021, 05:46:03 AM |
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There is nothing wrong about your usual activity, if that benefits you and gives you profits as a Scalper then you can just do your normal deals. Although, I didn't do much as what you are usually doing, because I only used three indicators (MA, RSI and Stoich rsi), I also do some check with divergence and volume as it is a great help for me but whatever your deals, just do not forget to integrate stop loss.
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Mahmoud70 (OP)
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March 18, 2021, 06:51:18 AM |
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There is nothing wrong about your usual activity, if that benefits you and gives you profits as a Scalper then you can just do your normal deals. Although, I didn't do much as what you are usually doing, because I only used three indicators (MA, RSI and Stoich rsi), I also do some check with divergence and volume as it is a great help for me but whatever your deals, just do not forget to integrate stop loss.
i don't really use stop limit, my deals are usually 24h long max, I usually put alerts if a price drops down, but not an SL
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JohnBitCo
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March 18, 2021, 09:03:15 AM |
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what do you think of my way of trading? , tell us how you scalp.
Usually these things do particularly means with price actions. Things ive been using? Common ones. -Fibonanacci -EMA -RSI -MCD -BB -Some candle patterns (Usually reversal ones) These are the main technical tools ive been using when doing day trades. Other then these indicators, it is very important to trade in a certain time frame. If you are scalper, it not good if you open the 4hr chart and apply these indicators there. You need to focus more on 15 mins or 5 mins charts and identify the M and W pattern to quickly get-in get-out of the trades.
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palle11
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March 18, 2021, 11:39:58 AM |
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what strategy do you use?
for me I rate the trade like this point for an Elliot waves pattern point if there's a bullish divergences on the indicators point if there's a classic pattern (triangle, channel, etc..) point for the candle i want to join after point if there's a good volume looking in the order book to see any big orders in any price to count them as resistance or as Support, and see how the bid and ask is going. looking at the fip level and see where are we on it looking at volume profile resistances or Supports
what do you think of my way of trading? , tell us how you scalp.
IMO sorry all these opinion and rating you listed does not represent a scalpers too and focus except few. As a scalper, they concern with timing and unusual with very low time frame like 5, 10 or 15 minutes trade time to out of trade. They may look for candle formation, support and resistance. It is timing for a scalper.
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GreatArkansas
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Buy/Sell crypto at BestChange
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March 18, 2021, 12:25:17 PM |
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Elliot waves and some candlestick patterns are useful for scalping. But recently when I did some scalp trades, I tried to use Bollinger bands, which is kinda useful too. I just watched it from Youtube before on how to use Bollinger bands, it is a newbie-friendly indicator that may help you to find a good trade entry.
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slaman29
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Livecasino, 20% cashback, no fuss payouts.
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March 18, 2021, 04:15:01 PM |
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You are on point with you analysis but for me personally I do more research around the project to see if there is something big happening soon. It proved for me to be better then only to focus on charts. As for leverage trading I do that at x10 and I always put a stop loss at -1.5% and take profits around 2% or more it depends of situation. For leverage I focus more on charts but usually coins track BTC so you can go by that if you don't want to go any deeper in it.
Stop loss at 15% of your bankroll? Very dangerous, if only for 2% of profits? I mean, with the kind of volatility we see that stop loss is SO easy to hit at 10x leverage. Big moves seldom effect the way we think too. See stimulus checks on weekend? then BTC went down. No news now and it's back up today. Swings and volatility with no reason or no immediate impact.
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palle11
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March 19, 2021, 12:02:50 PM |
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Elliot waves and some candlestick patterns are useful for scalping. But recently when I did some scalp trades, I tried to use Bollinger bands, which is kinda useful too. I just watched it from Youtube before on how to use Bollinger bands, it is a newbie-friendly indicator that may help you to find a good trade entry.
Yeah I know about candlestick being useful at times when you understand it. And Bollinger band too but I have not watched the practice on YouTube. You could send a link to that about bollinger if you still having it and the parameter setting .
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Mahmoud70 (OP)
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March 19, 2021, 01:23:50 PM Merited by Symmetrick (1) |
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Elliot waves and some candlestick patterns are useful for scalping. But recently when I did some scalp trades, I tried to use Bollinger bands, which is kinda useful too. I just watched it from Youtube before on how to use Bollinger bands, it is a newbie-friendly indicator that may help you to find a good trade entry.
Yeah I know about candlestick being useful at times when you understand it. And Bollinger band too but I have not watched the practice on YouTube. You could send a link to that about bollinger if you still having it and the parameter setting . IDK about you guys, but Bollinger band is laggy, and can't count on it alone, from my perspective i won't enter the market without elite waves theory which I recommend for every trader, mastring Elliot wave is a GREAT book to start about it Note; not easy, needs a lot of time, BUT WORTH IT
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dothebeats
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Cashback 15%
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March 19, 2021, 02:03:05 PM |
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I don't rely too heavily on technical indicators. I only ever use Elliott waves, daily trading volume, community interaction, and dev interaction with its community. The latter part is as important as the first tools, because even if the patterns are good and indicate some rises, without community engagement you cannot be sure that there will be someone that will buy those coins in the future, unless of course if the coin already has an established market of its own.
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btcsmlcmnr
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April 01, 2021, 03:52:41 AM |
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You are over-complicating scalping by using a bunch of half-useless tools in trading view. You should not build your strategy on these indicators, at one point they simply will not work as it should and you will lose money. Build a scalping strategy at levels. Levels are the most reliable indicator of entering trades on the chart.
Scalping is most effective, productive and profitable for bull trend. If you do scalping trades with a coin that has a temp mini bear time, you will get losses. Scalping or other trading methods, traders have to exit the market before the new cycle comes. If you are too slow and don't exit before the time, your temp profit from scalping will be stolen by Mr. Market. It is bad to blame that scalping method is bad because of your bad decision (don't exit). Support and resistance are enough for scalping in mini bull trend.
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goldade
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April 02, 2021, 05:53:41 PM |
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Scalping is actually quite hard since I can leave a trade open for days and sometimes I miss the take profit point. What I use for scalping is the Exponential Moving Averages. I use the last two moving averages and that is the 50 and 200 moving averages.
What I do is to open a trade at the point the 50 and 200 moving averages crossed, either by buying or selling depending on the direction of the market and wait for them to cross again to take profit. This works most of the time but sometimes the trade might be open for weeks and sometimes months.
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death69
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April 05, 2021, 08:16:35 PM |
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Price action is what I use mostly while scalping. The movement of candles gives me enough information to make my decision. Hammer, engulf candle combine with resistance/support and supply/demand zone make perfect trades. With the initial technical analysis, I believe I can make 2-4 trades with a pair in a day as long as I can be patient.
Damn, I am a scalp addict. I used to make more than 15 orders a day, and it really made me sick. Patience is what I lack of, and it has caused me to lose a lot of money. I can't stand watching those candles forming and running. Thus, I try to draw my analysis on any pair I can't in order to find a good trade, even after I have a losing trade. Scalpers are the most profitable traders but also lose the most. Just try not to become selfishly greedy
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stomachgrowls
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April 05, 2021, 08:54:30 PM |
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My own ways to scalp.
Indicators used: -Bollinger bands -Moving averages -RSI
Ive been using it when dealing with price action and i do look for some biases towards between shorter and longer timeframes and if i do find out some trend or possible reversals then thats the time i do get in.
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yhiaali3
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April 06, 2021, 01:07:25 AM |
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In fact, I find it difficult to do all of the things that I mentioned on a daily basis to do scalping trades. You can follow these steps to make long-term investment deals, but doing scalping will be very stressful for me. For me, I monitor the area in which the currency moves up and down, then I set a certain point to buy and another to sell and that's it. I do this once or twice and then go back to watching the currency for some time.
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