Scalping strategy: finding the exact entry point - page 3
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In my opinion, these "tools" are all nonsense. They can be dealt with quite successfully.
The main "tool to fight a successful scalper" is a direct refusal of payment. More than once I have read that brokerage companies refuse to pay the trader because of reasons like "the deposit is growing too fast".
It is possible to fight spread widening, hairpin and quote errors. But how do you deal with "your funds are blocked and will not be returned to you"?
For scalping, channels and trend lines constructed over a short period of time are most commonly used.
In my opinion, these "tools" are all nonsense. They can be dealt with quite successfully.
Don't make a naïve face...
How can you fight an organisation with such a set of advantages...?
Don't make a naive face...
How can you fight an organisation with such a set of advantages...?
In my opinion, this means that the methodology is incorrectly described. Let's say I build trendlines so that anyone following it will draw trendlines exactly the same way I do.
After all, you are contradicting yourself. First you're talking about the precision of the input, and then it turns out to be "as many people, as many eyes" - what kind of "precision" is that?
It seems to me that the most important component of accuracy is independence from subjective factors. And the first direction in the formation of TS is in the formalization of trading techniques.
I absolutely agree with you. There may be variations in drawing the lines. According to my method I wait for 1-2-3 on M1 and start drawing inclined channel lines only after breakout of a local top or a low. Of course, there is nothing intricate here. But, practice shows that other people see 1-2-3 waves on M1 differently than I do. A paradox, of course. But it's something you can come to terms with.
The problem is finding the right approach.
I say that the exact entry point is on a break of support or resistance lines near horizontal levels.
My colleague stated the idea that the exact entry point should be found after the breakout and fixation of the price above or below the level and not bothering with skewed lines.
Another colleague said that the tick chart is the key.
So, the discussion is on, thank God practicing traders are here.
You can always walk away from it.
The entry point for a Scalper is an enticement for BEGINNING traders. And the point here is not that it is not possible to define this point competently, but that the DC has a huge list of tools to deal with a successful Scalper - these are:
spread widening
studs
left quotes
delays in orders to open and close
internet network glitches
etc. etc.
This, alas, is not a solution to the underlying problem as ANY DC has these kinds of tools and therefore could well take advantage of them.
You use MACD for scalping. Why don't you use divergences?
I use divergences too, but I wrote that it is not relevant to the topic of finding an exact entry point.
Divergence, to me, is just one of the confirmations for entry.
So, the discussion is going on, thank God practicing traders are here.