Price Action Scalping- trading diary

primitivetrader

Well-Known Member
#1
hi all,
this is my trading diary focused only on price action scalping bnf. i am full time trader. i prefer to trade 75 tick or 2 min or 3 min time frame. my fav is 75 tick chart (which is not tick but as snapshot etc, but i am happy using it). will share whatever little i know about scalping bnf, how i approach it and what is a scalper mindset, which i try to be in. most imp purpose of this thread is to have a one place to write down everything.
 

goldenedge

Well-Known Member
#2
what are the markets? Risk reward ratio? Basic idea of strategy etc..
 

haruns

Animal Spirits !
#3
yes i want to learn what is a scalper mindset...

if a person doing 2 to 5 trades in a particular scrip can call it scalping?
 

primitivetrader

Well-Known Member
#4
time 19:16
date- 24-10-18
filter


filtering trade is an imp thing in scalping. as a scalper i am operating on a very small time frame, there will be too many non readable price actions and land (loss) mines on chart. as a scalper i have to navigate with utmost caution so as not to put my trades at wrong place on a probability basis. losses are bound to happen. there is no escape from loss. but the lesser they are more profitable i am. i am bound to loose many good trade set ups but its the cost i am ready to bear if it saves me even from one land mine.
one way of filtering trades or price action is by using moving average. i use 18 ema mostly, any sma/ema will do if we know the principle.
i dont short when multiple candles close above ema (how many is a discretionary things, as sometimes even one bar can do the trick and sometimes it may be 10-15). i dont go long when multiple candles close below ema (may be 1 may be 15). i know most of the time that price will go up/down and hit the target, even if they are not fulfilling this filter. but i dont know when they will not go as i expected it to go. and that is the precise time i am beaten by somebody else due to not following the filter and make fool of myself. so its better for me to be safe than to be sorry.
below is today's bnf 75 tick chart. i have circled all the places as per filter. all went to the targets. but follow the filter and focus on reading price action.
 

primitivetrader

Well-Known Member
#5
21:07
24-10-18
nuggets


these are the lines,paragraphs i have studied, read, feel or listen and find useful for self.

one of the greatest lessons you will ever learn is how to recognize the trade that has your name written over it. you cant let impatience or greed tempt you to take trades that do not set up exactly in accordance with your trading plan. there is lots of slope in the market. stay away from anything and everything that does not adhere to your specific considerations.
 

sanju005ind

Investor, Option Writer
#6
You have not helped me with the request I posted in another thread. I wish to learn your primitive methods.
 

primitivetrader

Well-Known Member
#7
You have not helped me with the request I posted in another thread. I wish to learn your primitive methods.
There are multiple ways. But none of it give you very early signals of such big trading range. It's visually I have found today's trading range. Our eyes are best indicator we have in trading.
If you can understand that impulse is a nonoverlapping price action swings than trading range/correction is an over lapping price action swings. Check the chart again you will find non overlapping pa swings in trading range.
Hope it helps.
 

checkmate7

Well-Known Member
#8
time 19:16
date- 24-10-18
filter


filtering trade is an imp thing in scalping. as a scalper i am operating on a very small time frame, there will be too many non readable price actions and land (loss) mines on chart. as a scalper i have to navigate with utmost caution so as not to put my trades at wrong place on a probability basis. losses are bound to happen. there is no escape from loss. but the lesser they are more profitable i am. i am bound to loose many good trade set ups but its the cost i am ready to bear if it saves me even from one land mine.
one way of filtering trades or price action is by using moving average. i use 18 ema mostly, any sma/ema will do if we know the principle.
i dont short when multiple candles close above ema (how many is a discretionary things, as sometimes even one bar can do the trick and sometimes it may be 10-15). i dont go long when multiple candles close below ema (may be 1 may be 15). i know most of the time that price will go up/down and hit the target, even if they are not fulfilling this filter. but i dont know when they will not go as i expected it to go. and that is the precise time i am beaten by somebody else due to not following the filter and make fool of myself. so its better for me to be safe than to be sorry.
below is today's bnf 75 tick chart. i have circled all the places as per filter. all went to the targets. but follow the filter and focus on reading price action.
In the picture above can you explain the logic behind all the marking and the entry point??
 

checkmate7

Well-Known Member
#10
They are not the entry points rather than places where I try not to get into trade as per the filter. Logic for the same I have explained in the post.
Hope it helps.
Ok that's what I was thinking but short and long marking made the confusion...
 

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