[Definitive Edition] The Lifeline of Scalping: Tick Charts
Thank you for your hard work! This is Tomizaki from the Trading Office.
We have started recruitment here at Gogojan
Using tick charts for “Ultra-Short-Term Trading Skills”
● “1-Minute Chart Scalping Club”
Regarding
■□ “1-Minute Chart Scalping Club”
■□https://www.gogojungle.co.jp/tools/ebooks/54826
What is the most important thing to win at scalping?
This is, of course, my own opinion, but it is about grasping the “habit of price movement.”
The “habit of price movement” is like a kind of rule such as, “If the price moves like this, it inevitably moves next in that way.”
Short-term, decisive scalping is, unlike other day trading or swing trading, a particularly specialized trading method.
You can probably discard general knowledge of technical analysis like “how the trend line looks,” “how technical indicators look,” or “how higher timeframes look.”
● Look for the habit of price movement
● Look for a back door rather than the orthodox (general technical analysis)
I believe this way of thinking is important in scalping.
So, why do I use tick charts?
Because compared to ordinary charts, the “habit of price movement” is more prominently displayed on the chart.
It's a very simple reason.
Tick charts are, I think, the lifeline for me and probably for many scalpers who achieve results.
I believe you will understand if you also use tick charts.
You can see special waveforms that cannot be seen on a normal 1-minute chart.
Also... this may be a bit off topic, but have you ever watched YouTube streams by scalping traders?
I’m not sure if they are still streaming, but in the past I watched live streams of a few people who probably really knew what they were doing.
All of them showed the usual 1-minute chart on their screens.
I think that chart was the one on the broker they were actually placing orders with, but while watching, a few of them seemed to be using tick charts on another monitor for entry timing.
Perhaps they wanted to keep it a secret that they were using tick charts.
In the scalping trading style, the benefits of tick charts are large, and I can understand wanting to keep it quiet!
Getting a bit off topic again, but finally, I’d like you to watch the recent trades from the aforementioned “Ultra-Short-Term Trading Skill” and wrap up this discussion.
On this day, despite making some tight stop-outs, I was able to extend positions where appropriate, and the overall trades were reasonably well-handled, so I’d like you to take a look.
All charts are in USD/JPY.
Now then, the profit and loss for this day was about +560,000 yen.
Of course, I’m not just showing the winning parts; I’m showing the entire sequence of trades.
However, profits themselves come as a natural result, and what I want to emphasize here is the ability to exit trades—both taking profits and cutting losses—without discretionary judgment.
I have quite a strict set of rules.
By sticking to the rules, even while placing many tight stops, I could extend positions where needed, which is the result of following the rules.
If you are interested in this “Ultra-Short-Term Trading Skill,” I will confidently guide you into the world of 1-minute scalping.
■□https://www.gogojungle.co.jp/tools/ebooks/54826
Also, almost every day on “Investment Navi+,” I update points for USD/JPY scalping. (If I am not in the market, there may be no updates…)
These updates can provide hints on what points I target and what trades I initiate. Please take a look as well.
■□ Investment Navi+: USD/JPY Scalping Section - FX Scalping Institute
With that, I will take my leave.
━━━━━━━━━━━━━━━━━━━━━━━━━
■□ Trading Office - Profile Page
■□https://www.gogojungle.co.jp/users/111390