Setups

My current setups are based on Al Brooks. The trader, not the actor.

So the first thing I look for is markets that are good for trading. That is to avoid trading ranges.

 

Setup 1

H1/L1during a spike

Setup 2

H2/L2

That is about it.

These are no longer my current setups

They are similar to what I still do, but not really the same. I guess I really need to document what I am doing now.

GeeBee
A quick little fade, usually for two or three ticks. Most trades under five minutes. This is currently my main setup. I wait for a breakout to fail and take the trade going back the other  way.

GeeBee + MadTrend
A  fade, mainly on pullbacks. Tries to fade ONLY in the direction of MadTrend. Fewer trades, but much longer runs.

Lunchbox

This the setup I am currently researching and sim trading. It looks for traders to run stops over lunch when volume is light.

I identify when the stops should be in the correct position to run stops, then I place limit orders to go along for a little bit of the ride.


My Orders

All my entries are limit orders and most exits are limit orders also. Every once and a while, I will bail out of a position with a market order.

4 thoughts on “Setups

  1. Hey Mad Scalper,
    Stumbled onto your blog yesterday. Will you be posting screen shots of your trades? I have been fine-tuning my scalping of the ES over the past couple months and have been working on the 500T chart. I stick the first 60-90 minutes and usually call it a day…win or lose. For the most part my stop loss is 6 ticks with a 6 tick profit target. All price action.
    I have you bookmarked so I’ll stop by now and then to see how its going and maybe share some “war stories”.
    Good trading.

    1. Thanks for the comment.

      I am also doing price action. Well, price and volume anyway. I will try to start posting screen shots of my trades this week.

      Have you used range bars before ? I am thinking about taking a look at those.

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