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-   -   Idiot's Guide to Scalping (http://www.forexfactory.com/showthread.php?t=408796)

unimak Feb 6, 2013 2:47am | Post# 1

2 Attachment(s)
Hi

For all those people who want to trade/scalp forex but want a simple system to use and mint 5 - 10 pips , this guide will help them do just that

all u need is a 5/21 ema cross indicator and the 10.2 TMA SLope indicator.

Entry :- Take entry 1 pip above the high of the 5/21 ema cross indicator in case of a buy provided the TMA agrees .

can it be any simpler than this.

Preferred pair is EJ

Time Period is 1 M
10.2 TMA slope v.1.4B 4.30.mq4
EMA Crossover Signal.mq4

unimak Feb 6, 2013 2:52am | Post# 2

1 Attachment(s)
Only avoid news time .
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adeforex Feb 6, 2013 3:33am | Post# 3

thanks for sharing. 1 pip above the high ,as you said may be difficult to target because of 1 min chart re-quotes and slippage. but i am a fan of ej on 5 mins. i will try your system also. and what is your sl?
Besides what broker do you use because you will need low spread which is very difficult to get on ej on some brokers now a day. I do use hotforex, because that is low spread broker on ej with around 2 pips or less i can see best, for now. please share.

rebelheart Feb 6, 2013 3:35am | Post# 4

thanks for posting.... looks promising this morning..

joancb Feb 6, 2013 3:35am | Post# 5

Hi,
thanks (for calling me idiot
what SL do you use?

mo3ty2002 Feb 6, 2013 3:39am | Post# 6

ind >>>> 10.2 TMA slope v.1.4B 4.30

reapaint

Info Seeker Feb 6, 2013 3:48am | Post# 7

Hi unimak,

Thank you for sharing, but I do agree with mo3ty2002 that TMA slope indicator is notorious for repainting. How do you deal with that?

iwan73 Feb 6, 2013 3:49am | Post# 8

You have to bear in mind that TMA is badly repainter indicator.

BellaVista Feb 6, 2013 4:03am | Post# 9

You have to bear in mind that TMA is badly repainter indicator.
The question is this. Does it repaint with an open candle? Or does it repaint once a candle is closed? If your using a 1m time frame, then once the candle closes, and you have a signal. If 2 mins later the signal you had 2 mins prior disappears from your chart. Then the indicator is no good. Could someone please confirm.

Info Seeker Feb 6, 2013 4:08am | Post# 10

Bella, my experience with it is the second part of what you mentioned. Repaint after the close, which is why I want to know how unimak deals with that.

iwan73 Feb 6, 2013 4:09am | Post# 11

Changing colour of current candle is not repaiting. Canging colours of closed candles is repainting. TMA is repaintng.

BellaVista Feb 6, 2013 4:10am | Post# 12

I'm running his script right now. It doesn't repaint. Yet what you have to watch out for is accumulation. This system identifies accumulation when the bars are a pink and light blue color. You must ignore the signal given at that point. If you enter during that color phase, your stop loss will get hit often.

BellaVista Feb 6, 2013 4:12am | Post# 13

Changing colour of current candle is not repaiting. Canging colours of closed candles is repainting. TMA is repaintng.
I'm running it right now, and it has yet to repaint. I'm actually recording the screen. So I can easily backtest it to prove if what is said here is true. Until then lets ASSUME it doesn't

Info Seeker Feb 6, 2013 4:16am | Post# 14

Bella, please elaborate. My experience with it is I get a signal for, say a buy (confirmed by color and the side adviser), but a while later after the close of the candle (and thereafter many candles) that buy signal becomes a sell or neutral.
Please explain the accumulation part as you have me at a loss. With thanks.

BellaVista Feb 6, 2013 4:18am | Post# 15

Bella, please elaborate. My experience with it is I get a signal for, say a buy (confirmed by color and the side adviser), but a while later after the close of the candle (and thereafter many candles) that buy signal becomes a sell or neutral.
Please explain the accumulation part as you have me at a loss. With thanks.
Accumulation is when the price has fallen into a range. Also known as sideways trading. We are currently in a range, which is why over the last 20 mins we have gotten 4 signals.

Opemipo Feb 6, 2013 4:24am | Post# 16

Thanks for d system. It is like your system has no stop loss.

Info Seeker Feb 6, 2013 4:24am | Post# 17

Bella, thanks for your prompt reply. I do understand accumulation as in a ranging market. My question was how it relates to the repainting of the TMA indicator.
Also I just noticed that unimak posted the 10.2 TMA slope v.1.4B 4.30 which I assume you're testing right now and which I have no experience with. My experience relates to the 10.2 TMA slope _ Norm that was used in his chart. So we may after all be talking about two different indicators.

BellaVista Feb 6, 2013 4:28am | Post# 18

Bella, thanks for your prompt reply. I do understand accumulation as in a ranging market. My question was how it relates to the repainting of the TMA indicator.
Also I just noticed that unimak posted the 10.2 TMA slope v.1.4B 4.30 which I assume you're testing right now and which I have no experience with. My experience relates to the 10.2 TMA slope _ Norm that was used in his chart. So we may after all be talking about two different indicators.
Well that appears to be correct (that we are speaking of two different indicators). Clearly people jumped on the chance to claim that this indicator would repaint. Without testing it themselves. Yet this indicator does not repaint at all. I was simply saying that you can identify accumulation by the pink and light blue color you see on the slope_norm indicator.

BellaVista Feb 6, 2013 4:30am | Post# 19

The tma slope indicator does actually repaint, but the indicator which gives you the arrows doesn't. As the indicators with the arrows is what should be used anyway for the entry.

Info Seeker Feb 6, 2013 4:38am | Post# 20

Yes, acknowledged. I will be testing the indicator he posted as I know the one in the chart is a repainter. I hope these last few posts would encourage people to actually delve into his system with the posted indicators and not use the one shown in the chart he posted should they already have it like I did. Thanks again and I will definitely give this a test and report in due time.


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