There is no other way of starting this thread but with thanking TKimble for his refreshing ideas and systems. I feel everyone on this forum owes him a lot.
The Daily Scalping thread is here: http://forexfactory.com/showthread.php?t=13507
I'm currently using strawstock's Rhythm EA simply because it allows you to enter a direction if you need to. The EA is here: http://forexfactory.com/showpost.php...3&postcount=10
I may be changing to skyline's EA in the future. Many thanks to both guys!
I will use this thread to post trades and ideas on my hedging version of Daily Scalping. Feel free to do the same.
Here is my core system:
I enter a hedged position immediately (instead of a single buy or sell of the original system) and I wait for a break-out. While in range I take 0 losses (not exactly cause I loose the spread). My risk is when a new range develops (false break-out) about 50 pips above the entry price. But this should be only 1 day as the next day the orders are set within the new range. If this proves to be true I plan to increase the lots as soon as a new range develops, hoping for a true break-out.
I follow the original system for entry so if it says sell, my primary order is a sell with a SL of 50 (stop and reverse) and no TP. My secondary order (the hedge) would be a buy with a TP and SL of 50. When a secondary order gets stopped out I enter a stop/limit order immediately. So I do not limit trades at the moment.
I will be exiting at 15:00 EST and re-entering at 16:00 EST just because it suits me. This may change in the future.
I just started a 5K demo to test things out so I entered late today.
The Daily Scalping thread is here: http://forexfactory.com/showthread.php?t=13507
I'm currently using strawstock's Rhythm EA simply because it allows you to enter a direction if you need to. The EA is here: http://forexfactory.com/showpost.php...3&postcount=10
I may be changing to skyline's EA in the future. Many thanks to both guys!
I will use this thread to post trades and ideas on my hedging version of Daily Scalping. Feel free to do the same.
Here is my core system:
I enter a hedged position immediately (instead of a single buy or sell of the original system) and I wait for a break-out. While in range I take 0 losses (not exactly cause I loose the spread). My risk is when a new range develops (false break-out) about 50 pips above the entry price. But this should be only 1 day as the next day the orders are set within the new range. If this proves to be true I plan to increase the lots as soon as a new range develops, hoping for a true break-out.
I follow the original system for entry so if it says sell, my primary order is a sell with a SL of 50 (stop and reverse) and no TP. My secondary order (the hedge) would be a buy with a TP and SL of 50. When a secondary order gets stopped out I enter a stop/limit order immediately. So I do not limit trades at the moment.
I will be exiting at 15:00 EST and re-entering at 16:00 EST just because it suits me. This may change in the future.
I just started a 5K demo to test things out so I entered late today.