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EUR/USD Scalp 1 min

Quoting hoss
My RSI is set to (8) with 80 and 20. Yes, you will lose your butt with this system if you get caught in this situation. .

Hi Hoss;
A pleasure. Are you in a mini acct and how many lots are you trading?
I was doing somehting similar but writing numbers every three minuytes to get trend, highs, lows and then jumoing in to grap 10 pips
  • hoss
    Joined Jun 2006
Quoting currencyexch
Hi Hoss;
A pleasure. Are you in a mini acct and how many lots are you trading?
I was doing somehting similar but writing numbers every three minuytes to get trend, highs, lows and then jumoing in to grap 10 pips
Good stuff, man. I am trading with half lots right now.
  • hoss
    Joined Jun 2006
Check out the chart. These are gorgeous trades and make money just about everytime. Now, you could have traded the OS/OB's, but back to what I was talking about earlier - we have three pushes up on the USD/CHF, and divergence. I was in and out for a quick 5 on this one. I blast these ones everytime they show up. This is the 1 minute chart.
Attached Image (click to enlarge)
Click to Enlarge Name: chf.jpg Size: 63 KB
Hey Hoss, what RSI are you using, appears different then the stock mt4 RSI ?


Regards,
Cigarguy
  • hoss
    Joined Jun 2006
Quoting cigarguy
Hey Hoss, what RSI are you using, appears different then the stock mt4 RSI ?


Regards,
Cigarguy
it's stock rsi on mt4 along with stock rsi on oanda. i have both open at all times.
Thanks for your reply. I hope i will keep listening from you as I would like to benefit from your thoughts, ideas and experience.
I will will keep posting my chart of trades that i take.
Hopefully i will get your feedback over them.
Thanks :-)
Hello Hoss,have you tried this on other pairs,say the eur/gbp.for each $1 invested it is $1.76 return !!!
Hi Hoss, do a similar thing myself sometimes but too many times key levels would be overshot, take today for instance on eur/usd several instances where levels are overshot by a significant number of pips Id be interested to know how you cope with this. i use a tight sl and if overshot would jump back in again on next candle or so and double on the amount per pip to get back even.I also keep an eye on stoch 5,3,3 aswell . How exactly do you enter do you estimate where the candle will stop so to speak , and what do use as sl cheers, Francis
  • hoss
    Joined Jun 2006
Quoting francis2
Hi Hoss, do a similar thing myself sometimes but too many times key levels would be overshot, take today for instance on eur/usd several instances where levels are overshot by a significant number of pips Id be interested to know how you cope with this. i use a tight sl and if overshot would jump back in again on next candle or so and double on the amount per pip to get back even.I also keep an eye on stoch 5,3,3 aswell . How exactly do you enter do you estimate where the candle will stop so to speak , and what do use as sl cheers, Francis
hi francis,

let me see if i can explain a little better. yes, there are times when the price will blow through these levels. so, to avoid this here is what i do. you'll notice sometimes that price will flutter around within a tight range or is channeling so to speak. i never enter on the first ob/os after price has been resting. price is more likely to move violently after this. i wait for the second or third push into ob/os, or look for divergence. with the eur/usd, for instance, price may have moved 50-100 pips over this move. that is what i am looking for. not sure what the daily range is for eur right now but what i know is that within a certain standard deviation, once price has moved this much and goes into ob/os in later stages, my chances for a successful trade are improved tremendously. so even if i have to average in, i don't normally get caught in the situation you are describing because i have allowed most of it to pass and price momentum is not strong at this point. it takes a little patience to watch that price move without hopping in, but i tell you, these trades i am describing are beautiful when they happen. on the one minute chart they happen all day long, especially if you are watching four pairs or so. let me know if that makes sense.
Yeah, gotcha, makes sense Ill keep an eye out in future , thanks
Quoting toonsmania
Hi i have attached the screen shot.
Any idea hoss how to avoid such trades.
Trades like these have burned me and taken away profits.
Thanks
Hi, I noticed in your chart there is a template showing 0:33 seconds remaining to finish candle. Can you send me that template.

Thanks
To achieve success, we must dream as well as act.....
  • hoss
    Joined Jun 2006
Quoting monikroc
Hello Hoss,have you tried this on other pairs,say the eur/gbp.for each $1 invested it is $1.76 return !!!
I suppose you could use that pair, but I know it is a slow mover and I'm just not used to that pair. I don't recommend trading more than 2 pairs at a time with this method.
  • hoss
    Joined Jun 2006
Destruction. Nailed this one twice on the 2nd and 3rd push. Look at the divergence.
Attached Image (click to enlarge)
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Hoss,

Nice work! I have been practicing your method a bit with resonable success.
Wondering though, How do you draw your S&R lines, good old fashioned eyeball or do you have something that draws them automaticly?

Thanks,
RR
Quoting Richrob
Hoss,

Nice work! I have been practicing your method a bit with resonable success.
Wondering though, How do you draw your S&R lines, good old fashioned eyeball or do you have something that draws them automaticly?

Thanks,
RR
Hi i believe that your resonable success will escalate to good one. We just need to practice and refine our trades.
Btw the s&r hoss is talking about must be pivot levels. Correct me if i am wrong hoss.
Oh btw i have left 5 star rated threads and came here because this is something that appeals to me.
Thanks
  • Post# 56
  • Quote
  • Apr 8, 2009 11:42pm | Edited Apr 9, 2009 12:00am
  • hoss
    Joined Jun 2006
Quoting toonsmania
Hi i believe that your resonable success will escalate to good one. We just need to practice and refine our trades.
Btw the s&r hoss is talking about must be pivot levels. Correct me if i am wrong hoss.
Oh btw i have left 5 star rated threads and came here because this is something that appeals to me.
Thanks
Hi guys,

I use the autopivot indicator and the murrey math indicator. I see strong levels of support and resistance when these levels overlap each other. You'll get great retracements at these levels when price hits them with speed and force. Sometimes when price moves slow, it will just trickle over these levels and keep on moving, though, so be careful during slow sessions. You'll see it over time. Just keep practicing it. You will "see" trades that are complete no-brainers after a while. You could make a fortune just waiting on these ones. My favorite is divergence after a three wave push in one direction while hitting these pivot levels. These are gold.
Quoting hoss
I use the autopivot indicator and the murrey math indicator. I see strong levels of support and resistance when these levels overlap each other........
.............These are gold.
I assume these are MT4 indicators, can these be shared here on this forum?
non si dimentichi mai
  • hoss
    Joined Jun 2006
Quoting plus50
I assume these are MT4 indicators, can these be shared here on this forum?
Here it is the autopivot. I can't seem to pull the murrey off my computer for some weird reason. But if you google Murrey_Math_Line_X_eng you should find it.
Attached File
File Type: mq4 ###Auto Pivot.mq4   15 KB | 986 downloads
Thank you hoss, much appreciated.

For anyone looking for an MM indicator, it can be found here :
http://www.forexfactory.com/showthread.php?t=159471
non si dimentichi mai
Thanks Hoss!

For any interested here is a template I made with settings as suggested by Hoss. I added the THV RSI v2 with "worms" as well as the piviots hoss provided and a Murrey indy I found on the web.

Hoss. let me know if you have any suggestions to improve the tpl.

RR
Attached File
File Type: tpl hoss.tpl   12 KB | 1,241 download
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