Trendman scalping system @ Forex Factory

trendman · #1 Oct 7, 2009 1:58pm

Hi Everyone

Yet another scalping system ,I'm not going to waste anyones time with saying "I'm doing soooo good with this system"

so here are the rules and chart setup

Trade only on 1 mi chart;

1 min chart setup ,please see attach tpl

Also please see 5 min chart tpl attached

On 1 min chart if 10ema crosses over upward or downwards 30 ema high-low
you go short or long
You need to follow on 1 min chart macd and THV TRIX also on 5 min chart follow macd and moving avareges.
This system is only for scalping not for long term trades

additional rules:

going short or long on 1 min chart:

The best format to go short or long is:On 1 min chart if macd turns positove or negative wait for pull back for PA to 30 ema (high or low) and at the same time watch 5 min TRIX,if 5 min TRIX about to cross (down or up) you take your positon.I have attached 2-3 charts showing that have a look at them.

SHORT TERM TREND CHANGES(long or short)
During down trend if 62 goes above 57 ,there will be a trend change or PA is going into a ranging position
During up trend if 62 goes below 57 sma ,there will be a trend change or PA is going into a ranging position.

You got to use both two 1 min chart to take your trade position.For 30 ema chart the rules are the same ,the second 1 min chart with 20,62 and 57 sma is for to identify the trend.

TREND CHANGES FOR LONG TERM:
IF ON 5 MIN CHART 62 EMA GOES BELOW OR ABOVE 57 SMA THAT MEANS TREND MIGHT BE SLOWING OR WILL CHANGE DIRECTION.
IF THAT HAPPENS THAN LOOK 20 EMA ACTION IF 20 EMA CROSS OVER OR ABOVE 1ST 57 SMA THAN LOOK FOR GOOD ENTRY POINTS,AGAIN EITHER SHORT OR LONG.THIS IS VERY IMPORTANT, FOR TREND CHANGES 20 EMA MUST CROSS OVER OR ABOVE 1ST 57 SMA,IN SOME CASES IF 20 EMA CROSSOVER 62 EMA THAT MEANS THE TREND WILL BE SHORT LIVED.

ADDITIONAL INDICATOR:
OPEN ANOTHER 5 MIN CHART ,ADD OBV INDICATOR,ON OBV INDICATOR ADD RSI ,MAKE RSI LINE COLOURLES BUT ADD LEVELS 30,50 AND 70 , KEEP OBV ALWAYS IN BIGGER SCALE (SO THE CHART WON'T BE NEEDED) WE NEED TO HAVE OBV IN BIGGER SCALE SO THAT TREND DIRECTION CAN BE FOLLOWED,IF PRICE GOES UP OR DOWN, OBV MUST FOLLOW THE PA ,OTHERWISE FALSE PRICE ACTION.

UPDATE:

ADD SMC4 SCALPER ON YOUR 5 MIN CHART, NOW THIS SIGNAL ALSO WORKS LIKE, IF YOU SEE ON 1 MIN CHART MACD TURNS POSITIVE OR NEGATIVE LOOK AT YOUR 5 MIN CHART AND IF YOU SEE SMC4 SCALPER ARROWS DOWN OR UP ,LOOK AGAING FOR TRADING OPTIONS, ALWAYS STICK WITH BASIC RULES,THIS INDICATOR WORKS FINE SO FAR WITH THE SYSTEM, LET ME KNOW YOUR THOUGHTS, ALWAYS FOLLOW MACD,ALWAYS, NOT THE ARROWS, OKAY!!!!

FOR MORE INFO ,PLEASE VISIT MY WEBSITE

jimbnc · #2 Oct 7, 2009 2:03pm

Can you Please post an image and what you have explained. I'm very interested in this scalping technique. Thanks for your contribution...

ab1 · #3 Oct 7, 2009 2:04pm

Wow man some people are so touchy...that guy from the other thread....lol

trendman · #4 Oct 7, 2009 2:07pm

Quote:

Originally Posted by ab1

Wow man some people are so touchy...that guy from the other thread....lol

I'm very touchy man..))

I have a big respect for COBRA .

trendman · #5 Oct 7, 2009 2:13pm

Quote:

Originally Posted by jimbnc

Can you Please post an image and what you have explained. I'm very interested in this scalping technique. Thanks for your contribution...

One of the most importat rule is as soon as the 10 cuts through both 30emas
I always wait for a pull back , this way I confirm the down or upwadr trend

Also always follow 5 min chart macd and ma, these are very important,if there is a divergence between 1 min and 5 min chart such as on 1 min macd is negative but 5 min macd is positive ,my advise stay away.

Give yourself a couple of days for confidence ,it's pretty good system.

SORRY I FORGOT, MACD SETUP IS 20,62,57, APPLY THIS ON BOTH 1 MIN AND 5 MIN

ab1 · #6 Oct 7, 2009 2:15pm

Quote:

Originally Posted by trendman

I'm very touchy man..))

I have a big respect for COBRA .

Yeah so do I he's helped me a lot with forex questions, but that wasnt COBRA.

But ok lets talk about your system...... it looks very good.

trendman · #7 Oct 7, 2009 2:19pm

Quote:

Originally Posted by ab1

Yeah so do I he's helped me a lot with forex questions, but that wasnt COBRA.

But ok lets talk about your system...... it looks very good.

Thanks,mate

I hope it'll help you make more pips than a loss.

trendman · #8 Oct 7, 2009 2:38pm

now watch 1 min chart eur/usd

it's up but macd 5 min bars are very weak for me it's a risky trade to take

ab1 · #9 Oct 7, 2009 2:39pm

Quote:

Originally Posted by trendman

Thanks,mate

I hope it'll help you make more pips than a loss.

Im very excited about your system because when I 1st started in forex, I followed MA systems, but sort of got lost along the way a bit with the bombardment of every system on planet earth.

So this looks just what I need...its simple and we only need to concentrate on one pair to start with. If I can make 50 to 100 pips a day that will be awesome.

Thanks for oppertunity to try it

ab1 · #10 Oct 7, 2009 2:45pm

Quote:

Originally Posted by trendman

now watch 1 min chart eur/usd

it's up but macd 5 min bars are very weak for me it's a risky trade to take

I took this one but now can see also the 57 is below 62, I hope this turns in my favour , the trix is going the right way on M5, the M5 macd is weks but its up.

How high do you like to see it....what twice what it is now ?

trendman · #11 Oct 7, 2009 3:08pm

Quote:

Originally Posted by ab1

I took this one but now can see also the 57 is below 62, I hope this turns in my favour , the trix is going the right way on M5, the M5 macd is weks but its up.

How high do you like to see it....what twice what it is now ?

I'm awaiting for short signal here

trendman · #12 Oct 7, 2009 3:11pm

I'm off guys

goldsurfer · #13 Oct 7, 2009 3:42pm

Very interesting, I have a similar chart, I use the Sonic 34 channel, an 8 lwma for the cross, and the t@h THV coral. Other indys are the BW Awesome Oscillator and a CCI. I also watch a Daryl Guppy(rainbow, MA's) 5m, 15m, and 30m to see the trend. I added a 200 ema and the fractals to check out after coming across your thread. Will keep an eye on this

cheers

jgadefelth · #14 Oct 7, 2009 4:53pm

trendman can you tell us something about the result how long have you been trading this and how high hit rate and also on average how many pips a week ?

best regards

trendman · #15 Oct 7, 2009 5:06pm

Quote:

Originally Posted by jgadefelth

trendman can you tell us something about the result how long have you been trading this and how high hit rate and also on average how many pips a week ?

best regards

My Friend

I'm scalper ,approaching my 7th year trading.This is my job and looks after my family.
Daily I get 50 pips,that is my target ,that is it.As soon as I reach that I leave my trading desk.
This is the only system I've been using last 2-3 years,I have tried everything like you guys but all the systems are so complicated and there is no constant success,whoever says I make this and that don't believe .
Trade with discipline.
I won't say anything about this system to persuade you how good it's ,just try and master it.
I hope you'll like it.