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Simple scalping system, all red or all green

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  • Post #1
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  • First Post: Edited 6:09am Jan 11, 2010 4:05am | Edited 6:09am
  •  Brb-Fraudin
  • | Joined Jan 2009 | Status: 10K a day. | 502 Posts
Look at the last candle of M5,M15,M30 and H1
If all green ,buy.
If all red ,sell.

The system works on many trades and good money managment.
Statistically, if you look at any chart ,there are more consequential candles than candles of opposite colors.
Try it demo.
  • Post #2
  • Quote
  • Jan 11, 2010 4:19am Jan 11, 2010 4:19am
  •  Dezil
  • | Joined Mar 2008 | Status: Member | 418 Posts
Quoting Brb-Fraudin
Disliked
good money managment.
Ignored
What are TP/SL or any rules for exit?
 
 
  • Post #3
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  • Jan 11, 2010 4:23am Jan 11, 2010 4:23am
  •  Brb-Fraudin
  • | Joined Jan 2009 | Status: 10K a day. | 502 Posts
Quoting Dezil
Disliked
What are TP/SL or any rules for exit?
Ignored
Since its a scalping system ,you should watch the movements and decide.

I mostly close manually at +15+20 pips,sometimes less. S/L should be -15 pips

Right now I have 2 trades with +10 pips each. I may close them and do it again on another pair.
 
 
  • Post #4
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  • Jan 11, 2010 4:30am Jan 11, 2010 4:30am
  •  Misiacyk
  • | Joined Aug 2008 | Status: Member | 24 Posts
Last closed or active candle?
If active at the beginning of an Hour for 5 min they will always be the same colour...
 
 
  • Post #5
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  • Jan 11, 2010 4:30am Jan 11, 2010 4:30am
  •  Knez
  • | Joined Jul 2009 | Status: Member | 186 Posts
when do you buy? when 5min candle close green and all other still green, or ....?




Quoting Brb-Fraudin
Disliked
Look at the last candle of M5,M15,M30 and H1
If all green ,buy.
If all red ,sell.

The system works on many trades and good money managment.
Statistically, if you look at any chart ,there are more consequential candles than candles of opposite colors.
Try it demo.
Ignored
 
 
  • Post #6
  • Quote
  • Jan 11, 2010 4:33am Jan 11, 2010 4:33am
  •  Brb-Fraudin
  • | Joined Jan 2009 | Status: 10K a day. | 502 Posts
The last active candle for all.
 
 
  • Post #7
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  • Jan 11, 2010 7:04am Jan 11, 2010 7:04am
  •  zebulon
  • | Joined Dec 2008 | Status: Member | 532 Posts
interesting and original !
 
 
  • Post #8
  • Quote
  • Jan 11, 2010 7:24am Jan 11, 2010 7:24am
  •  Intensity
  • | Joined Oct 2009 | Status: Member | 534 Posts
Very interesting approach ! Are you really making 10K a day or is that your goal ?
 
 
  • Post #9
  • Quote
  • Jan 11, 2010 7:33am Jan 11, 2010 7:33am
  •  Vantage
  • Joined Mar 2007 | Status: Member | 7,195 Posts
Hi
I used this kind of trading for some time. I used 1hr, 15 and 5 min. You can expand this to 4hr and daily. When all are lining up you can re-think your profit targets. Approx 60% of time (GU) will follow daily direction.
 
 
  • Post #10
  • Quote
  • Jan 11, 2010 7:48am Jan 11, 2010 7:48am
  •  KPForex
  • | Joined Dec 2009 | Status: Member | 241 Posts
???? what is these all green and all red??? how come i did not see anything? thanks
 
 
  • Post #11
  • Quote
  • Jan 11, 2010 8:05am Jan 11, 2010 8:05am
  •  buffalopip
  • | Joined Apr 2008 | Status: Member | 95 Posts
Hi , so which is easier , switching time frames on currency window or opening up each window for each time frame .. seems like a lot of flipping charts to change currency pair or just flipping time frames .... do you miss out on some trades because of this ...? thanks ...buffalopip....
 
 
  • Post #12
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  • Jan 11, 2010 8:15am Jan 11, 2010 8:15am
  •  KPForex
  • | Joined Dec 2009 | Status: Member | 241 Posts
hi can anyone explain? i dun get what it means?
 
 
  • Post #13
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  • Jan 11, 2010 8:17am Jan 11, 2010 8:17am
  •  Ronald Raygun
  • Joined Jul 2007 | Status: 32 y/o Investor/Trader/Programmer | 5,016 Posts
Quoting Brb-Fraudin
Disliked
Look at the last candle of M5,M15,M30 and H1
If all green ,buy.
If all red ,sell.

The system works on many trades and good money managment.
Statistically, if you look at any chart ,there are more consequential candles than candles of opposite colors.
Try it demo.
Ignored
Assuming you only trade on the closed candles, you only have 24 trade possibilities during the day.
 
 
  • Post #14
  • Quote
  • Jan 11, 2010 8:21am Jan 11, 2010 8:21am
  •  magnumfreak
  • Joined Nov 2007 | Status: Trying manual mode again | 2,210 Posts
Quoting Ronald Raygun
Disliked
Assuming you only trade on the closed candles, you only have 24 trade possibilities during the day.
Ignored
it has to be the closed candle otherwise at the top of each hour all the time frames would always line up.
 
 
  • Post #15
  • Quote
  • Jan 11, 2010 8:24am Jan 11, 2010 8:24am
  •  Sim
  • Joined Jun 2009 | Status: Member | 2,000 Posts
Quoting Brb-Fraudin
Disliked
The last active candle for all.
Ignored

Does he mean closed or unclosed?? I don't even know anymore
 
 
  • Post #16
  • Quote
  • Jan 11, 2010 8:24am Jan 11, 2010 8:24am
  •  KPForex
  • | Joined Dec 2009 | Status: Member | 241 Posts
Quoting KPForex
Disliked
hi can anyone explain? i dun get what it means?
Ignored
ok, i know what it means... but is it accurate for all pairs?
 
 
  • Post #17
  • Quote
  • Jan 11, 2010 8:31am Jan 11, 2010 8:31am
  •  zai7777
  • | Joined Nov 2009 | Status: Member | 8 Posts
meaning:

say buying mode,

after H1 candle close (green)

look for M30, M15 and M5.

if all green then BUY....
 
 
  • Post #18
  • Quote
  • Jan 11, 2010 8:39am Jan 11, 2010 8:39am
  •  TheGreatMilenko
  • Joined Jul 2006 | Status: Member | 967 Posts
Quoting magnumfreak
Disliked
it has to be the closed candle otherwise at the top of each hour all the time frames would always line up.
Ignored
RUBBISH. You can have a green(up) closed hourly candle, with the last 5min candle of that hour being red(down).
 
 
  • Post #19
  • Quote
  • Jan 11, 2010 8:40am Jan 11, 2010 8:40am
  •  KPForex
  • | Joined Dec 2009 | Status: Member | 241 Posts
From what i interpret correctly, yes.... But i think we will need an alert for that... if not, it will takes time if we go TF by TF... Do you all agree?

Quoting zai7777
Disliked
meaning:

say buying mode,

after H1 candle close (green)

look for M30, M15 and M5.

if all green then BUY....
Ignored
 
 
  • Post #20
  • Quote
  • Jan 11, 2010 8:41am Jan 11, 2010 8:41am
  •  magnumfreak
  • Joined Nov 2007 | Status: Trying manual mode again | 2,210 Posts
Quoting TheGreatMilenko
Disliked
RUBBISH. You can have a green(up) closed hourly candle, with the last 5min candle of that hour being red(down).
Ignored
You need to learn how to read. I said at the top of each hour. This was assuming he is using current active candle.
 
 
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