VolcanoWMA Scalping

***YOU CAN READ THIS BUT TO ENTER IN THE REAL GAME JUMP TO PAGE 12***

Hello,

I come up with my first trading method that i developed practicing other's trading methods and with which i'm not doing so bad.

it's manly inspired from Guppy Moving Average and some other rainbows trading approach but it has finally not a lot to do with.

how it looks ?:

http://imagebin.org/index.php?mode=image&id=120684http://imagebin.org/index.php?mode=image&id=120684
http://img405.imageshack.us/img405/7...tatrade.th.png http://img59.imageshack.us/img59/6145/eurusdm1.th.png

what is the template ?:

- WMA 40 to 60 and 90 to 120

wich pairs trade with it ?

- All pairs, All TF, but I advice only EU and 1M TF because this is a scalping strategy and the spread is tight on this pair.

Trading hours ?

from Monday Tokyo open to Friday London Close.

How to trade it ?:

- watching 1min chart at the first or second zoom level wait for a trend developing, when all WMA's are agree together and have a good slope wait for an arrow. here is the only good way to avoid fake arrows

- *the best setup is when yellow wma are stretched and green/red are compressed*

How to enter ?:

- personally i look at my oanda's 5sec chart with the same template, and i enter when all wma are looking bullish or bearish (in agreement with my 1min chart of course...)

Stop Loss ?:

- most of the time i use the peaks and troughs concept (check attachment if you never heard about it) on my 5sec chart so sometimes it's really tight sometimes a little bit more wide. i avoid more than 20 pips, it's scalping...

How to exit ?:

- if you have some experience in trading you already know that i can't bring you this answer... personally i move my stop loss above my longs orders or below my shorts orders as soon as possible it avoids me to get stopped stupidly. (i use oanda, i don't know if everybody can do that with other platforms)

what's wrong with it ?:

- you need to know what you do this is not a blind system, it's a strategy with the help of a good indicator (at least for me).

why i share it ?:

- if nobody share some good stuff on the web we all stay very poor financially and mentally
- i would like that some people try it and give me some feedbacks.

you really hate rainbow based systems, only your trading rocks and i really suck ?:

- there is many other thread in this forum you can post.

Cheers !

here is the last template and indicator:

Like ur Q and A.

Will check out pdf.

Cheers.

let's have a try.

thanks, kikolool

can you post indic and template for mt4?

or detailed list of all ma s


thanks

here is the trade i took last night:
(the entry and stop loss in magenta)

http://img813.imageshack.us/img813/6...tatrade.th.png

http://img253.imageshack.us/img253/6...imary52.th.png

i attached my template and the ex4 file (this is the NO-LAG version)

i missed the one on EU:

http://img831.imageshack.us/img831/8812/eurusdm5.th.png


but i took the one on GU:

http://img249.imageshack.us/img249/7702/gbpusdm5.th.png


as you can see at the time you enter the price doesn't turn often against you before going in the right direction and this is stress-less.

note that the first arrow in a new trend is most of the case the best one

thanks kikoolol.... very nice

the indicator repaint?

not anymore using this one http://cdn.forexfactory.com/attachme...0&d=1288359570

looks like a nice scalping technology with long term perspective.

will have to wait for monday and see how arrows appear.

much thanX

Thanks for sharing, however i backtested it and found out there are a number of false signals during choppy period. wonder if i have done anything wrong. The WMAs, angle nicely opened up like fan, then arrow shows, once enter trade, it moves the other direction..

I had no time for trading yesterday and today but i watched the chart for these 2 days and it doesn't look so bad.

maybe you can post the chart you are speaking about and i could tell you if i would traded these signals or not and why.

one trade today on EJ entry and stop loss in magenta:

http://img220.imageshack.us/img220/6...tatrade.th.png

http://img513.imageshack.us/img513/6...imary52.th.png

here is a wrong trade with stop loss:

http://img258.imageshack.us/img258/6544/20317787.th.png

the trade is going nowhere, so it's time to exit, anyway it was risky near a support but with tight stop loss it doesn't really hurt you.

http://img607.imageshack.us/img607/6648/56452983.th.png

so, how to fail with class

Currently i'm rebuilding the code of my indicator everyday trying to make it better. Check out the date of my first post edition , when a better one is available i will release it.

Hi
It looks very promising. will test it next week and get back to you...

thanx, trade it patiently and you will, get it

one scalp on EU today:

http://img510.imageshack.us/img510/6...tatrade.th.png


http://img256.imageshack.us/img256/6...imary52.th.png

done for the week !

It looks very interesting. I would like to contribute to this thread since I have previously traded emmas before. I will upload some taught and ideas this weekend.

a cherry picking for the pleasure of our eyes:

http://img163.imageshack.us/img163/2...rteurusdm5.png