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Simple Scalping

Quoting Jenx
{quote} Only when price is at those areas I am careful.. I dont sell into support or buy into resistance. I wait and watch the pa on the m15. If it breaks I carry on with that trend, if it rejects , then the m1 will have invariably switched anyway. Hope this helps
Thank you very much, Jenx!
My simple contribution to this thread.
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File Type: ex4 BB_Simple_Scalp.ex4   12 KB | 1,275 downloads
No guts, no glory
Quoting abokwaik
My simple contribution to this thread. {image} {file}
That's very handy! Cheers.

My coding skills are up there with my grandmas so brilliant contribution. Takes away some of the concentration

Good work
Where price is now, it has been before, and will be again.
On UJ last hour or so.
Shows why you should be wary when price is meandering around the MA's. Strategy still valid but not very good value.

Best to sit it out and wait for it to make its move.
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Where price is now, it has been before, and will be again.
Quoting Ivanyo
{quote} You should share your trade with everyone so people can learn
Read Post 1 over and over until you understand it.

Read Post 78 over and over until you understand it.

I then load 1m chart on EurUsd and also 1h chart on EurUsd (just so I can see how the market is trending or ranging)

Be aware of where the 120 moving averages are on the 1m chart, and also where the support and resistance are.

Then decide if you want to trade, it's up to you to make the decision....

If I decide it looks good to trade, I wait for the price to move outside the bollinger band, and then when it re-enters on a new candle I place my trade.

This is the way I do it, everyone is different, plus I only did 2 trades, so I'm no expert lol.
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Please your view on those arrows for a buy signal, thanks.
Read in between the price!!!
Quoting calebfx
{image} Please your view on those arrows for a buy signal, thanks.
Not worth the risk, IMO if price is hanging around inside the MAs. Even though you'd have been able to get out at around BE on those, like I wrote earlier, its never really good value off the inside of MAs. That's sort of why I thought of the MA high/low thing as a buffer / filter .Obviously the 2 previous ( where you've ticked) were fine.
Where price is now, it has been before, and will be again.
Took 9 on Eu short. Looked like a good entry at 1.1894 near the resistance area. Wish I doubled up on position and let one ride. Thanks Jenx.
Don't know if this is of any help to anyone, just to clarify.

Here we have a valid buy signal but we are so close to M15 resistance ( green line is the low (gap start) and yellow line the high of that candle) that it really wouldn't be a wise trade. That's not to say it wouldn't work, just I wouldn't trust it.
In any case we have big USD news coming up.
Hope it helps
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Where price is now, it has been before, and will be again.
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Did I mark support with gap correctly?
Cheers.
Read in between the price!!!
Quoting calebfx
{image} Did I mark support with gap correctly? Cheers.
First one fine ( was filled 9 bars later creating demand) 10 bars later another was created, yet to be filled.
Second one, not at all ( maybe on lower tf ?)
Third one fine.
Hope that helps
Where price is now, it has been before, and will be again.
Quoting Jenx
{quote} First one fine ( was filled 9 bars later creating demand) 10 bars later another was created, yet to be filled. Second one, not at all ( maybe on lower tf ?) Third one fine. Hope that helps
It does, thanks a lot mate
Read in between the price!!!
Jenx my friend.

Since your from france,you tried the Dax index ? Looks great on back testing. Very low spreads.

How long have you been trading this strategy ? Whats your weekly average pips gain?


Kind regards,

Goose
Quoting abokwaik
My simple contribution to this thread. {image} {file}
Can you send mq4 please? Thank you.
Quoting goose4
Jenx my friend. Since your from france,you tried the Dax index ? Looks great on back testing. Very low spreads. How long have you been trading this strategy ? Whats your weekly average pips gain? Kind regards, Goose
I'm with IC markets now and so far I'm quite happy with them.Good value for money.
Mind you, I spent 8 years with Oanda so that's not difficult !
I've been playing about with this strategy for a while tweaking the bb and MA settings. Once I was getting consistent results I decided to share it about.
As I wrote earlier, it depends on the individual trader and their own risk appetite, personality, approach etc.
I tend to get an average of 25 pips a day. Some days 15 ,some 50 ,some days I have other things to do so don't trade at all. Having said that, I only take a handful of trades that crop up.
Depends on you.
Where price is now, it has been before, and will be again.
Quoting Jenx
{quote} None taken I don't try and get as many trades in as I can. I'm happy to sit in front of my computer for half an hour, an hour whatever waiting for a decent opportunity based on my rules. If one comes along, the trade rarely lasts more than 15/20 mins. I'm more than happy to take my 10/15 pips or whatever, close my laptop, get on my bike and go to the beach and come back later. You see this "system" is all about subjectivity. My trade is down to me. It's why it could never be automated into an ea. In any case, I've yet to see any ea work...

Was bored,cause having a little brake with trading and randomly found your thread! Was looking smthing familiar,subscribed and thank you for this thread. Will study now keep up the good work,be in green,cheers
wiki - Discipline. Consistency=$$$
Quoting Jenx
{quote} I'm with IC markets now and so far I'm quite happy with them.Good value for money. Mind you, I spent 8 years with Oanda so that's not difficult ! I've been playing about with this strategy for a while tweaking the bb and MA settings. Once I was getting consistent results I decided to share it about. As I wrote earlier, it depends on the individual trader and their own risk appetite, personality, approach etc. I tend to get an average of 25 pips a day. Some days 15 ,some 50 ,some days I have other things to do so don't trade at all. Having...

Well if you ever get into the dax. Prospreads are great. 0.34 spread. No commission. No tax. Direct access. No requotes.A broker designed for scalping. But its full lots. Also crude really good spread. Your strategy works well with that on one min.
Quoting goose4
{quote} Well if you ever get into the dax. Prospreads are great. 0.34 spread. No commission. No tax. Direct access. No requotes.A broker designed for scalping. But its full lots. Also crude really good spread. Your strategy works well with that on one min.
Interesting. I used to trade crude a lot, but not scalping. Got fed up of the manipulation in the end. Of course that's not an issue for a scalper
Where price is now, it has been before, and will be again.
Quoting Jenx
{quote} Interesting. I used to trade crude a lot, but not scalping. Got fed up of the manipulation in the end. Of course that's not an issue for a scalper

Yeah so prospreads spread is 2.25 spread for crude.

As you know the moves are big with crude. Traded when liquidity is high. Your method does very well last week (all I checked)
i tested the strategy and get 90% win rate.. so beautiful.. thanks!!
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