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TMT Scalping System

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  • Post #661
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  • Jul 6, 2017 4:16am Jul 6, 2017 4:16am
  •  Kezz23
  • | Joined Mar 2017 | Status: Member | 121 Posts
Quoting Pollen
Disliked
yes works on big timeframe. i have been testing for sometime now. good results so far
Ignored
great job mate! I see original rules recommended M15, M5 or even M1, do you suggest H1 and H4 as well? Of course on H1/H4 is not called scalping anymore, I see you have positions with 200 pips in profit
 
 
  • Post #662
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  • Jul 6, 2017 4:50am Jul 6, 2017 4:50am
  •  Pollen
  • Joined Sep 2016 | Status: TMT Scalping... | 2,408 Posts
Quoting Kezz23
Disliked
{quote} great job mate! I see original rules recommended M15, M5 or even M1, do you suggest H1 and H4 as well? Of course on H1/H4 is not called scalping anymore, I see you have positions with 200 pips in profit
Ignored
yep, not a scalp anymore. but same concept, just on bigger timeframe.

I still trade smaller timeframe, but now i also go with big TF on my other account.
TMT Scalping System (Best system on FF)
 
 
  • Post #663
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  • Jul 6, 2017 4:54am Jul 6, 2017 4:54am
  •  Kezz23
  • | Joined Mar 2017 | Status: Member | 121 Posts
Quoting Pollen
Disliked
{quote} yep, not a scalp anymore. but same concept, just on bigger timeframe. I still trade smaller timeframe, but now i also go with big TF on my other account.
Ignored
thank you for answer! I will try both too see what works for me..another short question s I saw you were here and tried both systems, which one do you use, TMT here or the modified TMT from "Scalping Revival "thread? there I saw some currency meter was the biggest difference..
 
 
  • Post #664
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  • Jul 6, 2017 5:37am Jul 6, 2017 5:37am
  •  Pollen
  • Joined Sep 2016 | Status: TMT Scalping... | 2,408 Posts
Quoting Kezz23
Disliked
{quote} thank you for answer! I will try both too see what works for me..another short question s I saw you were here and tried both systems, which one do you use, TMT here or the modified TMT from "Scalping Revival "thread? there I saw some currency meter was the biggest difference..
Ignored
i rarely use the currency meter.
Because currency meters are misleading
TMT Scalping System (Best system on FF)
 
1
  • Post #665
  • Quote
  • Jul 7, 2017 5:31am Jul 7, 2017 5:31am
  •  Pollen
  • Joined Sep 2016 | Status: TMT Scalping... | 2,408 Posts
looking forward

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TMT Scalping System (Best system on FF)
 
 
  • Post #666
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  • Jul 10, 2017 4:37am Jul 10, 2017 4:37am
  •  Pollen
  • Joined Sep 2016 | Status: TMT Scalping... | 2,408 Posts
went long

EURJPY
TMT Scalping System (Best system on FF)
 
 
  • Post #667
  • Quote
  • Jul 19, 2017 1:42am Jul 19, 2017 1:42am
  •  Pollen
  • Joined Sep 2016 | Status: TMT Scalping... | 2,408 Posts
looking to long EU or GU or AU
good luck
TMT Scalping System (Best system on FF)
 
 
  • Post #668
  • Quote
  • Jul 19, 2017 1:54am Jul 19, 2017 1:54am
  •  Pollen
  • Joined Sep 2016 | Status: TMT Scalping... | 2,408 Posts
AU long

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TMT Scalping System (Best system on FF)
 
 
  • Post #669
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  • Jul 26, 2017 10:17am Jul 26, 2017 10:17am
  •  Rafsan
  • | Joined Jul 2015 | Status: Member | 9 Posts
Good system... I just wanted to know
" How many trades can you open at the same time? "
Because too many trades at the same time will surely ruin everything ( All win or All loss / Price Correlation )
 
 
  • Post #670
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  • Aug 20, 2017 11:36am Aug 20, 2017 11:36am
  •  Sasha1978040
  • | Joined Apr 2017 | Status: Member | 52 Posts
Quoting Pollen
Disliked
yes works on big timeframe. i have been testing for sometime now. good results so far
Ignored
Hello , tell upon entering on H4 you see a trend on the D1 timeframe ?
 
 
  • Post #671
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  • Aug 30, 2017 7:47pm Aug 30, 2017 7:47pm
  •  Erebus
  • Joined Jul 2011 | Status: Member | 7,006 Posts
I'm surprised this thread died off, looks reasonable Price Action set ups to me.

I would add in a few of my own criteria however, and these would address some of the questions early on.

Stop Loss and Take Profit always seems to be the big question, and the usual answer is it's a personal setting according to your risk appetite.

However, this method, it is easy, don't be greedy, just use 2 to 1, that is, set the Stop Loss for 1 x Risk Unit and the Take Profit for 2 x Risk Unit.

A Risk Unit is your risk per trade; I prefer 0.25% in this case, which gives a reward of 0.50% per trade.

Looks to me that 20 pips per entry SL is plenty, if that get hits, the indicators would be turning or it was a news spike.

Also, before trading I would check the Average Daily Range to see if there is room to reach the 2 x TP.

I can give examples if there is any interest.

The next thing I would address is when to trade - for me, just after London open, that is when the market moves begin.

Observe what happens during the early part of the day, is there a setup shortly after London, say within the hour or so?

That is the time of opportunity.

I will post a chart shortly....
Maximize wins, minimize loss, stay in the game as long as you can
 
3
  • Post #672
  • Quote
  • Aug 30, 2017 8:08pm Aug 30, 2017 8:08pm
  •  Erebus
  • Joined Jul 2011 | Status: Member | 7,006 Posts
I wouldn't even call this a Scalping system as such, isn't scalping a much more frantic exercise?

Here is how I saw the price action for the EURUSD yesterday, refer to the chart:

1. Price is in a decline from previous day, indicators are red, but went green during around Tokyo open. Also observe that price is uniform or smooth, no whipsaws or ranging with MA's crossing multiple times.

Note: I added the 100 EMA for reference, which was crossed, and by the way, changed the other MA's to 5 EMA and 12 EMA on the close as usual.

2. At Frankfurt and London open times, see the vertical lines, indicators went red again. I know the OP used a trend line but sell entry anywhere there with a 20 pips SL was never in danger.

3. The TP target of 40 pips was easily hit as price range of 50 pips shown 1.1950 to 1.1900 traded.

Your thoughts, comments, criticisms, thanks

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Maximize wins, minimize loss, stay in the game as long as you can
 
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  • Post #673
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  • Aug 30, 2017 9:02pm Aug 30, 2017 9:02pm
  •  Erebus
  • Joined Jul 2011 | Status: Member | 7,006 Posts
Here is another from yesterday, zoomed in to show there is no need to panic, just watch & read the price action

The arrow is showing the 8th 15 minute candle from London Open, this would be the old 2 hour London Breakout traders entry

As you can see, indicators have been red for a few bars, crossed the 100 EMA, 5 EMA and 12 EMA lined up

Hello, anyone out there?

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Maximize wins, minimize loss, stay in the game as long as you can
 
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  • Post #674
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  • Aug 30, 2017 9:27pm Aug 30, 2017 9:27pm
  •  littlebunny
  • | Joined Aug 2007 | Status: Member | 109 Posts
Quoting Erebus
Disliked
Hello, anyone out there? {image}
Ignored
Yes indeed. Your input is always appreciated.
My favorite crochet hook is size J. It's a J-Hook!
 
1
  • Post #675
  • Quote
  • Edited 10:10pm Aug 30, 2017 9:56pm | Edited 10:10pm
  •  Erebus
  • Joined Jul 2011 | Status: Member | 7,006 Posts
Quoting littlebunny
Disliked
{quote} Yes indeed. Your input is always appreciated.
Ignored
Very good, most traders probably sleeping now anyway, still too early for much response

Here are some more tips that may be useful, refer to the chart numbers:

1 - Currency Strength Meter, some swear by it, other swear at it, for me, it sure shows the short term weak vs strong and that's what we are looking for. Read the top and bottom pairs, go to that chart, is the price moving? is there a set up?

2 - Spread, you should always know the spread just in case some breaking news sneaks up on you. I use ECN broker but still watch it.

3 - ADR - I find that average daily range of 50 seems to be spot on for all of this year anyway, try your own settings

4 - The same indicator that shows the Market times also prints the projected ADR High & ADR Low or RDH / RDL line on the chart ( I use 50 of course )

Good luck, John

On edit: PS, forgot to point out the PIVOT POINT on that chart. Just use them as a reference point like MA's, often price will go up or down to them in early trading and then continue on with the trend, sort of a confirmation too.

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Maximize wins, minimize loss, stay in the game as long as you can
 
 
  • Post #676
  • Quote
  • Aug 30, 2017 10:27pm Aug 30, 2017 10:27pm
  •  Erebus
  • Joined Jul 2011 | Status: Member | 7,006 Posts
Guess I missed that opportunity working on charts and think about waiting until Europe opens

Trending down since New York, shortly after Tokyo, turns down more, some news also I believe

At the round number 0.72 room to move to RDL or round number 0.7150

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Maximize wins, minimize loss, stay in the game as long as you can
 
1
  • Post #677
  • Quote
  • Aug 30, 2017 11:26pm Aug 30, 2017 11:26pm
  •  littlebunny
  • | Joined Aug 2007 | Status: Member | 109 Posts
Wow; thanks. Where did you get the nifty currency strength meter?
My favorite crochet hook is size J. It's a J-Hook!
 
 
  • Post #678
  • Quote
  • Aug 31, 2017 12:17am Aug 31, 2017 12:17am
  •  Erebus
  • Joined Jul 2011 | Status: Member | 7,006 Posts
Quoting littlebunny
Disliked
Wow; thanks. Where did you get the nifty currency strength meter?
Ignored
The original basis for it is here on ForexFactory (FF)

https://www.forexfactory.com/showthr...52#post8290652

but there are quite a few Modified versions, a quick search will find most of them

https://www.forexfactory.com/showthr...76#post9389376

The colors are user set so probably look different, I will zip some up with a template if enough interest
Maximize wins, minimize loss, stay in the game as long as you can
 
 
  • Post #679
  • Quote
  • Aug 31, 2017 12:36am Aug 31, 2017 12:36am
  •  lisat
  • Joined Jun 2016 | Status: Member | 888 Posts
Quoting Erebus
Disliked
{quote} Very good, most traders probably sleeping now anyway, still too early for much response Here are some more tips that may be useful, refer to the chart numbers: 1 - Currency Strength Meter, some swear by it, other swear at it, for me, it sure shows the short term weak vs strong and that's what we are looking for. Read the top and bottom pairs, go to that chart, is the price moving? is there a set up? 2 - Spread, you should always know the spread just in case some breaking news sneaks up on you. I use ECN broker but still watch it. 3 - ADR...
Ignored
Thank you for posting Erebus, I use this a lot but I do not think it is that popular because of the trendlines needed although it is really only following price action. Like you I use the pivots and an adr indicator. I haven't tried the currency strength meter though and would like to give it a try would you mind posting the one you're using please.
Success means going from failure to failure without loss of enthusiasm
 
 
  • Post #680
  • Quote
  • Aug 31, 2017 12:41am Aug 31, 2017 12:41am
  •  Erebus
  • Joined Jul 2011 | Status: Member | 7,006 Posts
Quoting lisat
Disliked
{quote}Thank you for posting Erebus, I use this a lot but I do not think it is that popular because of the trendlines needed although it is really only following price action. Like you I use the pivots and an adr indicator. I haven't tried the currency strength meter though and would like to give it a try would you mind posting the one you're using please.
Ignored
The link is in previous post, it is TRO Modified version, I use different colors for black background chart, that's all
Maximize wins, minimize loss, stay in the game as long as you can
 
 
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