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Simple Scalping

  • #41
  • Sep 12, 2017 12:36am Sep 12, 2017 12:36am
Just did my first trade: EU long
Beautiful/Brilliant system!
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 107 KB


(Code here includes the Keltner Channels)
Inserted Code
//@version=3
study("M1Scalping",overlay=true,title="M1Scalping using BB", shorttitle="M1Scalping")
//Calculate BB, default stddev set to 1
length = input(25, minval=1, title="Length"), mult = input(2.0, minval=0.001, maxval=50, title="MultFactor")
source = close
midBB = sma(source, length)
dev = mult * stdev(source, length)
upperBB = midBB + dev
lowerBB = midBB - dev
c0=midBB[0]>midBB[1]?green:midBB[0]<midBB[1]?red:yellow
p0 = plot(midBB, color=c0, linewidth=1, style=cross,title="Middle BB")
p1 = plot(upperBB, color=blue, linewidth=3,title="Upper BB")
p2 = plot(lowerBB, color=blue, linewidth=3,title="Lower BB")
fill(p1, p2, color = yellow)
// plot smoothed MA
MA1len = input(120, minval=1, title="Smoothed MA1 Length")
MA1src = input(high, title="Smoothed MA1 Source")
MA2len = input(120, minval=1, title="Smoothed MA2 Length")
MA2src = input(close,title="Smoothed MA2 Source")
smma1 = 0.0
smma1 := na(smma1[1]) ? sma(MA1src, MA1len) : (smma1[1] * (MA1len - 1) + MA1src) / MA1len
MA1c01=smma1>smma1[1]?green:smma1<smma1[1]?red:yellow
plotsmma1=plot(smma1, color=MA1c01)
smma2 = 0.0
smma2 := na(smma2[1]) ? sma(MA2src, MA2len) : (smma2[1] * (MA2len -1) + MA2src) / MA2len
MA2c02=smma2>smma2[1]?green:smma2<smma2[1]?red:yellow
plotsmma2=plot(smma2, color=MA2c02)
fill(plotsmma1,plotsmma2,color=MA2c02)
// Plot Keltner Channels
KCuseTrueRange = input(true,title="KC True Range")
KClength = input(30, minval=1,title="Keltner Length")
KCmult = input(1.5, title="Keltner Multiplier")
KCma = sma(source, length)
KCrange = KCuseTrueRange ? tr : high - low
KCrangema = sma(KCrange, KClength)
KCupper = KCma + KCrangema * KCmult
KClower = KCma - KCrangema * KCmult
plot(KCupper, color=purple,linewidth=1,title="Upper KC")
plot(KClower, color=purple,linewidth=1,title="Lower KC")
// define bull or bear based on BB crossing
bull = crossunder(low,lowerBB) and close>max(smma1,smma2)
bear = crossover(high,upperBB) and close<min(smma1,smma2)
// Plot
plotshape(bull,"Buy",shape.labelup,location.belowbar,green,text="Long",transp=50,textcolor=black)
plotshape(bear,"Sell",shape.labeldown,location.abovebar,red,text="Short",transp=50,textcolor=black)
// End of script M1Scalping
  • #42
  • Sep 12, 2017 12:38am Sep 12, 2017 12:38am
Quoting kleybenny
{quote} Thank you for sharing One question: What do you mean with "Keltner Channels 30 : 1.5 : Exponential"? I think Keltner Channel with period 30 and k value of 1.5 right? And expotential MA mode. Can you recomment or even share a MT4 Keltner Channel indicator with this input possibillities? Because in the one I have I can only change the period. Thank you
here you go. you can set it close to Jenx BB settings, or whatever you prefer.

Attached File(s)
File Type: ex4 KeltnerChannel_v1.ex4   11 KB | 1,042 downloads


Attached File(s)
File Type: mq4 KeltnerChannel_v1.mq4   3 KB | 1,109 downloads
  • #43
  • Sep 12, 2017 1:10am Sep 12, 2017 1:10am
In my opinion, due to the spread, even in a small spread pair UJ, TP should be not more than 5 pips in order to get a consistent positive result in 1 min TF.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM1.png Size: 46 KB
Jakepuia
  • #44
  • Sep 12, 2017 1:21am Sep 12, 2017 1:21am
more than 30pips...done for the day. i watch only the four majors EU, GU, UJ and UC
when i test something new i always try it with microlots...

thx JenX for the interesting trading idea!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSDM1.png Size: 62 KB
Click to Enlarge Name: USDCADM1.png Size: 73 KB
Click to Enlarge Name: USDJPYM1.png Size: 67 KB
trading is like dancing, don't think and just listen to the music!
  • #45
  • Edited 3:53am Sep 12, 2017 3:06am | Edited 3:53am
USDJPY trade worked out great 4 Minutes for 5 Pips. Not much but the risk was lower^^ EurUsd 12 Pips and usdjpy agian with 10 Pips

nice day
Everyday better.
  • #46
  • Edited 5:47am Sep 12, 2017 5:29am | Edited 5:47am
Quoting Jenx
{quote} Nice,Thanks. Just placed Keltner(30) over my template and seems to provide a nice filter for when price rides the bands and confirms the one time bounces also. However,it does just strike me as not much different to adding high/low ma's to the bb ma. As I'm a slightly aggressive trader, I tend to look for good value entries outside the bands. Of course, theres no wrong or right way. Very interesting.Cheers
I use the Keltner to find the meat in the middle and wait for the market to bite at it. It's just a visual aid. More trades; less profit. Waiting for re-entry reduces the risk of buying into a runaway down-swing(or it's equally dastardly sell/up-swing twin). I think it allows me to use more leverage than I would otherwise. I don't do too well if I risk 50+% on just the BB. I don't really use stoplosses because of the win-rate. I basically sacrifice all that extra room that would be between the Keltner and the BB as a way to offset buying into a bad swing that's really a surprise breakout/reversal. The longer it stays outside the Keltner without re-entry(with the obvious exception of false spikes); the safer it is when it finally comes in. The market can do what it wants everywhere else but the channel is my safe-space.
"The fun is in the hunt. Not the kill."
  • #47
  • Sep 12, 2017 5:43am Sep 12, 2017 5:43am
I coded an EA with the current rules, and it's certainly not profitable. One problem is that waterfalls in the adverse direction will kill any profit. Setting a stop-loss don't help either. So if you're profitable in the long run, please share the additional rules based on "psychology".
  • #48
  • Sep 12, 2017 5:47am Sep 12, 2017 5:47am
Moneyfred have you red the thread?
Everyday better.
  • #49
  • Sep 12, 2017 5:48am Sep 12, 2017 5:48am
Quoting moneyfred201
I coded an EA with the current rules, and it's certainly not profitable....
...this is a very good message
trading is like dancing, don't think and just listen to the music!
  • #50
  • Sep 12, 2017 5:52am Sep 12, 2017 5:52am
Quoting birdland
{quote} ...this is a very good message
Sure. Have patience and wait.
"The fun is in the hunt. Not the kill."
  • #51
  • Sep 12, 2017 5:53am Sep 12, 2017 5:53am
Quoting moneyfred201
I coded an EA with the current rules, and it's certainly not profitable. One problem is that waterfalls in the adverse direction will kill any profit. Setting a stop-loss don't help either. So if you're profitable in the long run, please share the additional rules based on "psychology".
I donīt understand why people come hear, arenīt willing or arenīt able (I donīt know maybe both?) and than asking such questions and bother threat starter to proove something. I really dont understand.

1. Jenx wrote a view times, that he not trades all signals, but filters trades with support and resistance and PA (He also mentioned which method he uses to find supp and demand) - thanks therefore Jenx! It helped me a lot to find better resistance and supports areas!

2. No strategy can be traded mechanically without eyes and brain and than be longterm profitable! No system.

Sorry, but please read the threat. And have a little bit of decency.
  • #52
  • Sep 12, 2017 5:55am Sep 12, 2017 5:55am
Quoting birdland
{quote} ...this is a very good message
no edge, lot of subjectivity, what do you expect ? mostly cherry picked winners only shown, this is typical ff bs.
  • #53
  • Sep 12, 2017 5:59am Sep 12, 2017 5:59am
Quoting moneyfred201
I coded an EA with the current rules, and it's certainly not profitable. One problem is that waterfalls in the adverse direction will kill any profit. Setting a stop-loss don't help either. So if you're profitable in the long run, please share the additional rules based on "psychology".
As I said from the beginning, I don't believe any EA has ever been profitable in the long run.
Like I say, its all about subjectivity and discretion. Not buying into resistance , overbought conditions, news etc.
It's about cherry picking the trades.
Yesterday I had 5 trades, today 2.
Sure, there have been dozens of opportunities but I chose the ones I was happy with.
If I make 15 pips in a day, that's fine. If I make 50, better.
If I want to go into the hills walking for the day, I won't trade at all.
Greed will kill an account every time.
This strategy allows trading in conditions exactly the OPPOSITE to which you are creating with your EA.
That's almost my point.
Cheers
Where price is now, it has been before, and will be again.
  • #54
  • Sep 12, 2017 6:02am Sep 12, 2017 6:02am
Quoting metta87
{quote} no edge, lot of subjectivity, what do you expect ? mostly cherry picked winners only shown, this is typical ff bs.
the edge is YOU.
then go somewhere else to play and leave us here (serious traders) PLEASE alone.
and also please EA traders...run as fast as you can!!! we dont want you here.
trading is like dancing, don't think and just listen to the music!
  • #55
  • Sep 12, 2017 6:16am Sep 12, 2017 6:16am
For example, I have a small personal rule.
I never take 2 consecutive trade opportunities.
No reason why not, and more often than not the second would be just as profitable, if not more so, than the first.
But it just stops me over trading. More often than not, if I take 12/15 pips , I'll go off and do something else for that session.
That's just my particular "rule of thumb"
There's no right or wrong way. Just whatever suits your personality and lifestyle.
Good luck everyone and remember there's more to life than forex.
Where price is now, it has been before, and will be again.
  • #56
  • Sep 12, 2017 6:19am Sep 12, 2017 6:19am
Quoting birdland
{quote} the edge is YOU. then go somewhere else to play and leave us here (serious traders) PLEASE alone. and also please EA traders...run as fast as you can!!! we dont want you here.
I doubt you'll get a reply as I have "ignored" him, which I think prevents him/her from commenting.
I did ask them politely earlier in the thread, but as they say "Haters will be haters"
Good luck
Where price is now, it has been before, and will be again.
  • #57
  • Sep 12, 2017 6:22am Sep 12, 2017 6:22am
Quoting kleybenny
{quote} I donīt understand why people come hear, arenīt willing or arenīt able (I donīt know maybe both?) and than asking such questions and bother threat starter to proove something. I really dont understand. 1. Jenx wrote a view times, that he not trades all signals, but filters trades with support and resistance and PA (He also mentioned which method he uses to find supp and demand) - thanks therefore Jenx! It helped me a lot to find better resistance and supports areas! 2. No strategy can be traded mechanically without eyes and brain and than...
Not entirely true. There is one system that I've come across that could be coded into an EA and is long-term profitable. Took me a little while to figure out what it's edge was(so that I could utilize it to improve my own system) and the strategy is sound... it actually accounts very well for that 'holy-grail' people can't seem to find. Is it perfect all the time? No... but it does have positive expectancy.

That's precisely why I won't share it.
"The fun is in the hunt. Not the kill."
  • #58
  • Sep 12, 2017 6:30am Sep 12, 2017 6:30am
Quoting Redeflect
{quote} Not entirely true. There is one system that I've come across that could be coded into an EA and is long-term profitable. Took me a little while to figure out what it's edge was(so that I could utilize it to improve my own system) and the strategy is sound... it actually accounts very well for that 'holy-grail' people can't seem to find. Is it perfect all the time? No... but it does have positive expectancy. That's precisely why I won't share it.
Than why you are here, if you have such a good EA which makes you money? Use it and keep it for you You will be rich man soon.
  • #59
  • Sep 12, 2017 6:36am Sep 12, 2017 6:36am
Quoting Jenx
{quote} As I said from the beginning, I don't believe any EA has ever been profitable in the long run. Like I say, its all about subjectivity and discretion. Not buying into resistance , overbought conditions, news etc. It's about cherry picking the trades. Yesterday I had 5 trades, today 2. Sure, there have been dozens of opportunities but I chose the ones I was happy with. If I make 15 pips in a day, that's fine. If I make 50, better. If I want to go into the hills walking for the day, I won't trade at all. Greed will kill an account every time....
Jenx , first of all congratulations for your simple , clear and profitable system.

EAs are the ruin of a trading system.
It's the same old story : a guy post a system that work well , obviously in manual .
The rules are clear and simple and the system, usually, is profitable.
At that time comes someone who says: " Hey bro ! This is a nice system, why do not we make an EA ? "
Here is the beginning of the end : the EA works sometimes yes and sometimes not , then guys change the rules which are no longer neither clear nor simple.
All give advices : maximum confusion.
The spirit of original - manual - system is lost .
End of the story.
Moral : Manual strategy with strict respect for the rules : all OK. Manual strategy transformed into EA : all KO.
  • #60
  • Sep 12, 2017 6:44am Sep 12, 2017 6:44am
Quoting kleybenny
{quote} Than why you are here, if you have such a good EA which makes you money? Use it and keep it for you You will be rich man soon.
The dreams of riches grow stale and kill a traders account(that mentality obscures the reasoning necessary to become profitable). I'm here for the same reason someone joins a bowling league or a book club; I enjoy playing the game and I enjoy the discussions.

If you knew how to cheat... why wouldn't you just play the game for the joy of playing it?
"The fun is in the hunt. Not the kill."
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