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Scalping System JALNO

  • #21
  • Nov 17, 2017 5:58pm Nov 17, 2017 5:58pm
Quoting TradeForex1
{quote} Its useful to see the Volume "coming alive" around 630am GMT. So the EURUSD market starting to take orders. Also, see the drop off post 5pm. Also, you will see before major news (ECB press conference, NFP,etc) you will see dramatic drop in volume for that morning. Typically I find these days are not great, volume is stagnant, ranges get miniscule. For now, its not part of system, but certainly abnormally low volume does not help it. It also helps traders educate themselves about volume when its there all the time and its influence + importance...
Thanks for the explanation, TradeForex1.

Roy
  • #22
  • Nov 17, 2017 6:41pm Nov 17, 2017 6:41pm
Quoting TradeForex1
{quote} When the 2nd bar changes colour. I.e take the trade on the open of the 2nd bar of red/blue.
Got it! Thanks!
  • #23
  • Nov 17, 2017 8:04pm Nov 17, 2017 8:04pm
Quoting jnevins
Very good system TradeForex1... Staying very close to the market like this is really the best recipe for success. I took a look at IC Markets in Australia but of course they won't open accounts for U.S. citizens. Do you know (or can anyone chime in) what broker a U.S. trader can work with that offers anything even close to IC? Week summary: 17 wins. 1 breakeven. 1 loss. Total pips weekending nov 17th: +57. Time for a beer. Well done!
JAFX will take US citizens and and is good for scalping like this.
EX BBMA trader focusing on REE code.
  • #24
  • Nov 17, 2017 9:04pm Nov 17, 2017 9:04pm
I've just subscribed to this Forum and there is a lot of information. I'm venturing into trading FOREX and finding out through demo account that scalping is my "cup of tea". I was using a

50 SMA
8 EMA and 15 EMA
RSI 5 Threshold with 50 as the mid line.

I was actually doing something similar to this I believe. Only entering a Long Entry when the bar moved above the 50 SMA along with the 8 EMA over the 15 EMA and confirming with the move over the 50 RSI.

But I'm looking at this strategy. Attempting to make things simpler.

By the way, what's a good broker in regards to commission, fees, etc... for scalpers for US citizens?

Thanks
  • #25
  • Nov 17, 2017 10:44pm Nov 17, 2017 10:44pm
Thanks for the system.
  • #26
  • Nov 17, 2017 11:31pm Nov 17, 2017 11:31pm
Price completely above/below MA 200 or only close?
  • #27
  • Nov 18, 2017 12:59am Nov 18, 2017 12:59am
I was watching this last night (sad I know) about 1030pm Hong Kong time. Looks pretty good, I like the 4.5 pips no greed approach. Juat trying to understand why so few trades in a week? Is that due to your own time restraints or a tactical reason?
  • #28
  • Nov 18, 2017 2:43am Nov 18, 2017 2:43am
Quoting Traffex
Price completely above/below MA 200 or only close?
The open price of the 2nd bar (trade entry) need to be above/below.
myfxbook DOT com/members/TopTradeBot
  • #29
  • Nov 18, 2017 4:25am Nov 18, 2017 4:25am
Quoting oyaks
a very powerful system thanks {image}
Hey Oyaks.
Can you share the arrows indicator of the image?

Thank you.
  • #30
  • Edited 6:25am Nov 18, 2017 5:51am | Edited 6:25am
Hi TradeForex1,

Can you please explain the logic behind the indicator JALNO? Would like to understand what's the signal based on.

Would u be able to provide the mq4 file pls?

Thanks!
  • #31
  • Nov 18, 2017 9:37am Nov 18, 2017 9:37am
Quoting fanatics
Hi TradeForex1, Can you please explain the logic behind the indicator JALNO? Would like to understand what's the signal based on. Would u be able to provide the mq4 file pls? Thanks!
Hi fanatics!

Attached chart MA 28 ( Linear Weighted, price Close, blue) and MA 144 (Linear Weighted, price Close, red).
After view the chart, you will see secret.
  • #32
  • Nov 18, 2017 10:52am Nov 18, 2017 10:52am
Hi Tradeforex1, thank you for sharing.

I am following your thread with interest as I like trading on 1MN Tf with short TP only. It seems to me your indi is the same as Heiken Aschi Aschi.. Am I wrong ?

One question I am asking myself though is that in the case where trend keeps on going your way, ie go beyond 4.5 pips, what would you do ? When would you consider reentering the trade again ?
  • #33
  • Nov 18, 2017 12:30pm Nov 18, 2017 12:30pm
Do you backtest it?
  • #34
  • Nov 18, 2017 12:54pm Nov 18, 2017 12:54pm
Quoting alesh
Do you backtest it?
Backtest what ?
  • #35
  • Nov 18, 2017 2:32pm Nov 18, 2017 2:32pm
TraderForex1 wrote in post #1 about an EA for this scalping System .... maybe the question is about this thingy ?
  • #36
  • Nov 18, 2017 2:43pm Nov 18, 2017 2:43pm
Quoting vanostrade
{quote} Hi fanatics! Attached chart MA 28 ( Linear Weighted, price Close, blue) and MA 144 (Linear Weighted, price Close, red). After view the chart, you will see secret.
+++++++++++++++++++

Good Show. I was trying Ichimoku Cloud settings, but only got close.
  • #37
  • Nov 18, 2017 9:00pm Nov 18, 2017 9:00pm
Quoting vanostrade
{quote} Hi fanatics! Attached chart MA 28 ( Linear Weighted, price Close, blue) and MA 144 (Linear Weighted, price Close, red). After view the chart, you will see secret.
Thanks vanostrade!
  • #38
  • Nov 18, 2017 9:32pm Nov 18, 2017 9:32pm
Quoting Simontw
{quote} JAFX will take US citizens and and is good for scalping like this.
Thanks Simontw, I'll look into them.
  • #39
  • Nov 19, 2017 12:41am Nov 19, 2017 12:41am
Quoting tigerbalm
{quote} Backtest what ?
Backtest this system!
  • #40
  • Nov 19, 2017 5:01am Nov 19, 2017 5:01am
Quoting alesh
{quote} Backtest this system!
Its manual for now. If you read it.
myfxbook DOT com/members/TopTradeBot
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