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Scalping System JALNO

  • #121
  • Nov 21, 2017 11:30am Nov 21, 2017 11:30am
Quoting grrbear
right, with extra knowledge and experience and discretion one can make this system profitable but as it is probably not
4/5 wins today in EURUSD, USDJPY 3/4 on USJPY.
Considering 6 USDJPY in row yesterday, 1 loss from 10 not so shoddy in USDJPY, 1 loss in EURUSD over last 2 days (6/7)....hardly a disaster.
Look at best scalper only averages 80pips a month!!!
Does'nt it make it bad??
https://www.myfxbook.com/members/for...calper/1014592

All depends on your expectations/reality of pip anticipation.
myfxbook DOT com/members/TopTradeBot
  • #122
  • Nov 21, 2017 11:46am Nov 21, 2017 11:46am
Quoting TradeForex1
{quote} 4/5 wins today in EURUSD, USDJPY 3/4 on USJPY. Considering 6 USDJPY in row yesterday, 1 loss from 10 not so shoddy in USDJPY. Look at best scalper only averages 80pips a month!!! Does'nt it make it bad?? https://www.myfxbook.com/members/for...calper/1014592 All depends on your expectations/reality of pip anticipation.
so today was a losing day is what you are saying. 4/5 eu + 3/4 uj = 5.5p minus spreads and commissions = loss
  • #123
  • Nov 21, 2017 12:06pm Nov 21, 2017 12:06pm
Quoting grrbear
{quote} so today was a losing day is what you are saying. 4/5 eu + 3/4 uj = 5.5p minus spreads and commissions = loss
depends on your commission levels.
4/5=+4.5
3/4=0
Total=4.5pips.
Commissions @ $2 per R/T=1.8pips = +2.7 pips NETT GAIN
Commissions @ $5 per R/T=4.5pips = BREAKEVEN.

Performance includes spread.
As I mention in post #1, target is 50pips a week.
Monday was big day with 36pips on these 2 pairs.
Forex is not an ATM machine, doesnt pay out every day identically.
myfxbook DOT com/members/TopTradeBot
  • #124
  • Nov 21, 2017 12:12pm Nov 21, 2017 12:12pm
Quoting TradeForex1
{quote} depends on your commission levels. 4/5=+4.5 3/4=0 Total=4.5pips. Commissions @ $2 per R/T=1.8pips = +2.7 pips NETT GAIN Commissions @ $5 per R/T=4.5pips = BREAKEVEN. Performance includes spread. As I mention in post #1, target is 50pips a week. Monday was big day with 36pips on these 2 pairs. Forex is not an ATM machine, doesnt pay out every day identically.

Will you post the demo EA on the thread?
  • #125
  • Nov 21, 2017 12:18pm Nov 21, 2017 12:18pm
Why dont you just do this on m15 or m30 where the spreads and commisions wont eat into the profit
  • #126
  • Nov 21, 2017 12:21pm Nov 21, 2017 12:21pm
Quoting sharingan9
Why dont you just do this on m15 or m30 where the spreads and commisions wont eat into the profit
The clue is in the title, scalping.
myfxbook DOT com/members/TopTradeBot
  • #127
  • Edited 1:26pm Nov 21, 2017 12:57pm | Edited 1:26pm
Why don't you try to learn from your own mistakes instead of whining about the system which you probably tested for just two days?
The candle at 10:16 and 10:15 were most likely a stopping trend candles and high volume confirmed that (you can see this happens all the time in markets), you should just avoided that signal.
You folks must consider that a little knowledge on how the market works is needed even to trade the most simple strategy and if you want to be successfull in the long term.
This strategy can be very profitable if you learn how to use it properly and i think nothing stops you to adapt it to your needs, i.e. go for TP 4pips SL 8pips and see if it works better to you.
Bytheway i got e 3/3 win on EURUSD with this strategy today.

TradeForex1 im sending you PM to try the EA.

Cheers.

EDIT:
One more win on EURUSD (Candle 21:06), i know we are out of trading time rules but it looked good to me.
  • #128
  • Nov 21, 2017 1:20pm Nov 21, 2017 1:20pm
Not sure if the commissions and spread will allow a sustained profitability when scalping which is why i asked about using higher time frames to off set the spread etc.

Also a reward to risk of 1:3 will not allow for sustained account growth. Not sure if a simple trend trading system can be 90% accurate. maybe 70%. and with a 70% winrate its negative.

Would be interesting if you can provide some trade history for a few months that shows an accuracy of 90%. I know everyone gets excited when they win 3 in a row and see their balance rise but this shows that they are either new or desperate. When you get the losses your mood will change as your psychology wont be able to take the fact that 6 of your wins got wiped out by 2 losses.

You can try going for a 1:1 ratio but then the win rate may go down to 60% and that may be profitable but again your psychology may not be able to take losing 40% of the time. But we will see how the system works in the long run
  • #129
  • Nov 21, 2017 1:27pm Nov 21, 2017 1:27pm
Quoting TradeForex1
{quote} What makes you say that?
Friend, it is only math is not a law. If you take any business with a risk 3 to 1 is hard to make noney.
  • #130
  • Nov 21, 2017 1:34pm Nov 21, 2017 1:34pm
Quoting sanmiguell
{quote} Friend, it is only math is not a law. If you take any business with a risk 3 to 1 is hard to make noney.
I dont know what maths you studied but win/strike rate is part of this equation which you failed to mention.
myfxbook DOT com/members/TopTradeBot
  • #131
  • Nov 21, 2017 1:35pm Nov 21, 2017 1:35pm
Quoting sanmiguell
{quote} Friend, it is only math is not a law. If you take any business with a risk 3 to 1 is hard to make noney.
This system is a black or white one. It has a clear point you pull the trigger.
It is up to you, figure out how the overall conditions are.
Perfection is the enemy of good enough!
  • #132
  • Nov 21, 2017 2:52pm Nov 21, 2017 2:52pm
Quoting MichaelSch
{quote} This system is a black or white one. It has a clear point you pull the trigger. It is up to you, figure out how the overall conditions are.
Yes i agree completely
  • #133
  • Nov 21, 2017 6:58pm Nov 21, 2017 6:58pm
not good without some additions
more than this simple ea offer
Attached File(s)
File Type: ex4 JAlno--EA.ex4   390 KB | 452 downloads
  • #134
  • Nov 22, 2017 12:15am Nov 22, 2017 12:15am
Quoting llxx77dd
not good without some additions more than this simple ea offer {file}
Thank you for sharing this Jalno scalper strategy, i will try it also, btw are there any set up needed to be done or by default in the Inputs collumn in Jalno EA Property??
Thanks again
  • #135
  • Nov 22, 2017 12:42am Nov 22, 2017 12:42am
Hi TradeForex1,

Thanks for this system. I have been trying it out on demo account since last week Friday and I got some great results. I am new to trading but I find this system generally easy and the feedback from the market is quiet immediate (which I prefer over position trading). Maybe the ones that are seeing no value in this system should move on to other strategies instead of being negative.

EURUSD is trending up, one could just buy on dips and watch the system do wonders (for trend followers).

Keep posting and sharing ideas.

Happy Trading.
  • #136
  • Nov 22, 2017 1:20am Nov 22, 2017 1:20am
Dear,
Tradeforex1

I kind get a problem when attaching the EA, the smiley icon not displayed on the MT4, and when i checked by Right Click on the pair graphic, there was no Expert Advisors in the list.
Kindly need advise here.

Thanks
  • #137
  • Nov 22, 2017 1:31am Nov 22, 2017 1:31am
Quoting llxx77dd
not good without some additions more than this simple ea offer {file}
Thanks for sharing but i've this kind of problem when try to use it..
Seee journal
Thanks
Regards
https://gyazo.com/0cf43cfcf5dc3ca220b6479afb7c7743
  • #138
  • Nov 22, 2017 2:20am Nov 22, 2017 2:20am
Quoting Ryanfrc
Dear, Tradeforex1 I kind get a problem when attaching the EA, the smiley icon not displayed on the MT4, and when i checked by Right Click on the pair graphic, there was no Expert Advisors in the list. Kindly need advise here. Thanks
Not my EA. Ask whoever posted it.
myfxbook DOT com/members/TopTradeBot
  • #139
  • Nov 22, 2017 2:45am Nov 22, 2017 2:45am
Thanks Traderforex1 for your system I have tried in manual with good results. I can kindly try your EA, I will be grateful if you can send it to me. Thank you. Good work (excuse my English)
  • #140
  • Nov 22, 2017 3:09am Nov 22, 2017 3:09am
Dear All,
I published the REAL Jalno working EA to post#1.
Have fun.
myfxbook DOT com/members/TopTradeBot
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