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M5 USDJPY Scalping System in 3 steps

  • #81
  • Jan 26, 2018 10:22pm Jan 26, 2018 10:22pm
Quoting Torontoman
{quote} For 2 days, I had great results. Then 1 or 2 days, I had bad results. It’s because sometimes, there is a buy signal, then a sell signal immediately after. So, I’m thinking that it depends on what time you make your first trade. So, it’s 50/50. Unless I’m missing something.
remember its only one trade at a time
Grind until you no longer have to introduce yourself. 4:30am club
  • #82
  • Jan 27, 2018 1:05am Jan 27, 2018 1:05am
Quoting Fxmd
{quote} remember its only one trade at a time
Thanks for your message. But if I enter a long, then I get a sell signal, why is the first signal correct? Why isn’t it the second signal? If I opened my computer 5 minutes later, the sell signal is correct. Respectfully asking if I am missing something?
  • #83
  • Jan 27, 2018 11:12am Jan 27, 2018 11:12am
Quoting Torontoman
{quote} Thanks for your message. But if I enter a long, then I get a sell signal, why is the first signal correct? Why isn’t it the second signal? If I opened my computer 5 minutes later, the sell signal is correct. Respectfully asking if I am missing something?
Oh, I get what youre saying now, usually I start marking trades from the beginning of the week, as you said, "if I open my computer 5 minutes later and get a different signal.." so yes, I keep track of signals from the start of the week, I do not trade 24/7 so yeah some times I pass, but mark them on chart to keep track of signals hope this is clear
Grind until you no longer have to introduce yourself. 4:30am club
  • #84
  • Jan 27, 2018 11:47am Jan 27, 2018 11:47am
Quoting Torontoman
{quote} Thanks for your message. But if I enter a long, then I get a sell signal, why is the first signal correct? Why isn’t it the second signal? If I opened my computer 5 minutes later, the sell signal is correct. Respectfully asking if I am missing something?
Best if you show a screenshot.
I think you are asking; what if there is a long and a short bar one after the other on the same line. If so, do you buy or sell???
  • #85
  • Jan 27, 2018 3:57pm Jan 27, 2018 3:57pm
Quoting Shah74a
{quote} Best if you show a screenshot. I think you are asking; what if there is a long and a short bar one after the other on the same line. If so, do you buy or sell???
My interpretation is that the strategy starts with the VERY FIRST CANDLE which fulfills the stated entry conditions first (1 hour after Asia opens).

So if we have a LONG bar crossing the "00" line and closing above it, then this is THE FIRST VALID CANDLE to open a BUY trade. It also means that we ignore any subsequent candles (incl. SELL bars) until after the triggered BUY trade closes either in profit or loss. Then "RINSE & REPEAT".
  • #86
  • Edited 6:53pm Jan 27, 2018 6:24pm | Edited 6:53pm
Quoting Shah74a
{quote} Best if you show a screenshot. I think you are asking; what if there is a long and a short bar one after the other on the same line. If so, do you buy or sell???
Yes, Shah74!!! You understand my question. I attached the photo. Look at the last 3 bars. You see a buy signal. Then you see a sell signal. Let’s assume that the sell signal was valid. According to Fxmd you keep the buy signa, because you have to hold on. You don’t close it. Why? Why is the buy signal the correct decision and the sell signal is not? Or am I missing something?
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  • #87
  • Jan 27, 2018 8:59pm Jan 27, 2018 8:59pm
Loaded ok, will try on demo
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  • #88
  • Jan 28, 2018 12:03pm Jan 28, 2018 12:03pm
Set the round number lines and colour scheme. Ready to turn 5000 into...
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  • #89
  • Jan 28, 2018 1:32pm Jan 28, 2018 1:32pm
HI Fxmd,

Just read the entire thread so far. Thanks for sharing this simple strategy. Looking forward to longer time frame rules. I will test 5min frame manually. This reminds me of a S/R strategy. Do you incorporate higher time frames as part of your weekly 5min strategy to help determine trend? Also, do you consider candle formations at levels before taking the trade?

Cheers!
Axleman.
  • #90
  • Jan 28, 2018 10:58pm Jan 28, 2018 10:58pm
Quoting Axleman
HI Fxmd, Just read the entire thread so far. Thanks for sharing this simple strategy. Looking forward to longer time frame rules. I will test 5min frame manually. This reminds me of a S/R strategy. Do you incorporate higher time frames as part of your weekly 5min strategy to help determine trend? Also, do you consider candle formations at levels before taking the trade? Cheers! Axleman.

Same here looking forward for H4
  • #91
  • Jan 29, 2018 12:37am Jan 29, 2018 12:37am
Quoting Axleman
HI Fxmd, Just read the entire thread so far. Thanks for sharing this simple strategy. Looking forward to longer time frame rules. I will test 5min frame manually. This reminds me of a S/R strategy. Do you incorporate higher time frames as part of your weekly 5min strategy to help determine trend? Also, do you consider candle formations at levels before taking the trade? Cheers! Axleman.
Thanks for your input. Are you saying that days like today, we should only sell, because the 4 hour trend is down?
  • #92
  • Jan 29, 2018 12:53pm Jan 29, 2018 12:53pm
Quoting Axleman
HI Fxmd, Just read the entire thread so far. Thanks for sharing this simple strategy. Looking forward to longer time frame rules. I will test 5min frame manually. This reminds me of a S/R strategy. Do you incorporate higher time frames as part of your weekly 5min strategy to help determine trend? Also, do you consider candle formations at levels before taking the trade? Cheers! Axleman.
Hello, I do not use multiple timeframes or indicators to determine trend. But you can use channels or just draw a horizontal line at daily open, if price is above it we are in an uptrend if price is below the line we are in a downtrend. This method to find trend can be applied in any period.
Grind until you no longer have to introduce yourself. 4:30am club
  • #93
  • Jan 29, 2018 12:54pm Jan 29, 2018 12:54pm
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Memorize this, remember no one can predict 100% accuracy where price is going next but you want to take trades with high probabilities on your side. The above image I created sums up forex trading in the most simple form. Good luck to all of you
Grind until you no longer have to introduce yourself. 4:30am club
  • #94
  • Jan 29, 2018 1:02pm Jan 29, 2018 1:02pm
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  • #95
  • Jan 29, 2018 1:04pm Jan 29, 2018 1:04pm
As you can see, this system for USDJPY is based on breakout box of every .100 level
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  • #96
  • Jan 30, 2018 11:38am Jan 30, 2018 11:38am
Hi im newbie in forex hope anyone could help me, how i can set to get notification and to move trade pad
  • #97
  • Jan 30, 2018 9:41pm Jan 30, 2018 9:41pm
Quoting Fxmd
{quote} Hello, I do not use multiple timeframes or indicators to determine trend. But you can use channels or just draw a horizontal line at daily open, if price is above it we are in an uptrend if price is below the line we are in a downtrend. This method to find trend can be applied in any period.
Thanks FXMD,
no problem with trends/ indicators/time frames/ reading candlestix,etc for me. I appreciate your patience in following the strategy. I will follow along as well.
  • #98
  • Jan 31, 2018 2:01am Jan 31, 2018 2:01am
Hit TP 2 times...
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PIVOT Return This Year: na
  • #99
  • Feb 1, 2018 7:48am Feb 1, 2018 7:48am
Hi everyone.

Testing this out for the first time.

Hope its not begginers luck.

IN
http://i68.tinypic.com/28rgns8.png

OUT
http://i68.tinypic.com/2qtzb46.png

JESGPY
  • #100
  • Feb 3, 2018 8:51pm Feb 3, 2018 8:51pm
Quoting Jesgpy
Hi everyone. Testing this out for the first time. Hope its not begginers luck. IN {image} OUT {image} JESGPY
Nice, keep risk management in check
Grind until you no longer have to introduce yourself. 4:30am club
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