Attachments: Mug's Game

Mug's Game

#1
First Post: Edited Jan 17, 2024 3:31am May 20, 2018 4:39am | Edited Jan 17, 2024 3:31am

BubaYaga
Joined Jun 2014 | Status: Fader | 699 Posts

Hello & welcome to the Mug's Game.

Update January 9th 2024

So what has changed in the Mug's Game in 2024?

Indicators

Attached File(s)

Spread.ex4 9 KB | 374 downloads | Uploaded Jan 17, 2024 3:18am

Attached File(s)

Zoom Price.ex4 4 KB | 396 downloads | Uploaded Jan 17, 2024 3:19am

Attached File(s)

luktom pipsometer.ex4 7 KB | 402 downloads | Uploaded Jan 17, 2024 3:19am

Attached File(s)

TMT - Daily Candle.ex4 28 KB | 383 downloads | Uploaded Jan 17, 2024 3:19am

Template

Attached File(s)

Mugs Game.tpl 9 KB | 395 downloads | Uploaded Jan 17, 2024 3:19am

Attached Image (click to enlarge)

Click to Enlarge

Name: Mugs Game.jpg
Size: 340 KB

This system is listed on Forex Factory, Metals Mine, Energy EXCH & Crypto Craft.

All that is left to do is pick your poison and scalp some pips.

#2
May 20, 2018 4:46am May 20, 2018 4:46am

mizi123
Joined Jan 2015 | Status: Never underestimate value of an pip | 4,677 Posts

We waiting to hear more from you good luck

#3
May 20, 2018 5:23am May 20, 2018 5:23am

KashifNawaz
Joined Oct 2016 | Status: Trader | 578 Posts

Quoting BubaYaga

Disliked

There seem to be many, many misconceptions about trading. Someone will post something, and then someone else might agree with it. And then someone else reads it and accepts it as a truth. That is how easy it is to grow rubbish. Post the rubbish seed, someone might water it, then it becomes a rubbish tree, spreading it's rubbish seeds across the internet. It seems like a lot of people don't believe it is possible to successfully scalp the foreign exchange markets at a MT4 retail level. Even if you do manage to do it for a period of time, retail B-book...

Ignored

Hello Buba,

Expecting something really genuine from such an experienced and senior member of FF.

.................

#4
May 20, 2018 7:41am May 20, 2018 7:41am

BubaYaga
Joined Jun 2014 | Status: Fader | 699 Posts

In my opinion one of the hardest things about scalping is taking the losses. Watching price whip you out of a position, just to go to your target not long after. It's very easy to fall into the trap of not using a stop. That little devil talking in your ear can be a temptation, and once you start, you may be lucky for a while. Your head will grow and you'll believe you don't need a stop, you believe you have the skill to exit the trade without a loss. Perhaps you'll average out of losing positions successfully for a while. This invariably ends badly of course.

Before entering any trade, you need to know exactly where you are putting your stop. Not only that but you need to half expect your stop to get hit - and be fine with that.

If you find yourself getting annoyed, call it a day. You are not going to make good decisions when you're angry. This leads to revenge trading, which tends to lead to more losses - which will just make you more annoyed.
Walk away. Come back tomorrow when you're in a fresh emotional state and you have a much better chance of making any losses back (with interest).

#5
May 21, 2018 1:35am May 21, 2018 1:35am

BubaYaga
Joined Jun 2014 | Status: Fader | 699 Posts

I'm looking at the 2 minute chart.

As MT4 doesn't have 2 minute charts, we need to make an offline one. MT4 has a script for this. Just apply the "PeriodConverter" script to the 1 minute chart and change the "Period multiplier factor" in the Inputs tab from 3 to 2. Once you've done this you should be able to find the 2 minute chart in the offline charts.

Here are the indicators and template I use, once installed should look something like this.

Attached Image (click to enlarge)

Click to Enlarge

Name: offline chart.jpg
Size: 157 KB

Attached File(s)

Synergy_APB.ex4 4 KB | 1,562 downloads

SweetSpotsGOLD_TRO_MODIFIED_VERSION JV.ex4 14 KB | 1,585 downloads

Spread.ex4 9 KB | 1,508 downloads

Pivot Points - Daily (Shifted).ex4 21 KB | 1,513 downloads

pipsometer_decimal_edit_2.ex4 13 KB | 1,576 downloads

Magnified Market Price.ex4 9 KB | 1,539 downloads

ADR_v2.ex4 11 KB | 1,538 downloads

Keltner_Chanel.mq4 2 KB | 1,616 downloads

Scalp Till It Hurts.tpl 117 KB | 1,562 downloads

#6
May 21, 2018 1:40am May 21, 2018 1:40am

Effax-square
| Joined Oct 2013 | Status: Trader | 34 Posts

subscribed.

can't wait to see my posting from you BubaYaga

#7
May 21, 2018 2:16am May 21, 2018 2:16am

hibra68
Joined Apr 2015 | Status: Trader | 1,070 Posts

Quoting BubaYaga

Disliked

I'm looking at the 2 minute chart. As MT4 doesn't have 2 minute charts, we need to make an offline one. MT4 has a script for this. Just apply the "PeriodConverter" script to the 1 minute chart and change the "Period multiplier factor" in the Inputs tab from 3 to 2. Once you've done this you should be able to find the 2 minute chart in the offline charts. Here are the indicators and template I use, once installed should look something like this. {image} {file} {file} {file} {file} {file} {file} {file} {file} {file}

Ignored

So far i like the fact that you have bb on the chart

#8
May 21, 2018 3:46am May 21, 2018 3:46am

nozzer
| Joined Dec 2014 | Status: Trader | 465 Posts

subscribed...ready to go Buba

#9
May 21, 2018 4:24am May 21, 2018 4:24am

sideway
| Additional Username | Joined Oct 2017 | 69 Posts

Quoting BubaYaga

Disliked

There seem to be many, many misconceptions about trading. Someone will post something, and then someone else might agree with it. And then someone else reads it and accepts it as a truth. That is how easy it is to grow rubbish. Post the rubbish seed, someone might water it, then it becomes a rubbish tree, spreading it's rubbish seeds across the internet. It seems like a lot of people don't believe it is possible to successfully scalp the foreign exchange markets at a MT4 retail level. Even if you do manage to do it for a period of time, retail B-book...

Ignored

and just another rubbish?

#10
May 21, 2018 6:03am May 21, 2018 6:03am

BubaYaga
Joined Jun 2014 | Status: Fader | 699 Posts

Quoting hibra68

Disliked

{quote} So far i like the fact that you have bb on the chart

Ignored

That's Keltner channels on my chart, which are a bit different to Bollinger bands. But in all honesty, if you prefer Bollinger bands you could use them instead.

The purpose of the Keltner channels is to identify if price is in trend continuation mode, pull back mode, or consolidation mode.

If price is higher than where it opened that day, I consider the trend for that day to be up, and I'm only going to be taking long positions.

Continuation Mode is observed when price is hugging the Keltner channel in the direction of the trend, barely ever tagging the other side of the channel.

Attached Image (click to enlarge)

Pull Back Mode is observed when price switches and hugs the other side of the Keltner channel in the opposite direction of the trend.

Attached Image (click to enlarge)

Click to Enlarge

Name: Pull Back Mode.jpg
Size: 204 KB

Consolidation Mode is observed when price goes sideways, crossing the 20ema (center line of Keltner channel) back and forth.

Attached Image (click to enlarge)

Click to Enlarge

Name: Consolidation Mode.jpg
Size: 191 KB

#11
May 21, 2018 6:30am May 21, 2018 6:30am

jgadefelth
| Joined Jan 2008 | Status: Trillion Dollar Man | 1,495 Posts

Quoting BubaYaga

Disliked

{quote} That's Keltner channels on my chart, which are a bit different to Bollinger bands. But in all honesty, if you prefer Bollinger bands you could use them instead. The purpose of the Keltner channels is to identify if price is in trend continuation mode, pull back mode, or consolidation mode. If price is higher than where it opened that day, I consider the trend for that day to be up, and I'm only going to be taking long positions. Continuation Mode is observed when price is hugging the Keltner channel in the direction of the trend, barely...

Ignored

So on picture 2 it is really and uptrend with an pullback now going down ?

Thank You.
Best regards

#12
May 21, 2018 6:53am May 21, 2018 6:53am

BubaYaga
Joined Jun 2014 | Status: Fader | 699 Posts

Quoting jgadefelth

Disliked

{quote} So on picture 2 it is really and uptrend with an pullback now going down ? Thank You. Best regards

Ignored

Yes, that's right.

If we look at the hourly chart, that yellow box is picture 2. You can see there were 4 full bars outside the Keltner channels before that so it was well due for a pull back.

Attached Image (click to enlarge)

Click to Enlarge

Name: H1.jpg
Size: 160 KB

If you have the free screen space, it's a good idea to have the Hourly chart up as well, just to give you a perspective of the bigger picture playing out.

#13
May 21, 2018 7:27am May 21, 2018 7:27am

diamonddbw
Joined Sep 2010 | Status: Trader | 2,034 Posts

Good stuff Buba.

Thought this would be a fitting theme song;

Inserted Video

#14
May 21, 2018 7:42am May 21, 2018 7:42am

KashifNawaz
Joined Oct 2016 | Status: Trader | 578 Posts

Thanks Buba for your contribution. Waiting for Entry Exit Rules and also about "Mug"

.................

#15
May 21, 2018 9:17am May 21, 2018 9:17am

diamonddbw
Joined Sep 2010 | Status: Trader | 2,034 Posts

Also curious as to your methodology.

The few trades in your TE, are reminiscent of the most prolific scalper I've known. He would rarely gain more than 5 on any one trade, and traded about 7 pair. He was a busy guy. He has since, stopped trading, and bought a Fedex business (Maybe UPS, I don't recall).

Regarding 'PeriodConverter', it works well with a few caveats.
• Open a fresh blank chart, and set to one minute.
• Go back at least one month into history using "Page Up", or "Home Page" buttons.
• Load 'PeriodConverter', as Buba says, and change 'Period multiplier factor' to 2.
• Go to File --> Open Offline, and locate your 2minute chart. You must leave the 1minute chart (with 'PeriodConverter') open. I set up 1 & 2 minute charts side by side, so I can always quickly check to see 2minute is updating properly.
• As I recall, once you close MT4 and reopen, you may need to redo this process. Haven't tried this in about 2yrs, so maybe it's been updated.

Good Luck

#16
May 22, 2018 2:23am May 22, 2018 2:23am

KashifNawaz
Joined Oct 2016 | Status: Trader | 578 Posts

Great Results so far..... BubaYaga

Lets suppose, your initial deposit is 3000$, and your return is 12% in first week, (360$ on 18 pips only). Means you are playing 2 lots per trade (TP 5, SL 3).
Total 7 Trades so far (5 TP, 2 SL) Not bad.