Scalping on 1h charts | Forex Factory

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Scalping on 1h charts

  • #1
  • First Post: Jul 21, 2019 8:25pm Jul 21, 2019 8:25pm
wondering if anyone interested in this kind of trading...
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  • #2
  • Jul 24, 2019 6:00pm Jul 24, 2019 6:00pm
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  • #3
  • Jul 26, 2019 1:50am Jul 26, 2019 1:50am
Hi...,

ye..i'm interested on the strategy

thx and have a nice day
  • #4
  • Jul 26, 2019 10:40pm Jul 26, 2019 10:40pm
Quoting ohleclaire
Hi..., ye..i'm interested on the strategy thx and have a nice day
Thanks for posting.

Setting:
1h chart + EMA50 + EMA16 +stoc 2.1.1

Entry points to consider: you don't enter all the points!! You need to filter them (I'll talk about it later)
For Long
1. the candlestick is above EMA50 (wicks not included, only the body part)
2. both EMA50 and EMA16 are bullish (green)
3. Stoc V-turn
4. entry timing = after bar close (never enter before the bar closes)

For Short = opposite the above.

TP/SL=10pips

Pairs=any pairs, but I do USDJPY, EURJPY, AUDJPY, and EURUSD

Let me know if you understand. Then I will talk about how to filter the entry points.
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  • #5
  • Jul 27, 2019 6:49pm Jul 27, 2019 6:49pm
Quoting Forexgogo
{quote} Thanks for posting. Setting: 1h chart + EMA50 + EMA16 +stoc 2.1.1 Entry points to consider: you don't enter all the points!! You need to filter them (I'll talk about it later) For Long 1. the candlestick is above EMA50 (wicks not included, only the body part) 2. both EMA50 and EMA16 are bullish (green) 3. Stoc V-turn 4. entry timing = after bar close (never enter before the bar closes) For Short = opposite the above. TP/SL=10pips Pairs=any pairs, but I do USDJPY, EURJPY, AUDJPY, and EURUSD Let me know if you understand. Then I will talk...
I understand all.look forward to filter it.
  • #6
  • Edited 6:50pm Jul 28, 2019 3:47am | Edited 6:50pm
Quoting CMforex2019
{quote} I understand all.look forward to filter it.
Now "filtering."
1. Do not add any more indicator to the chart. You will lose 100%. Additional indicators don't work for this particular trading style. (so, please do not talk about any additional indicators)
2. The best filtering is your intuition, hunch, gut feeling, or whatever you call it... The key is the volatility. If you can "ride" on volatility, you win. So, train your eyes to see the volatility on 1H chart. Remember you already have EMA50 and EMA16 on your side. So, only the question you need to ask is, will the price move 10 pips in your favor?
3. Do not switch to the shorter time frames (30m, 15m, or 5m). Stick to the 1h chart. Changing perspective does not help seeing the volatility.

This is what I do for reading the volatility
Watch the distance between EAM50 and EMA16. The further the more volatility.
Watch the slant of EMA16.
How far to the nearest big round number

Anyway, before you do anything, just try to enter all the "entry points" (on demo account USDJPY or EURUSD). You will see you don't lose as much as you expect. So, If you have only a little "edge" to see the volatility, you will win quite easily.
  • #7
  • Edited Jul 29, 2019 12:48am Jul 28, 2019 6:45pm | Edited Jul 29, 2019 12:48am
Here is an example. Do you see the volatility as I see? BTW, I put the SL 20 pips far, but my mental SL is 10 pips far. I just don't want to get killed by spikes. I will move the physical SL to break-even when the price reaches 75.00 -- it may bounce up.
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  • #8
  • Jul 28, 2019 10:55pm Jul 28, 2019 10:55pm
Thank you for your input, I will start demo from today and show you the result for your further advise.
  • #9
  • Edited 12:22am Jul 29, 2019 12:00am | Edited 12:22am
Quoting CMforex2019
Thank you for your input, I will start demo from today and show you the result for your further advise.
Here is a trick you might want to try. Once you get the price 5 pips in your favor, move the SL to BE. Well, but it all up to you. In many cases, moving SL kills winning trades. I know I'm contradicting...

This trading method is not as simple as it looks... that I tell ya. hahaha
  • #10
  • Jul 29, 2019 12:59am Jul 29, 2019 12:59am
Quoting Forexgogo
Here is an example. Do you see the volatility as I see? BTW, I put the SL 20 pips far, but my mental SL is 10 pips far. I just don't want to get killed by spikes. I will move the physical SL to break-even when the price reaches 75.00 -- it may bounce up. {image}
I think so.IT's not simple. AS your entry. it did not retrace to MA.so Your deciision base on slope EMA16 + distance EMA16and 50 ( volatillity) + Sto V shape.
Am I right?
  • #11
  • Jul 29, 2019 2:19am Jul 29, 2019 2:19am
Another example. I put SL/TP 20 pips afar, but mental SL/TP is 10 pips afar.
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  • #12
  • Jul 29, 2019 7:02am Jul 29, 2019 7:02am
One more.
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  • #13
  • Jul 29, 2019 7:41am Jul 29, 2019 7:41am
Quoting CMforex2019
{quote} I think so.IT's not simple. AS your entry. it did not retrace to MA.so Your deciision base on slope EMA16 + distance EMA16and 50 ( volatillity) + Sto V shape. Am I right?
You are right. Learn the "winning patterns." As you practice, you will notice recurring winning patterns. Once you got them, everything is much easier.
  • #14
  • Jul 29, 2019 9:34pm Jul 29, 2019 9:34pm
How about this?
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  • #15
  • Jul 29, 2019 11:00pm Jul 29, 2019 11:00pm
UJ this morning, enough for 10 pips.
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  • #16
  • Jul 29, 2019 11:30pm Jul 29, 2019 11:30pm
Quoting CMforex2019
UJ this morning, enough for 10 pips. {image}
When did you enter? At the opening of the current bar? If so, that is a wrong entry.
  • #17
  • Jul 29, 2019 11:37pm Jul 29, 2019 11:37pm
Yes. Sto?
Thank you for your attention.
  • #18
  • Jul 30, 2019 12:41am Jul 30, 2019 12:41am
Is this OK? From simulator.
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  • #19
  • Jul 30, 2019 12:43am Jul 30, 2019 12:43am
And this?
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  • #20
  • Jul 30, 2019 12:46am Jul 30, 2019 12:46am
2 trades above are enough for 10 pips. I would like to confirm setting.
thank you.
Mon.
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