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Sharing scalping templates that actually work

  • #181
  • Edited 1:01pm Jan 8, 2020 9:05am | Edited 1:01pm
Quoting Dingoman-two
{quote} Could be a bit more yet my friend, {image}
All indicators work in some way or another, but none are your holy grail, or are they the absolute,
they should be only used as a guide only,

All price action moves can and do exceed their indicators limits all the time.

So don't fall in love with any of them folks.

  • #182
  • Jan 8, 2020 12:46pm Jan 8, 2020 12:46pm
Bullish divergence on M15 so fairly certain that we'll be going up sooner or later!
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  • #183
  • Edited 1:40pm Jan 8, 2020 1:04pm | Edited 1:40pm
Quoting Mtinifx
Bullish divergence on M15 so fairly certain that we'll be going up sooner or later! {image}

Excellent M,

And thank you for sharing your knowledge and expertise here my friend.

  • #184
  • Edited 3:41pm Jan 8, 2020 3:25pm | Edited 3:41pm
Quoting Dingoman-two
{quote} then add your template to it in the lower time frame that you choose
If you say "lower" time frame it sounds like you do also look at the higher time frame/s before placing your orders? Or do you just analyse and place your trades by what you see on the chart you look at, so if this is M5, Only looking at M5, place order, set SL, TP for M5 too.

I feel hard to understand your strategy/charts. I did not download the introduction post template yet, but after looking at some of the charts you posted including those from post 1, i still don't see what the entry criteria for placing a trade should be?

Is this only about placing a trade whenever 2 moving averages are crossing or what is the magic? If it would be that easy...

Maybe you could post some charts adding a vertical line over exactly the candles where you placed a buy or short?

Another question would be, what are your trading times and for how long you actively sit in front of the charts looking for trades per day? What is the average amount of trades per week, what is your win rate with it? I mean there would be tons of signals by just these simple moving average cross overs you get here, it would be a hell of a stress and possible a hell of a lot false signals.

So there must be anything else you do to filter out "good" from "best" signals that you did not explain here so far yet. Or do you only trade one market for a specific fixed time range per day and thats it? Like trading EUR/USD only for 2-3 hours after london open or similar scenario. Otherwise i wonder how you would avoid over trading. Also no words about news and fundamental aspects yet. Doesn't matter?

There is still a lot to do here, hope you can answer at least some of my questions so we get a better full picture. With these infos alone, nobody i guess would never ever be able to achieve consistently profitable results in the long run with just "scalping" here and there like randomly without any bigger trade plan around it.
  • #185
  • Edited 6:49pm Jan 8, 2020 6:32pm | Edited 6:49pm
Quoting lddd
{quote} If you say "lower" time frame it sounds like you do also look at the higher time frame/s before placing your orders? Or do you just analyse and place your trades by what you see on the chart you look at, so if this is M5, Only looking at M5, place order, set SL, TP for M5 too. I feel hard to understand your strategy/charts. I did not download the introduction post template yet, but after looking at some of the charts you posted including those from post 1, i still don't see what the entry criteria for placing a trade should be? Is this only...

Hi idda,

wow, ok I will try and answer all your questions as best as I can,

I am trying to target the newbies and I am trying to have everyone use their own ability to trade, as I am not going to just give anyone all the answers, so having said that I will try to get as close to the point in your questions as possible,

The entry criteria as you have asked for has not been laid out, but what has been laid out is the possible areas for entries into a trade that can occur,
it is and has been putting to the newbies over and over to practise first in a demo account, as I am sure you are aware that there maybe a time were your very own rules dont work, and it is just your skills that tell you to move forward with your trade or not, "THIS IS NOT SOMETHING THAT CAN BE TAUGHT" it has to be learnt.

2/
By using the moving averages on their own, you need to remember, (GO SHORT WHEN BELOW TO 200 LWMA AND GO LONG WHEN ABOVE, THEN TRADE IN THE DIRECTION OF THE 20 SMA) and by using these MA,s in a higher time frame the success rate should very good, Probably around to 70/80 percent mark, but you will have to be very patient and wait for the right moment to enter the trade, and once you come across one, then the trade should be left to run for the time you have chosen to trade in, whether, it be a daily or 4 or 1 hourly chart, the stop losses are up to the trader to decide, me personally trade with a one full contract (1.00) at a time and sometimes at multiple times, most times I do not use a stop losses, if I do it will be set at a $300 stop point every time, once you are in profit, you could use a trailing stop loss, or set your stop loss at a point were you break even, or as I do sometimes and that Is set my stop loss at a point where I can double my commissions and just let it run, but you must return and check on your trade before your candle has expired, And at this point you can move your stop loss or not, your choice, And/or just let it run, And If your trade is successful then your rewards should be huge.

If you trade in the lower time frames, (as i do) then you should get a lot more trades, with a fair degree of success as well, but your stop losses should be much tighter, possible at the lower or higher point of the nearest resistance points, or at the lowest or highest point of the previous candle, I personally use fibs in an volatile market, for me it's more about the swing's most of the time, and only trading in the direction of the 20 sma.

3/
The trading times for me are as long as i choose, as I am unable to move about much because of a workplace injury, and other issues, so I am housebound nearly all the time.

The best time for most would have to be the EUR opening.

4/
The news and all the rest is important, and I do check for the two highest levels of importance, all are of no concern to me in the higher time frames,
but the lower time frames in the 15 min area or less, I try and stay out of a trade, especially the Non Farm Payroll announcements.

5/
I do focus on the EUR.USD a lot, then the GBP/USD comes next, and I am now focusing on the AUD/USD as well.

6/
As far as filtering the good from the bad trades go's, I think this just comes down to experience my friend.

I hope all this has helped, and good luck to you.

Brian Dingoman-two
  • #186
  • Jan 8, 2020 7:42pm Jan 8, 2020 7:42pm
Just IMO you cant filter bad trades , they happen ... you just have to be prepared to react to minimise d/d ... SP
  • #187
  • Edited 9:10pm Jan 8, 2020 8:49pm | Edited 9:10pm
This chart is screaming at me

There's a macd divergence as well folks, early sign of a reversal.

I missed it.

It just go's to show you what's out there.

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  • #188
  • Jan 8, 2020 8:50pm Jan 8, 2020 8:50pm
Bad trade nowhere near as bad as bad bushfire (m8's house ) brings ya back to reality...
.
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  • #189
  • Jan 8, 2020 9:04pm Jan 8, 2020 9:04pm
Quoting starpro
Bad trade nowhere near as bad as bad bushfire (m8's house ) brings ya back to reality... .{image}

Woow,
What a shame starpro I hope him and his family got out alright, was he insured my friend.

My wife and her family are/were living in Tumbarumba Wagga Wagga area.



I feel for him my friend, Truly felt sorrow for him and his,

I was involved in the Toodyay fires over her in WA a few years ago now,

And they are bad news

  • #190
  • Jan 8, 2020 9:10pm Jan 8, 2020 9:10pm
Thanks BD , Yeh insured , but you cant replace "things" of time gone by ... all safe but obviously devestated
  • #191
  • Jan 8, 2020 9:20pm Jan 8, 2020 9:20pm
Quoting starpro
Thanks BD , Yeh insured , but you cant replace "things" of time gone by ... all safe but obviously devestated

My wife's parents have/had a property in tumba (pensioners) they lost everything, all they saved was an old tractor,

There buildings were heritage and in the family from around the 1860s, now there's a lot of memories gone there.

Dam real sham
  • #192
  • Jan 8, 2020 9:45pm Jan 8, 2020 9:45pm
Hard for them too BD ... nice part of the world up there
  • #193
  • Jan 9, 2020 1:52am Jan 9, 2020 1:52am
Some times "nostromos " pivots help , see bounce off WPP . 1 problem these days is price bounces before pivot,,, algos set just above?
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  • #194
  • Jan 9, 2020 7:30am Jan 9, 2020 7:30am
Sorry to hear about the fire damage - quite awful what's happening down under

EURNZD can be quite nice to trade if one is looking for a faster ride
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  • #195
  • Jan 9, 2020 8:18am Jan 9, 2020 8:18am
Quoting Dingoman-two
only trading in the direction of the 20 sma.
Going only long if price is above the 200 MA, going short if its below. Okay. But what do you mean by only trading in the direction of the 20 SMA? For e.g if price is above 200 MA i would enter a BUY position. So even if the 20 SMA is going in the opposide direction of the 200 MA i would not open a SELL position because price still would be over the 200 MA. In conclusion i would alway only enter long if price is above 200 MA and short if its below.

So i am not sure what role the 20 SMA would play here.

The cross of 200 MA and 20 SMA gives you the entry area (setup/signal) if i understand that correct. Now direction should be clear if price is below or above the 200 MA. Do i get this correct?

Another question would be how do you avoid slow moving ranging markets (as this is the case most of the time until there isnīt much news or so). Or will this work with just every market situation?

I wil try to download your template and indicators and post some trade examples next week.

Thanks for your kind reply and detailed explanations.
  • #196
  • Jan 9, 2020 9:19am Jan 9, 2020 9:19am
Quoting lddd
{quote} Going only long if price is above the 200 MA, going short if its below. Okay. But what do you mean by only trading in the direction of the 20 SMA? For e.g if price is above 200 MA i would enter a BUY position. So even if the 20 SMA is going in the opposide direction of the 200 MA i would not open a SELL position because price still would be over the 200 MA. In conclusion i would alway only enter long if price is above 200 MA and short if its below. So i am not sure what role the 20 SMA would play here. The cross of 200 MA and 20 SMA gives...
Hi Iddd,

Moving averages are just a guide.
The trades depends on your style.
S/R, S/D, Pullbacks, Candle patterns, Breakout zones, etc ...

Build your own style.
Uncertainty of the market must be embraced and accepted.
  • #197
  • Jan 9, 2020 9:29am Jan 9, 2020 9:29am
There are 3 different moving averages on your charts in post 1. But the indicators window opened on post 1 showing only 2 moving averages attached, so what now?
  • #198
  • Jan 9, 2020 9:34am Jan 9, 2020 9:34am
Quoting lddd
There are 3 different moving averages on your charts in post 1. But the indicators window opened on post 1 showing only 2 moving averages attached, so what now?
Why dont you read all the thread, is not so big at the moment, 10 pages only.
Uncertainty of the market must be embraced and accepted.
  • #199
  • Jan 9, 2020 9:44am Jan 9, 2020 9:44am
Quoting slb
{quote} Hi Iddd, Moving averages are just a guide. The trades depends on your style. S/R, S/D, Pullbacks, Candle patterns, Breakout zones, etc ... Build your own style.
I would like to trade the london open only for a couple of hours (maybe until NY opens). Investing less time needed to make a living. At best where i only have to focus on one market. I tried different manual trading strategies over the years all with not much long term success.

I even have more success with a stupid martin gale going profitable for already 5 years on complete auto pilot but i understand the risk and donīt want to do that with trading 1 Lot on a higher funded account

So.... if anyone could help me with finding that "something" which is tested and proven to work over time. Not looking for a holy grail but something with strict rules giving crystal clear entry criteria at least that can be repeated to find over and over again without having to deal with tons of other stuff like analysing multiple time frames, fundamentals, different market conditions and so on and so on.

The title of the topic suggested something like that but i guess i am wrong. Just some templates and indicators without much details on how to use them, when to use them, where to use them.
  • #200
  • Jan 9, 2020 9:54am Jan 9, 2020 9:54am
Quoting lddd
{quote} I would like to trade the london open only for a couple of hours (maybe until NY opens). Investing less time needed to make a living. At best where i only have to focus on one market. I tried different manual trading strategies over the years all with not much long term success. I even have more success with a stupid martin gale going profitable for already 5 years on complete auto pilot but i understand the risk and donīt want to do that with trading 1 Lot on a higher funded account So.... if anyone could help me with finding that "something"...
The Holy Grail for me is ... experience and to have a good management of the drawdown.
Uncertainty of the market must be embraced and accepted.
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