2 Bar Reversal Scalp | Page 3 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Scalp, scalp, scalp 5,689 replies

LUNC/USDT - Scalp Scalp Baby! 2 replies

3 Bar Fractal with mid-bar and bar on each side 11 replies

To scalp or not to scalp? (Images included) 18 replies

Pin bar, pin bar, pin bar 0 replies

Attachments: 2 Bar Reversal Scalp
Exit Attachments

2 Bar Reversal Scalp

  • #41
  • Apr 23, 2020 2:06am Apr 23, 2020 2:06am
doing that actually paid off alot for me though im not consistently trading that setup. i trade only when i notice small setup candles where the risk to reward will pay off greatly. the chances of false signals are 50/50 from visual backtesting
  • #42
  • Apr 23, 2020 4:09am Apr 23, 2020 4:09am
Quoting ewebb205
reducing the risk by catching the high of the entry candle wont filter the bad trades but with money management losses will be small (risk to reward){image}
Interessting. May I ask you how you catch the high in such setups? When do you know if it could be a possible high?
  • #43
  • Apr 23, 2020 5:15am Apr 23, 2020 5:15am
Crazy as it may seem, I like this strategy on D1. Check the charts once per day and put in my orders. Thanks, Harry!
  • #44
  • Apr 23, 2020 9:01pm Apr 23, 2020 9:01pm
Quoting kleybenny
{quote} Interesting. May I ask you how you catch the high in such setups? When do you know if it could be a possible high?
alot of times price likes to go to support and resistance of the previous day (pivot points) or just to waiting for a small retracement on the lower time frame and if price still continue to go farther than hopefully the drawdown isnt to bad before the stoploss is hit. here is an example of todays trade i took on an outside bar setup bouncing off of the 20 ma
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy 4-23-20 1.png Size: 137 KB
  • #45
  • Apr 23, 2020 9:05pm Apr 23, 2020 9:05pm
Quoting ewebb205
{quote} alot of times price likes to go to support and resistance of the previous day (pivot points) or just to waiting for a small retracement on the lower time frame and if price still continue to go farther than hopefully the drawdown isnt to bad before the stoploss is hit. here is an example of todays trade i took on an outside bar setup bouncing off of the 20 ma{image}
i base alot of my trades on a candle retracement before the entry because i guess im greedy enough to want as many pips as possible with as low as risk i can get.
  • #46
  • Jun 18, 2020 7:51pm Jun 18, 2020 7:51pm
Quoting ewebb205
{quote} i base alot of my trades on a candle retracement before the entry because i guess im greedy enough to want as many pips as possible with as low as risk i can get.
another interesting filter i notice to work decent to trade the setup on the bollinger spike. i tried visually backtested it on the major pairs only and more times that not it actually worked. 4hr and up preferred but try it yourself.
Attached Image (click to enlarge)
Click to Enlarge Name: audusd.png Size: 123 KB
  • #47
  • Jun 18, 2020 10:18pm Jun 18, 2020 10:18pm
Quoting machine25
Your entrys are not good (2) corrected The system will give only false signal in up trend or down trend, This is why you posted exemple in ranging market {file}
Just red candles.
Please excuse the bad English via Google Translate.
  • #48
  • Jul 5, 2020 10:45pm Jul 5, 2020 10:45pm
Quoting HiddenGap
{quote} I'm not questioning your work, but I would want to know if you used all examples or just specific ones? That is to say, I would argue that 2BRs taken in "air" do not have the same edge as 2BRs taken at Support/Resistance lines or in Supply/Demand zones. I contend the example below has an inherent edge over all those that appear randomly on a chart. {image} Don't get me wrong, the basic pattern may not be very reliable. But unreliable patterns taken in the right place still have a slight edge over unreliable patterns taken anywhere they appear....
Also I think it would be interesting to see backtesting results in which trades are only taken during certain market hours, such as the first 3 hours of London session and the first 3 hours of the NY session. Just in manual backtesting on Gold and GJ, it's pretty reliable in those specific time periods I mentioned.
  • #49
  • May 1, 2021 8:11pm May 1, 2021 8:11pm
is anyone out there still interested in this strategy?
  • #50
  • May 2, 2021 3:07am May 2, 2021 3:07am
Quoting ewebb205
is anyone out there still interested in this strategy?
nope
Observer effect
  • #51
  • May 3, 2021 6:05pm May 3, 2021 6:05pm
Quoting ewebb205
is anyone out there still interested in this strategy?

It depends on what you mean by "out there".

If you mean "in the world of professional trading, and among institutional traders and others successfully making their livings over the long term" then the answer's "yes": there's great interest and expertise with price action based systems like this one, built on valid, underlying market realities and proven over decades to be viable across a range of instruments and time-frames.

If you mean "out there in the FF forum" (where the degree of interest in systems listed is dependent primarily on multiple indicators and on EA's), then the answer's probably "no": there'll be hardly anyone interested in anything as promising, sensible and realistic as what was outlined above.
  • #52
  • May 4, 2021 3:44pm May 4, 2021 3:44pm
Quoting KarlKraus
there'll be hardly anyone interested in anything as promising, sensible and realistic as what was outlined above.
Lol, agreed - this one's a bit too good to get much attention, here.
  • #53
  • May 5, 2021 6:15pm May 5, 2021 6:15pm
Quoting KarlKraus
{quote} It depends on what you mean by "out there". If you mean "in the world of professional trading, and among institutional traders and others successfully making their livings over the long term" then the answer's "yes": there's great interest and expertise with price action based systems like this one, built on valid, underlying market realities and proven over decades to be viable across a range of instruments and time-frames. If you mean "out there in the FF forum" (where the degree of interest in systems listed is dependent primarily on...
Great response lol are you trading a system similar to this? I'm constantly trying to find better and better odds for this system. Any ideas
  • #54
  • May 6, 2021 9:23am May 6, 2021 9:23am
Quoting ewebb205
{quote} Great response lol are you trading a system similar to this?
Yes, for many years, now, as an independent ("retail") trader, and before that for many years for a small fund (not quite "institutional"!).

Quoting ewebb205
I'm constantly trying to find better and better odds for this system.
I think the mistake to avoid, in principle (here as with many other systems and methods) is the belief that adding an extra indicator or two, in an attempt to filter out some of the losers, is a good approach.

It rarely is.

What it typically does is increase the win-rate without increasing the profit, and the reduced trading-frequency that results from it effectively increases the risk, too. Many people go wrong this way.

Quoting ewebb205
Any ideas
The main thing is to use this system (and/or things like it and based on the same principles, which are good ones) on forex futures, not on spot forex.

There are actually many reasons why systems like this will almost always work much better on futures than on spot, but the main one is that when you trade futures, you can do it with volume bars instead of timed bars, and that often makes the difference between overall profit and overall loss. (The reasons for that are complicated, but its a valid observation).

I know that many people in this forum imagine that you can trade spot forex with volume-based bars/candles, but they're sadly mistaken: what they're missing is that when they "trade spot forex" they're not actually "trading" at all, because they're not in the market, just betting against a counterparty, and (here's the point) the counterparty whom they think of as a "broker" isn't actually a broker and has no volume to give them. Because it isn't available - the forex market isn't centralised. The only "volume figures" a spot forex broker can give you (though often they pretend it's more than this) is their own volume. And as the saying goes, "good luck with that"!

So the bottom line with systems like this, valid and sensible though they are, is that they're actually good systems for forex futures.

(And those are much more easily tradable than many retail traders appreciate. "6B" ("Cable futues"), for example, are only $6.25 per tick, so it's not like you need a fortune to trade them, if you have a profitable method.
  • #55
  • May 6, 2021 4:15pm May 6, 2021 4:15pm
Quoting KarlKraus
{quote} Yes, for many years, now, as an independent ("retail") trader, and before that for many years for a small fund (not quite "institutional"!). {quote} I think the mistake to avoid, in principle (here as with many other systems and methods) is the belief that adding an extra indicator or two, in an attempt to filter out some of the losers, is a good approach. It rarely is. What it typically does is increase the win-rate without increasing the profit, and the reduced trading-frequency that results from it effectively increases the risk, too....
interesting ive known about the broker "making the market" and the volume which is only brokerage volume. i watched a video on youtube about volume bars with forex trading im going to look into that more.
  • #56
  • May 6, 2021 5:09pm May 6, 2021 5:09pm
Quoting ewebb205
i watched a video on youtube about volume bars with forex trading im going to look into that more.
"Volume bars" and "forex trading" are mutually exclusive, for exactly the reason Karl rightly explains above. You'll need to trade currency futures, to do that.

Bar structure based systems (i.e. price action systems) like this do sometimes perform well, though, on constant volume bars.
  • #57
  • May 6, 2021 5:38pm May 6, 2021 5:38pm
Quoting Quickly
{quote} "Volume bars" and "forex trading" are mutually exclusive, for exactly the reason Karl rightly explains above. You'll need to trade currency futures, to do that. Bar structure based systems (i.e. price action systems) like this do sometimes perform well, though, on constant volume bars.
im interested now. i have a futures account but i dont know any platforms that offer volume bars. do you have any suggestions?
  • #58
  • Last Post: May 6, 2021 8:21pm May 6, 2021 8:21pm
Quoting Quickly
{quote} "Volume bars" and "forex trading" are mutually exclusive, for exactly the reason Karl rightly explains above. You'll need to trade currency futures, to do that. Bar structure based systems (i.e. price action systems) like this do sometimes perform well, though, on constant volume bars.
i watch this video on youtube about volume bars on tradestation
Inserted Video
0 traders viewing now