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Scalping System by Machine

  • #121
  • Jun 26, 2024 8:22pm Jun 26, 2024 8:22pm
Quoting axecap
{quote} Hi Please can you let me know the volume indi you are using on trading view? Thanks
its the default indicator of volume in tv

1 sl for eu +1 for au
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  • #122
  • Jun 26, 2024 8:54pm Jun 26, 2024 8:54pm
Quoting tapikotakupe
{quote} its the default indicator of volume in tv 1 sl for eu +1 for au {image} {image}
You will always have losing trades but maybe avoid Eur/USD is Asia session.
Trade currencies in there active session
  • #123
  • Jun 26, 2024 11:05pm Jun 26, 2024 11:05pm
Quoting DwnUndrTrdr
{quote} You will always have losing trades but maybe avoid Eur/USD is Asia session. Trade currencies in there active session
high spread bro so im sticking with low spread pair my trading time is limited so im looking for trade from asian sesh to london open 2hrs
  • #124
  • Jun 27, 2024 2:38am Jun 27, 2024 2:38am
Nice thread and a very interesting system! I’ve been into scalping my self scalping break and retests on the 1min but I have a bit of a problem with my entries but you opened up a new door here with this entry technique and I’m going to try out this technique and se how it performs just to make sure I got it right, caught this entry today at 5min gbpusd, added fib as an extra confluence. Nice entry candle with good volume and above 20ema. Seems about right?

Happy to continue following this thread!
best regards
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  • #125
  • Jun 27, 2024 3:58am Jun 27, 2024 3:58am
Quoting Theo.baaws
Nice thread and a very interesting system! I’ve been into scalping my self scalping break and retests on the 1min but I have a bit of a problem with my entries but you opened up a new door here with this entry technique and I’m going to try out this technique and se how it performs just to make sure I got it right, caught this entry today at 5min gbpusd, added fib as an extra confluence. Nice entry candle with good volume and above 20ema. Seems about right? Happy to continue following this thread! best regards {image}...
Perfect and glad to have you here!
  • #126
  • Jun 27, 2024 7:13am Jun 27, 2024 7:13am
M1 let’s see

-1R
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  • #127
  • Jun 27, 2024 8:33am Jun 27, 2024 8:33am
+1R
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  • #128
  • Jun 27, 2024 12:05pm Jun 27, 2024 12:05pm
+1R

Textbook by a hair…
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  • #129
  • Jun 27, 2024 12:21pm Jun 27, 2024 12:21pm
Quoting MachineLearn
+1R {image}
I am glad you are finding your footing with this technique, let me ask you, if you had BOS and pullback and then reversal into the new trend, would you still need the volume indicators? Would you not take this trade if Volume was smaller, let's say half the size of the volume of breakdown candle(the one with dashed line)?
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  • #130
  • Jun 27, 2024 12:44pm Jun 27, 2024 12:44pm
Quoting driven18
{quote} I am glad you are finding your footing with this technique, let me ask you, if you had BOS and pullback and then reversal into the new trend, would you still need the volume indicators? Would you not take this trade if Volume was smaller, let's say half the size of the volume of breakdown candle(the one with dashed line)? {image}
always a treat to see you in the thread!

I've tested variations with and without volume and you definitely need volume. Without it, even observing price action, there’s too many signals and just not enough confluence to confidently enter trades. If at the very least, it’s there to help reduce the amount entries you get. It’s certainly doing more than that though. I’d encourage you to try and share some results without it.

It’s not always a sure shot, but for aggressive scalping, it’s always a treat to be on the side of the winning volume

Thats why with my personal charts I take it one step further with everex, but it’s completely optional.
  • #131
  • Jun 27, 2024 1:18pm Jun 27, 2024 1:18pm
Quoting MachineLearn
{quote} always a treat to see you in the thread! I've tested variations with and without volume and you definitely need volume. Without it, even observing price action, there’s too many signals and just not enough confluence to confidently enter trades. If at the very least, it’s there to help reduce the amount entries you get. It’s certainly doing more than that though. I’d encourage you to try and share some results without it. It’s not always a sure shot, but for aggressive scalping, it’s always a treat to be on the side of the winning volume...
Thank you for "treat to see you". I was just checking up on you and looks like you are on the very right path. As you most likely know, i am a big proponent of KISS and you have KISS.

You still did not answer if you would enter a trade, if Volume bar was in red color but half the size of the volume bar on your chart.

Statistics of the technique is the only edge that trader has and I have found in my research that volume, statistically, only deters from entering a proper first trade after BOS. You still have plenty of time to either prove it or disprove it. Stick to this simple technique and good luck!
  • #132
  • Jun 27, 2024 1:47pm Jun 27, 2024 1:47pm
Quoting driven18
{quote} Thank you for "treat to see you". I was just checking up on you and looks like you are on the very right path. As you most likely know, i am a big proponent of KISS and you have KISS. You still did not answer if you would enter a trade, if Volume bar was in red color but half the size of the volume bar on your chart. Statistics of the technique is the only edge that trader has and I have found in my research that volume, statistically, only deters from entering a proper first trade after BOS. You still have plenty of time to either...
i’m looking at volume relative to the last bar. So if hypothetically, the volume on the setup bar was halved, and thus smaller than the previous blue volume bar, I would not have taken it, no
  • #133
  • Jun 27, 2024 1:55pm Jun 27, 2024 1:55pm
That is a good answer, as long as you trading multiple instruments, it is a good selection criteria for the next trade.

I trade only one instrument for the last 5 years, so perhaps my stats are geared towards it.
  • #134
  • Jun 27, 2024 1:58pm Jun 27, 2024 1:58pm
Quoting driven18
That is a good answer, as long as you trading multiple instruments, it is a good selection criteria for the next trade. I trade only one instrument for the last 5 years, so perhaps my stats are geared towards it.
Agreed, I trade all forex instruments if the rules call for it.

There’s definitely some big advantages to only trading one instrument however
  • #135
  • Jun 27, 2024 2:44pm Jun 27, 2024 2:44pm
+1R

Textbook

Perfect Everex
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  • #136
  • Edited 6:52pm Jun 27, 2024 3:42pm | Edited 6:52pm
6E (EUR/USD Futures) M5 from 8AM-5PM EST (7 winners/0 loser with R:R 1:1) with RSI filter and without filtering for ATR:
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  • #137
  • Jun 27, 2024 4:07pm Jun 27, 2024 4:07pm
Quoting RoboSeer
6E (EUR/USD Futures) M5 from 8AM EST (6 winners/0 loser with R:R 1:1) with RSI filter and without filtering for ATR: {image}
EURUSD is the gift that keeps on giving, nice trades today!
  • #138
  • Jun 27, 2024 5:50pm Jun 27, 2024 5:50pm
Trade breakdown

Nice setup earlier on AUDUSD that took profit in one candle, quick breakdown on what I saw...

  1. Protect position best as you can. Didn't matter too much here, but don't be scared to adjust your SL slightly away from hi/lo
  2. Green bars leading up to setup candle are showing lots of effort, but yielding no result. You can see that on Everex(optional), but you can also observe yourself by looking at volume and then seeing the size of the candles and the wicks. Then setup bar we got big red volume with an equal effort vs result which is good.
  3. Higher volume than previous bar on setup candle.
  4. Clear resistance above, more confirmation for bearish bias
  5. A good uptrend broke (multi point), more bearish bias. Breakout Phase.
  6. Down trendline intact, more bearish bias.
  7. ATR was half a pip below 4, but we're in KillZone and 3 pips is acceptable on slower pairs.

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  • #139
  • Jun 27, 2024 9:32pm Jun 27, 2024 9:32pm
Quoting RoboSeer
6E (EUR/USD Futures) M5 from 8AM-5PM EST (7 winners/0 loser with R:R 1:1) with RSI filter and without filtering for ATR: {image}
Don’t change if it’s working for you, but are these technically correct trades as per system recommendations?
As I said, don’t change.. winners are grinners
  • #140
  • Jun 28, 2024 3:55am Jun 28, 2024 3:55am
Quoting RoboSeer
6E (EUR/USD Futures) M5 from 8AM-5PM EST (7 winners/0 loser with R:R 1:1) with RSI filter and without filtering for ATR: {image}
Good job! what is your RSI filter setting and rules? Thanks
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