Scalping Technique Made Easy | Page 4 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Scalperzmania Scalping Technique (Inverted) from Malaysia 95 replies

Fibonacci Scalping Technique 7 replies

1M & 5M Scalping System (Scalping Paradise) 21 replies

Easy scalping 37 replies

Easy and profitable IB Scalping 5 replies

Attachments: Scalping Technique Made Easy
Exit Attachments

Scalping Technique Made Easy

  • #61
  • Jul 8, 2007 7:39pm Jul 8, 2007 7:39pm
Quoting lastchance
Thanks for the answer Mr. Steinitz, that was my thinking but wanted to clarify. I have more questions to come but later , thank you for your time .
Anytime my freind!

Don
  • #62
  • Jul 8, 2007 7:45pm Jul 8, 2007 7:45pm

ENTRY



I was looking to go slow on this and let people ask questions first. I don't see a a lot of responses.

However, in the interest to move quicker I will give you the manual version here.

1. Start with the highest TF that you are looking to trade. If your highest Tf is the daily for example take note of the color of the HAS indicator and MTF HAS bars. If the daily closed bar is blue then you are looking to trade LONG.

2. Step down one TF at a time on the Metatrader4 platform until you see the first RED candle. This should be a CLOSED candle only. This is called the "Alert TF". I will be referring to this a lot.

3. Now I want you to move down one more TF lower to the "Entry TF". This TF should also have a RED candle. It should be closed as well.

4. You now wait for this TF to turn to a BLUE candle. This candle can be unclosed to enter. The reason we are on this TF for an entry is because we are counter trading and do not want to enter late. This TF affords us a more sensitive reaction to price for entry.

----------------------------------------------------------------

EXITS



1. Each TF that you found as an alert TF has it's own unique take profit. You need to decide what TP you have as an exit before hand for every Alert TF. Here is what the EA has and I recommend that you follow this closely but it is not in stone.

1. Weekly = 100 pips
2. Daily = 60
3. 4Hr = 30
4. 1Hr = 25
5. 30M = 20
6. 15M = 15
5. 5M = 8
6. 1M = 5

So that would be your guide to set your TP targets. I have much more fine points to discuss but lets see if you guys understand this so far.

  • #63
  • Jul 8, 2007 7:49pm Jul 8, 2007 7:49pm
I am attaching some weekly images that you can look at to give you some additional visual representations to help assist you in the learning of this method.

Again I am here to answer your questions regardless how they may seem.

Don
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBP USD 4HR TF LONG.jpg Size: 43 KB
Click to Enlarge Name: GBP USD 1HR TF LONG.jpg Size: 44 KB
Click to Enlarge Name: GBP USD 4HR TF SHORT.jpg Size: 45 KB
Click to Enlarge Name: GBP USD 1HR TF SHORT.jpg Size: 47 KB
  • #64
  • Jul 8, 2007 9:28pm Jul 8, 2007 9:28pm
Nice to see your return. Keep posting and explaining. GREAT JOB DON.
  • #65
  • Jul 8, 2007 9:49pm Jul 8, 2007 9:49pm
Quoting steinitz
Again I am here to answer your questions regardless how they may seem.
Don
Here's a question.
Do the UPPER and LOWER A and B HAS refer to using
them on specific longer and shorter TF's or something?
Sorry to ask if this was already mentioned.

For the chart setup that I posted earlier I just put the
Lower A on the chart first. Then, I put the Lower B
"inside" of the A by dragging it there from the navigator.
Is that it? Seems to work fine like that!

Yes, let's fire up this thread!
Many Thanks!

FXS
  • #66
  • Jul 8, 2007 10:12pm Jul 8, 2007 10:12pm
[quote=FXSurfer;1488894]Here's a question.
Do the UPPER and LOWER A and B HAS refer to using
them on specific longer and shorter TF's or something?
Sorry to ask if this was already mentioned.

The lower A & B give you 1M to 30M or 5M to 1Hr

The Upper A & B give you 1Hr to week or 4Hr to month

For the chart setup that I posted earlier I just put the
Lower A on the chart first. Then, I put the Lower B
"inside" of the A by dragging it there from the navigator.
Is that it? Seems to work fine like that!

You need to drag and drop the upper A & B FIRST on top of each other THEN

You need to drag and drop the lower A & B SECOND on top of each other

You want to see TF's ascend from lower to higher starting at the bottom of screen.

Don

Yes, let's fire up this thread!
Many Thanks!

FXS
  • #67
  • Jul 8, 2007 11:02pm Jul 8, 2007 11:02pm
[quote=steinitz;1488910]
Quoting FXSurfer
Here's a question.
Do the UPPER and LOWER A and B HAS refer to using
them on specific longer and shorter TF's or something?
Sorry to ask if this was already mentioned.

The lower A & B give you 1M to 30M or 5M to 1Hr

The Upper A & B give you 1Hr to week or 4Hr to month

For the chart setup that I posted earlier I just put the
Lower A on the chart first. Then, I put the Lower B
"inside" of the A by dragging it there from the navigator.
Is that it? Seems to work fine like that!

You need to drag and drop the upper A & B FIRST on top of each other THEN

You need to drag and drop the lower A & B SECOND on top of each other

You want to see TF's ascend from lower to higher starting at the bottom of screen.

Don

Yes, let's fire up this thread!
Many Thanks!

FXS
Looks great, Don!
This look right?
THANKS!

FXS
Attached Image
  • #68
  • Jul 9, 2007 12:18am Jul 9, 2007 12:18am
[quote=FXSurfer;1488931]
Quoting steinitz

Looks great, Don!
This look right?
THANKS!

FXS

Yes it is perfect.
  • #69
  • Jul 9, 2007 12:31am Jul 9, 2007 12:31am
I like this method but unfortunately I have a charting package that doesn't allow for some of your indicators,but I can plot the HAS chart,underneath the candle stick chart. My question is,can I still trade your method just off the standard HAS charts for the various time frames?I've read the thread several times and correct me if I'm wrong,you are basically trading the long term trend and using shorter term charts for entries.
Thanks.
  • #70
  • Jul 9, 2007 12:59am Jul 9, 2007 12:59am
Quoting edge540
I like this method but unfortunately I have a charting package that doesn't allow for some of your indicators,but I can plot the HAS chart,underneath the candle stick chart. My question is,can I still trade your method just off the standard HAS charts for the various time frames?I've read the thread several times and correct me if I'm wrong,you are basically trading the long term trend and using shorter term charts for entries.
Thanks.
As long as you are using the HAS indicator with the smoothing code and settings I would say yes. If you aren't using the HAS indicator the way it's coded now I wouldn't know what you are looking at.

Yes I am looking at the highest TF that I want to start at. I like the monthly. It lets me trade the weekly on down to even 1 minute.

Don
  • #71
  • Jul 9, 2007 8:26am Jul 9, 2007 8:26am
Hi Don

What is your own favourite highest time frame which you use for your trades?
Is the highest TF the actual trades TF or is the Alert TF the actual trades TF?

Also what initial stops do you use for each Alert TFs?
Regards
  • #72
  • Jul 9, 2007 12:04pm Jul 9, 2007 12:04pm
Quoting howard
Hi Don

What is your own favourite highest time frame which you use for your trades?
Is the highest TF the actual trades TF or is the Alert TF the actual trades TF?

Also what initial stops do you use for each Alert TFs?
I personally use the monthly TF since it gives my all possible signals with a wide range of TP targets.

The alert TF = the TF that was found as the first counter trend from the top working downwards.

Don
  • #73
  • Jul 10, 2007 1:45pm Jul 10, 2007 1:45pm
Hi all,

I'd like to know if anyone has created or modified the Heiken smoothed alert to send emails. I've tried to modify it but having difficulty understanding how to do it. Any help would be greatly appreciated. Thank you.
Attached File(s)
File Type: mq4 Heiken_Ashi_Smoothed.mq4   4 KB | 644 downloads
  • #74
  • Jul 11, 2007 9:50am Jul 11, 2007 9:50am
I'm really keen to try this method because people keep telling me how good it is but although I've downloaded the template and I can see it sitting in my MT4 :C Programmes template file I can't get it into the platform itself. As this post indicates I'm pretty useless with computers ...can anyone give me a clue as to how to finish the job please ?

Thanks
  • #75
  • Jul 11, 2007 11:34am Jul 11, 2007 11:34am
Quoting bundubill
I'm really keen to try this method because people keep telling me how good it is but although I've downloaded the template and I can see it sitting in my MT4 :C Programmes template file I can't get it into the platform itself. As this post indicates I'm pretty useless with computers ...can anyone give me a clue as to how to finish the job please ?

Thanks
Hello B!
I'm not too great with the hi-tech stuff either. But, hey we can learn!

Try going to post 47 and getting the MQ4's listed.

Then go to posts 66-67 and see how Stein says how to set up your
chart.


FXS
  • #76
  • Jul 11, 2007 11:36am Jul 11, 2007 11:36am
Quoting bundubill
I'm really keen to try this method because people keep telling me how good it is but although I've downloaded the template and I can see it sitting in my MT4 :C Programmes template file I can't get it into the platform itself. As this post indicates I'm pretty useless with computers ...can anyone give me a clue as to how to finish the job please ?

Thanks
save the template to the following folder:

C:>Program files>MT4>Templates
Regards
  • #77
  • Jul 12, 2007 2:55am Jul 12, 2007 2:55am
Quoting howard
save the template to the following folder:

C:>Program files>MT4>Templates
Hi Howard, thanks for replying,I have done this and I can see it there when I open the templates folder but for some reason it is not transferring to the templates box on the platform
  • #78
  • Jul 12, 2007 3:45am Jul 12, 2007 3:45am
Quoting FXSurfer
Hello B!
I'm not too great with the hi-tech stuff either. But, hey we can learn!

Try going to post 47 and getting the MQ4's listed.

Then go to posts 66-67 and see how Stein says how to set up your
chart.


FXS
Thanks FX, I missed your post. I will try that right now.
  • #79
  • Jul 12, 2007 6:48am Jul 12, 2007 6:48am
WOW...over 450 in last 4 days. Very impressive system. Thanks for the great support Don!

  • #80
  • Jul 12, 2007 6:16pm Jul 12, 2007 6:16pm
steinitz:

Hmmmm, interesting stuff here. I've been looking, creating, thinking...lot's of 'ings' for a scalping method that takes very little time to decide which way to go and I like the visuals on the charts. I spend the majority of my time on FF with Phillip Nel's 4 hour MACD method for longer term trades and I may be stopping by here for the quicker entries and exits. Going to start at the beginning here before it gets too loooonnnnnng.

WHTenn:

I believe you were 'dormant' for a little while here on FF. I tried to send you a PM to thank you with all of the help concerning why I couldn't get MT4 to send the email alerts. Remember that one??? Either way, it was my VirusScan that was specifically blocking port:25. I wanted to thank you for all of your help. So, thanks for all the help. Looks like this method has been doing well for you...
0 traders viewing now