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Scalping Technique Made Easy

  • #161
  • Aug 6, 2007 9:33am Aug 6, 2007 9:33am
Well I agree with you zunk. If you want to check a real manual trading method using HA. Search for randy candles at TSD. The guy started to teach us here but bagovino and steinz were ignorant and rude so he left. Quite right too this forum is getting a name for itself by chasing away REAL traders in favour of demo account villiage idiots like bagovino.
  • #162
  • Aug 6, 2007 9:51am Aug 6, 2007 9:51am
Quoting cryten
Well I agree with you zunk. If you want to check a real manual trading method using HA. Search for randy candles at TSD. The guy started to teach us here but bagovino and steinz were ignorant and rude so he left. Quite right too this forum is getting a name for itself by chasing away REAL traders in favour of demo account villiage idiots like bagovino.
I think that was what amaruenterprise recommended me to check out also. Maybe I will. Thank you, both.
  • #163
  • Aug 6, 2007 11:28am Aug 6, 2007 11:28am
Zunk I've not forgot about you buddy. I've had a few unforseen things come up and I have to take care of business but I will give you an answer on what you want to know and if I can't I will find out...in the meantime check those randycandles out. very good method another one I use as well.....
  • #164
  • Aug 6, 2007 12:43pm Aug 6, 2007 12:43pm
a) this thread is all about a scalping method, specifically Steinitz's, right? Although I am only 2 weeks old in this, my understanding is that Steinitz's version 2.2 upwards is exactly that - the scalping method. Putting this together, why would this thread then not be about the pros and cons of using the EA?

b) I am in pm-communication with George (WHTenn), and as he has said on this thread a few times and in the pm's as well, he is using the scalping EA (1.set) with some modifications (e.g. a 12-pip TP), and doing very well with those. That they are perhaps not reproducable by everybody could have any number of reasons, but asking George to explain this may be a tad unfair

c) if one reads the other threads and also on other forums, it is quite clear that many people have had serious issues with the EA over the last 2 weeks - from what I can gather, mostly to do with the large drawdowns that the price/market is currently causing. It is homework/experimentation time for everybody using the method. Everybody must draw their own conclusions, and decide whether or not this works for them. There is no holy grail and get-rich-quick method
  • #165
  • Aug 6, 2007 5:41pm Aug 6, 2007 5:41pm
Quoting gifog
c) if one reads the other threads and also on other forums, it is quite clear that many people have had serious issues with the EA over the last 2 weeks - from what I can gather, mostly to do with the large drawdowns that the price/market is currently causing. It is homework/experimentation time for everybody using the method. Everybody must draw their own conclusions, and decide whether or not this works for them. There is no holy grail and get-rich-quick method
Your exactly right, good post.....
  • #166
  • Aug 6, 2007 11:38pm Aug 6, 2007 11:38pm
Hello zunk,
Looking back on these particular trades I can't remember the settings I had at the time; I've changed several times without making any notes at the present I've got a sort of a hedge setup going on. Look man I know that isn't what you want to hear but that is the truth. If you ask something within the past week or so I can explain to you but all that I can give you now is I have some of the trades as WHTENN and there is some I do not have. I apologize to you. If your interested try and trade it manually if it works out for yu then think about the ea. Dude I apologize I thought I could give an explination please accept my apology. If you ask now I shall be ready......
  • #167
  • Aug 7, 2007 4:44am Aug 7, 2007 4:44am
It's no problem. No apology needed. We have clearified it's the work of the EA, not the manual original HAS method that's being taught to people in this thread. It's cool.

WHTenn: Next time please clarify it's the EA your praises are based upon. (in this case an EA that has nothing (?) to do with the method this thread actually is about, maybe about the method the system has come to be. But that's not taught in here anyway..)

Sorry for my upset behaviour.

Peace
  • #168
  • Aug 7, 2007 7:20am Aug 7, 2007 7:20am
Quoting WHTenn
Dear zunk,

I do admit that I trade larger than most people on these forums but that should make no difference on if you believe me or not in respect to my statements that I post.

George
Anyone considering getting involved in the development of this EA really should read the original thread that started here at FF. The last line in the last post of that thread (posted by this forum's administrator), summarises the situtaion perfectly.

"i now see you have turned this into a commercial venture over at forex-tsd. good luck with your swindle, sir."

Therefore, in the circumstances, its important that any claims made about the performance of this EA here at Forex Factory are absolutely beyond reproach.

The statements that you've posted on this site seam to indicate that your trading extremely SMALL position sizes, not large as you repeatedly claim. For anyone who doubts this, simply check the amount of swap he's paying. It would be hard to trade a smaller lot size !

In the circumstances one really has to ask are the statements posted by you here at FF an accurate indication of a trader managing large positions using the Steintz EA as you are cleaiming ?.

Everyone needs to determine the answer themselves, by checking those statements, but on the basis of the evidence that you've provided, I would say clearly not.

Simply posting details of closed trades, whilst neglecting to report equity on open positions is also highly misleading.
  • #169
  • Edited 10:53am Aug 7, 2007 10:52am | Edited 10:53am
Quoting Razzle
The statements that you've posted on this site seam to indicate that your trading extremely SMALL position sizes, not large as you repeatedly claim. For anyone who doubts this, simply check the amount of swap he's paying. It would be hard to trade a smaller lot size !

In the circumstances one really has to ask are the statements posted by you here at FF an accurate indication of a trader managing large positions using the Steintz EA as you are cleaiming ?
Did I miss something? WHTenn on post 125 said: 'I was looking for a small number. I am experimenting to see if I can get small rapid trades while others are waiting for the large 50-80 pips that can take days to obtain. 16 trades in 15 hours was a good day. It is not the pips that makes you money, it is the lots.Why 12... I really can't answer why this number.'.
  • #170
  • Aug 7, 2007 11:02am Aug 7, 2007 11:02am
Quoting zunk
....in this case an EA that has nothing (?) to do with the method this thread actually is about....
My understanding is that the EA = V2.31 (perhaps even 2.2, not sure), and that 2.31 is the Steinitz scalping method (hence the thread name). But, from what I can gather, WHTenn does not religiously stick to the EA's defaults, but uses his discretion and professional experience when required (e.g. by setting the input parameters of the EA differently to the default). Correct, WHTenn? Hence also my previous post re 12pips TP per trade.
  • #171
  • Aug 7, 2007 2:22pm Aug 7, 2007 2:22pm
Quoting gifog
It is not the pips that makes you money, it is the lots.
Yes, thats another statement made by WHTenn, in support of using the EA to scalp for small targets. You have to admit, it dosnt make much sense, 10 pips at 1 lot, or 100 pips on 0.1 lot, or 50 pips at 0.2 lots all account to the same $ profit.

Now ask yourself the question, how much swap you would pay or earn per day trading 0.01 lots, 0.1 lots, 1 lot, 10 lots, 100 lots ?, if you dont know, then look it up. Then check WHTenn's earlier statement, look how much swap he earns and pays.

We have a trader claiming to be trading large position size, yet his statements dont verify this to be the case at all.

Either WHTenns statement isnt correct (and if the swap values are wrong, what else is wrong), OR his claim of trading large lot sizes simply isnt true.

Its quite strightforward, hardly rocket science
  • #172
  • Aug 7, 2007 2:36pm Aug 7, 2007 2:36pm
Quoting Razzle
Yes, thats another statement made by WHTenn, in support of using the EA to scalp for small targets. You have to admit, it dosnt make much sense, 10 pips at 1 lot, or 100 pips on 0.1 lot, or 50 pips at 0.2 lots all account to the same $ profit.

Now ask yourself the question, how much swap you would pay or earn per day trading 0.01 lots, 0.1 lots, 1 lot, 10 lots, 100 lots ?, if you dont know, then look it up. Then check WHTenn's earlier statement, look how much swap he earns and pays.

We have a trader claiming to be trading large position size, yet his statements dont verify this to be the case at all.

Either WHTenns statement isnt correct (and if the swap values are wrong, what else is wrong), OR his claim of trading large lot sizes simply isnt true.

Its quite strightforward, hardly rocket science
Hello Razzle,
I see what your saying but did you take into consideration that WHTENN may be trading a micro account on this ea and uses larger position size on his manual trades ? That is what I do. Just an observation.....
  • #173
  • Edited 4:36pm Aug 7, 2007 4:25pm | Edited 4:36pm
Quoting amaruenterprise
Hello Razzle,
I see what your saying but did you take into consideration that WHTENN may be trading a micro account on this ea and uses larger position size on his manual trades ? That is what I do. Just an observation.....
Yes I considered that, and I expected that to be WHTenns response. However, it does seam rather strange that he'd take the the time and trouble to erase the lot size and profit and loss data from the statement, why not just leave the information for all to see ?

If he's using the EA just for signals, why not just use a demo ?

And then of course we have WHTenns own statement on Forex TSD, "This trading period was with EA only. No manually trading was done this past week. I would think that trading such manually would be too much trouble to attempt."

just an observation :-)
  • #174
  • Aug 7, 2007 4:30pm Aug 7, 2007 4:30pm
And why don't tell us about his manual achievments instead of some EA that this threads not even about.. (OR, as I said before, an EA which is obviously (acording to the pics I posted) not (any more) similar to the method thats being educated in this thread)
  • #175
  • Aug 7, 2007 6:27pm Aug 7, 2007 6:27pm
Quoting zunk
And why don't tell us about his manual achievments instead of some EA that this threads not even about.. (OR, as I said before, an EA which is obviously (acording to the pics I posted) not (any more) similar to the method thats being educated in this thread)
If I'm not mistaken I believe he has. Speaking for myself I think anyone that posts their statement is being very courtious because I don't think it is anybody business about your financle situation. Where I come from a man's word means everything; not all people are honest but instead of bashing someone ( if you want to call it that, may be a little harsh) to me is senseless it doesn't accomplish nothing IMO. If you see an interesting system test it and if it doesn't work try something else. It may work for some and may not you. But I'm pretty sure if you go back to some of the other threads WHTENN talks about the manual system. Have a good one guys....
  • #176
  • Aug 7, 2007 7:09pm Aug 7, 2007 7:09pm
The reason it gets bashed is because people are getting ripped off.
The breaking of a wave cannot explain the whole sea.
  • #177
  • Aug 7, 2007 7:32pm Aug 7, 2007 7:32pm
Quoting Craig
The reason it gets bashed is because people are getting ripped off.
How can you get ripped off if you manually trade it first? Just like with anything else you try it first to see if it works for you. If you ran out and bought the ea and it didn't work for you well then I would think that would be neglegence on your part for not manually. I realize there are alot of con people out there just waiting to take your money. Speaking for myself I'm satisfied with it. I tested the manual version live with a micro-account and I got a feel for it and do real well with it and I still trade the manual version on my larger account along with some other systems I use. Then I got the ea and I've got it set up on the micro account done well with it until a week or so ago and had a big DD but I've made some changes that I'm trying and seems to be doing rather well ( at least IMO). If it continues then I will share the settings with everyone but by that time they will have the new version of it out. Buut anywho I wish you well.....
  • #178
  • Aug 7, 2007 8:09pm Aug 7, 2007 8:09pm
I smell a rat! Although I don't trade this method I've followed the thread with interest and to my surprise I've received an unsolicited PM from WHTenn inviting me to look at this system. I have referred to the website he has directed me to and discovered that he is promoting an EA for $50. I don't think you will get too rich selling $50 EA's but I suppose it could be a carrot to get you involved and then some serious expenditure could follow.Alternatively he could be showing genuine concern and trying to help people out of the kindness of his heart.What does every body else think?
  • #179
  • Edited 10:29pm Aug 7, 2007 10:18pm | Edited 10:29pm
Quoting edge540
I smell a rat! Although I don't trade this method I've followed the thread with interest and to my surprise I've received an unsolicited PM from WHTenn inviting me to look at this system. I have referred to the website he has directed me to and discovered that he is promoting an EA for $50. I don't think you will get too rich selling $50 EA's but I suppose it could be a carrot to get you involved and then some serious expenditure could follow.Alternatively he could be showing genuine concern and trying to help people out of the kindness of his heart.What does every body else think?

It's really a shame that people think there's always something behind sincere attempts to help new traders out.

Good pips to you
  • #180
  • Aug 7, 2007 10:20pm Aug 7, 2007 10:20pm
Quoting Craig
The reason it gets bashed is because people are getting ripped off.
Hello Craig

Can you explain your drive-by statement how people are being ripped off paying $50 to help develop an extremely worthwhile EA that Don has spent nearly one half year developing?

I for one has been making money with this ever since I bought this and have made my money back times a hundred.

Thanks in advance
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