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Strategy to take safe pips every day

  • #61
  • Nov 19, 2007 1:06pm Nov 19, 2007 1:06pm
this is my normal chart setup
Attached Image (click to enlarge)
Click to Enlarge Name: chartsetup.jpg Size: 211 KB
  • #62
  • Nov 19, 2007 1:13pm Nov 19, 2007 1:13pm
Ok toto i understood. thanks
  • #63
  • Nov 19, 2007 1:13pm Nov 19, 2007 1:13pm
here a nice entry in a H1 chart
Attached Image (click to enlarge)
Click to Enlarge Name: entry 1 hour.jpg Size: 188 KB
  • #64
  • Nov 19, 2007 1:16pm Nov 19, 2007 1:16pm
to all,

pls be patient and look for real nice entrys, the market is big enought and it gives so much chances a day, do not run after a missing trade, if u really follow the rules u all are able to take every day your pips with a small risk, so i hope u all will make some money with this strategie
  • #65
  • Nov 19, 2007 1:20pm Nov 19, 2007 1:20pm
what do you mean for "real nice entries"? an entry following only the rules?

i see that on 1h timeframe it works too and seems it works better
  • #66
  • Nov 19, 2007 1:57pm Nov 19, 2007 1:57pm
yes its true sometimes, i watch normaly the 5m but if there is nothing to do so i change the timeframes ;-)
  • #67
  • Nov 19, 2007 10:26pm Nov 19, 2007 10:26pm
Quoting toto4444
yes its true sometimes, i watch normaly the 5m but if there is nothing to do so i change the timeframes ;-)

so still the same EMA and entry rules ?

anyway, good to know it's still effective on other timeframes, especially longer ones........

isn't it proof that it's a good system if it works on both longer and shorter timeframes ? probably as it better reflects the market.........
  • #68
  • Nov 19, 2007 11:31pm Nov 19, 2007 11:31pm
I just got home from work and was not intending to trade. I was just setting up my layouts for this system when I noticed this set up on cable just before the London open. I thought I would give it a try. The stop was only 8 pips and the move was beginning to look exhausted, I thought the trade had no chance but look what happened - a winner!!
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Spot4.PNG Size: 20 KB
BTC Return This Year: na
  • #69
  • Edited 2:15am Nov 20, 2007 2:04am | Edited 2:15am
I swear I wasn't even trying - My son had a presentation at school ( I am a single dad) so I was flat out getting him organized. I was at the computer for 5 mins when these set ups occurred on EUR/USD and GBP/USD so i entered the trades and set my stop and limit and left. I was targeting 33 pips on cable and 20 pips on fibre which I thought would be a bit of a stretch. I couldn't believe it when I got home 2 hours later with 2 more winning trades. Thats a total of 58 pips for the day and added 7.5% to my account - from ten minutes work!!!!!! Thankyou Toto for your generous sharing
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSD Spot5.PNG Size: 21 KB
Click to Enlarge Name: EURUSD Spot1.PNG Size: 19 KB
BTC Return This Year: na
  • #70
  • Nov 20, 2007 2:09am Nov 20, 2007 2:09am
I want someone to explain better how to do a daily scalping using this 10 ema and 20 ema, i could see the reply of buddies that it works, i want someone to explain it better to me.
  • #71
  • Nov 20, 2007 2:54am Nov 20, 2007 2:54am
I could suggest to apply momentum indicator to the charts. It can say when a trend is near reversal or start
  • #72
  • Nov 20, 2007 3:03am Nov 20, 2007 3:03am
Quoting toto4444
this is my normal chart setup
These are pairs you trade with this system?
  • #73
  • Nov 20, 2007 3:32am Nov 20, 2007 3:32am
Tito4444,
I could see your graphs but i am yet to see your explanation. How can i understand when to enter the trade and when to exit?
  • #74
  • Nov 20, 2007 4:02am Nov 20, 2007 4:02am
Hi Uncle,

Just read the thread from the beginning and you should understand the entries, its a very simple and good system, basically you want a run of candles not touching the 10 ma, then a pullback candle(s), then enter on the break in the trend direction.
  • #75
  • Nov 20, 2007 4:09am Nov 20, 2007 4:09am
Quoting uncletrumpet
I want someone to explain better how to do a daily scalping using this 10 ema and 20 ema, i could see the reply of buddies that it works, i want someone to explain it better to me.
We are still trying to figure it out ourselves but I think ive got a bit of a handle on it. The tricky part is the exit. I prefer a pre determined target based on how many pips I am risking. If i try to trail a stop I will exit as soon as price comes back to my entry and end up with 1 pip - lol Toto manages the trade live and is very successful so hopefully we will hear more from him on this. Anyway here is a chart with the set up. follow the numbers. I hope this helps

edit one - scorpions post above me says it all
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD Spot2.PNG Size: 23 KB
BTC Return This Year: na
  • #76
  • Nov 20, 2007 5:28am Nov 20, 2007 5:28am
so both the trending candle and retracement candle must not touch the ema10 to be valid ?

and there's no limit to the number of retracement candles for the entry order to remain valid or is there a limit like 4 or less candles ?

many thanks.
  • #77
  • Nov 20, 2007 6:41am Nov 20, 2007 6:41am
Nice job Doug, thank you I think the chart doesn't left any doubt when to enter, and I think your exit rule is very acceptable, high probability trades with 1:1 risk reward; if at a time, the stop seems to be too large, it's always possible to just skip the trade and wait for the next one.
Ado Whether you believe you can do a thing or not, you are right.
  • #78
  • Nov 20, 2007 7:30am Nov 20, 2007 7:30am
Quoting M.A.C.Doug
We are still trying to figure it out ourselves but I think ive got a bit of a handle on it. The tricky part is the exit. I prefer a pre determined target based on how many pips I am risking. If i try to trail a stop I will exit as soon as price comes back to my entry and end up with 1 pip - lol Toto manages the trade live and is very successful so hopefully we will hear more from him on this. Anyway here is a chart with the set up. follow the numbers. I hope this helps

edit one - scorpions post above me says it all
M.A.C.

are you still risking 1:1 as in your previous post?? Great visual explanation..

great work! I mean with your kid..

generalz
  • #79
  • Nov 20, 2007 7:40am Nov 20, 2007 7:40am
thank u doug for those nice charts.... that are the perfekt entries... did someone try other timeframes to trade this strategie ?
  • #80
  • Nov 20, 2007 3:16pm Nov 20, 2007 3:16pm
Wow!

Finally a system that works! (especially if you follow the rules)

Had a great run today on the AUS/USD and the USC/CAD

Still playing with pennies but it's all good!

Thanks toto4444
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