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  • #81
  • Nov 27, 2007 1:45am Nov 27, 2007 1:45am
Quoting thunderwolf
Hello Umairs,

Do you trade your scalping system on a live account and if you do what is your spread on the Gbp/Jpy ? Thanks ....T-Wolf
Im not a scalper im a day trader with both mini and standard account but i have introduced my scalping method only maybe it helps some one but i did lot of small scalp trades with my mini account and with 5-mini lots means $5 per pip targeting 3/5 pips per scalp trade and im using fxcm with 7-pip spread on G/J But its a much volatile pair tht even on 1-mints it gives me 2/3 pips coz im not using any ECN....well u may find lot of chances in day to enter but it dosent means to enter on all signals coz my averge scalping trades per day is 4/5 sometimes 6/7 depending on market and best time to scalp is US Or 5-gmt....now see lot of valid signals of G/J one mints but i may enter in 1/2 but not in all...although signals are very goood too ...
  • #82
  • Nov 27, 2007 2:01am Nov 27, 2007 2:01am
Quoting Iqtrading
the 144 is a magical number for me... i've it in several other techniques and works well for me, psychological background...

if the RSI>144WMA and WMA pointing up = good for longs if both above 50 high probability setup, and viceversa...

I don't want to force anybody to change the method, but for me it seems look better, and anyway the KISS is nevertheless given...

And another thing, what somebody told me...

Don't waste too much time on thinking how some things work, get intuitive and trade what you see objective...

lets make some money, i think that is the point which we should marked RED out...
OK thx...
So,
if you get the long signal, but the RSI's below the 144WMA, you won't open the long trade?

BTW,
I will try to use this system for 5 min On the Yen pair(s)...
I hope This system can give more green pips
Wish me luck...


WisBiz
  • #83
  • Nov 27, 2007 2:11am Nov 27, 2007 2:11am
Quoting WisBiz
OK thx...
So,
if you get the long signal, but the RSI's below the 144WMA, you won't open the long trade?

BTW,
I will try to use this system for 5 min On the Yen pair(s)...
I hope This system can give more green pips
Wish me luck...


WisBiz
don't wish and hope... KNOW... take a little bit of time to follow only the price, screentime, so u get an intuitive feeling for that what u see... Don't think about what u see... because if u think u see what u want to see...

u must be like a robot, signal, click, grab pips, click, green PnL

i think the most failure we do is to think what happends when this happends and what when this and this could be happen because this is there and this is there... u know what i mean...

write down ur rules, read it and re-read it, so that u can close ur eyes and know what to do if u see that the 10 MA is crossing the RSI and the Psar is changing... then on ur own rules enter exit, if u want to catch 3 pips, exit after 3 pips, don't be greedy, market will give u many opportunities to grab some if u be disciplined...

Thats the thing what i'm doing now, because tested it, see this and see this, my head piss me off... false entry market turns in other direction stopped out... Why? because i let my head analyze something, 1 min is to fast to think about... just in this moment market moves... no trade because i'm writing now...
  • #84
  • Nov 27, 2007 2:15am Nov 27, 2007 2:15am
Quoting Umairs2004
Im not a scalper im a day trader with both mini and standard account but i have introduced my scalping method only maybe it helps some one but i did lot of small scalp trades with my mini account and with 5-mini lots means $5 per pip targeting 3/5 pips per scalp trade and im using fxcm with 7-pip spread on G/J But its a much volatile pair tht even on 1-mints it gives me 2/3 pips coz im not using any ECN....well u may find lot of chances in day to enter but it dosent means to enter on all signals coz my averge scalping trades per day is 4/5 sometimes 6/7 depending on market and best time to scalp is US Or 5-gmt....now see lot of valid signals of G/J one mints but i may enter in 1/2 but not in all...although signals are very goood too ...
Thank you Umairs for your explanation, you have a very nice simple system here. I'm working on some ideas that may help this system as far as taking trades that are with the trend on a higher time frame, but what you've done so far is very good work!! ....T-Wolf As I'm typing I'm up 47 pips on Gbp/Jpy entered at 224.07 short ....Can't Complain !!
  • #85
  • Nov 27, 2007 2:17am Nov 27, 2007 2:17am
See G/J Screenshot in detail on 1-Mints chart as i have pointed all in detail before bouncing back to exit ...all u need is to be quick...
Attached Image (click to enlarge)
Click to Enlarge Name: G.J 1MINTS.JPG Size: 195 KB
  • #86
  • Nov 27, 2007 2:22am Nov 27, 2007 2:22am
Quoting WisBiz
OK thx...
So,
if you get the long signal, but the RSI's below the 144WMA, you won't open the long trade?

BTW,
I will try to use this system for 5 min On the Yen pair(s)...
I hope This system can give more green pips
Wish me luck...


WisBiz
You can use it on all JPY With 5-mints chart but watchout on 5-mints movements is so fast sometimes specially on G/J....it may moves even +20/30 pips with in 5-mints....first practice hard on demo...thts y i recommed all to tradde on 1-mints with volatile and 5-mints with non volatile
  • #87
  • Nov 27, 2007 2:51am Nov 27, 2007 2:51am
To ALL

Thx for the advice...
I will learn this system,
and not to hurried to use this system with the real money...


Now, it's time to shoot out the Japanese,
http://kolobok.us/smiles/light_skin/hunter.gif
And learn/study from the result...


WisBiz
The FX noobs
  • #88
  • Nov 27, 2007 3:18am Nov 27, 2007 3:18am
Quoting WisBiz
To ALL

Thx for the advice...
I will learn this system,
and not to hurried to use this system with the real money...


Now, it's time to shoot out the Japanese,
http://kolobok.us/smiles/light_skin/hunter.gif
And learn/study from the result...


WisBiz
The FX noobs
You better try to use this system on 5 minutes chart with non volatile pairs but also you can use it on USD.JPY See its 5 minutes chart but i think scalping on one minutes chart need lot of practice specially on All JPY also you need to be quick with your active sences read Umairs thread what he says
Secret...? "I Love The World Love "
  • #89
  • Edited 8:09am Nov 27, 2007 7:56am | Edited 8:09am
EURO.JPY gives me lot of scalps today umair you was right US is the best time to scalp also now news is coming so i just close EURO.JPY one mints chart position very goood scalp trades i did...Even gbd.jpy 1-minute also looking good but focused only on euro.jpy 1-minute
Secret...? "I Love The World Love "
  • #90
  • Nov 27, 2007 9:56am Nov 27, 2007 9:56am
hey guys anyone scalping right now?
BK
  • #91
  • Nov 27, 2007 10:00am Nov 27, 2007 10:00am
Quoting bksujal
hey guys anyone scalping right now?
BK
I'm in right now, returned from breakfast and lost the current big movement of E/J, but the day is long

How are you doing?
Ado Whether you believe you can do a thing or not, you are right.
  • #92
  • Nov 27, 2007 10:04am Nov 27, 2007 10:04am
I just got some quick pips on G/J 1-mints short
  • #93
  • Nov 27, 2007 10:07am Nov 27, 2007 10:07am
This is the best time for scalping from last couple of hours but alert now news is coming after tht u may....do scalps
  • #94
  • Nov 27, 2007 10:15am Nov 27, 2007 10:15am
Boogieman I'm just a bit confused about the chart on post #85....

Seems that you are counting the pip moves from the start of each signal candle and not the close, the counting the close at the start of each close candle and not the end.

It makes a huge difference.

So, just correct me if I am wrong here. No attack on my part, just want to see where you are coming from.

Quoting Umairs2004
See G/J Screenshot in detail on 1-Mints chart as i have pointed all in detail before bouncing back to exit ...all u need is to be quick...
  • #95
  • Nov 27, 2007 10:18am Nov 27, 2007 10:18am
Umairs, with your latest screen shot on post #84 are those the pips you have gotten on each trade or are you shooting for 3-5 pips and getting out? It seems you have taken a trade on every cross of the rsi and ma. I also do not see any losing trades.
  • #96
  • Nov 27, 2007 10:19am Nov 27, 2007 10:19am
Quoting Ado
I'm in right now, returned from breakfast and lost the current big movement of E/J, but the day is long

How are you doing?
Oh mate i have lost my last 2 trades on demo on g/j well im in short saw rsi and ma cross on 5M chart.
BK
  • #97
  • Nov 27, 2007 10:25am Nov 27, 2007 10:25am
Quoting jd442
Umairs, with your latest screen shot on post #84 are those the pips you have gotten on each trade or are you shooting for 3-5 pips and getting out? It seems you have taken a trade on every cross of the rsi and ma. I also do not see any losing trades.
Nopp!!!
never i just tried to showed apportunities to enter my target pips per scalp trade 2/3 pips ....see my previous post in which i have mentioned tht u may find lot of chances to enter but tht dosent means to enter in all signals...
  • #98
  • Nov 27, 2007 10:42am Nov 27, 2007 10:42am
Quoting tdion
Boogieman I'm just a bit confused about the chart on post #85....

Seems that you are counting the pip moves from the start of each signal candle and not the close, the counting the close at the start of each close candle and not the end.

It makes a huge difference.

So, just correct me if I am wrong here. No attack on my part, just want to see where you are coming from.
Hahahaha if already psar dots or below for example and candle goes down and even collides that psar dot then it appears above in a same candle coz of its different settings and then if rsi already crossed ma then i preffer to enter otherwise wait for rsi to cross ma and about my counting i starts counting from entry point and i count maximum pips before bouncing back to exit level...even i have mentiond also in a screenshots....
Attached Image (click to enlarge)
Click to Enlarge Name: eg.JPG Size: 104 KB
  • #99
  • Nov 27, 2007 10:58am Nov 27, 2007 10:58am
Hey umairs i was wondering if you take most of your trades when the indicators line up or do you wait for trend confirmation as well on 5 min, 15 min etc or is it discretionary?

thanks!
  • #100
  • Nov 27, 2007 10:59am Nov 27, 2007 10:59am
hey umair how do you trade on the 1M chart? Do you wait for the crossover of rsi and MA or do you assume that a crossover is gonna happen?
BK
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