Auslanco - GBP/JPY and GBP/USD (newstrade)

Quoting vinesh2

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Q, are there any specific settings that I need to change or just leave it as is

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Quoting dagoods

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for downside it ahs to pass through karmos fib at 210.4 first though

check out my post q in demark thread its really cool! DeMark Indicators (ADVANCED) - Page 11

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Quoting quecee5

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This is good stuff. I love Demark indicator it seems fairly soild. Have to read this book though. I also, checked out your post, seems you are everywhere learning and that's a good thing. . .

Check out this book on fibonacci this is where all these numbers come from, fib, pivots, ma, ea, linear regression, cucumbers, tomatoes, taco salad, pork chops and everything else, hell I must be hungry. . . anyway, this is the reason I use 5, 8, 13, 21, 34, 55, 89, 144 and so on and so forth. . . Instead of 50, 100, 200, etc. . . I try to use fibonacci number because it is so reliable. . . Anyway the ebook is basic but you'll pull some buggets out of it.

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Quoting fish2007

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Hi Gents/Ladies,

Anyone here is master of scalping? If so can you point me in the direction of good scalping system. Much appreciated.

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Quoting dagoods

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THANKS Q! THIS IS GREAT!

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Quoting 4x_Trader

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Buy stop @ 214.02; target 50 pips (214.52) sl: 213.70
sell stop @ 211.80; target 50 pips (211.30) sl: 212.25

This is what the market tells me let us see how it goes....

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Quoting fish2007

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Hi Gents/Ladies,

Anyone here is master of scalping? If so can you point me in the direction of good scalping system. Much appreciated.

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Quoting arezab

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Yes bro, I'm master of scalping no just kidding ... I use Bollinger bands (default setting) and RSI (14). Nothing works better than this combination.

Easy and simple without need of such exotic indicators cluttering your chart.
Just try it, I'm sure you will find it the most profitable system for scalping. It gives you the actual up or down movement. You know what I mean. If you use other indicators like QQE or Stochastic or ... they give you sometimes false signals ... like when there is a reversal wedge forming ... qqe can give you false signal in this case. I've already tried that including many other indicators.

With RSI you will have the right signal. If RSI rises above 50 and price crosses bollinger middle line then it is a long signal and vice versa for short trades.

Try it for some time and tell me what do you feel about this system.

cheers.

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Quoting arezab

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Yes bro, I'm master of scalping no just kidding ... I use Bollinger bands (default setting) and RSI (14). Nothing works better than this combination.

Easy and simple without need of such exotic indicators cluttering your chart.
Just try it, I'm sure you will find it the most profitable system for scalping. It gives you the actual up or down movement. You know what I mean. If you use other indicators like QQE or Stochastic or ... they give you sometimes false signals ... like when there is a reversal wedge forming ... qqe can give you false signal in this case. I've already tried that including many other indicators.

With RSI you will have the right signal. If RSI rises above 50 and price crosses bollinger middle line then it is a long signal and vice versa for short trades.

Try it for some time and tell me what do you feel about this system.

cheers.

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Quoting fourxtrader

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What did Moses and Auslanco have in common.

Both had a following.... of extraordinary proportions.
Both performed miracles in their own right.
Both parted the sea... one with a staff and the other with a QQE.
Both climbed the mount to receive added wisdom from on high.
Both returned with the treasured commandments only to discover

idol worship...

of the golden calf and bollinger bands and RSI indicators.

lol

Dr. D.

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Quoting Hakuna Matata

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guys-- ya'all better be getting some rest !!

been a while ive logged on here--them old days

catch ya'all in the room fresh and enthusiastic nxt week

sleep well

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Quoting Ladybird

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Yes Aus made some good calls last week in his room.............

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Quoting dagoods

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nice little scalping system arezeb! i will try it out... do u have a special 1- mt4 indicator that has "middle" for bolliger band? also do u have 2- a specific rsi indicator, as i have seen amny of them? also 3- what time frame and 4- which pairs and 5- how much pips do u target? thanks for this

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Quoting arezab

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Hi dagoods

1- Use the attached one which has separate colors for bands and middle line, but I use "Laguerre Filter" as the middle line, I mean I make the middle line of BB invisible and put Laguerre filter (0.6 or 0.7 which one you think fits better) over it cuase it gives me smoother curves.

2- Use "RSI with Alert", it has alert setting to enable audible alerts when crossing 50 line but change the period from 21 (default) to 14... that is what I use.

3- 5M or Maximum 15M but I trade %90 of my trades on 5M using this system, it's more risky because of wide spread (mine is 8) but overall gives you more pips. Your losses will be limited to 30 to 40 points max.

4- I'm dedicated to the Beast only ... although I have an eye on GU and UJ in the matter of fib levels for support and resistance but I don't trade them.

5- Ah ... here comes it about experience using this system because most of times I don't have any specific predefined target. I just follow these indicators but most of times I exit the market based on multiple factors earlier, specially I always look after RSI divergences to close a trade earlier than for example waiting for RSI to crosses back 50 line. With this system I've a record of 920 pips in just one day but my normal range (if market is not sideways) 200 to 300 points per day.

You can use Stochastic (10,1,3) beside them but it is not so important it just help to determine divergences better but it cause also some confusions sometimes. Just RSI suffices.

My other tool is trend lines which helps me greatly to pass small and false signals i.e in an uptrend I ignore entering small retracements by using proper trend line. This is very powerful.

But let me tell you something. I trade Full Time. That means some days almost 19 hours screen time. Can you do that? I mean not everybody is capable to afford such a long time in front of his monitor. At weekends I just sleep and do absolutely nothing. I really mean it. So don't look at my 300 points per day as normal profit range for everybody who uses this method. If I trade part time, I would hardly get such a profits.

Let me add to it that you will have some losses too. Every system has loss but If you follow it, it will give you what you want in long term.

And something else ... I DON'T TRADE NEWS because it's 5M and so very risky at news time. I start to open position normally half an hour or one hour after news announcement.

Dagoods and Moneymanagement ask me about this. You are yourself masters and I've learned many things from you and also Queece5 about technicals. So I don't dare to claim to know anything special in your presence because you know most of points I mentioned about fibs, support and res, trendlines and ... I wanted to explain everything about this simple system for anyone who is interested and wants to try it. So excuse me if I spoke too much.

I'm studying Skunny's thread. People it's awesome. It is giving me a new look about market movements. I recommend it to everybody. I combine it with this method and it's giving me more confidence and less stress to trade , open and close positions. It works on 5M too and not necessarily only for 1H or 4H. Give it also a try ... just my thought.

This is not a scalping thread so excuse me everybody if I cluttered the page.

I've attached a picture which shows the way I traded this system on Dec 28th 2007 which gave me more than 300 points. I hope it helps.

The indicators are also attached.

Cheers

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Quoting arezab

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Hi dagoods

1- Use the attached one which has separate colors for bands and middle line, but I use "Laguerre Filter" as the middle line, I mean I make the middle line of BB invisible and put Laguerre filter (0.6 or 0.7 which one you think fits better) over it cuase it gives me smoother curves.

2- Use "RSI with Alert", it has alert setting to enable audible alerts when crossing 50 line but change the period from 21 (default) to 14... that is what I use.

3- 5M or Maximum 15M but I trade %90 of my trades on 5M using this system, it's more risky because of wide spread (mine is 8) but overall gives you more pips. Your losses will be limited to 30 to 40 points max.

4- I'm dedicated to the Beast only ... although I have an eye on GU and UJ in the matter of fib levels for support and resistance but I don't trade them.

5- Ah ... here comes it about experience using this system because most of times I don't have any specific predefined target. I just follow these indicators but most of times I exit the market based on multiple factors earlier, specially I always look after RSI divergences to close a trade earlier than for example waiting for RSI to crosses back 50 line. With this system I've a record of 920 pips in just one day but my normal range (if market is not sideways) 200 to 300 points per day.

You can use Stochastic (10,1,3) beside them but it is not so important it just help to determine divergences better but it cause also some confusions sometimes. Just RSI suffices.

My other tool is trend lines which helps me greatly to pass small and false signals i.e in an uptrend I ignore entering small retracements by using proper trend line. This is very powerful.

But let me tell you something. I trade Full Time. That means some days almost 19 hours screen time. Can you do that? I mean not everybody is capable to afford such a long time in front of his monitor. At weekends I just sleep and do absolutely nothing. I really mean it. So don't look at my 300 points per day as normal profit range for everybody who uses this method. If I trade part time, I would hardly get such a profits.

Let me add to it that you will have some losses too. Every system has loss but If you follow it, it will give you what you want in long term.

And something else ... I DON'T TRADE NEWS because it's 5M and so very risky at news time. I start to open position normally half an hour or one hour after news announcement.

Dagoods and Moneymanagement ask me about this. You are yourself masters and I've learned many things from you and also Queece5 about technicals. So I don't dare to claim to know anything special in your presence because you know most of points I mentioned about fibs, support and res, trendlines and ... I wanted to explain everything about this simple system for anyone who is interested and wants to try it. So excuse me if I spoke too much.

I'm studying Skunny's thread. People it's awesome. It is giving me a new look about market movements. I recommend it to everybody. I combine it with this method and it's giving me more confidence and less stress to trade , open and close positions. It works on 5M too and not necessarily only for 1H or 4H. Give it also a try ... just my thought.

This is not a scalping thread so excuse me everybody if I cluttered the page.

I've attached a picture which shows the way I traded this system on Dec 28th 2007 which gave me more than 300 points. I hope it helps.

The indicators are also attached.

Cheers

Ignored