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3/5 WMA very simple scalping

  • #1
  • First Post: Edited 5:18pm Feb 14, 2008 4:29pm | Edited 5:18pm
This system was inspired by linuxtroll and his rainbow system.
So what you need:
1.you need discipline
2.you need discipline
3.you need discipline

So what else do you need?
1.3 WMA
2.5 WMA
3.1H timeframe

And thats it! Everything else is explained on the screenshot (and its not much).Oh and one more thing - avoid the news.
Bulls Make Money, Bears Make Money, Pigs Get Slaughtered
  • #2
  • Edited 5:31pm Feb 14, 2008 5:15pm | Edited 5:31pm
Attached Image (click to enlarge)
Click to Enlarge Name: Clipboard01.jpg Size: 201 KB

If you have any questions - ask. And don`t forget to return some feedback.
Happy trading.
Bulls Make Money, Bears Make Money, Pigs Get Slaughtered
  • #3
  • Mar 4, 2008 2:12pm Mar 4, 2008 2:12pm
Quoting fireeee
Attachment
If you have any questions - ask. And don`t forget to return some feedback.
Happy trading.
Hi fireee,

Look interesting - WMA does not seem to be available on MT4..any ideas?

freddi
  • #4
  • Mar 4, 2008 2:20pm Mar 4, 2008 2:20pm
Quoting freddi
Hi fireee,

Look interesting - WMA does not seem to be available on MT4..any ideas?

freddi
Use the "Linear Weighted" option in the MT4 moving averages.

WMA = Weighted Moving Average

pn
  • #5
  • Mar 4, 2008 5:44pm Mar 4, 2008 5:44pm
5-10pip stop on EUR/JPY, H1? Don't you find it's a bit tight?
The market reveals who we really are...
  • #6
  • Mar 4, 2008 6:51pm Mar 4, 2008 6:51pm
5-10 pip is the take profit, stop is above the bar for a short, or below the current bar, for a long.
  • #7
  • Mar 5, 2008 3:46am Mar 5, 2008 3:46am
Ooops. Sorry, I'm an idiot. I didn't read it properly. Hey, it was late.

Ok, 5-10pips does seem a bit soon to take profits doesn't it? I use a similar method and can easily pick up 20-50pips on a trending security.
The market reveals who we really are...
  • #8
  • Mar 7, 2008 11:49am Mar 7, 2008 11:49am
Quoting purenirvana
Use the "Linear Weighted" option in the MT4 moving averages.

WMA = Weighted Moving Average

pn
Thanks - any feedback on how you doing?

f
  • #9
  • Mar 7, 2008 11:51am Mar 7, 2008 11:51am
Quoting shadowninja
Ooops. Sorry, I'm an idiot. I didn't read it properly. Hey, it was late.

Ok, 5-10pips does seem a bit soon to take profits doesn't it? I use a similar method and can easily pick up 20-50pips on a trending security.
Hi Shadowninja - any chance of details o0f your system please?

freddi
  • #10
  • Mar 7, 2008 6:08pm Mar 7, 2008 6:08pm
It's easy. I wouldn't even call it a system. Like the OP, pick any two fairly quick EMAs (it really doesn't matter). Wait for a crossover in direction of major trend on 1 hour chart, buy and hold; trailing stop of 50. Experiment on demo account with different speeds of EMAs to see what works for you.

I know people who do this to scalp off 1 minute charts but I think that's a bit over the top.

The Holy Grail is in your head.
The market reveals who we really are...
  • #11
  • Mar 9, 2008 9:20am Mar 9, 2008 9:20am
Quoting fireeee
Attachment
If you have any questions - ask. And don`t forget to return some feedback.
Happy trading.

hello, can you please explain the entry, i dont understand your system so.
  • #12
  • Mar 11, 2008 10:35pm Mar 11, 2008 10:35pm
Quoting fireeee
Attachment
If you have any questions - ask. And don`t forget to return some feedback.
Happy trading.
Thanks for sharing this system. How long have you been using it? Have you collected any data [winning trades, losing trades, etc.]? Which pairs have you been using?
Thanks again!
  • #13
  • Mar 16, 2008 5:53pm Mar 16, 2008 5:53pm
Quoting freddi
Thanks - any feedback on how you doing?

f
Hi freddi,

Sorry, I can't give you any feedback as I don't trade this system or any moving average crossovers for that matter.

Just noticed you were struggling on which indicators to use so thought I could help.

pn
  • #14
  • Mar 17, 2008 9:12am Mar 17, 2008 9:12am
Quote
hello, can you please explain the entry, i dont understand your system so.
Heino I`m sorry but I cant help you more than that.If you don`t understand it you have to master your English.
Bulls Make Money, Bears Make Money, Pigs Get Slaughtered
  • #15
  • Edited 9:32am Mar 17, 2008 9:21am | Edited 9:32am
Quoting 6pack
Thanks for sharing this system. How long have you been using it? Have you collected any data [winning trades, losing trades, etc.]? Which pairs have you been using?
Thanks again!
6pack I prefer EUR/JPY because of the big volatility. As for the data
Attached Image (click to enlarge)
Click to Enlarge Name: Clipboard01.jpg Size: 195 KB
Bulls Make Money, Bears Make Money, Pigs Get Slaughtered
  • #16
  • Mar 18, 2008 3:56am Mar 18, 2008 3:56am
Quoting fireeee
Heino I`m sorry but I cant help you more than that.If you don`t understand it you have to master your English.
Ok, thank you fee for any answer.
You need to Moving Averages I understand, and if they cross in a direction than you trade in this direction I have understand.
  • #17
  • Mar 18, 2008 1:21pm Mar 18, 2008 1:21pm
You`ve got it after all
Bulls Make Money, Bears Make Money, Pigs Get Slaughtered
  • #18
  • Apr 14, 2008 2:27am Apr 14, 2008 2:27am
I couldn't help myself not to post. Very weird system. Boring, I couldn't learn anything from it.

The point being that I made seven trades in the past few days and all were consecutive winners! So I have nothing to complain or add, about either the system or Fireeee or anybody else, that's why I say it's a boring system.

Thanks Fireeee, http://www.forexfactory.com/images/icons/icon12.gif

herty
  • #19
  • Nov 7, 2008 9:58am Nov 7, 2008 9:58am
Quoting shadowninja
It's easy. I wouldn't even call it a system. Like the OP, pick any two fairly quick EMAs (it really doesn't matter). Wait for a crossover in direction of major trend on 1 hour chart, buy and hold; trailing stop of 50. Experiment on demo account with different speeds of EMAs to see what works for you.

I know people who do this to scalp off 1 minute charts but I think that's a bit over the top.

The Holy Grail is in your head.
shadow: You look for trades on the 1H TF, do you then drop down to another to enter?, monitor?, or exit a trade? I like your setup and I have been looking for a 1H strategy. thank you
  • #20
  • Nov 8, 2008 3:11am Nov 8, 2008 3:11am
Quoting piprac
shadow: You look for trades on the 1H TF, do you then drop down to another to enter?, monitor?, or exit a trade? I like your setup and I have been looking for a 1H strategy. thank you
No, BUT I suppose you could for an increased probability of success.
The market reveals who we really are...
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