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Gamblers 5 and 15 minute trading system

  • #21
  • Mar 14, 2008 3:40am Mar 14, 2008 3:40am
I have heared about this system from some guy on FXStreet he claims to have had 500 winners in a row. Small trades but winners. He called it Rapid Trades.
Exiting is a bit of a problem. Sometimes you catch a big trend so it'd be bad to scalp only 10 pips. Sometimes the most you'll get is 10 pips.
I try to lock in profit as quickly as possible and minimize the risk.
  • #22
  • Mar 14, 2008 3:43am Mar 14, 2008 3:43am
Also how do trade around the surges & spikes that comes out regarding to news.
  • #23
  • Mar 14, 2008 3:47am Mar 14, 2008 3:47am
Tjpld;since it seems uhv heard about this logic for quite a while now,wat other strategies do you trade wit it cos backchecking on other volatile pair like GJ doesnt look so stable..
Thanks
Femzy


Quoting Tjpld
I have heared about this system from some guy on FXStreet he claims to have had 500 winners in a row. Small trades but winners. He called it Rapid Trades.
Exiting is a bit of a problem. Sometimes you catch a big trend so it'd be bad to scalp only 10 pips. Sometimes the most you'll get is 10 pips.
I try to lock in profit as quickly as possible and minimize the risk.
  • #24
  • Mar 14, 2008 4:02am Mar 14, 2008 4:02am
so if i understand that correct u wait for doji,shoouting stars and hummers to place ur order ?
  • #25
  • Mar 14, 2008 4:14am Mar 14, 2008 4:14am
Quoting JK$$$
so if i understand that correct u wait for doji,shoouting stars and hummers to place ur order ?

Wit his earlier posts;i am sure the answer to that question is a simple NO.
  • #26
  • Mar 14, 2008 4:16am Mar 14, 2008 4:16am
Quoting Tjpld
I have heared about this system from some guy on FXStreet he claims to have had 500 winners in a row. Small trades but winners. He called it Rapid Trades.
Exiting is a bit of a problem. Sometimes you catch a big trend so it'd be bad to scalp only 10 pips. Sometimes the most you'll get is 10 pips.
I try to lock in profit as quickly as possible and minimize the risk.
I have heard about some monk that claims to have 10000 winners in a row
and now he can buy his Ferrari back .
  • #27
  • Edited 5:52am Mar 14, 2008 4:27am | Edited 5:52am
If you have dojis I'd simply be more carefull because they indicate indicision in the market. And that is not what we want.
What works great is adding a 5EMA and 8SMA. They show you the momentum, if momentum is down (8SMA above 5EMA) don't take long signals.
I've tossed my other two indicators. I'm not that big of a fan of indicators anyway.
It seems like some pairs work better than others. EUR/USD does trend very nice on the 15M for other pairs other timeframes might be better.
I would not trade news events with this. Just stay out and you're safe.
5/8 Cross might also be a good exit strategy in good trends. I'd open 2 Lots close one after a few pips and let the other one trail for the bonus round and move stop to break even.

Of course this won't make it a holy grail but it seems to help.

http://img149.imageshack.us/img149/5866/momxz2.jpg
  • #28
  • Mar 14, 2008 5:13am Mar 14, 2008 5:13am
Quoting Tjpld
If you have dojis I'd simply be more carefull because they indicate indicision in the market. And that is not what we want.
What works great is adding a 5EMA and 8SMA. They show you the momentum, if momentum is down (8SMA above 5EMA) don't take long signals.
I've tossed my other two indicators. I'm not that big of a fan of indicators anyway.
It seems like some pairs work better than others. EUR/USD does trend very nice on the 15M for other pairs other timeframes might be better.
I would not trade news events with this. Just stay out and you're safe.
5/8 Cross might also be a good exit strategy in good trends. I'd open 2 Lots close one after a few pips and let the other one trail for the bonus round and move stop to break even.

http://img144.imageshack.us/img144/5963/mommx6.jpg

Of course this won't make it a holy grail but it seems to help.

Yeah it helps;as i ca see so far
  • #29
  • Mar 14, 2008 5:16am Mar 14, 2008 5:16am
Quoting Tjpld
If you have dojis I'd simply be more carefull because they indicate indicision in the market. And that is not what we want.
What works great is adding a 5EMA and 8SMA. They show you the momentum, if momentum is down (8SMA above 5EMA) don't take long signals.
I've tossed my other two indicators. I'm not that big of a fan of indicators anyway.
It seems like some pairs work better than others. EUR/USD does trend very nice on the 15M for other pairs other timeframes might be better.
I would not trade news events with this. Just stay out and you're safe.
5/8 Cross might also be a good exit strategy in good trends. I'd open 2 Lots close one after a few pips and let the other one trail for the bonus round and move stop to break even.

http://img144.imageshack.us/img144/5963/mommx6.jpg

Of course this won't make it a holy grail but it seems to help.
If you had taken the false long you would have lost but you would have won more than that back in the short position you would have placed afterwards, and depending on what pair it is (I don't know what the spread is) you could maybe also have earned a few pips on the last buy signal. You don't need other indicators than candlesticks to use this system. The fact that the EMA, and SMA have not crossed doesn't mean that it's a false signal. The false signal could just as well have been a good signal where you would have earned a lot of pips. Indicators such as EMA, SMA, MACD and so on are lagging and will allways be.
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #30
  • Mar 14, 2008 5:45am Mar 14, 2008 5:45am
I have used it for about 2 weeks but I have stopped using it now as I don't have the time to trade this system.

Quoting femzy112
How long have you been using this method Bro?????
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #31
  • Mar 14, 2008 5:51am Mar 14, 2008 5:51am
Quoting Gambler180
If you had taken the false long you would have lost but you would have won more than that back in the short position you would have placed afterwards, and depending on what pair it is (I don't know what the spread is) you could maybe also have earned a few pips on the last buy signal. You don't need other indicators than candlesticks to use this system. The fact that the EMA, and SMA have not crossed doesn't mean that it's a false signal. The false signal could just as well have been a good signal where you would have earned a lot of pips. Indicators such as EMA, SMA, MACD and so on are lagging and will allways be.
So at at least for now the system is totally indicator-free
even though i kw he is suiting it to his style
  • #32
  • Mar 14, 2008 5:53am Mar 14, 2008 5:53am
Of course winning back pips is a good thing but not losing them in the first place is even better.
  • #33
  • Mar 14, 2008 6:07am Mar 14, 2008 6:07am
Also Gambler;hw long have been trading this method and have you been executing it on a live account already
  • #34
  • Mar 14, 2008 6:07am Mar 14, 2008 6:07am
Quoting Tjpld
Of course winning back pips is a good thing but not losing them in the first place is even better.
Yes it is but I think your setup will keep you out of many trades where you could have earned a lot of pips.
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #35
  • Mar 14, 2008 6:09am Mar 14, 2008 6:09am
I'll test it out. We'll see.
At least the ma's are quite fast so they don't lag that much as others.
  • #36
  • Mar 14, 2008 6:12am Mar 14, 2008 6:12am
Quoting femzy112
Also Gambler;hw long have been trading this method and have you been executing it on a live account already
Look at post 30. I have not used it on a live account. I'm only a part time demo trader but I think the system is good enough to trade live.
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #37
  • Mar 14, 2008 6:13am Mar 14, 2008 6:13am
Quoting Tjpld
I'll test it out. We'll see.
At least the ma's are quite fast so they don't lag that much as others.
No but they do lag. That's why I'm so much against using them.
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #38
  • Mar 14, 2008 6:56am Mar 14, 2008 6:56am
Hi Gambler,

Can you post some chart for us to easier identify the buy and sell signal ?

Quoting Gambler180
No but they do lag. That's why I'm so much against using them.
  • #39
  • Mar 14, 2008 8:17am Mar 14, 2008 8:17am
Quoting tjsun80
Hi Gambler,

Can you post some chart for us to easier identify the buy and sell signal ?
I did that in the first post and I also wrote what the entry rules are.
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #40
  • Mar 14, 2008 8:50am Mar 14, 2008 8:50am
Gambler i am sure your entry rules don't stand (strong) for trades around the news.
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