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my new, Extremely simple, 2 indicator scalping/5min method

  • #41
  • Jul 4, 2008 3:17am Jul 4, 2008 3:17am
Starting monday, I shall be here from 6am gmt using this system. When i fill the trade is coming up for an entry i will advise anyone who wishes to join me. Hopefully Nik will be here too.
Just placed second trade! Lets see what happens!
  • #42
  • Jul 4, 2008 3:47am Jul 4, 2008 3:47am
10 pips from that one...!
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  • #43
  • Jul 4, 2008 3:47am Jul 4, 2008 3:47am
hi nik. nice system. thanks.
  • #44
  • Jul 4, 2008 3:57am Jul 4, 2008 3:57am
Quoting paghandum
hi nik. nice system. thanks.
Hi Paghandum, Haven't seen Nik on here since yesterday when he told some guy to stay off the tread. How long have been using this method?
  • #45
  • Jul 4, 2008 4:07am Jul 4, 2008 4:07am
Hi Jaded, I don't notice the .0002 lines on your MACD. I don't believe the short should have been taken since the MACD made it above +.0002 on my chart. Also notice no volume MA that the thread starter says he uses and makes sure it's above 35 before entering.
You seem profitable and that is what matters, don't get me wrong. I just don't understand the idea behind the post at :47 after that says you shorted there. It doesn't even look like a stoch cross.(?)
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  • #46
  • Jul 4, 2008 4:29am Jul 4, 2008 4:29am
OK, here is my chart using FXDD and the template given by thread starter with his MACD indicator and inputs. 5:30AM EST now.
I do understand you took that trade in regards to the MACD breaking below 0, but there is still the issue of MACD being above .0002 on my chart.
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  • #47
  • Jul 4, 2008 4:40am Jul 4, 2008 4:40am
ok, have changed my macd to a 4 26 9 to pull in a candle earlier for entry. I use 2 chart types mt4 for its versatility and the other chart is from broker. this one doesn't get posted. i.ve just added 0.002's so easier for all. BB added for my use for identifying a safe exit.
  • #48
  • Jul 4, 2008 4:48am Jul 4, 2008 4:48am
Missed that one!
  • #49
  • Jul 4, 2008 4:51am Jul 4, 2008 4:51am
Also i have an 8 & 12 sma of the close on my charts a closing candle above/below the 8 gives me another signal to buy/sell.
When all the other conditions are met.
  • #50
  • Jul 4, 2008 4:55am Jul 4, 2008 4:55am
Quoting systemofthewave
OK, here is my chart using FXDD and the template given by thread starter with his MACD indicator and inputs. 5:30AM EST now.
I do understand you took that trade in regards to the MACD breaking below 0, but there is still the issue of MACD being above .0002 on my chart.
!
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  • #51
  • Jul 4, 2008 5:00am Jul 4, 2008 5:00am
I missed this scalp but no worries there will be more!
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  • #52
  • Jul 4, 2008 5:20am Jul 4, 2008 5:20am
Right guys, my week ends now. Will be back on monday. Also for the more aggressive trader you can reduce the macd signal to +&- 0.0001. Have a good day trading.
  • #53
  • Jul 4, 2008 9:25am Jul 4, 2008 9:25am
Quoting systemofthewave
OK, here is my chart using FXDD and the template given by thread starter with his MACD indicator and inputs. 5:30AM EST now.
I do understand you took that trade in regards to the MACD breaking below 0, but there is still the issue of MACD being above .0002 on my chart.
Hi Nik,

Are all the signals demostrated by 'systemofthewave' valid or only the 1st signal is valid.
thx
  • #54
  • Jul 4, 2008 11:02am Jul 4, 2008 11:02am
I miss seeing Nik here and would like to hear him comment today.
I think he's in US eastern time zone in Canada so I'm not sure if he's up all the time during his strategy trading hours.

Quoting lefteye
Hi Nik,

Are all the signals demostrated by 'systemofthewave' valid or only the 1st signal is valid.
thx
  • #55
  • Jul 6, 2008 10:33pm Jul 6, 2008 10:33pm
hi guys.

sorry i havent been here for a couple days, the thread was relativly inactive for a couple days, it was really just me talking to my self

i will be online monday to friday 5:30 - 11 or 12 AM Eastern Standard Time. if you guys have msn messenger and would like to discuss the system or trade togeather let me know.m

i will be checking back often now and am able to answer any questions you have and improve on this system.

currently i am looking for a objective way of determining when the currenct pair is whipsawing so that i can "sit on my hands" and not make any trades.

such as an indicator and we dont trade when the line on the indicator is between here and here, or whatever. any ideas, please post them.

also, a change i have made to the way i trade this system is i dont trade between 10-11am EST , i have found through visual backtesting that during this one hour, the market often whipsaws and then goes back after 11am. this is not to say there is never any good trades during this time, but from my observations, not trading during this time is very beneficial and will save you money, infact, there was about 4 or 5 days where trading during this one hour whiped out all my gains for the day and made me finish in the negative. you can find an example of this in one of the charts i posted earlier in the thread where i had 3 or 4 bad trades in about 40ish minutes that made me lose 30ish pips.

would you guys please post your profit/lose so far trading this system. also any variations to the system that you have traded and the stoplosses you are using.

=======================================================
Jaded:, i have been using bollinger bands as well, please post what exactly you are looking for in the bollinger bands while trading. also, from what i gatherd from your charts, it does not appear you are trading the system the way i outlined the rules in the first post, is this intentional, or accidental? it looks as if you are taking trades when the ZLS and the MACD are lining up, what i outline is that a trade is taken when the two line up, but then the ZLS crosses the other way, and then once again, crosses into the original direction, and a trade was taken as long as the macd did not go below the -.0002 line for a long, and the .0002 line for a short.

also make sure you have downloaded the macd indicator i posted, it has been slightly tweaked so i am pretty sure noone else has it unless they downloaded it from here.


========================================================

Mr Dean: i will once again be posting my daily charts starting tomorrow (monday) so you can see my winning and losing trades, thursday and friday were not very productive days for me, but i will once again start posting my charts daily.
==========================================================

i am going to bed now, it is 11:32 PM sunday night, and i will probably wake up tomroow morning at 4-4:30 am. will talk to you guys tomorrow hopefully and mabye we can make some $$$
  • #56
  • Jul 7, 2008 1:30am Jul 7, 2008 1:30am
Quoting nikolaou
hi guys.

sorry i havent been here for a couple days, the thread was relativly inactive for a couple days, it was really just me talking to my self

i will be online monday to friday 5:30 - 11 or 12 AM Eastern Standard Time. if you guys have msn messenger and would like to discuss the system or trade togeather let me know.m

i will be checking back often now and am able to answer any questions you have and improve on this system.

currently i am looking for a objective way of determining when the currenct pair is whipsawing so that i can "sit on my hands" and not make any trades.

such as an indicator and we dont trade when the line on the indicator is between here and here, or whatever. any ideas, please post them.

also, a change i have made to the way i trade this system is i dont trade between 10-11am EST , i have found through visual backtesting that during this one hour, the market often whipsaws and then goes back after 11am. this is not to say there is never any good trades during this time, but from my observations, not trading during this time is very beneficial and will save you money, infact, there was about 4 or 5 days where trading during this one hour whiped out all my gains for the day and made me finish in the negative. you can find an example of this in one of the charts i posted earlier in the thread where i had 3 or 4 bad trades in about 40ish minutes that made me lose 30ish pips.

would you guys please post your profit/lose so far trading this system. also any variations to the system that you have traded and the stoplosses you are using.

=======================================================
Jaded:, i have been using bollinger bands as well, please post what exactly you are looking for in the bollinger bands while trading. also, from what i gatherd from your charts, it does not appear you are trading the system the way i outlined the rules in the first post, is this intentional, or accidental? it looks as if you are taking trades when the ZLS and the MACD are lining up, what i outline is that a trade is taken when the two line up, but then the ZLS crosses the other way, and then once again, crosses into the original direction, and a trade was taken as long as the macd did not go below the -.0002 line for a long, and the .0002 line for a short.

also make sure you have downloaded the macd indicator i posted, it has been slightly tweaked so i am pretty sure noone else has it unless they downloaded it from here.


========================================================

Mr Dean: i will once again be posting my daily charts starting tomorrow (monday) so you can see my winning and losing trades, thursday and friday were not very productive days for me, but i will once again start posting my charts daily.
==========================================================

i am going to bed now, it is 11:32 PM sunday night, and i will probably wake up tomroow morning at 4-4:30 am. will talk to you guys tomorrow hopefully and mabye we can make some $$$
Nik, would be good to discuss all on msn! [email protected]
i have made few minor changes which has made every trade taken so far produce pips be it just 3 or upto 20..we'll chat later today. Dean
  • #57
  • Jul 7, 2008 1:41am Jul 7, 2008 1:41am
This is the macd im using!
Attached File(s)
File Type: ex4 MACDTraditional.ex4   3 KB | 1,415 downloads
  • #58
  • Jul 7, 2008 2:18am Jul 7, 2008 2:18am
Morning All! All a bit flat today so far.
  • #59
  • Jul 7, 2008 8:41am Jul 7, 2008 8:41am
Hi Nik,

Nice seeing u back, let's improve the system together...

In the mean time, how's the signals demostrated by 'systemofthewave' post 46. 1st only or all three r valid?
  • #60
  • Jul 7, 2008 11:40am Jul 7, 2008 11:40am
thanks lefteye it is good to be back, and yes only the first trade is correct according to the rules i posted.

currenctly me and jadedinc are trading a modified version of the system, and i willl post the results after a couple days of trading it.
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