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Scalping the EUR/GBP effectively - Forturama

  • #81
  • Oct 6, 2008 2:51am Oct 6, 2008 2:51am
After weekends I start working 2 hours after market opening.
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  • #82
  • Oct 6, 2008 2:54am Oct 6, 2008 2:54am
It seems that your data feed has a good volatility. Who is your broker?

About wrong lot size, I do not have this problem. Could you try other values on a demo account of your broker to see if it is multiplying the lot by 4 every time?

Quoting Slkosier
Just started tring this sytem for scalping while waiting for another system I use on the dailys only...I have made around 10 trade today and all positive so far...
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  • #83
  • Oct 6, 2008 3:44am Oct 6, 2008 3:44am
Hello Forturama,this is a good system! I tried it this morning made pips without ea,I would rather trade it manually.thank you for your system, I never looked at this pair before!
  • #84
  • Oct 7, 2008 1:42am Oct 7, 2008 1:42am
Thanks for your answer. Always fast answers in this thread . I will try different settings. As for now I prefer to use the EA. I would like to do it manually, but I'm sleeping during the trading hours since it's nighttime here. Because of that I can't use the martingale, but I would like to test that as well, so I'm looking forward to the new EA

Thanks again for all help and a great system.

/Archie


Quoting Forturama
Personally I prefer shorter TP and SL.

I prefer let money on the table and got some profit than risk a lot of money to take all the possible profit.

There is not a perfect setting, but as we are scalping now I work with
TP: 8
SL = 20 to first order and

TP = 8
SL = 10 to second order.

When first order reaches TP or SL I close all the Trades.

About martingale, If you do not double the initial lot size you will risk less money to get the initial desired profit.

I will test LOT1 = 1 and lot2 = 1.
(in case of loss = 1 * 20 + 1 * 10 = -3%
in case of profit = 1 * 0 + 1 * 8 = 2.5% )

Today I use : LOT1 = 0.1 and lot2 = 0.2.
(in case of loss = 1 * 20 + 2 * 10 = -4%
in case of profit = 1 * 0 + 2 * 8 = 5% )

As you can see the Risk Reward Ratio is more interesting if you do not double initial position to second step.
  • #85
  • Oct 7, 2008 2:29am Oct 7, 2008 2:29am
A very efficient night.

Fast moving on the last trade. 3 trades on the same candle!

This is the highest level of adrenaline you will get from Asian session.
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  • #86
  • Oct 7, 2008 2:31am Oct 7, 2008 2:31am
The advantage of doing this manually is that you may use price action.

See the first trade of this night, I could win 3 times the actual profit, but I was sleeping, and the EA closed the order without reversion signal, it uses simply SL and TP. Why not trailing stop? I will see this.


Quoting monikroc
Hello Forturama,this is a good system! I tried it this morning made pips without ea,I would rather trade it manually.thank you for your system, I never looked at this pair before!
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  • #87
  • Oct 7, 2008 2:32am Oct 7, 2008 2:32am
Alpari has 2pips spread to this pair.

Quoting monikroc
Hello Forturama,this is a good system! I tried it this morning made pips without ea,I would rather trade it manually.thank you for your system, I never looked at this pair before!
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  • #88
  • Oct 7, 2008 5:49am Oct 7, 2008 5:49am
Yes there was a lot of movement last night, and the EA gave some nice trades, even though one of them was a loss, still the average ended up in a profit.

A trailing stop would be a nice option in the EA. Unfortunately I am not good at programming, otherwise I would try to implement this in the EA. Anyone that could give us a hand with this?

Quoting Forturama
The advantage of doing this manually is that you may use price action.

See the first trade of this night, I could win 3 times the actual profit, but I was sleeping, and the EA closed the order without reversion signal, it uses simply SL and TP. Why not trailing stop? I will see this.
  • #89
  • Oct 8, 2008 2:29am Oct 8, 2008 2:29am
Hi you forgot tell us who is your broker.

I do not like trailing stop. I will add TL to the EA and post it here soon.

We are scalping, so even during Asian, we should not try to get all the pips the market offers. The ideal is averaging and avoiding loses.



Quoting Archie
Yes there was a lot of movement last night, and the EA gave some nice trades, even though one of them was a loss, still the average ended up in a profit.

A trailing stop would be a nice option in the EA. Unfortunately I am not good at programming, otherwise I would try to implement this in the EA. Anyone that could give us a hand with this?
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  • #90
  • Oct 8, 2008 2:31am Oct 8, 2008 2:31am
Two consecutive trades in opposite directions.

Nice!
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  • #91
  • Oct 8, 2008 4:37am Oct 8, 2008 4:37am
Hi,

My broker is IBFX. The EA took 3 winning trades last night, so it was a pleasant surprise to wake up to. I do not like trailing stops either when it comes to scalping, but it would be nice to test it, to see if it will be profitable. I also prefer small but consistent winnings, even if one unfortunately can't make positive pips every day. Looking forward to the EA.

Quoting Forturama
Hi you forgot tell us who is your broker.

I do not like trailing stop. I will add TL to the EA and post it here soon.

We are scalping, so even during Asian, we should not try to get all the pips the market offers. The ideal is averaging and avoiding loses.
  • #92
  • Oct 8, 2008 5:34am Oct 8, 2008 5:34am
I am ibfx too, but I had 2 and not 3 orders.



Quoting Archie
Hi,

My broker is IBFX. The EA took 3 winning trades last night, so it was a pleasant surprise to wake up to. I do not like trailing stops either when it comes to scalping, but it would be nice to test it, to see if it will be profitable. I also prefer small but consistent winnings, even if one unfortunately can't make positive pips every day. Looking forward to the EA.
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  • #93
  • Oct 8, 2008 10:37am Oct 8, 2008 10:37am
a tight trailing stop, say, 10 pips (20$ value), may produce some surprises.

but it is not advisable for one position.

you may place 2 positions, 1 position with TP like 10 pips, then another position on trailing stop.

this is not a high-winning-ratio system (70%+ hit rate, depends on TP/SL ratio), so a trailing stop may be valuable.
  • #94
  • Oct 8, 2008 2:36pm Oct 8, 2008 2:36pm
Hi all, great worh here. Is the martingale version of the ea (rsi prince) available?
  • #95
  • Oct 8, 2008 3:16pm Oct 8, 2008 3:16pm
So far I have had higher hit rate than 70 %, but I have not tried this system for that long. What settings are you using to increase hit rate?

Quoting charvo
a tight trailing stop, say, 10 pips (20$ value), may produce some surprises.

but it is not advisable for one position.

you may place 2 positions, 1 position with TP like 10 pips, then another position on trailing stop.

this is not a high-winning-ratio system (70%+ hit rate, depends on TP/SL ratio), so a trailing stop may be valuable.
  • #96
  • Oct 8, 2008 3:16pm Oct 8, 2008 3:16pm
Hi, just tried both the EA and alert indicator and both these make my MT4 crash due to a fatal error. Any ideas what could be causing this. I am running Vista.
  • #97
  • Oct 8, 2008 3:19pm Oct 8, 2008 3:19pm
Hi,

I don't know what could be causing that crash. Try the EA wihtout the indicator. Is it working then? I haven't had any crashes with this EA so far.

Quoting 4xtrend
Hi, just tried both the EA and alert indicator and both these make my MT4 crash due to a fatal error. Any ideas what could be causing this. I am running Vista.
  • #98
  • Oct 8, 2008 4:01pm Oct 8, 2008 4:01pm
These were tried one at a time.
  • #99
  • Oct 9, 2008 2:54am Oct 9, 2008 2:54am
Hi,

The EA is independent of the indicator RSI_ALERT.

Is there somebody else with VISTA?


Quoting 4xtrend
These were tried one at a time.
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  • #100
  • Oct 9, 2008 2:55am Oct 9, 2008 2:55am
High speed!
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