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Powerful 1 Min Scalping System (Fx Prime)

  • #181
  • Oct 15, 2008 3:46am Oct 15, 2008 3:46am
you are reading it good, short and long signals, both failed, first exactly low of the day, dud said 5 est he starts to work
  • #182
  • Oct 15, 2008 3:54am Oct 15, 2008 3:54am
Hi All,
Thanks Canadian Dud for your system it is excellent so far. Can I ask you in an earlier post you say always wait for a new trend to be confirmed then get in. You always on trade in the direction of the 5 min chart and NEVER against it, is that right? Also if your close to a S/R line do you wait for it to break through always?
  • #183
  • Edited 4:19am Oct 15, 2008 3:59am | Edited 4:19am
Quoting akhan
Hi,

In the current ongoing session, would this have been a Valid trade.
This is the only trade that I see which meets the rules.

Also, Blanca/Jnit, could you please post some of your trades.

From what Dud states early in the thread it is from 3am - 11am EST which are the best time range to trade using this system. However, price seems to be dwindling up and down, not getting good signals. Is my reading correct here ?

Thanks in Advance.
It is news time now in the EU session, so if you are scalping right now, you must be willing to scalp 1-10 pips at a time. You must remember that this is a 1min system, there is alot of noise, it is not a 4H system where you make 100pips and more. If you use BB, you will see that the market is busy with a BB squeez on a 15 min chart and therefor it is ranging in between at the moment. It should break out soon.

So, I suggest that you move your SL to BE as soon as you can....especially now at news times. This is what I do, as soon as it made 10pips, I move my SL to BE ... you loose nothing, but eventually your gains will be more than your BE trades.

Regards,
J
  • #184
  • Oct 15, 2008 5:04am Oct 15, 2008 5:04am
Quoting Jnita
It is news time now in the EU session, so if you are scalping right now, you must be willing to scalp 1-10 pips at a time. You must remember that this is a 1min system, there is alot of noise, it is not a 4H system where you make 100pips and more. If you use BB, you will see that the market is busy with a BB squeez on a 15 min chart and therefor it is ranging in between at the moment. It should break out soon.

So, I suggest that you move your SL to BE as soon as you can....especially now at news times. This is what I do, as soon as it made 10pips, I move my SL to BE ... you loose nothing, but eventually your gains will be more than your BE trades.

Regards,
J

Very TRUE!
  • #185
  • Oct 15, 2008 5:50am Oct 15, 2008 5:50am
Another incredible start of the day trading fx prime...

Last 4 trades

+ 19 +16 -10 + 17 + 35 and still going!
  • #186
  • Oct 15, 2008 6:03am Oct 15, 2008 6:03am
I am impressed with this system, it is exactly what is says "POWERFUL".

I am +100 for the day so far.
  • #187
  • Oct 15, 2008 6:08am Oct 15, 2008 6:08am
Jnita, which pairs do you trade?
  • #188
  • Oct 15, 2008 6:18am Oct 15, 2008 6:18am
Hey guys, I just wanted to talk about this VERY important point.
Not EVERY signal the system throws at you will be valid. This is how you stay out of losing trades and false signals.

USE YOUR Daily fib levels and watch out for support/ resistance

They are crucial, if fx prime throws us a signal but the last 3 bars have been on strong s/r wait for it to break THEN take the trade...

Very simple and will boost
  • #189
  • Oct 15, 2008 6:29am Oct 15, 2008 6:29am
What happens CD if it doesn't break (currently bouncing around Daily pivot as i speak) but bounces off and starts to go up, do we re-enter current bull trend as long as CCI 34/170 is above zero and RSI 14 above too?
Also I'mlooking at 5 minute chart and it's in bull trend, do we only go when 5 min matches direction of 1 min chart?
  • #190
  • Oct 15, 2008 6:37am Oct 15, 2008 6:37am
Quoting BenQ
Jnita, which pairs do you trade?
BenQ,

She only trades the gbp/usd
  • #191
  • Oct 15, 2008 6:40am Oct 15, 2008 6:40am
Quoting lev1910
What happens CD if it doesn't break (currently bouncing around Daily pivot as i speak) but bounces off and starts to go up, do we re-enter current bull trend as long as CCI 34/170 is above zero and RSI 14 above too?
Also I'mlooking at 5 minute chart and it's in bull trend, do we only go when 5 min matches direction of 1 min chart?
Your right if 34 cci crosses and 170 is +0 we wait for it to clearly break the daily pivot before entering..
  • #192
  • Oct 15, 2008 6:54am Oct 15, 2008 6:54am
Quoting Canadian_Dud

Coding Expert Needed Please!



Can anyone create an alert that will put a nice arrow and sound an alarm when the cci 34 crosses the 0 line and goes in the direction of the 170 cci and when the rsi goes over the 55 or under the 45 level just like the rules?



This would help in a big way please help.



I hope some computing whizz kid on this thread noticed your post above!

Great system Canadian Dude, many thanks.
  • #193
  • Oct 15, 2008 6:57am Oct 15, 2008 6:57am
Quoting akhan
Hi,

In the current ongoing session, would this have been a Valid trade.
This is the only trade that I see which meets the rules.

Also, Blanca/Jnit, could you please post some of your trades.

From what Dud states early in the thread it is from 3am - 11am EST which are the best time range to trade using this system. However, price seems to be dwindling up and down, not getting good signals. Is my reading correct here ?

Thanks in Advance.
Your graph looks really interesting. Can you give the details how to set this up in Metatrader4? I can not find the bololinger squeeze, neither place a MA on the RSI chart..
Thanks
Bern
  • #194
  • Oct 15, 2008 7:00am Oct 15, 2008 7:00am
Post # 1.

Quoting bernbeach
Your graph looks really interesting. Can you give the details how to set this up in Metatrader4? I can not find the bololinger squeeze, neither place a MA on the RSI chart..
Thanks
Bern
  • #195
  • Oct 15, 2008 7:31am Oct 15, 2008 7:31am
Quoting Canadian_Dud
the cci 34 crosses the 0 line and goes in the direction of the 170 cci and when the rsi goes over the 55 or under the 45 level just like the rules?
iregardless of whether the 170 has crossed the zero as well?
  • #196
  • Oct 15, 2008 7:57am Oct 15, 2008 7:57am
i just started this, and my first 2 trades were in the +'s

which currriencies should I use? I am using eur/usd and aud/usd
+31
+17.. !!
  • #197
  • Oct 15, 2008 7:57am Oct 15, 2008 7:57am
Hi dud,

I´ve got still some questions about the system, it only works from 5est to 11 est? or it could work in london session too, do you think eurusd is the most reliable currency to work with it?, my last trade short from 1.3622 once broke support heading to resistance low of the day at 1.3695, should i close it there or wait bounce or break?, How long have you been trading this system live and which has been your biggest drawdown?
  • #198
  • Oct 15, 2008 7:58am Oct 15, 2008 7:58am
I was just concerned and wanted to validate that, since the rules weren't met we left a good chunk of price action and did not take the trade.

However, when the rules of the system were met, we enter the trade and take whatever is left on the table.

Reason for not taking the first trade:
1) Rules of the system not met.
2) A strong trend was not established, could have been whipsawed.

Is my understanding correct !?

Thanks!
Attached Image (click to enlarge)
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  • #199
  • Oct 15, 2008 8:18am Oct 15, 2008 8:18am
Quoting akhan
I was just concerned and wanted to validate that, since the rules weren't met we left a good chunk of price action and did not take the trade.

However, when the rules of the system were met, we enter the trade and take whatever is left on the table.

Reason for not taking the first trade:
1) Rules of the system not met.
2) A strong trend was not established, could have been whipsawed.

Is my understanding correct !?

Thanks!
Your right! 170 CCI IS YOUR MASTER dont go against it NEVER. Sure you will miss small trades like that but to keep it very accurate listen to 170 not just the 34...

the 34 has to be the second cci in the same direction before taking a trade

So if the 34 cci crosses in the minus and then 2 bars later the 170 crosses WAIT for the pull back from the 34 cci and when it re enters minus with 170 minus as well take trade...
  • #200
  • Oct 15, 2008 8:20am Oct 15, 2008 8:20am
Quoting blanca
Hi dud,

I´ve got still some questions about the system, it only works from 5est to 11 est? or it could work in london session too, do you think eurusd is the most reliable currency to work with it?, my last trade short from 1.3622 once broke support heading to resistance low of the day at 1.3695, should i close it there or wait bounce or break?, How long have you been trading this system live and which has been your biggest drawdown?
London session is fine, I mean most people could trade this all day long if they wanted and come out with good pips, I just like to keep my trading to london usa session.

I have been trading this system for a couple of months.. biggest drawdown isnt much I try to stop trading if I had 3 loosing signals in 1 day so I would say 30 pips...
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