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Powerful 1 Min Scalping System (Fx Prime)

  • #1,241
  • Oct 28, 2008 5:48pm Oct 28, 2008 5:48pm
e-piph...

Nice strat. Me and my buddy are looking at applying a similar risk management model.

Cheers mate.
"If it bleeds ... we can kill it"
  • #1,242
  • Oct 28, 2008 5:50pm Oct 28, 2008 5:50pm
By the way.. who just caught that long... (not to mention all the preceeding longs that would have caught alot of pips)

??

2ATR(50) allowed for a 12 point stop... didnt come into play at all. 3ATR just taken out near the daily high.
"If it bleeds ... we can kill it"
  • #1,243
  • Oct 28, 2008 5:55pm Oct 28, 2008 5:55pm
Just pulled remainder off the table as price was stalling at the high.

Hopefully we get decent retracement to buy into ahead of the Nikkei open. May be wise to stay on the long side of this pair until we get to a decent retracement level on the higher TF's and global equity markets getting hit again.

EDIT:

Shortly after closing price accelerated through the high. Thats where a 3rd of my position still live would have been handy....
"If it bleeds ... we can kill it"
  • #1,244
  • Oct 28, 2008 5:55pm Oct 28, 2008 5:55pm
Quoting e-piphany
I'd just like to share with you guys a strategy I've been using in conjunction with this awesome strategy. I like to trade with multiple lots to enable me to partially exit at critical points and lock in profit.

I've been using ATR 50 to set an initial Take Profit and Stop Loss and it has been working extremely well.

Specifically I use an inital 2ATR stop loss from the close price of the signal candle, regardless of where I actually managed to enter. I always ensure that spread is accounted for as well i.e if I am selling 1 lot I add spread to the SL. If I am buying, I ignore.

I also ensure that my Stop loss is on an odd number before I include spread in the price, i.e if my calculated SL is 1.2320, I make it 1.2321+spread.

I generally trade with 3 lots, 1 of these lots I set a TP at 3*ATR. same rules apply with spread, but I don't mind if this is an even number. If the first lot reaches TP I will move my stops to Breakeven.

My 2nd lot is somewhat discretionary, I may exit it at a pivot point or strong S/R level, or just if it looks like the trade is slowing.

My 3rd lot will only exit if the Entry CCI crosses back over.

One final thing I use ATR for is if I need to leave my position unattended for a period of time I will set a trailing stop of 3*ATR on at least one of my open positions.

Under the current market conditions (last week or so) this has been working brilliantly, often the Stop Loss has been missed by only a couple of pips and the TP has been hit by a couple of pips. Only time will tell if this will hold or whether the ATR level will need adjusting.....

Thanks CD for all your hard work! Hope this helps someone.
hi,
would you post, or tell em where i can download, this EA you are using to manage you open positions?


thanks a lot
  • #1,245
  • Oct 28, 2008 6:02pm Oct 28, 2008 6:02pm
He is probably doing it manually... no using any EA's at all.

The indicator he is referring to is ATR (Average True Range) with a period setting of 50.

Multiply it by 2 (in your head) for the stop (take spread into account) and by 3 for your first Take Profit level.

2nd lot is taken off using discretion, and 3rd when CCI34 breaks 0 line against trade direction.

Correct me if im wrong e-piph.
"If it bleeds ... we can kill it"
  • #1,246
  • Oct 28, 2008 6:05pm Oct 28, 2008 6:05pm
Hey Guys.. this was a sweet asian session signal..

I wonder what I would have got if I hadn't exited so early.. But we were at a resistance so I bailed.

revrobwimb
Attached Image (click to enlarge)
Click to Enlarge Name: scalp pic1.gif Size: 17 KB
  • #1,247
  • Oct 28, 2008 6:11pm Oct 28, 2008 6:11pm
Quoting MMDealer
He is probably doing it manually... no using any EA's at all.

The indicator he is referring to is ATR (Average True Range) with a period setting of 50.

Multiply it by 2 (in your head) for the stop (take spread into account) and by 3 for your first Take Profit level.

2nd lot is taken off using discretion, and 3rd when CCI34 breaks 0 line against trade direction.

Correct me if im wrong e-piph.
ok thanks. I know this is only marginally related to this thread but is there any good EA that can manage:
- max. loosing points/pips (afhtere open position)
- stoploss in point/pips
- trailing stops in points/pips -afhter break-even
- closing position afhtere XX points/pips in profit
It should be possible to apply to every chart/pairs his own EA.
Thanks afor any suggestion.
  • #1,248
  • Oct 28, 2008 6:21pm Oct 28, 2008 6:21pm
Quoting MMDealer
He is probably doing it manually... no using any EA's at all.

The indicator he is referring to is ATR (Average True Range) with a period setting of 50.

Multiply it by 2 (in your head) for the stop (take spread into account) and by 3 for your first Take Profit level.

2nd lot is taken off using discretion, and 3rd when CCI34 breaks 0 line against trade direction.

Correct me if im wrong e-piph.
Bang on MMDealer.
  • #1,249
  • Oct 28, 2008 6:29pm Oct 28, 2008 6:29pm
Quoting freemenn
ok thanks. I know this is only marginally related to this thread but is there any good EA that can manage:
- max. loosing points/pips (afhtere open position)
- stoploss in point/pips
- trailing stops in points/pips -afhter break-even
- closing position afhtere XX points/pips in profit
It should be possible to apply to every chart/pairs his own EA.
Thanks afor any suggestion.

Yeah i believe there is. I dont use them personally... a search for "swiss army EA" should yeild something worth your while. I think i will satisfy all the criteria outlined above.
"If it bleeds ... we can kill it"
  • #1,250
  • Oct 28, 2008 7:24pm Oct 28, 2008 7:24pm
DOWNLOAD THE FINAL TEMPLATE AND INDICATORS RIGHT BELOW NOT ON POST #2!!!!
-------------------------------------------------------------------

Does this still hold true or are the indicators and templates now old rope?
Seems like the indicators I downloaded are not the same as in later posts.
Starting to see instead of just looking.
  • #1,251
  • Oct 28, 2008 7:51pm Oct 28, 2008 7:51pm
Why not Ronald? Re Post #1211
Cheers
CanuckCT

Quoting Ronald Raygun
I don't see an entry on the chart...
  • #1,252
  • Oct 28, 2008 8:03pm Oct 28, 2008 8:03pm
Hi CD:

Your system is fantastic,
1. Can you please share with us what broker are u using? ECN? Anyone in this forum can share?
2. Can we used the volumes indicator to filter market volatile condition for bad trades.

thanks in advance
Pipscale
  • #1,253
  • Oct 28, 2008 8:48pm Oct 28, 2008 8:48pm
Quoting Pipscale
Hi CD:

Your system is fantastic,
1. Can you please share with us what broker are u using? ECN? Anyone in this forum can share?
2. Can we used the volumes indicator to filter market volatile condition for bad trades.

thanks in advance
Pipscale
I use the volatility indicator attached which is kinda similar to what you're asking..... Under current conditions I like to see the Volatility indicator being above 0.0006 or definitely sloping up......
Attached File(s)
File Type: ex4 DM_Volatility.ex4   3 KB | 821 downloads
  • #1,254
  • Oct 28, 2008 8:51pm Oct 28, 2008 8:51pm
Quoting freemenn
ok thanks. I know this is only marginally related to this thread but is there any good EA that can manage:
- max. loosing points/pips (afhtere open position)
- stoploss in point/pips
- trailing stops in points/pips -afhter break-even
- closing position afhtere XX points/pips in profit
It should be possible to apply to every chart/pairs his own EA.
Thanks afor any suggestion.
See this thread here (http://www.forexfactory.com/showthread.php?t=9553) .

I won't link the actual EA because it's usage is a little complex and the thread needs some looking over to grasp it (at least for me).

Cheers,

ændubito
  • #1,255
  • Oct 28, 2008 9:44pm Oct 28, 2008 9:44pm
Quoting CanuckCT
Why not Ronald? Re Post #1211
Cheers
CanuckCT
CCI34 needs to cross 0 in the direction of the CCI170 WHILE the CCI170 is long/short

In your case, the CCI34 crossed BEFORE the CCI170 was on the proper side, thus no trade.
  • #1,256
  • Oct 28, 2008 10:32pm Oct 28, 2008 10:32pm
I'm using IBFX and I had faced alot of time when trying to close a profit trade, but the system hangs and get bz.... then I get -ve profit.......

FX prime is just great but scalping do need a stabil trader platform.....

I'm suffering...... ibfx lousy......

guys, I noticed that the sidewinder is a good indicator for us to exit... but must be wait till the bar closed only u make the exit....
  • #1,257
  • Oct 29, 2008 12:34am Oct 29, 2008 12:34am
Where can I get sidewinder Indicator?
  • #1,258
  • Oct 29, 2008 1:14am Oct 29, 2008 1:14am
FX Sniper's SideWinder Overl..ex4 (http://www.forexfactory.com/attachment.php?attachmentid=160451&d=Oct 22, 2008 20:17) Oct 22, 2008 20:17

check the attachment....
  • #1,259
  • Edited 2:25am Oct 29, 2008 2:00am | Edited 2:25am
Could someone post all the current indicators as things do not seem to be current in the first post where it says, These are the indicators to use.

Either that or so many people have changed this system along the way, that it is hard to tell which is the original or even current system.

This is what I currently have.

http://img525.imageshack.us/img525/8...calpingfr0.jpg
Starting to see instead of just looking.
  • #1,260
  • Oct 29, 2008 3:53am Oct 29, 2008 3:53am
Canadian we have loss entry. You say to entry CCI34 over 0 post CCI 170 over 0.
No success.
Attached Image
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