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Powerful 1 Min Scalping System (Fx Prime)

  • #1,321
  • Oct 29, 2008 11:34am Oct 29, 2008 11:34am
Thanks CD. Your r really great. You reckon cossover of moving average can help to identify the clear pattern.
  • #1,322
  • Oct 29, 2008 11:40am Oct 29, 2008 11:40am
Quoting HUnter123
I'm not +300 on the day because as i mentioned few times before you cant say 90% of the times to get out at pivots and pibs to aviod retarcements and when the market moves +150 in one move ignoring all pivots and pibs in the way we should exit at, then say we had a +300 pips a day.
dont understand me wrong, i really appreciate your contribution to this forum but let's just be fair and stick to the rules at A-L-L times because i can show you at least ten examples of trades that gave 20-30 if you exit at fibs and pivots that became losers if waiting for the cci 34 to cross.
Totally agree, hence why I have been working on a mutli filter indicator that will give only high probable trade setups... putting it all together right now...
  • #1,323
  • Oct 29, 2008 11:41am Oct 29, 2008 11:41am
Trades that are +20 to +30 should never, repeat never, be closed at a loss, when trading on M1 timeframe. When you are up that much, as a minimum you should be moving your stop to breakeven. My 2 cents.

As was mentioned a few times here already, it's the exit where you make money, not the entry. You have to protect your profits and limit your losses, so you are still in the game when you catch a runner.

Cheers
CanuckCT

Quoting HUnter123
I'm not +300 on the day because as i mentioned few times before you cant say 90% of the times to get out at pivots and pibs to aviod retarcements and when the market moves +150 in one move ignoring all pivots and pibs in the way we should exit at, then say we had a +300 pips a day.
dont understand me wrong, i really appreciate your contribution to this forum but let's just be fair and stick to the rules at A-L-L times because i can show you at least ten examples of trades that gave 20-30 if you exit at fibs and pivots that became losers if waiting for the cci 34 to cross.
  • #1,324
  • Oct 29, 2008 11:43am Oct 29, 2008 11:43am
Quoting Syahmi
Try using 13-day RSI with 45-56 levels as a horizontal bar or a channel. Breaking out of this range or channel will only constitute a buy or sell. This is actually another filter just to avoid a noise like the one you just posted.

TQ , just my 2cts.
No noise there, perfect setup that failed. your filter wouldnt have made a difference.
BTW, i might sound the negative dude around here, but i post only failed signals to try to learn from mistakes and hear what the master has to say. It doesnt mean i dont like or appreciate the system and the dud, just dont see any point of showing winning trades, no learning contribution there.
  • #1,325
  • Oct 29, 2008 11:43am Oct 29, 2008 11:43am
Quoting CanuckCT
Trades that are +20 to +30 should never, repeat never, be closed at a loss, when trading on M1 timeframe. When you are up that much, as a minimum you should be moving your stop to breakeven. My 2 cents.

As was mentioned a few times here already, it's the exit where you make money, not the entry. You have to protect your profits and limit your losses, so you are still in the game when you catch a runner.

Cheers
CanuckCT
Pure gold!
  • #1,326
  • Oct 29, 2008 11:52am Oct 29, 2008 11:52am
Hi CD...your system make many pips for me...but, i guess my chart have wrong setup...i am using RSI 14 (standart MT4)....not RSI 8...
Btw...wrong setup with hundred green pips lol
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_01 Oct. 29 23.46.gif Size: 40 KB
let's make pips
  • #1,327
  • Oct 29, 2008 11:57am Oct 29, 2008 11:57am
Quoting HUnter123
BTW, i might sound the negative dude around here....
Yes, that's true.
  • #1,328
  • Oct 29, 2008 12:02pm Oct 29, 2008 12:02pm
Quoting Ronald Raygun
I don't get it.

You have a system that's working, why not trade that system while you wait? I for one can tell you the indicator is pretty powerful, but it's still based on the underlying system. In order for the indicator to do well is if you understand WHY the indicator is telling you to buy/sell.

In order to figure out the why, you need to know how the system works. This system is very good as it is. Don't give it up just because someone is coming with a shiny new indicator. Worst case, use the original system to compound the profits so you have a larger bankroll for the indicator to play with.
Very well said RR!
  • #1,329
  • Oct 29, 2008 12:05pm Oct 29, 2008 12:05pm
Quoting stevehooks
Yes, that's true.
True!
  • #1,330
  • Oct 29, 2008 12:10pm Oct 29, 2008 12:10pm
Quoting Syahmi
Alert pop-up message will be fine, telling us the CCI34 has broken the zero level.

TQ
Once again I am lost. You HAVE a pop-up sound on alert already set up in the Woodies Double CCI. You want a pop-up message for a 0 line break it gives it to you when either the 34 and 170 cross the '0'.

What is it I'm not understanding, or perhaps more accurately what is it that YOU'RE not understanding?

Not trying to be sarcastic! I'm just confused about these requests for a '0' line break alert when it already exists on the charts!
  • #1,331
  • Oct 29, 2008 12:16pm Oct 29, 2008 12:16pm
You state your concern about having pips in the pocket, only to see them go bye-bye waiting for the 34 to cross.

WHen I'm pips ahead I want to keep them (the preverbial bird in the hand!)
so I frequently will exit the trade when the 34 crosses the 100 line. Sure, it keeps me 'sometimes' out of getting some more pips, but I am a complete coward when it comes to 'riding the winners' for that very reason.

I don't exit at the 100 all the time. depends on what the HAS candles are telling me about the strength of the PM.
  • #1,332
  • Oct 29, 2008 12:17pm Oct 29, 2008 12:17pm
A few thoughts on this tread, the set up and the people trading it.

Please read the whole thread, every post(truthfully more than once)...90% of your questions that you have can be answered in this thread and have been asked 4 or 5 times all ready and answered and all the indicators can be found in this threat.

The rules that Canadian Dude posted in this thread are rock solid, well thought out and tested. If you choose to not listen to them or make up your own. Do at your own RISK.

If your a new trader, watch out please, scalping and this set up take some getting use too and there's more to a entry than just the indicators lining up. Also know the market is very volatile right now, when things settle down, you better be adapting and rethinking how you take profit. This is not a normal market at all and these Hugh trades are nice, but not the norm.

For all of you trying to better this set up by throwing more and more indicators on the chart. Remember K.I.S.S. (keep it simple stupid) Were scalping, let me repeat that...WERE SCALPING. The more you add to your chart the more info you must take in to enter a trade. on the 4 hour chart you have time on the entry and exit to be looking over a lot of info. That's not the case on the 1 min charts.

Consistency builds account and wealth, not chasing money and home run trades or over trading.

Relax, Patience, Manage Risk and you can't trade every bar with this or any other set up. A lot of you are over trading this set up, Relax...Take the "A" trades.


Thank you Canadian Dude for your time and effort and for posting and sharing this with us all.
  • #1,333
  • Oct 29, 2008 12:19pm Oct 29, 2008 12:19pm
Quoting Flamenco143
Very well said RR!
Yep too many people posting different indis rules here, and confusing new traders to the system. STICK WITH THE ORIGIONAL SYSTEM BY CD!!!! And learn it. And for those who are adding ,indicators like me I addid a few myself ,but they do not work with this system. It causis too much confusion to new traders. No system is 100% perfect I have been trading forex for over 4 years, and this systen is the best I have found period. So if you are new to the system oor a new trader learn the rules stick with them and make some pips.
It Is Not The Exit That Concerns Me, As It Is The Re-Entry
  • #1,334
  • Oct 29, 2008 12:20pm Oct 29, 2008 12:20pm
- exactly!

Quoting Ronald Raygun
I don't get it.

You have a system that's working, why not trade that system while you wait? I for one can tell you the indicator is pretty powerful, but it's still based on the underlying system. In order for the indicator to do well is if you understand WHY the indicator is telling you to buy/sell.

In order to figure out the why, you need to know how the system works. This system is very good as it is. Don't give it up just because someone is coming with a shiny new indicator. Worst case, use the original system to compound the profits so you have a larger bankroll for the indicator to play with.
  • #1,335
  • Oct 29, 2008 12:22pm Oct 29, 2008 12:22pm
Canadian Dude I wan't to thank you for turning my experience of trading forex around. I have been trading stocks and options for over 15 years and as a few months ago I was introduced to forex trading. I have done months of research and lost and made money trading with different EA's. I am not or have no experience in Robots trading my trades and at first it worked great when the market was trending in one direction. Now that there has been a reversal in the long term trend the robot has blow up my account. I shut it off still locking in 1K profit on 5K after being up 4K profit and it's off for good!! By reading this thread and logging into to Learn FX Prime I have gained valuable experience from you and others on how to trade manually. Now I only trade using your trading system and I have had great success trading Forex!! I wan't to thank you for giving me the opportunity and sight to trade forex properly and I hope you keep up your great work for the forex community for a long time !!


Regards

Jeffrey Shear
I EAT PIPS
  • #1,336
  • Oct 29, 2008 12:27pm Oct 29, 2008 12:27pm
I agree I am not experienced like you in trading but I am following the rules only of this system and yes it works great!! Not interested adding other tools unless Canadian Dude adds it to make this great system better!!
I EAT PIPS
  • #1,337
  • Oct 29, 2008 12:28pm Oct 29, 2008 12:28pm
Quoting HUnter123
No noise there, perfect setup that failed. your filter wouldnt have made a difference.
BTW, i might sound the negative dude around here, but i post only failed signals to try to learn from mistakes and hear what the master has to say. It doesnt mean i dont like or appreciate the system and the dud, just dont see any point of showing winning trades, no learning contribution there.

Hunter this was far from a good seutp...I'll give you some reasons why in my opinion as of my chart setup...Please notice my chart setup closely and what the candles do with these MA'S--Just as a help

1. As Great filters I use a 20EMA(RED) and a 50SMA(BLUE)-look at chart and see how the 1m follows them....
* the 20EMAwas crossed under the 50SMA
* the candle even closed under the 50
* I look when candle price crosses first the 20 then the blue---downtrend...then I look when the 20 line crosses the 50 line-Downtrend.

2. The price was at a major reversal Murray Level--notice line--I would not take a trade at these major levels until it clears them

3. It was too close to the major Fib level on the SPUDFIBO that came with DUDES indicators

I personally wouldn't have considered this trade because of these things together...everything pointed to a winding down of the uptrend to the beginning of the downtrend..

Just my 3 or 4 cents worth...

Greg D
Attached Image (click to enlarge)
Click to Enlarge Name: Send1.png Size: 34 KB
  • #1,338
  • Oct 29, 2008 12:32pm Oct 29, 2008 12:32pm
Quoting jshear
I agree I am not experienced like you in trading but I am following the rules only of this system and yes it works great!! Not interested adding other tools unless Canadian Dude adds it to make this great system better!!
Great!!!! And good luck with your trading.
It Is Not The Exit That Concerns Me, As It Is The Re-Entry
  • #1,339
  • Oct 29, 2008 12:33pm Oct 29, 2008 12:33pm
Here is same chart with markings for easier understanding

Greg D
Attached Image (click to enlarge)
Click to Enlarge Name: Send1.png Size: 35 KB
  • #1,340
  • Oct 29, 2008 12:51pm Oct 29, 2008 12:51pm
Quoting f4mnect
A few thoughts on this tread, the set up and the people trading it.

Please read the whole thread, every post(truthfully more than once)...90% of your questions that you have can be answered in this thread and have been asked 4 or 5 times all ready and answered and all the indicators can be found in this threat.

The rules that Canadian Dude posted in this thread are rock solid, well thought out and tested. If you choose to not listen to them or make up your own. Do at your own RISK.

If your a new trader, watch out please, scalping and this set up take some getting use too and there's more to a entry than just the indicators lining up. Also know the market is very volatile right now, when things settle down, you better be adapting and rethinking how you take profit. This is not a normal market at all and these Hugh trades are nice, but not the norm.

For all of you trying to better this set up by throwing more and more indicators on the chart. Remember K.I.S.S. (keep it simple stupid) Were scalping, let me repeat that...WERE SCALPING. The more you add to your chart the more info you must take in to enter a trade. on the 4 hour chart you have time on the entry and exit to be looking over a lot of info. That's not the case on the 1 min charts.

Consistency builds account and wealth, not chasing money and home run trades or over trading.

Relax, Patience, Manage Risk and you can't trade every bar with this or any other set up. A lot of you are over trading this set up, Relax...Take the \"A\" trades.


Thank you Canadian Dude for your time and effort and for posting and sharing this with us all.
Well said. Couldn't agree more.
CCE
I get exercise just pushing my luck
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