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Attachments: Powerful 1 Min Scalping System (Fx Prime)
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Powerful 1 Min Scalping System (Fx Prime)

  • #1,921
  • Nov 6, 2008 12:55pm Nov 6, 2008 12:55pm
Syahmi (http://www.forexfactory.com/member.php?u=46572) maybe you could post charts that are a lot closer to cd's set up. there a mess and when you post something like...."look at this great trade" most of us can not see what you are talking about on those charts. plus there really no help at all to people who are following cd's set up and trying to learn from this thread
  • #1,922
  • Nov 6, 2008 3:09pm Nov 6, 2008 3:09pm
Hello. So far this system is great. My biggest question is how do you know when to exit a trade. I got in at the correct time, got nervous and exited when it retraced and then it turned and kept going in the right direction.
Any suggestions would be appreciated.
  • #1,923
  • Nov 6, 2008 3:34pm Nov 6, 2008 3:34pm
Quoting MrJingles
Hello. So far this system is great. My biggest question is how do you know when to exit a trade. I got in at the correct time, got nervous and exited when it retraced and then it turned and kept going in the right direction.
Any suggestions would be appreciated.
i use a trailing stop of 50 pips after my target of 100 pips is reached, so even if it turns back i still have a +50 pips or more
  • #1,924
  • Nov 6, 2008 4:04pm Nov 6, 2008 4:04pm
Quoting bad$ala
i use a trailing stop of 50 pips after my target of 100 pips is reached, so even if it turns back i still have a +50 pips or more
how the hell do you trade a 1 min chart with a 100 pip profit target and when at +100 pips you set a 50 pip trailing stop. You are the greatest scalper to ever walk this earth...damn, i'm doing something wrong....




think i'm going to call shenanigans
  • #1,925
  • Nov 6, 2008 4:11pm Nov 6, 2008 4:11pm
Hello, here is the Powerful 1 Min Scalping System expert advisor (http://www.tradingsystemforex.com/expert-advisors-backtesting/234-powerful-1-min-scalping-system-ea.html) based on this system (final template in post#1).
  • #1,926
  • Nov 6, 2008 4:34pm Nov 6, 2008 4:34pm
Quoting f4mnect
how the hell do you trade a 1 min chart with a 100 pip profit target and when at +100 pips you set a 50 pip trailing stop. You are the greatest scalper to ever walk this earth...damn, i'm doing something wrong....




think i'm going to call shenanigans
f4mnect,
You kill me. Shenanigans!!! Way too funny.
CCE
I get exercise just pushing my luck
  • #1,927
  • Nov 6, 2008 4:40pm Nov 6, 2008 4:40pm
Quoting funyoo
Hello, here is the Powerful 1 Min Scalping System expert advisor (http://www.tradingsystemforex.com/expert-advisors-backtesting/234-powerful-1-min-scalping-system-ea.html) based on this system (final template in post#1).
here u too can fined EA http://www.forexfactory.com/showthread.php?t=121775
  • #1,928
  • Nov 6, 2008 5:01pm Nov 6, 2008 5:01pm
Quoting MrJingles
Hello. So far this system is great. My biggest question is how do you know when to exit a trade. I got in at the correct time, got nervous and exited when it retraced and then it turned and kept going in the right direction.
Any suggestions would be appreciated.
MrJingles,
The HAS candles can be used to exit a trade when they change color. Also, used to re-enter a trade if you're a daring trader. Divergence can be of help in keeping more pips as well.
Hope it helps.
CCE
Attached Image (click to enlarge)
Click to Enlarge Name: Exit.gif Size: 61 KB
I get exercise just pushing my luck
  • #1,929
  • Nov 6, 2008 9:28pm Nov 6, 2008 9:28pm
Quoting f4mnect
how the hell do you trade a 1 min chart with a 100 pip profit target and when at +100 pips you set a 50 pip trailing stop. You are the greatest scalper to ever walk this earth...damn, i'm doing something wrong....




think i'm going to call shenanigans

Haha Awesome.
"If it bleeds ... we can kill it"
  • #1,930
  • Nov 6, 2008 10:09pm Nov 6, 2008 10:09pm
Quoting pipsot
Hi guys. I've actually asked this question a few days ago but no one answered. I'm having probs with my stop loss and would like a few of the experienced traders to share what works for them. The system is a winner but my stop seems to be a bit tight i use 10 pips, am i getting it wrong?
I think you might have better luck if you widen that stop to 20 for eur/usd at the moment. If you do that you also must half your lot size so your risk is still the same.

That being said it is important also to notice how many pips the pair is traveling on average for swing highs and lows in the time frame you are trading. So if the pair is traveling say 30 pips on swings a 10 pip SL is almost certain to get hit where as a 20 pip SL will be safer if you traded a strong signal.

JMHO

Dan
  • #1,931
  • Nov 6, 2008 10:36pm Nov 6, 2008 10:36pm
140 pips so far tonight! Cant wait to try the 3am - 11am session...
  • #1,932
  • Nov 6, 2008 10:53pm Nov 6, 2008 10:53pm
Quoting andante9
I think you might have better luck if you widen that stop to 20 for eur/usd at the moment. If you do that you also must half your lot size so your risk is still the same.

That being said it is important also to notice how many pips the pair is traveling on average for swing highs and lows in the time frame you are trading. So if the pair is traveling say 30 pips on swings a 10 pip SL is almost certain to get hit where as a 20 pip SL will be safer if you traded a strong signal.

JMHO

Dan
wow, this is powerful stuff, can you show us graphically how did you calculate the range for swing highs and lows for the timeframe? thanks
  • #1,933
  • Nov 6, 2008 10:54pm Nov 6, 2008 10:54pm
Quoting Hanoverfiste
140 pips so far tonight! Cant wait to try the 3am - 11am session...
lol I thought you're going to stay off the "non-productive" times
  • #1,934
  • Nov 6, 2008 10:59pm Nov 6, 2008 10:59pm
Trade 1 - aggressive - CCI170 crosses zero
Trades 2 and 3 - standard FX Prime entries
Cheers
CanuckCT
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 23 KB
  • #1,935
  • Nov 6, 2008 11:00pm Nov 6, 2008 11:00pm
Quoting f4mnect



think i'm going to call shenanigans
Lol, I'm even tempted to google for "shenanigans" since it isn't a familiar word, but it's funny to hear it even when you don't know the meaning...

now I know what shenanigan means
  • #1,936
  • Nov 6, 2008 11:25pm Nov 6, 2008 11:25pm
Quoting CanuckCT
Trade 1 - aggressive - CCI170 crosses zero
Trades 2 and 3 - standard FX Prime entries
Cheers
CanuckCT
canuckCT I think your 3rd trade is rather close to the fib line isn't it?
I want to know how did you came up with the decision to take it, I think I won't... but I'm a newbie, that's why I ask these kinds of questions a lot... hehe.

do tell.. thanks
  • #1,937
  • Nov 6, 2008 11:27pm Nov 6, 2008 11:27pm
got 1160 pips since i use it 9 days ago. thanks canadian_dude
  • #1,938
  • Nov 6, 2008 11:30pm Nov 6, 2008 11:30pm
Quoting andante9
I think you might have better luck if you widen that stop to 20 for eur/usd at the moment. If you do that you also must half your lot size so your risk is still the same.

That being said it is important also to notice how many pips the pair is traveling on average for swing highs and lows in the time frame you are trading. So if the pair is traveling say 30 pips on swings a 10 pip SL is almost certain to get hit where as a 20 pip SL will be safer if you traded a strong signal.

JMHO

Dan
I'll give it a try, great info!!!
10 pips a day keeps the blues away!!
  • #1,939
  • Nov 6, 2008 11:44pm Nov 6, 2008 11:44pm
Quoting pipsot
I'll give it a try, great info!!!
pipsot I really appreciate if you can show me how to do it graphically, thanks a lot
  • #1,940
  • Nov 6, 2008 11:53pm Nov 6, 2008 11:53pm
Quoting marcelnyo
wow, this is powerful stuff, can you show us graphically how did you calculate the range for swing highs and lows for the timeframe? thanks
Hi Marce

The figures I used are not calculated on anything. It is pure theory. I am also in the learning stages of manual trading but thanks for asking. For the record if I am considering swing high and lows on any given time frame I will zoom out of the chart until the peaks and valleys are obvious. At that point I can see the distance of the swings by looking at the range of pips from highs to lows.


Dan
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