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Powerful 1 Min Scalping System (Fx Prime)

  • #2,081
  • Nov 10, 2008 4:10pm Nov 10, 2008 4:10pm
with fx prime 2 it says trading times: outside trading times....

what does it means how much long it takes to enter trade.. any one used it ?
  • #2,082
  • Nov 10, 2008 4:22pm Nov 10, 2008 4:22pm
Canadian Dude

I just got "Trading in the Zone on cd and started reading it. It outlines my trading style, "
Ninety-five percent of the trading errors you are likely to
make—causing the money to just evaporate before your eyes—will
stem from your attitudes about being wrong, losing money, missing
out, and leaving money on the table. What I call the four primary
trading fears."

Im am learning alot and the best 12 mini pips i ever spent. your system so far CD has produced a net 364 pips trading off hours over the past week +. Work gets in the way of trading. Thanks for your superior system and I will try to post charts will other ideas after proving via testing success.

Gordon
  • #2,083
  • Nov 10, 2008 6:13pm Nov 10, 2008 6:13pm
Quoting MMDealer
Absolutely agree with all of the above. Nice one.

Now, how do you overlay the second heiken ashi indicator to mirror the 5min? (i'm assuming thats what you've done). I've been trying to figure out how to do this since seeing one of your posts a while back ... im guessing you just change the settings from default?

Thanks mate.
I agree with Canuck's comments too. I know another very seasoned forex trader. He has always said that it's wiser to make fewer trades that are high-probability trades. I think this system could probably be adapted for use on higher timeframes to make that strategy workable here.

Sandy
  • #2,084
  • Nov 10, 2008 6:20pm Nov 10, 2008 6:20pm
I love those matrix showing compounded profits. They keep me motivated to follow my goal of becoming a full-time trader. Especially in today's economy. I am a self-employed architect and have not had a new job in 4 months. But I have a whole lot more time for trading.

That said, we have to remember that these matrix assume we have no losses. If we take 85% of the million ($850,000) as a realistic goal that is still pretty darn cool.

But if we are trading full-time that means we are taking out profit from the account every month (or 20 trading days) to pay bills. This causes a chink in the compounding as the multiplier has to be reset back. So we do this 12 times a year this would bring us down to more like $70,800 per year.

But guess what, I am still motivated because it is more than I am making as an architect this year!!!!

This may finally be the time when becoming a full-time trader is no longer a goal but a reality.

Thanks CD...
Attitude can reflect outcome in life and trading!
  • #2,085
  • Nov 10, 2008 6:51pm Nov 10, 2008 6:51pm
Quoting ThinkFX
I made a excel file, where I put the projection for two years daily, and then the real. Alpari, accepts on automatic NON DEALING DESK trading until 50 Lots, so I put as maximum Lot size 46.
This file help you control the strategy day by day. You get 2.000.000 in 2 year.
Funny, I still have the first spreadsheet like this from a ways back Why, I don't know why!

Hope this is a joke. Spreadsheets like these are not only fictitious, but may even lead some down the road to ruin even faster than this system itself.

Why? Let's take a look at just one example:

Let's say you have a trading day with a 13 pip loss. Well, the next day you need to score 37 pips to stay on course, yeah? OK, if you can score 37 pips per day, why not go for it routinely? But wait. What's your stop loss for this 37 pip trade? Or do you go for 3 (12) pip trades now (still being short 1 pip)that very next trading day? What if you do go for 3 (12) pip trades and get hit with a 13 pip stop loss on just 1 of those trades? Now.........oy vay!!

This is just 1 ugly scenario. There are probably 100 more. ESPECIALLY trading 1 min charts!

Try to have a goal of first being profitable. Then making a living.

Good luck/good trading

kt
  • #2,086
  • Nov 10, 2008 7:17pm Nov 10, 2008 7:17pm
I followed the rules and made over 100 pips today!!
  • #2,087
  • Nov 10, 2008 8:42pm Nov 10, 2008 8:42pm
Quoting Hanoverfiste
I followed the rules and made over 100 pips today!!
Question. How many trades did you do?

D.
  • #2,088
  • Nov 10, 2008 9:42pm Nov 10, 2008 9:42pm
i did 7. ...2 15 pip loosers , 3 small 10 pippers each, , and a couple good runs on the EU
  • #2,089
  • Nov 11, 2008 1:57am Nov 11, 2008 1:57am
The following principles are taken from the “Trading in the Zone” by Mark Douglas and we suggest printing them out and reading them everyday, so that eventually they become part of your beliefs.This is one of the books that MUST be on your trading bookshelf:

The 5 Fundamental Truths of Trading:

1. Anything can happen.

2. You don’t need to know what is going to happen next to make money.

3. There is a random distribution between wins and losses for any given set of
variables that define an edge.

4. An edge is nothing more than an indication of a higher probability of one thing
happening over another.

5. Every moment in the market is unique.

The 7 Principles of Consistency:

1. I objectively identify my edges.

2. I predefine the risk of every trade.

3. I completely accept the risk or I am willing to let go of the trade.

4. I act on my edges without reservation or hesitation.

5. I pay myself as the market makes money available to me.

6. I continually monitor my susceptibility for making errors.

7. I understand the absolute necessity of these principles of consistent success
and, therefore, I never violate them.

  • #2,090
  • Edited 3:15am Nov 11, 2008 2:52am | Edited 3:15am
here's a script we have been playing with, after a order is opened you drop script on that chart. it will draw a red line at set stop lose, set in script(currently i'm trading with a 14 pip stop) It will also draw a green line on chart at set take profit(I have set for 30 pips currently). you can double click either line and move it to where u want on chart and it will close position at the line. i'm really using it for moving stop and locking in either break even or what ever I choose to lock in as profit. may move take profit to a higher set value. but try it out on a demo, has been working very well for us.
Trailing stop on, but u can turn off when script loaded, 2nd window on pop up
Note the line in code that says Order_Find_Radius is a trailing stop, version I posted was set to 10, you can set to what ever you want
Attached File(s)
File Type: mq4 TrailingLines1.mq4   5 KB | 806 downloads
  • #2,091
  • Nov 11, 2008 3:18am Nov 11, 2008 3:18am
Hi,

did anybody try to setup this strategy on Trade Station?

thx,
  • #2,092
  • Nov 11, 2008 3:59am Nov 11, 2008 3:59am
Quoting f4mnect
here's a script we have been playing with, after a order is opened you drop script on that chart. it will draw a red line at set stop lose, set in script(currently i'm trading with a 14 pip stop) It will also draw a green line on chart at set take profit(I have set for 30 pips currently). you can double click either line and move it to where u want on chart and it will close position at the line. i'm really using it for moving stop and locking in either break even or what ever I choose to lock in as profit. may move take profit to a higher set value. but try it out on a demo, has been working very well for us.
Trailing stop on, but u can turn off when script loaded, 2nd window on pop up
Note...

Hi,
does this work togehter with the "Close_All" EA i currently use or is this a stand alone?
thanks
  • #2,093
  • Nov 11, 2008 4:10am Nov 11, 2008 4:10am
Quoting freemenn
Hi,
does this work togehter with the "Close_All" EA i currently use or is this a stand alone?
thanks
i don't use ea's no idea there
  • #2,094
  • Nov 11, 2008 7:01am Nov 11, 2008 7:01am
thx for sharing ur system, i am gonna try it next week.
  • #2,095
  • Edited 7:38am Nov 11, 2008 7:19am | Edited 7:38am
Quoting Canadian_Dude

"12 pips can turn 10,000$ Into 2 900 000$"







Ok I haven't added any value in here for a little while so I am going to add TONS of value with this post.

This post could be worth thousands after thousands of dollars if you GET it.

First let me ask you a very simple question? WHAT is easier

1. Trade for 10 hours a day and hope to get 100 pips?
2. Trade for 3 hours a day and hope to get 12 pips?

What seems harder to do?

#1 is for sure harder to do....

Why? Well the more you trade...
Sorry I'm missing the most important CD's mentions please see next post

Hi Guys,

This is my first post & I'm a newbie

First, Thank you Flamenco who introduced this thread to me few wks ago if not I won't be looking at 1min scapling, it's too risky for me. Flamenco is one of the great guy in here his comments is always logic, short & stright to the point. If you look at the some of his early posts he advised the same as above mention.

Thank you Canadian Dude you've done a superb job here - there are more than 2000 posts within one month I think you broke the record I don't think anybody have done that. This is a great great thread, your system is simple easy to follow by the way I watched your vedio 3 times.

To all newbies you have to trust these guys they are great - strictly follow the rules in post 1.
Only 12 pips/day(consistently) that's all we want - this's the first step to learn & practice until we reach our goal, forget about 100+ pips(without reaching 12pips consistently a day how are we going make 100+ ????) . After we reach 12pips/day then we start to think about how to make more than 12 pips.

Further more I wish CD should add the above mention(money management) in to first post so all newbies would clearly understand.
'12 pips can turn 10,000$ into 2,900,000$' the above menstion I guess CD meant to inspire you NEVER GIVE UP fight for it.

At the end to Newbies please respect our gurus don't give them hard time READ 1st. POST first then practice practice & practice and if you want to ask question read the whole thread first whether your question had already been answered. Our gurus have to make pips too for their income. Please do repect their time.

Thank you Canadian Dude I have learned a lot from this thread.

I wish CD,Flamenco and every one in this thread have good health & of course great great great pips to come (without good health you won't be able to enjoy your million pips lol )

Best regards to all,

Pete
sorry for my poor english.
  • #2,096
  • Edited 8:04am Nov 11, 2008 7:44am | Edited 8:04am
[quote=Canadian_Dude;2337139]

"12 pips can turn 10,000$ Into 2 900 000$"





I was trying to put the whole CD contents from post 2049 but I couldn't

So please read CD post 2049 specially money management rule NO. 1-5. so you guys can understand my previous post

Sorry,

Pete.
  • #2,097
  • Nov 11, 2008 7:44am Nov 11, 2008 7:44am
Quoting pete.alfa
Sorry I'm missing the most important CD's mentions please see next post

Hi Guys,

This is my first post & I'm a newbie

First, Thank you Flamenco who introduced this thread to me few wks ago if not I won't be looking at 1min scapling, it's too risky for me. Flamenco is one of the great guy in here his comments is always logic, short & stright to the point. If you look at the some of his early posts he advised the same as above mention.

Thank you Canadian Dude you've done a superb job here - there are more than 2000 posts within one month I think you broke the record I don't think anybody have done that. This is a great great thread, your system...
Very much appreciated! thanks for the kind words
  • #2,098
  • Nov 11, 2008 8:30am Nov 11, 2008 8:30am
Quoting f4mnect
The following principles are taken from the “Trading in the Zone” by Mark Douglas and we suggest printing them out and reading them everyday, so that eventually they become part of your beliefs.This is one of the books that MUST be on your trading bookshelf:...
Hello,
If i may ask,"are u a brother to CD?"
Bcos u seems to have same heart of generousity.
This thread with people like u made me to spend 2 weeks reading and studying only the thread; I had to RE-learn Fxtrading.
I made 19 pips obeying CD's system 2day
Lost 5pips disodeying ( entered sell close to fib)
Anyway, just want to say thank u.
  • #2,099
  • Nov 11, 2008 10:26am Nov 11, 2008 10:26am
hi CD...i'm so glad learn and collecting pips with your system...but, i'm afraid this thread is for experience trader (master or above)..like a few people said that scalping is not for newbie , so i will stop reading this thread. and stop dreaming to be a good scalper,of course...thanks and GBU
let's make pips
  • #2,100
  • Nov 11, 2008 10:34am Nov 11, 2008 10:34am
Has anyone set this up in eSignal?
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