Powerful 1 Min Scalping System (Fx Prime) | Page 130 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Woodies CCI with a 5 min scalping 50 replies

1M & 5M Scalping System (Scalping Paradise) 21 replies

Blackdiamond System - Awesome scalping system (Coding Reqd) 9 replies

Scalping techniques on 1 Min chart 26 replies

15 min indicator on 5 min chart 3 replies

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

Powerful 1 Min Scalping System (Fx Prime)

  • #2,581
  • Nov 23, 2008 1:32pm Nov 23, 2008 1:32pm
Quoting oztrader
How easy is this to follow.I have overlaid a MTF 15 minute signal to show the strength of the move and where its at in relation to direction. Works well.
Would you mind posting your MTF Stochastic? The versions I have show a step-like movement for the 15M Stoch on a 1M chart, I'd like to test your version

Thanks
Andy
  • #2,582
  • Nov 23, 2008 1:33pm Nov 23, 2008 1:33pm
Hello,

I am about 1 year old to trading forex and am looking for a 1min scalping system. I've read through most of this tread and it seems very promising.

My question: I would like some help in setting this up in a backtesting software such as Forex Tester. Does anyone have any experience in setting up this system in Forex Tester that can help me setup the indicators?
  • #2,583
  • Nov 23, 2008 1:47pm Nov 23, 2008 1:47pm
Hi Barry,

Looks nice; Instead of looking for a last row in each indicator window, can we place all the one minute in one indicator window, and 5min, 10min, 30min and 1Hr indicator windows?. This could be more clear.

Anto
  • #2,584
  • Nov 23, 2008 1:59pm Nov 23, 2008 1:59pm
Quoting f4mnect
Here's another way I have been managing trades. I'm always watching the size of the previous moves. If there bouncing 10 to 15 pips a pop, I'm taking 10 pips a pop. But if after entering a trade it starts moving well. I'll lock in Break even 1st, then if the trade moves pretty good past 10 pips, I'll lock in my 10 pips and move stop from the base of each Heiken Ashi candle and just follow the move until i'm takin out. 1 bar at a time. Each red line on chart is a step that I would take with my stop lose. following the trade until I was takin out....

many times I have been stopped at break even.. after moving the stop to protect the entry... so.. instead of protecting the entry it just keeps you losing good opportunities to get a target. Maybe it could work in another system that opens trades in a more oversold or overbought situation but not in this system.
  • #2,585
  • Nov 23, 2008 2:06pm Nov 23, 2008 2:06pm
Quoting anto
Hi Barry,

Looks nice; Instead of looking for a last row in each indicator window, can we place all the one minute in one indicator window, and 5min, 10min, 30min and 1Hr indicator windows?. This could be more clear.

Anto

Be careful everybody, MTF indicators, have big repainting issues and the more crap you add to a chart the more info that needs to be takin in and digested before you pull the trigger. good luck with that set up, but you might want to start your own thread with that.... K.I.S.S(keep it simple stupid) holds true for all trading but on the 1min chart even more so. plus those indicators are know after the fact to show the most perfect trades ever seen, but try and trade them live lol
  • #2,586
  • Nov 23, 2008 2:10pm Nov 23, 2008 2:10pm
Quoting emda
many times I have been stopped at break even.. after moving the stop to protect the entry... so.. instead of protecting the entry it just keeps you losing good opportunities to get a target. Maybe it could work in another system that opens trades in a more oversold or overbought situation but not in this system.

I would rather have a few break evens hit and be in the market with open trades when the market starts moving, then be left sitting on the side line with no trades open and watching a move. plus if this is a issue for you, instead of moving stop to break even, just bank the pips then. trust me 7 to 10 pips over and over add up
  • #2,587
  • Nov 23, 2008 2:12pm Nov 23, 2008 2:12pm
f4mnect,

Thanks, I am aware of this repainting problem.

Anto
  • #2,588
  • Nov 23, 2008 2:19pm Nov 23, 2008 2:19pm
can anybody guess what time frame we test indicators for repainting, because it's so bad and shows up really really well lol. Humm if you guessed the 1 min chart...great job. Not calling anybody dumb or putting anybody down, just trying to make a point because this thread does have a lot of new traders in it. To just watch out for this.
  • #2,589
  • Nov 23, 2008 2:40pm Nov 23, 2008 2:40pm
Quoting f4mnect
I would rather have a few break evens hit and be in the market with open trades when the market starts moving, then be left sitting on the side line with no trades open and watching a move. plus if this is a issue for you, instead of moving stop to break even, just bank the pips then. trust me 7 to 10 pips over and over add up
Yep again you are correct on this, 7-10 pips do add up and fast, thats why it is called scalping. And you can do very well with this system with what f4mnect suggests.
It Is Not The Exit That Concerns Me, As It Is The Re-Entry
  • #2,590
  • Nov 23, 2008 3:15pm Nov 23, 2008 3:15pm
Quoting will2trade
Hello,

I am about 1 year old to trading forex and am looking for a 1min scalping system. I've read through most of this tread and it seems very promising.

My question: I would like some help in setting this up in a backtesting software such as Forex Tester. Does anyone have any experience in setting up this system in Forex Tester that can help me setup the indicators?
Hi there, with respect one of the reasons this thread is so long is due to innapropriate questions. Please search for a thread to do with your topic but do post here with fxprime specific things at your liesure.
  • #2,591
  • Nov 23, 2008 3:45pm Nov 23, 2008 3:45pm
I would like to thank mr DC for his great thread
  • #2,592
  • Nov 23, 2008 5:26pm Nov 23, 2008 5:26pm
Hello everybody, I've got a question about what time to trade. In the past I've always avoided big news days like NFP and Holidays. I've read on babypips.com, through their education to not trade on Sunday or Friday EVER! Now I don't know how much validity this carries but I'd like to hear from some real traders.

Do you trade every night during the Asian, London, and US sessions? Should I just stick to my old rules about not trading on big news days and holidays? I'd really like to get some insight on this. If you could please let me know the exact times you "Open Shop" and "Close Shop". Thanks for your help everyone, good luck pip'n
  • #2,593
  • Nov 23, 2008 6:53pm Nov 23, 2008 6:53pm
longer time frame trades on longer time frame charts need movement and should be traded when the market is know to move....were scalping. i completely avoid news. but have no issue with banking pips at all other times.
  • #2,594
  • Nov 23, 2008 7:19pm Nov 23, 2008 7:19pm
Quoting f4mnect
longer time frame trades on longer time frame charts need movement and should be traded when the market is know to move....were scalping. i completely avoid news. but have no issue with banking pips at all other times.

Okay so, when scalping just avoid news of course but other than a big news day you can pretty much trade every day of the week at anytime not necessarily during the Asian, London, US sessions. Thanks for the reply btw, there is so much information out there, it's nice to hear from actual traders!
  • #2,595
  • Nov 23, 2008 7:41pm Nov 23, 2008 7:41pm
that's just how I do it and lately the london session has been a mess, but the jpy open and a few hours after it's open has been pretty clean trades
  • #2,596
  • Nov 23, 2008 7:42pm Nov 23, 2008 7:42pm
Well I see many people following up on this so called system
I would call it a concept not a system

a system has specific entry and exit rules, and no discretion based judgments
Discretion = guessing and u know where it can get you

I ran a few tick precise backtests on EUR/USD all in all out model and the results aren't good
the performance is no better then a random entry and exit

I experimented with many exit strategies CCI 100 line cross, HA turn, CCI hook from extreme
RSI turn. None of these were consistently profitable
If you auto trade this it is a guaranteed loser


Could this method be perfected to fully operational auto trading bot
.....maybe but it would require tremendous amount of work ...it is much harder then many can imagine
  • #2,597
  • Nov 23, 2008 7:45pm Nov 23, 2008 7:45pm
Quoting eurolinux
Well I see many people following up on this so called system
I would call it a concept not a system

a system has specific entry and exit rules, and no discretion based judgments
Discretion = guessing and u know where it can get you

I ran a few tick precise backtests on EUR/USD all in all out model and the results aren't good
the performance is no better then a random entry and exit

I experimented with many exit strategies CCI 100 line cross, HA turn,...
That is one of the reasons that CD doesn't want to have EA talk here, the system has a clear enter criteria, but some fine tuninh is being done to not only filter out false signals to also get better exit points.
It's still a work in progress. But profitable as is for many of us.
Traders are smartasses
  • #2,598
  • Nov 23, 2008 7:57pm Nov 23, 2008 7:57pm
Quoting Spsantos
That is one of the reasons that CD doesn't want to have EA talk here, the system has a clear enter criteria, but some fine tuninh is being done to not only filter out false signals to also get better exit points.
It's still a work in progress. But profitable as is for many of us.
It does not have clear entry criteria the fib levels and pivots are subject to discretion
  • #2,599
  • Nov 23, 2008 7:59pm Nov 23, 2008 7:59pm
Quoting eurolinux
Well I see many people following up on this so called system
I would call it a concept not a system

a system has specific entry and exit rules, and no discretion based judgments
Discretion = guessing and u know where it can get you

I ran a few tick precise backtests on EUR/USD all in all out model and the results aren't good
the performance is no better then a random entry and exit

I experimented with many exit strategies CCI 100 line cross, HA turn,...

I'm wondering why I would care what you want to call this set up and why I would care if it can be made into a EA. I'm building my account up very nicely week after week. I'm happy as hell. So grump all you would like or go and start your own thread and help the masses to become better traders and hand them a "System"
  • #2,600
  • Nov 23, 2008 8:01pm Nov 23, 2008 8:01pm
Quoting eurolinux
It does not have clear entry criteria the fib levels and pivots are subject to discretion
I trade it with no fibs or pivots personally.
0 traders viewing now