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FX-50 Great Scalping System

  • #241
  • Dec 10, 2008 4:49am Dec 10, 2008 4:49am
Quoting redpine
I've been using your template this week. I only trade a couple hours in the morning and a couple in the evening. So far I've had 10 out of 10 winners.

I hope to hear more about your entries, but when to take profit is the hardest part. Do you always, use a fixed take profit?

Thanks,

Dan
Well played Dan, I didn't want to say anything about win ratio because it may start some people off saying its BS but I too am 100% with picking winning entries for nearly 2 months now, except for 2 stupid trades which I only lost 17pips on . Like you though I only trade a couple of hours morn and eve.

I have found that the secret to these kind of results is taking the 1st 2 REAL setups after 8gmt and then the same again at 14gmt. This is basically in conjuction with the breakout zones on my template. I trade e/j and g/u and by real setups I mean as I described in my 1st ever post here when I also provided the template.

About taking profit, I apply a trailing 15 stop loss immediately, then when I see the SL get to break even I change it to a trailing 25. Then I watch as i arrives at any pivots and see how it reacts, if we are selling for example and we arrive at a pivot and then get a bull candle eating up a bear candle I will take my profit. I do not get greedy and 50-100pips/hr is not usually a problem. When trading full 1.0 lots that makes you pretty damn happy as you eat breakfast.
  • #242
  • Edited 5:03am Dec 10, 2008 5:02am | Edited 5:03am
I took some screenshots of some trades to teach some friends of mine how to trade. All of these shots are taken right after I exited so you can also see my exits.

Some of them I exited due to pivots, some due to bears overpowering bulls or the other way around, and some I just exited because my daily target was hit and I didn't want to sit there any longer.

Attached File(s)
File Type: zip M1-entries.zip   639 KB | 1,898 downloads


Screenshot sizes vary due to some being on my laptop and some on my desktop. Thats the beauty about this job, you travel, stay in hotels with internet in the room and make money as you go.

* I'll start putting together M2 screenshots next
  • #243
  • Dec 10, 2008 5:12am Dec 10, 2008 5:12am
Quoting tkpower8
About taking profit, I apply a trailing 15 stop loss immediately, then when I see the SL get to break even I change it to a trailing 25. Then I watch as i arrives at any pivots and see how it reacts, if we are selling for example and we arrive at a pivot and then get a bull candle eating up a bear candle I will take my profit. I do not get greedy and 50-100pips/hr is not usually a problem. When trading full 1.0 lots that makes you pretty damn happy as you eat breakfast.
Just made number 11 for 25 pips. Had to close it, cause I'm off to work. I too have been using the 15 pip trail stop. What concerns me most about it is that it kicks in only after your 15 pips up. Other than that, when I'm personally monitoring my trades, exits are totally discretionary. I hope to get a bit more mechanical on my exits.

Thanks again for the great work!

Dan
.
  • #244
  • Dec 10, 2008 6:08am Dec 10, 2008 6:08am
Hi, I have been able to load all indicators up till now. It seems I cant get the indicators fro jshear post 186 or maxzeus post 190 to load. Can any one assist me . Thanks
  • #245
  • Dec 10, 2008 6:09am Dec 10, 2008 6:09am
Hi

That is meant to say (unable) to load
  • #246
  • Dec 10, 2008 6:10am Dec 10, 2008 6:10am
Quoting redpine
Just made number 11 for 25 pips. Had to close it, cause I'm off to work. I too have been using the 15 pip trail stop. What concerns me most about it is that it kicks in only after your 15 pips up. Other than that, when I'm personally monitoring my trades, exits are totally discretionary. I hope to get a bit more mechanical on my exits.

Thanks again for the great work!

Dan
Use the scripts in my zip file to enter, it puts you in with a 25pip SL and 50pip TP, adjust them after you are in, SL goes to the most recent swing high or low, and TP can be removed if you like and you can just use the trail and what you see

* this is for the M1 of course, SL on an M2 entry is much tighter
  • #247
  • Dec 10, 2008 6:19am Dec 10, 2008 6:19am
Quoting Rastaman
And just since when have you been the authority around here?
The wickers system is in my chart posted here because I was making a point about the Lag being useful. Now, just how is that confusing for newbies.
Rastaman, I never claimed to have any authority on this or any other thread. My sole motivation in posting was to help traders and posters avoid the same costly mistakes I and many others like me have made in the past in finding out what works and what doesn't.

I have seen countless threads go haywire exactly for the same reasons of my admonishment. If you or anyone else choses to ignore that advise that is certainly your preraugative!

I make my living trading the forex, something which didn't occur until I started paying attention to and copy what experienced, successful traders were doing. In all sincerity I wish you well in your search here for something that will work for you in eventually trading a live account.

Apparently, since what I felt was important to share just riles you then by all means ignore me and continue your present endevours. My time will be spent better elsewhere.
  • #248
  • Dec 10, 2008 6:28am Dec 10, 2008 6:28am
Quoting tkpower8
Use the scripts in my zip file to enter, it puts you in with a 25pip SL and 50pip TP, adjust them after you are in, SL goes to the most recent swing high or low, and TP can be removed if you like and you can just use the trail and what you see

* this is for the M1 of course, SL on an M2 entry is much tighter
There are so many templates, it is hard for one to decide which to use. At the end this can make newbie loosing his money.

It is hard to test them all, everyone of them seems like a new system with new parametrs.

Just my 2 cents...
  • #249
  • Dec 10, 2008 6:38am Dec 10, 2008 6:38am
Quoting debitel
There are so many templates, it is hard for one to decide which to use. At the end this can make newbie loosing his money.

It is hard to test them all, everyone of them seems like a new system with new parametrs.

Just my 2 cents...
.1 - If you don't feel confortable with a setup, don't force yourselves to use it, understand the basics.

.2 - ALthough we see different templates here, in fact they have a lot in common, using CCIs and RSI's for example...

Since the intention is to keep improving, I'm glad to have all of these available to test with, so if you're a "newbie", don't take a step longer than your leg, learn the basics about forex, than about analysing charts.

We can't progress our "investigation" if we don't try other options within the premises set by the initial fxprime. If we try to "keep it simple" so that we'd make it easy for "newbies", we'd be certainly cutting ourselves room for improvement.

My 0.02€
Traders are smartasses
  • #250
  • Dec 10, 2008 6:43am Dec 10, 2008 6:43am
hi I put that thing'o into a chart because I had made a purchase but could not get my account number accepted and thought That may be the way to go but as it is locked I get an alert... cannot use it on that program ...
( well its locked aint it ) duh! so I deleted every thing but am unable to get rid of the alert as it keeps popping up on the desktop ...sheees ...so just warning other..

ok now for the new thread I must admit that I am totaly lost as to which new /best template to down load as I think there is over load of info so could some one please suggest witch template is the most suitable for this old fisherman to download .
thanks in advance
  • #251
  • Dec 10, 2008 6:47am Dec 10, 2008 6:47am
Quoting Flamenco143
Rastaman, I never claimed to have any authority on this or any other thread....
Eventually trading a live account?
I have been trading a live account using either this system, or the wicker system but mainly a combination of the two.

Not 100% convinced that either is for me yet, with all the ranging that has been going on but between the two their is some consistency especially on short trades.
That is why I am using them both side by side.
Starting to see instead of just looking.
  • #252
  • Dec 10, 2008 7:18am Dec 10, 2008 7:18am
Quoting Spsantos
.1 - If you don't feel confortable with a setup, don't force yourselves to use it, understand the basics.

.2 - ALthough we see different templates here, in fact they have a lot in common, using CCIs and RSI's for example...

Since the intention is to keep improving, I'm glad to have all of these available to test with, so if you're a "newbie", don't take a step longer than your leg, learn the basics about forex, than about analysing charts.

We can't progress our "investigation" if we don't try other options within the premises set by the initial...
Thank you for your kind words, well since trading live for 4 years now, I hardlly consider myself a newbie, lol, but I might be one as well.

The lines I wrote were just to let people know, there are a lot of new people reading this stuff, and with so many indicators and templates it is hard for one to know what to use.

I use f4cmnet setup, I find it great. Makes me 50 easy pips a day, everyday.

Good luck to you all!
  • #253
  • Dec 10, 2008 7:20am Dec 10, 2008 7:20am
Hi Kino,
Was it a valid SELL signal for your template? Or was the valid signal lighted when the SMA50 was just crossed?

Quoting kinonen
look at this screen , few minutes ago on EURUSD UT1m
looking at the 3 indicators
trade only when SMA50 is crossed (tarde with the trend)
but you can see 2 shorts ans a long ....and a short just on the right beginning
i try to make a ALL of ALL of AllINONe lol
kino
Attached Image (click to enlarge)
Click to Enlarge Name: example 2 sells & 1 buy.gif Size: 30 KB
  • #254
  • Dec 10, 2008 7:26am Dec 10, 2008 7:26am
Yes, you can use WA Explosion to confirm entry or show you the exit point:

Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 88 KB


Attached Image (click to enlarge)
Click to Enlarge Name: 2.gif Size: 24 KB
  • #255
  • Dec 10, 2008 7:45am Dec 10, 2008 7:45am
Quoting debitel
There are so many templates, it is hard for one to decide which to use. At the end this can make newbie loosing his money.

It is hard to test them all, everyone of them seems like a new system with new parametrs.

Just my 2 cents...
Don't be a sheep would be my advice, discover and make your own rules based on your personality and risk appetite.

Pick a method you like, read everyones take on it, create your own rules that work for you, demo it for a bit and make sure it works for you. No need to jump in and lose money if you are not final with your method. By this I mean solid rules for TP, SL, Entries, Exits... the full package.

Like I think I said in a previous post, there are plenty of methods that will work out great for some and not for others, its not the method thats at fault but the executioner of the method due to confused and flimsy rules.

Consistancy in any of the 100's of methods out there wll all produce results, some more, some less, its your money, your choice.
  • #256
  • Dec 10, 2008 7:50am Dec 10, 2008 7:50am
I used the f4cmnet setup this morning with good success. While it requires patience I don't see how you can avoid picking up 50 pips within a few trades. Here are the entry rules as I use them. I'm going to add the 50 sma to see if that helps with any bad signals. I was on the 1M chart

For exit I just picked a number of pips I was happy with. I don't know what f4's exit rules are. I hope he's back soon to continue sharing his contributions.

Cheers!
Sandy

Long
1. 89/21 cci over 0
2. stochastic cross with green line above 50
3 heiken ashi turns white
4. !!MA turns green
4. QQE line above 50 (my addition)

Short
1. 89/21 cci under 0
2. stochastic cross with green line under 50
3 heiken ashi turns red
4. !!MA turns red
4. QQE line below50 (my addition)
  • #257
  • Dec 10, 2008 7:51am Dec 10, 2008 7:51am
Quoting eradicator
Hi Kino,
Was it a valid SELL signal for your template? Or was the valid signal lighted when the SMA50 was just crossed?
??? YES it is written in my post
don't you see =
....and a short just on the right beginning...

here another screen where it seems that 89 & 21 settings are good

kino
Attached Image (click to enlarge)
Click to Enlarge Name: cci89&21 seem to be better.gif Size: 26 KB
  • #258
  • Dec 10, 2008 7:52am Dec 10, 2008 7:52am
Kino i was using version 3 of buycount and it looked pretty accurate in terms of price movement. Are you going to release version 4 soon or are you still testing?

Thanks!
Sandy
  • #259
  • Dec 10, 2008 8:04am Dec 10, 2008 8:04am
Quoting kinonen
??? YES it is written in my post
don't you see =
....and a short just on the right beginning...

here another screen where it seems that 89 & 21 settings are good

kino
Hi, Kino...

I've just searched thru all the attachments and cannot find your cci_rsi_v4 indi as shown in your last post... could only find v2. Could you please post v4 (or point me to where it is), it looks great

thanks,
Deanna
  • #260
  • Dec 10, 2008 8:17am Dec 10, 2008 8:17am
Quoting reza_oscar
Yes, you can use WA Explosion to confirm entry or show you the exit point:

Attachment

Attachment
can you share your indi on the top right (with clocks)
thanks

kino
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