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FX-50 Great Scalping System

  • #521
  • Dec 13, 2008 9:37am Dec 13, 2008 9:37am
Quoting ninpojutsu
Hello!
I want to tell you that many changes and new indicators to be added to the system, we will always have bad trades in 1M TF.
There is no perfect combination, in my case that, I always think it operates on 1M and I realize that 1M tf not be good for trend indicators, now that I learn that after several failures by so I am constantly in my winnings !
Please believe that you are giving him too many laps to the system and never find the end!
It's just my opinion!

Thanks for your work!
Ninja,

You will always have bad trades on any time frame using any system!! Why dont we all just give up and become professional golfers.



Dallas
  • #522
  • Dec 13, 2008 11:20am Dec 13, 2008 11:20am
Gentlemen,

Rather than bash it...why not debate the merits of it. Why should it be used or why not.....with chart examples and a rationale, etc.

There were very specific trades that this filter is intended to take...not all trades. And if you take all trades, then it will whip you badly.

At least then the discussion is productive.

For the record, I don't use it.

Cheers
CanuckCT
  • #523
  • Dec 13, 2008 11:31am Dec 13, 2008 11:31am
Quoting redpine
This is one of those paths I need to explore. The basic thought is that markets cycle and if you can understand this cycling through DSP, then you can predict where the market will go. But then again, it may all just be noise.

Rather than me trying to explain it, follow the link below.

http://www.mesasoftware.com/Seminars...20May%2003.ppt
Real interesting! Thanks for sharing. This could provide a less lagging entry and exit signal.
  • #524
  • Edited 12:19pm Dec 13, 2008 11:45am | Edited 12:19pm
Quoting CanuckCT
Gentlemen,

Rather than bash it...why not debate the merits of it. Why should it be used or why not.....with chart examples and a rationale, etc.

There were very specific trades that this filter is intended to take...not all trades. And if you take all trades, then it will whip you badly.

At least then the discussion is productive.

For the record, I don't use it.

Cheers
CanuckCT
Very well said Sir! Basically what I was trying to say, but in a nicer way.

Happy Trading!
  • #525
  • Dec 13, 2008 1:16pm Dec 13, 2008 1:16pm
You've got to be joking! Compared to all the childish and juvenile behavior that's considered normal for these pages, what I said was positively neutral and bland!

All I said in my original statement, was that if anyone FELT they were ripped off they could ask for and receive a full refund, just like I did.

I did NOT bash CD, his new system per se, or anything else! I'm perfectly entitled to FEEL anything I damn well please, and I also perfectly entitled to come here and warn of possible fraud, and to help others recover same as me.

If you don't feel the same, if you feel you got a fair deal, then good for you! What I said wasn't meant for you obviously, then was it? But I know for a fact that it did mean something to other members, and that's good enough for me!
" Average traders look to the left, great traders look to the right."
  • #526
  • Dec 13, 2008 2:26pm Dec 13, 2008 2:26pm
Quoting magicchance
You've got to be joking! Compared to all the childish and juvenile behavior that's considered normal for these pages, what I said was positively neutral and bland!

All I said in my original statement, was that if anyone FELT they were ripped off they could ask for and receive a full refund, just like I did.

I did NOT bash CD, his new system per se, or anything else! I'm perfectly entitled to FEEL anything I damn well please, and I also perfectly entitled to come here and warn of possible fraud, and to help others recover same as me.

If you...
Well now that you have that off your chest, hope you feel better!
  • #527
  • Edited 2:55pm Dec 13, 2008 2:42pm | Edited 2:55pm
Having some time on my hands I decided to take the 1M - 2M -5M & 15M time frames and do a comparison with identical entry and exit criteria for a random pick of the day last week ( 1 day only - cause it's a lot of work) based on the scalping method f4 and I use which is almost identical. He uses a couple of indicators I don't use, and I use a couple he doesn't - but all in all our systems are pretty close to one another. I was just curious which time frame would be better with my (our) strategy because I get burned out on the 1M.

Interesting results. I compared the time frames from starting at 3:00am GMT all the way to the market closing. Granted - 1 day's comparison does NOT mean it will be identical every day - but nonetheless I found the results informative and leads to ending some speculation on my part about the effectiveness of our strategy on various scalping time frames.

The profit or loss figures have had the brokerage spreads already figured in.

In essence, this is the results of that one day comparison: G/U
15M time frame: 5 trades (3 losses). Daily profit 35 pips
5M: 11 trades (2 losses = 82% win rate) Daily profit 220 pips.
2M: 25 trades (6 losses = 76% win rate) Daily profit 549 pips.
1M: 43 trades (12 losses = 72% win rate) Daily profit of 849 pips.
I had a string of 7 losses on the 1m starting around 19:00hrs GMT, but two good winners right afterwards before the market closed gained me pips over those losers.

P.S. I don't consider a system or test valid unless I can do it live, which was the case here. In the past whenever I'd do a backtest I noticed that after awhile I'd look at the trend in general and I'd subsconsciously change my exit or entry points, which actually negated the results of my testing. So this comparison was done minute by minute.
  • #528
  • Dec 13, 2008 3:12pm Dec 13, 2008 3:12pm
Quoting Flamenco143
Having some time on my hands I decided to take the 1M - 2M -5M & 15M time frames and do a comparison with identical entry and exit criteria for a random pick of the day last week ( 1 day only - cause it's a lot of work) based on the scalping method f4 and I use which is almost identical. He uses a couple of indicators I don't use, and I use a couple he doesn't - but all in all our systems are pretty close to one another. I was just curious which time frame would be better with my (our) strategy because I get burned out on the 1M.

Interesting results....
Flamenco what exit criteria did you use for this test? What other indicators do you use?

Thanks!
  • #529
  • Dec 13, 2008 3:21pm Dec 13, 2008 3:21pm
i hope you could explain how to get that full wide display on my forum window - it is a problem reading posts when someone uses the wide format. If you have solved that, please share the solution.
  • #530
  • Dec 13, 2008 3:28pm Dec 13, 2008 3:28pm
Quoting jjasper7
i hope you could explain how to get that full wide display on my forum window - it is a problem reading posts when someone uses the wide format. If you have solved that, please share the solution.
They need to stop using the Insert image button and use the manage attachment button instead. The insert seems to ignore the boundries.
  • #531
  • Dec 13, 2008 3:45pm Dec 13, 2008 3:45pm
ty, and is there anything I can do to widen my screen to read it without having to scroll sideways to get the full line? or someway to 'scroll' the page with new cr's?
  • #532
  • Dec 13, 2008 3:58pm Dec 13, 2008 3:58pm
Quoting Flamenco143
Having some time on my hands I decided to take the 1M - 2M -5M & 15M time frames and do a comparison with identical entry and exit criteria for a random pick of the day last week ( 1 day only - cause it's a lot of work) based on the scalping method f4 and I use which is almost identical. He uses a couple of indicators I don't use, and I use a couple he doesn't - but all in all our systems are pretty close to one another. I was just curious which time frame would be better with my (our) strategy because I get burned out on the 1M.

Interesting results....
I'm sure it's slapping me in the face but I can't find f4's method. Where is it posted???

Thanks
Mombone
  • #533
  • Edited 10:27pm Dec 13, 2008 4:02pm | Edited 10:27pm
Quoting DiemTrader
Flamenco what exit criteria did you use for this test? What other indicators do you use?

Thanks!
I use the Big Dog/Randy candles (which I introduced on the old thread) and I believe they're included in 4f's '1 mincurrent' template I posted here. But there is nothing wrong in using the original HAS candles. Once you learn to read them they give a wealth of information about trend strength! A back-up exit method (based on what the candles are telling me) is changes in the Guppy14/25 (I think f4 uses 12/25 but the difference is almost immaterial) and my main indicator is the BBMACD. But whatever indicators I use may not work for you. Find one or two that do and really get to know them well AND THEN TRUST IN THEM!

Sorry - not trying to be rude or secretative, it's just that I'm through posting detailed advise or indicators here anymore. I'm a pro-trader and I make a good living at it. Several times in the past I tried to help others here and advise them when I could see they were heading for trouble, and I got slammed for it and was basically told to mind my own business.

So that's exactly what I'm doing. I'm minding my own business. Right now I'm at SFO waiting for our flight to the Philippines, so I won't be able to access this thread for awhile. But I hope the information I gave you on the other stuff will help. You'll never go wrong following either 4fmnect or CanuckCT!
  • #534
  • Dec 13, 2008 4:11pm Dec 13, 2008 4:11pm
Quoting Mombone
I'm sure it's slapping me in the face but I can't find f4's method. Where is it posted???

Thanks
Mombone
http://www.forexfactory.com/showthre...89#post2407889

He has the Nonlagstoch added. It''s good, and needs no explanation on how to use it!
  • #535
  • Dec 13, 2008 4:15pm Dec 13, 2008 4:15pm
Quoting Flamenco143
http://www.forexfactory.com/showthre...89#post2407889

He has the Nonlagstoch added. It''s good, and needs no explanation on how to use it!
Thanks Flamenco

Mombone
  • #536
  • Dec 13, 2008 4:48pm Dec 13, 2008 4:48pm
Quoting Flamenco143
Having some time on my hands I decided to take the 1M - 2M -5M & 15M time frames and do a comparison with identical entry and exit criteria for a random pick of the day last week ( 1 day only - cause it's a lot of work) based on the scalping method f4 and I use which is almost identical. He uses a couple of indicators I don't use, and I use a couple he doesn't - but all in all our systems are pretty close to one another. I was just curious which time frame would be better with my (our) strategy because I get burned out on the 1M.

Interesting results....
Thanks for posting those results . I wonder if you considered which t/f had the least risk and I realize this is a really subjective question . It will be different for each of us . For me gaining about 50 pips daily with one or two trades is less time exposed hence less risk . Considering that maybe the higher t/f are a better way to exit after the 1 min entry . This is what I like so much about this system - it can work in a number of ways . Have a great trip , very envious , been there once .
  • #537
  • Dec 13, 2008 5:09pm Dec 13, 2008 5:09pm
Can i make a suggestion? as this is meant to be a continuation of the banned FXPrime thread, its seems to have decayed into a thread now with lots of new indicators, and new ways of trading and different setups and not just the FXPrime. (which will lead to the death of the thread as always happens).

lets stick only to the original method (V1) and now that V2 is out..... lets get all the good minds here trogether, and test it to see if we can make that filter work. the old thread was concentrated on the main fxprime setup. this thread has strayed offline to lots of different stuff.


lets bring it back on line, and concentrate on V1 & V2. especially V2 as its newly out and needs our input for testing !! lets post some results next week and anlyse them TOGETHER !!

already there are some conflicting results on it. I, for one, posted here a snapshot here last week using the filter..... BUT.... i was NOT using it properly NOR in the correct time period. i didnt use the mov avgs and you need to!! SO, its was not a valid reflection of it. my fault as the webinar had not been released at that stage. I then posted a trade b4 a news event, it worked well, but maybe just a fluke to the news being in the right dierection for the V2 signal.

So lets get our collectgive minds together and stick to the analysis of F4's Flamenco's and Canuckt's Version 1 setups (they're the best and work) and lets look closely at V2 and pick it apart and make it work for us... and work out if it needs tweaking or not !!

fair call??
  • #538
  • Dec 13, 2008 5:35pm Dec 13, 2008 5:35pm
Quoting rodhuy
Can i make a suggestion? as this is meant to be a continuation of the banned FXPrime thread, its seems to have decayed into a thread now with lots of new indicators, and new ways of trading and different setups and not just the FXPrime. (which will lead to the death of the thread as always happens).

lets stick only to the original method (V1) and now that V2 is out..... lets get all the good minds here trogether, and test it to see if we can make that filter work. the old thread was concentrated on the main fxprime setup. this thread has strayed...
Thank You rodhuy lets stick with the V1 and improve V2. It is getting too confusing for traders, so this being said the thread is for V1 adn V2 only!!! I will have more time next week, hopefully to help out. And thanks to all that are helping here.
fxtrading24
It Is Not The Exit That Concerns Me, As It Is The Re-Entry
  • #539
  • Edited 11:05pm Dec 13, 2008 10:13pm | Edited 11:05pm
Quoting thvi
..Hi
thank you thvi for the indis. are these version 10? though work nicely with V1 on backtesting with vhands.
  • #540
  • Edited 6:25am Dec 14, 2008 1:10am | Edited 6:25am
Greetings,

I have some perspective questions maybe this is just the old research scientist aspect of me coming out:

1)as I recollect the V1 method used by F4, Flamenco, etc. uses CCI 89/21, the original uses CCI 170/34. Has any one done a definitive comparison to see which of the two are more accurate or gives higher percentage trades.

2)When V1 first appeared on the horizon there was confusion as to the RSI being used because it was stated to be an 8 as I recalled, but that particular indicator latched the RSI at 14 or vice versa - its been a few months. Maybe its unneccessary but if we are doing definitive test maybe both the original and F4's system need to optimized using the best RSI settings what ever they maybe. Then test the optimized systems against each other. I myself use RSI 12 44/56 and I'm quite sure there are others - just a thought.

3)Last is the V2 Filter, I've looked at all of them and there is something troubling to me. The original and F4 system uses different CCI's but all of the different versions of V2 filters use a CCI 50 for the short, and a 170 for the long. Now while these settings might be okay for the original, It just seems odd to me to slap this filter on F4's 21/89 system without modifying the filter CCI settings downward a little.


Just some thoughts, and yes I know a lot of work.


Dallas
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