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JungleLion Scalping System

  • #61
  • Dec 12, 2008 5:06pm Dec 12, 2008 5:06pm
junglelion, can you create some sort of video so we can see you trade live. I find this hard to believe that you can pick up these many pips. Honestly , you must have at lease 1 million dollars. If you are legit I would love to learn how you master this. There must be a way you can explain yourself on how your trades go down and exactly what to look for. Whats your favorit pair?
  • #62
  • Dec 12, 2008 6:05pm Dec 12, 2008 6:05pm
Quoting aelimian
Great. Are you using the system on 1 minute?
Also are you using EA for stops?
I'm using it on M5...haven't tried M1 yet...and No I'm not using the EA for stops at the moment...
  • #63
  • Dec 12, 2008 6:41pm Dec 12, 2008 6:41pm
my backtests are bad
holyshit is giving pending errors the cause of not having enough money.
and tc's EA does not pend any buy-sell order at back testing.

im sending error logs. pls help mee

For holyshit
Quote
02:38:07 holyshit: loaded successfully
02:38:14 TestGenerator: unmatched data error (high value 1.3373 at 2008.12.01 19:55 is not reached from the least timeframe, high price 1.2688 mismatches)
02:38:27 holyshit started for testing
02:38:27 2008.11.02 23:00...

For TC's EA

Quote
02:38:39 trendchaser EURUSD,M5: loaded successfully
02:38:39 T3MA EURUSD,M5: removed
02:38:44 TestGenerator: unmatched data error (high value 1.3373 at 2008.12.01 19:55 is not reached from the least timeframe, high price 1.2688 mismatches)
02:38:44 trendchaser started for testing
02:38:44 2008.11.02 23:00...
  • #64
  • Dec 12, 2008 6:45pm Dec 12, 2008 6:45pm
Quoting junglelion
in scalping your decision should be based on:

  1. the current PA on the current chart
  2. the PA on the next higher and/or the next lower timeframe.
  3. the expected news time if there is any.
  4. the tick volume.

most important is to make sure you know the trend based on at least 2 time frames.

intelligent trading wins,

If trading the 1min, you need to know the trend on 5 and 15 min?
Could you use the same indicators to show trend on these higher timeframes?
Maybe only trade in direction of xpma?
  • #65
  • Dec 12, 2008 9:08pm Dec 12, 2008 9:08pm
Quoting eradicator
my backtests are bad
holyshit is giving pending errors the cause of not having enough money.
and tc's EA does not pend any buy-sell order at back testing.

im sending error logs. pls help mee

For holyshit


For TC's EA
holyshit was designed just for fun not for practical trades, i won't use it on live ever.

trendchaser is designed by the forum id "trendchaser" so he is the guy to ask in case of errors.
  • #66
  • Dec 12, 2008 9:59pm Dec 12, 2008 9:59pm
Thus thread was a waist of my time. Thanks anyways, I am out of here. You sound like a bunch of bull.
  • #67
  • Dec 12, 2008 10:11pm Dec 12, 2008 10:11pm
Quoting bigbear777
junglelion, can you create some sort of video so we can see you trade live. I find this hard to believe that you can pick up these many pips. Honestly , you must have at lease 1 million dollars. If you are legit I would love to learn how you master this. There must be a way you can explain yourself on how your trades go down and exactly what to look for. Whats your favorit pair?
like i said before, i have been posting charts on the auslanco thread, follow them.

what can i do when the range is obvious.
  • #68
  • Dec 12, 2008 10:14pm Dec 12, 2008 10:14pm
Quoting Islander
Agreed - I'm now spending more time on the 1m as I'm liking the action - trade for a couple of hours around FO /LO, bag a bunch of pips and then take a break till the NY guys start from 8am est onwards and grab some more pips....

The xpMA reminds me of the trigger lines indy - but smoother....I'm testing with just the T3MA set to 13 - its much better than any MAs that I've used, very smooth and close to the action at TPs....
raw data feed is dangerous to trade on, close to suicide.

xpma smoothens the price so we can get a better playing ground.

price smoothening is something which is the basis for quality trades.

trading only based on candles is close to trading the raw feed, and bound to create a mess.
  • #69
  • Dec 13, 2008 11:59am Dec 13, 2008 11:59am
no problem
Attached Image
  • #70
  • Dec 13, 2008 12:15pm Dec 13, 2008 12:15pm
This method is suicide without any proper guidelines by the author. Very dangerous for any newcomer.
  • #71
  • Dec 13, 2008 4:39pm Dec 13, 2008 4:39pm
I demo traded holyshit. It burned up a 5k account in 3 hours at 100:1 on only two pairs. Eurusd and Gbpusd. Thats fast.
  • #72
  • Dec 13, 2008 6:24pm Dec 13, 2008 6:24pm
Quoting ukcool
This method is suicide without any proper guidelines by the author. Very dangerous for any newcomer.
its not suicide. i've said earlier it does help with my other systems as confirmation. By itself there is a lot of whipsaw you can get caught with.

And watch out for huge candle moves that causes the cross. price usually retraces the following candles.
  • #73
  • Dec 13, 2008 9:17pm Dec 13, 2008 9:17pm
Quoting junglelion
HolyShit

Just finished writing an EA.

Works fine only on daily charts and eurusd.

MM is horrible but the results are good.

The EA will work only when the T3ma.mq4 indicator is present in the indicators folder.
Does the EA exit based on another cross? or predetermined profit target?
  • #74
  • Dec 13, 2008 11:09pm Dec 13, 2008 11:09pm
Quoting junglelion
no problem
Thanks

Your system is different from mine, what it has in common is that price and an MA crosses a hull, thats all.

I would suggest, if I can, some kind of filter in your system.

Good luck.
  • #75
  • Dec 14, 2008 1:31am Dec 14, 2008 1:31am
Quoting jarcrocker
I demo traded holyshit. It burned up a 5k account in 3 hours at 100:1 on only two pairs. Eurusd and Gbpusd. Thats fast.
whats written in post #65
  • #76
  • Dec 14, 2008 1:33am Dec 14, 2008 1:33am
Quoting ukcool
This method is suicide without any proper guidelines by the author. Very dangerous for any newcomer.
unless you demo trade and learn it thoroughly well, you should never try a system on live that is the primary rule in forex.
  • #77
  • Dec 14, 2008 12:01pm Dec 14, 2008 12:01pm
Scalp conditions:

 

  1. Avoid scalping when the xpma line is flat, this is a consolidation stage and dangerous.
  2. Scalp only when we are near vertical.
  3. Closer to vertical is stronger trend, closer to flat is weaker trend.
  4. So we trade only strong trends.

  1. Define trade range before you begin with both the weekly fib lines and 60 period murrey lines.
  2. Weekly lines are stronger than the murrey lines.
  3. Plan your trades then trade your plan.
  4. And for gods sake keep your eyes open.

  • #78
  • Dec 14, 2008 2:12pm Dec 14, 2008 2:12pm
Entries just because the lines crosses in completely risky and wrong.

Instead,why don't we apply good ol' price action and use the cross just as a heads up. Wait for a pullback and the go ride on the wave. Get your stop-loss at the there side of the swing, just in case and pull out if you get either a cross or a big ass candle moving against you.

Still a quick trade but I suggest instead of having a fixed amount of pips, just ride the wave until you see no reason why to stay on the ride, or a cross.
Attached Image (click to enlarge)
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  • #79
  • Dec 14, 2008 3:01pm Dec 14, 2008 3:01pm
Quoting wiztrader
Entries just because the lines crosses in completely risky and wrong.

Instead,why don't we apply good ol' price action and use the cross just as a heads up. Wait for a pullback and the go ride on the wave. Get your stop-loss at the there side of the swing, just in case and pull out if you get either a cross or a big ass candle moving against you.

Still a quick trade but I suggest instead of having a fixed amount of pips, just ride the wave until you see no reason why to stay on the ride, or a cross.
What about the direction of the 200MA and 50MA on the chart?
Only take long trades when both of these MAs are pointing up and shorts when they are pointing down?
  • #80
  • Dec 14, 2008 8:41pm Dec 14, 2008 8:41pm
Good morning folks

A lovely day today, but darn slow in the asian session.

Daily and 4hour is up, so i will be rather careful with shorts. But so far its been a good experience.
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 11 KB
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