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FX-50 Great Scalping System

  • #1,021
  • Dec 21, 2008 5:17am Dec 21, 2008 5:17am
Quoting maxzeus
i am updating the guide to make it more simple, more based on F4's settings,
Excellent idea, just what this thread needs, some focus and a solid set of ground rules to digest and learn to the letter. I'm very much looking forward to this maxzeus

Maybe u can call it the FX-50 Bible? We all know the Holy Grail is mentioned in the Bible so there would be a place waiting for it at some point in the future should it ever turn up.

steve
  • #1,022
  • Dec 21, 2008 6:53am Dec 21, 2008 6:53am
i am new here, probably its a silly question, what does those purple dots represent here?


Quoting John Edwards
Most likely you have entered the canges under EA settings...... That won't do the trick..... Anyway the one below the picture...

Just now you can see the better entry on EurUsd...... Secondly I have noticed that especially on the long runs...... it now also helps to find good or better exits.... Look at both examples on the chart...

Cheers, John
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  • #1,023
  • Dec 21, 2008 7:23am Dec 21, 2008 7:23am
Quoting m3trail
i am new here, probably its a silly question, what does those purple dots represent here?
Greetings,

Those dots are generated whenever the short CCI crosses the zero line, so that either CCI34, or CCI21 based on whatever system your using.


Dallas
  • #1,024
  • Edited 10:54am Dec 21, 2008 7:58am | Edited 10:54am
I backtested FXPrime v1 and v2 both with the same exit CCI crosses 0 with the mt strategy tester.
My results show that the original v1 is the most profitable.
Main difference between the 2 systems is that v2 also takes trades where trend cci follows entry cci, whereas in the original v1 trend cci must cross 0 before entry cci.
V2 tries to compensate too many false signals besides other mechanisms with the ma-filter, that says, that an ma cross in trade direction should happen shortly before the trade. That improves the results of v2 without ever reaching v1 results. v1 results don't improve with such an ma filter.
I would recommend to trade original v1 with entry cci 34 following trend cci 170 and with one additional filter condition: trend cci should be > 100 for buys and < 100 for sells. This condition showed the best results.
A 89-21-cci-system turned out to be even less profitable than v2. I have not tested f4mnect's guppy bounces.
  • #1,025
  • Dec 21, 2008 9:32am Dec 21, 2008 9:32am
Quoting ChrisM
I backtested v1 and v2 both with the same exit CCI crosses...
yes stick with vi I will redo Post one, once I get a few things finished, I will try for today
It Is Not The Exit That Concerns Me, As It Is The Re-Entry
  • #1,026
  • Dec 21, 2008 10:47am Dec 21, 2008 10:47am
I have updated post 1
It Is Not The Exit That Concerns Me, As It Is The Re-Entry
  • #1,027
  • Dec 21, 2008 11:01am Dec 21, 2008 11:01am
I checked out your new updated post. It looks nice but I bet you will receive a lot of confusing questions about the entry. Early entry, false entry and so on. For some reason I liked that first one better. But in the end everybody has to decide which system they trade.

D.
  • #1,028
  • Dec 21, 2008 11:14am Dec 21, 2008 11:14am
Quoting DirkH143
I checked out your new updated post. It looks nice but I bet you will receive a lot of confusing questions about the entry. Early entry, false entry and so on. For some reason I liked that first one better. But in the end everybody has to decide which system they trade.

D.
That is something traders need to learn and all of us try different methods of entry and exits. Just trade on demos and see what works best for you as the trader.
It Is Not The Exit That Concerns Me, As It Is The Re-Entry
  • #1,029
  • Dec 21, 2008 11:35am Dec 21, 2008 11:35am
One thing I really appreciate in this thread is that there is so much help from all people despite some trouble makers from time to time. If you stay up to date with this thread it helps a lot.

D.
  • #1,030
  • Dec 21, 2008 1:52pm Dec 21, 2008 1:52pm
Quoting DirkH143
One thing I really appreciate in this thread is that there is so much help from all people despite some trouble makers from time to time. If you stay up to date with this thread it helps a lot.

D.
Ya derk there is allot of good info here, the only problem is I think all the excitement and hope everyone had with version 2 set us back a little.
That is why I posted the v1 with the mods from fxmnect and Kino and ? still seems to be the best.
It Is Not The Exit That Concerns Me, As It Is The Re-Entry
  • #1,031
  • Dec 21, 2008 2:02pm Dec 21, 2008 2:02pm
Here is the trade simulator if anyone wants it.
Attached File(s)
File Type: zip Trade Simulator.zip   491 KB | 890 downloads
It Is Not The Exit That Concerns Me, As It Is The Re-Entry
  • #1,032
  • Dec 21, 2008 5:24pm Dec 21, 2008 5:24pm
'So here is basicly version one, with some mods'

Whoaaaaa! That's a bit more than fxp V1 with some mods! It looks like a different system completely and is really isn't it? New indicators, inchart MA's, diff entry rules, more indicators need to allign, shorter periods on the CCI indi, use of bars plus candles.

I'm not complaining atall, really looking forward to seeing how this works, but this is a far more sophisticated system than fxprime. FX-50V1 I'll go along with that. Good work all involved. Lets trade this baby!!!
  • #1,033
  • Dec 21, 2008 5:40pm Dec 21, 2008 5:40pm
Quoting stevexyg
'So here is basicly version one, with some mods'

Whoaaaaa! That's a bit more than fxp V1 with some mods! It looks like a different system completely and is really isn't it? New indicators, inchart MA's, diff entry rules, more indicators need to allign, shorter periods on the CCI indi, use of bars plus candles.

I'm not complaining atall, really looking forward to seeing how this works, but this is a far more sophisticated system than fxprime. FX-50V1 I'll go along with that. Good work all involved. Lets trade this baby!!!
From my point of view the problem is that the shorter cci periods and other modifications of the original v1 system (trend cci may follow entry cci) don't result in higher profitability. As my backtest showed, the opposite is the case. So I would prefer to go back to original FXPrime v.1.
  • #1,034
  • Edited 5:56pm Dec 21, 2008 5:51pm | Edited 5:56pm
But your exit strategy plays a huge parrt in profitability Chris, what wrere you using in the backtest? If it's the entry cci retouching zero then I think that has been shown to give back too many pips and S/R lines and price action (stalling say) are almost always better exit points. So with user exits this version could perform better - only real time live/demo trading would show.

Also with the 170/34 settings u can be waiting for hours to get a good signal while takeable pips fly by, sometimes hundreads. 170/34 works but u have to have hours and hours free to watch the markets.

BTW what IS the exit strategy and cci cross sequence is not now in the rules? Also is there a stop-loss amount rule?

Chers, steve
  • #1,035
  • Dec 21, 2008 6:11pm Dec 21, 2008 6:11pm
Quoting ChrisM
From my point of view the problem is that the shorter cci periods and other modifications of the original v1 system (trend cci may follow entry cci) don't result in higher profitability. As my backtest showed, the opposite is the case. So I would prefer to go back to original FXPrime v.1.
It is all in what you prefer Chris, with this hopefully we can catch more small trends. I am going to trade with it all this week and see how it performes. I did great with the simulator with this setup so I hop it does good live.
It Is Not The Exit That Concerns Me, As It Is The Re-Entry
  • #1,036
  • Dec 21, 2008 6:19pm Dec 21, 2008 6:19pm
Hey all don't get me wrong I am still working on V2 to get it profitable, I will post it when I feel it is profitable and gets us in good trades.
It just takes allot of time to test different settings, and different market conditions.
It Is Not The Exit That Concerns Me, As It Is The Re-Entry
  • #1,037
  • Edited Dec 22, 2008 1:13am Dec 21, 2008 6:42pm | Edited Dec 22, 2008 1:13am
Quoting fxtrading24

Here is the rules

Short Trade
2, 21 And 55 MA's cross, Kino cci is Bright Red and entry CCI Yellow line is below 50, Stochastic is Red below the 0 line and ZLS white line is below the red line. You have better chances of good entry if the ZLS is below the 0 line.
http://img132.imageshack.us/img132/7440/fx5010gl6.gif

Fxtrading,
Thanx alot for the example at post#1, appreciate very much if u can answer few questions.

A) First Entry;
1) Why take entry when 12/21 and 55 MA’s not cross yet? Is this a rebounce entry? What is the rule for rebounce?
2) Why take entry at Dark Red (Maroon Red)? According to the rule we need to take entry at Bright Red right?
3) Exit when candle turn to white right?
4) “You have better chances of good entry if the ZLS is below the 0 line”. Where is 0 Line, I can only see 50 line at ZLS chart?

B) Second Entry;
1) Why take entry when 12/21 and 55 MA’s not cross yet?
2) Why take entry at Dark Red (Maroon Red)?

C) Can I take entry at the red line? Is this a valid entry? I think this entry follow the new rules.

Merry Xmas & Happy Holiday Everybody
  • #1,038
  • Dec 21, 2008 11:02pm Dec 21, 2008 11:02pm
Quoting wear
Fxtrading,
Thanx alot for the example at post#1, appreciate very much if u can answer few questions.

A) First Entry;
1) Why take entry when 12/21 and 55 MA’s not cross yet? Is this a rebounce entry? What is the rule for rebounce?
2) Why take entry at Dark Red (Maroon Red)? According to the rule we need to take entry at Bright Red right?
3) Exit when candle turn to white right?
4) “You have better chances of good entry if the ZLS is below the...
1st..want to thank fxtrading24 for the effort and making noob like me has a different perspective in scalp..
Point taken there wear....i also need an answer for that..

1)for entry..logically if the chart is moving..we'll never know either the next histo bar will be dark or bright red..or is there anything we over look for an entry?

2)also wish to know about the rebounce rules..

thnx
  • #1,039
  • Dec 22, 2008 1:39am Dec 22, 2008 1:39am
1M bouncing can be easily regconise using belows setting:

1) Storch RSI
2) BOL 18
3) Tor ADX

Buy condition:
1) Closing pprice bar is crossing over BOL lower band
2) closing price is lesser then opening price(it means RED bar)
3) buy when previous Storch RSI <=1 and current previous Storch RSI > 1
4) ADX for 5M showing BUY (blue)

exit when Storch reach 70 or up to your own judgement.
SL always 20 pip for EU.

Sell condition is vice versa.

sample screen:

Attached Image (click to enlarge)
Click to Enlarge Name: sample1.JPG Size: 112 KB
  • #1,040
  • Dec 22, 2008 2:45am Dec 22, 2008 2:45am
Siobi,

've been looking for this type of ADX for a while, thought I might have to write one myself; now I dont.


Thanks
Dallas
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