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eur/usd scalping method

  • #201
  • Jan 8, 2009 12:26pm Jan 8, 2009 12:26pm
Quoting PTOURNIS
Cierco,

Your text is a little confusing. You have nothing but winning trades but they are not in sequential date order. Then most of your floating trades are losses. Can you explain?

Pete
Hi,
95% of trades are opened for less as 2 minutes.
Some trades are opened for few hours, Forex is unpredictable.
Floating trades are losses-yes, because my TP is only 5pips,
if not hit TP, min. profit is 2 pips.
Scalping is not 60 pips take profit.
How many hours you need to take this profit?
Cicero
  • #202
  • Jan 8, 2009 12:27pm Jan 8, 2009 12:27pm
Quoting Cicero2008
Hi,
I am sorry but I do not understand,
scalping strategy with 30 pips take profit?
Can you tell me what scalping it is?
Thanks.
Cicero

True scalping involves opening and closing a position in seconds or minutes at most. Even though scalping involves the use of leverage and higher leverage means higher risk, the short period of time a forex scalper is in a trade decreases the exposure risk that's inherent in trading or investing due to the holding of a position. If done correctly, scalping provides this additional degree of "risk control" that is not even present in day trading.
Time is what keeps everything from happening "right now".
  • #203
  • Jan 8, 2009 12:37pm Jan 8, 2009 12:37pm
Quoting Dv84
True scalping involves opening and closing a position in seconds or minutes at most. Even though scalping involves the use of leverage and higher leverage means higher risk, the short period of time a forex scalper is in a trade decreases the exposure risk that's inherent in trading or investing due to the holding of a position. If done correctly, scalping provides this additional degree of "risk control" that is not even present in day trading.
This is a definition of scalping.
Thanks Dv84.
Cicero
  • #204
  • Jan 8, 2009 12:55pm Jan 8, 2009 12:55pm
Quoting Dv84
True scalping involves opening and closing a position in seconds or minutes at most. Even though scalping involves the use of leverage and higher leverage means higher risk, the short period of time a forex scalper is in a trade decreases the exposure risk that's inherent in trading or investing due to the holding of a position. If done correctly, scalping provides this additional degree of "risk control" that is not even present in day trading.
I'm trying to understand the definition here... Please correct me if I'm wrong.

So, this means you exit the trade in max few minutes? Either its profit or loss? I'am asking this because, based on the statement posted by Cicero2008 it appears that there is no risk control. It seems he close the position only if it turns to profit, which also means there should be enough equity / balance to handle that much drawdown.

So the question again is, are those trades scalping?

Thanks
Karun
  • #205
  • Jan 8, 2009 1:21pm Jan 8, 2009 1:21pm
Quoting karun
I'm trying to understand the definition here... Please correct me if I'm wrong.

So, this means you exit the trade in max few minutes? Either its profit or loss? I'am asking this because, based on the statement posted by Cicero2008 it appears that there is no risk control. It seems he close the position only if it turns to profit, which also means there should be enough equity / balance to handle that much drawdown.

So the question again is, are those trades scalping?

Thanks
Karun
Hi,
exit- less as 2 minutes
max drawdown- 20%
hiden stop loses
start with 0.10 lot
max 50% from profit at risk
Cicero
  • #206
  • Jan 8, 2009 1:49pm Jan 8, 2009 1:49pm
Well to me it all depends on what YOU feel scalping is. Like me for instance i do this and i consider it scalping even tho i do not always close orders in less then 2 min or what ever.

Entry Signal Met Open Order
Wait for +5 set SL to +1
Wait for +10 set SL at +5
and so on.
Also depends on my mood and how the market is moving is how i set my SL
If i have not gotten to +5 and had a chance to set my SL to Breakeven or what not i wait for next signal. I know that with correct money managment that i will basicly never get to -20% of my account before my exit signal comes in and i close the trade.
Remember you cant trade with a system unless you understand it and feel it and trust it.
Time is what keeps everything from happening "right now".
  • #207
  • Jan 8, 2009 2:01pm Jan 8, 2009 2:01pm
This SL strategy is not bad.

Quoting Dv84
Well to me it all depends on what YOU feel scalping is. Like me for instance i do this and i consider it scalping even tho i do not always close orders in less then 2 min or what ever.

Entry Signal Met Open Order
Wait for +5 set SL to +1
Wait for +10 set SL at +5
and so on.
Also depends on my mood and how the market is moving is how i set my SL
If i have not gotten to +5 and had a chance to set my SL to Breakeven or what not i wait for next signal. I know that with correct money managment that i will basicly never get to -20% of my account before...
  • #208
  • Jan 8, 2009 2:12pm Jan 8, 2009 2:12pm
Thanks Dv84 & Cicero.

But 20% isnt a big chunk? I always heard not risking of more than 3% as better MM.
  • #209
  • Jan 8, 2009 2:34pm Jan 8, 2009 2:34pm
Quoting karun
Thanks Dv84 & Cicero.

But 20% isnt a big chunk? I always heard not risking of more than 3% as better MM.
Yea 20% is a huge chunk. I never go under 5%
Time is what keeps everything from happening "right now".
  • #210
  • Jan 8, 2009 2:54pm Jan 8, 2009 2:54pm
Quoting Dv84
Yea 20% is a huge chunk. I never go under 5%
If you have mini account with $500, yes it is huge chunk.
Max what I have on this account was 2%.
I will change EA for only 5%. Thanks
  • #211
  • Jan 8, 2009 2:54pm Jan 8, 2009 2:54pm
Found a fa way to filter out the bad slopes.

Make sure you download everything in this thread then download this template and place it in your mt4 template folder.

Enter when everything is all the same color and AO is pointing in the same direction. exit rules are the same.
Attached File(s)
File Type: tpl sniperknockoffv2.tpl   3 KB | 680 downloads
  • #212
  • Jan 8, 2009 4:37pm Jan 8, 2009 4:37pm
Quoting ^eagle^
Found a fa way to filter out the bad slopes.

Make sure you download everything in this thread then download this template and place it in your mt4 template folder.

Enter when everything is all the same color and AO is pointing in the same direction. exit rules are the same.

Can you post a screen shot?

Thanks
D.
  • #213
  • Jan 8, 2009 4:43pm Jan 8, 2009 4:43pm
Quoting ^eagle^
Found a fa way to filter out the bad slopes.

Make sure you download everything in this thread then download this template and place it in your mt4 template folder.

Enter when everything is all the same color and AO is pointing in the same direction. exit rules are the same.
When I uploaded you latest template no slope lines appeared. And yes, I do have them in my indi's folder.

Just thought you should know.

thanks,
revrobwimb
  • #214
  • Jan 8, 2009 4:55pm Jan 8, 2009 4:55pm
Quoting revrobwimb
When I uploaded you latest template no slope lines appeared. And yes, I do have them in my indi's folder.

Just thought you should know.

thanks,
revrobwimb
Which version of the slope lines?

Look in the "Experts" and the "Journal" tab and see if there are any errors.
  • #215
  • Jan 8, 2009 5:36pm Jan 8, 2009 5:36pm
Quoting Ronald Raygun
Which version of the slope lines?

Look in the "Experts" and the "Journal" tab and see if there are any errors.
I've got both versions... still no slope lines. No errors in the experts, or journal.
  • #216
  • Jan 8, 2009 8:26pm Jan 8, 2009 8:26pm
Quoting revrobwimb
When I uploaded you latest template no slope lines appeared. And yes, I do have them in my indi's folder.

Just thought you should know.

thanks,
revrobwimb

try this. Not sure what happened
Attached File(s)
File Type: tpl sniperknockoff.tpl   3 KB | 557 downloads
  • #217
  • Jan 8, 2009 8:48pm Jan 8, 2009 8:48pm
http://www.forexfactory.com/[IMG...ing/sniper.jpg[/IMG]http://www.forexfactory.com/[IMG...ing/sniper.jpg[/IMG]http://i7.photobucket.com/albums/y28...ing/sniper.jpg


Heres a screen shot of what it should look like The only trend that was tradeable here was the sharp downtrend in the middle. AO's are red AND pointing dwon. All slope lines and PSARS are red.

The uptrends are not tradeable because even though everything is all blue the AO lines are still pointing down instead of up so no trade.
  • #218
  • Jan 8, 2009 9:25pm Jan 8, 2009 9:25pm
Quoting salvabalza
I think people should understand general using of EAs before applying one...

Anyway, to avoid EA closing trades, you must change the "Magic Number" parameter to anything different from 0.

Solved the closing issue but EA still can't open trades. Have done the things required in the past 2 pages but still no open trades.
  • #219
  • Jan 8, 2009 11:31pm Jan 8, 2009 11:31pm
Quoting ^eagle^
http://www.forexfactory.com/[IMG...ing/sniper.jpg[/IMG]http://www.forexfactory.com/[IMG...ing/sniper.jpg[/IMG]http://i7.photobucket.com/albums/y28...ing/sniper.jpg


Heres a screen shot of what it should look like The only trend that was tradeable here was the sharp downtrend in the middle. AO's are red AND pointing dwon. All slope lines and PSARS are red.

The uptrends are not tradeable because even though...
Hi Eagle,

There is something very different about your screen shot and that of your template. On your screenshot, the AO and PSAR are perfectly aligned. With your template the PSAR is 4 candles tardy in making the changeover. The template version apparently uses our standard .02, and .2 settings. Have you made some custom settings that aligns the PSAR with the AO?

Thanks for sharing!
Bob
  • #220
  • Jan 9, 2009 12:18am Jan 9, 2009 12:18am
Quoting ^eagle^
try this. Not sure what happened
For some reason I still can't get the slope lines to appear from your template.

Since I have them all from this thread.. could you please post the settings for all three and I will add them manually...

Thanks,
revrobwimb
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