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FX-50 Great Scalping System

  • #1,281
  • Edited 8:20pm Jan 14, 2009 8:03pm | Edited 8:20pm
Linking purposes only also for some that use the zerolag i found an Alerter, but it needs to find the zerolagstochs.mq4 in your indicators folder
Attached File(s)
File Type: mq4 ZeroLagStochsSignals.mq4   2 KB | 1,019 downloads
File Type: mq4 Zerolagstochs.mq4   3 KB | 714 downloads
File Type: mq4 RSI_WithAlert.mq4   4 KB | 764 downloads
File Type: mq4 T3_RSI_alert.mq4   3 KB | 703 downloads
Don't forget Practice + Patience + Persistence = Profits
  • #1,282
  • Jan 15, 2009 2:36am Jan 15, 2009 2:36am
Quoting avi
first thnx but when i put it on the chart its empty??? help
its working?
  • #1,283
  • Jan 15, 2009 3:06am Jan 15, 2009 3:06am
Quoting fxtrading24
I am looking more at trading the 5 minute time frame for trading.
Me2
I am done with m1, to many whipsaws. I look at M5 and decide entry on M1 (mostly demotrade, sometimes live trading. Just because I lost confidence in my tradingstyle last monthes and that was because of looking too much at M1)

Nice to see you back again FX24
Trading S/R with PA only. No indicators anymore!
  • #1,284
  • Jan 15, 2009 3:17am Jan 15, 2009 3:17am
Quoting Jazz1964
Me2
I am done with m1, to many whipsaws. I look at M5 and decide entry on M1 (mostly demotrade, sometimes live trading. Just because I lost confidence in my tradingstyle last monthes and that was because of looking too much at M1)

Nice to see you back again FX24
I think the problem is that the market is to choppy. It is hard to get a clear entry point. This whole week you can forget the GBP/USD, because it is extremly choppy. The EUR/USD is still ok and the EUR/JPY is good too. I just hope that next week will be better.

D.
  • #1,285
  • Jan 15, 2009 6:22am Jan 15, 2009 6:22am
Quoting DirkH143
I think the problem is that the market is to choppy. It is hard to get a clear entry point. This whole week you can forget the GBP/USD, because it is extremly choppy. The EUR/USD is still ok and the EUR/JPY is good too. I just hope that next week will be better.

D.

other than my balance getting smaller and smaller ......how can one determine that the market is too choppy to enter? Can you tell just by looking at the chart? Is there an indicator that's good at this? even something like FX sidewinder often give green signals while very choppy. Your system says trade then 20pip candle up next one is 20 pip candle down. I get into trouble cause I don't know well enough to stay out during these times.
Isolate yourself from the herd
  • #1,286
  • Edited 8:57am Jan 15, 2009 7:59am | Edited 8:57am
Quoting forexweasel
other than my balance getting smaller and smaller ......how can one determine that the market is too choppy to enter?
Market is only getting worse and less I believe I can one day make money trading forex. Sure, every system has its ups and downs, but every single one I traded always manages to make me lose more than what I profit. Then I see people claiming to make 100+ pips a day and I tried to learn from their posts and smart charts. They post with such expertise with trend lines and modified indicators, but the funny thing is that these same people keep popping here and there in every forum and every new thread downloading someone else's uploaded indicator and trying to learn a new system from a perfect newbie that just discovered the forex freedom bars ind. or an ma that changes color when the trend changes direction. Then the ones that open a new thread showing a new system and pretending to be "the master traders." Three or four months later you see them leave to do hourly forex tutoring or to sell their systems in the net so they will never have to trade again. I am like
  • #1,287
  • Jan 15, 2009 8:33am Jan 15, 2009 8:33am
We need a chat-room.
  • #1,288
  • Edited 7:56pm Jan 15, 2009 9:27am | Edited 7:56pm
Quoting Artifiz
Market is only getting worse and less I believe I can one day make money trading forex. Sure, every system has its ups and downs, but every single one I traded always manages to make me lose more than what I profit. Then I see people claiming to make 100+ pips a day and I tried to learn from their posts and smart charts. They post with such expertise with trend lines and modified indicators, but the funny thing is that these same people keep popping here and there in every forum and every new thread downloading someone else's uploaded indicator...
There's a lot of truth to what you said. However, equally true is that there ARE traders still using the orginal system and making good money, BUT NOT UNDER THESE current conditions. I said many times in previous posts that I don't trade between Thanksgiving and at the earliest the second week of Jan because the markets are always crazy then. Now I think it's compounded by the world waiting for Obama and his Economic Recovery package to see if it's going to work to some degree.

I still use the original system (somewhat) WHEN I TRADE with the Double Woodie set to 89/21 (thanx f4!) the QQE instead of the RSI, but added the BBMACD (thanx CunuckCT) which has been a tremendous help in entering and exiting better.

I left this thread because I was getting slammed by newbees when I tried to correct and advise them of what I saw was serious mistakes in their addition of bad indicators (or way too many) or were making other mistakes I myself had made trading in the past. I was told to mind my own business.

But don't be discouraged! Stick to the original system (with any modifications that work for you) and just give the markets time to settle down. Even with my great scalping system I would be getting hammered badly right now. There's over 1000 systems listed in this Forum. How many of those have survived the passage of time . . . maybe 10 or 15? How many of those who introduced those systems are still trading? That in itself is an important lesson!

And PLAYING Bulerias for dancers is not only music to my ears, but diamonds for my eyes as I watch them perform! You know what I mean right?
  • #1,289
  • Jan 15, 2009 9:33am Jan 15, 2009 9:33am
Quoting fxtrading24
Hi DirkH sorry just been so busy, with some other stuff I will get more time next week. I am looking more at trading the 5 minute time frame for trading. I have done some work on the indicator for v2 just need to do some more testing and tweaking. Here is what I have so far if you want to play around with it on the five minute here is the mql code.
hi, does this indicator repaint?
  • #1,290
  • Jan 15, 2009 10:02am Jan 15, 2009 10:02am
(Forexweasel)I look at the chart and see the candles and what they look like. If you see that the candles have an irregular flow (I would say), what I mean by that is that the body is to long, the shadows on both end are unusual long or short. Or look at the 5min chart. If there is the same irregularity as in the 1 min or even worse, then don't trade. A great example right now is the GBP/USD, just look at the candlesticks.

Flamenco is right with the news. I thing it will take at least another 1 or 2 weeks until the market get over all the news that is heading our way.
I also trade partially the original system. After trying many systems and indicators and other stuff, I simply went back because it is one of the easiest and cleanest systems I encountered so far. Just go into some thread in here and all you see are lines, lines, lines and ooh what is that and what does this mean. Most of them are confusing. The old system plus one or two good other indies and you are set. Maybe not right now but hopefully in a week o two.

D.
  • #1,291
  • Jan 15, 2009 10:12am Jan 15, 2009 10:12am
Quoting DirkH143
(Forexweasel) Or look at the 5min chart. If there is the same irregularity as in the 1 min or even worse, then don't trade.

D.
Thanks for this, because when I read this a light went off in my head...even the M15 was schizo, big candles both directions alternating, no direction. So from now on, I wont trade the lower TF when the longer ones are directionless. Thanks again.

FW
Isolate yourself from the herd
  • #1,292
  • Jan 15, 2009 10:21am Jan 15, 2009 10:21am
Quoting iopoipoi
Excuse me Kino,

when you talk about CCI 24 to cross 0 line,
do you mean always after CCI 79 has already crossed?
the same as the original method?

and for pivots do you use a special indy, I found many here around, still I have a lot to learn..

thanksss!!
yes =
when you talk about CCI 24 to cross 0 line,
do you mean always after CCI 79 has already crossed? = YES
with a look to RSI > 55 or < 45 (if short)

for pivots i use multipivotsTimeframe mq4

kinonen
  • #1,293
  • Jan 15, 2009 2:50pm Jan 15, 2009 2:50pm
Quoting camisa
hi, does this indicator repaint?
I think so I just haven't had alot of time to play with it. I still like the old system better and Flamenco143 ideas best.
It Is Not The Exit That Concerns Me, As It Is The Re-Entry
  • #1,294
  • Jan 15, 2009 3:20pm Jan 15, 2009 3:20pm
Quoting Flamenco143
There's a lot of truth to what you said. However, equally true is that there ARE traders still using the orginal system and making good money, BUT NOT UNDER THESE current conditions. I said many times in previous posts that I don't trade between Thanksgiving and at the earliest the second week of Jan because the markets are always crazy then. Now I think it's compounded by the world waiting for Obama and his Economic Recovery package to see if it's going to work to some degree.

I still use the original system (somewhat) WHEN I TRADE with the Double...
Hi Flamenco nice to see you here again.
It Is Not The Exit That Concerns Me, As It Is The Re-Entry
  • #1,295
  • Jan 15, 2009 3:38pm Jan 15, 2009 3:38pm
Hey Flamenco,
I'm also a newbie here, but I must say that I thought that you are a part of a scam, and that's only because you posted a photo of a brand new Harley that attracts newbies and makes us believe in a holy grail
BTW would it be possible to get a "user manual" for your BBMACD indicator? Thank you
  • #1,296
  • Jan 15, 2009 3:48pm Jan 15, 2009 3:48pm
Quoting Torpedofx
Hey Flamenco,
I'm also a newbie here, but I must say that I thought that you are a part of a scam, and that's only because you posted a photo of a brand new Harley that attracts newbies and makes us believe in a holy grail
BTW would it be possible to get a "user manual" for your BBMACD indicator? Thank you
Torpedofx here is my thought, stare and compare the best way to learn a new indicator is use it see how it reacts in different market condition. If you put it on your chart you will see how it reacts.
It Is Not The Exit That Concerns Me, As It Is The Re-Entry
  • #1,297
  • Edited Jan 16, 2009 2:24am Jan 15, 2009 5:03pm | Edited Jan 16, 2009 2:24am
Quoting Torpedofx
Hey Flamenco,
I'm also a newbie here, but I must say that I thought that you are a part of a scam, and that's only because you posted a photo of a brand new Harley that attracts newbies and makes us believe in a holy grail
BTW would it be possible to get a "user manual" for your BBMACD indicator? Thank you
Sure - here it is. Start on page 7.
http://www.nexgent3.com/T-3%20Fibs%2...%202-28-08.pdf
But be careful right now. Just about the time you get a nice little trend going it turns quickly back into a killer chop. The way I use the BBMACD is (mostly) I wait for it to cross the 0 line. Dots HAVE to be outside the channel. When a dot changes colors and ducks back into the channel I exit. If I feel conservative I do not buy when it's below the '0' (even if the dots are green) nor do I enter a sell trade ABOVE the '0' if the dots are red. To be clearer, I only sell when dots are red and below the '0', and I only buy if dots are green and ABOVE the '0'.

I use the QQE mtfv5 for a 50 cross alert only, although I think it is also a great indicator and can almost stand alone. My candle chart I only use the xpMA along with a 15EMA. Attaching a chart in a minute so you can see what I mean.
P.S. The dots repaint ONLY on the current dot.
  • #1,298
  • Jan 15, 2009 5:18pm Jan 15, 2009 5:18pm
This isn't a great time to be showing the system I use at it's best due to the choppy market. I didn't include the Double CCI 89/21 cause that's a given. The colored dot(s) on the candle window are the QQE crossing 50 alert dots
Attached Image (click to enlarge)
Click to Enlarge Name: current chart.gif Size: 20 KB
  • #1,299
  • Jan 15, 2009 6:11pm Jan 15, 2009 6:11pm
Quoting Flamenco143
This isn't a great time to be showing the system I use at it's best due to the choppy market. I didn't include the Double CCI 89/21 cause that's a given. The colored dot(s) on the candle window are the QQE crossing 50 alert dots
can you pls share your indicators thanks in advance
  • #1,300
  • Edited 6:53pm Jan 15, 2009 6:36pm | Edited 6:53pm
Hope they help but as I said before, they ain't worth a damn in a choppy market, but then what exactly is? The only thing missing is the HAS candles. They are VERY important once you know how to read them. They tell you a lot about what the bulls and bears are doing and who's taking control.
Attached File(s)
File Type: ex4 BB Macd.ex4   4 KB | 884 downloads
File Type: ex4 QQE_Alert_MTF_v5.ex4   19 KB | 852 downloads
File Type: ex4 xpMA.ex4   10 KB | 768 downloads
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