JungleLion Scalper

I had to make this new thread because the old one got very confusing to everyone including me, with the various EA's and settings.

In this thread, we will not be discussing any EA's just the plain simple manual trades.

We will also discuss when to trade and when to avoid trading altogether.


The Setup:

Its all given in the template file attached, we trade 1 hour charts.

When to Enter A Trade:

Watch for a possible spike in the standard deviation, this is when we enter a trade and when this spike ends, we close the trade.

Standard deviation measures volatility in the market, and hence maximum moves.

The direction to Choose:

The direction to choose is defined by the xpma and tsf cross, if xpma is blue we short, wif it is red we long.

Remember:

If there is no volatility, we simply do not bother trading, there is no use wasting time.

How do we figure out the future volatility?

Now this is one important question, watch the angle of the xpma like with respect to base, if it is trending then there are chances of increase in volatility, if it is flat then the markets are dead.

The fib Lines:

The fib lines are based on reversal patterns, hence very accurate, choose the one that satisfies your risk appetite.

Since I trade managed accounts its compulsory for me to have quality in trades to be able to perform better.

GBPUSD has started a possible trend, and I can expect it to reach the next upper fib level of 1.4414 here.

Can you tell me the function of "anchorfx"

Thanks

fib lines

Despite the cross of the xpma and tsf on 1 hour charts

In the absence of volatility as given by the standard deviation indicator, there is no movement

We will wait for this to show some positive volatility first.

Out of curiosity, what time are the fibs calculated. Can't wait to give this system a shot on my demo, got it loaded and running. A little confusing (MT4), never used it before
Thanks for the new thread

The fibs are not based on a time frame

They are based on reversal patterns

So we could have 4 hour reversal pattern or daily or weekly or monthly reversal pattern.

Limiting fibs to a specific time frame looses the accuracy.

Just wanted to share this

1. While GBPJPY currently shows a relatively strong trend move to 129.32 fib level.
2. The trend move on GBPUSD is weaker
3. The trend move on EURUSD is almost non existent.

The idea behind this method is to pick trades with 100% win chances and forget the flat market trades.

There is no use wasting time on a ranging market.

See u again MasteR

friend is a better word.

We are very close to achieving our target specified in post #2

Volatility is rapidly dropping even on 4 hour.

Your strategy seems very interesting. I stopped looking for strategies on FF but I must say, yours has pulled me back in. I'm looking for a strategy that will allow me to pick winners with a decent win rate. Hopefully you will be able to bear with a newbie like me (although I've been dealing in forex for 4 years almost, I still consider myself a newbie) as I try to learn what you are teaching.

I noticed that your strategy is called JungleLion Scalper but you said to trade on 1 hour charts...is that correct or do you mean 1 minute charts?

you can use it on 1 minute too

same rules apply.

When standard deviation goes up, the speed at which the price moves increases.

When it goes down the market becomes dead.

Obviously, you do not wish to trade dead markets and waste time and money.

Thanks. That's great to know that you can trade it on a smaller time frame. I'm going to set everything up today when I get home from work. Do you know of an MT4 demo account I can download that does not expire after 30 days?

Thanks for pointing that out. Trading when it is not profitable has always been a problem for me and I'm hoping your strategy will help me fix that problem. If one can get in on the better trades during profitable times, it does not take many pips make a living. My daily goal is 20 pips.

I am using IBFX with their demo, but it expires after 30 days . . . from what i understand.

I'm not sure which time-frame is best, but will look towards the one hour as stated in the first post by JungleLion.

20 pips a day, or an average of 100 per week should be possible with this system, especially if you can stay out of trades when the market is flatening out. That is my problem too, being misled by the indiators I use ... and trying to trade when activity is low.

I have learned that you can't force a trade, must have patience, always use a S/L, and to be able to kick back when there really isn't anything going on. I still have problems with these, but after 2 years of demo, I almost have a handle on it.