FX-50 Great Scalping System

I agree gasgas and had removed them from my chart...But truthfully I have grown accustom to them and they do help me better to gauge what a currency's doing. So I re-added them this weekend. Just what i'm doing

They are good for better visual picture yes, so its still good to have them up there. I just want my chart as simple as possible, to many indics gives me headache

I agree and I tried going with out, but it kept me to focused on the moment and with the 34 and 55 guppy added back I see a little better picture of whats going on. Everybody's different, It just helps me see a larger picture.

Hey Boys,
I got a question in terms of exit a trade. I know when to enter a trade and so far always made a healthy profit by jumping out early enough before the trend reversed. My exit strategy so far is that when my CCI24 touches the 100 line in the chart to jump out. But I found out that most of the time it just touches the 100 line and bounces back up until a second time and that would be the best time to exit the trade.
Now, my question is: Is their a indicator or some other help that could give me a closer look on when to exit?

D.

I'm in the same boat, What is the perfect exit 1 time is completely wrong the next and that 2nd bounce you are talking about is driving me crazy lol. You don't know how many times I see price retrace, I take 10 pips and it runs for 50 or more and my entry was perfect. I think that's the nature of the 1min and I'm not getting hit with it so much when i jump to the 5m. Right now I'm watching the 10 SMA as my exit and how price is reacting around it.

Do you use the 10 SMA on the 5 or 1 min?
I use the DoubleWoody with the extra 21 or 30 MA in the chart as guide for direction. Wouldn't it be possible to add another line to modify the chart so that you see a possible exit?

D.

Check out my journal I have screen shots up. But yes I use a 10 SMA on chart for both support of my entry and exit(1m, 5m and daily). I wont enter a trade unless I get a price open above or below the 10 SMA(depending on trade direction).

Shoot.

See that's what you get for having breakfast with your wife. Missed a 100pip move on the GBP/USD. Dawn it.

,

D.

Hey all just found this thread about a week ago but after looking at the charts I found an entry I just wanted to see if I was following the rules correctly. As for the reading I thought it was a bit similar to cornflower so Im using some of those rules mixed in but as for reading rules it never makes sense to me until I see the actual charts. So I entered on the red arrow and at the moment I am breakeven, entry was 117.20 on ey at about 10 AM PST
Any feedback on either the things that were correct or wrong would be appreciated

Kinonen,

I see you don't have PM is there any way i can contact you off the Boards?

Cheers

I don't know about you guys but two days ago was the only day I had really good trades in those markets here. The last couple of days it is just to choppy. Hard to make a trade. I just hope that the market settles down in the near future. Until then, waiting for a good moment I guess.

D.

Nice indicator... THX.

BTW. I know you have a great many indicators..... Do you by any chance have a ribbon T3MA version in your files?

Compare the regular MA ribbon version of post # 1198 of this thread.

In the meantime...... Have a nice day !!!

John

Interesting setup, but I think your FXprime filter does not filter out many false signals with the data that you run that one. Why don't you use a higher no. in your filter? Does this setup works for you?

D.

Finally, I just stick to the previous setting furnished by a senior guy here ...

Hy Fxtrading24,
Did you try to merge the stochastic s indi with the ZLS indi? Maybe frees space?

D.

Did anyone ever tried this great system on 2min?
The market is very "noisy" recently and the 1min gives many false signals.
I trade the 2min recently with much better results - less signals but much better ones, sl should be bigger, about 15 pips + spread on E/U.
Here is one example from today.

How can you trade again on the 2 min. chart? Can somebody explain that please? I had it once but forgot about it.

Thanks.

D.

The Read me text:
I. Features:
This is an improved version of period converter for MT4 based on the
MT4's default period converter by metaquotes.
The default period converter script do not support real-time refreshing,
and consume lots of CPU (50%-9x%) making the whole system slow.
Also, the default one is a script which do not save when you exit MT4,
so you have to apply every converter script again after restarting, quite
annoying.
This one fixed all above problems:
1. Real-time updating or custom interval millisecond level updating.
2. Low CPU cost, average 5%-10% or less.
3. Works as an indicator, so can be saved and reloaded during restart.
4. There is no one converter per chart limitation as it is not script
any more, you can only use one window as source to generate as many
new timeframe chart as possible.
5. Auto updating if there is new history block loaded.
II. How to use:
Copy the mq4 file to your MT4 indicators folder (expertsindicators)
to install it as an indicator, NOT script. then in the custom indicator
list, attach period_converter_opt to the chart you want.
It support 4 parameters:
PeriodMultiplier: new period multiplier factor, default is 2
UpdateInterval: update interval in milliseconds,
zero means update real-time. default is zero.
Enabled: You can disable it without remove it with this option.
Other parameters are comments or for debugging, it is safe to ignore them.
Also Make sure you have Allow Dll imports option checked in common tab or
it won't work
After that, File->Open Offline to open the generated offline data. then
the offline data will be updated automatically.
As long as you keep the source chart open and the converter indicator
running, the generated chart including indicators inside will always
be updated. also you can close the generated chart and open again
later from File->Open Offline without problem.
If you want to quit MT4, you can leave those offline chart as other
normal online charts. when you start MT4 next time, those charts will
also be loaded and updated.

III. Notes:
1. Do NOT uncheck the "offline chart" option in offline chart common properties.
or after MT4 restart, it will treat that chart as online chart and request
the data from server, resulting empty chart window.
2. You can attach more than one converter to same window with different
PeriodMultiplier, e.g: you can attach 3 converter with
PeriodMultiplier = 2, 4, 10 to M1 to generate M2, M4, M10 at the same time.
It is even ok to use the M1 chart to generate Hourly chart like H2, which
only cost a few more CPU resource during initial conversion. but usually
most server don't have much data for those short period. resulting the
generated data isn't long enough for long period. so it is suggested
to use Hourly/Daily charts as source when needed.
3. The real-time updating mode updates quotes as fast as possible, but as
this is done via script, and MT will skip calling start() function when
your PC is busy and lots of quotes income. anyway, this seldom happen,
and you can at least get 10 updates each seconds which is much more
than enough.
4. The offline chart don't have a bid line showing in chart, but all data
in the chart including the indicators is still being updated,
so don't worry. you can show the bid line by unclick the "offline chart"
option in chart properties. but which don't helps much and if you forget
to check "offline chart" option before exit. it will cause errors and
become empty on next startup. you have to close the window and open
again from File->Open offline, which don't worth the trouble.
IV. History:
2005.12.24 1.4 faster to detect if data changed by removing float point
operations, added support to output CSV file in real time.
OutputCSVFile = 0 means no CSV.
OutputCSVFile = 1 means CSV + HST
OutputCSVFile = 2 CSV only, no HST .
(useful if you want to generate CSV for builtin periods)
CSV Filename will be the same as HST file except the extension.
added safe checking for PeriodMultiplier.
2005.12.04 1.3 Fixed missing data when there is large amount of data
loaded in several blocks, and support auto updating
when new history is loaded.
2005.11.29 1.2 Additional fix for missing data and server changing.
2005.11.29 1.1 Fixed missing partial data after restart.
Reinitialize after changing server or data corrupted.
2005.11.28 1.0 Initial release.

Just don't close the 1 min chart once you have the 2 min chart working.

OOhhh snap, that is a whole lot to read.
Thanks for the quick responds.
How are you guys doing right now with trading anyway?
Would be just interesting to know I guess?

D.

Hey Dirk,
I'm doing well with this method. I'm up for this week, lost some last week (mis-steps on my part), but I was up for the month of January. So, all in all, I am very pleased.

Dion