FX-50 Great Scalping System

Hi,

Lately there have been quite a number of posts regarding TF5 trading and how good it is to use them with the FX 50 Scalping System...... and I agree 100%..... In fact it is vital to do so.

I thought that everyone who has been trading this system understood that, because right at the beginning of this thread and the previous one started by the Can-Dude, it is mentioned that you have to use the TF5 chart as well.... In fact what we do here or what we should do is, watch the TF5 chart for the breakouts, break of trend...... and next pinpoint the exact entry on the lower Timeframe.... in this case TF1.

If you don't do it this way you almost have to be clairvoyant to pinpoint the right entries.....

Anyway I also have come to the conclusion that a lot of visitors to this thread still do not have the full grasp of what is built in.... in the template I produced on page 100 of this thread.

In fact we have the influence of TF15, TF5 and TF1 built in... in one chart. To make it more clear how to read this chart..... you should have a fresh look at the picture below.

Looking at this chart you may distinguish the spots where the TF15, TF5 and TF1 traders are in agreement..... or are divided in agreement. See how this works out. You can immediately see where for instance TF1 and TF5 traders are going to be in agreement to buy......., ect. In this chart setup you sort of can determine in an analog way what is ahead.....

If you like you can put a (digital= yes/no) confirmation underneath (under the CCI's) like the one Kino published in this thread..... Kino's Has bars....

In the chart below there are two buys completely in agreement with the CCI's and the rules of the FX-50 System. The last one (at the white dotted vertical line) is according to the FX-50 System CCI rules still looking to be a buy...... but now is clearly filtered out by this chart setup >>>>> because of disagreement shown between TF1 -TF5 and TF15 traders !!

Hope this makes it more clear to all of you using this setup

I believe you have something nice to study during the weekend,

Regards, John

BTW. Here is a new template too which uses RandyCandles. I have slightly modified one indicator for better use with the template below. All the other indicators may be found on the pages 100 upto this page of this thread

your chart is so obvious! Looks so simple. But when I take a look on the charts with your setup, it's not that easy....
I will study study and study on it.
Big Thanks for teaching John, I hope you will be patient.

I am clearly new to forex because i have never heard of 'Randy Candles' (don't you find those in lapdancing establishments) and as for that chart John............... get the sunglasses out!! How do you see where price is? I thought the FX Prime had enough going on but that is a van load of add-on's you have there. If it works for you good luck, but what is a 'Randy Candle' please and is it necessary for the V2?

Look afteryourselves
Django

http://www.forexfactory.com/showpost...7&postcount=14

I posted a few write ups on randy candles a while ago and no it's not a must have but they can be helpful

Many thanks for the reply.

nice setup

Welcome Django,

The reason why we share our views with others is that we know this:

There just doesn't exist a single trading system that is good for each and every trader. You have to select and find the one trading system that does what is necessary for you !

Any trading system is as good or as bad as the one who trades it..... and I have noticed that there are quite a number of new visitors here that have little trading experience. Take it or leave... but if you really are a newcomer..... I'd say do study the material on the link f4mnect presents here.... valuable information.

Thanks for you kind words... we will look after ourselves,

John

Jazz,

I have seen your two recent posts..... this one and another one on the previous page..... showing that you are willing to learn and that it starts paying off...

From your reflections in this thread I can tell that you are getting the picture......

You're digging into it and going for it 100%.... I like that spirit.

Cheers, John

Thank you John for your kind words. Yes I am very hard learning and not trading much last month.

Good weekend to all of you here at this good thread.

John,

Thanks for your words, i will indeed look at the link that you suggest as i have only been trading a few months and i am still sorting the wheat from the chaff.

You're a gent.

Lookafter yourselves,
Django

here is the source code for that in mq4

decompiled it, so that you could remove all restrictions if there were any

have fun

-------------------------------
/*
Generated by ForexLion Decompiler
*/
#property copyright "Copyright 2006, FX Sniper"
#property link ""

#property indicator_separate_window
#property indicator_minimum 0.0
#property indicator_maximum 50.5
#property indicator_buffers 3
#property indicator_color1 Lime
#property indicator_color2 Yellow
#property indicator_color3 Red

double gda_76[];
double gda_80[];
double gda_84[];
double gda_88[];
double gda_92[];
double gda_96[];
extern int limit = 1000;
extern int BarSize = 2;
extern int trh = 10;

int init() {
IndicatorBuffers(8);
SetIndexBuffer(0, gda_84);
SetIndexBuffer(1, gda_88);
SetIndexBuffer(2, gda_92);
SetIndexBuffer(3, gda_76);
SetIndexBuffer(4, gda_80);
SetIndexBuffer(5, gda_96);
SetIndexStyle(0, DRAW_ARROW, STYLE_SOLID, BarSize);
SetIndexArrow(0, 167);
SetIndexDrawBegin(0, limit - 40);
SetIndexStyle(1, DRAW_ARROW, STYLE_SOLID, BarSize);
SetIndexArrow(1, 167);
SetIndexDrawBegin(1, limit - 40);
SetIndexStyle(2, DRAW_ARROW, STYLE_SOLID, BarSize);
SetIndexArrow(2, 167);
SetIndexDrawBegin(2, limit - 40);
SetIndexLabel(0, NULL);
SetIndexLabel(1, NULL);
SetIndexLabel(2, NULL);
IndicatorShortName("SideWinder");
return (0);
}

int deinit() {
return (0);
}

int start() {
int li_32;
double ld_36;
double ld_44;
double ld_56;
double ld_64;
int li_72;
int li_76;
bool li_80;
double ld_88;
double ld_96;
double ld_104;
int li_112;
int li_116;
bool li_120;
double ld_124;
double ld_132;
double ld_140;
int li_148;
int li_0 = TimeDay(TimeCurrent());
int li_4 = TimeMonth(TimeCurrent());
int li_8 = TimeYear(TimeCurrent());
if (li_0 >= 30 && li_4 >= 12 && li_8 >= 2006) {
IndicatorShortName("Outdated Version: Contact [email protected] ");
return;
}
int li_20 = 30;
double ld_24 = 4.0 * MathArctan(1);
for (int li_52 = limit - 26; li_52 >= 0; li_52--) {
ld_44 = 0;
for (int li_12 = 25; li_12 >= 1; li_12--) {
ld_36 = 0;
ld_36 = (li_12 - 8) * (Close[25 - li_12 + li_52]);
ld_44 += ld_36;
}
gda_96[li_52] = 6.0 * ld_44 / 650.0;
}
for (int li_16 = limit; li_16 >= 0; li_16--) {
gda_76[li_16] = iMA(NULL, 0, 34, 0, MODE_EMA, PRICE_CLOSE, li_16);
gda_80[li_16] = gda_96[li_16];
}
for (li_12 = limit; li_12 >= 0; li_12--) {
ld_56 = (Close[li_12 + 1] + (High[li_12 + 1]) + (Low[li_12 + 1])) / 3.0;
ld_64 = 25 / (High[iHighest(NULL, 0, MODE_HIGH, li_20, li_12)] - Low[iLowest(NULL, 0, MODE_LOW, li_20, li_12)]) * Low[iLowest(NULL, 0, MODE_LOW, li_20, li_12)];
li_72 = 0;
li_76 = 1;
li_80 = FALSE;
ld_88 = (gda_76[li_12 + 1] - gda_76[li_12]) / ld_56 * ld_64;
ld_96 = MathSqrt((li_76 - li_72) * (li_76 - li_72) + (ld_88 - li_80) * (ld_88 - li_80));
ld_104 = MathRound(180.0 * MathArccos((li_76 - li_72) / ld_96) / ld_24);
if (ld_88 > 0.0) ld_104 = -1.0 * ld_104;
else ld_104 = ld_104;
li_112 = 0;
li_116 = 1;
li_120 = FALSE;
ld_124 = (gda_80[li_12 + 1] - gda_80[li_12]) / ld_56 * ld_64;
ld_132 = MathSqrt((li_116 - li_112) * (li_116 - li_112) + (ld_124 - li_120) * (ld_124 - li_120));
ld_140 = MathRound(180.0 * MathArccos((li_116 - li_112) / ld_132) / ld_24);
if (ld_124 > 0.0) ld_140 = -1.0 * ld_140;
else ld_140 = ld_140;
if ((ld_104 < trh && ld_104 >= 0.0 && ld_140 + ld_104 >= trh) || (ld_140 < trh && ld_140 >= 0.0 && ld_140 + ld_104 >= trh)) li_32 = 1;
else {
if ((ld_104 > (-trh) && ld_104 <= 0.0 && ld_140 + ld_104 <= (-trh)) || (ld_140 > (-trh) && ld_140 <= 0.0 && ld_140 + ld_104 <= (-trh))) li_32 = 1;
else {
if (ld_104 <= (-trh) && ld_140 <= (-trh)) li_32 = 2;
else {
if (ld_104 >= trh && ld_140 >= trh) li_32 = 2;
else li_32 = 0;
}
}
}
li_148 = 50;
if (li_32 == 2) {
gda_84[li_12] = li_148;
gda_88[li_12] = EMPTY_VALUE;
gda_92[li_12] = EMPTY_VALUE;
}
if (li_32 == 1) {
gda_84[li_12] = EMPTY_VALUE;
gda_88[li_12] = li_148;
gda_92[li_12] = EMPTY_VALUE;
}
if (li_32 == 0) {
gda_84[li_12] = EMPTY_VALUE;
gda_88[li_12] = EMPTY_VALUE;
gda_92[li_12] = li_148;
}
}
return (0);
}

change 2006 to 4006 and use it for another few thousand centuries

lol
but you say... "2006 to 4006 and use it for another few thousand centuries"
it 's wrong and just for 2 more thousand YEARS ONLY !

more seriously ; about your trendalert.mq4 ,
want to try it on Monday ;which timeframe is better ?
and does it work both for bullish an bearish trend ?

because in your code you've said : if (A>B) {PlaySound("Alert2.wav");
does it means only Bullish ?

thanks

kino

Thanks Forexlion,

That inside is a really great help for me. I always kinda liked the sidewinder and with this source-code, I can better understand and check around a little it. If you have any other suggestions or advice for indicators or other things, please let me know. Always looking forward to new things.

Thanks again.

D.

I have been using V2 just like Soeasy does, only with bigger arrows from the 2MA crossover indicator.

Guys, you have to trade on the market overlap times, which you can learn about here http://forex.timezoneconverter.com/, on forex market hours.

There is even the paramount worktime indicator you can setup and make show what are the overlap times on your screen to make it easier.

You got to trade when the markets are open at the same time because then there is more money volume in the market moves, and it makes it easier for a trend to actually happen. CD says to trade 1 hour before and after the market opens, but I have had best results from like 8 AM to 5 PM GMT time. Look into it yourselves, but trade at good hours.

Here is my setup. I'm also with soeasy all the way. Some people will be scared of making pips with a simple system that works, and will be surrounding them with 1000 indicators forever until they get tired of working with something that doesn't work. There are people who look happier playing with indicators than making money and taking it to the bank.

If you can't get good exits on V2, then just go for 10 pips target profit on each trade during overlap times. So many moves going over 30 pips that 10 pip isn't that hard to get when the MAs cross and you get the FXprime red or green bar.

This is a file with everything - indicators, template, instructions, link to videos and documents teaching about market times. More than this I don't know what could help without forcing anyone.

Good luck and good trading! TAKE THE MONEY TO THE BANK!!!
Scalpa

No Direction, Only volatility

Scalpaholic, you speak a lot of sense. I have had the Fx V2 for four weeks and in this very limited time i would have to agree about the 8am until 5 pm GMT trade times being profitable. A couple of questions - do you find it better on the 1 minute or 5 minute timeframe and do you have a rigid stoploss or wait for the exit signal? Oh and do you trade with and against the trend/bias? I have only been trading forex for a few months so your input would be appreciated, many thanks in advance.

Lookafter yourselves
Django

its alot of version for fx v2 ....???

Hi,

I am kinda new to forex too. I have only been studying it for around 5 months and learned about FX-Prime V2 last week.

There are good times to trade and bad times. Sometimes you will only get ranges with random trends that give even a good trader a hard time.

There are other times of the day when there are lots of trends that go for many pips, and are easy to catch.

There are also better days of the week and depending on the currency pair, the trends have common trend sizes. It varies a lot of course, but on some days, certain pairs will, for example, have trends that usually go for "at least a Y amount of pips", or a day when the pair will hardly have "trends larger than X pips", because its a day with less activity on the currency.

CD says he trades GBP/USD from 1 hour before to 1 hour after US opens. He says its the best time for his system - the FX-Prime V2. He made it, so he got to know what he is saying.

There are books that say the overlap times are the best times to trade. Some pdf files on the .zip archieve I posted above say exactly this, and also note the best days and hours for each of the main currency pairs.

Myself, I have been watching the charts of what happened the last month and noticed that the best hours to trade - when there is the most volume and the most trends, is between 7 AM and 17 AM GMT. This is when *I* think is the best time to trade the FOREX.

You can look into the MT4, the 5 minute chart all zoomed out for GBP/USD. USD/JPY and EUR/USD and press CTRL+L to see the volume lines. You will note that from 7 AM to 17 AM, there is the most volume and the biggest trends, and that huge trends usually take place in these hours. So that's my experience. Go check things out for yourself.

Do you find it better on the 1 minute or 5 minute timeframe?
I trade on the 1 minute to enter and exit in the best possible moments, but I keep an eye on the 5 minute or larger to see what the trend is, and if there is resistance or support.

and do you have a rigid stoploss or wait for the exit signal?
I think at these market hours you can put a stop of 10 when the V2 gives you a tight MA cross and enter signal. You have to be watching it not to lose money of course, but with so many trends going from 60 to over 100 pips, its easy to win. You can exit on wht Heiken Ashi like CD says on the tutorial and its a great idea. Waiting for the 5 minute trendline to be broken, or put a trail of 25-35 pips depending on the volatility will probably work too.
If you always exit at 40 TP with a trail of 25 pips, and a 10 pip stop, watching the trade, I don't think you will have any problems even if the internet or power goes down. I wouldn't use TP of 40 tough becasue there are so many trends that go over 80 and are signaled well by the Heiken cross, or even another MA cross in the oposite direction.
You could also exit when the FX-Prime green or red bar disappears, but I think it would lead to many early exits. You just gotta know when a trend has ended.
Even if sometimes you exit early or too late - its part of the game. As long ar your account is growing and your taking more money to the bank, there's no reason to care about losses. With time and experience people tend to learn and become better traders with better entries and exits.
The Heiken Aishi will probably be the best option for most people, myself included. Take a look at these things in the last months M5 and M1 charts to see what I am talking about. Be smart and safe, not greedy.

Oh and do you trade with and against the trend/bias?
I would *NEVER* scalp against the trend. Look at the M5 chart or zoom out in the M1 to see the trend, and go with it.

Try the thing on demo first of course, not to lose money. And I don't take responsibility for anything you do. I'm just trying to clear some things out.

This is what I have to say, good luck and lets go get the money hehe!
Scalpa

EDIT: look at screenshots of the period that I trade and how it has good large trends - its the part in black on the charts. Also notice how these periods have larger volume, the green lines underneath. Indigo section is non trade time.

[quote=avi;2571258]its alot of version for fx v2 ....???[/qI

I don't undertsand what you mean sir, please explain?

Django