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Urban Towers Scalping Strategy

  • #81
  • Mar 2, 2009 9:47am Mar 2, 2009 9:47am
Quoting ianf0ster
Sorry urban, but you only had 2 toweres in this example.
In fact several of your examples do not follow your rules. You show a 'very aggressive trade' where you should have taken it earlier and got stopped out, but just show a 2 candle entry - which (of course in hidsight) works.
This is similar to Raghee Horner's wave - just simpler (or should that be not so sophisticated).
This is the aggressive entry. In the aggressive entry, you count the swing high or low candle as 1 of the towers.

- Navin
urbanforex
  • #82
  • Mar 2, 2009 9:51am Mar 2, 2009 9:51am
uscad just hit target at +50 pips, but i also see some bad ones, could you please urban explain us the performance so far based on your experience?
  • #83
  • Mar 2, 2009 10:05am Mar 2, 2009 10:05am
Quoting blanca
uscad just hit target at +50 pips, but i also see some bad ones, could you please urban explain us the performance so far based on your experience?
That's great blanca

I have not used this strategy for very long. I have several strategies that I put together. The main thing for a person to have a strategy work is stability. I think the success rate of this strategy would be in the 70% area.

Hope that answers your question.

- Navin
urbanforex
  • #84
  • Edited 1:22pm Mar 2, 2009 12:49pm | Edited 1:22pm
yes thanks a lot, another eurjpy short 122.45 first target 122.20 more or less there.
  • #85
  • Mar 2, 2009 4:40pm Mar 2, 2009 4:40pm
the eurjpy turned back after winning +18 pips so maybe breakeven result, then another gbpusd short target hit and another eurjpy short target hit right now with last low reached.
  • #86
  • Mar 3, 2009 1:07am Mar 3, 2009 1:07am
Quoting blanca
the eurjpy turned back after winning +18 pips so maybe breakeven result, then another gbpusd short target hit and another eurjpy short target hit right now with last low reached.
I'm glad this strategy is working out for you. I will try and post up those charts to show examples.

Good work !

- Navin
urbanforex
  • #87
  • Mar 3, 2009 2:41am Mar 3, 2009 2:41am
thanks urban, please post the bad ones too , to keep a balance and real performance. Right now uschf is not working well.
  • #88
  • Mar 3, 2009 2:57am Mar 3, 2009 2:57am
Quoting blanca
thanks urban, please post the bad ones too , to keep a balance and real performance. Right now uschf is not working well.
I will post both examples as we go. No worries.

- Navin
urbanforex
  • #89
  • Mar 3, 2009 8:51am Mar 3, 2009 8:51am
Really starting to like this method, looking at nine pairs on demo account
but am missing quite a few trades which an Alert/Indicator would solve problem, anyone know if any progress is being made towards this, would be
happy to chip in with a few dollars if it helps to get it rolling
Kind Regards
Geoff
  • #90
  • Mar 3, 2009 10:17am Mar 3, 2009 10:17am
Quoting Geoffrey
Really starting to like this method, looking at nine pairs on demo account
but am missing quite a few trades which an Alert/Indicator would solve problem, anyone know if any progress is being made towards this, would be
happy to chip in with a few dollars if it helps to get it rolling
Kind Regards
Geoff
I have messaged several programmers. Hopefully soon we'll get the alert indicator. I'll post it up here once I get it.

- Navin
urbanforex
  • #91
  • Mar 3, 2009 11:47am Mar 3, 2009 11:47am
Many Thanks Navin
Geoff
  • #92
  • Mar 3, 2009 12:58pm Mar 3, 2009 12:58pm
I think I am starting to understand this method...

http://i44.tinypic.com/tak8k8.gif
TRO
  • #93
  • Mar 3, 2009 5:07pm Mar 3, 2009 5:07pm
Navin,
I'd like to know if this fits your criteria for down trend trade.
I checked out your website. Very well done. Easy to navigate.
Thanks much.
Cliff
Attached Image (click to enlarge)
Click to Enlarge Name: Urban Towers Scalp.gif Size: 40 KB
I get exercise just pushing my luck
  • #94
  • Mar 3, 2009 6:37pm Mar 3, 2009 6:37pm
Is there any criteria on how far or how close can the 1-2-3 setup be?

Thanks
  • #95
  • Mar 3, 2009 10:12pm Mar 3, 2009 10:12pm
Quoting karun
Is there any criteria on how far or how close can the 1-2-3 setup be?

Thanks
Hello Karun,

In a downtrend, if you see higher lows more than 3 candles, that is a conservative method for entry.

In your chart : there was only 2 higher lows and you were counting the swing low as the 3rd candle. That is also ok. That is the aggressive trading style for this method.

I hope that made sense.

PS. Thanks for visiting. I'm doing my best to keep everything free

- Navin
urbanforex
  • #96
  • Mar 3, 2009 10:18pm Mar 3, 2009 10:18pm
Potential Conservative Entry on GBPUSD 15min as I type.

http://www.urbanforex.com/images/sto...ums/pic_20.jpg


Any views on what you guys think of this trade?

- Navin
urbanforex
  • #97
  • Mar 3, 2009 10:21pm Mar 3, 2009 10:21pm
Only one way to find out

http://www.urbanforex.com/images/sto...ums/pic_21.jpg
  • #98
  • Mar 3, 2009 11:08pm Mar 3, 2009 11:08pm
Quoting urbanforex
Hello Karun,

In a downtrend, if you see higher lows more than 3 candles, that is a conservative method for entry.

In your chart : there was only 2 higher lows and you were counting the swing low as the 3rd candle. That is also ok. That is the aggressive trading style for this method.

I hope that made sense.

PS. Thanks for visiting. I'm doing my best to keep everything free

- Navin
urbanforex
I did not post any chart yet . I meant to ask does the distance between the entry signal and Rainbow makes any difference?

Attached is the chart, can you confirm if its a valid entries?

Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: gu15m.gif Size: 31 KB
  • #99
  • Mar 3, 2009 11:13pm Mar 3, 2009 11:13pm
Quoting karun
I did not post any chart yet . I meant to ask does the distance between the entry signal and Rainbow makes any difference?

Attached is the chart, can you confirm if its a valid entries?

Thanks
The closer the better. But to increase winning probability, the retracement candles must at least touch the MA's.

Hope that helps.

- Navin
urbanforex
  • #100
  • Edited 11:52pm Mar 3, 2009 11:39pm | Edited 11:52pm
Looks like this one stopped out.. Probably wrong time of day to trade GPBUSD though, neither market is open yet.

Been watching this thread and charts. Trying to see when the best time of day is. The one thing I noticed that if the 3rd + tower has a nice tail, with a small body (ie: a hammer of sorts) that hits the MAs and heads back, that those are the highest quality trades.

If the body gets into the MAs, those seem to a little lower quality, but tend to work out.

But, I think time of day is key. Make sure the markets are open for at least one of the currencies, if not both.

David

EDIT: Actually, may not have been stopped out, the high is the same as the high of the 3rd tower...

Quoting urbanforex
Only one way to find out

http://www.urbanforex.com/images/sto...ums/pic_21.jpg
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