LOHAD Scalping system looking for V2.0

PLEASE GO TO PAGE #31 / POST #452 FOR UPDATED MATERIALS AND TEMPLATES.

LOHAD STRIPPED 04-02-09 Please See Page #37, Posts #554, #555

LOHAD CHAT: http://lohadscalping.tk


THANKS - LOHAD


REVISED SETUP:

Lohad Scalping "Base"

Finally I was able to complete the latest version of this system that I have been using to date (03-16-09)

Attached is a zip folder with the template and indicators that I am using. Also I am attaching a document explaining how I trade this system with screen shots and descriptions. Please take a look and feel free to adapt this system to your liking.

Lohad Scalping Chat Room: http://www.chatzy.com/644381729943. You will need to register but it is free. The room is called Lohad Scalping

Good Trading to All!

Thanks for all your input!

Lohad



ORIGINAL POST
Hey Traders,

I am posting the "core" of my system that I have been using live for the last few weeks. My trading partner and myself do use other indicators as well, that I have intentionally left off (for now). The set of indicators that I am posting are the core combination that we use to mainly give us the indication on making a trade or not. I will post the additional indicators on here if requested.

The reason I am leaving these other indi's out is because we would like to throw this out there and let it run the gaunlet of other traders to see if there are any improvements or different ideas that we can implement to make this a better system.

Even though this has been a profitable system for me (weekly pip count 606,282 and 359). I believe things can always be improved.

Now I use this on a 1M chart. My partner works on 5M chart and above. This is intended to be a scalping system. I know people will get here and tell me I'm nuts and quite frankly I see and understand there point of views but for my mentality, this TF works best for me.

I have not tried this on anything over 15M but it appears it could be good on longer TF. I only trade the EURUSD pair. My partner trades this on GPBUSD, EURUSD and USDCHF.

I have no set SL amount. Basically I use PA to determine if I should get out. I set my trade to get a 5-10 pip TP, and I am looking for an improvement on not leaving too much on the table. My partner does not use a TP. He takes what the trade will give him.

I will admit, a better exit is one of the things I am looking for.

The Chart:
I use the following indi's on my setup:

Bollinger Bands - Default Settings
PSAR - Default Settings
Hull - (Posted) Default Settings
BB Macd - (Posted) 12,26,9,1.0

Entry:
I have included a picture with a sequential setup descriptions on how I make trade decisions. This picture will show the ideal setup. There are other setups that I will take that do not meet these steps all at once, but I only do that once I have the feel of the market.

Basically I look for a PSAR dot to appear OUTSIDE of the BB, I wait for price to cross the HULL and the "kingpin" I wait for the BB Macd dot to appear on the outside of the line.

Please feel free to take a look at this. Kick it around. And any suggestions are greatly appreciated.

Thanks,

Lohad

Hi Lohad,

Thank you for your system for scalping Method.
Will try your system....

Peace......

Cool!

Let's see if we can work on this. If you happen to see something or find an improvement. Please let us know. It is an open canvas!

Also any EA's are worth looking into for all of thos programmers out there.

Lohad

Hi Lohad, do your trader partner use the same settings for higher TF?
I saw "Ronal Raygun" pop up here...I smell the EA is round the corner.

Aurorau,

My partner uses the same settings as I do. TO be honest we have tried different settings on the higher time frames. It is not that we haven't put the work into coming up with this system, but we just put these on the board and they seem to work. But if different settings work better on hight time frames, then we should really look into it.

That would be great if RR was willing to take a look into it. I have never dealt with him personally (mainly been a lurker here) but I have followed his work and I respect his stuff.

Thanks!

Lohad

ooops!

We have NOT tried different settings.

Sorry

Lohad

could you use par sar as exit? i see sometimes the move ends at the other side of the bb, but sometimes goes further

Blanca,

I was using that as an indicator for exit, and it is a good one. But I don't know if greed gets the best of me, but sometimes (especially a strong move) the opposite PAR comes after a retrace and we leave pips on the table. I know I shouldn't be greedy, but just wondering if we can come up with something to get the most of those screamers.

Thanks!

Lohad

hi LOHAD
Thanks for posting your system. As you mentioned you left some indicators behind intentionally i guess u should share those with us to use it as a full functional system.. and give u full evaluation.. would love to see the full verison of it

My opition u can use MACD / RSI / STCOH Divergence toger with this system

Cheers

Hi Hoichoi,

Yes I can post the remaining indi's if you would like. I must warn you that it will make the screen "busy" and I was worried about posting these, because I do not want to turn off any potential traders. But with that being said, I will post with a new screen shot, indi's and template.

These additional indi's are mainly for confirmation from my point of view, and it allows me to make the a decision rather quickly. If people tend to find the additional tools seem to slow them down, then by all means, do not use them. The original post is what I consider the core for my trade initiation.

My partner does use the Macd, and RSI (8) instead of these other indi's that I use, for his 5M trading.

I also found what I feel is a new powerful indicator, as it got me pretty excited that it kept me up through the night running through the simulator and it has given me some pretty good setups. I am still running this simulator and take this with a grain of salt because it has only a few hours of run time on the simulator, so I would not consider it fully tested.

This new indicator that I found was designed for another particular system here on FF and I wouldn't feel right posting it until I have his permission. Once I figure out how to PM, I will ask to see if it is ok. Albeit I have found these other indi' from other threads.This new one is relevant to new popular system on FF and I do not want snipe even if this is another thread.

I will post the new info shortly.

Thanks,

Lohad

Alright,

I am posting my complete file that I use. As mentioned earlier, this I am sure will look messy to some. I have no reason as to why I use them, other then it puts me in the zone and with the risk of sounding corny " It make me feel one with market", and it has given me the upmost confidence to date to scalp the way I do.

There may need to be two posts to have the complete system posted.... so here it goes.

Complete System

Indis:
Bollinger Bands - Default Settings
PSAR - Default Settings
Hull - (Already Posted) Default Settings
BB Macd - (Already Posted) 12,26,9,1.0

ADDITIONAL INDI's
Rainbow 9
Rainbow 10 (Click "Chart on Foreground in Chart Properties
RSI Triple Hull (with ITrend Indicator, Inlayed) - Default Settings
Macdgoodone (FXSniper Ergodic with trigger, Inlayed) - Erogodic Settings: 2,10,5,3

Alright... Let me have it!

...... More attachments

On the Itrend indi, I made the green line black so it is not seen on my screen.

Thanks for posting the full system btw did u also post the indicator u found out good i guess that is the rainbow indicator right? I'v been using that indicator and it is giving very good result..
let me know if i am correct or not Btw I'll try out this system with 1m and 5m tf

cheers

hii can
you explain your system a bit more with the new indicators?
also did u try any divergence indicator to play with?

and one last imp ques.. which indicator u use to exit and how do u filter out the sideways market?

thanks

No I have not posted the other indicator that I was playing with last night. Once I get permisson from the programmer, I will post it.

Let me know if you have any issues when you try this system.

Thanks,

Lohad

I pay attention to the crosses of the Ergodic (Red and Blue Lines) and the lines from the MACD. This is one method I use for an exit when the cross happens when I initiate the trade (continuation of a trend, the first cross may not always happen) and when the second cross happens, I have been known to use that as an exit.

I also use the RSI Triple Hull and the red Itrend line the same way. The two lines (purple and white) cross most of the time in steps which gives me warning.

I have not played with the divergence indicator. The one I have does not work properly in my opinion, I will need to look for a better divergence tool before I can play with it.

Thanks for the interest!

Lohad

Exits, mainly feel for the market, or sometimes the Macd and Ergodic cross as I explained earlier. Or a lot of the times I use a 5-10 TP deoending onthe market.

I use price action and the BBands for sideways market.

I am looking for a better strategy foir sideways markets and exits.

Thanks,

Lohad

hi lohad
sure I'll try ur system btw can u pm me the indicator u r using to test it.. if its not a big prob..
thanks