LOHAD Scalping system looking for V2.0

oppps... my mistake, i just load it without looking at the setting. Lohad, i'm trading it at 1M.

Is my setting ok?

Nope use the following:

12
26
9
1

Let's see how this looks.

Lohad

sorry, i uploaded the wrong screen hehehee! l edited the attachment now!

I'v change it to your setting now, thks!

Cool!

Did that change the look of the chart that you sent on your first post?

Hi Lohad,

I would like to confirm something with you please. When you look for trend direction on the 5 min chart, do you merely look at price action in relation to 50 SMA or do you check that all indicators agree before taking a trade on 1 min chart? i.e to take a long on 1 min chart, do PSAR need to be below price,NonLagMa above PSAR, blue dot on BBMacd on outside of upper line etc.....on the 5 Min Chart?

I hope you understand my question, that all indicators have to agree in 5 min before taking a long trade on 1 Min or do you merely use trend lines on 5 min to determine trend?


Many Thanks

Alkis

Yes, it did! Look at the chart now. Much clearer that I should had entered few ticks ahead! Dont know if you have taken this trade!?

Lohad,

Sorry, forgot another question. When all conditions are met on 1 min chart and you see dot on BBMacd appear outside of line, do you take that trade then or wait to the close of that candle first?


Alkis

Hey Alkis!

How did your day of trading go?

This is a good question. Well the first thing I do when looking to trade M1 is to look on the M5 chart and see how price is in relation to the 50SMA. Lately I have been only taking trades that are going with the trend.

Since M1 is going to bring up a valid entry before M5 will, I do not always wait for my M1 rule conditions to be met on the M5 TF first. What gives me the most confidence in making a trade is when I have my rules met on M1 and on the M5 chart appears to look like it is going to coincide. It is hard to technically explain, but mainly when you see a blue dot on BBMacd and it looks like it going to to go to the upper band, AND all rules conditions on M1 are met, then pull the trigger and watch the fur fly. Also, having a feel of what PA has been doing M1 is needed.

Also, there are times when all rules are met on both TF and obviously this is a good signal as well.

I use this same process as well when I am trading with M5 TF, but I look up to M15 for my confirmation when I am doing this.

Now when doing a countertrend trade, I still look to see what M5 is doing, but I am mainly going off on M1 PA and then I keep a close close watch on it.

Hey Sitaringfx,

Thanks for reposting this chart. I am assuming this is EURUSD. I did not take this trade, but if I was looking to take a trade here, I would have done it like you siad, a few bars previously. Now this would have been a trade looking for an outcome of about 5-7 pips when I would have pulled the trigger. The reason I am saying this is, look at the BBands. They look to be narrower, not quite consolodation but they are narrower then before.

Now there is another trade entry towards the right of your screen that I would have taken as well, and you can see PA is pushing the upper Bband to expand, this trade has more of a potential to run longer.

But IMO you are spotting these correctly. I look forward to working with you on our system.!

Thanks for giving us a shot!

Lohad

Alkis,

Please don't apologize for asking questions here. It is our job as traders to help each other out and to help better define our system here.

The technical answer is yes wait for the the conditions to be met and wait for the candle to close and the next candle to excede the high/low of that candle.

But I will be honest here. I do not always do that. What I look for when I am looking for initiation of a trade is S/R as well. There are times, even on a M1 chart where price can meet the rules of our system but has hit the same support over and over again and has not broke, in this situation I look for support to be broken first then see how I feel about making the trade.

Dont forget to look at Bbands. I do have them rather dim on the template, but they do mean something to me. If PA is expanding the outter bands as the rules are being met, I will make the the trade.

I hope this helps buddy!

Lohad

Well another day down.

Feels good to be back with the world today. Man that cold was a bitch. Really knocked the snot out of me. But now I am back looking for some action.

Today was a pretty good day for me. got a chance to get the feel back.

I only traded with the trend today. no counter trend trades. My buddy Soeasy69 is converting me I think (He may even have me trade M5 more often). Now I can't say my Countertrend days are done for good, but I see less of them in the future. I did some looking over the last week over the weekend and I noticed even though I had a hit rate over 85%, of the bad trades I hit over 75% were countertrend trades. The others were just bad decisions on my part.

The other thing I like to mention, that I feel could be getting left by the wayside here. BBands. There was a time a while back, I decided to to be rid of them. But if you notice on the last template, I had them back on. I have them really dark, because I do not want them to be so prominent that it clutters up the screen, but there is some validity for them in our system here. BBands can show S/R and strength of the move. It will also indicate if a rally or a big drop is about to, or have the chance to come to an end. If you have any questions on BBands, let me know. I can hook you up!

So as I said today was a good day. The pip total is nothing to brag about, but it was good to get back in it. And I had no negative trades today.

Todays total = 46 pips
Weekly Total = 46 pips

Peace out guys!
Lohad

Here is the updated stuff.

Lohad

Hey, Lohad.

was looking at the massive amount of news being released today and was wondering how or if you would play days like today?

Hey i79coop,

Good to hear from ya! I am not actively looking to get into the market on EU but keeping an eye on it. Lppks like the news announcement did not do much, but watch for spreads. I am actually paying attention to GU more until about 4:00.

I would guess I will get serious after the 5:00 UD and EUR announcements.

So much these days, the news is always figured into things already, but you never know. Remember last week?!?!? SO tread lightly.

Lohad

Something is going on in the chat. Not letting me write in it. I am not ignoring you.

Lohad

Sorry I had to bail in the chat earlier guys. I had some "day job" duties I had to deal with. Been trading when I can up 42 so far for the day. How are you guys doing?

Lohad

Another day in the books.

I did not get a chance to trade as much as I would have liked to but it was good. Some nice entries on M5 but I found more safe entries on M1. These ranging type of days seem to fit me better on M1.

Well I am closing the trading terminal for now...... I may peak at the asian market to see what is going on. But I will be lurking here tonight. If there is any questions I will try to answer them for you.

Daily Total = +62
Weekly Total = +108

Have a good one guys! I will try to be in the chat in the am as well (european session).

Later!

Lohad

hey lohad, can u post some screens of your entries from today ? would be very interesting to see / learn from

This one was good for 9 as you can see I STILL need to work on my exits.

Let me put some more up. 1 sec