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LOHAD Scalping system looking for V2.0

  • #461
  • Edited 3:53pm Mar 24, 2009 3:51pm | Edited 3:53pm
This one was for 7. Was a late entry, but I had agreement on M5 so went with it.
Attached Image (click to enlarge)
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  • #462
  • Mar 24, 2009 3:57pm Mar 24, 2009 3:57pm
This one was a grinder. I did not get out, because it did not break my mental stop and also BBMacd support was not broken. But it was a grind. I do not like to hold my trades this long.

Lohad
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  • #463
  • Mar 24, 2009 4:00pm Mar 24, 2009 4:00pm
Lohad

Are you hand drawing trend lines as on chart above?

Or using some indicator to do it?

Same regards divergence....

R
  • #464
  • Mar 24, 2009 4:00pm Mar 24, 2009 4:00pm
And here is a bad one. -7. I didn't practice what I did on the last one. I really did not have to get out based on BBMacd. Bad Lohad. Bad trader!!!!!
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  • #465
  • Mar 24, 2009 4:45pm Mar 24, 2009 4:45pm
Quoting rob24hrs
Lohad

Are you hand drawing trend lines as on chart above?

Or using some indicator to do it?

Same regards divergence....

R
Hey Rob

I am putting those on myself.

Same with Div

Lohad
  • #466
  • Mar 24, 2009 7:50pm Mar 24, 2009 7:50pm
Quoting 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
I m great Lohad, i hv to deal with some 'job' outside this few hours. i'll trade again if it's not busy. kinda hard to scalp and do other thing at the same time. you gotta be infront of ur screen all the time to catch some green pips hehehe
  • #467
  • Mar 24, 2009 8:06pm Mar 24, 2009 8:06pm
I'm not good at exiting the trade. If you look at my chart(1m) I enter at the first "right" and exit at the second. I exited because the dot at BBMacd changed to green. Look, after 2 minutes it went down again . I should have look at 5m TF for a longer hold.
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  • #468
  • Mar 24, 2009 10:00pm Mar 24, 2009 10:00pm
question. do you guys only take short if price is below 50 ma on 1 and 5 minute charts when scalping on the 1 and vice versa? or if price is below on 1 and not on 5 it is still a valid short
  • #469
  • Mar 25, 2009 3:08am Mar 25, 2009 3:08am
Quoting sitaringfx
I m great Lohad, i hv to deal with some 'job' outside this few hours. i'll trade again if it's not busy. kinda hard to scalp and do other thing at the same time. you gotta be infront of ur screen all the time to catch some green pips hehehe
Hey Sitaring,

Thanks for understanding. I had to take care of my other duties first. With the economy these days, when there is a chance to do work, you need to take advantage of it.

Lohad
  • #470
  • Mar 25, 2009 3:14am Mar 25, 2009 3:14am
Quoting sitaringfx
I'm not good at exiting the trade. If you look at my chart(1m) I enter at the first "right" and exit at the second. I exited because the dot at BBMacd changed to green. Look, after 2 minutes it went down again . I should have look at 5m TF for a longer hold.
Sitaringfx,

I looked at your chart. I honestly think you did find. I am still playing with exits based on BBmacd, but that looked to be a 30 pip run. When I am up 10 pips, I hold "mental stop" and make sure I do not lose and at least take some pips.

SO I can tell you that I think you did fine.I honestly would have gotten out with the 10 scalp and then when it went down again, I bet I would have re-entered but maybe not. Remember this is a scalping method, especially on a M1 chart. You are right though you might have stayed in for the longer run on M5.

But either way, you did a good job.

Lohad
  • #471
  • Mar 25, 2009 3:23am Mar 25, 2009 3:23am
Quoting sirogreness
question. do you guys only take short if price is below 50 ma on 1 and 5 minute charts when scalping on the 1 and vice versa? or if price is below on 1 and not on 5 it is still a valid short
Hey Sirogreness,

Welcome to the thread and giving our system a chance.

You bring up a very good question. I have been debating this in my head.

First, I think the technical answer is yes, wait until both M5 and M1 are in agreement of trend. However, you can, and I have taken trades when the M1 chart is above it's 50sma while on the M5 chart price is not above the 50sma. I consider this a countertrend trade and I am more quick to pull the trigger on profit. If you do trade this way, it is very important that you atleast make sure the price on the M5 chart is above the Non-LagMA and the BBMacd has atleast a blue dot looking like it is going to go long.

I hope this helps. It is mainly a feel thing. And I know I could just say to only trade when both agree. But I cannot tell you to do something when I do not always follow that rule.

Last week, I lost about 15% percent of my trades. Of the 15% losers, about 75% were countertrend trades. BUT I did win on more countertrend trades then I lost.

I hope I did not confuse you.

I look forward to working with you!

Lohad
  • #472
  • Mar 25, 2009 4:13am Mar 25, 2009 4:13am
Hey Lohad.
I am still learning this method.
I confuse too to entry on M1, when it's confirm with M5. So I always to late to take a trade.
I hope your explanation above can help me. I'll try.

Thank you so much...
  • #473
  • Mar 25, 2009 4:18am Mar 25, 2009 4:18am
Quoting Andita
Hey Lohad.
I am still learning this method.
I confuse too to entry on M1, when it's confirm with M5. So I always to late to take a trade.
I hope your explanation above can help me. I'll try.

Thank you so much...
Hey Andita!

Welcome to the thread! I hope that it helps as well. If you have any questions please ask.

Thanks for giving this a try. Lets make some pips together.

Lohad
  • #474
  • Mar 25, 2009 11:46am Mar 25, 2009 11:46am
AHH crazy price movement
  • #475
  • Mar 25, 2009 11:57am Mar 25, 2009 11:57am
Quoting piplover143
AHH crazy price movement
I know piplover!

This sucks. I am on the sidelines, taking care of a few things. I will be back in the game soon.... I hope!

Hang in here buddy!

Lohad
  • #476
  • Mar 25, 2009 2:43pm Mar 25, 2009 2:43pm
OK guys,

I can't take it anymore. I missed the meat of the day due to work duties, and I am glad I did! wow crazy PA today.

I am shutting down the trading station for the day...... again I will peak at the asian session. Again I will lurk here. Any questions that need to be asked, please post. I will try to answer them for you as soon as possible.

Daily Total: 34
Weekly Total: 142

Have a good one!

Peace Out!

Lohad
  • #477
  • Mar 25, 2009 4:36pm Mar 25, 2009 4:36pm
Well, I have been following this thread for sometime and I think I can make a contribution with my 2 cents worth.

I have modified LOHAD's base template to include 3 things that seem to be on the minds of many.

1. Divergence
2. Stops
3. Trendlines

I feel I have addressed the 3 in the following template. However, my template does not contain PSAR, the 10 and 21 MAs.

The additions to my template are:

1. Divergence indicator (the best I have found to work on 1 min) embedded into the BB MACD window - Red and Green Arrows show Divergence.

2. Stops Indicator - BBands Stop (with a setting of 10 length) - I find this helps with the "mental stops" as well it helps you from getting out too soon.

3. SHI Channel Indicator - This automatically draws trendlines for you.

4. 100 (yellow) and 200 (pink) SMAs - Many people follow these and they tend to provide good support and resistance levels

5. Fib Pivot Indicator - found this indicator to provide pretty accurate support and resistance levels.

You will still need all other indicators provided by LOHAD.

Also, my template might seem messy - as always, I think this template can be improved - hope this is of help to others!!!
Attached Image
Attached File(s)
File Type: ex4 BBands_Stop_v1.ex4   6 KB | 423 downloads
File Type: mq4 FX5_MACD_Divergence_V1[1].1.mq4   12 KB | 505 downloads
File Type: tpl lohad-divergence-stop.tpl   21 KB | 415 downloads
File Type: ex4 Pivot_v3.ex4   6 KB | 438 downloads
File Type: mq4 SHI_Channel_true.mq4   5 KB | 433 downloads
  • #478
  • Mar 25, 2009 8:17pm Mar 25, 2009 8:17pm
Dear Lohad,

I stumbled upon your tread when making a google search on scalping. I have been trying to get the hang to your system. I have a couple of unanswered questions. I am not sure the role of QQE. It is in the chart but I seem not know how or in what way you want to apply in in your trade. Thanks

Arrow
  • #479
  • Mar 25, 2009 9:06pm Mar 25, 2009 9:06pm
Quoting fxdream
Well, I have been following this thread for sometime and I think I can make a contribution with my 2 cents worth.

I have modified LOHAD's base template to include 3 things that seem to be on the minds of many.

1. Divergence
2. Stops
3. Trendlines

I feel I have addressed the 3 in the following template. However, my template does not contain PSAR, the 10 and 21 MAs.

The additions to my template are:

1. Divergence indicator (the best I have found to work on 1 min) embedded into the BB MACD window - Red and Green Arrows show Divergence.

2....

Hey FXDream,

Thanks for stopping by the thread. I really appreciate you putting up your chart with your twists. This type of stuff is what I am looking for. I will throw your template up and give it a spin.

Thanks alot man! I hope to hear more form ya!

Lohad
  • #480
  • Mar 25, 2009 9:15pm Mar 25, 2009 9:15pm
Quoting Broken_Arrow
Dear Lohad,

I stumbled upon your tread when making a google search on scalping. I have been trying to get the hang to your system. I have a couple of unanswered questions. I am not sure the role of QQE. It is in the chart but I seem not know how or in what way you want to apply in in your trade. Thanks

Arrow
Arrow!

Thanks for jumping in. More people in our brotherhood!

The QQE's role is for confirmation with the the BBMacd. The BBMacd is the what I call the "Kingpin" in this system. It pulls rank of all the other indicators in this system. It is most powerful obviously when going with the trend. And the QQE is used to just give that little extra feeling of comfort.

With that being said, you will notice on some of my later posts, I do not have it on my charts. I did find sometimes that the QQE has kept me out of some decent moves. I can appear flat when there is actually a good move. This may be because I am typically on a M1 chart, so it is not a long enough time frame for it to function properly. It may work better on M5 or even if you go to a higher timeframe.

Please if you have any more questions, post them. I will answer to the best of my abilities. there is also people in the chat room that are pretty good with this system as well. They can give you some live help. Typically I found the European session is most lively for the chat room.

I hope to keep hearing from you. Go get those pips!

Lohad
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