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FX-50 Great Scalping System

  • #1,881
  • Mar 25, 2009 11:20pm Mar 25, 2009 11:20pm
I accidently found CD thread about three days ago and followed through from page one to the last including this thread.

I was so amazed how you guys cooperated to come up with great setups.

Today i modified a little and put on the test. Gained 50pips with three trade.

I've been using rsi and macd with divergence concept. of course, i study daily, 4hr, 1hr, 30min chart first where it may be heading on that day.

then i went into 5min chart and trade on the pivot points such as 21, 50, 89, 200 lines. watching for pull backs and enter accordingly.

it's been successful, but it was making me tired.

but this thread is giving me better idea. i will put this into test for a week and share all my ideas with you guys. i believe in "give and take", you know.

thanks,
  • #1,882
  • Mar 26, 2009 2:56am Mar 26, 2009 2:56am
Hi Broken Arrow,
Welcome to this thread!
I can't remember if there have been a way described how to determine the TF5 trend. The bigger CCI (TrendCCI) is used to determine the trend and the shorter CCI (EntryCCI) is used for...entry decisions.
You can look for TF5 trend the way you like it yourself.

Quoting Broken_Arrow
IF ITS TRENDING DOWN AND ITS GIVING YOU AN UP SIGNAL DONT TAKE IT ITS A RETRACEMENT

Did you mean the trend in 5M TF and the up signal in 1M TF chart.
Yes, that's what was meant.

Quoting Broken_Arrow
WHEN IT COMES DOWN AGAIN TAKE THE SIGNAL. LOOK FOR LOWER LOWS AND HIGHER HIGHS...

Which one comes down, the signal in 1MTF (suggesting a short trade I suppose)
Yes that's right.

Since John Edwards introduced the Ribbons, we don't have to look at different timeframes anymore! It's described starting at page 100. The ribbons tell you where price is, indedpendent from timeframes.

Cheers!
Trading S/R with PA only. No indicators anymore!
  • #1,883
  • Mar 26, 2009 2:58am Mar 26, 2009 2:58am
Quoting newline
this thread is giving me better idea. i will put this into test for a week and share all my ideas with you guys. i believe in "give and take", you know.

thanks,
Wellcome NewLine, nice to meet you here.
Looking forward for your contribution!
Good trading to you, Cheers!
Trading S/R with PA only. No indicators anymore!
  • #1,884
  • Edited 10:11am Mar 26, 2009 5:11am | Edited 10:11am
I'll give it a try.......
EDIT: resistance should be "support"
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Trading S/R with PA only. No indicators anymore!
  • #1,885
  • Mar 26, 2009 5:20am Mar 26, 2009 5:20am
Quoting avi
i have for you a great indi ...imax.. see it on tsd thread imax indicator can you make an arrow??
Hi AVI ;
i need the mq4 please
send it , no time for the moment to look for it in another forum
thanks

kino
  • #1,886
  • Mar 26, 2009 5:25am Mar 26, 2009 5:25am
try it, fx50 starts with 3 MA cross and head for one direction.

so you know the trend if it meet above requirement.

Quoting Broken_Arrow
Dear all,

I am trying to grasp the initial FX-50 system.

Sorry for asking such a simple question. It is regarding to this statement below.

**VERY IMPORTANT**

NEVER TRADE AGAINST THE 5 MIN TREND, IF ITS TRENDING DOWN AND ITS GIVING YOU AN UP SIGNAL DONT TAKE IT ITS A RETRACEMENT WHEN IT COMES DOWN AGAIN TAKE THE SIGNAL. LOOK FOR LOWER LOWS AND HIGHER HIGHS...

[color=#ff0000][color=black]How do you decide the trend in the 5 Min TF. There are so may methods. Which indicator is used...
  • #1,887
  • Mar 26, 2009 6:03am Mar 26, 2009 6:03am
Euro today,

Itīs been kind of difficult euro today, i took the short in the vertical line, but i am confused with the ones in circles, even though they are out the ribbons they do not work fine, could you help me with that?
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  • #1,888
  • Mar 26, 2009 6:06am Mar 26, 2009 6:06am
Quoting Jazz1964
Hi Pipster,
You're right about the fib line. I don't know what kind of fib it was, it's not on my chart anymore. I have looked when y entry was exactly and I took it on the first arrow on the chart below.
CCi was very strong, price was allready above TF5 zone whitout falling back again. Sometimes I make my entry a bit too early
Thanks Jazz. I also tend to make my entries too early. Too eager to trade I guess...still working on this aspect.

Happy Pippiing
  • #1,889
  • Mar 26, 2009 6:54am Mar 26, 2009 6:54am
To me this looks too early, because the SMA is still negative. Furthermore you didn't wait for the pullback towards +67 or in this case the zeroline?

This chart however shows an excellent opportunity for a long at around 21:34 hrs.

1. First the Alert White Dots on Lower FXPrime-V2 at around 21:10, which is twenty minutes before the actual long opportunity took place

2. Next notice two short breaks on green Upper FXPrime V2 (these are in fact very short retracements; last one occurs at about 21:34)

3. Price retraces towards Kijun/Tenkan and TF1 zone simultaneously at 21:34
Now you look for confirmation....... for a valid pullback on the CCI. And there it is:

At that same moment CCI-89 is green and falls back below SMA and +67 line. Than few minutes later.... CCI starts rising again above +67 and SMA.
Just before that you enter for long.

Als note that Price didn't even enter the TF1 Zone or the Kijun-Tenkan !!

Look for that kind of opportunities.

Good Luck, John

Quoting Jazz1964
I'll give it a try.......
  • #1,890
  • Mar 26, 2009 6:56am Mar 26, 2009 6:56am
Quoting blanca
Euro today,

Itīs been kind of difficult euro today, i took the short in the vertical line, but i am confused with the ones in circles, even though they are out the ribbons they do not work fine, could you help me with that?
it wasn't nice today. everybody waiting for unemployment claims?
Attached Image (click to enlarge)
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Trading S/R with PA only. No indicators anymore!
  • #1,891
  • Mar 26, 2009 7:01am Mar 26, 2009 7:01am
Quoting John Edwards
To me this looks too early,
Have to go now unfortunately,
I will study your comments later on.
Thanks John!
I hope you will post some more charts with comments.
Cheers, Jazz
Trading S/R with PA only. No indicators anymore!
  • #1,892
  • Mar 26, 2009 7:20am Mar 26, 2009 7:20am
Quoting blanca
Euro today,

Itīs been kind of difficult euro today, i took the short in the vertical line, but i am confused with the ones in circles, even though they are out the ribbons they do not work fine, could you help me with that?
Yea, I fell for the first short bounce that broke the support then reversed on me. I should have managed it better by taking a small loss but thinking that it will bounce again before it entered into the ribbon took me for a 30 pip loss. I usually make some good trades around that time between 0600 GMT and 0900 GMT but today it really backfired on me. Waiting for the jobless claims now to try to recover a little.
  • #1,893
  • Mar 26, 2009 7:39am Mar 26, 2009 7:39am
Is there a way..possibly in the kino t3ma ribbon filled.mq4 to
put the ribbons further back on our charts? So I can see a few
days back and review different entries and indicator tweaking?

Thanks!

Brian
  • #1,894
  • Mar 26, 2009 7:50am Mar 26, 2009 7:50am
Someone posted recently.and I agree, the best trades are when the ribbons agree. Ie the ribbon we are on 1 min and the 5 min tf both show up
when you are entering long, or both show down when entering short.

The times I see this as not a factor in my decision to enter is when
price is approaching a higher tf resistance for example, ie price is
approaching the 15 min ribbon and there is no support immediately
below.. the stronger resistance above overcomes the tf 5 ribbon
agreeing or not. And second.. in any position basically where the
5 ribbon is very thin. It does not need to agree if the 5 ribbon
is very thin at the time of entry, it provides very little real resistance
to consider.

Any thoughts anyone based on your trades?

thanks

Brian
  • #1,895
  • Mar 26, 2009 7:54am Mar 26, 2009 7:54am
Thanks a lot jazz, i understood perfectly, right now i took this one long but i am not sure if cci is ok or if entry is fine, this is not as clear as the previous long, what do you think?
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  • #1,896
  • Edited 8:26am Mar 26, 2009 8:09am | Edited 8:26am
Quoting blanca
Thanks a lot jazz, i understood perfectly, right now i took this one long but i am not sure if cci is ok or if entry is fine, this is not as clear as the previous long, what do you think?
I took the long also for a 15 pip profit. Almost halfway to recovery.

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  • #1,897
  • Mar 26, 2009 8:32am Mar 26, 2009 8:32am
Here are two trade opportunities that just happened on EurUSD

For this I have used the V3.2 template

Cheers, John
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  • #1,898
  • Mar 26, 2009 8:39am Mar 26, 2009 8:39am
Check some pages back..... There has been the same question and also a reply by Jazz1964.

John


Quoting golden1
Is there a way..possibly in the kino t3ma ribbon filled.mq4 to
put the ribbons further back on our charts? So I can see a few
days back and review different entries and indicator tweaking?

Thanks!

Brian
  • #1,899
  • Mar 26, 2009 8:45am Mar 26, 2009 8:45am
If I am right you took the first trade at around 12:35 on your chart? The breakout after the Bounce?

Well done, John

Quoting blanca
Thanks a lot jazz, i understood perfectly, right now i took this one long but i am not sure if cci is ok or if entry is fine, this is not as clear as the previous long, what do you think?
  • #1,900
  • Mar 26, 2009 8:50am Mar 26, 2009 8:50am
At first I thought you did the same trade using the previous Template.... But now I see you did the second one.
Very kind of you to show us how you did it and which indicators you are using underneath for validation of your trades,

THX, John


Quoting ClearTrade
I took the long also for a 15 pip profit. Almost halfway to recovery.

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