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FX-50 Great Scalping System

  • #1,901
  • Mar 26, 2009 9:01am Mar 26, 2009 9:01am
Forex scalping is the art of using high leverage and a large number of short term trades to steadily increase an account. Usually, only 1 to 5 pips are targeted for each trade. This type of trading appeals greatly to day traders and those looking to minimize the risk involved in trading currencies. Next to money management, “risk control” is the single most important trait to a surviving (and thriving) currency trader. The small amount of time that is spent in the market limits much of the risk in exposure in comparison to a longer term system. Also, the freedom involved in a speedy Forex scalping system in such a liquid market is a “magnet” that drives many traders from other markets to try their hand in currency. A disciplined and steady scalper could seamlessly double or triple an account, and spend only a fraction of the time in the market as a common day trader.

If you found this introduction interesting read the rest of the article Forex Trading Methods - Scalping
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  • #1,902
  • Mar 26, 2009 9:07am Mar 26, 2009 9:07am
Quoting magnumt
Forex scalping is the art of using high leverage and a large number of short term trades to steadily increase an account. Usually, only 1 to 5 pips are targeted for each trade. This type of trading appeals greatly to day traders and those looking to minimize the risk involved in trading currencies.
Now that you have the definition of our profession, welcome to the club.
  • #1,903
  • Mar 26, 2009 9:22am Mar 26, 2009 9:22am
In this chart we see price fall right into two wide open TFzones. Check the chart and you will see that price fell right through TF30 zone in the new template V3.2 as well.

Cheers, John
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  • #1,904
  • Mar 26, 2009 9:25am Mar 26, 2009 9:25am
Quoting ClearTrade
Now that you have the definition of our profession, welcome to the club.
thanks mate!
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  • #1,905
  • Mar 26, 2009 9:36am Mar 26, 2009 9:36am
Quoting Jazz1964
Hi Ari Gold,
Goto your Navigotor, rightclick on the Kino_T3MA Ribbon Filled indicator
select the 2nd one from above (sorry i have a dutch version; I think it is something like 'edit')
Now MetaEditor will open.
Look at my picture and change the setting.
After that you push the Compile button. After MetaEditor tells you there are no errors and no warnings, you can startup Metatrader again.
That should work.

Not sure how I missed this post... but thanks for the info jazz.

Brian
  • #1,906
  • Mar 26, 2009 9:52am Mar 26, 2009 9:52am
Quoting John Edwards
In this chart we see price fall right into two wide open TFzones. Check the chart and you will see that price fell right through TF30 zone in the new template V3.2 as well.

Cheers, John

This is very good.. ok I have been doing just the wide open trades, lol... breaking out above or below at least the three major time frame ribbons.

Here normally I would first think not to take this because
it would have to travel thru the two ribbons. This is not
seen as resistance because they are wide open, ie spread
ribbons??

Looking for clarification. thanks!

Brian
  • #1,907
  • Mar 26, 2009 10:17am Mar 26, 2009 10:17am
Quoting John Edwards
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?
John, you asked how did it go, well I had a small loss.
Nice to see many posts today!
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Trading S/R with PA only. No indicators anymore!
  • #1,908
  • Mar 26, 2009 10:22am Mar 26, 2009 10:22am
John, did you get the link I just sent you?
  • #1,909
  • Mar 26, 2009 10:25am Mar 26, 2009 10:25am
Quoting John Edwards
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...
Very valuable evidents John, this helps. Thanks!
Trading S/R with PA only. No indicators anymore!
  • #1,910
  • Mar 26, 2009 10:42am Mar 26, 2009 10:42am
i'm trying something that looks interesting
continue with it and i'll say you if it's promising

kino
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  • #1,911
  • Mar 26, 2009 10:48am Mar 26, 2009 10:48am
i feel this thread is too long to read the whole thread.
where shall i start ?

thanks
  • #1,912
  • Mar 26, 2009 10:53am Mar 26, 2009 10:53am
Quoting guitarz
i feel this thread is too long to read the whole thread.
where shall i start ?

thanks
Someone had a quote not long ago that stated "The Elevator to Success is out of order, you must use the stairs". And that is the best advise I can give you, start at the beginning because shortcuts will only cheat you some very valuable information.
  • #1,913
  • Mar 26, 2009 11:08am Mar 26, 2009 11:08am
Quoting kinonen
i'm trying something that looks interesting
continue with it and i'll say you if it's promising

kino
interesting
but waiting , because making some diff entries

kino
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  • #1,914
  • Mar 26, 2009 11:34am Mar 26, 2009 11:34am
Puzzle: Anyone can tell me what this is?
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Trading S/R with PA only. No indicators anymore!
  • #1,915
  • Mar 26, 2009 11:49am Mar 26, 2009 11:49am
cci 89, 21 changes too fast. hard to scalp.

cci170, 34 is a better set up for me.

how do you guys think? you guys are more expert than me, so...

by the way, many thanks to you guys.

i made more $1700 in two days working only 3-4 hours total by using this setup.
it's a great system.
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  • #1,916
  • Mar 26, 2009 12:03pm Mar 26, 2009 12:03pm
here is tha last one i saw, entry after breakout and retrace, target pivot L3
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  • #1,917
  • Mar 26, 2009 12:17pm Mar 26, 2009 12:17pm
Quoting newline
cci 89, 21 changes too fast. hard to scalp.

cci170, 34 is a better set up for me.

how do you guys think?
Hi Newline, 170/34 has been on my charts for a long time. I didn't like it much, because 170 is too long for me, too slow with determining trendreversals.
the same with 34. too slow for me with attending for possible entries.

Place them both on your chart and decide yourself what works best for you.
Trading S/R with PA only. No indicators anymore!
  • #1,918
  • Mar 26, 2009 12:18pm Mar 26, 2009 12:18pm
Quoting blanca
here is tha last one i saw, entry after breakout and retrace, target pivot L3
nice trade Blanca!
Trading S/R with PA only. No indicators anymore!
  • #1,919
  • Mar 26, 2009 12:51pm Mar 26, 2009 12:51pm
Quoting Jazz1964
Hi Newline, 170/34 has been on my charts for a long time. I didn't like it much, because 170 is too long for me, too slow with determining trendreversals.
the same with 34. too slow for me with attending for possible entries.

Place them both on your chart and decide yourself what works best for you.

I see. i guess you have a very quick and precise instinct on your trade.
I just couldn't do that. it changed direction too fast on 89, 21 set up.

here's the chart that i made trades today. each approximately 10pips or less.
i buy 2 lots on each trade. so far $920 gain.

i'm very comfortable about this setup. what do you think?
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  • #1,920
  • Mar 26, 2009 12:57pm Mar 26, 2009 12:57pm
Quoting newline
I see. i guess you have a very quick and precise instinct on your trade.
I just couldn't do that. it changed direction too fast on 89, 21 set up.

here's the chart that i made trades today. each approximately 10pips or less.
i buy 2 lots on each trade. so far $920 gain.

i'm very comfortable about this setup. what do you think?

30min chart is my main guide. MACD is very important.
Today sentiment was going down, so i was more comfortable on trading down than up.
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