FX-50 Great Scalping System | Page 97 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Trying scalping with a 1000 bucks - Scalping is expensive! 39 replies

The Great 05 Level Scalping System 110 replies

1M & 5M Scalping System (Scalping Paradise) 21 replies

Blackdiamond System - Awesome scalping system (Coding Reqd) 9 replies

Average system + great discipline =great results? 44 replies

Attachments: FX-50 Great Scalping System
Exit Attachments

FX-50 Great Scalping System

  • #1,921
  • Mar 26, 2009 1:06pm Mar 26, 2009 1:06pm
So far so good. This thread gave me a much better idea.

my each day target was $500-$800 profit, and if i lost $2000, i stopped trading on that particular day. 3 to 4 days worth of damage is manageable.
this was my money management setup.

now with this new system that you guys gave me, i have to see whether i should increase each day's profit target or reduce time of work.

let's see for about a month how it turns out.

thanks,
  • #1,922
  • Mar 26, 2009 1:24pm Mar 26, 2009 1:24pm
Quoting newline
So far so good. This thread gave me a much better idea.

my each day target was $500-$800 profit, and if i lost $2000, i stopped trading on that particular day. 3 to 4 days worth of damage is manageable.
this was my money management setup.

now with this new system that you guys gave me, i have to see whether i should increase each day's profit target or reduce time of work.

let's see for about a month how it turns out.

thanks,

May I ask something Newline?
Do you trade Demo or Live?

D.
  • #1,923
  • Mar 26, 2009 1:25pm Mar 26, 2009 1:25pm
You could start with a shorter thread...

Or you could start with the FXPrime thread...read all of it...then start at the beginning of this thread, read all of the F4 thread, find out what CCI measures (try googling it).....read a few forex trading books, figure out how to use pivots, support and resistance, and how to use trendlines on H1, H4 and the daily, read up on fibs....stochatics and RSI is good stuff too.....trade a few months on demo, ask a bunch of questions to challenge us here, figure out a money management strategy, assess how much time you have to trade and when is the best times to trade, pick a few pairs and get intimate with them, try a few strategies to see what helps you see the price action, trade naked with no indicators, try some news trading (I suggest NFP for the thrill of it), fins out which threads on this forum have millions of posts and go see what the heck those guys are doing......

And there is some great price action stuff on FF...don't forget it.

Or you could read the last few posts, grab the latest template, and start trading GBPJPY...it moves fast and you can make lots on that pair....

You decide.

I don't mean to be a smart ass........but every time I see a post like yours....I can imagine someone losing a bunch of money because they did not put the effort into preparation.

My 2 cents.

Cheers
CanuckCT

Quoting guitarz
i feel this thread is too long to read the whole thread.
where shall i start ?

thanks
  • #1,924
  • Mar 26, 2009 2:10pm Mar 26, 2009 2:10pm
Quoting DirkH143
May I ask something Newline?
Do you trade Demo or Live?

D.
i've been trading forex for about 5 years.
I bankerupted my accounts so many times and lost so much money past few years. at that time, i approached with trading experience with dow and stocks. however, i wasn't successful.
I almost gave up on trading forex.

then i realized that my money managment was sucked.
i was looking for 400:1 leverage company and bet maximum with compounding process. you can't tolerate not even one losing trade.
my target was hitting $1 miilion in about a month or two.
i calculated on excel spread sheet that if i make 5pips per day, you will become a millionaire in a short period of time theoratically.
but with one mistake, your account goes down to the toilet.

now i only buy 10% on each trade. i still have some problem on cutting the loss, so i lose much bigger than the average winning amount. however, i'm still okay making profits each month. it's been about a year that i was doing well in forex market.

my broker was odls, but they moved out from usa. they transferred my accounts to fxdm this year. however, fxcm gave so much trouble.
so i was in the process of changing broker to ibfx. when i was idle, i found your thread. i put it to test on my real money since yesterday with just 1 lot.
i gained about 70pips yesterday.

today i increased to 2 lots and made near 50pips in 2 1/2 hours.

hey, now i have much higher hopes with thread if it works the way it worked today. i have to thank each of you guys making such a great system.

good luck to you all.
  • #1,925
  • Mar 26, 2009 2:29pm Mar 26, 2009 2:29pm
Quoting newline
i've been trading forex for about 5 years.
I bankerupted my accounts so many times and lost so much money past few years. at that time, i approached with trading experience with dow and stocks. however, i wasn't successful.
I almost gave up on trading forex.

then i realized that my money managment was sucked.
i was looking for 400:1 leverage company and bet maximum with compounding process. you can't tolerate not even one losing trade.
my target was hitting $1 miilion in about a month or two.
i calculated on excel spread sheet that if i make...

Respect to you my friend.
Shoot, every time when I hear things like that it's amazing to me how somebody destroys himself/herself (don't take it personally, I mean it in a general way) and does not give up. In this thread and previous threads, there are a lot of good and experienced people that help a lot and try to clarify problems as best as they can. Let's see if we can help you back on your feet, pal.
By the way, I was with ODL too. FXCM is not that bad and the spread is OK. The only thing that throws me off is that you have that funky half spread system of theirs.

Alright e` then.

D.
  • #1,926
  • Mar 26, 2009 2:30pm Mar 26, 2009 2:30pm
Quoting newline
i'm very comfortable about this setup. what do you think?
The original idea of the trendCCI170 and entryCCI34 was that you only should take the entry in the same direction of the trendCCI. So first the trendcci should be green before you take a longposition on the entryCCI crossing zero or +100 level.

So the trades I see on your chart are profitable (congratulation!!) but not conform FX50. I think now you understand why people tried to find different/shortere settings foor doubleCCI.
Trading S/R with PA only. No indicators anymore!
  • #1,927
  • Mar 26, 2009 2:48pm Mar 26, 2009 2:48pm
Quoting Jazz1964
Puzzle: Anyone can tell me what this is?
Really nobody??
That's too bad!

Okay here is the answer: My broker gave me some wrong data for several minutes on EURUSD, much much to high (4919.500)
that made that my chart was looking this nice.

I am sorry guys, I wanted to send the winner for a nice holiday....
Trading S/R with PA only. No indicators anymore!
  • #1,928
  • Mar 26, 2009 3:02pm Mar 26, 2009 3:02pm
Hi John!
Thx for your big contribution to this thread but i suggest you open a new thread or maybe post one big post with all the indi's and manuals.
I went back to page 100 but can't compile the brain indi(jazz, thx for trying to help but i cant enter the options for the indi because i cant uplaod it , it cant be compiled) , Then again i now see you work with version 3.2 which i cant find here and there are some new rules there (67 lines) needed to be explained. Too messy, can someone reorganize this entire version of the system?
  • #1,929
  • Mar 26, 2009 3:13pm Mar 26, 2009 3:13pm
Quoting HUnter123
i now see you work with version 3.2 which i cant find here and there are some new rules there (67 lines) needed to be explained.
Hunter, go to post 1871.
I think you better first learn the ribbons from the earlier templates before updating.

Sorry, I don't know what the problem is with braintrendsig4
Trading S/R with PA only. No indicators anymore!
  • #1,930
  • Mar 26, 2009 3:24pm Mar 26, 2009 3:24pm
John, what about these entries?
I didn't take the trades.
Attached Image (click to enlarge)
Click to Enlarge Name: ff.gif Size: 47 KB
Trading S/R with PA only. No indicators anymore!
  • #1,931
  • Edited 5:12pm Mar 26, 2009 4:46pm | Edited 5:12pm
anybody else had problems finding nice trades today? On the index I am trading it was difficult. I want to show you two charts. It is visible which one is better tradeble thanks to the ribbons......

Edited: attached another chart (the second) because it fits after the first one.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: b.gif Size: 52 KB
Click to Enlarge Name: c.gif Size: 45 KB
Trading S/R with PA only. No indicators anymore!
  • #1,932
  • Mar 26, 2009 5:16pm Mar 26, 2009 5:16pm
Hey Jazz, I don't blame you.
Today was not such a good day to trade. Rather difficult. I had to switch between 4-5 charts to find one that has some good movement is is not to choppy. Hope today will be better.

D.
  • #1,933
  • Mar 26, 2009 5:43pm Mar 26, 2009 5:43pm
Quoting HUnter123
Hi John!
Thx for your big contribution to this thread but i suggest you open a new thread or maybe post one big post with all the indi's and manuals.
I went back to page 100 but can't compile the brain indi(jazz, thx for trying to help but i cant enter the options for the indi because i cant uplaod it , it cant be compiled) , Then again i now see you work with version 3.2 which i cant find here and there are some new rules there (67 lines) needed to be explained. Too messy, can someone reorganize this entire version of the system?
Hi Hunter, if you go back to the posts where this was posted, there is another indi that needs to be added to the experts/include folder. I actually added this to the include folder as well as the experts/indicator folder to get the brain signal to show.

heres the indi

Pardy
Attached File(s)
File Type: mqh PriceSeries.mqh   6 KB | 545 downloads
  • #1,934
  • Mar 26, 2009 7:25pm Mar 26, 2009 7:25pm
Quoting DirkH143
Hey Jazz, I don't blame you.
Today was not such a good day to trade. Rather difficult. I had to switch between 4-5 charts to find one that has some good movement is is not to choppy. Hope today will be better.

D.
The best way to trade today was to use support and resistance and not the methods. However, if you have not practiced using S&R, Pivot Lines, and Fibs, you would've had problems anyway. I tried using the FX-50 and FX Prime JE systems but found it difficult to get a clean set-up.

Then I opened a new chart and used my indicators "auto pivots", "Fib Pivots", FiboRetracement3", and RD-PivotLines", and began to be successful. I was not able to get the big 20 or 30 pip profits but was able to get small profits of 3 to 5 pips which adds up on a day like today.
  • #1,935
  • Mar 26, 2009 10:01pm Mar 26, 2009 10:01pm
Hi John,
Thanks a lot for the new templates and examples in post 1897 and 1903. Looking forward to test out.

Regards
  • #1,936
  • Mar 27, 2009 2:37am Mar 27, 2009 2:37am
Quoting Pardy
Hi Hunter, if you go back to the posts where this was posted, there is another indi that needs to be added to the experts/include folder. I actually added this to the include folder as well as the experts/indicator folder to get the brain signal to show.

heres the indi

Pardy
Thx man, I've seen this indi and added it and still the same problem although the error of the compiling is that file missing. actually i have 2 computers,one with that problem and the other still cant copile the brain indi, very strange...
  • #1,937
  • Mar 27, 2009 2:54am Mar 27, 2009 2:54am
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
John, can you plz explain about how to useyour fx-prime_v2 final-je filter?
I can see there are two filters, you wait for white dots and enter only when BOTH filters allign in the same colour?
  • #1,938
  • Mar 27, 2009 3:31am Mar 27, 2009 3:31am
Quoting HUnter123
John, can you plz explain about how to useyour fx-prime_v2 final-je filter?
I can see there are two filters, you wait for white dots and enter only when BOTH filters allign in the same colour?
You'll find it on Post 1871
http://www.forexfactory.com/showthre...34759&page=125
  • #1,939
  • Mar 27, 2009 4:10am Mar 27, 2009 4:10am
Are this valid entries that failed?
Attached Image (click to enlarge)
Click to Enlarge Name: 12.gif Size: 27 KB
  • #1,940
  • Mar 27, 2009 4:46am Mar 27, 2009 4:46am
Quoting HUnter123
Are this valid entries that failed?
it looks like TF30 was in the game, it was a closing triangle.
I hope you took a short.....
Attached Image (click to enlarge)
Click to Enlarge Name: ff.gif Size: 35 KB
Trading S/R with PA only. No indicators anymore!
0 traders viewing now