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EUR/USD Scalp 1 min

  • #161
  • Apr 23, 2009 6:45am Apr 23, 2009 6:45am
Quoting colinpip
hoss, are you trading a real account now? are your results on par with your demo results?

i've been watching this thread closely as i trade a similar style on the short time frame and another system on 15M..
The results are the same, just not using the same kind of money. I wish I was! How do you do on the 15 minute?
Life is too short to have anything but delusional notions about yourself.
  • #162
  • Apr 23, 2009 7:17am Apr 23, 2009 7:17am
Quoting hoss
The results are the same, just not using the same kind of money. I wish I was! How do you do on the 15 minute?
Which broker are you with?

15M has been very good to me but I'm trying to stick to shorter timeframes. Fighting my impatience on every trade isn't worth it..

I really like the 30+ pips away from EMA200 alert idea. Everything is a little too close to EM200 right now for me to even look for setups so I might make a coffee and write that up real fast..
  • #163
  • Apr 23, 2009 8:21am Apr 23, 2009 8:21am
Hello All

Great thread. I put together an indicator that will signal when the price is a certain amount of pips away from the 200 EMA. That variable can be changed. It is set for 25 as default.

I am not a professional coder, but know enough to be dangerous. I use IBFX and they now use 5 digits and 3 digits for JPY. This indicator is set up for those parameters.

I am attaching the .ex4 version. Once I have a chance to clean up the coding, I will post the .mq4

I hope this helps.

Regards,

Mark
Attached File(s)
File Type: ex4 Distance from 200 EMA.ex4   4 KB | 643 downloads
  • #164
  • Apr 23, 2009 8:30am Apr 23, 2009 8:30am
Quoting colinpip
Which broker are you with?

15M has been very good to me but I'm trying to stick to shorter timeframes. Fighting my impatience on every trade isn't worth it..

I really like the 30+ pips away from EMA200 alert idea. Everything is a little too close to EM200 right now for me to even look for setups so I might make a coffee and write that up real fast..
Colinpip,
That would be a big help. Right now I just added a 30 and -30 level to my 200MA which helps some but an audible alert would be great.
  • #165
  • Apr 23, 2009 9:08am Apr 23, 2009 9:08am
Guys,

Just make sure you are using that indicator only in tandem with other confluences. You'll notice that when price really decides to break it can stay outside that level for a while and may put you in a bind if you get in too early. Use it only as a guide to see where you are at in relation to the 200. In a ranging market it will help a lot, in a trending it may not.
Life is too short to have anything but delusional notions about yourself.
  • #166
  • Apr 23, 2009 9:10am Apr 23, 2009 9:10am
Quoting colinpip
Which broker are you with?

15M has been very good to me but I'm trying to stick to shorter timeframes. Fighting my impatience on every trade isn't worth it..

I really like the 30+ pips away from EMA200 alert idea. Everything is a little too close to EM200 right now for me to even look for setups so I might make a coffee and write that up real fast..
Oanda. For now.
Life is too short to have anything but delusional notions about yourself.
  • #167
  • Apr 23, 2009 9:12am Apr 23, 2009 9:12am
anyone else go long around 10:02-10:03 EDT?
  • #168
  • Apr 23, 2009 9:49am Apr 23, 2009 9:49am
How do we avoid taking losses on price action like it is now, price been runnning up on upper b/b for the last 30mins or so, price drops down a little
then goes back up just enough to make rsi show overbought a couple of times, price is close to murray math line as well, have shorted twice and lost twice, any advice from anyone on how to avoid this would be much appreciated. Am using Alpari uk
Kind Regards
Geoff
  • #169
  • Apr 23, 2009 9:51am Apr 23, 2009 9:51am
Quoting colinpip
anyone else go long around 10:02-10:03 EDT?
Thought about that one but laid off. I was scared that is was heading toward the daily pivot at 76.
Life is too short to have anything but delusional notions about yourself.
  • #170
  • Apr 23, 2009 9:52am Apr 23, 2009 9:52am
Quoting Geoffrey
How do we avoid taking losses on price action like it is now, price been runnning up on upper b/b for the last 30mins or so, price drops down a little
then goes back up just enough to make rsi show overbought a couple of times, price is close to murray math line as well, have shorted twice and lost twice, any advice from anyone on how to avoid this would be much appreciated. Am using Alpari uk
Kind Regards
Geoff
I generally won't trade when price is this close to the 200 and not making new higher highs or lower lows. So this is a no trade zone for me. If price breaks above 3087 I will start looking for entries again. Also, on Oanda, RSI has not been holding above 80 through this run.
Life is too short to have anything but delusional notions about yourself.
  • #171
  • Apr 23, 2009 11:23am Apr 23, 2009 11:23am
Thanks Hoss
Am in learning mode at moment but really like the simple system
Geoff
  • #172
  • Apr 23, 2009 11:28am Apr 23, 2009 11:28am
Quoting jamalima
Hello All

Great thread. I put together an indicator that will signal when the price is a certain amount of pips away from the 200 EMA. That variable can be changed. It is set for 25 as default.

I am not a professional coder, but know enough to be dangerous. I use IBFX and they now use 5 digits and 3 digits for JPY. This indicator is set up for those parameters.

I am attaching the .ex4 version. Once I have a chance to clean up the coding, I will post the .mq4

I hope this helps.

Regards,

Mark
Jamalima,
Thanks much for the indicator. Will give it a try. I agree with Hoss that we shouldn't be using this alone to be making our trading decision.
  • #173
  • Apr 23, 2009 12:49pm Apr 23, 2009 12:49pm
I am just using the indicator as a guide and am not looking to trade by it. It alerts me to when I might start looking for a trade.

I completely agree with the observations of Toothman and Hoss.

Regards,

Mark
  • #174
  • Edited 3:36pm Apr 23, 2009 3:14pm | Edited 3:36pm
Quoting jamalima
Hello All

Great thread. I put together an indicator that will signal when the price is a certain amount of pips away from the 200 EMA. That variable can be changed. It is set for 25 as default.

I am not a professional coder, but know enough to be dangerous. I use IBFX and they now use 5 digits and 3 digits for JPY. This indicator is set up for those parameters.

I am attaching the .ex4 version. Once I have a chance to clean up the coding, I will post the .mq4

I hope this helps.

Regards,

Mark
Jamalima,
Will this have an audible alert with it? I put it on the chart but no setting for an alert. thanks
  • #175
  • Apr 23, 2009 8:43pm Apr 23, 2009 8:43pm
Toothman

I am not sure I know how to program an audible alert. I am not really a programmer, just a program modifier. I hope to have some time over the weekend to look at this.

Regards,

Mark
  • #176
  • Apr 23, 2009 9:06pm Apr 23, 2009 9:06pm
Quoting colinpip
Which broker are you with?

15M has been very good to me but I'm trying to stick to shorter timeframes. Fighting my impatience on every trade isn't worth it..

I really like the 30+ pips away from EMA200 alert idea. Everything is a little too close to EM200 right now for me to even look for setups so I might make a coffee and write that up real fast..
colinpip,
Do you think you could come up with an audible alert? If possible could you also code to put a constant pips away from 200MA number displayed on the chart somewhere? Thank you.
  • #177
  • Apr 23, 2009 11:40pm Apr 23, 2009 11:40pm
Quoting hxcjf
Oh, its not too good to be true. It works, and many people clean up on mean reversion strategies with aggressive compounding. They don't post here because they're out on a beach somewhere, lol. You just have to use a broker with honest quotes. Just don't get caught by an outlier that wipes out all your profits.
Hi thread,

(...speaking of honest quotes....)

I be goin' live soon. Oanda. But thanks to the cautionary tales of hxcjf (and many others) I decided to hold back half of my grub stake and check out scalping on the CME. I am demo'ing Global Futures and Mirus Futures. Spent today scalping per the general thread method on the euro futures. Results just the same, but easier. Order flow/volume are shown for all to see. Not sure that trendlet you'd like to fade is ready to pull the trigger on? When you can see bid/ask ratio stacked up 4:1 - well that's quite a clue.

If ya'll have not checked into trading currency futures I invite you to do yourselves a favor.

Good luck all.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #178
  • Apr 24, 2009 2:44am Apr 24, 2009 2:44am
I also use Oanda, but I'm thinking about switching to MB Trading. Right now I use Ninjatrader for charting and place orders with Oanda. I tried Ninjatrader a few times. At first it was too much of a learning curve for me, and I gave up.
Later, I discovered that NT had a few unique indicators that I'd like to try, and this motivated me to make myself get used to it. The reason I bring all of this up in this forum is that one of the indicators might be helpful for this method of trading. It's an RSI that overlays the candles. I know it's not available at Oanda, but it may be available for MT4, since many NT indicators were ported from MT4.

http://www.ninjatrader-support2.com/...nkid=13&size=0
  • #179
  • Apr 24, 2009 5:42am Apr 24, 2009 5:42am
Toothman

Here is the on screen indicator that provides the distance from the 200 EMA.

Regards,

Mark
Attached File(s)
File Type: mq4 Numerical Distance from 200 EMA.mq4   2 KB | 796 downloads
  • #180
  • Edited 7:18am Apr 24, 2009 6:58am | Edited 7:18am
Quoting jamalima
Toothman

Here is the on screen indicator that provides the distance from the 200 EMA.

Regards,

Mark
Mark,
Now that's pretty cool! This is a great addition. Thanks much. Now if someone can add an alert to this number.
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