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Iphone Scalping

  • #1
  • First Post: Jun 3, 2009 3:39am Jun 3, 2009 3:39am
Ok after so many requests well posting on the G/J thread i have gone and done it!

Set up my own thread to show others how i scalp i will set about over the next days and weeks uploading my template and indi's i use along with explaining how to use them.

As many of you know i target 100 pips a day in London and then i stop trading for the day i have found that by trading like this i stay fresh and my mind does not wonder to other none trade things

My system is very simple and uses low time frames and indi's that you can already find on most MT4 platforms along with 2-3 others you can't like auto fib and R and S points.

I only ever open 1 trade at a time and i lock in profit fast and use stops of no more than 20 pips.

As long as 100 pips a day are done im happy as this allows me to grow my account fast i also use profit made to compound.

Any questions you can post here or PM me

Rules:

Please only questions about my system here
No selling or promoting websites or EA's
No links to websites

This thread is just for those who want to improve thier scalping trades, if you are a swing trader or long term trader this is not for you most of my trades only last under 5 mins.

Ok i will start getting my template and indi's uploaded and look forward to chatting to others about it here.
Attached File(s)
File Type: mq4 sr lines.mq4   15 KB | 1,434 downloads
  • #2
  • Jun 3, 2009 3:42am Jun 3, 2009 3:42am
Nice,

what application do you use on your iphone? do you find it easy to scalp on the small screen and connectivity?

Cheers WG
  • #3
  • Jun 3, 2009 3:52am Jun 3, 2009 3:52am
Quoting welshguy2000
Nice,

what application do you use on your iphone? do you find it easy to scalp on the small screen and connectivity?

Cheers WG
i use VPS i upload my platform and login to it there, also you can use gotomypc.

it is not easy but i got used to it i use only to trade now and again

I am having an App made right now that will make it simple to use iphone to trade ill keep you posted.
  • #4
  • Jun 3, 2009 4:03am Jun 3, 2009 4:03am
attached is the chart temp i use you will need download the sr lines from my first post and add it to your platform in indi's
Attached File(s)
File Type: tpl iphone.tpl   8 KB | 1,126 downloads
  • #5
  • Jun 3, 2009 4:13am Jun 3, 2009 4:13am
Quoting Iphonetrader
i use VPS i upload my platform and login to it there, also you can use gotomypc.

it is not easy but i got used to it i use only to trade now and again

I am having an App made right now that will make it simple to use iphone to trade ill keep you posted.
so you only use your iphone to control your PC, you dont actually use something like:

http://www.forexonthego.com/

i'm interested in how you do! Good luck!

Cheers wg
  • #6
  • Jun 3, 2009 4:16am Jun 3, 2009 4:16am
here is my last 7 trades

remember every trade has a -20 stoploss

Rules for long trades:

When red line of stoc goes below 10 buy

Rules for short trades:

When red line of stoc goes above 90 sell

this is just the basics there is more of course but to start with follow this rule and close the trade as soon as you see profit.

I will add more details on how to set a target and when not to take a trade and which trades are 100% guarantees.

As you can see following the basic rules i did 7 trades and lost 1 trade - 20 the rest all made pips and i was up over 50 after the loss.

Any questions ask
Attached Image (click to enlarge)
Click to Enlarge Name: 7 trades.JPG Size: 130 KB
  • #7
  • Jun 3, 2009 4:21am Jun 3, 2009 4:21am
Quoting welshguy2000
so you only use your iphone to control your PC, you dont actually use something like:

http://www.forexonthego.com/

i'm interested in how you do! Good luck!

Cheers wg
i have this app but you can not place trades with it as of yet, i use as you said to control my home pc.

I am in middle of having App built that will a) send out free signals and b) allow others to trade any MT4
  • #8
  • Jun 3, 2009 4:22am Jun 3, 2009 4:22am
what is your risk% on that 20 pip stop loss?
  • #9
  • Jun 3, 2009 4:28am Jun 3, 2009 4:28am
Quoting welshguy2000
so you only use your iphone to control your PC, you dont actually use something like:

http://www.forexonthego.com/

i'm interested in how you do! Good luck!

Cheers wg
so it can also be called Blackberry scalping it's ahead of iphone sales here in the states
  • #10
  • Jun 3, 2009 4:32am Jun 3, 2009 4:32am
Thanks for your system. I love scalping too.
Can you please post all the rules? I mean when not to
enter, the 100% trades, etc. I would love to learn from you
how to use my I-phone to scalp. I used to use a lap top and payed
about $90 a month for wireless access. By using the I-phone I
can forget about the lap top.

Thanks.
  • #11
  • Jun 3, 2009 4:37am Jun 3, 2009 4:37am
What MT4 brokers chart are you using, so we can match your charts exactly? Thanks.
  • #12
  • Jun 3, 2009 4:39am Jun 3, 2009 4:39am
Quoting AceOfTrades
what is your risk% on that 20 pip stop loss?

Well i would say to all only risk 1% per trade, i risk 5% per trade i only ever have 1 open trade.

As i go on and explain more you will see the -20 trade would not be taken and if you had took it would have closed out for -10

i took the trade only to show win/lose ratio and to make sure you can see that loss is limited
  • #13
  • Jun 3, 2009 4:43am Jun 3, 2009 4:43am
Quoting orientos
What MT4 brokers chart are you using, so we can match your charts exactly? Thanks.

you can use any MT4 charts
  • #14
  • Jun 3, 2009 4:51am Jun 3, 2009 4:51am
but if you are risking 5% a trade for 20 pips SL and u make 100 pips a day then u would make 25% a day thus making you a bazillionare in a few weeks if u compound it.
  • #15
  • Jun 3, 2009 4:53am Jun 3, 2009 4:53am
Quoting AceOfTrades
but if you are risking 5% a trade for 20 pips SL and u make 100 pips a day then u would make 25% a day thus making you a bazillionare in a few weeks if u compound it.
He didn't say he was poor
  • #16
  • Jun 3, 2009 5:13am Jun 3, 2009 5:13am
Quoting AceOfTrades
but if you are risking 5% a trade for 20 pips SL and u make 100 pips a day then u would make 25% a day thus making you a bazillionare in a few weeks if u compound it.
You are correct but like most people i have limits i have been stuck trading my current lot size for over 4 months now as im happy with the returns i make each day ( 100% of lot traded )

If i had the balls to keep going im sure it would grow and grow but for me im in a good place and happy to stay were i am
  • #17
  • Jun 3, 2009 5:28am Jun 3, 2009 5:28am
Where do you take profit?

How much spread are you paying on G/Y?
  • #18
  • Jun 3, 2009 5:37am Jun 3, 2009 5:37am
Quoting billbss
Where do you take profit?

How much spread are you paying on G/Y?

i trade 6 pip spread on g/j i take around 5 -30 pips as tp
  • #19
  • Jun 3, 2009 6:25am Jun 3, 2009 6:25am
i have attached an example of trades taken over past 24 hrs to give an idea of what can be done, it is demo before you ask and the rules are a little different as i will have up to 5 open trades but only one per pair.

Getting in to a trade and letting profits run can add lots of return to an account but as always you need to follow MM very well.
Attached Image (click to enlarge)
Click to Enlarge Name: update.JPG Size: 90 KB
  • #20
  • Jun 3, 2009 6:53am Jun 3, 2009 6:53am
Quoting Iphonetrader
i have attached an example of trades taken over past 24 hrs to give an idea of what can be done, it is demo before you ask and the rules are a little different as i will have up to 5 open trades but only one per pair.

Getting in to a trade and letting profits run can add lots of return to an account but as always you need to follow MM very well.
simply amazing!
If it floats, flies, or f%^ks, rent it, it's cheaper.
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