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Cable Update (GBPUSD)

  • #150,861
  • Jul 25, 2009 9:27pm Jul 25, 2009 9:27pm
lol

this is the benefit the scalper's enjoy

never bother where the market is headed, just keep collecting

absolutely no worries about what will happen in future ............
  • #150,862
  • Jul 25, 2009 9:41pm Jul 25, 2009 9:41pm
Quoting paulw6182
good going forexlion that looks like your using standard macda settings 12/26/9 is that right? how about ading levle +70 -70 and call it no trade zone i love the fact you done it super simple way try harder right. i looking at macda dot indicator right now looks visualy helpful im going to try and modifiy it with 7070 levels i like your simple way of doing it even more then anything in c4 tread. Thanks
how do you add +70 and -70 levels ??
  • #150,863
  • Jul 25, 2009 9:44pm Jul 25, 2009 9:44pm
Quoting forexlion
lol

this is the benefit the scalper's enjoy

never bother where the market is headed, just keep collecting

absolutely no worries about what will happen in future ............
This is true.

Can you enlighten me more on this 5 minutes scalpers chart of yours?

http://www.forexfactory.com/showpost...stcount=150829
Great Bodies are Engineered not Born
  • #150,864
  • Jul 25, 2009 9:47pm Jul 25, 2009 9:47pm
Quoting paulw6182
good going forexlion that looks like your using standard macda settings 12/26/9 is that right? how about ading levle +70 -70 and call it no trade zone i love the fact you done it super simple way try harder right. i looking at macda dot indicator right now looks visualy helpful im going to try and modifiy it with 7070 levels i like your simple way of doing it even more then anything in c4 tread. Thanks
back tested dot indicator

gives some really bad trades and false signals, i would give it 9 on risk scale of 0 to 10
  • #150,865
  • Jul 25, 2009 9:49pm Jul 25, 2009 9:49pm
Quoting RichLadyFX
This is true.

Can you enlighten me more on this 5 minutes scalpers chart of yours?

http://www.forexfactory.com/showpost...stcount=150829

  1. Never open any trade closer to the 0 line in the center, this is maximum risk
  2. The further you are from the 0 line the better are your chances of picking up something meaningful
  3. And always compare with the next higher and lower time frames about a good trade plan.

  • #150,866
  • Jul 25, 2009 9:56pm Jul 25, 2009 9:56pm
Quoting forexlion

  1. Never open any trade closer to the 0 line in the center, this is maximum risk
  2. The further you are from the 0 line the better are your chances of picking up something meaningful
  3. And always compare with the next higher and lower time frames about a good trade plan.

Since its a 5 minute chart, the lower TF is obviously 1 min. The next higher one will be 15. The rest just ignore?
Great Bodies are Engineered not Born
  • #150,867
  • Jul 25, 2009 10:04pm Jul 25, 2009 10:04pm
Quoting RichLadyFX
Since its a 5 minute chart, the lower TF is obviously 1 min. The next higher one will be 15. The rest just ignore?
which chart is better for trading here

5 min

or

1 hour

which of the two is easier to trade
Attached Image(s) (click to enlarge)
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  • #150,868
  • Jul 25, 2009 10:06pm Jul 25, 2009 10:06pm
Quoting forexlion
which chart is better for trading here

5 min

or

1 hour

which of the two is easier to trade
and where can you collect maximum pips ?
  • #150,869
  • Jul 25, 2009 10:12pm Jul 25, 2009 10:12pm
Quoting forexlion
which chart is better for trading here

5 min

or

1 hour

which of the two is easier to trade
5 minutes give more details outlook on the actions of buyer and seller. Which one better for trading? teach me.
Great Bodies are Engineered not Born
  • #150,870
  • Jul 25, 2009 10:14pm Jul 25, 2009 10:14pm
Quoting forexlion
and where can you collect maximum pips ?
Maximum pips per trade only if you are day trader or if you swing. Maximum pips in many trades if you scalp.
Great Bodies are Engineered not Born
  • #150,871
  • Jul 25, 2009 10:16pm Jul 25, 2009 10:16pm
Quoting RichLadyFX
Maximum pips per trade only if you are day trader or if you swing. Maximum pips in many trades if you scalp.
and the world's best scalper is malcolmb14 , do you really think he is trading on daily or weekly charts ??

he trades 5 min charts.
  • #150,872
  • Jul 25, 2009 10:21pm Jul 25, 2009 10:21pm
Quoting forexlion
and the world's best scalper is malcolmb14 , do you really think he is trading on daily or weekly charts ??

he trades 5 min charts.
Wow, i thought he is on long trades with all the fundamental about the economy and what is happening around us. If you scalp, why bother? After all you after only 10-20 pips?
Great Bodies are Engineered not Born
  • #150,873
  • Jul 25, 2009 10:27pm Jul 25, 2009 10:27pm
Quoting forexlion
and the world's best scalper is malcolmb14 , do you really think he is trading on daily or weekly charts ??

he trades 5 min charts.
Let me help Malc to answer .. lol ..
Malc uses volume indi to trade which is exactly where supply and demand are coming, and yours uses re-paint indi. Looks very good and profittable on history charts .. this technique is most likely doomed to failure as it is not consistent. It does good when the market is trending in big range otherwise bye-bye ..
Anyway, you're an experienced trader .. u know what am talking about ..
  • #150,874
  • Jul 25, 2009 10:30pm Jul 25, 2009 10:30pm
Quoting mktjong
Let me help Malc to answer .. lol ..
Malc uses volume indi to trade which is exactly where supply and demand are coming, and yours uses re-paint indi. Looks very good and profittable on history charts .. this technique is most likely doomed to failure as it is not consistent. It does good when the market is trending in big range otherwise bye-bye ..
Anyway, you're an experienced trader .. u know what am talking about ..
It confused me !
Great Bodies are Engineered not Born
  • #150,875
  • Edited 11:08pm Jul 25, 2009 10:34pm | Edited 11:08pm
Quoting RichLadyFX
It confused me !
Try it with real time trading and experience yourself with this 5 min scalping. If u can consistently make profit in a week, I'd salute u. My point is: this is not what u should learn to trade. I know, scalping is very lucrative as it can gain big pips in short time and very exciting doing it as well, your adrenalin is pumping quicker ..
But if u don't have enough tools to trade. It's almost certain to failure and I can assure u, this 5 min strategy is not the tool.
  • #150,876
  • Jul 25, 2009 10:53pm Jul 25, 2009 10:53pm
Quoting mktjong
Try it with real time trading and experience yourself with this 5 min scalping. If u can consistently make profit in a week, I'd salute u. My point is: this is not what u should learn to trade. I know, scalping is very lucrative as it can gain big pips in short time and very exciting doing it as well, your adrenalin is pumping quicker ..
But if u don't have enough tools to trade. It's almost certain to failure.
What are the tools required? Scalping interests me since i can spend as many hour as i like in front my laptop.
Great Bodies are Engineered not Born
  • #150,877
  • Jul 25, 2009 11:01pm Jul 25, 2009 11:01pm
Quoting RichLadyFX
What are the tools required? Scalping interests me since i can spend as many hour as i like in front my laptop.
Please ask Malcolmb, I think he is the best here
One tool I know is trading using VSA (volume spread analyzer). It is not exactly the same as volume indi on MT4 platform. Here is the website you can learn and subscribe http://tradeguider.com/. The cost is only a fraction compares to your consistent profit. In addtion, I don't think it's that easy to learn too. But hey if we're serious in this business, we need to invest just like earning a degree. Needs a lot of their instructions and practice first. I myself use quite a similar platform but a different company. And I still found out to trade using higher time frame is the best, more reliable, and more consistent.
  • #150,878
  • Jul 25, 2009 11:14pm Jul 25, 2009 11:14pm
Quoting mktjong
Please ask Malcolmb, I think he is the best here
One tool I know is trading using VSA (volume spread analyzer). It is not exactly the same as volume indi on MT4 platform. Here is the website you can learn and subscribe http://tradeguider.com/. The cost is only a fraction compares to your consistent profit. In addtion, I don't think it's that easy to learn too. But hey if we're serious in this business, we need to invest just like earning a degree. Needs a lot of their instructions and practice first. I myself use quite a similar platform...
Thanks for the assistance. I have small business that runs automatically. Nothing big but it pays the bills with nothing much left. With that, i'm free to spends my time as much as ilike learning and trading forex.

As for the words in red, is that applicable to scalpers too?
Great Bodies are Engineered not Born
  • #150,879
  • Jul 26, 2009 12:21am Jul 26, 2009 12:21am
Quoting mktjong
Please ask Malcolmb, I think he is the best here
One tool I know is trading using VSA (volume spread analyzer). It is not exactly the same as volume indi on MT4 platform. Here is the website you can learn and subscribe http://tradeguider.com/. The cost is only a fraction compares to your consistent profit. In addtion, I don't think it's that easy to learn too. But hey if we're serious in this business, we need to invest just like earning a degree. Needs a lot of their instructions and practice first. I myself use quite a similar platform...
just a small question, if vsa is so good, why the need to sell stuff on tradeguider ? my experience says anything being sold means the person is not making money trading.
  • #150,880
  • Jul 26, 2009 12:46am Jul 26, 2009 12:46am
Dear Forexlion:
I have been closely following your calls lately in this thread. A few days ago you had mentioned about an EA that you had developed which produced a straight line (with a positive slope) no matter which pair or time frame you tried. We all agree with you that this is too good to be true. May I however, try it on my live account? Ofcourse the usual risk disclaimer applies, and this remains your copyrighted property and absolutely no dissemination from my side. Thanks and regards. Aman.
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