DislikedThis signal was not taken, because it has been within 10 pips from pivots (daily monthly and weekly)Ignored
I now marked the best entry point.
Attached Image (click to enlarge)
- #2,765
- Sep 24, 2009 3:02am Sep 24, 2009 3:02am
Everything considering indicators and settings has been discussed in this thread and very detailed descriptions are included in the Manual. There have also been some templates posted, including a basic one by Glen that can be used as a starting platform.
I'm still learning this strategy. Just a little question. Whether I should take long while PA get touched two pips over the signal bar, or wait till PA get closed over two pips of the signal bar.
Perhaps it's not a good question but I read the manual but not get clear at this point.
Thx very much for your sharing of this wonderful method!!
- #2,766
- Sep 24, 2009 3:11am Sep 24, 2009 3:11am
Thanks for your answer.
I'm still learning this strategy. Just a little question. Whether I should take long while PA get touched two pips over the signal bar, or wait till PA get closed over two pips of the signal bar.
Perhaps it's not a good question but I read the manual but not get clear at this point.
Thx very much for your sharing of this wonderful method!!
- #2,768
- Sep 24, 2009 5:33am Sep 24, 2009 5:33am
I use a modified version of Scalper Signals where MA can be absolutely eliminated. Made by Royston.
In the original one you can practically eliminate the influence of MA by setting its period to 4 or 6.
And there cannot be any high or low of MA as MA is just a line
As for the 2 Scalper Signals, I have overlayed them & they appear to be the same from the 5M to the 1D TF's. The yellow arrows are from Roy's adjusted indie & the others are from SwingMan's indie.
See the attached 5M chart.
I trade what I see on my charts.
Do Not listen to the Muppets.
- #2,770
- Sep 24, 2009 5:51am Sep 24, 2009 5:51am
- Joined Jun 2009 | Status: Trader | 2,430 Posts
An MA is just a line. The fact remains that when the PA crosses these points a signal is generated.
As for the 2 Scalper Signals, I have overlayed them & they appear to be the same from the 5M to the 1D TF's. The yellow arrows are from Roy's adjusted indie & the others are from SwingMan's indie.
See the attached 5M chart.
The influence of MA is not needed with this system, so it is better to eliminate it.
- #2,772
- Sep 24, 2009 6:05am Sep 24, 2009 6:05am
- Joined Jun 2009 | Status: Trader | 2,430 Posts
I'm surprised you took that loser Indrek, don't you usually wait for a fresh 5min signal?
The result would be the same if to look at the next signal...
- #2,774
- Sep 24, 2009 8:55am Sep 24, 2009 8:55am
You don't need it to close, just go over the signal candle by 2 pips.
I post a trade I have just taken at number 2, got 10pips. Still there is a question. Should I usually wait a new 5m signal like at number 2 ? How can I handle the situation like numer 1 ? (of course at this case, number 1 is not a real signal)
- #2,775
- Sep 24, 2009 9:12am Sep 24, 2009 9:12am
- Joined Jun 2009 | Status: Trader | 2,430 Posts
Thx your answer so quickly, my friend!!
I post a trade I have just taken at number 2, got 10pips. Still there is a question. Should I usually wait a new 5m signal like at number 2 ? How can I handle the situation like numer 1 ? (of course at this case, number 1 is not a real signal)
Attachment
Earlier I always waited for a new (fresh) 5m signal. But then I noticed that Glen is not doing it. So, I also changed my approach and sometimes I do wait for a new signal and sometimes I do not. It is upon traders discretion how to handle this. Depends 100% on your personal estimation of the market situation.
When only beginning with the system, I think it is safer to wait for the first retracement and a new signal.
- #2,776
- Sep 24, 2009 9:18am Sep 24, 2009 9:18am
60,15,5
Why is nobody posting losing trades?
Hi, Indrek. First of all thanks again for this powerful trading strategy sharing!!
According to the manual frome 1st page, we should wait M15 changes trend after M60 and the same to M5. Not at the same time M60 changes trend with M15 and M5. So I always wait M60, then M15 makes a retracement, and then M5 shows a signal and get in.
Have I missed something or did wrong??
- #2,777
- Sep 24, 2009 9:25am Sep 24, 2009 9:25am
As you see from my previous post, I took both trades - number 1 and number 2. And I cannot agree that number 1 was not real. If you see sth happening under your own eyes, how can you say that it is not real
Earlier I always waited for a new (fresh) 5m signal. But then I noticed that Glen is not doing it. So, I also changed my approach and sometimes I do wait for a new signal and sometimes I do not. It is upon traders discretion how to handle this. Depends 100% on your personal estimation of the market situation.
When only beginning with the...
My reason for Num.1 is not a good signal just because it shows PA is approaching to a pivot level. But on your pic I saw different pivot levels so maybe it's good for you.
- #2,779
- Sep 24, 2009 10:40am Sep 24, 2009 10:40am
- Joined Jun 2009 | Status: Trader | 2,430 Posts
My reason for Num.1 is not a good signal just because it shows PA is approaching to a pivot level. But on your pic I saw different pivot levels so maybe it's good for you.
BTW: Why did you repost my chart?