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EUR/USD Scalp 1 min

  • #201
  • May 12, 2009 12:16pm May 12, 2009 12:16pm
Trading using the principles of the HOSS System.
I trade using TradeStation because I have a couple of years of experience on the platform and it allows for excellent customization and automation.
I use the Bollinger Bands (2,20), the RSI (8, 80, 20), and finally was able to get MM going as well.

I also use the E/U and U/J because of the lower spread.
I created alerts on the RSI at 75 and 25 to alert me to potential set ups. It allows me to take my eyes off the screen until it is time.

Papertraded the system for 3 weeks and went live last week. It is working out beautifully. I am averaging 4-5 entries per day so far because I prefer to miss rather than Mi$take.
I am sure I will safely recognize more entries as I gain more experience with the Price Action at the reversal points.

If anyone else is using TradeStation, let me know. The MM indicator is not straightforward but what I have is working.
  • #202
  • May 13, 2009 12:39pm May 13, 2009 12:39pm
Seems like a decent strategy. Going to try this out.

Thanks


Anybody else live trading a similar method?
  • #203
  • May 13, 2009 2:37pm May 13, 2009 2:37pm
i want to learn ur way plz
send me eplanition for this way and the best time for it also the best pairs for it.
plz i need it very much i'm about to be 0 balance .
send me it in private msg plz .
and ur indicators
  • #204
  • May 13, 2009 9:49pm May 13, 2009 9:49pm
If you have almost a blown account I think the first thing is to start funding the account.

Don't expect 700% gain from scalping, maybe after years of learning, practice, live trading and losing you can do it.

No set and forget system based on indicators is going to get you this much, stop fooling yourself. My intention is not to be rude but to wake you up out of your bad beginners dream. For me it took 10% loss of my account and 6 months to wake up, don't postpone it for yourself.

I would also urge you to read this: http://www.forexfactory.com/showthread.php?t=39514.

Quoting darsh_7ob87
i want to learn ur way plz
send me eplanition for this way and the best time for it also the best pairs for it.
plz i need it very much i'm about to be 0 balance .
send me it in private msg plz .
and ur indicators
  • #205
  • May 13, 2009 10:24pm May 13, 2009 10:24pm
Quoting hoss
Hi there,

Using RSI(8) with levels set at 20 and 80. Had sixteen positive trades today. The key is to wait until RSI is overbought/sold as price hits support/resistance. Even better with divergence. I sometimes add to a position if price moves against me, but you have to be careful with that if it moves too far. As long as you have proper money management in place.
Do you use a SL ?
Thx!
  • #206
  • May 14, 2009 4:44am May 14, 2009 4:44am
Quoting jdcabona
Do you use a SL ?
Thx!
Scalping without a stop loss is a very dangerous game...you should use a stop when scalping...period
  • #207
  • May 14, 2009 3:04pm May 14, 2009 3:04pm
Quoting opt24x
Trading using the principles of the HOSS System.
I trade using TradeStation because I have a couple of years of experience on the platform and it allows for excellent customization and automation.
I use the Bollinger Bands (2,20), the RSI (8, 80, 20), and finally was able to get MM going as well.

I also use the E/U and U/J because of the lower spread.
I created alerts on the RSI at 75 and 25 to alert me to potential set ups. It allows me to take my eyes off the screen until it is time.

Papertraded the system for 3 weeks and went live last...
Glad to see it working for you!
Life is too short to have anything but delusional notions about yourself.
  • #208
  • May 19, 2009 8:56pm May 19, 2009 8:56pm
Quoting hoss
Glad to see it working for you!
I like your thread. I am going to use resembling strategy with stochastic in addition. And im going to trade with Oanda. In FXGame order execution is very fast. Is it so in FXTrade? I want to try the strategy without fixed TP.

Sorry for my english.
  • #209
  • May 21, 2009 3:45pm May 21, 2009 3:45pm
Quoting its_time
I like your thread. I am going to use resembling strategy with stochastic in addition. And im going to trade with Oanda. In FXGame order execution is very fast. Is it so in FXTrade? I want to try the strategy without fixed TP.

Sorry for my english.
Suit the strategy to yourself. Just make sure you are consistent with it and don't change the rules on yourself all the time.
Life is too short to have anything but delusional notions about yourself.
  • #210
  • Edited 5:53am Jun 5, 2009 5:11am | Edited 5:53am
Hello Hoss,
I find your thread very valuable for myself. Thanks for sharing your ideas.
Here is one of the trades i took following your strategy. RSI showed divergence. Price moved out of BB. It was more than three waves in one direction. Price was far from 200EMA. Took 10 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: June 4, 2009.jpg Size: 218 KB
  • #211
  • Jun 14, 2009 10:18am Jun 14, 2009 10:18am
Hi Hoss,
I like your system cause it is base on price action. But I still dont get it clear. Can you make a summary on your entry and exit, tp, sl, etc..

Thanks a lot Hoss..
  • #212
  • Sep 28, 2009 3:15pm Sep 28, 2009 3:15pm
This stuff works. Thanks Hoss for brilliant education on how to scalp. You've given me a blessing.

Attached are 4 trades during the NY afternoon session.

Have question on MM. If I reenter up to 10 times as you say, I'll need to use a microlot for a $1,000 account example. If I lose say 50 pips that would be say an average of 25 pips lost for 10 entries, or 250 pips; so I would be able to trade 10 cents/pip to risk 2.5% or $25/trade. You are now so confident that you can risk 4 times this, or 10% which is $0.40/pip for each $1,000 of capitol. Is this correct?

God bless you,

Steve
Attached Image (click to enlarge)
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  • #213
  • Sep 28, 2009 4:58pm Sep 28, 2009 4:58pm
During the last 3 hours I've been at my pc off and on; left and ran an errand for 30 minutes. But I profited 6 winning trades of 32 pips. That's a wow for me.

I've scalped before unsuccessfully.


What Hoss taught me so far is to trade toward the 1m 200ema and expect best trades when price is moving toward the 15m and 1h 200ema.

Divergence confirms entries when they test BB20 bands, especially near murray math lines and even better if they converge with pivots.

Trade after a new high/low and even better after 2nd or 3rd surge or wave into the new H/L.

After consolidation, don't trade till its exhausted at least 2 times.


Would be great to have a trading group led by Hoss to keep discussing this.

Hoss, come back. We need you...

God bless you for teaching me this valuable technique.

Steve
Attached Image (click to enlarge)
Click to Enlarge Name: Eu scalp.png Size: 34 KB
  • #214
  • Sep 29, 2009 12:59pm Sep 29, 2009 12:59pm
There were two perfect setups using Hoss's method today:

  1. trading long toward 15m and 1h 200ema
  2. new lows
  3. 3rd wave of price swing
  4. at support: pivots, MM
  5. divergence
  6. out of BB20 (one was prior to entry which is acceptable)
  7. separated from 5ema

The trades paid 34 and 27 pips to the 200ema; While Hoss trades for 5 pips I stayed in the trades longer. Seems reasonable since we are trading toward the 15m and 1h 200e to risk staying in longer.

It worked. This is a big opportunity to make some pips.

See attached charts. The time is in Eastern Daylight Time.

Thanks Hoss!

Steve

Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu hoss2.gif Size: 41 KB
Click to Enlarge Name: eu hoss.gif Size: 44 KB
  • #215
  • Sep 29, 2009 8:19pm Sep 29, 2009 8:19pm
Here's a chart similar to one Hoss posted with 3 entries off a long period of divergence. Only problem I see is it was around 20 pips from 200e. Hoss prefered 30 but seemed close enough to me.

I took the first one, got greedy and reentered at the 2nd one and averaged out with 5 pips.
Attached Image (click to enlarge)
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  • #216
  • Oct 2, 2009 3:57am Oct 2, 2009 3:57am
i know some brokers restrict orders less then 1-2 minutes, they just don't allow you to make it (and many stipulate it in their agreements)
  • #217
  • Edited 10:40am Oct 2, 2009 10:21am | Edited 10:40am
M1 scalping it's like shooting in the dark.

You cannot apply any Idies or at least rely on them,

cause Time frame is simply too short. If you somewhat have a

feelings about when to buy and when to sell, then you don't need

any of them. I'm sure in long term everyone who doing "scalping"

will lose eventually.,

Your settings and indies are OK, USE Daily time frame and buy

at lower BAND without any SL, if it goes lower, buy bigger lot

average down like 0.50 0.60 0.70 0.80 LOT and so on within same distance

say 60 pips. Ones finally trade reverses, you going to collect big $

And it will reverse, always does.. In that case I use CCI (14) on daily

Buy low Sell high all you gotta do. But, of course, it could take even 1-2 weeks,,

till everything runs your way, but hey, I can wait even 2 weeks for 10% profit

Draw Daily Chart Apply Bands Indy which you are using and CCI (14)
Commodity Channel Index..

Look over daily and enter on other screen M5 M15 for better entry

one you Enter place 2-3 buy limit within 60-70 pips from each.

Ok, I'll show you on the screen shot, here and yes, that's a live account:

Watch that CCI on the bottom (That's on Daily) you can scroll all you want to the
left and you not going to find CCI line Sit above 100 or below 100 for long
Since time Frame is Daily, yes it could take 1-3 days and then reverse

Easy enough?. U can sleep at night, just wait and collect $
Attached Image (click to enlarge)
Click to Enlarge Name: bands5.jpg Size: 115 KB
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  • #218
  • Oct 2, 2009 10:34am Oct 2, 2009 10:34am
That's how it looks on the 15M screen

See? I grab them all

Instead of running all over the room 2 min behind the fly moves

you just create the NET and wait till fly get caught while you drinking

beer
Attached Image (click to enlarge)
Click to Enlarge Name: bands7.jpg Size: 72 KB
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  • #219
  • Oct 3, 2009 8:35am Oct 3, 2009 8:35am
can't edit title; it should read Shocking Big Bucks!

This sounds shocking but I did a similar thing with FXI, a Nashville, TN trading firm that called out free trades using their computer modeling technique.

Drawdown was where the money was made. They called out the entry and target, no stoploss and you used whatever you wanted to reenter multiple times during drawdown. It was slow trading but my live account grew slowly with little stress. It got hectic as I placed my final entry risking a total of 4% of my account tied up for a week or two but payday was wonderful...big payout. We were taught to close earlier entries as they went into profit holding our best entries till the first entry.

Do you hold all entries to the day cci reaches opposite 100 or do you scale out on the way?

I don't know what color MA you use on the 15m chart but it looks fast like a 3ema shifted to the right 1 candle.

I wish I didn't have to trade this way; prefer instant gratification, and commit full time to trading. But you drive a hard bargain. Bless you for volunteering this. I needed to hear it.

We hate drawdown but you woke me up to the fact it can make alot of money.
  • #220
  • Oct 3, 2009 9:57am Oct 3, 2009 9:57am
Quoting stevewide
can't edit title; it should read Shocking Big Bucks!

Do you hold all entries to the day cci reaches opposite 100 or do you scale out on the way?
There is actually 2 ways to decide when to close all positions. Not

been too greedy. Look on the 1st screen shot on CCI indy there is a

horizontal Lime color line, it's below 100, I just look where on CCI would

be reasonable to close all positions and the other way is: If you have like

6-7 averaged positions open, you can just wait till pair get above your FIRST

one about 10-20 pips, so all of your positions are in profit and lowest (latest)

one with biggest profit of course since lower it goes bigger your lot size is

this way when it turns around you going to be in profit even in the middle

of all your open positions range. And if you only open 1 trade and pair going

back right direction then, sure you can wait for CCI 100 or so, to maximize

profit from 1 open position

Sound reasonable?

And just for info second 15 min Screen shot using MA 17 (my personal finding)

Indy called HMA_Color_nrp (no repaint)

I'll attached in case you want to use it below
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