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Attachments: Trendman scalping system
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Trendman scalping system

  • #301
  • Oct 13, 2009 10:28am Oct 13, 2009 10:28am
Quoting trendman
Please,this is a scalping system, well I call it scalping system, 5 min chart is there for guidance,you need to make your trading decision from 1 min chart but getting the trend direction from 5 min , do not forget to open OBV indicator.
Yup! only trade from 1M chart.

I can't seemed to be able to access my OBV.

Thanks a million!
Cap
  • #302
  • Oct 13, 2009 10:53am Oct 13, 2009 10:53am
Would be great if you could explain how to use the OBV indicator the right way. I drew a trendline on it earlier and there was a breakupward as well as a decent upward, just happened to miss it while i waited for the news to finish, was little late lol.

Do you think it might be useful if you kept any rules/changes updated on post 1? It might save people asking questions that might have already been answered. I was thinking if everyone was to meet in a live room for a week and everybody took the same trades together, it might help alot to get the hang of this method and learn some price action at the same time. Like on skype or something?

Thanks for your time man.
  • #303
  • Oct 13, 2009 12:19pm Oct 13, 2009 12:19pm
Quoting WilteredFire
Would be great if you could explain how to use the OBV indicator the right way. I drew a trendline on it earlier and there was a breakupward as well as a decent upward, just happened to miss it while i waited for the news to finish, was little late lol.

Do you think it might be useful if you kept any rules/changes updated on post 1? It might save people asking questions that might have already been answered. I was thinking if everyone was to meet in a live room for a week and everybody took the same trades together, it might help alot to get the...
OBV is again important how the current trend is progressing, if there is an up or down move ,OBV must follow or act along with the price,also you need to follow for new highs or lows on OBV,OBV can give early signals about trend change.
I used to trade stocks so it's a very useful tool for stocks as well as Forex
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  • #304
  • Oct 13, 2009 12:33pm Oct 13, 2009 12:33pm
Trendman,

I'm loving the system. I need to make a few chart posts. Those pullbacks to the 30 ma's are beautiful entries.

I'm curious.. Have you been thinking of any other exit strategy scenarios other than pivots, fibs, previous highs or lows?? Perhaps incorporating OBV for exits?? Thv trix has an exit built in.. but I'm not confident in it.

That seems to be the next thing for me finding a good exit strategy for this system?

Any ideas?

Thanks again.. Enjoying scalping the market with this.

revrobwimb
  • #305
  • Oct 13, 2009 12:42pm Oct 13, 2009 12:42pm
Quoting revrobwimb
Trendman,

I'm loving the system. I need to make a few chart posts. Those pullbacks to the 30 ma's are beautiful entries.

I'm curious.. Have you been thinking of any other exit strategy scenarios other than pivots, fibs, previous highs or lows?? Perhaps incorporating OBV for exits?? Thv trix has an exit built in.. but I'm not confident in it.

That seems to be the next thing for me finding a good exit strategy for this system?

Any ideas?

Thanks again.. Enjoying scalping the market with this.

revrobwimb
I got the say I don't have any exit strategy,10pips minimum than I look for exit points.Because believe me the more you stay in the trend ,maaan you'll see your pips are melting,haven't you expreinced that before?
So ,I go in and out ..)))
Don't over trade !!!
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  • #306
  • Oct 13, 2009 12:46pm Oct 13, 2009 12:46pm
OBV is just going crazy,good
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  • #307
  • Oct 13, 2009 1:03pm Oct 13, 2009 1:03pm
Quoting trendman
I got the say I don't have any exit strategy,10pips minimum than I look for exit points.Because believe me the more you stay in the trend ,maaan you'll see your pips are melting,haven't you expreinced that before?
So ,I go in and out ..)))
Don't over trade !!!
Yes I have experience that before, and no I don't overtrade.

revrobwimb
  • #308
  • Oct 13, 2009 1:04pm Oct 13, 2009 1:04pm
wov ,what a change,I hope none of you were in it

That is what I'm talking about ,scalping is the best!!!
Anyone agree
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  • #309
  • Oct 13, 2009 1:20pm Oct 13, 2009 1:20pm
Here we go, a good example why this upward trend made me quite nervous and proved me that I'm right.
Look at the chart 5 min, 20 ema cut 1st 62 ema so..
Not a strong trade, this is something you guys always to watch
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled.jpg Size: 169 KB
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  • #310
  • Oct 13, 2009 1:40pm Oct 13, 2009 1:40pm
Quoting trendman
I got the say I don't have any exit strategy,10pips minimum than I look for exit points.Because believe me the more you stay in the trend ,maaan you'll see your pips are melting,haven't you expreinced that before?
So ,I go in and out ..)))
Don't over trade !!!
Hi

That is so true In deep on several trades since last night....at one point I was up over 60 pips and thought about closing them....but I thought to myself ..NO.. you always do that, rather than cut my winnings short and keep hold of my losses too long I thought no lets try it the other way round....and right as we speak im -187 pips and counting. Im staying in as Im not at my stops yet on the Daily as these are retraces against the trend.....I Hope !

Nothing to do with scalping but just thought your comment was relevant to how im feeling right now
  • #311
  • Oct 13, 2009 6:10pm Oct 13, 2009 6:10pm
Quoting ab1
Hi

That is so true In deep on several trades since last night....at one point I was up over 60 pips and thought about closing them....but I thought to myself ..NO.. you always do that, rather than cut my winnings short and keep hold of my losses too long I thought no lets try it the other way round....and right as we speak im -187 pips and counting. Im staying in as Im not at my stops yet on the Daily as these are retraces against the trend.....I Hope !

Nothing to do with scalping but just thought your comment was relevant to how...
I would NEVER hold a losing trade overnight hoping to turn it into a positive trade the following day...
  • #312
  • Edited 8:31pm Oct 13, 2009 7:29pm | Edited 8:31pm
Hi Trendman do you think it could be possible to post your entry trade on chart and maybe to have 1M 5M and OVB side by side on the same picture ? It could very appreciated because last night i don t saw any set up while you launched 4 trades ! Thanks

Luk
  • #313
  • Oct 14, 2009 12:39am Oct 14, 2009 12:39am
If you can show those screen shots, if you haven't already by the time I post this anyway, lol... seeing those screens would be helpful anyway.

Brian

Quoting PipsRider
Hi Trendman do you think it could be possible to post your entry trade on chart and maybe to have 1M 5M and OVB side by side on the same picture ? It could very appreciated because last night i don t saw any set up while you launched 4 trades ! Thanks

Luk
  • #314
  • Oct 14, 2009 1:55am Oct 14, 2009 1:55am
Where can i get the OBV indi? I don't see it in attachments.
Thanks.
  • #315
  • Oct 14, 2009 1:56am Oct 14, 2009 1:56am
Quoting Myth
Where can i get the OBV indi? I don't see it in attachments.
Thanks.
It's a standart indicator comes in MT4 , have a look at your indicator section
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  • #316
  • Oct 14, 2009 2:22am Oct 14, 2009 2:22am
Not taking any trade position until the news released
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  • #317
  • Oct 14, 2009 3:05am Oct 14, 2009 3:05am
Buckle up guys, or better down, lol.

Am seeing this EU to drop soon and it will be hard.
Watch your indies.
  • #318
  • Oct 14, 2009 3:11am Oct 14, 2009 3:11am
Quoting Freddyfx
Buckle up guys, or better down, lol.

Am seeing this EU to drop soon and it will be hard.
Watch your indies.
Yes you're right 1.4900 is though point to break
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  • #319
  • Oct 14, 2009 3:37am Oct 14, 2009 3:37am
Hi,

Just took this CT trade ... was it ok ?

thanks for sharing your system
Attached Image (click to enlarge)
Click to Enlarge Name: pic15.gif Size: 54 KB
consistency wins
  • #320
  • Oct 14, 2009 3:45am Oct 14, 2009 3:45am
yes it's okay,but have you taken your profit or sticking with it

the reason I'm asking I haven't seen a big move on obv and also 5 min 20 ema hasn't cut 57 yet, so be careful
by the way I've just realised you're using normal macd, use the macd I've given
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