EUR/USD Scalp 1 min

A good cup has already formed & now the handle ( ranges between 1.4368-31/26 ) for further bull continuation.so better I close longs here & do some short-long play.
I see in higher tf this price action looks like possible inverted h&s
fontu

Looking price over 1.4360( at 65) to close all longs here & possibly start short again.Placing some pending orders between 1,4365-35 & leaving , see you all in the evening.Hope get some feedback from traders about how it works.

fontu

Nice play & perfect movements within the range 1.4362-25 & 5 pending orders activated & tp by this time , last one buy order having no tp continues ( sl +be) If break up 1.4369 up.
Not know anyother trading m1 chart these days & any feedback.
fontu

I like this Hoss system for entry, I went back few moths and did some manual analysis which looked good enough that I'd like to find someone who knows how write code for MT4. Basically I need someone to take the template with the setting presented here plus some variations and write a code that would extract information/statistics into an Excel worksheet for further analysis that would allow us to use optimal settings. Minimize risk by generating stronger entry signals.

Ideally we can make this an open project and everyone can contribute/share but if I have to, I'll find some who will do it for a fee.

Please let me know if anyone is interested in working with me on this.

And yes I know that past performance does not guarantee future results.

Just go through posts & note important ones specially from hoss & hope someone will summarise the actual trading system & make a good code for template showing auto trading signals if possible .
thanks ,fontu
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My RSI is set to (8) ( close ) with 80 and 20. Yes, you will lose your butt with this system if you get caught in this situation. The RSI can stay buried, but when you are looking for 5 pips on a 1 minute against support/resistance, you can knock these out all day. Again, you must have some sort of mental stop loss if you re-enter as described above and the trade does not come back for you. I've had to get out maybe twice since January. But, I make it back quickly.
I use 80 and 20 so that my win rate is higher. i get plenty of action with the 80/20. i concentrate heavily on my first entry. i hate drawdown, so if i can enhance my filter by staying at 80/20 i will probably stay there. i even thought about 85/15.
the best ones are where the first one may hit 90 , the next around 85, and the third around 75-80, for instance, on a short, while price has continued to move up. this is classic divergence. i don't always wait for these exact set ups, but when they are there i take them.

One more thing. It looks like you fell behind on a breakout. I like to see set ups that have at least 2-3 pushes/waves in a particular direction. That tells me we are little closer to exhaustion when we enter. So, keep an eye on bollys when they are close together and do not trade the first wave outside of the bollys. Be patient and wait for that second or third push. I guess these are the types of things I was talking about when I said I have lots of screen time and I forget to mention.
Yes pivot lines and murrey math lines show possible areas of support and resistance. You can find them all over the net for MT4. I look for extreme OS/OB when these levels are hit and look for 5 pip countertrend trades.
wait until this situation happens, make sure it is on resistance then trade it for 5 pips. if it goes against me i wait for oversold/divergence again then re-enter. i do these all day long. obviously you must set your own stop loss according to your money management if the trade goes to far against you. demo trade it until you get the hang of it. it is second nature to me now.

do pull the trigger on the OB/OS, but only in certain situations - new high - new low with nice price movement. As far as divergence goes, yes, sometimes it does not work. But, if you wait for price to make mew highs/lows it works beautifully. Price is either breaking out, consolidating, or retracing. Don't ever take trades during consolidation - it is waiting to breakout. I'm not a breakout trader. I wait for consolidation, then a breakout, and I wait to trade the retracement. Get in the habit of identifying which phase you are in, and you will do well. To trade safely, just take retracements after 3 pushes with divergence against support/resistance. It is a great way to trade. As you get better, you can make other trades when you see them.


there are times when the price will blow through these levels. so, to avoid this here is what i do. you'll notice sometimes that price will flutter around within a tight range or is channeling so to speak. i never enter on the first ob/os after price has been resting. price is more likely to move violently after this. i wait for the second or third push into ob/os, or look for divergence. with the eur/usd, for instance, price may have moved 50-100 pips over this move. that is what i am looking for. not sure what the daily range is for eur right now but what i know is that within a certain standard deviation, once price has moved this much and goes into ob/os in later stages, my chances for a successful trade are improved tremendously. so even if i have to average in, i don't normally get caught in the situation you are describing because i have allowed most of it to pass and price momentum is not strong at this point. it takes a little patience to watch that price move without hopping in, but i tell you, these trades i am describing are beautiful when they happen. on the one minute chart they happen all day long, especially if you are watching four pairs or so. let me know if that makes sense.

I don't recommend trading more than 2 pairs at a time with this method..

use the autopivot indicator and the murrey math indicator. I see strong levels of support and resistance when these levels overlap each other. You'll get great retracements at these levels when price hits them with speed and force. Sometimes when price moves slow, it will just trickle over these levels and keep on moving, though, so be careful during slow sessions. You'll see it over time. Just keep practicing it. You will "see" trades that are complete no-brainers after a while. You could make a fortune just waiting on these ones. My favorite is divergence after a three wave push in one direction while hitting these pivot levels. These are gold.

template posted by Richrob #60


I don't have a hard stop for trading this way. I do have an emergency stop for power outages, etc. I really concentrate on entry. I find that when I do that I am not nervous about the SL. Even if I have to average in a little i am always confident about the reversal. I am always waiting for that exhaustion after a good push. Price never moves in straight lines, but in waves. I take advantage of these waves after a nice movement. I will try and post some more as I take them. It's a bank holiday today so I am not really going to push any trades today.


don't use the bollinger bands too much. I use them after a hard push. You will see that price does not like to be outside of the bands. If it does, and is up against a pivot/murrrey, it will usually retrace pretty quickly. I pick 5 pips up on these alot. I try and enter when price/candle is outside of a band on an aggresive push where there is support/resistance. I do not wait for a reversal candle in these instances. If you use indicators in an unconventional way, you will be surprised what you can do. Think contrarian. Think about what the guy that is losing is doing, and do the opposite.

don't wait for the close of the candle in most instances. You can't trade every 80/20. Wait for exhaustion if you can. If you can't spot it, try using trendlines to get in on some counter moves.


i try and shoot for 10-15 trades per day and try and make 2-5% per day.

Price likes to rest near the 200 ema, but when price is on the moves it likes to bounce off of it back in the direction of momentum. I like to see the 200 ema give confluence to a pivot or murrey when price is on the move. Don't let the 200 ema confuse you, however. It is not necessary for trading this way. It just gives me an idea where price is at for the most part.

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Strategy & Indicator Confirmation Hi Hoss,

I read your thread with great interest and currently tried your strategy on demo & live both with reasonable success. I know that with more screen time and practice the results would be far better.

I am using following indi on charts as suggested by you, could you please confirm, if I am using right indi.

Chart Time - 1 Minute

Bollinger Band - Period 20, Shift 0, Deviation 2, Apply to Close

Moving Average - 5 EMA & 200 EMA (Close)

Auto Pivot - Use Sunday Data False, Weekly SR Levels False, Monthly SR Levels False. Everything else is set to True (This Indi I downloaded from your thread).

Murray Math Lines - MM Period 30 Minutes

RSI - 8 Period (Close) 80 High & 20 Low

I am also attaching screenshot of chart with above settings. I did a trade on last candle and got 4 pips profit.
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Yes with screen time you will know when you are making the proper entries. It's hard in a thread to articulate everything involved in price action at once, but I think you understand it. Demo it for a while if you have to. Keep in mind these items when trading it. They all don't need to match at once, but the more the merrier...
- price outside of bands
- price has made at least 2 to 3 waves in one direction
- price is hitting a strong pivot/murrey
- price is a nice distance away from 200 ema
- price is making a new high/low - not consolidating
- try not to make the first trade on the first push outside of consolidation
- RSI(8) is way overbought/sold - 80 to 85+ or 20 to 15-

Just for the sake on conversation, look at that the last red candle on your chart. Price is outside the bands - this is good. A great entry would be right at the bottom of that candle outside the band. Also, RSI is below 20 - this is good. We don't need to wait for that candle to necessarily close. However, you can see that price just kinda made its first push away from the 200, and is not making a new high/low, and price is already past pivot/murrey. So this may be a breakout. We want to avoid those. Breakouts force you to average in and we want avoid that as much as possible. So, even though you may be able to grab a few pips on that trade, they can be dangerous. Time that first entry like your life depended on it, and you will do well.
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I have a mental stop loss of around 10% in my head that I am willing to lose. It sounds like a lot, but again, it keeps me focused on that initial entry. I rarely get close to it. To answer your question about getting out after the second position - I get out at breakeven, or if I like my chances, I will let the trade run until I can get that 5 pips or more. Getting in after price has made a run that is greater than a pair's ADR is a safe way to start. You won't get as many signals, but your chances for reversal are quite high..

RSI hit OB/OS several times and keep going back closer to MA200).

this is actually a good spot for entry. You are making new lower lows on the 1 min, you are close to the edge of the bands, you are hitting up on some support, and it looks like you are showing some divergence on your RSI indicator
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by steve
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
8. --------------

Fontu

I've done the reading already and got all the details out, the indicators out as well. I put it all together and trying to see how good/reliable it is and how it can be made better. For example one of the things I noticed on GBPUSD M30 (currently under study) is that you're much better off waiting for the next or second candle to form after the RSI gives you the signal. Someof the things I'd like to pull from the data is: time of day that most profitable trades happened (to save time staring on the screen all day) maximum drawdown (for optimal Lot sizing), what is the average profit/loss in pips and how many candles you need generally for optimal TP (my target is generally 15 but maybe I can take 50 with these settings). Also I notice that a lot of good trades are missed with the RSI at 80/20. Maybe something like 73/22 would be better even if there is few more negative trades. There is a lot more then this its just a sample of what I want to find out.

Thanks for the summary I'm going to re-read it right now.

You have good interest in this trading system , do test repeatedly till get the best result. Though I am not using any indicators for scalping or seeing sign of next price action just to help I put the indicators on & see some change in parameters should fit beter.

Like ma 5, I set shift 2,simple & high
rsi ( i never use this one ) settings period 6 , levels 90/10 , ( rsi with divergence should be good option though ) .

using trend momentum for visual impression .
see pic.
fontu

with the above pic and rulles applied I see entries & exits works nicely in m1.
price outside of bands>ok
- price has made at least 2 to 3 waves in one direction> ok, should extend upto 5.
- price is hitting a strong pivot/murrey>ok
- price is a nice distance away from 200 ema> ok
- price is making a new high/low - not consolidating>ok but can also workable within it.
- try not to make the first trade on the first push outside of consolidation> ok , can take further confirmation from ma5 ,rsi
- RSI(8) is way overbought/sold - 80 to 85+ or 20 to 15-> rsi 6,90/10


anyway sl always be there , bring at be when price proceed positive & enjoy free trades till exit .

Enjoy with nice bull using first time hoss system , entries at 1.4292/75 & just close at 1.4328 . seeing how price reacts at 28 level. there should be short entry but not taken as price still bound bands .no 5 pips scalping . waiting .
fontu

Waiting to see how it acts at 1.4351/58 area , already ouside band , rsi at 82, away from 200ma , waiting confirmation ma5 for a short.
fontu

Possible buy soon at 1.4420/12 perhaps .
fontu

I see up here

http://freezpic.com/pics/978c79be3ab...31785ea6a2.jpg

Though not scalping today yet add 1 more short at 1.4404 for 1.4386 again whether break this time or not .
fontu

I did the same trade at 1.4402

well , I do close scalping position & though few pips up singal there yet I did not because i was waiting 1.4385/80 brealk for big down . continuing other shorts from above.
fontu

I'm still in it SL @ +1 and waiting for a ride down

At last it done & hope great down , to the next bottom , may be next day.
fontu

2010 is the year when my greed is going to be fully in check. As a practice toward that and my other 2010 goals I'm out @ +42 pips (+6.62%) and i know it will most likely keep dropping, but who cares.

Well done ,congratulation.wish you best of your luck.I am done for the day too.

I will keep all shorts towards 1.41/00. and will do some scalping too at times.
I see hoss system is good and if can done fast can take most pips.see h1 chart , it crossed most sr.
fontu

Price stall & bounce but not took any long ( not ffast scalper ) and looking for shorts arround 1.4328/30 even 43 sr levels .
fontu