Simple scalping system, all red or all green | Forex Factory

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Simple scalping system, all red or all green

  • #1
  • First Post: Edited 5:09am Jan 11, 2010 3:05am | Edited 5:09am
Look at the last candle of M5,M15,M30 and H1
If all green ,buy.
If all red ,sell.

The system works on many trades and good money managment.
Statistically, if you look at any chart ,there are more consequential candles than candles of opposite colors.
Try it demo.
  • #2
  • Jan 11, 2010 3:19am Jan 11, 2010 3:19am
Quoting Brb-Fraudin
good money managment.
What are TP/SL or any rules for exit?
  • #3
  • Jan 11, 2010 3:23am Jan 11, 2010 3:23am
Quoting Dezil
What are TP/SL or any rules for exit?
Since its a scalping system ,you should watch the movements and decide.

I mostly close manually at +15+20 pips,sometimes less. S/L should be -15 pips

Right now I have 2 trades with +10 pips each. I may close them and do it again on another pair.
  • #4
  • Jan 11, 2010 3:30am Jan 11, 2010 3:30am
Last closed or active candle?
If active at the beginning of an Hour for 5 min they will always be the same colour...
  • #5
  • Jan 11, 2010 3:30am Jan 11, 2010 3:30am
when do you buy? when 5min candle close green and all other still green, or ....?




Quoting Brb-Fraudin
Look at the last candle of M5,M15,M30 and H1
If all green ,buy.
If all red ,sell.

The system works on many trades and good money managment.
Statistically, if you look at any chart ,there are more consequential candles than candles of opposite colors.
Try it demo.
  • #6
  • Jan 11, 2010 3:33am Jan 11, 2010 3:33am
The last active candle for all.
  • #7
  • Jan 11, 2010 6:04am Jan 11, 2010 6:04am
interesting and original !
  • #8
  • Jan 11, 2010 6:24am Jan 11, 2010 6:24am
Very interesting approach ! Are you really making 10K a day or is that your goal ?
  • #9
  • Jan 11, 2010 6:33am Jan 11, 2010 6:33am
Hi
I used this kind of trading for some time. I used 1hr, 15 and 5 min. You can expand this to 4hr and daily. When all are lining up you can re-think your profit targets. Approx 60% of time (GU) will follow daily direction.
  • #10
  • Jan 11, 2010 6:48am Jan 11, 2010 6:48am
???? what is these all green and all red??? how come i did not see anything? thanks
  • #11
  • Jan 11, 2010 7:05am Jan 11, 2010 7:05am
Hi , so which is easier , switching time frames on currency window or opening up each window for each time frame .. seems like a lot of flipping charts to change currency pair or just flipping time frames .... do you miss out on some trades because of this ...? thanks ...buffalopip....
  • #12
  • Jan 11, 2010 7:15am Jan 11, 2010 7:15am
hi can anyone explain? i dun get what it means?
  • #13
  • Jan 11, 2010 7:17am Jan 11, 2010 7:17am
Quoting Brb-Fraudin
Look at the last candle of M5,M15,M30 and H1
If all green ,buy.
If all red ,sell.

The system works on many trades and good money managment.
Statistically, if you look at any chart ,there are more consequential candles than candles of opposite colors.
Try it demo.
Assuming you only trade on the closed candles, you only have 24 trade possibilities during the day.
  • #14
  • Jan 11, 2010 7:21am Jan 11, 2010 7:21am
Quoting Ronald Raygun
Assuming you only trade on the closed candles, you only have 24 trade possibilities during the day.
it has to be the closed candle otherwise at the top of each hour all the time frames would always line up.
  • #15
  • Jan 11, 2010 7:24am Jan 11, 2010 7:24am
Quoting Brb-Fraudin
The last active candle for all.

Does he mean closed or unclosed?? I don't even know anymore
  • #16
  • Jan 11, 2010 7:24am Jan 11, 2010 7:24am
Quoting KPForex
hi can anyone explain? i dun get what it means?
ok, i know what it means... but is it accurate for all pairs?
  • #17
  • Jan 11, 2010 7:31am Jan 11, 2010 7:31am
meaning:

say buying mode,

after H1 candle close (green)

look for M30, M15 and M5.

if all green then BUY....
  • #18
  • Jan 11, 2010 7:39am Jan 11, 2010 7:39am
Quoting magnumfreak
it has to be the closed candle otherwise at the top of each hour all the time frames would always line up.
RUBBISH. You can have a green(up) closed hourly candle, with the last 5min candle of that hour being red(down).
  • #19
  • Jan 11, 2010 7:40am Jan 11, 2010 7:40am
From what i interpret correctly, yes.... But i think we will need an alert for that... if not, it will takes time if we go TF by TF... Do you all agree?

Quoting zai7777
meaning:

say buying mode,

after H1 candle close (green)

look for M30, M15 and M5.

if all green then BUY....
  • #20
  • Jan 11, 2010 7:41am Jan 11, 2010 7:41am
Quoting TheGreatMilenko
RUBBISH. You can have a green(up) closed hourly candle, with the last 5min candle of that hour being red(down).
You need to learn how to read. I said at the top of each hour. This was assuming he is using current active candle.
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