Powerful 1 Min Scalping System (Fx Prime)

I wouldn´t be too sure if he ever reads your question. His post is almost 1 1/2 year old.

I am not using MT4 so I can´t help you, sorry!

I have asked this before, but could somebody who is folling this thread post a actual 1 min chart with the original settings?

I am using TOS and have to work around for some indicators.

At the same time I can only go back 20 days, so all the posted charts are no help to compare.

i.e. I do not have RSI T3 - is it ok to use just normal or WilderRSI with the correct setting "8"?

I also don´t have BSqueeze CCI - so I take standard CCI 170 and 34.

If I could see some present charts I can easily compare!

Thanks in advance
Tom

http://screencast.com/t/ZGE1MGI1O

Hi Tom hope this helps, first time i'v used jing or I would have put the chart on the forum.

Hi aus1way,

thanks for the chart! I can see the RSI plots the same, good.

Hard to tell from the CCI since your settings don´t match with the suggested ones. You have 89 and 21 but they should read 170 and 34, right?

Do you use FxPrime with those lower CCI settings?

Hi tom, yes I started to use the faster one.
http://screencast.com/t/MDBiOTU3N

Hi again,

thanks for the hassle to change the CCI settings for me ... seems that I got the same readings, that´s good and a first step in the right direction if you can trust the indicators.

aus1way, do you actually trade fxprime? why did you cut back the CCI settings? any noticeable improvements?

I have read many threads over the last years and saw many methods, but fxprime really seems to have an edge and it fits my style since I just can´t stand to place 100 or 200 pip stops ;-)

This was given to me at the time FX Prime went on sale. As can be seen it does not require any decompiling because no account number restriction is coded into the indicator.

For the decompiled version see this post:
http://www.forexfactory.com/showpost.php?p=3372931&postcount=4133

Note: There is no need for the open source code even if you want to make your own modified version indicator or EA. It may mean less work though but we know the indicators used are integrated into MT4 as standard. From what I have seen the standard CCI signals the same as the BB one.

See the attached files in ex4 for indicator and tpl original template which can be seen on the FX Prime website.

additional info:
I also have a video from Canadian Dude on FX Prime from a webinar. I was given it along with the attached files. If any one here asks for it then I can upload it to a file host site and link it here.

Hi Tom, I haven't traded for a while now, this system is very good but like most is great in a trending market and gets tricky in ranging markets and I find 1 min charts a bit addictive I find myself trading ranging markets because how do I know when the trend will begin? so I decided to look at some different styles. There are some very good people on this site that have shared a lot, J16, mbqb11, Jacko, Yasir1, Danuk to mention a few. ( in fact looking at that list there all longer term traders so you can see where i'm leaning at the mo). For me I think I have to look at the larger time frames and move down. Whats the trend, where's the s+r then price action.

Hi,

yes most of the good traders work with longer time frames and do recommend them. Well, I tried serveral times but I am always get impatient and stops far away from my entry always scare me. Do you plan to hold positions overnight as well?

I have one more question regarding fxPrime:

What is that AutoFib indicator? I am sure I don´t have it for my platform but maybe I can find a workaround if I understand what it does!? Where would it get the highs and lows from. Is it a time span or the last H/L from a higher time frame?

I am also wondering about the FxPrime Pivots. From what time zone or times are they calculated?

Hi Tom

I plan to open a position walk away and trail my stops. Trading can be a strange business where I feel guilty if i'm not sat in front of the screen monitoring my trade all day but that's when I start to over trade and fiddle with my position. That's why I have had a little brake for a couple of months to reprogram my thoughts, brake some habbits and have a look at some other styles.
Here's a chart for your fibs, should be easy for you just take the previous days high and low. I think the Pivot points depend on the brokers open and close times. Maybe you should consider using MT4 Tom if this is the system for you.

Good luck with your trades... aus
http://screencast.com/t/ZjRmNDg5Mz

Hi Tom I deleted the pic by accident here's a new link.

http://screencast.com/t/OGE4N2JmNz

Thanks for the screenshot and the explanations. I thought the Fibs would be calculated from the last high and low during the day. It makes much more sense if it calcs the previous day H/L.

Overtrading and the feeling to stick to you seat describes a very common problem ;-) It´s good to take a brake and rethink. Sometimes the fog diasappear and very hard to figure out things from the past are no problem at all!

You are right I really have to think about switching back to MT4. Currently I am testing Oanda. Just good enough for the basic FXPrime indis but nothing more, but the spread is just beautiful if you are scalping and compare a 2.0 pip spread to 0.9 pips. 10 trades a day makes for an average month 200 pips which don´t have to be earned ;-)

Good luck!

Hey fxscalp - if you have the vid for Candude that would be great to check out

Thanks

this is way too complex, and trading 3am is not for the average people. There's potential. Thanks for sharing. I'm lazy so I'll stick to something for lazy people.

You have no idea how much I love to hear those words!

Canadian Dude

Many thanks for your system ... Have you tried the system with 2 or 3 min chart. I am working on it i will up date if i get any good result.

What are the updated files that I should I be downloading for this system?
Cheers

Seems like a very old post and it seems like people are STILL making money with it so I've decided to give it a try.
Alas, there is a lot of info overload and people saying Saturday to which others reply Sunday.
The CCI 170, CCI 34, RSI 8 seem to be the main ingredients but what are those other indicators in the list used for? i.e. the Spudfibo, EJ candletime or Autopivot?
When I applied the template only the RSI showed up and the heiken-ashi candles. I had to manually add the WoodyCCI. The other ones seem to have no effect.

Could someone make a VIDEO (not a still) of what they actually SEE on the hard Right Edge of their screen when they decided to jump into a trade and when to exit? It seems like everybody on all forums and for all systems post some AFTER_THE_FACT historical chart where it is indeed easy to see that had you entered a trade you'd have made XYZ amount of PIPS but that is really useless. I want to see what moves you to enter the trade. There are screen video capture softwares out there like Camtasia but why is it that nobody ever shows how they trade live? Live traders seem to be an elusive species. Do they even exist?

Second day using this system. 4 losing trades. From now will screen capture my trades based on what I see WHILE I take the trade, not AFTER a few candles like most people here do.
Very often the signal is 'undone' almost immediately after placing the trade since RSI & CCI 34 are lagging indicators so my intuition already tells me that this system is being over-rated as I strongly believe short time frames are RANDOM NOISE.

PS: Ignore the question about template and indicators in post above as I have it figured out already.