1min scalping using mtf ALF by bbolss

hi all
sory 4 my english at 1st point

i just wanna share with you the system that i started to use last week
its pretty god in my opinion it still requaire some work with filtering bad signals
but the loss is always small ant the win could be big! so whats more do we need?

but first I wanna say BIG THANX to Lou G for coding the ALF


edit 25.06.2010 update to v2 =]

entry rules : generaly its up to you guys witch entry you will take!
important is to price cross both ALF ( normal and mtf) and to alf mtf not strong rise when we short and not strong fall when we long
sometimes it can but slowly

rest is up to you !
we have 2 osma one set to show osma on 5min ale one normal
and we have a macd one mtf set to 5min and one normal 1min

generaly i prefer entrys in directions of both like here: everything down so we short
http://img717.imageshack.us/img717/9679/przyklad11.gif

but as we known the macd is based on movin avagres witch are LAGGY
so sometimes we can enter in direction only osma 5min and 1min
macd should be backing slowly to 0 like here
http://img340.imageshack.us/img340/5098/przyklad3.gif
for reentry i prefer signal from 1min osma and everything else in place its up to you if you wait for break last hihg / low or not.. if to last high/low is at least 5pips maybi its good to take a risk and take 5pips if it will be just 2t or 2b?
like here:
http://img10.imageshack.us/img10/2337/re1k.gif http://img408.imageshack.us/img408/9323/2reenry.gif

there are 2 ma also 50 and 200 you can use 200 ma as long only/ short only filter but again MA ar lagy so if you feel the trade you dont have to !
remembour trading is never 100% mechanical! tou must known the basics of PA and feel the trade!
ma 50 works as s/r level

exits: totaly random! based on PA usualy
i like exit half at +10 and rest on 5min alf touch (or cross ma 50)(if i took entry based on MACD and OSMA toogether)
if i enter on just osma i usualy close all at +10 or where i see that pa will reverse
or where it crossed alf again again never 100% mechanical

and we have it candles also on chart it colors the charts it is just to see a trend even the small one without draving any lines etc you can wait for green/red candle if you like but dont have to...

watch out for divs on exit sometimes and be caerfoul during news - there is no system witch can predict news =]

temp is for eu set if you wanna other currency posible that you will have to change in osma and macd the max and min value.. but it is important to max and min were the same- to see the 0 level on mtf and normal in one place!

and again if you like my system please rate it
i dont known why we have 4 stars only..

edit2 many pepoul ask about chat room etc
i dont known if it is such a good idea but lets try it out...
go there
http://spikeria.pl/room/bbolss/
enter any nick
the pass is "1min" without " " off course=]


read also this
http://www.forexfactory.com/showpost.php?p=3802688
and this
http://www.forexfactory.com/showpost.php?p=3802708
very useful stuff !

edit 17.07.2010
version v3 beta in this post
http://www.forexfactory.com/showpost...&postcount=552

so what do you Guys think?
i would love to see comments/ ideas lets make the best scalping strategy ever !

updatet tpl 1st post
changed settings in alf mtf

quick +10 now
se how mtf alf filtered first price cross of alf because 5min was still rising
second entry ok alf flat and start faling down

another +10 from just now

what do you mean when you wrote: "entry long when we are on the right side of the 5min alf"?
I understood your tecnique in this way:

Long:
1) Price over ALF m5
2) Price crossing from down to up ALF m1

Short:
1) Price down ALF m5
2) Price crossing from up to down ALF m1

I'll post the entries..are they correct?

yes look ok
but it is sometimes important to 5min alf was not still rising when we sell or still falling when we buy

+8

edit
could be more if i wait;p

+12

acording to system a should be enter about 6 bars ealier but i wasnt in front of the screen at the moment so i have entered ad break of previous high

can somone move it back now to trading systems?

im out with +10 again

Hi,

Looks nice! Thanks for sharing!

I'm going to try out your system and hope you don't mind me asking a few questions.
On the chart attached on your first post you highlighted with green circles some points on the stochastics indicator. Can you please explain why?

What's your stop loss? Previous High/Low?

Thanks again!

off course
sl usualy 8-10 pips or prev high/low if its not to faar away max 15 let say

yes the circles could be the reentry points if we missed the first entry and there is no cross with the alf (for now) because the price is rising fast
the stoch should cross and at least touched 50% level

im still testing this think with stoch so lets forget about it for now

Thanks for your answer!

Do you only trade the Euro?
What's your win to loss ratio? Do you have any statiscs on your system?

Cheers

yes only eu for scalps - the lower spread is best if we targeting about 10pips

but it work on all i checked

i have no statistics - i startet trading like this last week but i was stil changing something to make it simple and best
and tooday i started it live with final (i think) version

so for tooday 14 trades 3loss 11wins
in final cound over +100pips

my last trade for +15
it was a litle risky because alf 5min wasnt 100% flat but almoust
i decided to risk - sl was only 7pips

i think im done foor today
ps why still nobody have moved this thread where it belongs?
best regards

Well done, my friend, great results!

Thanks for the patience that you showed towards my questions and ignorance!

Have a nice rest and see you tomorrow!

Very good Trading System.
I'm trying to use it with the simulator but I have problems with the ALF-MTF it goes Crazy. Anyway I will try it tomorrow...

i dont known who wrote the mtf version i found it somwhere in alf/tvi thread but yes it may have some problems sometimes when drawing, changing the tf for a while usualy helps
i didnt try it in any symulator so canot help

I think it´s a great system.
I have made 3 profit trades in a row.. within the last 30 minutes.

Thank´s for sharing this strategy with us

im glad that you like this
join posting your charts to help others
br

ok next time i make a screenshot...

cu

another 2 good entrys
for about 40 pips
but im done for today i was wathing movie so didnt take it
shame

bbolss, can you post the graphic with your bad trades? This can help to understand how to filter...
I use Fibonacci, when retracement ends and the signal is genereted you can enter the trade easier i safer..