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Attachments: EUR/USD Scalp 1 min
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EUR/USD Scalp 1 min

  • #601
  • Jun 30, 2010 11:09am Jun 30, 2010 11:09am
Quoting speculant
hi guys....is there a clear rules of this system writen somewhere...did read the whole thread 4 times and still cant put it together...can someone put it in a file...like rules,indikators,signals and all the small invisible details who are known only through testing...THANK YOU in advance
This strategy or system is based on retracement after 2-3 waves push one way. The most important thing is wait for perfect setup, like Hoss said, be more picky, dont rush. 2-5 small trades, per day or per session, personally I prefer London, coz of time and other stuffs. These 2-5 trades per 4-5 pips can make your living. I would attach all indicators, but I am on Mac without WIN, so look again and u will find it 100%. So, to summarize the main rules:

1. wait, wait, wait....2-3 pushes one way
2. look for some solid S/R level or MM line, 7/8, 8/8,1/8...
3. RSI at least above 78-80 level, or lower than 20-22, outside BB
4. i dont use much EMA 200, but everybody has own rules
5. dont trade 15M before and after news
6. dont trade during low volatile sessions
7. look on diverengence on RSI
8. low spread broker, MBtrading, Oanda...
  • #602
  • Jun 30, 2010 3:30pm Jun 30, 2010 3:30pm
Well said, Bergax. That pretty much sums it up.

Quoting bergax
This strategy or system is based on retracement after 2-3 waves push one way. The most important thing is wait for perfect setup, like Hoss said, be more picky, dont rush. 2-5 small trades, per day or per session, personally I prefer London, coz of time and other stuffs. These 2-5 trades per 4-5 pips can make your living. I would attach all indicators, but I am on Mac without WIN, so look again and u will find it 100%. So, to summarize the main rules:

1. wait, wait, wait....2-3 pushes one way
2. look for some solid S/R level or MM line, 7/8, 8/8,1/8...
3....
Life is too short to have anything but delusional notions about yourself.
  • #603
  • Jun 30, 2010 4:26pm Jun 30, 2010 4:26pm
hi, are you using the scalp system with such large TP ranges?

thanks

Quoting trigg
4 position are running in the winning zone.

Profit: + 57 pips / + 84 pips / +124 pips / +129 pips

till now:

Profit Total: +394 pips
  • #604
  • Jul 1, 2010 1:48am Jul 1, 2010 1:48am
trigg would need to confirm this, but in one of his prior posts he mentions 30 min charts. I have been following this thread for quite sometime and have tried this method with varied success. The target is 5 pips - and I believe Hoss has always been looking for around 5 pips since he began the thread. If trigg is letting his trades run he either isn't following this system to the letter or he is trading larger timeframes or something.......
  • #605
  • Edited 5:00am Jul 1, 2010 2:35am | Edited 5:00am
thanks jeff

so what is the real setup/indicators to be used for this please?

thanks again
ad


Quoting jefffxtrader
trigg would need to confirm this, but in one of his prior posts he mentions 30 min charts. I have been following this thread for quite sometime and have tried this method with varied success. The target is 5 pips - and I believe Hoss has always been looking for around 5 pips since he began the thread. If trigg is letting his trades run he either isn't following this system to the letter or he is trading larger timeframes or something.......
  • #606
  • Jul 1, 2010 11:44am Jul 1, 2010 11:44am
Hey there,

I finally passed my last difficult exam, so I think next week I will create some public chat on skype regarding this kind of scalping. Everybody is welcome, I will put here details during weekend.

attached screen from Monday

today was lovely trading day, if u fallow rules

Attached Image (click to enlarge)
Click to Enlarge Name: Monday.JPG Size: 679 KB
  • #607
  • Jul 1, 2010 2:49pm Jul 1, 2010 2:49pm
Enter Short with 5 positions at 1.2535
  • #608
  • Jul 1, 2010 2:55pm Jul 1, 2010 2:55pm
Quoting adrianebn
hi, are you using the scalp system with such large TP ranges?

thanks

If I don't use it, i have to set a tight stopp loss with 1 min scalping and then you could loose over 80% of your trades moreover in volatile market circumstances. The market entries are definitely at M1 scalping, but all exits aren't.

See #607. ENTER SHORT AT 1.2535. NORMALLY I HAVE TO GO OUT AT 1.2522 JUST NOW IF I WOULD FOCUS ALL MY EXITS AT SCLPING M1 TRADING SYSTEM, BECAUSE 13 PIPS ARE QUITE ENOUGH PROFIT FOR THE M1 SCALPING.
  • #609
  • Jul 1, 2010 3:41pm Jul 1, 2010 3:41pm
Speaking about stops, if you're reading this, Hoss, in the beginning of this thread you mentioned that you didn't use stops. You've become more picky in the mean time, you said you don't like to average down (anymore), so is using no stops something that you've also changed in the mean time, or do you still only use a mental uncle point, so to speak? If you use stops nowadays, how big are they, if you don't mind me asking?

Thanks.
It's not about how much you make, it's about how much you don't lose.
  • #610
  • Jul 1, 2010 4:55pm Jul 1, 2010 4:55pm
makes sense, so you enter with the setup but the exit can be market following

Quoting trigg
If I don't use it, i have to set a tight stopp loss with 1 min scalping and then you could loose over 80% of your trades moreover in volatile market circumstances. The market entries are definitely at M1 scalping, but all exits aren't.

See #607. ENTER SHORT AT 1.2535. NORMALLY I HAVE TO GO OUT AT 1.2522 JUST NOW IF I WOULD FOCUS ALL MY EXITS AT SCLPING M1 TRADING SYSTEM, BECAUSE 13 PIPS ARE QUITE ENOUGH PROFIT FOR THE M1 SCALPING.
  • #611
  • Jul 1, 2010 4:57pm Jul 1, 2010 4:57pm
could you please advice the rules acuse i cannot get to them, and possibly the EA used

thanks, would help me understand the system setup

Quoting bergax
Hey there,

I finally passed my last difficult exam, so I think next week I will create some public chat on skype regarding this kind of scalping. Everybody is welcome, I will put here details during weekend.

attached screen from Monday

today was lovely trading day, if u fallow rules

Attachment
  • #612
  • Jul 2, 2010 4:58am Jul 2, 2010 4:58am
ad -

see post 601 (by bergax) and then post 602 (by hoss confirming bergax' post) -- these are at the top of page 41. the rules are clearly defined.

the key to this strategy (at least from my perspective and I would also guess from hoss' perspective based on what he has posted) is PATIENCE for the right setup which means waiting through 2 or 3 pushes for the setup to present itself.

happy piippin' ..............
  • #613
  • Jul 2, 2010 5:07am Jul 2, 2010 5:07am
thanks jeff

does an EA exist for this?

or at least the indicators used?



Quoting jefffxtrader
ad -

see post 601 (by bergax) and then post 602 (by hoss confirming bergax' post) -- these are at the top of page 41. the rules are clearly defined.

the key to this strategy (at least from my perspective and I would also guess from hoss' perspective based on what he has posted) is PATIENCE for the right setup which means waiting through 2 or 3 pushes for the setup to present itself.

happy piippin' ..............
  • #614
  • Jul 2, 2010 6:56am Jul 2, 2010 6:56am
Quoting adrianebn
thanks jeff

does an EA exist for this?

or at least the indicators used?
no EA, indicators were posted many times here, dont be so lazy and search...
  • #615
  • Jul 7, 2010 3:57pm Jul 7, 2010 3:57pm
but i still interesd in a EA and id help with test and ideas.

i think it is necessary to have a BB wave count.
  • #616
  • Jul 9, 2010 7:26am Jul 9, 2010 7:26am
i still use kind of a mental stop and get out when i don't feel comfortable. i really haven't found any trouble however when i follow all of the rules. i look for reasons not to trade as opposed to looking for reasons to trade.

Quoting Dhb
Speaking about stops, if you're reading this, Hoss, in the beginning of this thread you mentioned that you didn't use stops. You've become more picky in the mean time, you said you don't like to average down (anymore), so is using no stops something that you've also changed in the mean time, or do you still only use a mental uncle point, so to speak? If you use stops nowadays, how big are they, if you don't mind me asking?

Thanks.
Life is too short to have anything but delusional notions about yourself.
  • #617
  • Jul 10, 2010 7:02pm Jul 10, 2010 7:02pm
It beats the heck out of me why everybody keeps waiting for a countertrend move, when playing the retracements in the direction of the trend seem to offer much more opportunity.

Hoss, or anybody, please explain to me the rationale of this logic.

I truly respect what you are trying to do here, but I just don't understand it.

I'm sort of a newbie, so I am not criticizing, just confused.

Thanks so much for any replies, and thanks Hoss for your dedication to this thread.
"Be the change that you wish to see in the world." --Gandhi
  • #618
  • Jul 11, 2010 1:14pm Jul 11, 2010 1:14pm
People always trade system that suits them, if it is counter trend trading or trend trading, news trading...I think you need to try all of them to find profitable system for u. The logic of system is high probability, if u wait enough and choose right trades you can get 80% or more.

Personally I dont believe any kind of trend trading. It is like 40 pips up then 10 down again 20 up maybe 30 down. I think is better for me to find high probability turning point instead to enter trend which can turn to opposite site when I enter.
  • #619
  • Jul 11, 2010 7:23pm Jul 11, 2010 7:23pm
Quoting bergax
People always trade system that suits them, if it is counter trend trading or trend trading, news trading...I think you need to try all of them to find profitable system for u. The logic of system is high probability, if u wait enough and choose right trades you can get 80% or more.

Personally I dont believe any kind of trend trading. It is like 40 pips up then 10 down again 20 up maybe 30 down. I think is better for me to find high probability turning point instead to enter trend which can turn to opposite site when I enter.

Bergax, you said it right on!
  • #620
  • Jul 12, 2010 5:43am Jul 12, 2010 5:43am
Enter Short with 10 positions at 1.2574 just now.
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