Scalperzmania Scalping Technique (Inverted) from Malaysia
- #23
- Edited 3:42am Aug 9, 2010 2:39am | Edited 3:42am
This strategy looks good; could u explain a bit more on why we need to avoid certain candles - you have shared one, any others?
Btw, basically if using your system, if the previous H1 candle is 'BEARISH', we 'BUY' at 50% fibo, and if it is 'BULLISH', we 'Sell' at 50% fibo? Is that correct?
And if it is Bullish, we wait for it to reach the 50% fibo line before we place Sell order, rite?
- #24
- Aug 9, 2010 10:42am Aug 9, 2010 10:42am
- Joined Jun 2010 | Status: scalperzmania forex hymnology | 407 Posts
Yes, scapzmalay, can you explain to me as well why certain types of candles need to avoid? Are they the 'inverted hammers' type of candles?
Btw, basically if using your system, if the previous H1 candle is 'BEARISH', we 'BUY' at 50% fibo, and if it is 'BULLISH', we 'Sell' at 50% fibo? Is that correct?
And if it is Bullish, we wait for it to reach the 50% fibo line before we place Sell order, rite?
YES! avoid certain reject candle like inverted hammer for 1st candle touch 50% fibo and next candle when it touch again 50% can open order
Btw, basically if using your system, if the previous H1 candle is 'BEARISH', we 'BUY' at 50% fibo, and if it is 'BULLISH', we 'Sell' at 50% fibo? Is that correct?
YES!
And if it is Bullish, we wait for it to reach the 50% fibo line before we place Sell order, rite?
YES!
study of behavior and mind,conscious and unconscious
- #26
- Aug 9, 2010 8:03pm Aug 9, 2010 8:03pm
- Joined Oct 2007 | Status: Former institutional dogsbody | 1,253 Posts
I'm not trying to convince anyone. I'm not in the "convincing" business.
- #31
- Aug 10, 2010 9:47am Aug 10, 2010 9:47am
- Joined Jun 2010 | Status: scalperzmania forex hymnology | 407 Posts
Bro Sclpzmalay...can you post the mq4 file for the VEC Scalperz Fibo indic?
I want to edit the fibo levels and the color.
Many thanks! and interesting system, btw.
Imran
You can convert it to to mq4 study of behavior and mind,conscious and unconscious
Because the Fibo levels are calculated with much higher precision than a pip's 4th decimal, safest bet is to zoom all the way in, use a 1 min TF and enter only if the candle actually crosses the 50% level. The MT4 platform actually uses 6 decimals internally, so the graphical margin of error is pretty big.
Hope I made a bit of sense, sorry if I didn't
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Hope I made a bit of sense, sorry if I didn't
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Trusted....!!!
Your Win Ratio are more than LOSS!
Just follow and be patience...
If price not move to 50% fibo just relax.....trade next hours
This technique can be trade anytime you want
What I mean is that, let's say right now it's 6.43am in the morning. So do we wait and we start only at 7.01am for the new current candle to newly appear and look at 6am previous candle? Or say another example is it is now 2.35pm...do we wait and start at 3.01pm and look at previous 2pm candle?
And for your system, it doesn't matter if we place order with the trend or counter-trend?
Thank you, sclpzmalay
Because the Fibo levels are calculated with much higher precision than a pip's 4th decimal, safest bet is to zoom all the way in, use a 1 min TF and enter only if the candle actually crosses the 50% level. The MT4 platform actually uses 6 decimals internally, so the graphical margin of error is pretty big.
Hope I made a bit of sense, sorry if I didn't
& does it mater if we 'counter-trend' the current trend with this system? Becoz we are always taught here to 'follow the trend'...so isn't this dangerous if we counter-trend?
Thank you so much for your system, sclpzmalay, but I still need to ask you to clarify a bit more. Do we start your system just in the beginning of the new current candle?
What I mean is that, let's say right now it's 6.43am in the morning. So do we wait and we start only at 7.01am for the new current candle to newly appear and look at 6am previous candle? Or say another example is it is now 2.35pm...do we wait and start at 3.01pm and look at previous 2pm candle?
And for your system, it doesn't matter if we place order with the trend...
--- Thought he already explained that you have to use the one candle before the current one. If you're trying to trade at 6:43, then see if it already reached 50% fib, if it has then your opportunity already passed, wait for the next hour. How hard is it? Beside, this system is just trying to catch the reversal of the current trend. I assume in a market where there's news event, it wouldn't work so well. In my opinion, you probably have to get at least 2 hour candles that has the same direction before using the fib on the 3rd candle. I could be wrong
Grande
If you follow the indicator, as soon as it shows on the charts, place your entry/stop/ limit - at least for me is easy that way.
Thanks very much for your advice. Hence, basically we're just have to wait after we make our setup for the trend to reach our 50% fibo, whether it is within the current hour or next hour or two hours..and so on, rite?
Thanks again