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Scalperzmania Scalping Technique (Inverted) from Malaysia

  • #41
  • Aug 10, 2010 7:06pm Aug 10, 2010 7:06pm
Quoting Agent-Pipen
--- 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...
Hi there, Agent-Pipen,

Yes, I think he has, but I just want to clarify on that specifically coz I was still not that clear on that...Thanks for your advice too So basically we just wait until it reaches our 50% fibo, rite, no matter how long we have to wait...Thanks!

Another question to you, Agent-Pipen, is that once let's say we reach profit at 23.6% fibo at half past the hour...and it turns the other direction, can we do the same procedure for this current counter-trend based on the previous H1 candle? Or do we wait until this current H1 candle finishes to start again?
  • #42
  • Aug 10, 2010 9:26pm Aug 10, 2010 9:26pm
Quoting Grande
Another question to you, Agent-Pipen, is that once let's say we reach profit at 23.6% fibo at half past the hour...and it turns the other direction, can we do the same procedure for this current counter-trend based on the previous H1 candle? Or do we wait until this current H1 candle finishes to start again?

I've been testing it out, what I do is wait until the hour begins and then draw the fib lines. catch my 5-10pips when it reaches either 23% fib or 0% fib and get out. Then I wait for the hour to finish and start again on the next hour. When the hour ends, and it still doesn't reach my 50% fib, I simply cancel the order. It seems complex but, this way I trade when I want. I have 2 hours to trade I can get in and get out when I want to. Hope, that what I'm trying to say makes sense.
  • #43
  • Aug 11, 2010 12:03am Aug 11, 2010 12:03am
Quoting Agent-Pipen
I've been testing it out, what I do is wait until the hour begins and then draw the fib lines. catch my 5-10pips when it reaches either 23% fib or 0% fib and get out. Then I wait for the hour to finish and start again on the next hour. When the hour ends, and it still doesn't reach my 50% fib, I simply cancel the order. It seems complex but, this way I trade when I want. I have 2 hours to trade I can get in and get out when I want to. Hope, that what I'm trying to say makes sense.

Good
study of behavior and mind,conscious and unconscious
  • #44
  • Aug 11, 2010 12:35am Aug 11, 2010 12:35am
Quoting sclpzmalay
Good

hey sclpzmalay. thanks for sharing. one question, can we change the settings so that it looks at the 4hr timeline instead of the 1hr. when i try to change it, it does nothing. thanks
  • #45
  • Aug 11, 2010 12:47am Aug 11, 2010 12:47am
Found the converter. Thanks.

I can adjust the fibo lines using the translated mq4 file, but I still can't change the color.

Come to think of it, I don't mind a yellow fibo on a white background that much... haha


Quoting sclpzmalay
You can convert it to to mq4
I'm not trying to convince anyone. I'm not in the "convincing" business.
  • #46
  • Aug 11, 2010 12:54am Aug 11, 2010 12:54am
Quoting tangianto
Waiting The EA ...

Am looking forward to EA too!

福 子 Victor V
  • #47
  • Aug 11, 2010 12:57am Aug 11, 2010 12:57am
Hi..
So, given an up-bar the hour before, assuming spot is still high, would you actually leave a stop-sell order at the 50fib level and hope spot punches through all the way to the bottom?

Or would you wait for the punch-thru and then (when it happens) wait for the pull-back to 50fibo for manual execution? (which, if I understand sclpzmalay correctly, is the recommended method)


Quoting Agent-Pipen
I've been testing it out, what I do is wait until the hour begins and then draw the fib lines. catch my 5-10pips when it reaches either 23% fib or 0% fib and get out. Then I wait for the hour to finish and start again on the next hour. When the hour ends, and it still doesn't reach my 50% fib, I simply cancel the order. It seems complex but, this way I trade when I want. I have 2 hours to trade I can get in and get out when I want to. Hope, that what I'm trying to say makes sense.
I'm not trying to convince anyone. I'm not in the "convincing" business.
  • #48
  • Aug 11, 2010 3:47am Aug 11, 2010 3:47am
Quoting Rofleus
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 .
Hello, Rofleus,

When you said 'only if the candle actually crosses the 50& lvl', do you mean that the candle crosses the 50% lvl and stays on the other side for some time without suddenly returning back?
  • #49
  • Aug 11, 2010 4:04am Aug 11, 2010 4:04am
Quoting Grande
Hello, Rofleus,

When you said 'only if the candle actually crosses the 50& lvl', do you mean that the candle crosses the 50% lvl and stays on the other side for some time without suddenly returning back?
Grande

If the candle closes above or below the 50% line, that is your signal to go long or short. In my opinion, if you zoom in to a shorter time to get a quicker entry. If the candle closes in the opposite direction you're intending to trade, stay on the sidelines. At least that's what I'll do.
  • #50
  • Edited 4:28am Aug 11, 2010 4:12am | Edited 4:28am
Quoting wp3vv
Grande

If the candle closes above or below the 50% line, that is your signal to go long or short. In my opinion, if you zoom in to a shorter time to get a quicker entry. If the candle closes in the opposite direction you're intending to trade, stay on the sidelines. At least that's what I'll do.
Hi there, wp3vv,

Thanks for your quick reply!

I think I'm getting a clearer picture now...let's say the prev H1 candle was bullish, & currently we're waiting to sell....so you mean that we have to wait until the candle actually 'closes' below the 50% line and not just sell immediately after the price just 'crosses' it?

And do you mean the 'whole candle' has to close over the 50% line or the just 'price itself'? What if the candle closes halfway of the 50% lvl? I'm using the M1 time frame to get in as suggested, that's why it's a bit confusing for me when to enter because of the volatility of the M1 candles....unlike for M5 TF...
  • #51
  • Aug 11, 2010 4:47am Aug 11, 2010 4:47am
Quoting Grande
Hi there, wp3vv,...
Yes, the whole candle.

The candle is just a graphical representation of price. You can still trade off five minutes, it really doesn't matter. just that on one minute you could have a quicker entry.
  • #52
  • Aug 11, 2010 6:08am Aug 11, 2010 6:08am
Quoting wp3vv
Yes, the whole candle.

The candle is just a graphical representation of price. You can still trade off five minutes, it really doesn't matter. just that on one minute you could have a quicker entry.
So the whole candle has to pass, not just half. Okay, got it, wp3vv! Thank you very much!
  • #53
  • Aug 11, 2010 7:19am Aug 11, 2010 7:19am
Quoting imranyusof
Hi..
So, given an up-bar the hour before, assuming spot is still high, would you actually leave a stop-sell order at the 50fib level and hope spot punches through all the way to the bottom?

Or would you wait for the punch-thru and then (when it happens) wait for the pull-back to 50fibo for manual execution? (which, if I understand sclpzmalay correctly, is the recommended method)

I would trade manually, the 3rd photo attachment says to avoid that type of signal, which to me is a pull back. and setting it auto trade would not detect that, it'll simply open up the order once it hits a certain number.
  • #54
  • Aug 11, 2010 7:55am Aug 11, 2010 7:55am
Quoting sclpzmalay
Also this method newbie can easy understand also advanced trader. IT ALSO CAN USE ON ANOTHER PAIR THAT HAVE LOW SPREAD like 2 or below 2
Trust me on lifetime in forex trading you will profitible JUST BE PATIENCE

If my method is usefull PLEASE RATE MY THREAD

Thanks Sclpzmalay for this insightful knowledge, I wonder why I didn't think of such. I traded the big Ben theory which was high and low from a given time frame, but never thought to just put it into lower time frame and trade the reversal. This is the smartest and simplest system I've come across.

- Also, I want to mention, this system is very fast. I have four pairs, EU, EJ, GU, and AU.. I draw the fib levels after the hour is up, because there's a five min window from the last hour bar to the new 5 min bar. ex: 12:00 candle finish, I start to draw in the fib and then go into 5 min TF, wait until 12:05 before it counts as moving toward 50%. exit doesn't have to be always hitting a certain fib level. You can exit when you think it's reversing.

- This has to be a very MANUAL thing, I don't recommend auto trading
  • #55
  • Aug 11, 2010 9:48am Aug 11, 2010 9:48am
Quoting camvcvoo
Am looking forward to EA too!

Have fun guys!
Attached File(s)
File Type: mq4 LamAlif.mq4   5 KB | 850 downloads
  • #56
  • Aug 11, 2010 10:45am Aug 11, 2010 10:45am
Quoting Agent-Pipen
I would trade manually, the 3rd photo attachment says to avoid that type of signal, which to me is a pull back. and setting it auto trade would not detect that, it'll simply open up the order once it hits a certain number.

Manual trade is good to trader to avoid certain reject candle....

Please do not set pending order at 50% fibo!
study of behavior and mind,conscious and unconscious
  • #57
  • Aug 11, 2010 11:42am Aug 11, 2010 11:42am
Quoting wp3vv
Grande

If the candle closes above or below the 50% line, that is your signal to go long or short. In my opinion, if you zoom in to a shorter time to get a quicker entry. If the candle closes in the opposite direction you're intending to trade, stay on the sidelines. At least that's what I'll do.

Has the OP verified that a candle must close above/below the 50% line?
  • #58
  • Aug 12, 2010 12:05am Aug 12, 2010 12:05am
Quoting sclpzmalay

Manual trade is good to trader to avoid certain reject candle....

Please do not set pending order at 50% fibo!
Hello again, sclpzmalay,

I got caught out a number of times with the SL, so I just want to know from you, how 'short' of H1 candle would you recommend for us, to not put up a SL to avoid getting caught out unnecessarily? How short in number of pips...?
  • #59
  • Edited 12:32am Aug 12, 2010 12:09am | Edited 12:32am
Quoting droslan
Have fun guys!
What's the difference in this 'LamAlif.mq4 ' attachment? Don't think it's working, bro...
  • #60
  • Aug 13, 2010 4:59am Aug 13, 2010 4:59am
Quoting Grande
Hello again, sclpzmalay,

I got caught out a number of times with the SL, so I just want to know from you, how 'short' of H1 candle would you recommend for us, to not put up a SL to avoid getting caught out unnecessarily? How short in number of pips...?

I dont know how to tell... When you do it on your trade you will know because this is an experience
study of behavior and mind,conscious and unconscious
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