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Urban Towers Scalping Strategy

  • #241
  • Nov 16, 2010 5:48pm Nov 16, 2010 5:48pm
Quoting Carllos
TP hit 17 pips
SL hit 7.5 pips
Stop loss is too tight. It can hit anytime. Previous swing high/low could help.

I have seen in my euro/gbp chart, i dont see a signal to go long there, neither i will go short as the pair is almost flat.
Intraday only.
  • #242
  • Nov 18, 2010 5:47am Nov 18, 2010 5:47am
Very profitable morning. Anyone making pips?
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"Hoe ur pips mate?" fxcarllos
  • #243
  • Nov 19, 2010 1:09am Nov 19, 2010 1:09am
Quoting winalot
This looks like an interesting strategy. I will be watching and trying on demo.

Thanks Navin
You're welcome.

- Navin Prithyani
  • #244
  • Nov 19, 2010 1:12am Nov 19, 2010 1:12am
Quoting Carllos
I never tested 5M. You may laugh about it, but itīs true ) I tend to do things that work and make them simple, adding more stuff or twisting a lot is usualy a waste of time for me

Maybe Navin ca say something about it.
Since this strategy is a technical strategy, the higher the time frame the better. Forex is pretty much a cash market and there is too much volitility due to so much news on the smaller time frames to make technical strategies work.

My opinion - if you're using a technical style of trading, stick to 15 mins and above.

- Navin Prithyani
  • #245
  • Nov 19, 2010 1:13am Nov 19, 2010 1:13am
Quoting navk
It is a good system. I consistently take profits using of cource 5 min chart. On 15 min chart, it looks more reliable though.

I take 15 to 20 pips and do not wait more. May be this is my problem coming out early ? But i took 160 pips profit - 60 pips loss ( net 100 pips profit ) since yesterday

I look for width, breadth and arrow marks by xpma indicator. May be if i use 15 min chart, i can minimize losses.

When the rainbow is flat, one has to be cautious and do not enter into trade.

Thanks to Prithyani for this wonderful system.
You're welcome Navk

- Navin Prithyani
  • #246
  • Nov 19, 2010 1:15am Nov 19, 2010 1:15am
Quoting navk
If you ask me i will not trade in usd/jpy, it is slow moving currency pair. I choose to trade in strong trending pairs.
I agree with you on this one navk.

Here is the outlook :

- Choose a strong trending pair
- If the pair has a large spread, trade on a higher time frame.

For smaller time frames
- Choose a strong trending pair
- You can trade on lower time frames.

Navin Prithyani
  • #247
  • Nov 19, 2010 1:16am Nov 19, 2010 1:16am
Quoting Carllos
Very profitable morning. Anyone making pips?
  • #248
  • Nov 19, 2010 4:35am Nov 19, 2010 4:35am
Using the Urban Towers Scalping Strategy in conjunction with my Daily Forex Forecasts, I shorted the US Dollar in many of the pairs. Trades running at +100 pips so far.

- Navin Prithyani
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  • #249
  • Nov 19, 2010 4:44am Nov 19, 2010 4:44am
For everyone questioning profitability of the system.. Please open a trending pair, any pair and JUST DO IT!

-Urban Towers by Mr Prithyani -
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"Hoe ur pips mate?" fxcarllos
  • #250
  • Nov 20, 2010 3:51am Nov 20, 2010 3:51am
Carllos, this short failed, in your opinion was it valid?
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  • #251
  • Nov 20, 2010 6:48am Nov 20, 2010 6:48am
Quoting stricky1967
Carllos, this short failed, in your opinion was it valid?
Sure it was valid I never trade before NFP or major news.
Even with a win/loss ratio of 1/3 this strategy is still profitable. SL should be kept short TP at 100% fib retracement There are plenty of winning tades to cover losses
"Hoe ur pips mate?" fxcarllos
  • #252
  • Nov 20, 2010 7:38am Nov 20, 2010 7:38am
Quoting Carllos
Sure it was valid I never trade before NFP or major news.
Even with a win/loss ratio of 1/3 this strategy is still profitable. SL should be kept short TP at 100% fib retracement There are plenty of winning tades to cover losses

OK Carllos thanks for the reply

.....and also a big thanks for all of your your previous posts in this thread.

I had 3 losers late friday afternoon but will give this a run from monday morning, do you only trade the 15m TF?
  • #253
  • Nov 20, 2010 12:42pm Nov 20, 2010 12:42pm
Quoting stricky1967
OK Carllos thanks for the reply

.....and also a big thanks for all of your your previous posts in this thread.

I had 3 losers late friday afternoon but will give this a run from monday morning, do you only trade the 15m TF?
I only trade 15m. And i avoid fridays as much as i can. I have a bad record on fridays.. though early morning trades seems to be quiet good i live at GMT 0.
"Hoe ur pips mate?" fxcarllos
  • #254
  • Edited Nov 21, 2010 12:49am Nov 20, 2010 12:53pm | Edited Nov 21, 2010 12:49am
Quoting Carllos
I only trade 15m. And i avoid fridays as much as i can. I have a bad record on fridays.. though early morning trades seems to be quiet good i live at GMT 0.

OK point taken, I'm GMT 0 too, will stick to the busier times, thanks for the advise

what is the indi you are using that shows 'arrows' when price hits MA's? Does it have an alert?

thanks
  • #255
  • Nov 21, 2010 1:28pm Nov 21, 2010 1:28pm
Quoting Carllos
Sure it was valid I never trade before NFP or major news.
Even with a win/loss ratio of 1/3 this strategy is still profitable. SL should be kept short TP at 100% fib retracement There are plenty of winning tades to cover losses
Yes, please be aware of major news releases when working on a small time frame such as 30mins or below.

- Navin Prithyani
  • #256
  • Nov 21, 2010 2:12pm Nov 21, 2010 2:12pm
Quoting stricky1967
OK point taken, I'm GMT 0 too, will stick to the busier times, thanks for the advise

what is the indi you are using that shows 'arrows' when price hits MA's? Does it have an alert?

thanks
Iīve coded it myself, itīs a work in progress. Just give me a visual and i havnt built an alarm. I tend to look at market when i can Iīll work on something for the forum
"Hoe ur pips mate?" fxcarllos
  • #257
  • Nov 23, 2010 6:34am Nov 23, 2010 6:34am
eurusd
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"Hoe ur pips mate?" fxcarllos
  • #258
  • Nov 23, 2010 6:45am Nov 23, 2010 6:45am
audusd
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"Hoe ur pips mate?" fxcarllos
  • #259
  • Nov 23, 2010 7:27am Nov 23, 2010 7:27am
Nice going Carllos, the chart postings help a lot.
  • #260
  • Nov 23, 2010 8:23am Nov 23, 2010 8:23am
Quoting piprac
Nice going Carllos, the chart postings help a lot.
"Hoe ur pips mate?" fxcarllos
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