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Leading indicator & Scalping Method

  • #41
  • Nov 23, 2010 6:27am Nov 23, 2010 6:27am
Losses will be inevitable. The question is will it keep you out of a pattern of losing repetitively that wipes out your previous week's happiness. Or can there be made a loss tolerance quit time that works, ...
  • #42
  • Nov 23, 2010 7:41am Nov 23, 2010 7:41am
I've taken losses in this trend trading the bottoms. My undefeated trade glory in this thread is now smashed.
  • #43
  • Nov 23, 2010 7:41am Nov 23, 2010 7:41am
Perhaps if one way or another, a trend is determined, trades set ups could be adapted for that. For example in this downtrend, whenever the 5m stoch is on an up wave, even if it has not reached the 50 sometimes, look for over bought areas on the 1m to enter with the trend.
  • #44
  • Nov 23, 2010 7:44am Nov 23, 2010 7:44am
Quoting jmag
Newyear, I'm definitely up on trying your 10 sec addition. I'm at the screen now but I'm distracted by Monday night football hoping my Broncs can pull out a win. I might trade a bit after or if not then US session.
Jmag.. good going on your current success.. and I was thinking.. you should be using blue candles for up.. and orange candles for down... support your team
  • #45
  • Nov 23, 2010 7:46am Nov 23, 2010 7:46am
Quoting jmag
Perhaps if one way or another, a trend is determined, trades set ups could be adapted for that. For example in this downtrend, whenever the 5m stoch is on an up wave, even if it has not reached the 50 sometimes, look for over bought areas on the 1m to enter with the trend.
I like that adaption.. show an example when you get a chance.. then I will have better idea .. I would rather we have a dynamic adaptable system.. if we never adapted during evolution where would we be

Thanks!
  • #46
  • Nov 23, 2010 7:50am Nov 23, 2010 7:50am
Quoting newyear498
Jmag.. good going on your current success.. and I was thinking.. you should be using blue candles for up.. and orange candles for down... support your team
I do have orange and blue set ups in some accounts.
  • #47
  • Nov 23, 2010 8:05am Nov 23, 2010 8:05am
Quoting newyear498
I like that adaption.. show an example when you get a chance.. then I will have better idea .. I would rather we have a dynamic adaptable system.. if we never adapted during evolution where would we be

Thanks!
Another thought, on the other hand, is to not try to make a ranging method into a trending method. Notice since about 5am EST the 5m stoch has never entered the overbought position. So a rule could be to stay out until the 5m stoch has given us a signal the other way. There would have been no entries since the first over sold signal after that.
  • #48
  • Edited 10:32am Nov 23, 2010 10:13am | Edited 10:32am
I like trading new ideas in unfavorable conditions just to get a good feel..

Heres an example just that.. numbers relate to images...

1.) I know right off the bat.. the 5 minute chart is getting 3-5 pips .. NEVER TRADE THAT JUNK! (bad price action) but I wanted to test the method...

so 5M stochastic is down.. sorta coming from the overbought
1M is turning down.. ok looking good.. go to 10SEC

2.) I waited for 10 SEC to go above 50.. it turn down I got filled (sorry took the pic late..) red arrow shows where I enter at low of that green bar..

then the stochastic started turning up.. so I got out (with half a pip profit)

3.) sure it still went to 3 pips.. but don't be greedy.. in a more ideal situation we woulda gotten out 3 pips.. but remember the 5 min was barly getting 5 pips of range

I would prefer atleast 5 minute getting 15 + pips min...
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  • #49
  • Nov 23, 2010 10:39am Nov 23, 2010 10:39am
Quoting jmag
Another thought, on the other hand, is to not try to make a ranging method into a trending method. Notice since about 5am EST the 5m stoch has never entered the overbought position. So a rule could be to stay out until the 5m stoch has given us a signal the other way. There would have been no entries since the first over sold signal after that.
Yes that would work well.. I dont take many trades with this method unless the 5M is looking like its gonna turn in the overbought/sold area or is leaving one of those areas

the more strict we are I suspect the more probabilities in our favor,

did you say currently you have a 5 win 0 loss streak going? keep it up!
  • #50
  • Nov 23, 2010 11:06am Nov 23, 2010 11:06am
Quoting newyear498
Yes that would work well.. I dont take many trades with this method unless the 5M is looking like its gonna turn in the overbought/sold area or is leaving one of those areas

the more strict we are I suspect the more probabilities in our favor,

did you say currently you have a 5 win 0 loss streak going? keep it up!
No, you must have missed my previous post #42. Today's trend busted me up. I did sort of predict it but it didn't make it feel any better.
  • #51
  • Edited 3:08pm Nov 23, 2010 2:12pm | Edited 3:08pm
If we can determine there is a trend, look at overbought zones on 1m. Nice entries.
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  • #52
  • Nov 23, 2010 5:45pm Nov 23, 2010 5:45pm
Quoting jmag
If we can determine there is a trend, look at overbought zones on 1m. Nice entries.
I like that.. looks very nicely... just wait for the cross while its above the overbought line and you got a nice entry

honestly my favorite thing right now about this post is the way I learned to use the 10SEC chart for the best entries..

I am using some different scalping methods but the 10 sec entry gives me such crisp entries and almost instantly puts me in a winning position where as before in my trading it was wait 5 minutes for a small lose to turn into unrealized gains..
  • #53
  • Nov 23, 2010 11:19pm Nov 23, 2010 11:19pm
nice tip for the 10sec. i have not tried but interested to see if this is still working for u after a few weeks/months, so I will continue to check this thread for updates. i am looking at some other systems/things/ideas, but plan to come back and give this a test as I use oanda and done a lot of 1m scalping, but not used the 10sec before - will test when I can. Good luck.

dazz
  • #54
  • Nov 24, 2010 2:52am Nov 24, 2010 2:52am
Hello, I'm reading your discussion with interest. I trade using MT4. Do any of you know a way to get 10sec charts/indi's with MT4 (realtime obviously)?
  • #55
  • Nov 24, 2010 6:43am Nov 24, 2010 6:43am
Quoting dazzdude
nice tip for the 10sec. i have not tried but interested to see if this is still working for u after a few weeks/months, so I will continue to check this thread for updates. i am looking at some other systems/things/ideas, but plan to come back and give this a test as I use oanda and done a lot of 1m scalping, but not used the 10sec before - will test when I can. Good luck.

dazz
I think if your scalping the 1M you will find the 10Sec entry to be extremely helpful.. I am 99% confident it would hold up in time..

you might want to adapt the 10sec to any turn down and retractment.. (where before I mention below 50 on the stochastic..) well you could also take any.. it really depends on your initial strategy..

for example the one I originally mentioned works good with 10Sec below 50 since momentum is low on 5 and 1 minute.. so you can get that nice entry on 10...

but with other methods I used 10sec entry with(like trendline breaks) there is so much momentum and prices taking off I take any retracement
  • #56
  • Nov 24, 2010 6:45am Nov 24, 2010 6:45am
Quoting fxbr56
Hello, I'm reading your discussion with interest. I trade using MT4. Do any of you know a way to get 10sec charts/indi's with MT4 (realtime obviously)?
I havent messed with MT4 but I am looking forward to using it in the future..

so hopefully another user will comment
  • #57
  • Nov 25, 2010 11:35am Nov 25, 2010 11:35am
Quoting m.m.m.
The indicators may need a litte bit of 'tweaking'; with the RSI I found median price as input and a period of 4 the most valuable.
Set up like this, the relevant levels are 10/90.
Also I combine RSI and the DIs into one window and size it up, to see every detail of the movement, as it is quite important to me.
And there is one more thing I found important:...

hi m m m


could you elaborate on your method a bit more and what settings you have on the other indis you use ? how do you use them to determine entry exit ? some chart examples would be useful.

thanks
  • #58
  • Nov 25, 2010 1:10pm Nov 25, 2010 1:10pm
Quoting whatfx
hi m m m


could you elaborate on your method a bit more and what settings you have on the other indis you use ? how do you use them to determine entry exit ? some chart examples would be useful.

thanks
I think I have given a good explanation on my indicators and already provided quite a bit of chart examples

I am not used that ADX for this method so I know its on the chart but I ignore it.

Even Jmag provided some examples of his own trades..

Honestly I don't know how to be more descriptive?

as you can tell I like MTF, this one is about using momentum.. its not really the best for a trending market.. my guess is if you applied the same concepts but with an RSI you could have a decent trending concept..

jmag also suggested an idea for using in trends..

for this thread my hopes were to spark some interest and see if users could create anything powerful.

to me I find using one indicator on MTF useful than one time frame with 3-4 indicators
  • #59
  • Nov 26, 2010 12:02pm Nov 26, 2010 12:02pm
Right now I havent been using this method.. it does provide some good results for a ranging method as I worked it..

if anyone wants to pick up where I left off and try some other indicators that work better in trends or in both that would be great to see..

Thanks
  • #60
  • Nov 27, 2010 11:53am Nov 27, 2010 11:53am
Quoting jmag
If we can determine there is a trend, look at overbought zones on 1m. Nice entries.
I just came across a similar method on a 15M chart that used these stochastic in the same way you just posted to buy on the pull backs.. and the take profit was the last swing low (if you were shorting per your example)


thought it was interesting and I remembered this post you made.. two different minds finding similar things.. hmm caught my interest...
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