the most secure 5 pip scalping system

Hi Johnny,
what kind of volume indicator you mean?
Tell me about the one you're thinking of

didn't know that volume indicators were of any use.

they have so many different uses, like in emerging patterns,
anyway I think he means volume base indicators,

Hi exking, you seem like nice guy mate. You should continue this nice scalper you have here.
When used with price action on a higher TF, its pretty good.

I never quite understood the volume indicators since fx isn't traded on any central exchange where does the volume data come from? Is it broker's compiling their own volume stats?

Thanks,
sorry I wasn't around for a while,
you're right about considering higher timeframes, I'm still working on it although no-one is helping me, I'm adding some indicators based on higher time frames but it takes a lot of screen watching and I don't have time to test it, I will show my results as soon as I get something solid.
Also I would be happy to hear about how you used it.

I think it's based on the volume of money which is traded in forex

exking

what are your results trading this scalp system ?

hi exking

I have read your strategy and found it worth trying in demo account.does it have recently revisions or upgrades?I am working on another strategy which may be closely related to your strategy so i will follow your thread if any correlation may be achieved.
sincerely thank you for this thread

sorry to disagree with your method for entry, its not wrong, but i think since this is in rookie discussion, all the indis will make them more confused as oppose to helping them. by all means, i dont think your entry method is wrong but rather more complex than it could be if you are teaching to scalp.

as market is relative to our own perceptions, no one is right and no one is wrong. oh gosh, i love posting this gif file (thanks sifu Graeme), which way is the lady rotating?? clockwise, counterclockwise, none/both???

for anyone interested. i think this method is simpler .

find a pair that its previous week closed green and yesterday closed green and price currently above the closing price of yesterday (+, green is relative)
draw three random lines on your chart where you think (oh geez those 5 lettered word, you dont really need it, trust me ) the price will go for the next 6 hours.

if the price penetrate the line from bottom to the top, put in a buy limit order at the price of your line.

vice versa, if previous day and week is red and price below yesterday close ,

if price penetrate the line from top to the bottom, put in a sellshort limit order at the price of the line.

close position when the following candle closes whether or not its win or loss.

do this in a week on a low time frame, i think you will be surprised by the result. ^.^ (off course money management is the most important thing -.-)

hope someone find this helpful.

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I've changed the setting, I will show my results after a while, thanks.

I don't exactly get what you're saying, maybe a chart would help someone

hi,
here are some updates, I changed the trix setting to 5min fast, 15min fast, 30min fast, 1h fast (you get it in the template file here), I also changed the timeframe to 5min and I deleted the MA's.
"I just test it on eur/usd with these settings"
remember when you open your chart or changing charts on your metatrader, refresh the MTF Trix indicator by right-clicking on it choosing the first title and pressing OK.
The entry point is the same(after closing of a 5min candle if you see 4green/red light it's buy or sell). Stoploss is 15 pips and I put my stop at entry point after 8 pips(you can also take some of your lot here). For exit I use next support or resistance but color change of 5min fast trix would be an exit signal, I personally don't get out by color change of the trx, I use it in this way: when price touches a known support or resistance I look at the color of 5min fast trix, if it doesn't change color yet, I let it go for some more, if it breaks the line with a closed candle, it is high probability that it will continue in my direction. But when it touches the lines and 5min trix has changed color I close the trade. When in action you know what to do. Another thing is you can get help by looking at the trix called indicator, it shows you when the cross happened(eventhough the crossing is not a necessity) and slope of the both trixes (fast & slow), check it on 5,15,30 and 1h.
The result is so much better however you don't get more than 4-5 signals everyday, but sometimes it catches big moves.
I would be happy if I hear your results and any development if anyone have.
Thanks alot.

about the volume indicators, they are based on your broker volume anyway

Hello exking.. where r u?
Just found this thread..so please continue updating it

Hi Exking,

I am wondering why you use your Trix indicators rather than the stochastic as Dashlat did in his original thread using the 8/20/50EMA rules:

http://www.forexfactory.com/showthre...=111645&page=9

I don't have MT to test those, but stochastic seems to get you in quicker anyway. Just wondering.