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Razor-sharp scalping

  • #21
  • Jan 12, 2011 11:56am Jan 12, 2011 11:56am
Quoting dragan53
hey jiva,this looks interesting,but to give u a suggestion i recommened using the heiken ashi indi,with candlestick charts without haikenashi chart bars,
i think u know what i mean,
this is good for timing,macd sure looks good with the ha indi
customized setting macd, 21,100,9.....
When I get more familiar with using these signals it will be possible to trade in such a way as to stay in longer than for 25 pips (one candle) Like today the entry was good for way more than 20 pips......
  • #22
  • Jan 12, 2011 3:34pm Jan 12, 2011 3:34pm
http://www.forexfactory.com/attachme...02009%202:08pm

only my second post on FF
i have been looking for keep it simple yet effective indi for while now. i think this indicator is just the kind i have been looking for.... so much potential as far as i am concerned.
but, like jiva said, without an audio and/or a pop out alert, its sooo difficult to keep up with all the pairs i want to monitor on top of the hour when sometimes 5 pip will move in a blink....
being a newb like me wonder who can i request to make the changes.
love simple strategies...thanks jiva.
  • #23
  • Jan 12, 2011 10:39pm Jan 12, 2011 10:39pm
Quoting indranghimir
http://www.forexfactory.com/attachme...02009%202:08pm

only my second post on FF
i have been looking for keep it simple yet effective indi for while now. i think this indicator is just the kind i have been looking for.... so much potential as far as i am concerned.
but, like jiva said, without an audio and/or a pop out alert, its sooo difficult to keep up with all the pairs i want to monitor on top of the hour when sometimes 5 pip will move in a blink....
being...
Hi,
yes I agree simple yet effective. Am looking forward to some trades today...
and yes pop up with sound can make this much more workable.
While the 2nd candle is forming it may take several minutes for it to go 5 pips, even 10, 15 or 20 mins... after all these are 60 min candles. With sound and pop up we can monitor more than one pair also.
although I am finding just staying with EURUSD is very effective. To really stay in tune with what is going on with just one pair, for now.
Let us know how it goes.
Most new traders just lose all their money. So be careful. Demo or micro to start is good.

There are some great coders floating around the forums. We can only hope one of these talented geniuses will find our thread and take compassion on us...


curious about the link you posted but there is something wrong with it...maybe not all of it got pasted from the copy function....
  • #24
  • Jan 12, 2011 11:00pm Jan 12, 2011 11:00pm
Quoting A95h
It is a very nice system but I have a problem with the template. There is no signal for today so i was wrong somwhere. Can You help me please.[IMG]file:///C:/DOCUME%7E1/Acer/LOCALS%7E1/Temp/moz-screenshot.png[/IMG][IMG]file:///C:/DOCUME%7E1/Acer/LOCALS%7E1/Temp/moz-screenshot-1.png[/IMG]
I guess you changed some colors to your own liking? If not the template does't seem to have loaded properly.
The heiken ashi smoothed does not have tails (the blue and red candles) they are just up and down rectangles.

Looks like the indicator "2RevBarsEntry_arr0Bar_mtf.ex4" may not have loaded properly.

try reloading the indicators again and the template again....
Attached File(s)
File Type: zip razor sharp scalping.zip   26 KB | 358 downloads
  • #25
  • Jan 12, 2011 11:07pm Jan 12, 2011 11:07pm
just set up the trading for today. am little late getting in the trade..
set the tp at the wood pivot....
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  • #26
  • Jan 12, 2011 11:13pm Jan 12, 2011 11:13pm
Market hours makes a big difference. The times for trading are at least as important as trendlines, pivots etc, for trading decisions.
the signal highlighted in blue should not be taken simply because of the market time, just after US close...
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  • #27
  • Jan 12, 2011 11:15pm Jan 12, 2011 11:15pm
u know whats wrong with ha in m1,it lags!

http://www.investopedia.com/articles.../04/092204.asp

ha works somwhat like moving averages
  • #28
  • Jan 12, 2011 11:19pm Jan 12, 2011 11:19pm
check out some of my nd yaed's scalper ideas,

http://www.forexfactory.com/showthre...271399&page=21

u might like them
  • #29
  • Jan 12, 2011 11:21pm Jan 12, 2011 11:21pm
btw ,some more edu about macd's

lol i only found out what macd was actually couple of days ago while reading charting for dummies,
  • #30
  • Jan 12, 2011 11:59pm Jan 12, 2011 11:59pm
added to the short position, as second signal appeared..
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  • #31
  • Jan 13, 2011 12:57am Jan 13, 2011 12:57am
1st position closed..
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  • #32
  • Edited 1:36am Jan 13, 2011 1:24am | Edited 1:36am
Jiva thanks for sharing always appreciating your excellnt threads.

I don't think lagging indicators will be of much help here though I would personally only use previous price action areas to decide if it is safe to enter or not and for SL/TP areas.

But of course only my opinion

UPDATE

OK I take it back, market sentiment is needed to filter some bad trades maybe a good moving average or MACD will do
  • #33
  • Jan 13, 2011 1:35am Jan 13, 2011 1:35am
Quoting Saidar
Jiva thanks for sharing always appreciating your excellnt threads.

I don't think lagging indicators will be of much help here though I would personally only use previous price action areas to decide if it is safe to enter or not and for SL/TP areas.

But of course only my opinion
Thanks for the kind words.
Yes I agree indicators like macd etc are really limited in their usefulness.
I use them just to try to give some general idea of the overall direction.
But this is a purely price action based strategy.
Candles, support and resistance basically...
  • #34
  • Jan 13, 2011 1:36am Jan 13, 2011 1:36am
Quoting jiva34
I guess you changed some colors to your own liking? If not the template does't seem to have loaded properly.
The heiken ashi smoothed does not have tails (the blue and red candles) they are just up and down rectangles.

Looks like the indicator "2RevBarsEntry_arr0Bar_mtf.ex4" may not have loaded properly.

try reloading the indicators again and the template again....

Tank you for the help. I checked the indicator parameters. They were set for broker with 5 digits but mine is with 4 digits.
  • #35
  • Jan 13, 2011 1:38am Jan 13, 2011 1:38am
Frankfurt session opened and we got a pop.
stopped out on the 2nd position. I considered before taking the trade that we were getting close to Frankfurt and maybe not a good idea... So I only took the second trade in the demo and not in the micro.
So still learning...
Overall net gain for last 3 days. Learning curve mistakes and all.
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  • #36
  • Jan 13, 2011 1:38am Jan 13, 2011 1:38am
Quoting jiva34
Thanks for the kind words.
Yes I agree indicators like macd etc are really limited in their usefulness.
I use them just to try to give some general idea of the overall direction.
But this is a purely price action based strategy.
Candles, support and resistance basically...
Read my update hehe, I agree after doing some quick backtests a whipsaw or ranging market may take you out so a good moving average or macd can be useful to not trade those areas or to trade with the overall trend
  • #37
  • Jan 13, 2011 1:42am Jan 13, 2011 1:42am
Quoting jiva34
Frankfurt session opened and we got a pop.
stopped out on the 2nd position. I considered before taking the trade that we were getting close to Frankfurt and maybe not a good idea...
So still learning...
Overall net gain for last 3 days. Learning curve mistakes and all.
Good job Jiva, more than I expected! What may just improve the odds with this strategy is to wait for a 4hr bar to close, then wait for a one hour bar to close in the same direction.

May/may not improve the odds but will test it. Maybe I'll write a strategy in JTrader to backtest this and see what filters/TP/SL settings works the best.
  • #38
  • Jan 13, 2011 2:10am Jan 13, 2011 2:10am
Quoting Saidar
Good job Jiva, more than I expected! What may just improve the odds with this strategy is to wait for a 4hr bar to close, then wait for a one hour bar to close in the same direction.

May/may not improve the odds but will test it. Maybe I'll write a strategy in JTrader to backtest this and see what filters/TP/SL settings works the best.
keep us updated on your findings...
much interested
thanks
  • #39
  • Jan 13, 2011 2:25am Jan 13, 2011 2:25am
The signal to enter long was there.
which means prices moved 5 pips up from open,
so I entered long
then the prices fell and the signal disappeared,
Itis not exactly repainting, since repainting occurs for candles that have already closed.
since the 1 hour candle is still forming it is understandable that signals may disappear if the candle starts to form in the opposite direction.
To wait until the candle closes is too late to take the trade.
As with any strategy many things need to be considered.
It is interesting to note that the signal for long appeared at exactly the same prices as a previous failed attempt to breakout about 10 hours ago.
Had I noticed that I might not have taken the trade.
I have moved the stop lower to the 61 fib on the 5min.
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  • #40
  • Edited 2:59am Jan 13, 2011 2:32am | Edited 2:59am
from the looks of the day chart I'm inclined to think there is a test of resistance and that the tendency is for downside.
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