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5-min PASS (Price Action Scalper System)

  • #1,141
  • Mar 11, 2011 8:23pm Mar 11, 2011 8:23pm
I was actually answering this part of your question:
Quote
shouldnt the trade setup be, to set the sell stop 2 PIPs below this fractal
and my point was I would not have set the sell stop. Sorry its late here so might not be answering as clearly as I could.
  • #1,142
  • Mar 11, 2011 8:56pm Mar 11, 2011 8:56pm
Quoting ohammond
I was actually answering this part of your question: and my point was I would not have set the sell stop. Sorry its late here so might not be answering as clearly as I could.

yup, no problem. lots of examples in e future.

may i refer to attached diagram, fractal 1 will not be executed, whereas fractal 2, when executed, will give us some PIPs. right ?
Attached Image
  • #1,143
  • Mar 12, 2011 3:49am Mar 12, 2011 3:49am
Quoting kedridder
yup, no problem. lots of examples in e future.

may i refer to attached diagram, fractal 1 will not be executed, whereas fractal 2, when executed, will give us some PIPs. right ?
Right. Just make sure to look left (previous highs etc) that it may need to break first, also support/resistance.

What I normally do is not set a take profit, but at 15 pips set the stop loss to breakeven + 1 pip and then follow 5 pips behind the previous up candle (if buying), that way you are taking price action into account rather than an arbitrary number and then go in again if it feels right and there is a re-entry. Sometimes that will knock me out earlier but sometimes like for instance Friday on EUR/JPY it allowed me to get 90 pips from one move.
  • #1,144
  • Edited 4:38am Mar 12, 2011 3:55am | Edited 4:38am
Hi guys,
I was counting lil a bit..and the results are insane...
PASS strategy developed orders for 288 pips last week on EU (SL based on fractals)... Itīs incredibly high number for scalping system...
349 pips on GU...

THANK YOU PurePrice...again
Lose small, WIN BIG..
  • #1,145
  • Mar 12, 2011 11:07am Mar 12, 2011 11:07am
Quoting ohammond
Right. Just make sure to look left (previous highs etc) that it may need to break first, also support/resistance.

What I normally do is not set a take profit, but at 15 pips set the stop loss to breakeven + 1 pip and then follow 5 pips behind the previous up candle (if buying), that way you are taking price action into account rather than an arbitrary number and then go in again if it feels right and there is a re-entry. Sometimes that will knock me out earlier but sometimes like for instance Friday on EUR/JPY it allowed me to get 90 pips from...

got it. thanks for the tip. hope you enjoy ur weekend and it's gonna be a even better week for u!
  • #1,146
  • Mar 12, 2011 12:06pm Mar 12, 2011 12:06pm
Quoting ohammond
Right....
You do that manually or use an EA?
  • #1,147
  • Mar 12, 2011 6:56pm Mar 12, 2011 6:56pm
Quoting Freddyfx
You do that manually or use an EA?
I have a script I use which guides me on the figures, it puts a line on the chart where the stop loss should be because its quicker than working it out myself but I put in a hard stop as well in the same place just in case the internet goes off etc. Its very helpful when I've got a couple of trades in at the same time. As I watch 3 currencies they often trigger very close to each other and it saves confusion
  • #1,148
  • Mar 12, 2011 7:36pm Mar 12, 2011 7:36pm
Quoting ohammond
I have a script I use which guides me on the figures, it puts a line on the chart where the stop loss should be because its quicker than working it out myself but I put in a hard stop as well in the same place just in case the internet goes off etc. Its very helpful when I've got a couple of trades in at the same time. As I watch 3 currencies they often trigger very close to each other and it saves confusion

Care to share the script?
  • #1,149
  • Mar 12, 2011 7:37pm Mar 12, 2011 7:37pm
Quoting Freddyfx
Care to share the script?

yeah, i'm keen too. may i have one too?
  • #1,150
  • Mar 12, 2011 9:47pm Mar 12, 2011 9:47pm
Unfortunately, the one I've got, I bought ages ago and I'm not allowed to put it out on forums but I will have a look today on FF because I saw one somewhere here that does basically the same thing, and will post it once I have it.
  • #1,151
  • Mar 12, 2011 10:02pm Mar 12, 2011 10:02pm
This EA looks pretty good, plenty of options in there for trailing and also has trailing by previous candle, I haven't used it so I'm not sure how it works but its from the THV thread so should be pretty good, test it out on demo first. Not sure though if it takes into account like mine does the previous up or down candle it might just trail behind any candle.
Attached File(s)
File Type: pdf THV CaveManager EA v1.41.pdf   103 KB | 771 downloads
File Type: ex4 THV CaveManager v1.41.ex4   63 KB | 448 downloads
  • #1,152
  • Mar 12, 2011 11:24pm Mar 12, 2011 11:24pm
Hi PASS seniors,
I have a question to clear my doubt regarding the setup fractal. Attached diagram, we can see that on the right side of the chart (EURUSD M5) after the yellow line, the emas are lined up in the order which we want.
Using PASS rules, which fractal do we set as 2 PIPs above as a buy order? is it f1 or f2 fractal?
Attached Image
  • #1,153
  • Mar 13, 2011 3:36am Mar 13, 2011 3:36am
Quoting kedridder
Hi PASS seniors,
I have a question to clear my doubt regarding the setup fractal. Attached diagram, we can see that on the right side of the chart (EURUSD M5) after the yellow line, the emas are lined up in the order which we want.
Using PASS rules, which fractal do we set as 2 PIPs above as a buy order? is it f1 or f2 fractal?
I would think is 'f2'. Correct me if Im wrong...cheers.
  • #1,154
  • Mar 13, 2011 4:35am Mar 13, 2011 4:35am
Quoting kedridder
Hi PASS seniors,
I have a question to clear my doubt regarding the setup fractal. Attached diagram, we can see that on the right side of the chart (EURUSD M5) after the yellow line, the emas are lined up in the order which we want.
Using PASS rules, which fractal do we set as 2 PIPs above as a buy order? is it f1 or f2 fractal?
I would use F2, I usually go in above the fractal that forms when the 6&12 are lined up as long as when I do go in both those emas are above the 48.
  • #1,155
  • Mar 13, 2011 5:01am Mar 13, 2011 5:01am
Quoting kedridder
Hi PASS seniors,
I have a question to clear my doubt regarding the setup fractal. Attached diagram, we can see that on the right side of the chart (EURUSD M5) after the yellow line, the emas are lined up in the order which we want.
Using PASS rules, which fractal do we set as 2 PIPs above as a buy order? is it f1 or f2 fractal?

Hi

I also believe that its fractal number 2. However I think that you must consider the MAs. I think PurePrice indicated that MAs should be shooting up/down. If you look at the chart, MAs are actually leveling rather than shooting up/down.

Hope it makes sense.

Cheers
What you do is a reflection of you....what I do is a reflection of me.
  • #1,156
  • Mar 13, 2011 5:48am Mar 13, 2011 5:48am
Quoting kedridder
Hi PASS seniors,
I have a question to clear my doubt regarding the setup fractal. Attached diagram, we can see that on the right side of the chart (EURUSD M5) after the yellow line, the emas are lined up in the order which we want.
Using PASS rules, which fractal do we set as 2 PIPs above as a buy order? is it f1 or f2 fractal?
yes it is the F2 fractal, because we trade after all EMA's give the signal , the first pull-back.

nice sunday all

cheers
  • #1,157
  • Mar 13, 2011 8:29am Mar 13, 2011 8:29am
Quoting Ezzy
Hi

I also believe that its fractal number 2. However I think that you must consider the MAs. I think PurePrice indicated that MAs should be shooting up/down. If you look at the chart, MAs are actually leveling rather than shooting up/down.

Hope it makes sense.

Cheers


yup, precisely.
i wish to clarify, bcos when price cross f1, the emas are in order. u share my concern, on the same mind now?
  • #1,158
  • Mar 13, 2011 8:30am Mar 13, 2011 8:30am
Quoting punisher
yes it is the F2 fractal, because we trade after all EMA's give the signal , the first pull-back.

nice sunday all

cheers


roger, thanks! i saw the key-word there. "first pull-back". thanks for the help.
  • #1,159
  • Mar 13, 2011 8:56am Mar 13, 2011 8:56am
Quoting punisher
yes it is the F2 fractal, because we trade after all EMA's give the signal , the first pull-back.

nice sunday all

cheers
what a first pullback is not too dangerous,,?

happy weekend,
only an analysis, and I'm always wrong, don't follow me,
  • #1,160
  • Mar 13, 2011 6:38pm Mar 13, 2011 6:38pm
below fractal now
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