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5-min PASS (Price Action Scalper System)

  • #1,681
  • Mar 29, 2011 1:57am Mar 29, 2011 1:57am
Quoting kimoh
the arrangement of the ema 6ema>12ema>48ema is condition for long

6ema<12ema<48ema is condition for short... i hope i recall my algebraic signs correct.

it is advisable that the M5, M15 and H1 all show the SAME ema trend.

check 1st post for clearer understanding. hope that helps
Got it. Asante Sana, Kimoh
Dave Toddler Pip Gatherer
  • #1,682
  • Mar 29, 2011 2:01am Mar 29, 2011 2:01am
Quoting argentino
Got it. Asante Sana, Kimoh
argentino... wait... where did you say you are from? thats swahili
  • #1,683
  • Mar 29, 2011 2:01am Mar 29, 2011 2:01am
Quoting xsuchyx
News were Flat so no whipsaws i guess, only GDP q/q was a little bit else than expected forecast
Saw your growth this month in fx-trader! Impressive! Was the 145%this month mainly with this system?
Dave Toddler Pip Gatherer
  • #1,684
  • Mar 29, 2011 2:45am Mar 29, 2011 2:45am
Possibly setting up for short?
Dave Toddler Pip Gatherer
  • #1,685
  • Mar 29, 2011 2:55am Mar 29, 2011 2:55am
entry on retrace. double digit level 4100 seems to have given some support
  • #1,686
  • Mar 29, 2011 3:12am Mar 29, 2011 3:12am
Quoting kimoh
entry on retrace. double digit level 4100 seems to have given some support
Any chance you can post a chart so I can see what u mean? Thanks!
Dave Toddler Pip Gatherer
  • #1,687
  • Mar 29, 2011 5:55am Mar 29, 2011 5:55am
Hi PurePrice,

Late start today for you it seems..

As I mentioned last week, I was running through the PASS methodology in MT4 Simulator and results were good. However, I kind of stopped it half way through as there were many losing trades. That is because I was only focusing on the M5 chart set up as I had no clear understanding of your final, refined rules with regard to H1 and M15 TFs. It seems that if we foillow the H1 PA direction/trend, the W/L is well above 70% even though we take less trades.
Therefore, before I do further simulations, I want to know whether we have the tips document now ready that you were talking about on Friday? If I have that I can do a better job as I will be following rules as well and fine-tuned tips and hints wrt highet TFs.
  • #1,688
  • Mar 29, 2011 6:26am Mar 29, 2011 6:26am
I am short this pair since early this morning .. here is the trade setup as I took it ... I have now locked in some profit (+30) and moved my SL to just above previous upfactal

here is the chart .. my TP2 is just above previous swing low of 15935
Attached Image (click to enlarge)
Click to Enlarge Name: mt19.gif Size: 30 KB
  • #1,689
  • Mar 29, 2011 6:41am Mar 29, 2011 6:41am
Quoting PurePrice
I am short this pair since early this morning .. here is the trade setup as I took it ... I have now locked in some profit (+30) and moved my SL to just above previous upfactal

here is the chart .. my TP2 is just above previous swing low of 15935

SL hit , position flat @ +30 pips
  • #1,690
  • Mar 29, 2011 6:48am Mar 29, 2011 6:48am
Quoting PurePrice
SL hit , position flat @ +30 pips
nice

decided to stay out of that trade, i think it was the M15 that did not have clear direction, stayed safe.
  • #1,691
  • Mar 29, 2011 6:49am Mar 29, 2011 6:49am
shaping up
  • #1,692
  • Mar 29, 2011 6:54am Mar 29, 2011 6:54am
Quoting Anu_
Hi PurePrice,

Late start today for you it seems..

As I mentioned last week, I was running through the PASS methodology in MT4 Simulator and results were good. However, I kind of stopped it half way through as there were many losing trades. That is because I was only focusing on the M5 chart set up as I had no clear understanding of your final, refined rules with regard to H1 and M15 TFs. It seems that if we foillow the H1 PA direction/trend, the W/L is well above 70% even though we take less trades.
Therefore, before I do further simulations,...

Thank you for doing this Anu. Unfortunately I have not had a chance to clean up the document yet.

But basically the tips would be to

1- check the higher TFs for the crrect stacking order of EMAs before you take the 5-min trigger.

2- Look for some early entries (re-entries) with the trend

3- MAKE SURE you only trade during ACTIVE market hours otherwise you will get killed with fake signals during dead market hours. Active hours being Frankfort's first 4 hours, London first 4 hours and NY first 4 hours

4- AVOID news.

I am not sure if your simulator can take care of all the above. I know this is why a manual trading method is always better than EA, and that is why this method would fail using an EA, cuz an EA can't think like human
  • #1,693
  • Mar 29, 2011 6:56am Mar 29, 2011 6:56am
Quoting kimoh
shaping up

be careful as EJ is at hstorical highs here around 116
  • #1,694
  • Mar 29, 2011 6:57am Mar 29, 2011 6:57am
in a couple of minutes
  • #1,695
  • Mar 29, 2011 7:07am Mar 29, 2011 7:07am
anyone watching this for a long?
  • #1,696
  • Mar 29, 2011 7:16am Mar 29, 2011 7:16am
Quoting PurePrice
Thank you for doing this Anu. Unfortunately I have not had a chance to clean up the document yet.

But basically the tips would be to

1- check the higher TFs for the crrect stacking order of EMAs before you take the 5-min trigger.

2- Look for some early entries (re-entries) with the trend

3- MAKE SURE you only trade during ACTIVE market hours otherwise you will get killed with fake signals during dead market hours. Active hours being Frankfort's first 4 hours, London first 4 hours and NY first 4 hours

4- AVOID news.

I am not sure if...

Thanks PP.
1) When you say EMA stacking in higher TFs do you mean both H1 and M15 all the time?

Also, by 'Simulator' I don't mean the system is automated. I use the MT4 simulator ( Strategy Tester) for back testing. You can run the price action run faster than normal rate using it from any date/time in the past. So, it is an effcient tool for back testing any method/system. For example, you can run a whole day in about 30 mins in a faster mode and pause when you want. you can chaneg the running speed to suit you. So, I can run through the results of all possible set ups, say 100 set ups and see what the average W/L etc. It is much better than moving the charts by hand manually.
  • #1,697
  • Mar 29, 2011 7:26am Mar 29, 2011 7:26am
Quoting Anu_
Thanks PP.
1) When you say EMA stacking in higher TFs do you mean both H1 and M15 all the time?

Also, by 'Simulator' I don't mean the system is automated. I use the MT4 simulator ( Strategy Tester) for back testing. You can run the price action run faster than normal rate using it from any date/time in the past. So, it is an effcient tool for back testing any method/system. For example, you can run a whole day in about 30 mins in a faster mode and pause when you want. you can chaneg the running speed to suit you. So, I can run through the results...
yes, higher TF means M15 and H1.
  • #1,698
  • Mar 29, 2011 7:33am Mar 29, 2011 7:33am
PP, is cable under your radar to short?
  • #1,699
  • Mar 29, 2011 7:34am Mar 29, 2011 7:34am
Quoting kedridder
PP, is cable under your radar to short?

sorry, i missed out the chart
Attached Image (click to enlarge)
Click to Enlarge Name: cable.jpg Size: 216 KB
  • #1,700
  • Mar 29, 2011 7:40am Mar 29, 2011 7:40am
Quoting kedridder
sorry, i missed out the chart

Perhaps, however I would draw a MCTL in this case and look for early entry short. BUTTTT, if you go to hourly chart, it looks like we may have already put in a double bottom at 15935-15940 area, so it would be interesting to see if cable would continue up past the 1.6000 back to the 1.6035 area or reverse at the round figure and head back down.

Draw a horizontal line at 15940 and another at 16035 on hourly chart and watch that channel for now
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