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Simple Scalp Machine

  • #41
  • May 4, 2011 3:16pm May 4, 2011 3:16pm
Quoting Forexcube
I wish to let all readers well aware that the purpose of this threads existence is of positive intentions. So please respect the fact that all of us are here because we're willing to contribute.

Thank you very much for your valuable time and effort. may your tribe increase! Amen!
  • #42
  • May 4, 2011 3:17pm May 4, 2011 3:17pm
Quoting omi
Thanks forexcube.

The power hours are when im at work

Maybe you could trade the Yen Crosses & Majors during the asian session.
  • #43
  • May 4, 2011 3:21pm May 4, 2011 3:21pm
Quoting Forexcube
Do you have any pip target in mind for each trade?
No I don't want to have a strict pip target in my mind. It depends furthermore at my lotsizes per trade and the quantity of open orders.

...how many trades you take in a day?
Between 20 and 200 trades per day. Often I go in with many identical trades at the same time (4-10) with several different exit points. I like more the dynamical trading, e.g. go out with the 1st order by 2 pips, next one by 5 pips, next one by 8 pips, the most one exits follow the Exit Rule at M1 and/or M5...

Thanks for the replies....

Would you say that the overall higher trend does not matter if your are scalping on m1-m5??

Would you look at say m5-m15 trend for scalping m1??

Thanks
  • #44
  • May 4, 2011 3:29pm May 4, 2011 3:29pm
Quoting omi
Thanks for the replies....

Would you say that the overall higher trend does not matter if your are scalping on m1-m5??

Would you look at say m5-m15 trend for scalping m1??

Thanks
Countertrend trading? Why not?

If I trade M1 I take a look at M5 and M15 but don't observe the main trend (M5/M15) consistently. Often I trade counter the trend in the hope of earning several pips (2-5) in between, e.g. one M5 Short down and interim several M1 Longs up extremely short run.
  • #45
  • May 4, 2011 3:37pm May 4, 2011 3:37pm
Quoting Forexcube
Countertrend trading? Why not?

If I trade M1 I take a look at M5 and M15 but don't observe the main trend (M5/M15) consistently. Often I trade counter the trend in the hope of earning several pips (2-5) in between, e.g. one M5 Short down and interim several M1 Longs up extremely short run.
Yeah,i see now how you can have upto 200 trades,You must be a pip monster
  • #46
  • May 4, 2011 3:44pm May 4, 2011 3:44pm
Quoting omi
Yeah,i see now how you can have upto 200 trades,You must be a pip monster
May be you could follow some examples in the next days and weeks, when the daily trades will be published.
  • #47
  • May 4, 2011 3:45pm May 4, 2011 3:45pm
Example
No Predictable!
Attached Image (click to enlarge)
Click to Enlarge Name: Example, don't predictable.jpg Size: 278 KB
  • #48
  • May 4, 2011 3:51pm May 4, 2011 3:51pm
very simple n profit
tq Forexcube
  • #49
  • May 4, 2011 4:04pm May 4, 2011 4:04pm
Quoting Forexcube
May be you could follow some examples in the next days and weeks, when the daily trades will be published.
Will be following with interest....
  • #50
  • May 4, 2011 4:30pm May 4, 2011 4:30pm
Nice indi&template, thanks i will test it
  • #51
  • May 4, 2011 11:45pm May 4, 2011 11:45pm
Trade Example
EURUSD, M5, 2011 Mai 05

If wellxAMA line go parallel don't trade. May be you could trade the range bound at a smaller time frame with some currency pairs with a tighter spread.


Sufficient volatility?
If wellxAMA are running parallel at M5 so you could trade this range at M1, if the candles could be long enough.
Attached Image (click to enlarge)
Click to Enlarge Name: Trade Example, EURUSD, M5, 2011 Mai 05.jpg Size: 354 KB
  • #52
  • May 4, 2011 11:47pm May 4, 2011 11:47pm
Sorry to hear you ran out of maring in the last account, but thats life i guess. This time you are going with the moves instead of your usual against it at the point it turns, thats interesting.

In effect what are you using the bollingerbands for this time? I dont quite see their function in this strategy...
My signature is: "Classified".
  • #53
  • Edited May 5, 2011 12:03am May 4, 2011 11:52pm | Edited May 5, 2011 12:03am
Quoting omi
Yeah,i see now how you can have upto 200 trades,You must be a pip monster
Everybody should use scripts, doubleclick and the request is sent to the broker. Clicking 400 times in one day is far from impossible, a healthy person can manage at least 200 a minute. If you want to make it a 03 for instance, why not spread it around 5 times on 006 positions, or three times on 01 positions and have different TPs and perhaps even different SLs? Maybe you want to do that, maybe not.

I use a script that takes a fixed amount of the current account as the preprogrammed SL. So lets say a SL of 10 pips and if that is lost it means -0.2% of total account for instance. So with a 5.000 dollars account thats 10 bucks lost if i get stopped out on that order. And the same script have preprogrammed TP. I click it and about 2 seconds later im in. Just search order related scripts or something and youll find it. It would be almost impossible for me to trade without scripts, at least the way i trade now.
My signature is: "Classified".
  • #54
  • Edited 12:37am May 5, 2011 12:10am | Edited 12:37am
Quoting yaed
Sorry to hear you ran out of maring in the last account, but thats life i guess. This time you are going with the moves instead of your usual against it at the point it turns, thats interesting.
Hi buddy!

Oh es sure! I want to produce the evidence that it isn't feasible making money with a 250.-$ Account by 0.01 lot sizes what broker often do offer their clients. That's window dressing for the broker, eyewash, snow job, to be a sham. I'm a experienced trader who normally trade with bigger accounts and it has interested for me if I could do it. May be if you should try it several times. I don't know.

So the following links could be extremely important for all newbies & Forex Traders:

http://www.babypips.com/school/what-...anagement.html

 

  1. What is Risk Management?
  2. Capitalization
  3. Drawdown and Maximum Drawdown
  4. Don't Lose Your Shirt
  5. Reward-to-Risk Ratio
  6. Summary: Risk Management

Read more: http://www.babypips.com/school/what-...#ixzz1LSY3sDXw


http://www.babypips.com/school/leverage-the-killer.html

 

  1. Leverage the Killer
  2. Leverage and Margin Defined
  3. Margin Call Exemplified
  4. Margin + Leverage = Possible Deadly Combination
  5. Negative Effects of Leverage
  6. More on Leverage
  7. How Leverage Affects Transaction Costs
  8. Don't Underestimate Leverage


Read more: http://www.babypips.com/school/lever...#ixzz1LSYW2noK

Best regards
FXcube

  • #55
  • May 5, 2011 12:17am May 5, 2011 12:17am
Quoting yaed
In effect what are you using the bollingerbands for this time? I dont quite see their function in this strategy...

Often I manage some trades interim with the Bollinger Band when M5 looks a little range bound and M1 BB gives me with the upper and lower band some entries and exits, ...or taken some orders like in the frame below: The first trade was done due to the fact that wellxAMA are running down, the second one was typically range bound trading.
Attached Image (click to enlarge)
Click to Enlarge Name: Trading with the Bollinger Band.jpg Size: 314 KB
  • #56
  • May 5, 2011 12:23am May 5, 2011 12:23am
USDCHF, M1, 2011 Mai 05

Have set a pending order at DS1 (Pivotal Point)

Long @ 0.85580 (DS1)

...and take a look at M1. If it will run in my favor, switch at M5 and would let it run further long.

...and have to set a stop loss or hedge it interim.
  • #57
  • May 5, 2011 12:26am May 5, 2011 12:26am
Quoting yaed
Everybody should use scripts, doubleclick and the request is sent to the broker. Clicking 400 times in one day is far from impossible, a healthy person can manage at least 200 a minute. If you want to make it a 03 for instance, why not spread it around 5 times on 006 positions, or three times on 01 positions and have different TPs and perhaps even different SLs? Maybe you want to do that, maybe not.

I use a script that takes a fixed amount of the current account as the preprogrammed SL. So lets say a SL of 10 pips and if that is lost it means -0.2%...
Hi yaed!

Scripts are excellent by scalping. Could you post it here or could you give a link, please.

Thanks!

FXcube
  • #58
  • May 5, 2011 12:36am May 5, 2011 12:36am
Quoting Forexcube
USDCHF, M1, 2011 Mai 05

Have set a pending order at DS1 (Pivotal Point)

Long @ 0.85580 (DS1)

...and take a look at M1. If it will run in my favor, switch at M5 and would let it run further long.

...and have to set a stop loss or hedge it interim.
Hi Forexcube, your system looks very profitable, thanks for sharing

What is your broker and does it provide 3 pips pending orders, or might I read the post after a while
  • #59
  • May 5, 2011 12:40am May 5, 2011 12:40am
Quoting FXtime
Hi Forexcube, your system looks very profitable, thanks for sharing

What is your broker and does it provide 3 pips pending orders, or might I read the post after a while
Hi FXtime

I have different brokers. This public one is Activetrades. It's Interbank-Server so it should go with 3 pips most of the time.
  • #60
  • May 5, 2011 12:42am May 5, 2011 12:42am
Usefull Link

FX brokers Live Spreads compared , helping you choose a broker, http://www.fxintel.com/live/
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