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5m scalp system

  • #61
  • May 18, 2011 4:39pm May 18, 2011 4:39pm
hey xaphod

still working on the ea?
Poshcom
  • #62
  • May 18, 2011 10:30pm May 18, 2011 10:30pm
Quoting FelixFX
still working on the ea?
Not really. The EA can currently be set to trade according to the rules set in the first post and the results are not encouraging. Many trading systems cannot be made mechanical as there is too much left to the traders discretion. So while this method may work well manually, preliminary results of the EA seem to indicate that there are some undefined rules which may be difficult to include in the EA.
  • #63
  • May 19, 2011 3:23am May 19, 2011 3:23am
Hi,
I like your system but i dont know anything about it if you trade it can you tell:

Whats the averager reward/risk ratio for trades you takie ? ( i assume 1:1 )
Whats the win/loss percentage ?
How many trades per day, per week ?
How many losses in a row do you have ?
Whats the weekly percentage you can make on your system ?


If you answer these questions and post your result it will save month of testing this technique - thank you.
  • #64
  • May 19, 2011 6:12pm May 19, 2011 6:12pm
This looks like what you want

http://www.forexfactory.com/showthread.php?t=281772

Quoting 0002097
A little bit "off-topic", does anyone knows about a reliable EA where you drag and drop lines on your charts and automatically place my pending orders, stoploss and take profit, and of course, make all my lot size calculations based on a % of my equity???

That would be awesome!
  • #65
  • May 19, 2011 9:25pm May 19, 2011 9:25pm
Quoting Xaphod
Not really. The EA can currently be set to trade according to the rules set in the first post and the results are not encouraging. Many trading systems cannot be made mechanical as there is too much left to the traders discretion. So while this method may work well manually, preliminary results of the EA seem to indicate that there are some undefined rules which may be difficult to include in the EA.
Have you tried to reverse the EA?
  • #66
  • May 20, 2011 3:45am May 20, 2011 3:45am
Quoting wickedwin
Have you tried to reverse the EA?
If only it was that easy. It gives non-positive results either way.
  • #67
  • May 20, 2011 8:52am May 20, 2011 8:52am
Quoting 0002097
Here's a typical trading day using this system. Each trade correspond to 2% of my account.
Is there an audio alert when PWR changes color (sides)?

TS
Haste not to Enter AND Haste not to Exit !-TradeStar
  • #68
  • May 20, 2011 2:11pm May 20, 2011 2:11pm
This system has been profitable for me this week. i have been averaging 6% per day with it. It has to really fit your style though. You have to be ready to lose a lot of trades and be able to handle a few losses in a row.

The script that I mentioned earlier is a HUGE help in placing these orders. It places the orders with horizontal lines and also calculates your lot size based on percent, both of the things you really need for this to work.
  • #69
  • May 21, 2011 3:11pm May 21, 2011 3:11pm
Quoting lizu
Hi,
I like your system but i dont know anything about it if you trade it can you tell:

Whats the averager reward/risk ratio for trades you takie ? ( i assume 1:1 )
Whats the win/loss percentage ?
How many trades per day, per week ?
How many losses in a row do you have ?
Whats the weekly percentage you can make on your system ?


If you answer these questions and post your result it will save month of testing this technique - thank you.
1. 1:1
2. Something around 60, 70%
3. 10, 20 trades a day
4. 5, 6 on a very bad day...
5. Daily 6% average

My personal results, I don't trade every signal or every day, I can't, college and stuff... The results I present you are from the days I trade.

Quoting cmac0351
This looks like what you want

http://www.forexfactory.com/showthread.php?t=281772
Thanks!

Quoting TradeStar
Is there an audio alert when PWR changes color (sides)?

TS

Not there I'm aware off, at least for now

Quoting cmac0351
This system has been profitable for me this week. i have been averaging 6% per day with it. It has to really fit your style though. You have to be ready to lose a lot of trades and be able to handle a few losses in a row.

The script that I mentioned earlier is a HUGE help in placing these orders. It places the orders with horizontal lines and also calculates your lot size based on percent, both of the things you really need for this to work.
Glad to ear it! Thanks again for the script, you rocked my world!
  • #70
  • May 21, 2011 3:24pm May 21, 2011 3:24pm
Here are the last week results.

Monday. 9w, 6l
Tuesday. 7w, 6l
Wednesday. 7w, 7l
Thursday. 4w, 5l
Friday. 8w, 4l
  • #71
  • May 23, 2011 4:45am May 23, 2011 4:45am
Good morning today, +8%.
Done for today...
  • #72
  • May 23, 2011 5:48am May 23, 2011 5:48am
Could you post your chart please? I am 3 wins 2 losses so far.

Quoting 0002097
Good morning today, +8%.
Done for today...
  • #73
  • May 23, 2011 1:23pm May 23, 2011 1:23pm
Messy day today...
Attached Image (click to enlarge)
Click to Enlarge Name: 23 may.gif Size: 29 KB
  • #74
  • May 24, 2011 1:22pm May 24, 2011 1:22pm
002097:

I was wondering if you could go through this chart and explain why you take which signals. It seems it's more than just not taking a second signal til target or stop is hit.

Thought if you went through it, it would clear it up for everyone.

Green bars are those < 15 pip range with HH & HL
Red bars are those < 15 pip range with LH & LL
Attached Image (click to enlarge)
Click to Enlarge Name: 24may5mscalp.jpg Size: 105 KB
  • #75
  • May 24, 2011 2:31pm May 24, 2011 2:31pm
Quoting TraderHotch
002097:

I was wondering if you could go through this chart and explain why you take which signals. It seems it's more than just not taking a second signal til target or stop is hit.

Thought if you went through it, it would clear it up for everyone.

Green bars are those < 15 pip range with HH & HL
Red bars are those < 15 pip range with LH & LL

Hi, here are my trades today. All the signals, triggered and non triggered. Remember the 3 candles rule.

In the first chart, on the second signal, a BUY, resulted in a loss. (it's not properly marked...)

There's a trade where I took the profit earlier, it would miss tp by less than one pip, but I got nervous and took my profit. (this trade is marked by a red box)
So, if following the rules the results should be 5 losses and 8 wins, in my case I got one more win (less one pip or so...)

I hope the charts are clear, if you have any question, please don't hesitate to ask.

Can you share your indicator? That would be nice.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 24 may1.gif Size: 24 KB
Click to Enlarge Name: 24 may2.gif Size: 25 KB
Click to Enlarge Name: 24 may3.gif Size: 23 KB
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  • #76
  • May 24, 2011 5:11pm May 24, 2011 5:11pm
Based on your rules I build an EA wich follows your strategy.
Please compare the results on a demo account with the trades you'll take on your live account.

Be careful, he trades automatically and will kill your money..

Please report every differences to your strategy.
Attached File(s)
File Type: ex4 5MScalper.ex4   8 KB | 442 downloads
  • #77
  • May 25, 2011 1:09pm May 25, 2011 1:09pm
All I seem to come up with, is that you don't take an entry if you're already in a trade (and maybe if you have a pending). I don't think that's right though.

Indi's are just adjusted from an IB indi I picked up here, need to adjust for 4 digit brokers but that's simple enough.
Attached Image (click to enlarge)
Click to Enlarge Name: understanding.jpg Size: 126 KB
Attached File(s)
File Type: mq4 LH LL.mq4   5 KB | 795 downloads
File Type: mq4 HH HL.mq4   5 KB | 809 downloads
  • #78
  • Edited 5:40am May 26, 2011 4:36am | Edited 5:40am
Quoting 0002097
Here are the last week results.

Monday. 9w, 6l
Tuesday. 7w, 6l
Wednesday. 7w, 7l
Thursday. 4w, 5l
Friday. 8w, 4l
can you post all your results ? from 5mounts ? whats your maximum draw down
  • #79
  • Edited 5:41am May 26, 2011 5:09am | Edited 5:41am
Do you have any other exit strategies besides hit TP or initial SL. Do you trail stop or if you see candle closed against your position do you close ?

DO you watch flow of the market e.g if this is 3rd candle against its correction 5candles in a trend direction so if signal is on 5th you dont enter something like that ?
  • #80
  • May 30, 2011 2:00am May 30, 2011 2:00am
I went through the whole thread and i found answers for my questions. I tested your strategy and i see that you dont enter on every signal. I tried to find the answer in previous posts but i still dont get it. You are missing a lot of signals. Can you explain why ?

I include pic with shows the difference
Attached Image (click to enlarge)
Click to Enlarge Name: Picture 6.png Size: 91 KB
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