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Box Scalping

  • #181
  • Edited 3:44am Aug 17, 2011 3:30am | Edited 3:44am
EURUSD, M1, 2011 August 17

Some traders here don't know where to find the right entry point. Maybe CCI(14) could be a help for you by switching
between M1 and M5.

Then you could also trade some M1 divergences like in the frame below.

It's absolutely equal if the market price would go more down (e.g. till mS1 1.4368). If you scalp the forex market you will make some points here and some points there.

I tend to trade more this kind of scalping stlyle:
The first thing to do when scalping the forex market is... Wait! Do not trade every market situation which seems to have a higher probability of success. Choose only these ones with the highest probabilities of a profit return and go in with higher lot sizes.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD, M1, 2011 August 17, with CCI.jpg Size: 109 KB
  • #182
  • Aug 17, 2011 9:43am Aug 17, 2011 9:43am
Quoting Forexcube
EURUSD, M1, 2011 August 17

Some traders here don't know where to find the right entry point. Maybe CCI(14) could be a help for you by switching
between M1 and M5.

Then you could also trade some M1 divergences like in the frame below.

It's absolutely equal if the market price would go more down (e.g. till mS1 1.4368). If you scalp the forex market you will make some points here and some points there.

I tend to trade more this kind of scalping stlyle:
[i]The first thing to do when scalping the forex market is... Wait! Do not trade...
very good strategy - very powerful thank u
Aut cum scuto, aut in scuto
  • #183
  • Aug 17, 2011 12:33pm Aug 17, 2011 12:33pm
Thanks for the great method ForexCube =)

Missed 2 trades with this otherwise I would have had over 30 pips for the day but caught one quicky. Went long on the Euro around 31 and took out at 40. There was a support level below that got hit for the 3rd time with a pinbar and my entry was at the Break of a small trendline with the candle closing over the grid line.

I think with patience only taking trades with easy to see support or resistance areas combined with some trendlines may work out to be profitable. Cheers for sharing your knowledge FC, God bless you.
Attached Image (click to enlarge)
Click to Enlarge Name: boxscalp_eulong.gif Size: 13 KB
  • #184
  • Aug 17, 2011 12:40pm Aug 17, 2011 12:40pm
my stop was near a recent low, around 24. So i used a stop less then 10 pips as I saw fit. Not bad.
  • #185
  • Aug 17, 2011 12:47pm Aug 17, 2011 12:47pm
Another one...Price made a pinbar on a support area with the end of the Pinbar on the black Grid Line, the 2nd candle closed over my blue box drawn by my Support/Res indy which is a buy signal for me, and the CCI 14 being oversold, looks good for a quick buy. Good for a quick 8 pips.

Heres the chart.
Attached Image (click to enlarge)
Click to Enlarge Name: boxscalp_eulong2.gif Size: 18 KB
  • #186
  • Aug 17, 2011 2:26pm Aug 17, 2011 2:26pm
Quoting WilteredFire
Thanks for the great method ForexCube =)
...
I think with patience only taking trades with easy to see support or resistance areas combined with some trendlines may work out to be profitable. Cheers for sharing your knowledge FC, God bless you.


Hi WilteredFire!
I hope you will give more examples.

Your example is great.
Congratulation!

You're wellcome!
FXcube
  • #187
  • Aug 17, 2011 2:29pm Aug 17, 2011 2:29pm
Quoting FerruFx
FXcube,

Looks very interesting ... How do you place the boxes ? In other words, do you have rules (other than visual) ?

Thanks,
FerruFx
Hey FerruFX,

First of all thank you for all your great work on this wonderful forum.
I need a little help to code an indicator into a EA (which i and my friends have tried to program more than thrice and failed! I think this must be a piece of cake for you though!)
When we tried to convert the indicator into EA it produced very strange results compared to the indicator (i.e.Working of the indicator changed mysteriously and produced different signals other than the normal indicator.)
We want the EA to follow the rules mentioned below :
1. Should take the trades based only on the 1Hr timeframe .
2. The trade should be opened only, after the closing of the current candle(signal candle/ arrow candle) at the opening of the next candle(To avoid false signals).
3. Lot size - to be determined by the trader in the inputs in settings dialog box.
3. Stoploss - 50 pips
4. Target price set to 50 pips should increase by 50 after every 50 pips achieved.
5. Trade Exit Criteria - (i)If opposite direction signal occurs close trade after closing of the current signal candle and opening of the new candle(To avoid false signals).
(ii)Trailing stoploss 30 pips or 50 pips, whichever is suitable.
6. Max open positions = 2.
Please take care that the indicator's working and code is not altered so that it does not affect the performance.
If you have any doubts please feel free to let me know or contact me - [email protected].
I have attached the indicator below
Thanking you in advance.

Regards,
Shreyash
Attached File(s)
File Type: ex4 Scalper.ex4   7 KB | 738 downloads
  • #188
  • Aug 17, 2011 3:42pm Aug 17, 2011 3:42pm
No probs FC, Cudn't resist another trade, took the euro short around 53 when I got a pinbar just out of my resistance area, marked the entry with a vertical line....Just took profit at around 31 right now...

Im done and very happy for the day. I will hunt patiently for more opportunitys tomorrow.

Thanks again
Attached Image (click to enlarge)
Click to Enlarge Name: boxscalp_eulong3.gif Size: 14 KB
  • #189
  • Edited 5:31pm Aug 18, 2011 5:08pm | Edited 5:31pm
EURUSD, M5, 2011 August 19
Trade Example
Box Scalping with CCI & the Pivotals

Often you can see that the market price will go ~10/20 pips over the Pivotal Point.
Often it's better to set the "Fulfilled Box" above the Pivotal and the Stop Loss de novo higher.

Experienced Traders don't wait sometimes to the Trailing Stop and go out of the market before the Trailing Stop could be triggered., (e.g. at DS1 1.4329) and take some pips more along (+11 Pips, Total: +81 Pips).
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD, M5, 2011 August 19, Trade Example.jpg Size: 253 KB
  • #190
  • Edited 6:29pm Aug 18, 2011 5:34pm | Edited 6:29pm
Quoting shreyash
Hey FerruFX,

First of all thank you for all your great work on this wonderful forum.
I need a little help to code an indicator into a EA (which i and my friends have tried to program more than thrice and failed! I think this must be a piece of cake for you though!)
When we tried to convert the indicator into EA it produced very strange results compared to the indicator (i.e.Working of the indicator changed mysteriously and produced different signals other than the normal indicator.)
We want the EA to follow the rules mentioned below :
1....

Hi Shreyash
"Box Swinging" or "Box Trading" at H1,... why not? If so there could be trade all currency pairs. The spread wouldn't be so important any longer. Thank you for this work! Shreyash, could it be a possibility for you to upload the *.mq4 format so that everybody could read the code. Any *.ex4-files could be potentially dangerous.
Thank's
FXcube
  • #191
  • Aug 18, 2011 6:39pm Aug 18, 2011 6:39pm
Quoting WilteredFire
No probs FC, Cudn't resist another trade, took the euro short around 53 when I got a pinbar just out of my resistance area, marked the entry with a vertical line....Just took profit at around 31 right now...

Im done and very happy for the day. I will hunt patiently for more opportunitys tomorrow.

Thanks again
Hi WilteredFire
I have make a link to your examples at p.1, #1 "Trade Examples".
Hope it's okay for you!
Best wishes!
FXcube
  • #192
  • Aug 19, 2011 3:18am Aug 19, 2011 3:18am
Quoting Forexcube
Hi Shreyash
"Box Swinging" or "Box Trading" at H1,... why not? If so there could be trade all currency pairs. The spread wouldn't be so important any longer. Thank you for this work! Shreyash, could it be a possibility for you to upload the *.mq4 format so that everybody could read the code. Any *.ex4-files could be potentially dangerous.
Thank's
FXcube
Hey FXcube,

Sry, i do not have the .mq4 file.
you can convert it into mq4 if you have a decompiler / converter.
Please help in converting the indicator into an EA as it would be very profitable as the signals generated are more than 95% accurate.

Regards,
Shreyash
  • #193
  • Aug 19, 2011 4:43am Aug 19, 2011 4:43am
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting shreyash
... it would be very profitable as the signals generated are more than 95% accurate ...
FYI, the signal is plotted 3 bars back ... so your entries will be 3 bars too late.

FerruFx
MT4/MT5 EAs/Indicators/Alerts coder
  • #194
  • Aug 19, 2011 10:08am Aug 19, 2011 10:08am
Quoting shreyash
Hey FXcube,

Sry, i do not have the .mq4 file.
you can convert it into mq4 if you have a decompiler / converter.
Please help in converting the indicator into an EA as it would be very profitable as the signals generated are more than 95% accurate.

Regards,
Shreyash
Hi Shreyash
I don't have a decompiler due to the fact that most of these don't decompile exactly. The other topic is more a security question. Why download a *.ex4-file where you nothing knows about the code. When I would decompile it I have to put the *.ex4-file on my hardisc and it's exactly what I won't!
(Excursus: No EA is 95% accurate and most of these EAs are bringing a loss and not a profit in life trading).
Maybe you have make an excellent work! I don't know! I hope so!
Best regards
FXcube
  • #195
  • Aug 19, 2011 1:13pm Aug 19, 2011 1:13pm
Quoting FerruFx
FYI, the signal is plotted 3 bars back ... so your entries will be 3 bars too late.

FerruFx
Dear Ferrufx,

Do you mean to say it plots the signal at the third candle?
If so, What kind of indicator is this? What strategy does it follow?
Please add a sound alert to the indicator without changing its performance, so that i can test it.
Whats your view on this indicator? Can it at least be used for scalping?

Regards,
Shreyash
  • #196
  • Aug 19, 2011 1:53pm Aug 19, 2011 1:53pm
hi fxcube

Ive been getting good results with your scalping strategy but i wanted to know what is a good money management risk ratio when your are scalping this way thanks.
  • #197
  • Edited 7:49pm Aug 19, 2011 7:46pm | Edited 7:49pm
Quoting Forexcube
If some interested traders search a Trailing Stop may be the following links could help.

Links:

http://www.google.ch/search?q=traili...=hp&channel=np

Kindest regards
FXcube
Hi FC !

I am looking for a "catch me if you can " Trailing Stop EA
To explain better: a "aggressive" TS in "fast" movements.
 the stop price is not using a fixed amount (5~15 pips TS ),
but always at low (or high) of the last candle sets.
The rule for the TP price after the open order (sell/buy) are secondary for me.

Some mates of mine from Romania experiences on this.
What I found out from them: is based more on price action & THV4.
Their rule is: Do not be afraid to lose 3 ~ 5 orders (max2~4 pips SL) until you catch the wave !
Of course they are not gamblers ,and are patient with the entry.

P.S.-By the way, your article is very interesting.
-I never thought it could be so ... "traumatic"..after !

Greetings for Zürich !
Bfree
  • #198
  • Edited 11:07am Aug 20, 2011 10:53am | Edited 11:07am
Quoting Forexcube
The Best Forex Brokers for Scalping

This article is part of our guide on how to use scalping techniques to trade forex.
http://www.forextraders.com/forex-st...-scalping.html
Hello everyone!
ForexCube thanks for the tip
I created a PDF from a article.
source here:
http://www.forextraders.com/forex-st...-scalping.html
Of course all credit to who wrote the article
Attached File(s)
File Type: pdf Extensive Guide on How to Scalp Forex-web&print vers.by bfree(GeorgiaStyle).pdf   558 KB | 19,208 downloads
  • #199
  • Aug 20, 2011 12:27pm Aug 20, 2011 12:27pm
Quoting JackintheBox
It's nice of you to show that all BUT the problem still remains (and that could be the rating only 4 stars): WHERE do you draw the boxes ?

Of course there "possible" turning points but there are moves where market fakes a lot (like last week sometimes).


Jack
It's always a problem to "predict" turining points. so why not go for a more solid amount of EVIDENCE that a turning point is PAST, and then go with the new ESTABLISHED trend.

DrDave
Attached Image
Attached File(s)
File Type: pdf BoxEx-01.pdf   185 KB | 822 downloads
To free Gazans of Hamas, use whatever it takes.
  • #200
  • Aug 20, 2011 12:38pm Aug 20, 2011 12:38pm
Quoting JackintheBox
Look at the chart then you see what I mean
Made a little mistake: not -10 pips on the first 3 positions but -5 to -6 pips. Anyway I think the problem I mentioned is clear .
Jackinthebox,

On your picture you posted, I have to ask why were you trying to buy when it was a clear down trend? There was no evidence that the market was in an uptrend. If you were just guessing that maybe some consecutive bars with higher lows was a possible turning point, then I think you need some more practice and/or some different method for determining what direction you are going to try to trade.

DrDave
To free Gazans of Hamas, use whatever it takes.
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