Scalping with Johnny2pips

no good don't try it...

This is a trade from yesterday. Sorry no trading today decided to sleep in.

http://i1083.photobucket.com/albums/...ing_System.png

Edit: Why is the photo so small? Anyways click it to see a visual explanation of my thought process before a trade.

Here is my first trade of the week. As you may have noticed B Bands have been removed, in it's place are 1H range/trend lines also notice the vertical lines defining the Asian session. I'm learning a confirmation method that allows us to use the range of Asian session to confirm the buy/sell direction of the day. As you can see in the chart yesterday was mostly ranged. At the beginning of Tokyo broke NY's range , almost immediately after price shot down. Thanks for checking in and have a great trading day.

6:20AM

http://i1083.photobucket.com/albums/...12-27_0626.png
Sorry for the typo's

8:20 Update:
Price went through the major support line after a little temper mental testing (lol) . Now we're sitting a little above the -.382 daily fib for +14 pips.
http://i1083.photobucket.com/albums/...-27_0626-1.png

Price is retracing from 0.83330. Might get stopped out for a small gain. Going back a few days that chart level was a major support and resistance level throughout last week. It also happens to be -.382 daily fib to so we'll see what happens. Either way I'd call this a successful trade.

Last edit:
Trade closed +8 or so pips

Found a great indicator posted by shroomhead Double CCI with 0 cross alert! Now there's no need to have heiken ashi smoothed. Only reason I used it was for the alert. We'll switch that out for Heiken Ashi Exit which is slower and filters a lot of the noise. The chart setup has been changed to the following.

Heiken Ashi Exit (Much better then HA smoothed)
Spud Fibbo - auto draws fibs from yesterdays/today's high/low
Double CCI allert - alerts when CCI 170 or 34 crosses 0.
RSI (8)

Glad to have the charts slimmed down a bit. Soon I'll post the indicators and template to post #1. For now everyone have a wonderful holiday.

Opened a trade explorer account here at forex factory not sure if there is a share link maybe you can access it via my profile. Will try to figure it out. Looking forward to trading tomorrow ended up missing a lot of good trades today but it was worth it to spend time with the family.

Wishing you all a profitable 2012

Here is a great example of why we use auto fibs. Don't expect this to always happen. In this case though each level provided good support.

http://i1083.photobucket.com/albums/...exautofibs.png

I normally don't trade after 12pm EST. Testing this setup was to tempting . While browsing other scalping threads it was said the 200 level can indicate a reversal back into the main trend. In this case the main trend is down. We'll see if price decides to return to the downside. If not no big deal that's the price to testing theories.

http://i1083.photobucket.com/albums/...01-03_1423.png

After forever of sideways movement I set a TP for 1.5 pips and it was hit! This was such a bad example because price was already at the bottom of a range that had been tested 2 or 3 times before. Anyways glad it didn't get stopped out. Sending money over to paypal for a deposit. Hopefully will be able to do that each month.

How's everyone's January trading so far?

Hi everyone I want to take a moment to thank Danny from forexfactory trade explorer help. He had saw my previous comment about not being sure how to link to my explorer and explained it clearly. From now on there will be a link in my sig if you want to check and see how I'm doing.

It's been slow going these last few trades haven't gone to well with that said all were positive so nothing has gone majorly wrong. Thanks for checking my trading journal and don't be afraid to ask questions and/or post advise general talk ect. Happy trading!

Explorer link http://www.forexfactory.com/johnny2pips/79

Made a huge mistake today placed a trade forgot it was there started playing words with friends and ended up in the negative for 27 pips. Note to self don't play apps while in a trade.

http://i1083.photobucket.com/albums/...01-04_0954.png

Another stop taken out I'm done for the day.

Slimmed down the charts yet again. As you can see scalping did not work out so well. Even if I want to be impatient that sort of trading isn't going to be profitable in the long run imho. If anyone thinks it'll be better to start a new journal I will but for now posting here is fine.

The new system

236 CCI - This is based on harmonics and Fibonacci
Heiken Ashi Smoothed (HAS)

HAS settings as follows:
MaMetod - 1
MaPeriod - 40
MaMetod2 -1
MaPeriod2 -1
Pop up Box Alert - True
Sound Alert - False
For whatever reason the sound alert only works when false is ticked. The alert options are really up to you so do what you want.

Where did I come up with these settings it is a exact duplicate of the Heiken Ashi Exit indicator. (wanted alert)

Trading

15M to 1H charts only taking trade when HAS and 236 CCI agree.

Example

Buy signal:

CCI is green, HAS turns green, enter trade at candle close.

Sell signal:
CCI is red, HAS turns red, enter trade at candle close.

If the trend is already established
So you open up MT4 and all the charts have established trends on the 30M or 1H charts. Oh no it's the end of the world j/k. Switch down to the 15M chart and look for a signal to follow the trend. For example 1H chart CCI and HAS are red, we switch down to 15M and wait for HAS to turn green then back to red now we enter. Make sense?

Taking profits and stops
I'll be manually trailing the stop and taking profit at 30-50 pips unless price shows weakness/strength.

If you want the new system indicators and template are available below. The only reason I use double CCI is because I like the way this one looks that's all. You could use a normal CCI and get the same results. Either way the template is attached.


Example Trade
http://i1083.photobucket.com/albums/...01-05_1936.png


This is about as simple as it gets we'll see how it goes from here on out.

Peace

Just had a nice small profitable trade. Made one mistake it was lowering the stop to +5 pips a little to soon because of how jumpy price action was. That said the trade was at +15 or 20 pips then I set the stop for +5 and the bam stopped out for profit. This all happened in one 5 min bar lol talk about easy profits. The good thing is I'm up 0.9% only another 5% and I'll be back to where I was before the 40 pip scalping loss.

I'm happy, the market is happy, everyone's happy.

http://i1083.photobucket.com/albums/...-05_1936-1.png

Reentered on the same pair at new 1H candle. Below is a 5M view of what went on. I probably could have let the bears take it further down. Well heck 20.5 pips in 15 or so minutes is good enough to bring today's return to +4.4%
http://i1083.photobucket.com/albums/...2132123123.png

Really wouldn't mind seeing these 40 pip M's every day.
http://i1083.photobucket.com/albums/...2pips/MMMM.png

One last trade not worth posting a pic of. Sold at the top again then sellers really stopped moving price around +15-20 pips then one huge bar up stopped out for +1 pip. Done for the week. Have a great weekend and I'll be back next week.

good work so far. i like the simplicity of the new system. you reenter on continuation of trend once HAS retraces and Double CCI are in same direction?