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  • #6,441
  • Aug 2, 2012 4:10pm Aug 2, 2012 4:10pm
Quoting Rag2RichesFX
I use this exact strategy and people laugh at me for it.

I just laugh my way all the way to the bank

I use 1 pip, 3 pip and 5 pip stop losses for scalping. 25 pip stop loss when I am 90% sure of success.

If I nail the high, I make 50-100 pips, if not, I lose absolutely minuscule amounts and try shorting again on another spike into resistance.
How many times will eurusd spike to almost exactly 1.24 and pay you guys a fortune in return?! Well done to anyone with the balls to just get on and trade this way, I think it's a great idea.
  • #6,442
  • Aug 2, 2012 5:38pm Aug 2, 2012 5:38pm
Quoting Hugh Briss
How many times will eurusd spike to almost exactly 1.24 and pay you guys a fortune in return?! Well done to anyone with the balls to just get on and trade this way, I think it's a great idea.

Eur/usd came to us from as far as the stellar distances of 1.60. Many of us have already noticed that, in this game, everything is chaos and random. On another note, it doesn't have to go up, if it wants to go down, I'll be holding its hand.
Invest in alarm clocks
  • #6,443
  • Aug 2, 2012 6:48pm Aug 2, 2012 6:48pm
Quoting sohel0402034
thank u tony for ur response.but how u can predict market will move 400 pips in ur favor. How u use take profit option when u aim for 400 pips?
He basically has the mentality of do or die.

Either 400 tp or nothing!
Whether you can or you can't, you are both right.
  • #6,444
  • Aug 2, 2012 7:40pm Aug 2, 2012 7:40pm
Quoting Rag2RichesFX
I use this exact strategy and people laugh at me for it.

I just laugh my way all the way to the bank

I use 1 pip, 3 pip and 5 pip stop losses for scalping. 25 pip stop loss when I am 90% sure of success.

If I nail the high, I make 50-100 pips, if not, I lose absolutely minuscule amounts and try shorting again on another spike into resistance.

Hi Rags. Any chance you can expand on your method of trading spikes? You seem to be trading a bit different than this. I tried trading spikes some time ago, but i was adding to losses which eventually blew up the accounts. PM me if you like. thnx in advance, JJ
  • #6,445
  • Aug 2, 2012 8:00pm Aug 2, 2012 8:00pm
Quoting Rag2RichesFX
I use this exact strategy and people laugh at me for it.

I just laugh my way all the way to the bank

I use 1 pip, 3 pip and 5 pip stop losses for scalping. 25 pip stop loss when I am 90% sure of success.

If I nail the high, I make 50-100 pips, if not, I lose absolutely minuscule amounts and try shorting again on another spike into resistance.

Mr rag could you explain with us about your methode?because i don't understand
what is your methode use trade bank?when is the best time for your methode?

thank's sir
  • #6,446
  • Aug 2, 2012 9:56pm Aug 2, 2012 9:56pm
Hey Tony!
I have question, what's the time period you allow for price to make move?
E.g. if after 2mins price is still not going anywhere do you still wait for a move or wait for the next session?

Thus how long is the time period you would allow for it to make a move?

thanks.
Whether you can or you can't, you are both right.
  • #6,447
  • Aug 2, 2012 11:57pm Aug 2, 2012 11:57pm
Quoting fartist
Hey Tony!
I have question, what's the time period you allow for price to make move?
E.g. if after 2mins price is still not going anywhere do you still wait for a move or wait for the next session?

Thus how long is the time period you would allow for it to make a move?

thanks.
2 minutes could reflect really low volatility and this would usually happen on holidays or when banks are closed. It's very rare it would last that long before moving at least 2 pips. If it's not a holiday, I would still trade it even if it took 2 minutes to move because it would still mean that the market might have chosen a direction to go. If it fails, too bad, refund, drink a tall glass of cold water and go on with your daily activities.
Invest in alarm clocks
  • #6,448
  • Aug 3, 2012 12:13am Aug 3, 2012 12:13am
Ok thank you!
Whether you can or you can't, you are both right.
  • #6,449
  • Edited 12:39am Aug 3, 2012 12:15am | Edited 12:39am
Quoting JumpJack
Hi Rags. Any chance you can expand on your method of trading spikes? You seem to be trading a bit different than this. I tried trading spikes some time ago, but i was adding to losses which eventually blew up the accounts. PM me if you like. thnx in advance, JJ

I only read the image uploaded on the first page. About using very tight stops (2-5 pips) and trying to get the watermark highs of a swing move (even if its just a 10 pip swing).

I personally do this into bollinger bands, EMAs, fibs, especially when prices surges into this point.

Basically fading rallies and dips when there is enough support to warrant it. I wish I could explain it better than that. Look at my uploaded charts you will see some smaller time frames with scalps.
Be hopeful in a winning position, and fearful in a losing position.
  • #6,450
  • Aug 3, 2012 7:22am Aug 3, 2012 7:22am
In for a 10 so far. Anyone else ?
  • #6,451
  • Aug 3, 2012 7:38am Aug 3, 2012 7:38am
Quoting quicksliver
In for a 10 so far. Anyone else ?
Out for -1 ...
  • #6,452
  • Aug 3, 2012 7:29pm Aug 3, 2012 7:29pm
Hello Everyone

could you tell me how to use the strategy with Fxsol metatrader
If its not boring .. you are not trading correctly
  • #6,453
  • Aug 5, 2012 4:21pm Aug 5, 2012 4:21pm
Hey everyone -

Back in December and January, I was actively involved with this thread, but had to stop using the system due to an adjustment in my schedule and responsibilities at work, but I have always believed in the system and its potential.

Normally, I am against using EA's inside MT, as I feel MT is a flaky, unreliable piece of software, but since I cannot trade this system manually at this time, I am interested in using the EA to place the trades for me.

Does anyone know where the current EA is posted?
  • #6,454
  • Aug 6, 2012 12:12am Aug 6, 2012 12:12am
Hi,

Would like to confirm. If spread is 1.1p (which is oanda's spread now), our SL will be 3.1p, and gradually moved up to +1.1 level if trade allows.

Is that right?
  • #6,455
  • Aug 6, 2012 1:31am Aug 6, 2012 1:31am
Quoting junki88
Hi,

Would like to confirm. If spread is 1.1p (which is oanda's spread now), our SL will be 3.1p, and gradually moved up to +1.1 level if trade allows.

Is that right?
Stop loss is 2pips including the spread.
  • #6,456
  • Aug 6, 2012 1:35am Aug 6, 2012 1:35am
Quoting SmartGXL
Does anyone know where the current EA is posted?
I've tested jrodatus's EA which is found here, and Zen Leow's EA which is found here. jrodatus's EA once took at trade at 8am and then another trade at 8:30; also one time it did not close a trade at -2 pips. Zen Leow's EA has run perfectly over the last 2 months of testing.
  • #6,457
  • Aug 6, 2012 2:31am Aug 6, 2012 2:31am
LO in for 6 and falling....

Looks like 1st support is about 40 away, will it reach before breaking the bank ?
  • #6,458
  • Aug 6, 2012 2:38am Aug 6, 2012 2:38am
wouldn't you have gotten kicked out at BE?
  • #6,459
  • Aug 6, 2012 2:44am Aug 6, 2012 2:44am
Quoting deathbait
wouldn't you have gotten kicked out at BE?
Why do you say that ? Open = High if I'm not mistaken.
  • #6,460
  • Aug 6, 2012 3:19am Aug 6, 2012 3:19am
hmm

according to my 15 min charts, price went back up to test the open, meaning open-2(BE) should have got taken out
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