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Scalper

  • #501
  • Aug 22, 2013 5:15am Aug 22, 2013 5:15am
Quoting Freshpips
EJ Short @ 47. Risky due to the current bullish strength...

Closed @ 32 for +15 - price struggling to break 31/32
  • #502
  • Aug 22, 2013 5:16am Aug 22, 2013 5:16am
Quoting Freshpips
{quote} Closed @ 32 for +15 - price struggling to break 31/32

Spoke to soon...
  • #503
  • Aug 22, 2013 6:43am Aug 22, 2013 6:43am
Hello FX empire and other traders.

Have recently come across your thread, and found a the final piece to my puzzle.

I trade a similar system this, using similar indicators but in a slightly different way.

I am now trying adding MACD with your settings, and I must say, it is really complementing what I have. So thought I should thank you for sharing your system and your ideas.

Cheers
Ezzy
What you do is a reflection of you....what I do is a reflection of me.
  • #504
  • Aug 22, 2013 7:09am Aug 22, 2013 7:09am
Quoting FXEmpire
{quote} yes, its correct.

FXe
Thanks for the conformation, now lets go pip hunting.
Making money is easy,losing money is easier
  • #505
  • Aug 22, 2013 7:44am Aug 22, 2013 7:44am
Quoting Ezzy
Hello FX empire and other traders. Have recently come across your thread, and found a the final piece to my puzzle. I trade a similar system this, using similar indicators but in a slightly different way. I am now trying adding MACD with your settings, and I must say, it is really complementing what I have. So thought I should thank you for sharing your system and your ideas. Cheers Ezzy
glad to hear that brother.

best of luck
Passion, Persist, Patience, Protect
  • #506
  • Aug 22, 2013 7:59am Aug 22, 2013 7:59am
Been a fairly quiet day for me so far...

But at present we have GU EU and AU outside channel so could be given some entries soon...
  • #507
  • Aug 22, 2013 8:15am Aug 22, 2013 8:15am
GU short @ 94
  • #508
  • Aug 22, 2013 8:53am Aug 22, 2013 8:53am
Quoting Freshpips
GU short @ 94

Stopped for -10

Looking for next setup
  • #509
  • Aug 22, 2013 9:26am Aug 22, 2013 9:26am
Hey FXE and everyone else.... did anyone try this system on higher time frame to clear off the noise of smaller time frame
  • #510
  • Aug 22, 2013 9:28am Aug 22, 2013 9:28am
Quoting Freshpips
{quote} Stopped for -10 Looking for next setup
...did you get back in on the GU short?
  • #511
  • Aug 22, 2013 9:49am Aug 22, 2013 9:49am
Quoting sidefx
{quote} ...did you get back in on the GU short?

Yes I did get back in from 98 and took +20 @ 78. However it wasnt to do with this strategy and therefore I didnt post it...

Kicking myself for not holding the trade, but to be honest, there was a backtest of a descending trend line that could have turned price and a minor level of S/R @ 74/75 so it made sense to take what was available, especially off the back of a losing trade...
  • #512
  • Aug 22, 2013 6:19pm Aug 22, 2013 6:19pm
I am having a hard time taking trades going the opposite way of where price seems to be going at the moment,.
I have been back testing and seeing many signals not succeed, but I see there are some that do pay out?
I will continue to review the signals and results and in the meantime try some of these type of setups......
Attached Image (click to enlarge)
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  • #513
  • Aug 23, 2013 2:11am Aug 23, 2013 2:11am
Morning Guys
  • #514
  • Aug 23, 2013 2:58am Aug 23, 2013 2:58am
Quoting Freshpips
Morning Guys

Morning FP and everyone..
Passion, Persist, Patience, Protect
  • #515
  • Edited 4:00am Aug 23, 2013 3:41am | Edited 4:00am
Quoting N2FX
I am having a hard time taking trades going the opposite way of where price seems to be going at the moment,. I have been back testing and seeing many signals not succeed, but I see there are some that do pay out? I will continue to review the signals and results and in the meantime try some of these type of setups...... {image}
Hi N2.. this is exactly what you do in this method of scalping.. you go against the current move and try to take your piece from the more than often pullbacks and occasionally the full reversal move.. remember your trading short frame, its all noise. You will get at best a 50% win rate here.. its the AW (Art of the Work) that will make the difference for you. You take your shots and defend till you get one that plants the winner.. attack and defend till one surrenders. you defend for low avg loss to rebuttal the less than avg win rate. Your avg win/avg loss 2:1 is what will make the difference and not the high Win rate. In other words to say: "you'll relay on your skill than following a full technical system". You be the captain of the ship and not the system fully.
Its either this, or, you go try to find a system that consistently plants 90%+ win rate with a descent RR and hope that it's consistent throughout the years.

Basically if one can't cope with the reversal fact of this method and AW part.. then would not be successful here.. unless along the same path with a bit of twitching may find your own way of profitability.. but : "I will continue to review the signals and results and in the meantime try some of these type of setups......" .. I would need to ask you with all do respect to keep it out of this thread bcz it's totally some other method than presented and practiced in here, I thank you in advance for your understanding.


PS) This post is for everyone.
Passion, Persist, Patience, Protect
  • #516
  • Aug 23, 2013 5:13am Aug 23, 2013 5:13am
eu short..
Attached Image (click to enlarge)
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Passion, Persist, Patience, Protect
  • #517
  • Aug 23, 2013 5:55am Aug 23, 2013 5:55am
Is there any way to get an alert if the bands are breached top and bottom?
  • #518
  • Edited 6:21am Aug 23, 2013 6:01am | Edited 6:21am
Quoting FXEmpire
eu short.. {image}
I like your approach to managing trades, thank you for sharing what works for you. I took EJ short instead and before this took a GU short which netted -5.5
Attached Image (click to enlarge)
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  • #519
  • Aug 23, 2013 6:13am Aug 23, 2013 6:13am
Quoting handy148
Is there any way to get an alert if the bands are breached top and bottom?
hi.. it's is possible to have such a tool if it wasn't for the zoom factor of mt4charts. So it has to be replaced with some other tools such as maybe ma's with levels or etc,.
I never pursued any type of servicing ea's for scalping bcz i believe one need to be extremely hands on, otherwise move to longer term trading.
Passion, Persist, Patience, Protect
  • #520
  • Edited 6:28am Aug 23, 2013 6:16am | Edited 6:28am
Quoting sidefx
{quote} I like your approach to managing trades, thank you for sharing what works for you. I took EJ short instead and before this took a GU short which netted -9.5. {image}

Thanks..
Considering filter setup, ej would have been a no signal, but gu was a perfect signal, kicking myself for missing it, nice 40pips dropper.
Passion, Persist, Patience, Protect
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