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The Great 05 Level Scalping System

  • #21
  • Apr 1, 2015 2:40pm Apr 1, 2015 2:40pm
I like your system for a number of reasons

I have been working on something very similar, with a few "tweaks" here and there.

(I use your rules, I trade from the one minute chart, but I trade the break of high or low of the 15 minute candle)

If you thought it appropriate I can post a chart with my "tweaks"

Good on you for starting a thread.

PGPB
  • #22
  • Apr 1, 2015 3:17pm Apr 1, 2015 3:17pm
RoneyFX,
thanks for you answer.
I have one more question, in the attached chart - how do you deal with these sideways conditions. Are these trades valid? They are made on the same level, but after color change.

I liked the breakeven idea after reaching 50p, but made quick backtest of this week for E/U and the breakeven approach saved me 6 loses, but stole me 7 wins. So witch 2:1 w/l ratio its heavily disadvantageous. Did your long-term backest prove the oppsite?
Attached Image (click to enlarge)
Click to Enlarge Name: Výstřižek.JPG Size: 50 KB
  • #23
  • Apr 1, 2015 3:50pm Apr 1, 2015 3:50pm
I just have a question, too.

In the attached sreenshot we see a nice down move!
Regarding to the systems rules, can we enter short positions if only the 60min "price to open" indicator shows the downward momentum?
Because in this case the daily "price to open" indi changed color on the very end to this move and served us with a nice loser.

Attached Image (click to enlarge)
Click to Enlarge Name: 2015-04-01_2247.png Size: 25 KB
  • #24
  • Edited 5:06pm Apr 1, 2015 3:56pm | Edited 5:06pm
Quoting colombino
RoneyFX, thanks for you answer. I have one more question, in the attached chart - how do you deal with these sideways conditions. Are these trades valid? They are made on the same level, but after color change. I liked the breakeven idea after reaching 50p, but made quick backtest of this week for E/U and the breakeven approach saved me 6 loses, but stole me 7 wins. So witch 2:1 w/l ratio its heavily disadvantageous. Did your long-term backest prove the oppsite? {image}

If you add in my (suggested) rule of taking the break of a 15 minute candle (hi or low) (purple bars) this (I think) will keep you out of choppy price action. I also add it (hi and low) of one hour bars, and I only take one trade per hour

See attached chart

PGPB
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot (71).png Size: 130 KB
  • #25
  • Apr 1, 2015 4:13pm Apr 1, 2015 4:13pm
just updated Post 8
  • #26
  • Apr 1, 2015 4:24pm Apr 1, 2015 4:24pm
pgpb - I would like it please. I tried changing the code and compiling but it didn't work for me.
  • #27
  • Apr 1, 2015 4:56pm Apr 1, 2015 4:56pm
Quoting handy148
pgpb - I would like it please. I tried changing the code and compiling but it didn't work for me.

see attached
Attached File(s)
File Type: ex4 !m15lines.ex4   10 KB | 605 downloads
File Type: mq4 !m15lines.mq4   5 KB | 674 downloads
  • #28
  • Apr 1, 2015 6:01pm Apr 1, 2015 6:01pm
Congrats on starting this thread Roney, I wish you Good Fortune ...Q
Whats That? you're trading What?
  • #29
  • Apr 2, 2015 1:28am Apr 2, 2015 1:28am
just closed a nice winner on GU. +10

EU would have been nice too!!

Attached Image (click to enlarge)
Click to Enlarge Name: 2015-04-02_0827.png Size: 33 KB
  • #30
  • Apr 2, 2015 2:29am Apr 2, 2015 2:29am
Quoting Mr.Ma
just closed a nice winner on GU. +10 EU would have been nice too!! {image}
Thanks for posting your trade Mr. Ma. It seems you could have entered a 05 level earlier. Just curious why you waited.
  • #31
  • Apr 2, 2015 3:13am Apr 2, 2015 3:13am
Hello, Roney!

Thanks for sharing!

One question about your picture - just want to know did I miss something or it was a mistake.

Attached Image (click to enlarge)
Click to Enlarge Name: ex1 question.png Size: 41 KB


Thank you in advance!

Artem
Let's go with the flow
  • #32
  • Apr 2, 2015 3:22am Apr 2, 2015 3:22am
Hi Roney.
You said in first post: "Cancel pending order at first color change close(Candles, price to open)"
My question is: when we have alredy open trade, should we also close the trade if this conditions are met, or we don't do nothing and wait for price to hit SL or TP?
  • #33
  • Apr 2, 2015 3:34am Apr 2, 2015 3:34am
Quoting Adam84
{quote} Thanks for posting your trade Mr. Ma. It seems you could have entered a 05 level earlier. Just curious why you waited.
Actually the 05 Level earlier (1.4835) wasn't a clear signal for me because when the M1 candle closed above this level the "price to open" indicator then changed color, so for me was the first tradable level the 1.4845.
  • #34
  • Apr 2, 2015 3:38am Apr 2, 2015 3:38am
and this brings me to a question...

do we trade only the 05 Levels or the 00 Levels as well?

I understand it the way we trade only, for example the 05, 15, 25, 35, 45 and so on levels.
Or do we trade also the 00, 10, 20, 30, 40 and so on levels?

appreciate your answers
  • #35
  • Apr 2, 2015 5:54am Apr 2, 2015 5:54am
Quoting colombino
RoneyFX, thanks for you answer. I have one more question, in the attached chart - how do you deal with these sideways conditions. Are these trades valid? They are made on the same level, but after color change. I liked the breakeven idea after reaching 50p, but made quick backtest of this week for E/U and the breakeven approach saved me 6 loses, but stole me 7 wins. So witch 2:1 w/l ratio its heavily disadvantageous. Did your long-term backest prove the oppsite? {image}
Just don't trade the same level and and you will get -50,+100 and another + 100 i can see and of course from your results does not seem a good idea, but you have to follow the rule of one trade per level
  • #36
  • Apr 2, 2015 5:59am Apr 2, 2015 5:59am
Quoting Mr.Ma
I just have a question, too. In the attached sreenshot we see a nice down move! Regarding to the systems rules, can we enter short positions if only the 60min "price to open" indicator shows the downward momentum? Because in this case the daily "price to open" indi changed color on the very end to this move and served us with a nice loser. {image}
You can see how the trend is going up, we place only orders above 05 levels for short, trading only the next levels in current trend and in this case just wait the bull signal
  • #37
  • Apr 2, 2015 6:06am Apr 2, 2015 6:06am
Quoting pgpb
{quote} If you add in my (suggested) rule of taking the break of a 15 minute candle (hi or low) (purple bars) this (I think) will keep you out of choppy price action. I also add it (hi and low) of one hour bars, and I only take one trade per hour See attached chart PGPB {image}
would be nice to try to move the signals of larger candles on 05 closer levels, there is only work to do but it colud work (i dont know how but something good can be obtained) you can attach the indicator please
  • #38
  • Apr 2, 2015 6:07am Apr 2, 2015 6:07am
Quoting pgpb
{quote} see attached {file} {file}
I saw below that you have already posted it
  • #39
  • Apr 2, 2015 6:08am Apr 2, 2015 6:08am
Quoting Qed
Congrats on starting this thread Roney, I wish you Good Fortune ...Q
thanks, I am sure that we can finalize this system on the forum
  • #40
  • Apr 2, 2015 6:11am Apr 2, 2015 6:11am
Quoting Mr.Ma
just closed a nice winner on GU. +10 EU would have been nice too!! {image}
you catch the awesome instant trend change, i could see this thing many times and its work at 90%, but still i do not know which approach i need to use to explain this phenomenon
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