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The Great 05 Level Scalping System

  • #41
  • Apr 2, 2015 6:13am Apr 2, 2015 6:13am
Quoting artem_t
Hello, Roney! Thanks for sharing! One question about your picture - just want to know did I miss something or it was a mistake. {image} Thank you in advance! Artem
you are tight this is a -50 trade, as i wrote I did a quick drawing in the day to post some pictures and my eye has not seen that shadow i will put the modified image
  • #42
  • Apr 2, 2015 6:18am Apr 2, 2015 6:18am
Quoting laksior
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?
I had already thought of this detail and after some testes i found the great idea to make the trend going to the end, simply because its make a positive final result in this type of trades in history and and also works in the future
  • #43
  • Apr 2, 2015 6:21am Apr 2, 2015 6:21am
Quoting Mr.Ma
{quote} 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.
I would have done the same thing, is clearly visible 5 touches at the skipped level
  • #44
  • Apr 2, 2015 6:25am Apr 2, 2015 6:25am
I thought I would share a mental game I have started using

I start and day one, I look for one trade, if it is a win I stop for the day (if it is a loss I stop for the day also)
Next day I look for two trades if I win both, I stop for the day (if I have a losing trade I stop for the day also)
next day I look for three trades if I win three in a row I stop for the day (if I have a losing trade I stop for the day also)
etc
etc

The goal is to be profitable. Don't take every set up, you need to see why the losses happened. Was there support or resistance that you were bouncing off.
  • #45
  • Apr 2, 2015 6:30am Apr 2, 2015 6:30am
Quoting pgpb
I thought I would share a mental game I have started using I start and day one, I look for one trade, if it is a win I stop for the day (if it is a loss I stop for the day also) Next day I look for two trades if I win both, I stop for the day (if I have a losing trade I stop for the day also) next day I look for three trades if I win three in a row I stop for the day (if I have a losing trade I stop for the day also) etc etc The goal is to be profitable. Don't take every set up, you need to see why the losses happened. Was there support or resistance...
the good thing that you can test it easily, at this time appeared to me to see a new combination of TP / SL for eur / usd now i do some experimenting and I'll know
  • #46
  • Apr 2, 2015 8:10am Apr 2, 2015 8:10am
I will try to keep my eyes only on London Open, maybe Frankfurt Open as well.

I will try to get at least one, perfect would be two winners a day. When I reach that I will stop trading for the day!
Will try to just look at EU, EJ and maybe GU.

I really like the Approach of risking only 5 to get 10.
  • #47
  • Apr 2, 2015 8:20am Apr 2, 2015 8:20am
Where is 05 level ?? Should I open only 1 position per hour ?

Should I open position here ?
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD m1 here i buy.png Size: 53 KB
  • #48
  • Apr 2, 2015 8:32am Apr 2, 2015 8:32am
Quoting Mariodrugs
Where is 05 level ?? Should I open only 1 position per hour ? Should I open position here ? {image}
yes, a technical entry is 1.0835 level.
but you can see 3 touches(enought) is better to open when this level is broke.
you also can see that the new orange trend never touch this level, so you can buy from.

3 Different approach, 3 different way to open an order, you need to select your own human factor and start to learn from a point.
To chose the better way just do some test in history and see what works for you
  • #49
  • Apr 2, 2015 8:33am Apr 2, 2015 8:33am
Quoting Mr.Ma
I will try to keep my eyes only on London Open, maybe Frankfurt Open as well. I will try to get at least one, perfect would be two winners a day. When I reach that I will stop trading for the day! Will try to just look at EU, EJ and maybe GU. I really like the Approach of risking only 5 to get 10.
Do one trade per color change in this way profit success will be increased(5%-15%)
  • #50
  • Apr 2, 2015 9:14am Apr 2, 2015 9:14am
Would anyone be willing to share their settings for their trailing stop EA? I just can't seem to get it right. I am using WUKAR_WB_Trail_V1_3_2e.

Thank you!

Dobbsie
  • #51
  • Apr 2, 2015 9:27am Apr 2, 2015 9:27am
Quoting Mr.Ma
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
Hi Ma,

May I suggest a "third" hypothesis ?

...100, 150, 200, 250, 300, 350...

Regards

BBF
BigBlackfeet Always on the(forex) war path !
  • #52
  • Apr 2, 2015 9:40am Apr 2, 2015 9:40am
Quoting RoneyFX
{quote} Do one trade per color change in this way profit success will be increased(5%-15%)

agreed 100% Losing traders tend to over trade and using this rule will help stop that

PGPB
  • #53
  • Apr 2, 2015 10:52am Apr 2, 2015 10:52am
Quoting BLACKFEET
{quote} Hi Ma, May I suggest a "third" hypothesis ? ...100, 150, 200, 250, 300, 350... Regards BBF
Hey Blackfeet.

yeah no worries... Totally forgot the BRNs
Actually that was the reason I didn't take the EU long this morning, lol.
  • #54
  • Apr 2, 2015 11:24am Apr 2, 2015 11:24am
Quoting pgpb
{quote} agreed 100% Losing traders tend to over trade and using this rule will help stop that PGPB
i have edited the period of m15 lines to h1, do you know if i can to extend the designed line? Probably this will be very helpful probably i can increase the success rate
  • #55
  • Apr 2, 2015 11:34am Apr 2, 2015 11:34am
Im working on new approach and it seems to be very good: trading on last H1 range
Attached Image
  • #56
  • Apr 2, 2015 1:22pm Apr 2, 2015 1:22pm
Quoting RoneyFX
Im working on new approach and it seems to be very good: trading on last H1 range {image}
Looking forward more detiles.Thanks for your hard work.
  • #57
  • Apr 2, 2015 1:48pm Apr 2, 2015 1:48pm
Quoting RoneyFX
{quote} i have edited the period of m15 lines to h1, do you know if i can to extend the designed line? Probably this will be very helpful probably i can increase the success rate

The h1 and h4 indicators and the mq4 versions are here

http://www.forexfactory.com/showthre...19#post6800619

I requested the m15 ones here

http://www.forexfactory.com/showthre...68#post8167768

I am not a coder but if you describe what you want someone reading this may be able to make modifications

Looking forward to your ideas

PGPB
  • #58
  • Apr 2, 2015 2:53pm Apr 2, 2015 2:53pm
Quoting pgpb
{quote} The h1 and h4 indicators and the mq4 versions are here http://www.forexfactory.com/showthre...19#post6800619 I requested the m15 ones here http://www.forexfactory.com/showthre...68#post8167768 I am not a coder but if you describe what you want someone reading this may be able to make modifications Looking forward to your ideas PGPB
I have many ideas to put into practice, i started to test the strategies of others and now i go on simply creating my own
I've done dozens of works that bring positive results and are now focused on scalping because I realized that it is the true way to progress quickly in trading, i do not create threads simply because I do not have free time but I know there are people who are able to work together so i had the idea of creating a site where you can enter and view different strategies and be able to contribute by testing and making a summary of the results to make a final verdict of how its work,what do you think about this?
  • #59
  • Apr 2, 2015 3:30pm Apr 2, 2015 3:30pm
Quoting RoneyFX
{quote} I have many ideas to put into practice, i started to test the strategies of others and now i go on simply creating my own I've done dozens of works that bring positive results and are now focused on scalping because I realized that it is the true way to progress quickly in trading, i do not create threads simply because I do not have free time but I know there are people who are able to work together so i had the idea of creating a site where you can enter and view different strategies and be able to contribute by testing and making a summary...

Thanks for starting this thread

I am using "smscalpercandles" (indi attached) rather that RSI candles (personal preference) and hilow of 15 minute bars (gold lines) and also hilow of one hour bars (black lines)
Waiting for a color change (pull back) before taking a trade

see chart

PGPB
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot (1).png Size: 256 KB
Attached File(s)
File Type: ex4 smC4Scalper Candles_v3.1.ex4   8 KB | 587 downloads
File Type: ex4 smSuper TRIX_v1.ex4   11 KB | 776 downloads
  • #60
  • Apr 2, 2015 3:39pm Apr 2, 2015 3:39pm
Quoting RoneyFX
{quote} I have many ideas to put into practice, i started to test the strategies of others and now i go on simply creating my own I've done dozens of works that bring positive results and are now focused on scalping because I realized that it is the true way to progress quickly in trading, i do not create threads simply because I do not have free time but I know there are people who are able to work together so i had the idea of creating a site where you can enter and view different strategies and be able to contribute by testing and making a summary...
I really like the effort you are putting into this, the Scalp style is the one I like most, will definitly keep an eye here and help backtest when got time to
thanks
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