Ein scalping

My system no sl.just pending stop order.but ok

Thanks! Does - NO STOP LOSS - mean that you might have BUY and SELL trades running together?

LIVE (real account) trade in progress (RSI was already >60 when ALL conditions have met, so TP potential is limited till RSI 70 is reached):



A technical question: Do we wait until candle closure for RSI to reach target, or do we close out trade if RSI touches target before candle closure...?

anybody can post a template for this system plz

There you go

No need of template buddy. Its quite simple. Only 2 indicators needed with following settings.

1. EMA 14,
2. RSI 14, level 30, 50, 70
3. MACD, level 0

@MasterGuru

I try to finish as soon as RSI hits 30 or 70 depending on the strength. If RSI still goes down after it touched RSI 30 I keep the trade open for a maximum of 2 candles depending on the RSI direction. I also check M1 for direction. Same applies to RSI 70.

thanks cbb

Thanks, CBB! It makes sense,

BUY trade has been closed (at loss) when new SELL trade has been triggered.

so that was a ~15 pip loss on that BUY trade?

That is correct. But again, the ORIGINAL strategy does not have a SL as mentioned before by Author Einsyela...

@ MasterGuru

I would add a 50 Level to RSI so you can identify trades better.

Thanks! Good idea. Done.

That entry also appeared to be well above the 14 EMA. I wonder if price needs to be closer to the MA??? Just an observation and maybe a refinement of the entry rule perhaps

A trailing stop would have helped on this one too Really appreciate your contribution to this thread MasterGuru

lol...you really whasting your time... make an EA and see by yourself. The result is like all this type of to simple mecanical system...BS

I think it'll be best to take entries close to ma, because in that case it will be possible to set stops above/below recent swings on the opposite direction of trade

As Author stated: RSI (30 & 70) are targets, but he also mentioned 10 and 4 pips TP as scalping: "Rsi just for exit target.scalping mean not take profit more then 10 pips.if uprofit 4 pips n close .u still profit lol..so tht meanbscalping"

So far both posted trades would have worked out just fine with 10 pips TP each.

SL is still a question...

system gone to test ...

And my last trade for today. Gained another 11 pips.
3 trades 38 pips lets call it a day

Haha.. i think almost people here still not get it my system..all expert trader top in world dont use ea or templete coz candlstick already a templete.indicator just make triger for entry post to sell or buy.my system dint use sl.use candlestick patern n position.support buy indicator. I repeat again


Buy

Rsi is above 50

Cadlestick open above ma 14 n bull.

Macd standard are positive tht mean u can see the digit at macd dont have - at number.

Be4 post buy position make sure 5 m candlestick are around 5-7 pips .strong spike or momentum.

Close order if rsi touch 70 or after 3 candlestick appear.

Tht true profit system.

All my downline are profit n happy with trade

This tecnic only..if wnt to patch with fundemental pls change broker n follow my group.use cp manager n u can see alot profit just use scalping.


This system i get from warrent buffet group at 2006.n i explore n make my own system.

Trully.all indicator are perfact wtih default setting .just how to use n match.

All profit i get n i show b4 are use this tecnic only.

Pls look carefully n read all my post n pls understanding n match with back record of trade.manual.dont use backtested

someone with good programming, you might make a profitable expert advisor