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simple profitable 5pip scalping strategy

  • #21
  • Dec 15, 2016 10:51am Dec 15, 2016 10:51am
Is there a different version of the slope direction line? (I want to make it thicker, (e.g. thickness 3), but as soon as I change the time frame it reverts to 2, and the indicator is locked so I cannot change the thickness parameter manually in the code...
Thank you.
  • #22
  • Dec 15, 2016 11:00am Dec 15, 2016 11:00am
Please, don't be angry on me for my words... With 1:4 TP:SL ratio and mechanical entry based on baboon, aboon, boon, wahteverboon you are going to loose your money, I am sorry to say. As you are most probably another one of thousands around that believe magical boon could make you tons of money I am going to give you my sincere advice (for free) - try your so to say system on demo account (please, only) for say five consecutive days. It's a long journey awaits ahead of you - yet another and one more day of a great findings of a holy grails.
For my fallen angels.
  • #23
  • Dec 15, 2016 11:25am Dec 15, 2016 11:25am
Quoting Big_A
Please, don't be angry on me for my words... With 1:4 TP:SL ratio and mechanical entry based on baboon, aboon, boon, wahteverboon you are going to loose your money, I am sorry to say. As you are most probably another one of thousands around that believe magical boon could make you tons of money I am going to give you my sincere advice (for free) - try your so to say system on demo account (please, only) for say five consecutive days. It's a long journey awaits ahead of you - yet another and one more day of a great findings of a holy grails....
I hear you big A. the 1:4 sl is only there as a back up in emergency if the power goes out or connection is lost. usually if a trade goes against you your out by 6 pips.
  • #24
  • Dec 15, 2016 11:27am Dec 15, 2016 11:27am
Quoting MidnightRun
Is there a different version of the slope direction line? (I want to make it thicker, (e.g. thickness 3), but as soon as I change the time frame it reverts to 2, and the indicator is locked so I cannot change the thickness parameter manually in the code... Thank you.
the same happens if I use it. I'm afraid that's the only one I have
  • #25
  • Dec 15, 2016 12:19pm Dec 15, 2016 12:19pm
Hi Fishbo81, how long are you trading this system? are you trading live or still demoing?
  • #26
  • Dec 15, 2016 1:20pm Dec 15, 2016 1:20pm
Quoting fishbo81
{quote} I hear you big A. the 1:4 sl is only there as a back up in emergency if the power goes out or connection is lost. usually if a trade goes against you your out by 6 pips.
Is better for you to put that information in the first post, or else this thread will be filled with users warning about the win|loss ratio.
  • #27
  • Dec 15, 2016 1:24pm Dec 15, 2016 1:24pm
Quoting rare
Hi Fishbo81, how long are you trading this system? are you trading live or still demoing?
only about a month on a demo. today was my first day live. I made a few mistakes, didn't cut some losing trades when I should have. trading live I need to work on my emotions. I also entered some trades at the wrong time. all in all I ended the day 10% up and learned some valuable lessons.
  • #28
  • Dec 15, 2016 2:02pm Dec 15, 2016 2:02pm
Quoting fishbo81
{quote} only about a month on a demo. today was my first day live. I made a few mistakes, didn't cut some losing trades when I should have. trading live I need to work on my emotions. I also entered some trades at the wrong time. all in all I ended the day 10% up and learned some valuable lessons.
I see thanks, I'm going to give this a try live with pivots for TP, maybe it can help improve your system.
Attached File(s)
File Type: mq4 sr lines.mq4   15 KB | 535 downloads
  • #29
  • Dec 15, 2016 2:13pm Dec 15, 2016 2:13pm
Quoting 4undmanager
{quote} fishbo81, thanks for sharing your trading method. I believe your system is flawed because your risk to reward ratio is off. You are risking 20pips to make 5pips. Even with a very high win rate, you stand a good chance of blowing up you account. I've attached an image that shows a better entry and possible exit to your system with a better risk to reward ratio. {image}
I really think 4und has a point here. I'm looking in to it at the moment and backtesting by eye over the past few days it looks promising

Attached Image
  • #30
  • Dec 16, 2016 3:10am Dec 16, 2016 3:10am
not a bad way to start the day.
entered and exited using the rules suggested by 4und

all 3 ma's had started heding up and the babon was above or had crossed the 15lwma. exited slightly late but when the babon crossed back over the 15 lwma.
14 pips in the bag

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot (19).png Size: 46 KB
  • #31
  • Dec 16, 2016 3:32am Dec 16, 2016 3:32am
then I got stung for 3.6 pips
as you can see though, if a signal fails you are out the trade pretty quick.
stop loss was at the previous low.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot (20).png Size: 49 KB
  • #32
  • Dec 16, 2016 3:46am Dec 16, 2016 3:46am
Slope direction line indicator. You can change the thickness in the code. (Right-click on indicator and then "Modify")
Attached File(s)
File Type: mq4 Slope Direction Line.mq4   4 KB | 501 downloads
File Type: ex4 Slope Direction Line.ex4   12 KB | 543 downloads
  • #33
  • Dec 16, 2016 4:28am Dec 16, 2016 4:28am
Quoting MidnightRun
Slope direction line indicator. You can change the thickness in the code. (Right-click on indicator and then "Modify") {file} {file}
Nice one!
  • #34
  • Dec 16, 2016 4:38am Dec 16, 2016 4:38am
caught these two movements for a combined 34 pips
same entry and exit rules again

took a small loss a few minuets before the first one but in total I'm comfortably green

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot (21).png Size: 50 KB


Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot (22).png Size: 52 KB
  • #35
  • Last Post: Feb 3, 2017 4:54pm Feb 3, 2017 4:54pm
Hi-I am not a noob trader, but I'm new to MT4, so I guess I have a noob question: I'd like to try this system, and I see the files to be downloaded, but I don't know how to get them into MT4 and install them. Could someone please tell me how?

Thanks very much, I wish you many pips!
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