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Here is a great scalping method

  • #21
  • Feb 25, 2017 6:20am Feb 25, 2017 6:20am
This is a "SEMI Automatic / Manual System" to reduce stress of going in a trade or not....and just two indicators to make it less complicated.

Trust me i have been in situations like most traders trading live account, when you are sitting infront of your computer praying for the market to go in your favour LOL, also when the market goes opposite your heart start beating faster.

I have also been in a situation in a higher time frame in the past where i went negative 50 pips and was hopeful market will come back to me... it never did...went more against me 100 and eventually i had a margin call.

With this little strategy, you do not have to "Guess" or be "hopefull" or "predict"

Just stay in the crosses, be smart collect little pips here and there and make money.

Be stress free. Also, never leave open positions over the weekend.

Also, please understand that i am not a professional .... i am just a small trader like you trying to make it happen. I am sharing this because it works for me. Thanks

Good luck all.
Drawdown is more important than Account Size !
  • #22
  • Feb 25, 2017 6:32am Feb 25, 2017 6:32am
do you trade this on a demo or live account?
  • #23
  • Feb 25, 2017 6:43am Feb 25, 2017 6:43am
Quoting troparzum
do you trade this on a demo or live account?
Live but you should try on demo first
Drawdown is more important than Account Size !
  • #24
  • Feb 25, 2017 6:48am Feb 25, 2017 6:48am
Thanks for sharing this strategy. Its sound rather brillant!
Out of curiosity, I scripted your strategy in Pine Script to visualize it myself.

The chart is in M15 and the user can switch timeframes without affecting the MAs as they are hardcoded for M1.
It looks promising!!

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 90 KB


The script itself:

// MA Crossover Strategy
//--------------------------------------------------------------------
//
study(title="MA Crossover",overlay = true, shorttitle="M1MA_CrossOver")
// The EMA's come from M1 timeframe - to be hardcoded so that user can switch timeframes
// without affecting the EMAs
ema100=input(100,"EMA100 override",integer)
ema21=input(21,"EMA21 Override", integer)
// Define fast and slow MAs with hardcoded timeframe M1
SlowMA = security(ticker, "1", ema(close,ema100))
FastMA = security(ticker, "1", ema(close,ema21))
// Define color for both MAs
colorSlow = SlowMA[1] > SlowMA[2] ? green : SlowMA[1] < SlowMA[2] ? red : yellow
colorFast = FastMA[1] > FastMA[2] ? green : FastMA[1] < FastMA[2] ? red : yellow
plot (SlowMA, color = colorSlow, linewidth = 2, title = "SlowMA")
plot (FastMA, color=colorFast, linewidth=2, title='FastMA')
//Detect Trend Change
bull=crossover(FastMA, SlowMA)
bear=crossunder(FastMA, SlowMA)
//Plot Trend change
plotshape(bull,"Buy",shape.labelup,location.belowbar,green,text="long")
plotshape(bear,"Sell",shape.labeldown,location.abovebar,red,text="short")
// End of Script
  • #25
  • Feb 25, 2017 6:56am Feb 25, 2017 6:56am
Quoting SnoopyAKQJT
Thanks for sharing this strategy. Its sound rather brillant! Out of curiosity, I scripted your strategy into Pine Script to visualize it myself. The chart is in M15 and the user can switch timeframes without affecting the MAs as they are hardcoded for M1. It looks promising!! {image} The script itself: // MA Crossover Strategy //-------------------------------------------------------------------- // study(title="MA Crossover",overlay = true, shorttitle="M1MA_CrossOver") // The EMA's come from M1 timeframe - to be hardcoded so that user can switch...

Thanks
Drawdown is more important than Account Size !
  • #26
  • Feb 25, 2017 7:43am Feb 25, 2017 7:43am
Quoting procrude
{quote} I have tried with 5 min but not higher. Remember crossover strategies fail in ranging markets. With a 100ema on a very small time frame there are less worries of ranges. Also normally when a trader gets hit with a bigger loss his emotions change and then comes a unstable mind. Shorter time frames mean less losses. The most you will have a loss is 30 pips (SL). But normally I get a loss of 5 to 10 pips which can be recovered the same day if not the next day. Good luck
So basically you never exit a non profitable trade manually? The EA will either cross you out or or the SL will be hit taking you out? Is this correct? If so I guess the real optimization is when to take profits?

Thanks for sharing!
  • #27
  • Feb 25, 2017 7:55am Feb 25, 2017 7:55am
Quoting Telac
{quote} So basically you never exit a non profitable trade manually? The EA will either cross you out or or the SL will be hit taking you out? Is this correct? If so I guess the real optimization is when to take profits? Thanks for sharing!
yes, that is correct. focus on the positive pips.

i am working and may be every one can help is to make a perfect exit strategy. i know the entry is good... we still need a perfect or a near perfect exit strategy. like yesterday (friday) at one point this cross gave out more than 25 pips (sell) i only collected 10 because i came out early.

the ea will take you out on the next cross but sometimes that can take away some pips.

trying to make this a totally stress free system
Drawdown is more important than Account Size !
  • #28
  • Feb 25, 2017 8:01am Feb 25, 2017 8:01am
Quoting procrude
{quote} yes, that is correct. focus on the positive pips. i am working and may be every one can help is to make a perfect exit strategy. i know the entry is good... we still need a perfect or a near perfect exit strategy. like yesterday (friday) at one point this cross gave out more than 25 pips (sell) i only collected 10 because i came out early. the ea will take you out on the next cross but sometimes that can take away some pips. trying to make this a totally stress free system
Ok, thanks for that. Sounds like all we need is a rather simple EA with some BE and profit trailing options that can be optimized over time to find the sweat spots. Certainly this type of EA already exists. Interesting
  • #29
  • Edited 1:43pm Feb 25, 2017 8:06am | Edited 1:43pm
I wrote an EA based on your strategy in MT5 and the back-testing seems to be promising.
I tested it only on EU so far, and covered only last week (2/20-24).

Attached File(s)
File Type: mq5 M1MA_XOver.mq5   17 KB | 497 downloads

In the code, the EMAs are hardcoded for M1 so that I can switch the chart to other timeframes without affecting the EMAs.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 95 KB
  • #30
  • Feb 25, 2017 8:14am Feb 25, 2017 8:14am
Quoting SnoopyAKQJT
I wrote an EA based on your strategy in MT5 and the back-testing seems to be promising. I tested it only on EU so far, and covered only last week (2/20-24). {file} In the code, the EMAs are hardcoded for M1 so that I can switch the chart to other timeframes without affecting the EMAs. {image}
Thanks Snoopy, in my opinion the ma crossover EA's when back tested do not give good results.... i just use it to make me go in a trade and i manually exit my trade. When backtested the ea will take you out on the next cross and you will leave a lot of + pips on the table.

Just my opinion.

I do appreciate your efforts. You seem like a computer / coder genius !

Drawdown is more important than Account Size !
  • #31
  • Feb 25, 2017 8:22am Feb 25, 2017 8:22am
Exiting manually is fine as long as there is still a logical plan for doing so. Without having a planned exit, you will only end up making emotional decision which will NEVER give you profit...definitely not in a consistently lone term.

If we can decide a planned exit, I am pretty sure those logics can be made into the EA.
  • #32
  • Feb 25, 2017 8:27am Feb 25, 2017 8:27am
Quoting yalgaar
Exiting manually is fine as long as there is still a logical plan for doing so. Without having a planned exit, you will only end up making emotional decision which will NEVER give you profit...definitely not in a consistently lone term. If we can decide a planned exit, I am pretty sure those logics can be made into the EA.

As past 2 years, after searching for a perfect EA i am still unable to find a EA that will give a perfect entry and a perfect exit.

Only EA that i have seen to work good is Martinangle based EA which works with high leverage and hedging accounts.

Dragonexpert has one of those EA's which perform well.

I am just trying to keep it simple. If some one can figure out a perfect or even a near perfect exit strategy that would be awesome !

For now exiting manually is the only option. But a automated entry takes off most of the stress.

Thanks
Drawdown is more important than Account Size !
  • #33
  • Feb 25, 2017 8:33am Feb 25, 2017 8:33am
Quoting procrude
{quote} As past 2 years, after searching for a perfect EA i am still unable to find a EA that will give a perfect entry and a perfect exit. Only EA that i have seen to work good is Martinangle based EA which works with high leverage and hedging accounts. Dragonexpert has one of those EA's which perform well. I am just trying to keep it simple. If some one can figure out a perfect or even a near perfect exit strategy that would be awesome ! For now exiting manually is the only option. But a automated entry takes off most of the stress. Thanks
Thanks procrude

Can you explain more about the manual exit? Some examples would be really helpful to understand it. Very much interested to know when do you take the loss? when do you take the profit?

I do like this system.
  • #34
  • Feb 25, 2017 8:49am Feb 25, 2017 8:49am
Quoting yalgaar
{quote} Thanks procrude Can you explain more about the manual exit? Some examples would be really helpful to understand it. Very much interested to know when do you take the loss? when do you take the profit? I do like this system.
Automated part = EA Takes you in the trade, EA places a 30 pip stop loss, EA will also cancel your trade out if the market goes opposite and will put you in another cross in the opposite direction.

Manual part = You have to exit the trade if you are in profit. Now how much profit really depends. In a 1 min time frame you can target 5 or 10 pips... sometimes you can even get away with 15 to 20. There is no exit strategy in this system (sadly) so it comes down to the market conditions.

This is the way i look at it: In this strategy there is more room for positive trades than negative trades. Target 5 to 10 to 15 pips a day and even if you are making 15 pips a day (on average) you are doing excellent !

I have tried to use a 21 ema shift 5 or 8 to exit on that cross but i just want less clutter on my screen.

Bollinger bands in 15 min time frame will also help to see if there is a good volatility or not.
Drawdown is more important than Account Size !
  • #35
  • Feb 25, 2017 2:41pm Feb 25, 2017 2:41pm
Quoting procrude
{quote} Automated part = EA Takes you in the trade, EA places a 30 pip stop loss, EA will also cancel your trade out if the market goes opposite and will put you in another cross in the opposite direction. Manual part = You have to exit the trade if you are in profit. Now how much profit really depends. In a 1 min time frame you can target 5 or 10 pips... sometimes you can even get away with 15 to 20. There is no exit strategy in this system (sadly) so it comes down to the market conditions. This is the way i look at it: In this strategy there is...
Hi Procrude,

I like the simplicity you are working towards. I appreciate the posts on FF as it is building my confidence to trade again after many years of not trading...all Mental errors of course... tough being human LOL!

Anyway... scalping is tough...have you considered utilizing SR from M5 or M15 as well adding a faster EMA to aid in your search for an exit strategy? I don't use EA...manual trading only. I agree its all market conditions.... and our own trading style that is important to always keep in mind. I also believe your simple uncluttered approach is great and should work with all time frames...just a little tweeking here and there and all is good.

I took the liberty to build a chart example based on your EMA 21/100 cross over strategy and added a EMA 7 and SR off of M15 to find an entry/ exit that would help in capturing more pips. Also consider the candle formations at SR & Entry/Exits. I'm not sure of your knowledge of candles? Discuss further if you wish? This is Feb 24 last few hours of day used as example. Note Price action at entry/ exit points. With that in mind I like trailing stops & or trapping pips (min 5- 10 if scalping and let it run) SL at 25 usually enough breathing room.

Cheers,
Axleman.

Attached Image (click to enlarge)
Click to Enlarge Name: EUR M1 Feb 24-3.png Size: 182 KB
  • #36
  • Feb 25, 2017 2:58pm Feb 25, 2017 2:58pm
Quoting Axleman
{quote} Hi Procrude, I like the simplicity you are working towards. I appreciate the posts on FF as it is building my confidence to trade again after many years of not trading...all Mental errors of course... tough being human LOL! Anyway... scalping is tough...have you considered utilizing SR from M5 or M15 as well adding a faster EMA to aid in your search for an exit strategy? I don't use EA...manual trading only. I agree its all market conditions.... and our own trading style that is important to always keep in mind. I also believe your simple...

Thanks Axleman. Very informative. You see that is what I mean. Let's make this system simple and grab pips. Yes I have some knowledge about candlestick patterns. I love your exit points.

I am driving now, enjoying the weekend in my Jeep off roading but when I get home I will look in to what you are saying more deeply.

Thanks again for your detailed info.
Drawdown is more important than Account Size !
  • #37
  • Feb 25, 2017 3:33pm Feb 25, 2017 3:33pm
@Snoopy: Many of us here dont use MQ5 - so is it possible to post a MQ4 Version of your EA ?
  • #38
  • Feb 25, 2017 4:39pm Feb 25, 2017 4:39pm
Quoting Axleman
{quote} Hi Procrude, I like the simplicity you are working towards. I appreciate the posts on FF as it is building my confidence to trade again after many years of not trading...all Mental errors of course... tough being human LOL! Anyway... scalping is tough...have you considered utilizing SR from M5 or M15 as well adding a faster EMA to aid in your search for an exit strategy? I don't use EA...manual trading only. I agree its all market conditions.... and our own trading style that is important to always keep in mind. I also believe your simple...
Hello again Axleman,

Just got home. I was avoiding the lower time frame ma because it generates a few more bad entries than the 21ema. Take a look at the following two images with entries on 21/100ema cross and 7/100ema cross. Both during the same time on 1 min.

What do you suggest?

I do understand sometimes with a 7/100ema you get a better entry but the idea is to avoid as many bad trades as possible.

Looking forward to your input.

Once again, I do thank you for your info.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: good entries with 21 and 100 ema.png Size: 79 KB
Click to Enlarge Name: bad entries 7 with 100.png Size: 77 KB
Drawdown is more important than Account Size !
  • #39
  • Feb 25, 2017 5:44pm Feb 25, 2017 5:44pm
Quoting Axleman
{quote} Hi Procrude, I like the simplicity you are working towards. I appreciate the posts on FF as it is building my confidence to trade again after many years of not trading...all Mental errors of course... tough being human LOL! Anyway... scalping is tough...have you considered utilizing SR from M5 or M15 as well adding a faster EMA to aid in your search for an exit strategy? I don't use EA...manual trading only. I agree its all market conditions.... and our own trading style that is important to always keep in mind. I also believe your simple...
i love the idea on support and resistance levels also the candlestick reversal for exits.

thanks
Drawdown is more important than Account Size !
  • #40
  • Feb 25, 2017 5:55pm Feb 25, 2017 5:55pm
I will look in to 2 min and 3 min charts for candlestick formation on possible reversals as exits. I can see 3 min charts in tradingview but 2 min candles i am not sure which platform will show that.
Drawdown is more important than Account Size !
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