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(REQ) Fx super scalper


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...nice 24 pips today...

 

Hey phasna, what type of trades do you use (Slingshot, Crossover or Quick Profit)? Or do you use all of them? I noticed that if you use all of them, you get many signals... the wisdom is to pick the best ones. The Quick Profit is really very accurate (around 90%) but you make small amount of pips (5-10) and stop loss is really too large. I use 61.8% fib as a stop loss with this type. I am also thinking about trading this type on 15m or 30m charts in order to get more pips.

 

 

What did you mean by "if the 34 ema does not confirm, then I up the timeframe to the 15 min chart and stalk the trade there"? Do you wait for 34 ema to start going up (if you want to go long) or down (if you want to go short)? When you go to 15m time frame do you wait for signal there and enter the trade according to that signal (you don't go back to 5m chart)?

 

 

I actually have used all four (including the free one he sent out as a teaser) and in the end I only use the free version. Where you have to trade with the trend by waiting for a pull backback of the countertrend swing then your signal candle is the stochastic cross while the 34 EMA must have risen from the prior candle (assuming buy trade) Stop Loss is placed under a fib level depending on where the signal candle entry is. I always target the 100% level with the first half and the 161.8% fib with the back half of the trade.

 

It's similar to the CrossOver but I like using the fib levels rather than the swing high/low for stop placement.

 

What I mean by "if the 34 ema doesn't confirm" is this... If you are looking to buy on the 5 minute due to a stochastic cross and the price has fallen so far that the 34 ema is no longer rising from the prior candle to the signal candle than I take this as a sign that the price may continue to fall and give me a better entry, but I only take that entry if the rules still apply on the next timeframe. On the 15 min the 34 ema is still likely rising, so I would look for the stochastic cross on that time frame. I will usually use the same fib levels but sometime I change them to a different swing high/low since the 15 min gives more clarity.

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I actually have used all four (including the free one he sent out as a teaser) and in the end I only use the free version. Where you have to trade with the trend by waiting for a pull backback of the countertrend swing then your signal candle is the stochastic cross while the 34 EMA must have risen from the prior candle (assuming buy trade) Stop Loss is placed under a fib level depending on where the signal candle entry is. I always target the 100% level with the first half and the 161.8% fib with the back half of the trade.

 

It's similar to the CrossOver but I like using the fib levels rather than the swing high/low for stop placement.

 

What I mean by "if the 34 ema doesn't confirm" is this... If you are looking to buy on the 5 minute due to a stochastic cross and the price has fallen so far that the 34 ema is no longer rising from the prior candle to the signal candle than I take this as a sign that the price may continue to fall and give me a better entry, but I only take that entry if the rules still apply on the next timeframe. On the 15 min the 34 ema is still likely rising, so I would look for the stochastic cross on that time frame. I will usually use the same fib levels but sometime I change them to a different swing high/low since the 15 min gives more clarity.

 

You were right about 15m time frame. I have started trading on 15m chart and signals are clear and more reliable (although, you get less signals - however, the gains are larger). I have just made 28 pips on eurjpy and 39 pips on eurusd this morning (european session).

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Hi Murtamad :) Thank you! do not know where I have been when published these....

 

ok, let help secretforexfactory's ftp server....

its all including "Live trades"

all contents excluding "Live trades" - "aaaaaFTP-01-main.rar" ("Live trades" are in next 3 files bellow)
http://www.mirrorcreator.com/files/1CYLB79H/

video 1 of 3 from "Live trades" - "2011-02-07.flv"

[b][size=2][color=#1A90B0]http://www.mirrorcreator.com/files/OEVR0ZQZ/[/color][/size][/b]

video 2 of 3 from "Live trades" - "2011-02-28.flv"

http://www.mirrorcreator.com/files/M7R7LIT8/

video 3 of 3 from "Live trades" - "2011-04-05.flv"

http://www.mirrorcreator.com/files/Y2M7BS1K/

 

 

will update my previous post as well

 

thanks again Murtamad!

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I am now using CrossOver type on 15m time frame with slight modification regarding stop loss (similar what "phasna" uses). So far, so good. I also use simple free technique offered by Rahul Gupta at http://www.forexsuccessformula.com/forextradingblog/free-forex-trading-strategy-best-on-gbpusd-and-eurusd-currency-pairs . Essentially, it is a double bottom/double top pattern with precise entry/exit rules. Although it looks simple and it's free don't underestimate these patterns. I have had nothing but success with these patterns! I haven't had a single losing trade using them. Of course, this isn't 100% effective and sooner or later I will hit the losing trade but, if used correctly, these patterns are quite reliable on 30m and 1H time frames.
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