Trading Chaos - (Rrofitunity)
** will continue posting on this post to put whole strategy up.
NOTE: this is for collaboration purposes only, please post your comments feedback, or better yet suggestions to make this better. I want to make sure everyone understands the logic behind this strategy and then maybe we can develop a scalper around it.
A few trades on EURUSD today. I like to scalp between 4-6 pips per trade.
Looking at EURUSD today Feb 28th 2007 on FXDD platform, here is the setup...
Attach Alligator indicator to M5 EURUSD chart. usually I enter 1 pip above Bullish or Bearish Divergence bar. SO today, 03:35 candle on M5 chart is a bullish divergence bar, and price pulled away from the alligator's blue line, perfect setup for pull back. I would setup Buy Stop 1 pip above that candle so
Buy Stop @ 1.3217
or manually open Buy order and close after 4-6 Pips.
another example is 10:40 bar same day same currency...
Buy @ 1.3194, take 4-6 pips profit then close
Next is at 15:40 bar, bearish divergence bar.
Sell @ 1.3216 for 4-6 pips profit
Next is 17:35, Bullish
Buy @ 1.3202 for 4-6 pips profit
Next signal is just now on new day, March 1 2007 as I write I see it, candle is 00:50
Buy @ 1.3225 for 4-6 pips
There are alot of other signals on just one day on one currency. I just wanted to get the idea out there and see if you guys know what I am talking about. As with any system this generates false signals as well, but mostly winners.
2 things I need to work on, and need help from you guys...
1: Filter out bad trades, i donot mind getting no trades at all in a day if the signal is not strong enough
2: Some how automate this.
Thanks for reading.
Killer
Since I work during the day, I will try to use this strat to scalp during the night and post the statement here.
Killer
Next signal is just now on new day, March 1 2007 as I write I see it, candle is 00:50
Buy @ 1.3225 for 4-6 pips
This signal posted closed in profit.
FXDD Demo account, on EURUSD M5 Bar 01:40 I see a bearish divergence bar and price went away from blue line, good short trade there. I hope you guys are reading this.
hi
CAn you explain your scalp system ...regarding TF,entry point,TP,SL,exit point ?
and your indicator too ? so everyone here who expert on EA can help you
===================
SOrry guys, I fell asleep last night after posting, I am gonna try to get some more screen shots of EURUSD today.
Price is moving away from the alligator, stretching the rubber band. Will Look for a long EURUSD if the current bar turns out to be bullish divergent bar. Notice I moved to M15, I think during news M5 is too noisy, M15 gives a better smoother look at the chart.
I hate watching open trades, need to automate this so I don't give myself a heart attack over few pips lol
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
You agree to website policy and terms of use
Hello everyone, Just wanted to say hello and also see if more people are interested in the Bill Williams Trading Chaos aka Profitunity stuff.
I know there are a bunch of EA's and indicators out there that suppose to follow or work as described in the Trading Chaos Second Edition but none of them quiet live up to the expectation.
And no I am not soliciting nor advertising for the book and don't ask me for it either, if you want to read it look it up on amazon or do a simple search in your favorite torrent search engine or emule etc.
Here is the idea...
Wiseman 1:
I always make pips on Wiseman#1, but I can only do it manually. I cannot find a right code or indicator or EA that can reproduce the results I get when trading Wiseman#1 manually. From the whole book, I think this is the only signal that produces consistant results.
Lets assume you imagine a rubber band around the price and the blue line of the alligator indicator (the alligator's jaw), when the price is moving at a steeper angle from the blue line then it is obvious that the imaginary rubber band will stretch more and more, giving it more power when it decides to reverse the current direction.
In simple english, if you put a rubber band around the price and the blue line of alligator indicator, the more the price moves away from the blue line the more chances of it snaping back, meaning if you stretched the rubber band, it will be trying to snap back. So if price moves upwards suddenly, there is always a pull back.
Pictures speak louder than words...