**Steinitz** Method Revealed Here - page 32
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It's right my view?
It's right my view?
Hi Meta,
as i understand the new variation in the system based on what I see on your chart, you should wait until the 5M turns blue (closed candle) and go long. What you are looking at is at a retracement (short) from the main trend (which is long). So the blue in the 5M should signal the movement back to the trend.
I hope Steinitz will clarify this because there is some confusion based on his original rules.
Hi Meta,
as i understand the new variation in the system based on what I see on your chart, you should wait until the 5M turns blue (closed candle) and go long. What you are looking at is at a retracement (short) from the main trend (which is long). So the blue in the 5M should signal the movement back to the trend.
I hope Steinitz will clarify this because there is some confusion based on his original rules.I'm a newbe and I'm confused too......
So like this?
HERE IS THE NEW SCALPING METHOD. The Word doc is the old original method
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You have all my settings. I always refer to the far right side of the platform when I discuss colors.
1. I have the following indicators:
1a. HAS
1b. 4TF HAS BAR
1c. 4TF HAS BAR2
I start with the highest TF = monthly and scale down one TF at a time until I see a reverse color. If the monthly is blue I go down to weekly. If it is blue I scale down to the daily if it is blue I scale down to the 4hr.
Now let's say the 4hr is red. I stop and place a long trade. That's it.
No lets say we want to make this a safer trade. We would know that the 4hr is where we want to enter and consider as our TF of trading choice. But we would scale down ONE TF lower to the 1hr and wait for it to make it's first blue candle and enter there.
This way we get a little better entry without looking at the 4hr to turn thus giving up too many pips. I believe for now that ONE TF lower is good enough. If we loose too many pips that way we would look to go TWO TF's lower hence saving any precious loss of pips waiting for confiramtion.
See the correclation on lowering the TF's and finding a good entry. It makes good logical sense.
No for exits. I have been using arbitrary only at this point. Just make the TP adjustable. I have been using 25 pips or better. Not scientific at all.
But I do look how far the price is from the HAS candle to determin if I think it could go higher. This all a feel but not at all scientific.
I really don't want to add RSI or anything that would indicate overbought as they are not reliable. If we can alter the PIP TP we could optimize this according to the currency pairs indvidual VOL.
End
Thanks Trace
Thanks Trace! I saw this but didnt know if thisd was the latest and greatest
Hi Steinitz
I started reading this thread this morning, and have not stopped until reaching the last post just now. Thank you
Can you post me the alert. I have sent you my email via PM
Thanx
Arie
Sometimes I just have to roll around here and laugh. I know I should ignore these guys but it's tempting to respond.
Here is what this guy is doing and thinking. Hey steinitz has something here that all these traders think is working. I can't allow this guy to feel he has accomplished anything since I am a loser and I need to pick apart every post of his and find anything I can that remotely looks off color.
Let me grab a few comments out of context and give it a whirl.
Ok. I just had to say that. I am done with anymore responses to the "Gutter Snipes".
Still awaiting another alert with the code changed to allow us to choose to be alerted as is or on close (user defined).
And thanks to all my members who sent $250.00 by paypal. That was great and I am sure you will feel good that now I can fund my own live account and give it a shot. Thank you from the bottom of my heart!Money well spent!
Major Anouncement !!!!!!!!!
I am posting my statement from yesterday. I am closing trades left and right with profit. My closed trades are up well over 1380 PIPS since all those little losses are platform errors. I have not had an actual losing trade yet. Even a sizeable losing trade wouldn't phase my account. Keep that in mind.......
I am getting emails pouring in. I am replying to everyone of youas fast as I can. Each and everyone of you will get a return email. Membership has grown to just over 100.
Here is the biggest news yet! Blutohas finished a preliminary EA and it's making a lot of money. I will be talking to him about the logistics of our next move. I want to talk to him personally and see just how much this ATM is giving out.
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Notice:
There are two methods to this strategy!!!!!!!
Please don't get frustrated. They both work. I prefer the scalping method which yes looks like a complete opposite strategy. They are both uniquely different and produce different results from different entries.
Things are heating up. I will be in touch with the members as I figure what the next step is on the EA.
I Wish If You Can Update The 2 Methods The Indicators And Alerts In The First Post So That Any Newbe Can Just Go On Without Looking Into All The Posts And The Ff For Explanations And Examples Without Reading All The Trash Of Those Who
Attack The Methods
Thanks
HAS Syatem doc
fxtrader, I prepared a HAS SystemWord doc, complete with charts. I'll post it tonight. It's a large doc, so it will be 2 parts/posts.