OILFXPRO D T S S 150 Pips per day/40,000 pips per annum - page 12
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we need live statement....
i can tell you about the past chart
anybody using it in live?...
I tried trading it live, it's not so easy if you wait three bars to confirm there is still momentum to take the trade. The thing you must take into consideration is your broker spread else not a good deal to trade off the one minute chart. You can get in on signals and then see it go against you very easily. I'm sure if there's an EA, then its much easier to trade.
He shared that he made 100 pips profit today, he has no mention of a "100 pip move". When I pull up the same Cable one minute chart that el cid has and count the pips from peaks to valleys it moved much more than 100 pips today. If you look at a daily candle the high to low is less than 100, maybe that's what you are referring to. cheers
El Cid,
Your INFO is incorrect. CABLE did NOT move 100 pips TODAY as you say. Please be sure to provide the correct DATES when you make such statements. The 100 pip move was last week Friday, NOT today.
While your system looks sound, the number of false signals are often misleading. You are reporting data AFTER THE FACT.
COTtrader
"Ken"I tried trading it live, it's not so easy if you wait three bars to confirm there is still momentum to take the trade. The thing you must take into consideration is your broker spread else not a good deal to trade off the one minute chart. You can get in on signals and then see it go against you very easily. I'm sure if there's an EA, then its much easier to trade.
Support and resistance trading is a variant of the D T S S system
With support and resistance trading three bars confirmation is not required.
Sell at -5 to resistance and buy order at +5 plus support for cable.For other currencies use 3 pips.Just use the support lines and avoid trading against a trending market.Also do not use moving averages,crosses ,w a e , adx
Support and resistance trading can also be used on trending days.
We need to do some more work on this variant ...and maybe someone wants to analyze .....the past performance of this method.
Historical support and rersistance lines are already drawn on the charts using our template and indicators
Regards
El Cid
Support and Resistance Indicator, Please
I have searched this thread unsuccessfully for the S/R Indicator used by El Cid Would someone please point me to where I may get a copy? Thank you.
Support and resistance trading is a variant of the D T S S system
With support and resistance trading three bars confirmation is not required.
Sell at -5 to resistance and buy order at +5 plus support for cable.For other currencies use 3 pips.Just use the support lines and avoid trading against a trending market.Also do not use moving averages,crosses ,w a e , adx
Support and resistance trading can also be used on trending days.
We need to do some more work on this variant ...and maybe someone wants to analyze .....the past performance of this method.
Historical support and rersistance lines are already drawn on the charts using our template and indicators
Regards
El CidEl Cid,
Thank you for the charts
Very explicative
Thanks
I tried trading it live, it's not so easy if you wait three bars to confirm there is still momentum to take the trade. The thing you must take into consideration is your broker spread else not a good deal to trade off the one minute chart. You can get in on signals and then see it go against you very easily. I'm sure if there's an EA, then its much easier to trade.
E T
Agreed the this system and all directional systems fail in low volatility.
The market has been very choppy with low volatility.Cable has had 90 pip range on 12 th june.Its historical average is 140.Euro/usd had a range of 50.I did point out .....if conditions returned to levels of last august...this system on the 15 m time frame would have resulted in losses of 2,000 pips.The system works very well on DAX and oil......because these instruments are trendy with daily volatility of over 100 points.Oil has 3% average daily volatilty,cable has 0.7(recently 0.5%)
When there are days like yesterday where the market goes up 20 pips and down 20 pips all day long .........cable resuled in losses of 50 pips..using 25 pip stops and 25 t/p target.Image of trades posted below
I believe a system like this using 1 bar filter on adx and wae may be consistently profitable only for scalping/trading for small profits of 7 pips on cable .On the 12 th of june there were 13 trades with a aim of 10 pips/sl 10 (7 pips after spreads of 3) which resulted in 100 pips profit before spreads and 61 pips profit after spreads of 3.This spread can be reduced to 2 on the futures market.The 61 pips profit was only on cable.We did not look at any other currencies.If you want this system to be profitable everyday ...scalping using this method is the answer.
If 12 th of June was a horrible day for trading ,then the scalping version for 7 pips is probably a holy grail
Using support and resistance trading using intraday supports would have resulted in overall profit of 20 pips yesterday on cable and euro/usd.Scalping method is definetly better.
Regards
El Cid
proscalpers holy grail 30 pips daily
I looked at the scalping version trades for the last four days .It produced approximately 10 trades daily with total profits of 40 pip avarage daily .After broker spreads of 3 the profit dropped to 13 pips daily.
If a scalper traded futures on globex and went on bid and offer at 1 pip either side ,the daily savings in spread would another add 20 pips to net profit,it equates to 33 pips daily or over 8000 pips per year
Regards
El Cid
I looked at the scalping version trades for the last four days .It produced approximately 10 trades daily with total profits of 40 pip avarage daily .After broker spreads of 3 the profit dropped to 13 pips daily.
If a scalper traded futures on globex and went on bid and offer at 1 pip either side ,the daily savings in spread would another add 20 pips to net profit,it equates to 33 pips daily or over 8000 pips per year
Regards
El CidHi el cid
did you find the proper EA ?.if so please guide me , how can i have it please?
thanks.
21 06 2007 trades on scalping ............50 pips profit today on just 1 currency pair euro/usd