Its really very good to know that you are able to make 10-20 pips on consistent basis and that is really good number of pips to make on daily basis through which one can achieve financial freedom.
Short term chart data is noise. It's very unlikely that you'll make money with it consistently. The only exception may be if you have a broker that gives you .5 spreads. Most traders don't.
Trading for 10-20 pips is like trying to catch fireflies at night with a pair of tweezers. Sure, you might get a few. But you won't fill your jar, imo.
Thanks for thid indicator..".I've been using the 4TF XO with great success"
Looks interesting but then so have hundreds of other indicators.Testing it on my Mean Renko charts with a small change to settings.See how I go.
And? What are the results?
257 Pips, One Afternoon, One Rusty Old Indicator (--- spreads = 225 pips ---)
DISCOVER SCALP TO FREEDOM K.I.S.S. (Keep It Simple Sweetie) FOREX TRADING SYSTEM
Let's give 6 pips average from not getting out at best --- below still seems to give: 177 pips in an afternoon??
I put the good old indicator "Forex Freedom" which appears to tell whether the CCI is over or under the zero line on 4 different timeframes. The BIG question is is this indicator going to give accurate readings of the past?
It would be very very simple to put this through strategy tester. The settings I have on the chart below are M5, M15, M30, M30 as the timeframes and all the CCIs set to 2.
All the entries on the chart below give at least 10++ pips - some give 30++ pips. Colored rectangles are of no significance. Exit needs idea. Stop loss is + spread + 1 pips below previous candles high/low which means every signal is a winner according to my chart.
Although this indicator repaints severely, I'm banking many pips with this indicator (and other systems). There was a run this afternoon (19-9) that gave 100 pips in an easy a way as making a peanut butter sandwich...
The signals are giving a potential 200 pips daily so start banking before the effect wears off. It's my gift to traders. But use with caution. The market will have you out if you don't use your head even if there is a signal.
This thread has some LIVE trade updates when I have the inclination. To see who coded this indicator, someone may comment on this thread or look inside the mq4 attached.
Each potential entry is on CLOSE of marked candle/ OPEN of next candle due to entry being signalled by close with all forexfreedoms same color then enter on open of next candle.
Update 23/3/10. I am willing to share my best trade calls with a few forex traders (50 max). You will get entry, stop, take profit and money management. Approx 2 trades per week at present. HERE.
I doubt they care after nine (9) years. Don't resurrect old threads without a very good reason.
Add a TMA 15 min to your charts. If a pronounced angle, only trade in that direction. If sideways take longs and shorts near the TMA 15 extremes.
Thank me later.
Mid tma 15 and below are good for longs in trend and opposite for shorts in trend.