100-300 Pips Per Day Any Pair Any Timeframe Using 2 Indicators - page 76
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joesmoe, on the third method.
If the price cross M1 before adx cross on M5, is it still valid?
MP --- its NOT the system, NOT the EA --- its all about LEARNING !
FIRST OFF not here to argue or rant, but it does sadden me to see everyone wants SOMETHING that will trade for them, instead of LEARNING how to trade. I can understand wanting something for nothing, but how sad to see human ability to analyze changing markets in seconds being wasted because of laziness and NO desire to learn the craft !
anyway, moving along the way youre doing, you will NEVER be able to handle news or ranging markets because these markets are NOT just "indicator revealed" but exist as entities in themselves, easily traded and even more easily understood as to when and where breakouts will happen, but NOT to an EA or those with NO EXPERIENCE or KNOWLEDGE.
the overall problem with a SYSTEM is that it cannot understand when something changes in the equation --- it cannot figure what is happening next and how to adapt to it with proper money management, but still make a profit.
I am speaking to deaf ears, as i understand TO WELL the desire to get rich, and "quickly" is usually part of that equation, but few "systems" out there will do if for you without some effort on your part.
for instance, i remember a few years back (although it happens every year) during the EA contests, a very simple EA was "tuned" to ride an uptrend and do nothing more than work in a "normal" investor manner --- other words, buy the dips and add to the positon already held. It did wonderfully, winning the contest hands down, BUT the creator of the EA had to FIND THE CURRENCY THAT WOULD BE IN A STRONG UPTREND, because the EA had no way of evaluating THAT !
it is KNOWLEDGE that makes a success, not a system that you grab onto because of so many reasons (stop losses being one of them -- each "system" has to be "tuned" to the sl requirements of the currency pair youre trading)
it saddens me to see so many chasing the carrot, when you can have the whole damn salad AND the farm if you just LEARN about this wonderful trading instrument, that supplies so much so willingly !
BTW, simply because I am proud of being a person first, a trader second, having some knowledge of the game i play third and thankful for NOT being a robot or a system, my present pips on 35 completed trades today are 482 and growing during the asian session, and that wont include the 100 or so tonight, while i sleep !
enjoy and trade well folks, but try to LEARN somewhere along the line --- PLEASE !
mp
I have included time filter rules... but did not improve performance at all. It does make the losses smaller, but just because it trades less. Of course I am open to suggestions on how to predict range-bound markets. I cannot agree on the news impact. I have tested in slow weeks as well as strong trend weeks influenced by news. The results are not good whatsoever. By the way, this method seems to perform better on strong trends, right? Therefore news are the best history to test, because they normally start a mid-trend and, as long as it is history, does not suffer wider spreads as real life. In short: the best conditions for the method to win.
Of course! As soon as I get some comments about its operation from the thread starter. Then I shall correct any problems and post it here. As I said, the tests results as it is today are not acceptable.
What TSU are you wanting clarity on?
JS
joesmoe, on the third method. If the price cross M1 before adx cross on M5, is it still valid?
MoreYummy,
I would wait for the 5m ADX to cross before I took the trade.
JS
MP Your Results First 3 Trades Don't Match
MP,
Was going through your results that you posted. I see the first three trades don't match up.
I looked at the price that you took each Long. The price only hit once at that price all day on the 6/3. So this rules out that the time was not a factor.
So I looked at each trade and the price shot right through your long and never came back to profit in 6 minutes or less as it shows on your report.
I must be missing something will you please explain.
I attached 3 pictures to illistrate the first 3 trades.
Thanks,
JS
Mp --- you gotta have the tools to do the job !
Thnx for the question JS --- allows me to completely establish my veracity in this situation.
while it would be harder for me to put up the range chart i use to scalp, its the equivalent of a 15 second chart (or less) and what you see on a one minute is only 1/4 of the information i trade with.
but it wasnt too hard to show the info, so i used a 2 minute chart instead.
you REALLY have to learn that what you see on a one minute chart HAS LITTLE INFORMATION FOR THE SCALPER, as what i trade is HIDDEN inside of your one minute candles, where you can never see it !
thnx for asking though !
its just all about LEARNING and EXPERIENCE, and NOTHING beats it !
enjoy and trade well
mp
MP,
Was going through your results that you posted. I see the first three trades don't match up.
I looked at the price that you took each Long. The price only hit once at that price all day on the 6/3. So this rules out that the time was not a factor.
So I looked at each trade and the price shot right through your long and never came back to profit in 6 minutes or less as it shows on your report.
I must be missing something will you please explain.
I attached 3 pictures to illistrate the first 3 trades.
Thanks,
JSThnx for the question JS --- allows me to completely establish my veracity in this situation.
while it would be harder for me to put up the range chart i use to scalp, its the equivalent of a 15 second chart (or less) and what you see on a one minute is only 1/4 of the information i trade with.
but it wasnt too hard to show the info, so i used a 2 minute chart instead.
you REALLY have to learn that what you see on a one minute chart HAS LITTLE INFORMATION FOR THE SCALPER, as what i trade is HIDDEN inside of your one minute candles, where you can never see it !
thnx for asking though !
its just all about LEARNING and EXPERIENCE, and NOTHING beats it !
enjoy and trade well
mpMp,
Thanks for your civil response as this community is all about learning so thanks for pointing that out. Lets keep playing nice and we all can have fun together.
Quetsion:
You said this on a earlier thread #712
"For scalping, we take a minimum of 6 trades on each one minute chart and then go on to the 3 minute, 5 minute and start all over again, working our way up to the 15 minute."
"anyway, this is what the ORIGINATOR of this method (ME !) has made so far today, and we expect to hit 800 pips before we then switch to our "overnite" trades, good for a usual 120 pips while we sleep !"
"FURTHERMORE, while i have mixed feelings about the thread owner using this, i am REALLY UPSET to see that its not being used in its entirety but rather just a small part --- much of what happens in these trades (to avoid massive drawdowns) is "time of day" based, which is a very important part of the approach. Arbitrarily going forth on a trend that will reverse soon can bring DEATH to a small account, especially if its being overtraded"
You clearly say that you only use 1 minute then go to 3 minute then to 5 minute and work your way to the 15min.
Why now are you saying you use a 15 second chart? Why not mention that in the first place?
What you are saying is that in your 15 second scalping method that starts with 15 seconds, then goes to 1min,3min,5min to 15min that you are seeing trades that are happening that you happen to purchase a long and it went up to its target that does not show on a 1 minute chart. Do I have that correct?
If that is the case then why use a 1 min, 3min, 5min chart? All of those time frames to show the next candle? Why work your self up to the 15 min chart? I would mean watching a candle form in ever time frame. There would be no reason to do this because it would defeat the 15 second trade.
If you are using the charts as over layes then you are not looking for the price to move in the 1 min, 3min, 5min, 15min. You are looking for a pattern a picture while looking for a trade in the 15 second scalping chart you have.
Why is your 2 minute chart so different then a 1minute chart? Price is Price its going up or going down. Look at every time frame and you can see this happening the same...Just don't see the possiibility of any other time frame not showing the same thing.
Why is this trade similiar to any of my trades? None of my trades are like this set up or signals. Just curious.
Please indicate what TSU that I have put on this forum that is like your trade. Please see the first post for the Trade set Ups.
Please post that same picture you just shown with the date of 6/3 as i did. It shows authenticity. (Sorry for My error I see the 6/3 on the chart to the left. Thanks) Sorry for the detailed questions. I just know human beings and humans are deceptive. Not that I'm saying you are. I'm this way with everything I do.
Thanks again for the friendly dialogue
JS
Thnx for the question JS --- allows me to completely establish my veracity in this situation.
while it would be harder for me to put up the range chart i use to scalp, its the equivalent of a 15 second chart (or less) and what you see on a one minute is only 1/4 of the information i trade with.
but it wasnt too hard to show the info, so i used a 2 minute chart instead.
you REALLY have to learn that what you see on a one minute chart HAS LITTLE INFORMATION FOR THE SCALPER, as what i trade is HIDDEN inside of your one minute candles, where you can never see it !
thnx for asking though !
its just all about LEARNING and EXPERIENCE, and NOTHING beats it !
enjoy and trade well
mpMP,
can you please explain what it is that is missing in this system so we can all see is this system really worth or not.
Thank you.
MP,
Would you please kindly tell us what it is that is missing and/or what/where you are teaching your system. You kept telling saying "its just all about LEARNING and EXPERIENCE, and NOTHING beats it !" and "LEARN somewhere along the line --- PLEASE !" yet after numerous requests, you still don't tell us the full story. How could one learn when one does not know what to learn.
MP -- why mine is bigger than yours !
Mp,
Thanks for your civil response as this community is all about learning so thanks for pointing that out. Lets keep playing nice and we all can have fun together.
Quetsion:
You said this on a earlier thread #712
"For scalping, we take a minimum of 6 trades on each one minute chart and then go on to the 3 minute, 5 minute and start all over again, working our way up to the 15 minute."
"anyway, this is what the ORIGINATOR of this method (ME !) has made so far today, and we expect to hit 800 pips before we then switch to our "overnite" trades, good for a usual 120 pips while we sleep !"
"FURTHERMORE, while i have mixed feelings about the thread owner using this, i am REALLY UPSET to see that its not being used in its entirety but rather just a small part --- much of what happens in these trades (to avoid massive drawdowns) is "time of day" based, which is a very important part of the approach. Arbitrarily going forth on a trend that will reverse soon can bring DEATH to a small account, especially if its being overtraded"
You clearly say that you only use 1 minute then go to 3 minute then to 5 minute and work your way to the 15min.
Why now are you saying you use a 15 second chart? Why not mention that in the first place?
to be fair, i havent a clue as to what the range chart converts to in realtime, but i figure 15 seconds to be close enough anyway ---- i DO use the one minute chart and COULD do it without the lower timeframe because i know all the s+r points contained WITHIN the one minute, some of which are HIDDEN within the candle movement itself (lets say i take 2 trades a few seconds apart --- HIDDEN inside the one minute candle are those TWO trades, which you cannot see unless you have FULL details, which neither you or TRO has (although TRO is now stealing more of the indicators i use every day, trying for all the world to convince others that he understands how to trade, which he doesnt)
But returning to the question and dropping my anger for a moment, the ONE MINUTE candle CONTAINS more information than you are capable of showing, therefore you only get ONE chance at what is MULTIPLE chances to trade the timeframe ---- the range chart is simply an adjunct and while i did not mention it originally, it doesnt really give me any sort of "edge" over just using the one minute chart.
What you are saying is that in your 15 second scalping method that starts with 15 seconds, then goes to 1min,3min,5min to 15min that you are seeing trades that are happening that you happen to purchase a long and it went up to its target that does not show on a 1 minute chart. Do I have that correct?
not really, as explained above --- ALL of these trades are in the one minute but one has to SEE them, which you simply dont !
If that is the case then why use a 1 min, 3min, 5min chart? All of those time frames to show the next candle? Why work your self up to the 15 min chart? I would mean watching a candle form in ever time frame. There would be no reason to do this because it would defeat the 15 second trade.
oh me --- you need some lessons dontcha ? When trading short term (also long term, but thats a horse of a different color) ALL timeframes are important as in the 15 minute chart is composed of single candles representing 15 ONE MINUTE candles, which now presents a staggering number of trades (15 X 6 as a low number) that one can take if so wishing
Each timeframe is interdependent on the one below and the one above, all the way up to the DAILY, (or higher, if one wishes to wax philosophically about it !) --- the one minute DOES NOT exist independently of all the rest, which is the KEY to making pips in forex !
If you are using the charts as over layes then you are not looking for the price to move in the 1 min, 3min, 5min, 15min. You are looking for a pattern a picture while looking for a trade in the 15 second scalping chart you have.
I trade in the most simple manner there is --- if its going UP, then i go long. If the price is going DOWN, I am short. I KNOW where the price is going and usually know when it will get there which is dependent on the momentum contained in that sessions trading, but thats it and the "15 second chart" really hasnt much to do with it at all, so dont look to it as the "edge !"
Why is your 2 minute chart so different then a 1minute chart? Price is Price its going up or going down. Look at every time frame and you can see this happening the same...Just don't see the possiibility of any other time frame not showing the same thing.
uh, maybe cause its TWICE as much as the one minute ? --- actually, probably because of the magnifications i use --- your chart seems to cover the last millenium, and therefore EACH candle is kinda sorta vague --- mine are simply strongly magnified, and therefore MUCH easier to see the REAL situation.
I was simply too lazy to search the one minute chart for the answer to your question, so started with a 15 minute and kept zooming in to the trade dates and times, then i simply switched over to the 2 minute because there were FEWER candles to have to display, making for a clearer chart, but the answer to your question, I am sad to say, is simply based on the fact that you have not studied what really happens on the charts --- when i teach people who CARE about learning, they spend a week doing nothing more than WATCHING the charts, the interrelationships between the longer and shorter timeframes, and they soak up all that information before even considering where the price is moving --- FEW if ANY forex instructors or "system" creators have the experience that comes out of the equities world, where we didnt have MT4, ROBOTS and all these wonderful "systems" that may or may not work --- in equities, one has to KNOW what is happening before the money hits the table !
Why is this trade similiar to any of my trades? None of my trades are like this set up or signals. Just curious.
Please indicate what TSU that I have put on this forum that is like your trade. Please see the first post for the Trade set Ups.
Please post that same picture you just shown with the date of 6/3 as i did. It shows authenticity. (Sorry for My error I see the 6/3 on the chart to the left. Thanks) Sorry for the detailed questions. I just know human beings and humans are deceptive. Not that I'm saying you are. I'm this way with everything I do.
Understand JS that i KNOW what im doing to the point that forex is rather boring, which is EXACTLY as it should be --- i have NO reason to falsify anything, although
also please understand that money no longer holds much mystery or desire for me as i simply produce more in a day than most ATM machines and one can only have so many trust funds to shelter it !
Thanks again for the friendly dialogue
JSENJOY AND TRADE WELL
mp