Urban Towers Scalping Strategy - page 7
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Hey everybody, what happened to this thread? I just read through every post here only to discover that there's been no activity here since TRO's post of 17th October...
My guess, the market was a little bit to agressive for this scalping strategy?
But it could be that I'm wrong
Hey Guys,
Sorry for the delay in postings. I've been away on vacation and busy working on other projects.
I'll continue starting to post the Urban Tower Scalping strategy almost daily again. Hope to see regular followers.
- Navin Prithyani
urbanforex
Just picked up on this thread, looking forward to updates and particularly to see how this performs in the current market when other trend following strategies are sturggling.
As requested previously by other members, some performance data would be nice if possible.
Thanks
I just gave this strategy a try on cable this morning.
There was a run of lower highs leading to a slight dip into the rainbow MA's. The candle that dipped into the MA's had a top of 1.4724. I missed the immediate entry on the next candle when it shot out of the blocks, but caught a better entry on a pullback to 1.4718.
Closed out 15 mins later for 26pips profit at 1.4744. (i.e. 20pips from correct entry as per strategy rules)
Certainly seems to be one to watch, although i'd like to see some results accross a small selection of pairs because the trade examples given last year were accross 9 pairs which I do not have the ability to watch. Also it would be easy to retrospectively trawl back though that many pairs and find isolated examples of the trade set up working well.
Gave it another try, GBP/JPY. Long at 143.52, TP hit at 134.75 for 23pips. Could have safely banked another 10 or 15 on each trade, but as it is I'm up 49pips in a couple of hours, so I'm pretty happy so far..............
Here is a trade that took place today on USDJPY on the 15min charts.
Smooth 3 consecutive lower highs and we had the break.
Cheers,
Navin Prithyani
Navin
Thanks for sharing this with us, it looks to have alot of potential and so far I'm pretty impressed. could you answer a couple of questions for me please.
If a third (or more) lower high, goes right to the bottom of the rainbow MA's a fourth (or more) opens below the bottom does that invalidate the trade? If not is the entry point the top of the candle that opened below or the one that is within the MA channel.
Also while an R/R of 1:1 is acceptable while the hit ratio is high, have you run any tests on a higher R/R?
Many Thanks
Dave
NavinThanks for sharing this with us, it looks to have alot of potential and so far I'm pretty impressed. could you answer a couple of questions for me please.If a third (or more) lower high, goes right to the bottom of the rainbow MA's a fourth (or more) opens below the bottom does that invalidate the trade? If not is the entry point the top of the candle that opened below or the one that is within the MA channel.Also while an R/R of 1:1 is acceptable while the hit ratio is high, have you run any tests on a higher R/R?Many ThanksDave
Hi Dave,
1st off, always make sure the MA's are trending at a decent angle rather than going almost sideways. Next, if the last candle closes outside the MA's to the other side - invalid. The wick (tail) can go outside but should not close on the other side. Hope that makes sense.
Regarding money management, due to the decent success rate of this strategy and its accuracy, my opinion is (can't say recommend as I can get in trouble lol) open 2 trades, close one of them out at 1:1 and let the other one run to the next support/resistance area. You will be better off that way overall.
Hope the information was clear and useful, let me know if you have more questions
Thanks for asking !! I love questions 
Cheers,
Navin Prithyani
Here is a trade that occurred yesterday on USDCHF 15 min charts.
There was a nice consecutive higher low, touched the MA, then at the break of the highest low, we entered short. Trade gave a good 1:1.5 risk to reward in 40 mins.
Cheers,
Navin Prithyani
- urbanforex