PriceChannel Parabolic system - page 25

To add comments, please log in or register
Sergey Golubev
Moderator
116939
Sergey Golubev  

Forum on trading, automated trading systems and testing trading strategies

Press review

Sergey Golubev, 2014.03.07 09:08

Who Can Trade a Scalping Strategy? (based on dailyfx article)

  • Scalpers look to trade session momentum
  • Scalpers do not have to be high frequency traders
  • Anyone can scalp with an appropriate trading plan

The term scalping elicits different preconceived connotations to different traders. Despite what you may already think, scalping can be a viable short term trading methodology for anyone. So today we will look at what exactly is scalping, and who can be successful with a scalping based strategy.



What is a Scalper?

So you’re interested in scalping? A Forex scalper is considered anyone that takes one or more positions throughout a trading day. Normally these positions are based around short term market fluctuations as price gathers momentum during a particular trading session. Scalpers look to enter the market, and preferably exit positions prior to the market close.

Normally scalpers employ technical trading strategies utilizing short term support and resistance levels for entries. While normally fundamentals don’t factor into a scalpers trading plan, it is important to keep an eye on the economic calendar to see when news may increase the market’s volatility.


High Frequency Trading

There is a strong misconception that all scalpers are high frequency traders. So how many trades a day does it take to be considered a scalper? Even though high frequency traders ARE scalpers, in order for you to qualify as a scalper you only need to take 1 position a day! That is one of the benefits of scalping. You can trade as much or as little as you like within a giving trading period.

This also falls in line with one of the benefits of the Forex market. Due to the 24Hr trading structure of Forex, you can scalp the market at your convenience. Take advantage of the quiet Asia trading session, or the volatile New York – London overlap. Trade as much or as little as you like. As a scalper the choice is ultimately yours to make!

Risks

There are always risks associated with trading. Whether you are a short term, long term, or any kind of trader in between any time you open a position you should work on managing your risk. This is especially true for scalpers. If the market moves against you suddenly due to news or another factor, you need to have a plan of action for limiting your losses.

There are other misconceptions that scalpers are very aggressive traders prone to large losses. One way to help combat this is to make scalping a mechanical process. This means that all of your decisions regarding entries, exits, trade size, leverage and other factors should be written down and finalized before approaching the charts. Most scalpers look to risk 1% or even less of their account balance on any one position taken!

Who can Scalp?

So this brings us to the final question. Who can be a scalper? The answer is anyone with the dedication to develop a trading strategy and the time to implement that strategy on any given trading day.

=================

Trading examples

Metaquotes demo 

GoMarkets broker, initial deposit is 1,000

Alpari UK broker initial deposit is 1,000

RoboForex broker initial deposit is 1,000


Sergey Golubev
Moderator
116939
Sergey Golubev  

Forum on trading, automated trading systems and testing trading strategies

PriceChannel Parabolic system

Sergey Golubev, 2013.02.14 14:41

So, we understand that scalping is very risly trading style. Besides, it is very difficult to make it manually in consistent way for example. What the developers/traders/coders are doing to minimize the risk?

  • they are using timefilter. It is not a secret that scalping is making mostly on flat market condition. So, they are estimating 1 hour or few hours in a day to trade. For example, they are trading since 10 pm to 11 pm every day excluding Friday.
  • they are using martingale as additional feature. For example: if the price went againt me by 20 pips so the other trade is open on same direction but with bigger lot size ... and so on. It is double risk: scalping (very risky) + martingale (very risky as well) = twice risk for trader.
  • using fibo and pivot lines
  • forecasting market condition in programming way

===========

There are 2 kinds of scalping:

  • scalping in classical way (on the way of signal systems - trading on close bar only)
  • scalping traded on open bar. It is most popular scalping for now - such as tick scalping (on close tick of course :) ). Traders are using special indicators such as Tick_MACD and so on for M1 timeframe in Metatrader just to get 10 seconds timeframe in reality. It is most modentr and cool scalping right now.

TaiSong Dong
109
TaiSong Dong  
谢尔盖·

Hello I'm a new trader, and I've learned a lot about trading in your forum. At the same time also downloaded the pricechannel_parabolic_system_v1 EA system and related indicators, I would like to ask in the actual transaction, how to set the trading time of the transaction parameters of the EA parameters more reliable transactions? Thank you for your reply!!!

Sergey Golubev
Moderator
116939
Sergey Golubev  
TaiSong Dong:

Hello I'm a new trader, and I've learned a lot about trading in your forum. At the same time also downloaded the pricechannel_parabolic_system_v1 EA system and related indicators, I would like to ask in the actual transaction, how to set the trading time of the transaction parameters of the EA parameters more reliable transactions? Thank you for your reply!!!

You can open EA with MetaEditor and see the time:

input string               Time_Inputs          = "---- Timing parameters ----";
input int                  MainTimeFrame        =       -1;     // Time Frame in min(0-current,-1-each tick mode)
input int                  StartHour            =        0;     // Start Hour of Trade Session
input int                  StartMinute          =        0;     // Start Minute of Trade Session
input int                  EndHour              =       18;     // End Hour of Trade Session
input int                  EndMinute            =       31;     // End Minute of Trade Session
input int                  MonStartHour         =       -1;     // Monday Start Hour of Trade Session
input int                  MonStartMinute       =        0;     // Monday Start Minute of Trade Session
input int                  FriEndHour           =       -1;     // Friday End Hour of Trade Session
input int                  FriEndMinute         =        0;     // Friday End Minute of Trade Session
input int                  TradeDay             =       -1;     // Trade Day of Week (ex.1-Monday,-1-all Days)
input int                  NonTradeDay          =        0;     // Non-Trading Day of Week (ex.5-Friday)

input int                  CloseTimeMode        =        0;     // CloseTime mode: 0-off,1-on
input int                  CloseHour            =       23;     // Trade Close Hour  
input int                  CloseMinute          =       55;     // Trade Close Minute  
input int                  FriCloseHour         =       22;     // Trade Close Hour in Friday  
input int                  FriCloseMinute       =       55;     // Trade Close Minute in Friday


 

Sergey Golubev
Moderator
116939
Sergey Golubev  

As to PriceChannel_Parabolic_system_v1 - EA is attached.

EA is using the following indicators:

  • PriceChannel_Signal indicator (attached).
  • color_parabolic indicator (attached).
  • UltraRSI indicator (should be downloaded from this CodeBase page). Indicator is using smoothalgorithms.mqh file (it can be downloaded from same CodeBase page).

Sergey Golubev
Moderator
116939
Sergey Golubev  

How to install (PriceChannel_Parabolic_system_v1 EA).

  • Place PriceChannel_Parabolic_system_v1 file to Experts folder (for example, to C:\Users\...\Terminal\...\MQL5\Experts).
  • Place all 3 indicators (PriceChannel_Signal indicator, color_parabolic indicator and UltraRSI) to Indicators folder (for example, to C:\Users\...\MetaQuotes\Terminal\...\MQL5\Indicators).
  • Place smoothalgorithms.mqh file (downloaded from this CodeBase page) to include folder (for example, to C:\Users\...\Terminal\...\MQL5\Include)
  • Compile 4 files (PriceChannel_Parabolic_system_v1 EA, PriceChannel_Signal indicator, color_parabolic indicator and UltraRSI indicator) in MetaEditor. Do not compile smoothalgorithms.mqh file.

Sergey Golubev
Moderator
116939
Sergey Golubev  

Settings and timeframes (PriceChannel_Parabolic_system_v1 EA)

The settings for EAs: optimization and backtesting

For example, you decided to use the settings for EURUSD M15 timeframe, so find the settings file from the links above (eurusd_m15.set) and place it to the following folders:

  • to backtest EA - place this file to Tester folder (for example, to C:\Users\...\Terminal\...\MQL5\Profiles\Tester) 
  • for trading - place this file to Presets file (for example, to C:\Users\...\MetaQuotes\Terminal\...\MQL5\Presets)

Sergey Golubev
Moderator
116939
Sergey Golubev  

How to trade (PriceChannel_Parabolic_system_v1 EA)

Attach EA to the chart, and the indicators will be automatically attached to the chart too:

 

Apply selected template, allow live trading in the settings, and trade. 

Sergey Golubev
Moderator
116939
Sergey Golubev  
By the way, the latest version of the EA is PriceChannel_Parabolic_system_v1_1 EA (you can find it on the links above).
TaiSong Dong
109
TaiSong Dong  
谢谢Golubev
顺便说一下,最新版本的EA是  PriceChannel_Parabolic_system_v1_1 EA(你可以在上面的链接找到它)。
非常感谢!我准备试试吧!
To add comments, please log in or register