price777999
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what do you think of this for a scalping system :?:
Scalping system #6 (EMA Bands) | Forex strategies revealed
Scalping system #6 (EMA Bands) | Forex strategies revealed
scalping system ?
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shadowninja
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Demo it and let us know. 
Hoggums
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Personally I don't like using EMAs - they distract you from the price action and in particular the important resistance/support areas. By the time the ema is catching up with the price it's already bounced off resistance and is heading in the opposite direction.
price777999
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this has been working ok for me last week .....i find r/s areas distracted me from the cross overs .
but its only been a week to early to tell i suppose.
rathcoole_exile
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no no no no no no no no no no no no no no no no no no no no no
think about this - there must be a correlation between the facts that forex is the "biggest" market traded,it's the easiest & cheapest to trade for newbies and the huge prevalence within forex of "systems', "methods", "adaptations" etc. ?
You've only got to look at boards like forexfactory to see scores, even of hundreds of new "systems" thrown up every week.
Then, when someone does come along with a simple, effective, workable "system" within 3 pages of posts it has been "improved", "filtered", knocked to shyt etc by keen young newbies falling over themselves in their eagerness to ignore someone else's hard earned experience and fyck things up for themselves.
I truly believe that in markets like the ES, Gold etc, a small retail trader can carve a small niche for him or herself and earn a few bob.
But forex ? It's either huge international banks, international corporations, countries even, or it's the plain, rank, stoopid amateurs
Please take the time to critically and objectively observe the behaviour, comments, questions, repeated questions, dumb questions etc of your fellow forex retail traders with that of people who don't specialise in the greatest mugs game on Earth
That's not to say I'm having a pop at you personally, but lift your head out of the forex sand and look at real trading - if currencies float your boat, that's fine, consider currency futures, but whatever you trade, stop looking to jump on someone else's "system" bandwagon
This trading system is similar to mine:
http://www.trade2win.com/boards/560482-post11.html
http://www.trade2win.com/boards/561042-post13.html
It is a modified version of the GMMA (Guppy Multiple Moving Average) trading system with different periodicities for the MAs. The author has his/her own set of rules for buying/selling.
My modified version works for me trading the equity markets. So I think this method would work for the author as well. Basically he was saying: get in at the beginning of a trend (up or down): as indicated by: faster moving MA group breaks the 55MA either up or down. And close at the sign of trend end - faster moving MA group recoils to slower moving MA group.
The GMMA approach is a visual method, not a mechanical rule-based trading system. You would need to spend time in front of the screen during most of your trading session for trading opps.
As with any system, you should spend time observing how it would work, and make necessary adjustments to make it your own to work for you.
price777999
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I duno what you mean really im spread betting and all the markets are easy to trade some have bigger spreads , i just look for a max of 2 points, i dont care what im trading .
whats wrong with jumping on someone else's bandwagon if it works?
rathcoole_exile
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forex & newbies
take a look at this post today on another thread from weebwig:
Any systems foe a beginner?
Hi all,
Being a newbie I'm studying all the free information I can find on how to successfully trade The FX. The flies in the ointment are the endless ads for systems that are promising to make me profitable in very quick time.
This exactly my point - why are there so many bucket shops making it easy for newbies to start trading ? why are there so many system vendors, method peddlers, EA artists ?
Cos unless you are supremely careful, forex is a graveyard for mugs and losers.
Which is why I suggest taking someone else's method isn't the most intelligent course to chart. Develop your own methods, devise a plan and stick to it rigorously, without any of the endless tweaking and fitting that seems to go on in the forex world
take a look at this post today on another thread from weebwig:
Any systems foe a beginner?
Hi all,
Being a newbie I'm studying all the free information I can find on how to successfully trade The FX. The flies in the ointment are the endless ads for systems that are promising to make me profitable in very quick time.
This exactly my point - why are there so many bucket shops making it easy for newbies to start trading ? why are there so many system vendors, method peddlers, EA artists ?
Cos unless you are supremely careful, forex is a graveyard for mugs and losers.
Which is why I suggest taking someone else's method isn't the most intelligent course to chart. Develop your own methods, devise a plan and stick to it rigorously, without any of the endless tweaking and fitting that seems to go on in the forex world
I am sure this will fall on deaf ears, but I will try anyway...buying someone else's system WILL NOT WORK For you...let me explain...
I can give you system that makes money 60% of the time but you will fail to run it properly because you did not create it and do not fully understand it. Even an automated system needs to match the user's personality/emotion trading style.
I can give you system that makes money 60% of the time but you will fail to run it properly because you did not create it and do not fully understand it. Even an automated system needs to match the user's personality/emotion trading style.
price777999
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No not deaf ears mate , i appreciate your advice ........i am working on my own system now ...still like the ema's though .
I am not commenting on the right/wrong approach of a system or technical analysis, just that whatever you do has to come from you and if it is going to be sucessful, will probably require serious amounts of effort and time. The markets are VERY EFFICIENT but are not so much random as chaotic and there are holes/areas where you can make money. In some ways, it is easier for a small trader than a large hedge fund with $1B+ under management because you can exploit it whereas it is too small for the hedge fund.
tar
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OR THERE MONEY
tar
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Hi , i have noticed that u mentioned gold trading many times , can u give us clue y gold ? thanks ...
tar
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Because u trade Gold and oil :In your opinion what is the reasonable tightest stop on gold and oil for scalping trading ?
bnaimy
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I have been looking at this method for a quite some time and made something usefull from it.
First of all ,this scalping method was not made to do scalping, the orignal author made this method to do longterm trades and he was using bigger numbers for the green bands.But this guys have mostly modified the green bands to a lower number so that he can use it on lower timeframes. And he takes the breakout when when yellow bands are above the green bands and above the redline. And price is above the redline.
But the method is mostly useless if you dont know where to enter and where to exit.
If you use it on a 1min it will give you to many false signals. And if you go on to a higher timeframes, it will no longer be scalping.
This method is working perfectly for me, i havemade some minor changes to it to get me in quicker into the trades when it does break. But just taking the trade when yellow above green,and red and price above red will kill you. Will generate to many false signals. You need to use this method over at least two timeframes.to get a sense of direction of marked. And u also need at least 1 oschilator to tell you when there is actualy a breakout.Otherwise this will get you in and then take your stop out.
The reason i like this method is because it basicly tells you who is winning, look at the yellow lines are the shortterm traders who always try to expect a future price movement or trendchange.ANd the greens are the big investors.
Whenever the shortterm traders thing there is trendchange or change of price direction, then they buy and push price up ,but then their role ends, now if the investors follow up on that move, then there will be a rally and a big move will happen.
IF there is no followup from the investors that little push up will loose its air and fall back down. When that happens alot, then thats called chopp and sideways marked.
ANd most people get hurt, cause there is no big money moving the marked.
So the way to trade this is like this :
1:Take everybreak,but get in fast, dont hasitite., otherwise it will to late.
2:Have a 20tick stop, first target is to +10, and u always get that(if ur fast into the marked) and then put stop to -8.Now you free of risk, if the investors followup then price will contiinue to shoot up, but if there investors are sitting there doing nothing price wll come down and take out at -8 and do you a breakeven.
Whenever there is a real move, u will make it big, but here is another issuse people have problems with, they dont know whereto exit, either they exit to fast and see the move pass them by or they wait to long and give away to much of the move.
Thats where the oscilator comes into play, i will not get into witch one to use, but dont use a oschilator thats is sensetive to price action. That oscilator will give your exit and entry in combination with the breakout.
I have automated this on my platform , so all my emotion are out the window, and i like it that way, problem is that, if i was sitting there and looking at it, by the time i see the breakout it would be to late, cause when there is a fake breakout, its importent to get into that fake quick so you get ur +10, that is your insurrence.Because after that first +10 u are in zero risk.
I hope this makes sense, i will not reveal the exact method to get in and out, as that would be giving away my bread and butter. But im sure u smart guy's here can figure it out for yourself.
With kind regards
Bashir Naimy
First of all ,this scalping method was not made to do scalping, the orignal author made this method to do longterm trades and he was using bigger numbers for the green bands.But this guys have mostly modified the green bands to a lower number so that he can use it on lower timeframes. And he takes the breakout when when yellow bands are above the green bands and above the redline. And price is above the redline.
But the method is mostly useless if you dont know where to enter and where to exit.
If you use it on a 1min it will give you to many false signals. And if you go on to a higher timeframes, it will no longer be scalping.
This method is working perfectly for me, i havemade some minor changes to it to get me in quicker into the trades when it does break. But just taking the trade when yellow above green,and red and price above red will kill you. Will generate to many false signals. You need to use this method over at least two timeframes.to get a sense of direction of marked. And u also need at least 1 oschilator to tell you when there is actualy a breakout.Otherwise this will get you in and then take your stop out.
The reason i like this method is because it basicly tells you who is winning, look at the yellow lines are the shortterm traders who always try to expect a future price movement or trendchange.ANd the greens are the big investors.
Whenever the shortterm traders thing there is trendchange or change of price direction, then they buy and push price up ,but then their role ends, now if the investors follow up on that move, then there will be a rally and a big move will happen.
IF there is no followup from the investors that little push up will loose its air and fall back down. When that happens alot, then thats called chopp and sideways marked.
ANd most people get hurt, cause there is no big money moving the marked.
So the way to trade this is like this :
1:Take everybreak,but get in fast, dont hasitite., otherwise it will to late.
2:Have a 20tick stop, first target is to +10, and u always get that(if ur fast into the marked) and then put stop to -8.Now you free of risk, if the investors followup then price will contiinue to shoot up, but if there investors are sitting there doing nothing price wll come down and take out at -8 and do you a breakeven.
Whenever there is a real move, u will make it big, but here is another issuse people have problems with, they dont know whereto exit, either they exit to fast and see the move pass them by or they wait to long and give away to much of the move.
Thats where the oscilator comes into play, i will not get into witch one to use, but dont use a oschilator thats is sensetive to price action. That oscilator will give your exit and entry in combination with the breakout.
I have automated this on my platform , so all my emotion are out the window, and i like it that way, problem is that, if i was sitting there and looking at it, by the time i see the breakout it would be to late, cause when there is a fake breakout, its importent to get into that fake quick so you get ur +10, that is your insurrence.Because after that first +10 u are in zero risk.
I hope this makes sense, i will not reveal the exact method to get in and out, as that would be giving away my bread and butter. But im sure u smart guy's here can figure it out for yourself.
With kind regards
Bashir Naimy
price777999
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ye thats pretty much what im doing but i like to use s/r for exits ....the most important part is using money management so your losing trades dont actually loose they break even .
