Scalping systems - page 10
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I've done my fair share of bashing IBFX... even on their own forum. However, I'd like to say the following about them;
They are, more than likely, the best MT supported broker out there. Before I blew out my last account 9 months back, I was moving some big sized lots (scalping)... and no problems. The only issues I've ever had with them in the past was when their servers kept crashing, and the crazy spread widening during "non-news" times. Both of these issues have long been resolved.
I'll say it again... IBFX, imo, is the best MT supported broker out there. This goes for order execusion... and integrity of your funds.
As far as the "broker is out to get" stuff. I used to think that way too, until I started trading with the trend. Look into it, you'll quickly realize the broker had nothing to do with your failures all along. My last blowout had nothing to do with IBFX... it only had to do with me. Lets take some responsibilities for our actions...shall we.
Worst broker for scalping - FXCM. Not sure about them now, but back in the day when I had an account with them, they would stall orders regularly; jag-offs.
Peace,
MMSounds like you have acquired wisdom.
Sounds like you have acquired wisdom.
I wouldn't go that far. I had that wisdom when I blew out my last account... it didn't seem to help. If I did, in fact, acquire some "new" wisdom, would you happen to know where I can trade it in for a healthy dose of discipline?
By the way, I might have to eat my words on IBFX being the primary broker of choice for MT support. I've been doing some research on TradeView Forex | Online Currency Trading | and it's lookin... pretty, pretty, good.
Your broker must allow you to scalp.
In another case, broker will kick you out.
See attachment.Thanks
Bongo.hi bongo,
in your post is an statement.
which EA is this?
Have a look into this broker. Metatrader via ECN!
ATC Brokers - Forex Broker - Metatrader - No dealing desk - Currency Demo Trading
Have a look into this broker. Metatrader via ECN! ATC Brokers - Forex Broker - Metatrader - No dealing desk - Currency Demo Trading
So, this is a ECN that's using the Metatrader platform?
So, this is a ECN that's using the Metatrader platform?
That's what they claim. It's new. I just got their demo a few days ago.
Pretty interesting.
Pretty interesting.
Wanna Be Rainbow
This is a solid system for anyone. A newbie can quickly get the hang of it.
I prefer it over the full rainbow, because the enty points are easier for me to see.
It seems to work on any pair, however I only trade cable. (it works for me)
I like the 30m or 1h timeframes, however it seems to work on most timeframes.
use simple ma's 3,5,7,9,11,13,15,17,19,21,23,25
and Stochastic 30,10,10
thats all you need.
Buy signal is when price closes above all the ma's and the stochastic is below 20, or stoch is moving up from 20, Do not buy when stoch is above 60.
Sell when price closes below all ma's and stock is above 80, or stoch is moving down from 80, do not sell when stoch is below 40.
You can get the hang of it very quick.
Dont trade a guess that it will close past the ma"s, and dont trade if you miss a trade, just wait for the next one.
I prefer to set stop to breakeven when Im up 15 and let it run with 100 as target. I will exit trade if stoch moves to the extreme opposite of the entry.
You can stop out if price closes on the opposite side of the ma's from you entry.
The attached chart shows a good entry however you can notice that stoch never really went below the 20 and had not yet crossed. Entry was yesterday and exit today.
The exit shown is when stoch hit the high, you can still go for the 100 pips.
Thats really it, the system has been working for me for several months and need no tweaking or other indicators.
I added a couple of templates below and one requires the indicator upload below.
While you can use this on short timeframes for scalps I guess. It is not really a scalping method so I was trying to place it somewhere else. But what ever you think.
Cable did not have a set up today so I ventured away from the norm. I didnt let it run today because its was friday and I dont normally stay around to long on friday, and I was in on the usd/chf which I dont normally trade.
It worked though.