A profitable Scalping strategy - page 2

New comment
 

I am watching the chart setup for hours now (since 11pm est, 5.5hrs now) and I barely see a signal basicly because the ADX14 on the tick chart is never moving significantly over 20, and if, it drops below again in a matter of seconds.

If I understood right we have the following rules for a setup:

LONG:

1min chart

Damiani: TRADE

Mom: not overbaught spiking

Tick Chart:

ADX 14 > 20 with +DI dominating

DMI 14 crosses 20 up

is that correct?

 

How much ticks you use for your chart?

ADX on a 1 tick chart looks worthless to me.

5 ticks looking much better for the ADX.

I hope you could post a screen shot.

 

ADX on the tick chart moves insanely fast. let me put it this way. Say RSI on the 5 min chart has moved from oversold to overbought. ADX on a tick chart for the same period would have moved through 20 at least a dozen times. Again, it just depends on when you are trading.

ADX is a measurement of the trend. Basically when it moves above 20 it's just saying "hey, the price is really moving here." It happens constantly in a cycle.

I probably did get the times wrong, thanks for correcting it.

O! I might know what's going on. Sorry..if your tick chart ADX comes with DI+ and DI- attached remove them. When your looking at your tick chart ADX you are ignoring the +DI and -DI lines. Just use the third line, the line that is a measure of trend strength. That's the line to watch. When it breaches 20 and if MetaTrader is telling you you can trade then go in the direction indicated by DMI on your tick chart. The momentum indicator is used as a guide only. If it's severely over sold be wary of sell signals. Be looking to buy when it hooks upward.

 
Dan S:
How much ticks you use for your chart?

ADX on a 1 tick chart looks worthless to me.

5 ticks looking much better for the ADX.

I hope you could post a screen shot.

I'm not backtesting, I'm trading live.

 

Any luck on those screenshots of system cyclesurfer?

Thanks

bh4v1k

 
Cyclesurfer:
I'm not backtesting, I'm trading live.

I was not mentioning backtesting.

Question was if you trade from 1 tick charts.

Because in my 1 tick charts ADX rarely moves over 20 and if you wait for DMI going below 20 to cross up again, the move is mostly over.

In the time that DMI needs to cross below 20 to cross up again, ADX is below 20 again.

I will post a screen in a few.

I use ninjatrader for tick charts.

And I agree, a screen here would help alot to understand the trade.

 

Here is what I mean.

This is a 40 pip up move last night at around 1am EST.

ADX moves up over 20 when it goes.

But when DMI crosses 20 up again ADX is below 20 again.

I dont see any signals on my charts the way you describe.

Also, the entry is pretty much at the end of the move.

There must be something I am missing, or our charting package shows different things.

 

Hmm, I start to believe we are looking at different DMI`s aswell.

On my chart you see the Dynamic Momentum Index.

Could you please clarify your charting? I am trying for hours to make sense out of your method.

 
Cyclesurfer:
O! I might know what's going on. Sorry..if your tick chart ADX comes with DI+ and DI- attached remove them. When your looking at your tick chart ADX you are ignoring the +DI and -DI lines. Just use the third line, the line that is a measure of trend strength. That's the line to watch. When it breaches 20 and if MetaTrader is telling you you can trade then go in the direction indicated by DMI on your tick chart. The momentum indicator is used as a guide only. If it's severely over sold be wary of sell signals. Be looking to buy when it hooks upward.

Aaaah! I re-re-re-read it 10 times and I think I get it now.

If Damiani says TRADE, you wait for the ADX on the tick chart to break 20 and than enter in the direction of the dominating line like in this screen.

Please correct me if I am wrong.

 

Plz provide CHART!

Dan-s, what platform are u using?

1234567
New comment