Lets Get Real - page 12
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OK. As requested, I am uploading another set of indies with the template. I have two sets, one for 4 digit brokers and another for 5 digit brokers so you will be ready to go when IBFX switches over.
As for how I managed it this week, it really comes down to the HAS indies. On the 1min chart which is what I trade, there are two of them. One is set at 11 and the other at 55. The 11 is for the 1min and the 55 represents the 11 on the 5min chart. I use the MACD as confirm for trend and sometimes I pop up the woodies and stochastics too.
My trades were done with the scalp scripts. Generally I set it at 5% risk, 10 pip stop and 10 pip TP. However, I don't place the hard stop with the broker. You get taken out if you do. Trade only in the direction of the HAS, and preferably both of them should be in agreement. Avoid entering on spikes, wait for a pull back if you can. If I am not real sure, I go with 2% risk and add 1% trades along the way if it goes against me.
I notice that the 5% trade uses about 55% margin so I only do one at a time. What I will try to do this week is watch for the 5min trend direction changes and place a 3% trade with a 100 pip TP. Then I will also do the 10 pippers as it moves. That way I may be able to grab a bit more of the move.
Either way, you should be able to get at least one 10 pip trade just about every hour. I still pay attention to the 1hour candle direction too.
Set your hotkeys for the scripts and don't be afraid to hit the Close All script and take a few pips if it looks dicey. Draw trend lines and watch for reversals. Don't stay in a loser especially if the 5min changes!!
Steve
Dear Radatats,
It is a great system and I saw your statements for the last week........It is just great and awesome.....
So far for scalping I saw many systems but I think yours is the best and I thank you from my heart to share it with us and I am very much grateful to you as you uploaded the system again for me or us......
You are not only a good trader you have a good soul.
thanx Radatas......
Another decent day of trading. Hit some good ones and got out too early on the last ones. Looks like it may go up nicely now so will see about another entry soon.
I used to look for the perfect entry and get pissed when I missed it, never to get in on the move. Now I am taking numerous trades and still with the trend direction and locking in my profits as I go. What a difference.
I encourage you to use the link in my signature. Show your trades and we can all grow together.
Steve
Rules?
Is there a place one can go to learn the "rules" of trading this strategy with the given indicators? I loaded the template and such but don't know how to use it.
Well it was bound to happen. I got out of sync today and screwed it up. I was behind the curve all morning and them before lunch it started to come back for me. I was almost back to even when euro rallied and I threw in the towel. Don't really know why I felt so sure it would drop but I just couldn't get long today.
Oh well, I am still up and I'll get it back tonight!
Steve
Need Two Indicators
Hello All,
I could use your help with finding the Primajaya Over RSI(13) and SuperWoodieCCI-2 indicators. They look incredible!
Thank you very much.
SuperWoodieCCI-2 indicator is way to cool
i like it because it simple and informative
superwoodiecci-2 is in the zips at post 112,
here is the rsi you asked for,
Steve
Awesome results Radatats!
Thanks for the template you posted last weekend too.
They sing your praises over at the Forex Factory where your work here is recommended reading!
They start using your tools in the thread here:
Forex Factory - View Single Post - FX-50 Great Scalping System
Wow. What a week. This was by far and away my best week of trading. I hit 51 winners to 2 losers. That is a 96% win rate! Now I know they were not all big trades but the end result is still a 250% gain for the week.
Today I stuck with some trades longer than I should have and nearly had my ass handed to me. Now previously I would have closed them out and taken the loss and cried all afternoon when they came back. This time I let them go and trusted my gut and it worked out for me. You can see on the pics below where my trades were and how it came back.
See you all next week.
SteveThanks Radatat
Thanks for the indicators info. I really appreciate it. Could you post your template again, or let me know which post it was on last weekend?
Thanks again.