Thread: Premji Sure Fire 30 pip Scalper

Originally Posted by morimpre

i usually exit once the ZZI switches to the opposite color or I see a candle formation that may show the end of a current trend. Sometimes maybe the price is approaching a support resistance level or 00.

Hi morimpre,

Thanks for posting your system. Do you use the default values for the indicators used? If not, can you please post the template?

Thanks

Yes, I use the default indicator settings.

thanks

Originally Posted by morimpre

Hi, can anybody modify the mega trend indicator and add a third color, maybe yellow when the trend is flat and you should stay out of the trade. I have attached a screen shot to illustrate this area.

thanks, this would be very helpful!

I found this indicator online, its the same thing as the megatrend but has three colors.

Great, much appreciated!

I first want to say that this is a very nice system. Very basic and simple and in my eyes, that's the key to a successful trading career. I do have some bad news that I don't think has been brought up yet in my reading of the thread thus far.

The Swing ZZ indicator repaints. For example if price makes a high and looks like it is ready to fall, Swing ZZ will move up and dictate the high by giving you the blue dot. If price falls a bit and then shoots back up past the previous high, the blue dot will move making a new high.

If this has already been discussed and it has no ill effects on the system, I'm sorry for bringing it up. I just noticed it by backtesting it on my trading simulator and I saw the Swing ZZ indicator repaint from time to time. So all of the charts in hindsight will be perfect as you sell at the top and buy at the bottom but those who have actively been trading know that is just impossible.

I don't want to bring any bad feelings to the thread but that is what I noticed in my research.

Hello, im glad you brought this point up as it may need some clarification. Yes the swing zz indicator repaints but it is not necessary for entering a trade with this strategy. We use megatrend and zzi to enter a trade along with a bullish / bearish candle, once you enter a trade the swing zz is just where you put your stop loss minus a pip or two, so if the price reverses, your stop is hit and yes the swing zz would also be hit and repaint. I hope this helps.

thanks!

Thanks for clearing that up. I understand what you are saying. I'm curious to see how successful this method can be. I think it can be the final method that someone needs to try.

The key will be to keep it as simple as it is right now. The problems begin when people start throwing different indicators and wanting to create EA's, that's when the threads get all messy and people forget what they came to the system for in the first place...to make money.

Good trading and I will be following along.

Thanks Lucky, you're absolutely right. Once we start adding a bunch of colors, bells and whistles to the system things can get complicated. Spending 1-2 hours daily making a hell of an income with a very reliable and relatively simple approach would be good enough for me. Ill keep posting my daily setups and I hope this system really helps people get back on track as it did for me.

thanks!

Originally Posted by MarthY83

This system works (this week) good on GBPUSD, EURUSD better on GBPCHF and best od EURCHF. All on M5 timeframe. I use S/L 12pips, T/P 20pips. I have good results with TradeManager - move stops, trailing stop, profit target...
See attachment, TradeManager is usable for diffrent 4 or 5 digits platforms MT4.

Do you trade only at the opening of the US market or do you trade whenever you see viable setups?

Thanks.

I Usually trade the opening of the US markets, I Usually wait a few minutes to let things settle down if the price is close to the daily pivot. But if the price is clearly above or below the pivot and the market has opened, I'm comfortable getting in.

thanks!