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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.
cable worked perfect again today. target was 100 and hit.
Hi droesparky,
I am very interested in your method posted above. I have been observing it for the past few days. Would I be correct in saying that yesterday, ie 25/6/08, there was a loss on the cable? This is not to put the method down, but to make sure I am looking at it correctly.
yep 6/25/08 was a loss, I took a 50 pip loss on it. And further more one of the short comings of the method is you miss out on longer term trends. however it is great in a see saw market.
chart below shows my loss from yesterday and no entry today 6/26/08.
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Dont drop your stop!
Last edited by droesparky; 06-27-2008 at 04:17 AM.
yep 6/25/08 was a loss, I took a 50 pip loss on it. And further more one of the short comings of the method is you miss out on longer term trends. however it is great in a see saw market.
chart below shows my loss from yesterday and no entry today 6/26/08.
Thank you for the reply. It is a very easy method.
Even though the that day was a loss, i think the next day was another 100pip winner. So if this gives u 2:1 for r:r, then those occasional loss days are just a blip.
The 26 was a no trade because the signal was long and the stoch was over 80. so I didnt enter that trade.
Todays trade signaled short and I ended up with a breakeven. It moved low enough to set my stop at BE then later came and knocked me out.
this is what I mean about a long term trend, if thats whats happening and cable is making another run for the high then this method will have a tough time catching those pips unless price takes a long enough rest to let the stoch move back down.
I am french and this is my first post here.
I search a reliable scalping system that would be able to reach a daily average of 25 pips net.
Trading system with Majors on TF 15mn
I am french and this is my first post here.
I search a reliable scalping system that would be able to reach a daily average of 25 pips net.
Trading system with Majors on TF 15mn
Anyhow, on your net daily average 25 pips goal, you may not really need a "reliabe scalping system" with the major pairs especially on 15 minute timeframe. A couple of simple MAs may do the job for you as long as you filter and time your entries and exits [see sample screenshot]. Some caution though, it really takes more than and beyond systems and indicators to be consistently profitable netting 25 average daily pips and for that matter, any amount of pips.
Linear Mode
