Mad Scalper

Hello all,

I’m new to trading (3 weeks) and I have had some lucky and unlucky experiences on demo accounts.

I’ve used Blessing3 EA, Cowabunga Trading System, Gann Box, and now looking into the Mad Scalper Method you guys are presenting.

I tried the scalping method today for the first time, ended up with just about +5 pips overall. I missed some good opportunities because I was sleeping.
This method works pretty well IMO.

I have a few questions about this method and I hope someone can help me answer them.

1.) which TF works better for you? 5M by pete or 1M by Jan?

2.) how many pairs, at max, should I concentrate on when trading and which are the best for this method? Today, I used this method on EU, GU, U/CAD.

3.) If trading on 1M TF, what is a good TP target? Should I consider trailing stop loss?

4.) Does the MM rule of 2-3% still apply?

5.) How many trades should I make a day, or, should I just set a daily goal? (when goal is reached, i stop trading)

Thanks so much in advance!

— still a noob :o

What a great 2 days we have had… Amazing.

Does anyone happen to know a facilty in MT4 where we can replay days activity allowing you to execute as well?

I am trying to train someone up on this system so they can try replicating my deals.

Thanks

Hi everyone from sunny Wales, U.K.

Can anyone tell me how to create the shading which goes with the candlesticks as I only use the I.G.Index advanced charts; This company is regulated by the F.S.A. of the U.K.

If this is not possible, is there any other way of calculating how much drawback to allow before an entry is achieved.

The files do download but they are files that windows 7 does not recognise.

Thanks.
Welshy1

Hi Welshy

I too use IG. I just use MT4 for charting. Download MT4 then apply the downloaded file to MT4. Im using windows 7 and works fine

Hi Janqie,

Hope your trading has continued to be good. I am trying to understand your substrategy 2 but I don’t think I have grasp the concept. If I don’t misunderstand, your #1 play is that in a long trend, you set your SL point in the direction of the trend as it progresses. SL point is set at the last Lower high or highest low depending on downtrend or uptrend. However, I don’t understand 1) how to place entries in your substrategy 2; 2) how to identify the presence of a possible big trend and 3) how to exit at the end of a major trend.

Would you kindly enlighten me again. Thanks!

Did you ever post a template or indie for your setup because with the original petefader’s indies & template I have so many S/R & PP lines that it can be confusing. Sometimes when I see an entry but a horizontal line is 4-5 pips away I wait to see if that line will be crossed. In short I’m getting in too late on entries and thus losing some profitable pips. Many thanks for all your imput. D

Do we use Heikin-Ashi for this system or just candlesticks?
Thanks

Also does anyone know how to get a volume indicator on Oanda?
Im on a mac so cant use MT4, Any help is appreciated.
thanks

Hello, someone recommended this mad scalper to me today. i have installed all the indicators and it really looks fantastic in hindsight. However, i am also a fan of candlesticks and would love to know where this candlestick thread is… " Tymen’s excellent candlestick method ". I could not find the thread.
I’d be happy to post any results here, i think this system may work very nicely for me.

Thank you and Thanks to Pete for sharing your system.

I have found Thymen’s candlestick system! Thank you!

Hi Petefader.
I started using your system today and I already made 30 pips with it.

Great system, great job and thanks for sharing.

Dyogenes - Brasil

This IS the most profitable system I’ve used also…85%+ success rate in the last 30 days; over 150+ pips daily!

whats up pinoy boy? welcome to babypips.

my wife is Filipina :smiley:

1 Like

@johnnykanoo - thank you, then you must eat some good food! :slight_smile:

pinoyboy, are you using the basic, original core system outlined in the first post or do you also use the expanded ideas provided by janqie?

I had a great success rate too but spent an awful lot of time at the screen & didn’t garner nearly as many pips as you have. What pairs & what times do you trade? Hope you don’t mind my asking. d.

Hi there, Janqie did post her template on page 79 of this thread. :slight_smile:

cheers.

*edit: entered wrong page number earlier.

This is the primary tool I use; however, I also ensure confirmation with other tools. Lastly, in order to get that many pip in shortest amount of time, I trade the top pairs all at once - most liquid anyways.

EUR/USD
EUR/JPY
USD/JPY
USD/CHF
GBP/USD

i use a mac book pro with parallels, XP & mt4 - works fine, even with two mt4 platforms open at the same time

Hello guys!
I’m sorry for not being here for a week tryed to find something for 1 min system to get rid of personal judgement as much as possible. And I found what I want. Tryed to trade it this week and had beter results as I could expect. Think it will be much more easy for everybody that
I will start a new MadScalper thread to trade only 1 min timeframe and will make all the explanations as well

This is how my setup looks now :slight_smile: If anybody is intrested stay tooned I will be back :slight_smile: