Mad Scalper

[jalapenoninja]

Hi Holyltd,

Don’t despair! But unfortunately there’s no “system” to be honest, the indicators in madscalper just ensure you’e trading with the trend and you wait for a nice pullback.

Indicators:

• 50EMA & 14EMA (standard MT4). when the 14 is above the 50, down trend, and vice versa for uptrend. - - Support & Resistance: “Murray Math” Support & Resistance. Don’t trade “into” these.
• Market Session (not part of mad scalper but very helpful): adamjowett.com
• daily High & Low indicator: google this, I’ve changed re-named mine from a while back,

Read, study & take notes from all of this forum thread, and all of Petefader’s other two VSA threads, then watch his “No Supply No Demand” videos. Actually watch all of them and take notes from everything.

I studied and learnt most of my price action from Lance Beggs at yourtradingcoach.com, I highly recommend his price action course but you can learn a lot from the free material.

Sorry to say there’s no magical bullet/set of indicators, just a lot of study & hard work, trading is no different to any other job. It’s like fishing and playing poker, and takes a while to learn.

Any questions though, feel free to post them here.

[jalapenoninja]

Hi MadScalper folks,

It seems that the original indicators posted in post #1 aren’t compatible with the new version of MT4, PeteFader trades his VSA system primarily these days over here and I’ve moved away from the system as set out in post #1.

With this in mind, I’ve started a small forum here 5m TF Price Action Strategy. Not trying to steal Pete’s thunder, as I’d highly recommend reading through this entire forum, and then heading over to his VSA threads.

[jalapenoninja]

Dear jalapenoninja, it’s not posible. Actually, the folder of the system is several separate indicators, they have to be manually added to the folder of indicators. But each one of them is uncompatible with the newest version of MT4…

Hey Holyltd, I’ve started this now: 301 Moved Permanently

[jalapenoninja]

Just re-reading the thread from the start Pete, as I started my own thread, minus the Dev Shadows, + NSND & SV, I think we need a MadScalp 2.0 thread eh They’re very reliable setups.

I revisited this system over the weekend. It’s amazing lol. Follow the signals that are in line with VSA and basic technical analysis and you get some insane entries. I’ll be trading it again on a side account. Mad Scalping!

[jalapenoninja]

Not sure if you’re still around the forum traps Tassie, but…

Agree with what you say about just trading what an indi tells you, but my take on MS is it has us trading with a trend, waiting for a pullback, entering on confirmation of a move and respecting S&R? (almost fundamental trading). I’ve thrown Stopping Volume into the mix and a few other key S&R levels. Thinking of a MadScalper 2.0, I really like the simplicity of it.

I traded it demo only and hadn’t had a Live account at that stage. it was back in July '11 before I had any VSA knowledge. Here is a link to the months results from myfxbook 2013-07-23_0111 - stewartk’s library

I had tried it on other demo accounts and found the EU and GU were the best pairs by far at that stage, however, I would not be guaranteeing anything in todays conditions because the market has a much different behaviour the last little while. I have since learned that the market behaviour changes and with that change, strategies become hot and cold. I nailed it with VSA April '12 with 17% for the month, but then lost it just a few months later when the EU was falling through consistent stopping volume and did not trade as it would traditionally.

I felt quite constrained in the fact that MS was telling me what to trade without understanding why as such. That constraint led me to learn VSA and from there, followed Petefaders two VSA threads and learned a heck of a lot there as well.

[Adrienschmitt]

Hi Jalapenoninja,

I have stopped trading for two weeks now, unfortunatley it seems that some of the setups seem to happens betwewn 7-12 GMT which is precisely the time I am studying . Volume seem to be very high during this period and I seem to get one setup in the earlier hours of London session. The setups seem to be less reliable after this time.

I have so many questions but is that something you reconize also? Do you think it’s possible to trade during the later hours of London session?

Thanks,

[FOREXunlimited]

I have so many questions but is that something you reconize also? Do you think it’s possible to trade during the later hours of London session?

Thanks,

The later hours of the London session, in my opinion, are the best times to trade.
This is when NY and London overlap…

[jalapenoninja]

Hi Adrien,

For me personally, I’ve found that either from the Frankfurt Open for 3-4 hours are the best time to trade, and also the Tokyo Open + 3 hours. The New York Session sometimes flows nicely, but this past month or so has had one huge move followed by very low volatility.

But possibly (and I haven’t looked into it), the USDCAD or AUDUSD could move quite nicely during the US session. The hours leading up to the NY session are a bit quiet, as I think the trading world is taking a break between the London movement and the NY Open.

[jalapenoninja]

Hey Pete,

Not sure if you still lurk here. Did you ever have a look over at Janquie’s 1m TF method that borrowed from MS? It’s quite good fun, same prinicples but can get you in on a faster move where the 5m TF doesn’t offer up anything.

Have to admit, MS is great fun with the market is moving! (but not so much when things are bouncing around in a range)

[pipmatix]

Hi JalapenoNinja,

How is trading going.

Out of curiosity, which news indi did you settle on in the end?

Cheers,

P

@jalapenoninja

Hi Folks,

I’ve been a bit quite posting here as I’m not using the original set of madscalper indi’s from post #1, but still the same principles. Here’s a setup from this morning’s UJ.

A nice breakout of the opening Asian range (the high and low of the first 5 minute candle), the trend is up (50ema) and there was a nice pullback to the 14ema. A nice bonus was the “No Demand” volume that showed up on the candle prior to entry.

For an idea about “No Demand & No Supply” youtube Petefader’s videos.

Cheers & good trading

[jalapenoninja]

Hey pipmatix,

We’re fairly active over at Pete’s VSA thread if you’d like to join in there. I found that the indi NewsCal 1.07a is quite good

[pipmatix]

Thanks for the indi advice.

And thanks for the invite - I’ll have a lurk

Hey pipmatix,

We’re fairly active over at Pete’s VSA thread if you’d like to join in there. I found that the indi NewsCal 1.07a is quite good

[maxshrek]

Do the Devmashki indicator repaint?

[jalapenoninja]

Hi MAxShrek,

To my knowledge and what I’ve seen on the charts when using the DevMshi indi, no it doesn’t repaint. But feel free to verify this for yourself.

Do the Devmashki indicator repaint?

[babypips4]

I am not a scalper , but still having an idea what does scalping means .This is all about targets .
This is Scalping after all ,so I like to take some profits off at the first sign of reversal ,
May be some guidelines may be set based on EMAS just like entries , I will explore that .

[Epidot]

Why has this thread died. This strategy is amazing. Seems people started using 1min TF which I think is a mistake. Stick with the 5min based off support/Resistance on 5 and 1 hr chart along with Fib. Also adding 200ema helps take out bad trades.

[hailang]

Looks very professional. So it is supposed to work better on active times right?

[Epidot]

Yeah think so. All I can say is that I tried this on Friday only for 2 hours. Won 3 trades across 3 currencies. That was £370 in 2 hours. No losses. Call it luck or what but I am looking forward to trying this tomorrow and the rest of the week. Can’t just rely on the signal though. Need to look for fib retracements along with sup/res . I added a 200 EMA also and will only trade when the 14 is below the 50 which is below the 200. When all line up.

[IamJukeSA]

Hey Pete.

I know it’s a bit late now, but I’ve just come across your thread and I really want to try out this system. Can you please attach the zip file if it’s not too much trouble?

Juke.

[dmngo]

Hello guys,

first of all a big thanks for Petefader for the system. I am using it, with good results. Is there anybody else who is working with this system?

regards,

d.