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.
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.
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.
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 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?
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.
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)
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 .
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.
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.
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?