Dream journey to million - from Scalping

Happy to hear it, Sheldon: that [I]has[/I] to be a move in the right direction, for you, I think. :cool:

Hi lexy,
Thanks. I look at your many threads on forum.
The surprise thing is that my weekend plan is about you. I want to backtest your shared half-scalping strategy by EA.
Do you mind I write your shared strategy on forum into EA codes, then backtest it?
I hope your halp-scalping could improve my scalping skill.
I still like half-scalping.

I have never actually tried to describe the way I trade, here, in any detail at all. (Not because I want to be “cagey” about it, but because I’m what most people would describe as a “discretionary, price-action trader” and it wouldn’t be possible without effectively writing a whole book. But broadly, I trade “Ross Hooks” and a small collection of very reliable, closely related bar patterns).

The three different little indicator-based systems I’ve previously described here aren’t what I do, myself, at all - they were just part of my learning process, from years ago, and were offered in response to specific questions here about indicator-based systems. They’re certainly not “semi-scalping”. They were designed (and offered here) as a way of gaining experience in patience and discipline.

Sorry - probably not the answer you expected! :8:

Thanks your patient comment.
I will backtest your below strategy.
We will see the backtest result.

Chart set-up:
M10 forex bar charts during their main trading hours (e.g. EUR/USD and/or GBP/USD when either Europe or New York is in its normal business hours, but avoiding the opening of sessions by half an hour and their closing by an hour; choose only pairs with low spreads, such as GBP/USD and EUR/USD during their appropriate sessions)
Simple moving averages: 6 and 18 periods
RSI: 10 periods with a horizontal line drawn at 50 (if your charting software requires two levels to be specified, just put “50” for both of them)
Full stochastic: settings 5-2-2 with horizontal lines drawn at 62 and 38

Entries:
Enter long at the start of the next M10 bar after an M10 bar has closed with the fast moving average having crossed up above the slow moving average while both moving averages are rising (i.e. “no dead crosses”), and the RSI is above 50 and rising, and both lines of the stochastic are above 62.
Enter short at the start of the next M10 bar after an M10 bar has closed with the fast moving average having crossed down below the slow moving average while both moving averages are declining (i.e. “no dead crosses”), and the RSI is below 50 and falling, and both lines of the stochastic are below 38.

Management:
Stop-loss fixed at 9 pips
Take profit fixed at 15 pips

Good, good … I’ll be very interested to see how you get on with it, of course! :cool:

Hi lexys,

I use MT4 to backtest it, there is not M10 TF,
so I use M5 and M15 to backtest it,
your system is fit for trending, but ranging is a too much,
result is not good, but maybe it will be good for M10 TF.

Scalping is really most challenging skills, I still need to improve it.
Appreciate anybody to shara your piece of scalping skills.
Seem I am good at catching the big run,
Share one my position strategy,
Long usdcad +100 pips, BE now and still running, target +200 pips.
And now I watch the other next big running,
Long audusd,waiting.
Snapshot at next reply.

Usdcad, up break, long trend

Audusd, reach strong support, wait and patient,


Hello Sheldon! Good luck on your real journey! And I hope, you’ll get it. By the way, I don’t have such a big target like you! Basically, I am also a scalper and my monthly target is only 10%, that means, end of the year I may get overall 100%+, that’s enough for me! In addition, really scalping trading is my most favorite trading style!

Hi Jonathan,
Could you please share some snapshot picture of your scalper trade? Or what’s you check list before setup order? Indicate index or PA only?

Anyone catch Audusd big run?
I am busy on dayjob, miss this big run,
But my EA catch another nzdusd big run.
EA long nzdusd, tail stoploss now.

so long time not here, still see some familiar friend here, nice to see you all.
Now I trade Forex only with EA, never manual trade because of my personality.
After continuous 5 months EA profit, I find that manual trade with profit will be very difficult for most of person, including me.

I need to know can anyone take scalping as a regular trading strategy ? it can be profitable ?

I have tried scalping manual, but fail. but I think it can be profitable. Profit with scalping need most of professional skills and emotion sell-control capability and execute system command like machine.
I like scalping, maybe some time later, I will try it again:wink: after enough profit from EA.

I already have used EA , yes it bring profit of course but I didn’t get consistent profit by means of this trading Robot. Problem is here. I need to consistent profit.

A profitable EA require the owner should have very professional Forex trading skills. Current EA doesn’t own the real soul, still need be guided by human. When you know why you can get consistent profit, after that, Let EA to finish your goal. Never believe the result of EA back-testing. The last one EA with consistent profit is wrote by my Forex knowledge, and never back-testing. Years ago, I use a EA with excellent back-testing result, but fail to get consistent profit.

I got my point. Thank you for reply

You are welcome here.

Scalping is very difficult to handle because with live trading we become very confused in quick decisions. It can be a total loss when you use big lot and try to get quick earning from fast moving market. This dream journey is applicable only after much practice.

Yes, I agree with you. So I will get the profit from EA, and use some profit to scalping only purpose of amusement, it’s only my personal hobby.