Made a small profit last week…other in my trade room did insanely well.
Been nice volitility, ready to tear it up this week!
Made a small profit last week…other in my trade room did insanely well.
Been nice volitility, ready to tear it up this week!
9 winning scalps today…INSANE scalping PA!!
I just started reading this thread…Where is your trading room? Thanks in advance.
Posts have skype link.
I just took this short scalp, confirmed also by my Strength/Weakness indicator (yellow line).
what is that yellow line at your volume ? thanks … looks good. anyway do u look at other timeframe also before you open the trade. i see u are in the m5 timeframe …
It moves according to candle spread and close to show hidden strength or weakness that is not yet reflected in price…so a non lagging indicator in a way.
Yes I look at all TFs, you have to get the big picture, but the 5min gives alot of info in detail.
too bad it is special secret indicator in the black market … … would love to get hold of that … thanks anyway pete.
Where can i get this indicator?
Thanks…
Hey guys, I’m trying to attach indicators in a post and it wont let me, it says error. I can’t post links because a mod will remove it…so how am I supposed to share anything?? I’m trying…
thanks pete,
really want to get that indicator, come on babypips… maybe u can post the link, hopefully mod would see the reason for it … thanks again
If you can compress your file(s) into a zip archive you can attach them.
thanks…will do.
I have made scalping nice and easy, and profitable, IF you stick to the rules.
I will be back later today to post the rules. Meanwhile, you guys can load it up. It should look like this…
Petefaders 5min Scalp.zip (25.1 KB)
OK, I’ll do the best I can to explain how to scalp the 5min using the zip files in the last post.
Entry is when the shaded red or blue on the chart change color on a 5min candle CLOSE.
50 EMA (purple) gives general direction. If price is above it, or if its slant is up, then longs only. It also acts as supp/resist.
14 EMA (red) Trade only with the slope of this line, not against it. (If price is crossing back and forth on the 50 ema, this line can help determine longs or shorts by being above or below the 50 ema.)
OSMA (looks like macd) must be above zero for longs, below for shorts (this lags a bit, I am looking to replace it with something better soon).
The pivot points and murry math lines will change everyday to give to supp/resist levels, also drawing your own fibbs and trend lines is good, but not crucial.
Only trade during active times for better probability.
Including VSA is good, but not nessesary.
Here are our recent entries on EU:
This is meant for scalping so stops and targets are small, 15 to 30 pips…always keep your stops in place and keep a 1:1 r/r at least.
Remeber this is just playing the probabilies, as with any system, so if you take a loss, so be it, just stick to the rules and find the next setup.
I would recommend trying this out on a demo. If anyone does, let me know your results, or if you have any questions/ideas about the rules etc.
**This system now has it’s own thread called “Mad Scalper.”
I started a thread called Mad Scalper to devote to this system.
*Maybe the mods can get off my back now since I shared this awesome system for free. …ha, I doubt it.
http://forums.babypips.com/free-forex-trading-systems/30927-mad-scalper.html#post151917
I just made “Senior Member” …whatever that means. I stand corrected. :o
Thanks for this thread, this is interesting and I suppose a lot will benefit from this.
Some really wild stuff today…was a buying frenzy, first on gbp, then they bought up a CRAP load on yen…as I write this it looks like they are buyuing euros…some wierd stuff, the day before Thanksgiving. I actually made this call but I admit, I didnt expect such a huge move. VSA had confirmed it, as well as S/R. We had a murry math reversal level, AND R1 with a buying climax for VSA.
This is a chart from someone who entered the trade with me in my chat room. Cheers to that!
Another perfect VSA setup today on GJ, +65.