System 2 delivered better results and less risk due to me taking smaller trades as compared to system 1.
I feel this is an important point my last trade on System 1 was 2 lots and my maximum on system 2 has been 0.5 lot (I will confirm that I do open two trades on system 2 when I feel I have a more confident setup which is fine) Even with two trades open the max lots size is 1 lot which is half of what was doing on system 1.
System 2 is the clear winner, more trades, more pips, smaller lot size, did a higher ROI in just 8 days compared to system 1 12 days, great in ranging markets.
From now I will be testing this system of ultra fast scalping
On the chart we have two moving averages 60 LWMA (Purple line) 20 EMA dotted line Also I have custom Arrows indicators which is based on moving average also.
I have marked on the chart the entries that would have been valid today It would have given 12 Entries during the London Session and 3 more into the start of the usa session the most would be about 6 pips with some being 20 pips
Wow I am so glad i did not let my trades run today. The GBP is a mess and jumping when the wind changes
I did only 4 trades making a huge 75.3 Pips at 0.5 lots that’s a profit of $376.50
I was expecting more trades than 4 but I did not expect the double trades I opened to run 31 pips. Up until then i had done one 2 trades making about 12.5 pips on a crazy news day
Lots of trades in the end 145.9 pips and a profit of $630
I have now refined the system to only enter a buy when the 20 EMA is above the 60 LWMA and sell when its bellow
Also it is important to wait for the price to candle to bounce of 60 LWMA or 20 EMA Ideally i want Arrows but with today’s huge move the sell arrows did not come for ages so i entered trades on the price bounces of the 20 EMA and 60 LWMA.
Difficult day with lots of spikes but a good result.
To many trades to write on the chart so i will upload the metatrader report for today
The system is based on the principle that price bounces of moving averages. On this chart we have two moving averages
60 LWMA solid line and the 20 EMA dotted line (In the past I have used my custom indicator for Arrows which are just higher trend moving averages, however using them one misses many pullback entries)
Entries are based on the following setups, this is the 1M Chart
Buy Entry
20 EMA is above 60 LWMA
Price bounces on 20 EMA and goes up
Candle opens above 20 EMA
Open Buy Trade
Sell Entry
20 EMA is bellow 60 LWMA
Price bounces of 20 EMA and goes down
Candle open bellow 20 EMA
Open Sell Trade
The take profit shown here are based on price hitting a support or resistance zone
The Stop is when the opposite trade is valid
My Buy and Sell scripts always place a 20 pips SL and 50 Pip TP immediately when trade is opened just in case of political news spikes on GBPUSD, I adjust them soon after opening based on support and resistance.
In this there are two trades that do not work as the price is hitting a strong resistance but then the sell trade recovers some of that loss.
This chart is only for 3 hours of the day after the USA Open, makes 83.5 pips.
Yesterday I blew almost 70 pips using this system the day was ranging between 20 pips for 3 hours and when the breakout happened I closed to quickly worried it would fail.
I would go back to the Scalper Pro system from today onward its much easier to understand and who needs 40% ROI per day 10% to 15% is awesome
I have a EA which opens and closes on scalper pro changes so I rather open and decide if I want to be in it this way the closes are decided for me. Stops me from second guessing.
