Automated4X Highly Accurate 20-30 pip Premji Scalper

blizard · May 2, 2011, 4:45pm

Hello fellow traders, I have been trading the 4X markets for a few years and have found a very good method by combining a few indicators I have found along with some common Forex knowledge. I personally use this setup on all 1 minute charts and Sometimes 5 minute EUR/USD chart and I have done rather well for myself about 20-30 pips daily. The system is very simple and as i said its a combo of a few indicators I have found and I have just combined them in a way that suits my trading style. Anyways thanks for looking, and I hope some of you can make some money using this simple method. I have attached todays trade setups below the rules.

Step 1, Only take trades in the direction of Mega trend (also change mega trend method to “1”)

Step 2 When ZZI14 is below “-100” indicated with the GREEN color, look for a strong bullish candle formation ( A candle that CLOSES above the OPEN price of the previous candle on a BUY trade. Of course The reverse is true for a Sell trade)

**ALSO, Please make sure the bullish candle formation closes above MEGA TREND for a stronger signal.

Step 3: Place a stop loss a few pips below the swing_zz dot.

I have indicated these entries in the chart below with vertical red lines

Note: Also take into strong consideration the current price in relation to the daily pivot. If the price is below the daily pivot, i prefer taking only sell trades. If the price is above the daily pivot, I prefer taking only buy trades.

Allindicators.zip (9.75 KB)

blizard · May 2, 2011, 6:16pm

I will be posting my daily setups so you can see how simple and effective this system really is. Also the stop loss is usually very tight 5-8 pips. (also change mega trend method to “1”) this is better for scalping the 1 min EUR/USD.

thanks

mojo6911 · May 2, 2011, 9:28pm

Thanks. I’ll check it out.

blizard · May 2, 2011, 11:44pm

Here are 2 more easy setups during the Asian secession. 15 pips each before bedtime.

thanks

pavery1 · May 3, 2011, 4:11am

Hi blizard
Do you take profits when the price crosses the mega trend line or when the next zz dot is formed?
Also what is the mega trend line? ie SMA, EMA etc…
cheers

novies · May 3, 2011, 5:28am

Hi blizard.

Can you share your template, too?
Thanks.

blizard · May 3, 2011, 11:20am

Here is the 5 minute setup for today, easy 15-20 pips. Ill post the template later in the day.

thanks

blizard · May 3, 2011, 11:24am

Here is the template. My TP is 5-8 pips on the 1 minute chart, and 12-18 pips on the 5 minute chart.

thanks

premji_automated4x.zip (975 Bytes)

blizard · May 3, 2011, 2:16pm

Here are another 2 setups later in the day, 25+ pips today.

thanks

blizard · May 3, 2011, 10:13pm

Here are 3 trades I took during Asian session. Easy as 1-2-3.

thanks

mojo6911 · May 3, 2011, 10:17pm

Thanks, I am gonna try it tomorrow.

mojo6911 · May 3, 2011, 10:23pm

Can you explain this one? I can’t see where the ZZI14 is. Also, my ZZI14 is red, yellow and orange. No green.

pigsinablanket · May 4, 2011, 12:46am

This is very similar to a scalping strategy I started just recently. I was having problems with the steroid scalping method with its large stop and martingale so I switch to tight risk control. And the results are improving now. This looks really good but no visula cues to stay pout of the chop and slop. A fast and slow MA will help with that. I have been using the 13 and the 21 SMA. When the price is interacting with them both I know we are in sloppy weather and its best to sit it out. Ill post up my template later.

blizard · May 4, 2011, 11:06am

Hello all, the color can be changed as for me green is an uptrend and red is a down trend. Here are the setups from the ASIAN session earlier this morning. The Rules are simple. Trade in the direction of MEGA TREND (RED = only sell trades, Green= only buy trades). Next look for the ZZI to hit over sold (GREEN)if mega trend is also green, or over Bought (RED) if the mega trend is also red. Finally, if mega trend is green, the zzi 14 is in the oversold area, look for a bullish candle that closes above the opening price of the previous candle. I have attached 2 more setups below from this morning on the 1 minute EUR/USD chart. Also if you notice below on all the buy entries, the bullish entry candle MUST close above MEGA TREND. The opposite is true for sell trades. Honestly i bank 15-30 pips easily with this system daily, we created an EA however we found that trading manually just works better.

thanks and I will keep posting my daily trades for this simple yet highly effective method.

blizard · May 4, 2011, 11:09am

Another benefit to this system is the stop is extremely tight, its the RED DOT or swing_zz.

thanks

blizard · May 4, 2011, 12:35pm

Also, if you trade the 1 minute EUR/USD chart like I do, i would recommend changing the mega trend “method” value to “1” instead of the default value of “3”.

thanks

When_Pips_Fly · May 4, 2011, 1:29pm

Any time of day you find particularly more profitable?

blizard · May 4, 2011, 2:55pm

I trde when ever the market is ranging nicely, avoid consolidation periods.

thanks

blizard · May 4, 2011, 3:02pm

Hello, here are 3 easy setups that occurred this afternoon.

thanks

blizard · May 4, 2011, 4:01pm

Here are the last 4 setups, very simple but highly accurate system.

thanks and I hope some of you take advantage of this.