Automated4X Highly Accurate 20-30 pip Premji Scalper

ThreeLittlePips · May 4, 2011, 4:45pm

I like what I what I see, but could you be more clear on your exit strategy? I can’t seem to find any mention of any exit signals

blizard · May 4, 2011, 7:26pm

I usually go for 8-12 pips on the 1 minute chart as it is for scalping. So my daily target is 25-35 pips.

thanks

blizard · May 4, 2011, 11:16pm

Here are 3 more trades I took during the Asian secession that got me 12 more pips this evening. 2 were successful 1 was not. Daily total around 23 pips.

thanks

blizard · May 5, 2011, 12:09pm

Nice setup this morning. thanks

mojo6911 · May 5, 2011, 8:00pm

Still learning.

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This should be ignored because it is against the trend, right?

blizard · May 5, 2011, 8:40pm

Hi, yes, MEAG TREND IS RED so you would take only the sell trades. Even if the MEGA was green, the candle must be above the MEGA trend for a buy entry.

thanks

bnbb2004 · May 5, 2011, 9:19pm

Thanks for sharing blizard! Can someone make an alert for the rules of this system when conditions are met?

mojo6911 · May 5, 2011, 9:26pm

I have lost a lot trying to learn the method. I am using a demo account, so I don’t care, but I guess I just don’t get it. Thanks for sharing.

blizard · May 5, 2011, 9:52pm

Its very simple, 3 conditions must be met. Here are today’s PM trades during the Asian secession:

maxximuz · May 5, 2011, 10:05pm

thanks for sharing blizard.

Refer to your screen shot, for the first trade, do u you enter Long after the red arrow (the long bullish candle) or you enter at the red arrow?

for 2nd trade, where do you enter Long? the open of 7th candle after the red vertical red line or the open of the candle marked with red arrow?

blizard · May 5, 2011, 10:09pm

Hi, you would enter after the arrow candle as the candle must close above the Mega trend and the previous candle.

thanks

maxximuz · May 5, 2011, 10:22pm

thanks for the prompt reply. Pls check the attached screen shot, are the entry correct?

blizard · May 5, 2011, 10:26pm

Hello, the first entry is correct, the second entry is the arrow candle as it closed barely above the mega trend so, I would enter. The second entry is too late because at this point the ZZI is no longer oversold.
I have attached the changes to you pic.

thanks and keep those questions coming I dont mind explaining the system.

maxximuz · May 5, 2011, 10:34pm

got it, thanks a lot.

mojo6911 · May 5, 2011, 10:40pm

Ok, I applied your template and your setting of 1 for the mega trend. Maybe you can edit the first post to contain this info. I think I have it down as I have identified your previously posted signals.

mojo6911 · May 5, 2011, 10:45pm

Is this correct?

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blizard · May 5, 2011, 10:46pm

No Problem, ill keep posting my setups and i strongly feel this system has 70-80% accurate entries, just go for 5 pips for each trade on the 1 minute chart and you will get the 4-6 solid trades daily. This works for all time frames and if you look at this 5 minute entry today, you would have got many pips, it went for close to 300 pips and this doesn’t usually happen but its nice to see the system would have caught the perfect entry.

blizard · May 5, 2011, 10:47pm

yes that is correct, you would have gotten 3-5 pips max out of that one.

thanks

blizard · May 5, 2011, 11:00pm

Here is an entry that just occurred, got my 4 pips and closed the position.

mojo6911 · May 5, 2011, 11:02pm

How do you decide the exit?

Why was this a signal? I didn’t see red in the zzi on that one.