Decent Scalping strat for Oanda Platform, Naked

Beginner Questions
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:35::35:Hey folks, Im back with another system setup, works great for Scalping, and uses oanda FX trade platform.

I think this would be great for beginners, pretty easy to follow…

When the time is set up, 3-5 pips are the usual,

Open 5M, 1M, 30sec, 10sec, 5sec, charts…

Make them the same size…

Step 1, Open EUR/USD chart, Set candlestick setting, and color… Now, open 4 more from THAT chart, from the upper right corner. It will make 4 more, just like the one we just did…

Then do the settings from the pic below.

The 10 clicks are very important for the price line set-up to work right. So dont forget to do that,

I like to set it up, so that I have a pile of tickets ready to just hit submit, on the left, and on the right, is where I open my ticket, to close it, JUST INCASE, always ready.

Then at the bottom, is my terminal for FXTrade, so i can get to my open tickets fast.

Now, listen, this isnt for the laxidaisiacal ( LOL, WTH ):smiley: Trader. This is fast paced, or you can just go one way, then wait again, or get the reversale. Makes it easy to spot the whipsaws… i got about 15 reversales in seconds from this set-up today.

you can sit back, trade one set every 30 minutes, an hour, 2 hours, whatever, just waiting for the set-up to occure.

From Left to right, we want the price lines to step up, for long, and step down for short.

The 5M chart is heikenashi, the rest are candles, so make note of that.

Now, you can wait for the 5M to turn green, then step up, from left to right, THEN Long, and wait for 5M to turn red, Then step down frrom Left to right, to Short.

Took me 9 months to figure out thru trail and error, indicators are crap, and history, so, I tend to never use them again.

Although, I have a few set-ups that work well, " General Indication"…

OK, here are some pics to see what Im using…

Let me know if you have input on this…

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I don’t imagine your results (not that you shared any with us) could be replicated over many months, consistently, or with a large account size. Try doing these type of trades with a $10,000 account using 100,000+ units. I’ve traded that way, albeit on a 5m/1m chart setup and had the best 3 week run in my entire 3 years of trading. In the end it was extremely taxing on my emotions and lost money in the end. on this arena…the brokers will win.

But I’m very used to people ignoring my advice, so continue if you wish :slight_smile:

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Yeah, I cant show results, oanda is down for maintance, and it was a learning thing too… Just stubmled onto it yesterday, and just watched allot an took notes of the set-up, made about 30 trades, with this set-up, hit all of them doing this,… so, We will see, hopefully this is my last strat… I like it…, LOL, till next week…

Its really not hard at all to follow, and probably one of the easiest thus far i have found…

When the pair is up and down, or low movement, this is a rakeing system…

Just follow the wavvvvvveeeeeee…

Thanks for the input tho akea, this is why i post these, I just never seen it anywhere, and it works…

Have a great weekend,

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Hey if this is just a hobby for you, by all means go wild and wooley, but if you aspire to be a professional, I would advise that you broaden your focus and get a little more ‘technical’ with your strategies.

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Really? Why is that?

Keep it simple, No?

“technicals” are what we try to stay away from, no? Dont you agree, this is where alot of traders go wrong, by putting to much weight on Technicals?

I had it expanded, into 10m,15m, 1H, 4H, and it shows the current trend, perfectly actually, but Im scalping, and just concerned with the small current time frame,

Ive went thru ALOT of indicators man, and they are just misleading, about 40% of the time…

Nothing seems what it is, no?

With this set-up, you see the train coming, you just have to jump on…

I will have a full report next week on results…

Im just seeing alot of new traders looking for a entry into the wild and wacky world of Forex, and think this is a good stepping stone, using Oanda, and real money…

Again, Akea, thanks for the input, I just want to know your thoughts on this, keep firin away bud.

Just so you know, also, Im not getting all uptight and, trying to stir the pot, I really want this info…

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By more technical, I don’t mean more indicators. I’m talking about the use of specific levels (horizontal) that you can use to base your trading decisions around. For instance, the previous day high, coming in at 1.5203 (for example) would be good technical level with a specific value attached to it. There is nothing subjective about it, every trader on the planet will see that yesterday’s high was 1.5203.

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How many pips do u collect per entry ??

cant u use these method on a higher TF and aim for more pips??

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Thats up to you, really… It would work the same, on a larger scale. I used a set-up like this on MT4, also, and It works awesome for showing the long term trend change.

I just perfer to be in the action, alot, so I love this strat…

What Akea said, makes a ton of sense to, I agree… But me, just being a scalper, I look no further then the 5M most of the time… But knowing where the top is about to happen, would help alot…

Also, i need to point this out,… I have a 1 screen set-up, If I had 2-3 more monitors, I would be a better trader, as everything is right there, at a glance, and not fumblin with windows and such…

So, everything is kinda geared to my current set-up, which Im upgrading on my next withdrawl…

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Yeah 1 monitor is a hindrance for any strategy. I’d like to have 4 monitors but I settle with 2 :stuck_out_tongue:

I think you should do weekly updates for your performance with this strat, it would help people know what kind of results to expect with your method.

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hmmm…

Well keep posting. Its not really my cup of tea, scalping, but alot of those who I know seem to make it work for them.

Last months FXCM micro contest winner seems to be a scalper. I have not had the time to go through his entries because there are like 3000 plus entries for that one month …

But regardless, I cannot understand why brokers dont like scalpers…

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:slight_smile: I agree with Money… but then of course some like it complicated when it could be very simple. :slight_smile:

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BTW Money…
I think purplepatch has a similar strategy and I am the last one to tell you to stop trading that way. After all scalping is my bread and butter, every day. :slight_smile:
Keep it up and and also KIS(S), it works. :slight_smile:

P.S Oanda does not have a problem with scalpers, I do it for a few years already.

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Interesting, I am a scalper by heart, and I am learning to refine my scalping skills. I just posted an indi that is an instant buy/sell without confirmation window that should help scalpers…I will try your set up, unfortunately MBTrading doesn’t have lower that 1min. I might have to get that indicator that creates any timeframe you want.

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Surely, you jest, no?

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Please enlighten me.

1 Like
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It’s that the 15min is pretty easy to trade talking comparatively to say the 5min, but the 5min is absolutely tradeable, then the 1 min is doable, but very very tricky.

For instance if you look at the 15min chart, and spot some price consolidation, it can easily range with about 10 - 15 PIPS for a couple or three hours, so you can think how that would look and the 1 minute, it won’t give you any useful information, you just won’t now where or when it will break out and when it does where to and what is your target profit you won’t have any idea.