Hybrid scalping system

thanks very much, have been getting some gains already practicing in demo

Here are two examples for gaps trading, both on Gold. Its very straightforward, entry only counts if gap is bigger than 25 pips, and price has to touch Bollinger band on any time frame M5 and up (M1 doesnt count).

How is everyones trading week so far? I am short GJ at the momment, closed two GJ shorts already will add another if H4 close stays as it is now. 151.287 is my 1.st down target and 2.nd is 151.023.

I had GJ long and sold it early this morning @ 151.54 made a nice amount of pips. It is still going up, so i’ll wait until the daily closes. I am now looking for a short on it, good luck on your short.

Ye i closed that short from yesterday on BE. It didnt move very much so i had no other choice becouse Claimant count for GBP was expected bullish. Anyways missed claimant count in morning hopefully you guys have cought it , it was very nice safe 30 pips.
At the momment i am working on complex news trading EA based on hybrid system will see how it pans out.

Hi Janpec1000 I still not understand can you provide more example and explain more?
For example, we can see already break R3 8 pip but outside BB. Should we go for entry? Where is the entry? Should we wait for the candle close? And I am not understand with kijun flatten in higher time flame.

Please help me. I really want test on this system.

Thank you.




Hello,
As i written if you enter based on Pivot entry (such as R3) ALWAYS wait for candle close to get proper signal. Only closed candle can tell you if pivot was broken or rejected.
If i remeber correctly i did enter on R3 there, took 3 pips. You can notice R1 and R2 entries should be very good, R2 was clear rejection with many pinbars, and kijun has flattened nicely.

As for your R3 entry you could entered in few places there. Best entry would be where (when) price went outside BB for quite heavy almost 10 pips, second entry could be on candle close and pivot rejection.

Hi Janpec1000 really appreciated for your explanation. I will re-read all your posting again and again. Now I get a better picture on the strategic. I notice that this strategic will not have stop loss. If I am going into wrong entry, what should I do? Should I place 1 more entry to average the loss or hedge it and wait for place to close? I am new on forex, sorry for the stupid question.

Question is not stupid, its important to know when you are wrong. After you see trade going against you and entry signals start to change (like kijun flatnes, distance of PA and kijun, resistance being broken or similar) you should start considering hedging trade and release it once entry conditions are meet again, or just wait and add on top of the same position but you have to be confident on entry signals. I rarely use hedged usually only when i enter in middle zones or consolidating market without dirrection and where i know that my bad trade could get in serious DD. Usually my entries and so should be yours are where some decent moves happen and odds are in your way that price should retrace with your entry even if it goes little against you.
Technically covering bad trades is one thing i cant teach you very well becouse it requires decent overall forex knowledge (S/R, supply and demand, pinbars etc) and more of all it requires experiance which you can only gain by trading long enough. I am not talking about years of trading just trading long enough that you catch perspective of vision for where trade might go against you.

Just wanted to inform everyone that Hybrid system version 3 is still being under development i am shaping v2 version into system that can be traded with trends too which has been somehow deserted after version 1.
For trends it wont be standard “let it run” method for days but rather quick dump method that can be found trough repating Ichimoku&Stocastic pattern on all currency charts. It is trading after pullback and dumping more into the trend. This will be strongest feature of V3.

Janpec,

Early on you said you use forex tester for practice. Are you using Daily pivots 2 on Forex Tester or how are you getting past this for practice on Forex tester? Many Thanks,

Hey,

You cant use MT4 indicators with Forex tester you can only use their indicators, so only what you can find as default MT4 indicators is in Forex tester, pivots are there but i dont really use them for practicing, so thats one side of system i leave aside when practicing in Forex tester.

Yep; I thought that was the case. I know you have someone build something custom for Forex tester based on MT4 indicators but not sure if it’s worth it.

Thanks Janpec for sharing your strategy and your experiences with carts and video’s . I decided to trade your strategy on my demo this week. I got some real good experiences, some profitable and some losers. Its all in the game.

I do have some practical questions I hope you or someone can help me with:


  1. You say you the best is to take the trade when the K line is flat for 2 bars. During this period often the retracement is more than we would like to be, unfortunately no trade. Other times the price par is still about 10tiks away of the K line. Do you take the trade? I have experienced that when I trade I might just get 5 ticks if I am lucky other times price continues with the trend (against my trade). When this happens do you kill the trade with 1 or 2 ticks profit or do you stay in the trade? (see chart GBPJPY no pivots in this area) what would you do if you were in this trade?
  2. You say you stay in a trade for avg 10-15min: I have been experiencing quite some time ranges of 30-40 min? Some trades were winners, some I got out without profit or loss. Can you share some experiences (see the GBPJPY chart as example)
  3. I had 2 trades going against me while not using a SL. The trade had 50-80 pip loss before went I came back to the entry level. Luckily I had the chance to close the trade a day later with no loss. Do you have any tips how you deal with these trades.
  4. Do you use the 1 min chart before entering and when you are in a trade? ( besides backing up the trade on the 30min time trame).
  5. entry when price goes 10pips outside BB: most of the time these pullbacks are very fast. How do you trade this? After receiving a BB alert, go to the chart and hit the sell/buy button? Do you go to 1min chart?

Thanks and looking forward to your v2 trend update.

Hello,

Okay here it goes.
For this specific trade i would only short it right on first candle when Kijun turned flat, which was the last M5 candle that was stil out of BB. This is the only place where price was out of normal position and it should retrace a bit, your entry was already too late if you entered on third candle when kijun was flat, basically the reason is that there was no top (pinbar) on higher time frames. It is very important that you track higher time frames, if there are no tops or bottoms signaled by pinbars it means more movement is certainly possible. I usually never enter if there are no tops or bottoms on m15 or higher time frames, but if i do price has to be strictly outside BB and it has to be fast movement, entry just about when kijun starts to flaten.

2.Ye sure i stay for few hours or days too in trades too as i dont really only scalp, i trade all time frames bellow weekly.

Your TP in this case is certainly too big. What you have on picture is start of new up trend, which was signaled by breaking trough Ichimoku cloud, so you should expect up trend with small down retracements, which means i dont use TP larger than 10 pips in such case.

3.Not sure where you added second trade its very important that you are sure that your second trade is placed correctly so that you will be able to cover at least 50% of DD of first trade.
If i am certain i made wrong decision and trade is 30 pips in minus i will usually hedge it. I then wait for strong move and release part of hedge there, then wait for first hedge entry to hit DD equal to BE (including profits of second hedged trade).
When i am wrong i never aim to make profits from hedged trades, as long as i can drive it to BE its good enough.

  1. Using M1 surely does help making sharper entries but i dont use it usually.

5.Correct those pullbacks are very fast, i have alarm set up so if i am able to catch it i enter. Alert indicator is attached on pages before. But to be honest since i am trading of phone a lot and dont really watch computer charts that much i miss many of those entries.

Just wanted to add, Gold (XAUUSD) is not tradeable most of the time with this system. I had to get proof by burning my hands on it durring past two weeks, but i would suggest to stay of pullback trading on Gold, except if range is very tight and BB is completly flat. Version 3 of system will be better suited for it as it will have trend trading aswell.

Thanks, I noticed you really have to be on the ball with XAUUSD. its very choppy.

Thanks for your answers, that really helps.

I have noticed that there are trades I got in when kijun looking flat at first (1st candle) but as time continued (within the 5 min bar) price continued (=kijun angled instead of flat) and the (scalp) trade worked against me. what do you do? If correct you hedge the trade if its more than 30 pips loss and otherwise you stay in and be patient? even after 30 min or so?

What is DD? (I know BE =break even)

Thanks

I do not scalp without a SL. If you have 20 pip SL you get 20 if u have 10 u will get 10 often I set only 5 pip SL. If it hits it hits and I look for new entry.

When i start a scalp , i see if their is a potential to go longer, if not i just stay with the scalp theory , which is up to 10 pips ,anything more than that is not considered a scalp, according to the expert scalpers. Having said that, if it goes against me i will pull the trigger with no more than a 10 pip lost. Most people that do scalping use a higher pip value and that’s why they use a tight S/L.