Mad Scalper is a system I created…not an indicator, so I’m not sure what we are talking about here…glad everyone likes the colors though.
Agreed, many ways to be successfull, but discipline and patience are a must…something most traders dont have. No one talks about it much…just more systems.
I start everyday saying “I dont HAVE to trade today” …but if the time comes to trade, I will know.
I use the xOpen indicator but it doesn’t draw nearly enough squiggles or come in enough colors for my taste. Seriously it should plot the lines:D
I have no problem with indicator based systems and indicator is just a representation of price gone by. We all look at price how we chose to display it on our charts is a personal choice. No indicator will show you when or how to trade by itself I think we all know that. The correct combination of indicators can lead the trader to a higher probability trade with a good risk management plan this can be put together to make a profitable system. I think we all know that, well maybe not all of us will admit it:confused:. A trade plan that works consists of many aspects indicators or no indicators that all have to work together to make money thats it.
Can some one please post the code for
c ocky_bad_spelling_newbie_get_rich_quick_trade_advi ce.mq4
sounds like a winner to me
BOLU = Upper Bollinger Band
BOLD = Lower Bollinger Band
n = Smoothing Period
m = Number of Standard Deviations (SD)
SD = Standard Deviation over Last n Periods Typical Price (TP) = (HI + LO + CL) / 3
BOLU = MA(TP, n) + m * SD[TP, n]
BOLD = MA(TP, n) - m * SD[TP, n]
Prove that invalid ??
My choice to buy or sell could be wrong but the indicator is right.
too much seriousness in this thread.
No idea where I found this one, but it was in my collection for god know how long before I rediscoverd it!!!
this indi draws trend lines, basically you trade the break out and go for the suggested Tp target, of course no one will slap you on your hand if you use it with other indicators/systems.
tip works better in higher TF
I didn’t realize the sarcasm, that the point of this thread is to shoot holes in indicators.
My Mad Scalper method is actually based on MAs, which are great if you use them right…I dont trade a MA cross over system…that will get you into trouble. I like it for getting direction (slant of 50 ema) or for s/r levels, and continuation of trends off pullback. I have found that reliable.
Cowabunga is the system new BP members are pointed towards after finishing the BP school.
It would be interesting to read your analysis of the system as per the quoted post.
If I didn’t know anything about trading, I would say the chart looks impressive. I would be mesmerized and intrigued. But I know better.
What are all those lines and colors for? Price is either going up (green) or going down (red). Way too many recalculations for me. Volume with Forex? Who needs an oscillator when you can look at price bars?
Thanks but no thanks. I’ll stick with weekly open, high and low. Trading is simple: Either the buyers are buying (green candle) or they are not (red candle).
You are incorrect. The open price does not lag. Once it is established, it is set in stone. I don’t “base the future”, I trade in the current moment because that is the only thing that exists.
Price is either moving toward a line or away from it. When price moves toward the previous week’s high and reaches it, what do you do? Buy! If price reverses and moves toward the weekly open and reaches it, what do you do? Short! This requires no analysis, no guessing, no predicting. There are no “illusions” or “myths”. It doesn’t require you to look at different time frames. It doesn’t require lagging indicators.
If you were a new person which method would make more sense to you? Which method is simpler to learn? Remember, Occam’s razor and Einstein.
I’d be interested to see a breakdown of oscillator/momentum divergence/convergence though, and the london retrace strat - personally I’m just dubious about using a lagging indicator in general (with G/U anyway)
I don’t know whether to thank or curse PipsyGirl for editing/censoring the posts in this thread. Some people here were getting very personal and downright hostile. There is no reason for that. If you can’t back up your claims with facts, logic, reason and proof then you shouldn’t be posting in the first place. The point of this thread is to prove whether or not an indicator or system is worthwhile.
In order to do that you would have to gather the data that shows how successful entries are using oscillator/momentum divergence/convergence or lagging indicator. Maximum number of losers in a row may be of interest.