Hi pete. Is that still valid?
yeah u’re right, i regreted my decision. :(im very impatient…
Right, I’m not using the osma.
**Just wanted to warn everyone that we have alot of news releases today, so I’m not even trading untill it lightens up. Half a day off…cool.
Long GBPUSD -43
Short GBPUSD -59
Newbietrader, those two trades are in no way Mad Scalper trades. The entry on that chart, according to the rules, is a short at 9:25, which gave an immediate +25 pip scalp.
You need to start from scratch and understand the rules…it’s all right here in this thread…
another question from noob. Pete, do you set TP and SL?Thx
It’s in the first post.
As I mentioned, today was filled with frequent news resleases…and the charts have reflected that.
As fun as Mad Scalping is, we have to be disclipined and not trade when the conditions are not correct for the system. Maybe news traders made a killing today (…or got killed).
Also, we are trading with the trend. Small as it may be, this method reqiures a steady direction for it to work.
A quick look at the GU and EU 4hr charts, and you can see price stuck in a range, rather then trending (The last 7 or 8 candles cover the same range). Its rare to see that small range during active times, but it happens…and we had alot of news as a warning not trade trade anyway.
I would rather see price break out of that range before I trade again…no rush. Many good days ahead. Jan - May is my favorite time to trade. Things may slow down starting next week due to the holidays.
Caught another +18 pips on the Euro…
I know Petefader said he wasnt gonna trade today.
But I felt like trading. 
Forgive my newbiness with MT4, but is there a way to configure email alerts for ideal entry conditions that abide by the rules discussed in the OP?
Yes, it requires someone who knows programing.
I wont be sharing any of that stuff here…but yes alerts can be done by a programer.
Looks like things are moving well again…waiting for a setup.
Things are still moving sideways…no Mad Scalper trades for me yet.
It might be better, in this small ranging pa, to use a simple rsi or stoc…over bought/over sold method, untill a trend returns.
It’s simple as that.
This is not a mad scalper trade, it a “simple as you can get” way of trading a range, since we dont have a trend…and I’m really starting to like simple…note my stoc setting 10,5,5.
Thanks for the reply petefader.
Could you point me to some resources on learning the metaquotes language?
Sorry, that’s definitely not my thing. I would assume a google search would give you plenty of resources.
Look out! I’m a “Master Contributor and Member” now.
Hey Pete… check your messages I left you one.
thanks,
revrobwimb
This trade worked out but being that it went down a bit, couldnt it had easlily retraced therefore putting you in immediate drawdown? Wouldnt it had been safer to wait for the pullback then look for short oppurtunity?
This trade worked out but being that it went down a bit, couldnt it had easlily retraced therefore putting you in immediate drawdown? Wouldnt it had been safer to wait for the pullback then look for short oppurtunity?
Technically, the signal was given on a pullback, but in this case the support was only 7 pips away… so actually I think it was safer to wait and get in just below.