Mad Scalper

[DayTrader81]

Another 22 pips!!

My target was 20 so very happy:D

[s005606]

Hi Pete and all fellow traders,

I am a newbie and thanks all of you for your great contribution here. I am trying out this system but I didn’t have much luck for a few trials. Would anyone of you be kind enough to comment on my testing trade below?

This trade is flopping, was my entry a valid one? Is it the 50EMA was not slant enough? Or coz I was trading NZDUSD (not so volatile pair) during the Asian session (again low volatility) ?

Please feel free to point out my mistakes so that I can learn and improve. Thank you all once again for the great sharings.

[petefader]

@s005606

Hi Pete and all fellow traders,

I am a newbie and thanks all of you for your great contribution here. I am trying out this system but I didn’t have much luck for a few trials. Would anyone of you be kind enough to comment on my testing trade below?

This trade is flopping, was my entry a valid one? Is it the 50EMA was not slant enough? Or coz I was trading NZDUSD (not so volatile pair) during the Asian session (again low volatility) ?

Please feel free to point out my mistakes so that I can learn and improve. Thank you all once again for the great sharings.

Hey. The grey line is support. From your chart it looks like price came within a few pips of it. If your trade nears support or resistance, you should lock break even, or take some profit…or both. If the entry is too close to s/r, you should skip it all together. Besides that the trade was fine.

[s005606]

Hey. The grey line is support. From your chart it looks like price came within a few pips of it. If your trade nears support or resistance, you should lock break even, or take some profit…or both. If the entry is too close to s/r, you should skip it all together. Besides that the trade was fine.

Thank you so much Pete for your valuable comments.

Just another quick question, I very often see the below scenario:

Let’s say if I am in the middle of a up move (50EMA pointing up & slant, all conditions met), you suggest us to wait for a retracement first before entering, ie, wait for the color to change to the opposite color[red], and then change back [to blue] to go long entry.

However, when such retracement is occurring, the 50EMA will often begin to flatten and sometimes even slightly pointing down, and when the color finally changes back to blue for me to go long, the 50EMA is still quite flat, seems not a good entry. But then, the 50EMA will often resume the upwards slant after few candles (and again I have already missed this trade).

Is that common or I am having bad observations?

[petefader]

Thank you so much Pete for your valuable comments.

Just another quick question, I very often see the below scenario:

Let’s say if I am in the middle of a up move (50EMA pointing up & slant, all conditions met), you suggest us to wait for a retracement first before entering, ie, wait for the color to change to the opposite color[red], and then change back [to blue] to go long entry.

However, when such retracement is occurring, the 50EMA will often begin to flatten and sometimes even slightly pointing down, and when the color finally changes back to blue for me to go long, the 50EMA is still quite flat, seems not a good entry. But then, the 50EMA will often resume the upwards slant after few candles (and again I have already missed this trade).

Is that common or I am having bad observations?

Since we know the angle of the 50 ema is showing us the strength of the trend, what you are taking about is simply a “less probable” trade. So, it’s a question of where you want to draw the line.

My official rules say there must be a 50 ema slant for entry, and I follow that. If it goes flat for a candle or two during the retrace, that’s ok, as long as the entry point has the slant again. If it slants the opposite direction at any point, I would not take the trade.

[s005606]

Since we know the angle of the 50 ema is showing us the strength of the trend, what you are taking about is simply a “less probable” trade. So, it’s a question of where you want to draw the line.

My official rules say there must be a 50 ema slant for entry, and I follow that. If it goes flat for a candle or two during the retrace, that’s ok, as long as the entry point has the slant again. If it slants the opposite direction at any point, I would not take the trade.

I understand now. Thank you so much Pete for the great advice.

[petefader]

I understand now. Thank you so much Pete for the great advice.

Your welcome, good luck to you.

[Roguepipper]

Anyone having much luck using the madscalper today?

[noreenoleary]

hi,

I have just been reading this thread and find it very exciting. I have tried to download the link on Page 4 Message No 35 and am getting a message to say the link does not exist or has been blocked. Could you post it again please.

Thank you:

[newbietrader]

I just noticed that Pete got banned. Does anyone know why? His methods seemed pretty good to me.

[noreenoleary]

Newbietrader,

Do you have the indicators for this system. I can not download it from the link on this site.

Would appreciate a reply

Thanks

[newbietrader]

Yes, I’ve uploaded them here:

TinyUpload.com - best file hosting solution, with no limits, totaly free

[TalonD]

I’ve been following this thread and I like it. Don’t know why Pete got banned, could be because he has a pay site but I never saw him advertise on here. That’s a shame. He has a good system here.

[Bankmin]

I’ve been following this thread and I like it. Don’t know why Pete got banned, could be because he has a pay site but I never saw him advertise on here. That’s a shame. He has a good system here.

There were two posts I saw in his other thread that were deleted just before he got banned. Someone asked if Petefader had taken a trade in his trade room, and he said that he did. If that’s the reason he was banned…give me a break.

[system]

There were two posts I saw in his other thread that were deleted just before he got banned. Someone asked if Petefader had taken a trade in his trade room, and he said that he did. If that’s the reason he was banned…give me a break.

If that’s true, I guess moderators are abusing their powers… :eek:

[newbietrader]

There were two posts I saw in his other thread that were deleted just before he got banned. Someone asked if Petefader had taken a trade in his trade room, and he said that he did. If that’s the reason he was banned…give me a break.

I e-mailed him asking what happened and this was his reply:

"[I]Someone asked if I took a particular trade in my chat room (which is a paid room) and I answered “yes”. That’s it!! oh well.[/I]

[Bankmin]

It seems very easy to get an infraction or banned from this site. If that’s the way they want to run it, so be it.

[TalonD]

I wouldn’t say the mods are abusing powers, just that they sometimes throw the baby out with the bathwater. There are some who’s posts were like fingernails on a chalk board and took way too long to get a ban and Pete who only mentioned his room in one post in passing. That’s an overreaction a mon avi but what do I know? I’m just a noob

[jado911]

I wouldn’t say the mods are abusing powers, just that they sometimes throw the baby out with the bathwater. There are some who’s posts were like fingernails on a chalk board and took way too long to get a ban and Pete who only mentioned his room in one post in passing. That’s an overreaction a mon avi but what do I know? I’m just a noob

Now that he is unbanned, we can go back to normal trading!
thanks to babypips team

[pipon]

Hi Pete,
Nice to have you back