Mad Scalper

petefader · January 19, 2010, 1:26pm

Everything you need is in the first post of this thread.

cobra007 · January 19, 2010, 1:46pm

Thanks Petefader

petefader · January 22, 2010, 8:43am

Hey everyone…just checking in. This week I was trading off my 1hr signals and pure VSA and did very well. (My VSA thread: 301 Moved Permanently )

Looks like EJ and EU have been GREAT for Mad Scalper.

Have a good weekend…don’t give back your pips, it’s “fry” day.

Need_Pips · January 22, 2010, 2:50pm

Hi Pete,

At first have to say thank you for all your help. Happy New year.

I am planning to read your other thread. Do you use this for Asian market.

I like to know if you have any method(s) to trade the asian market or any recomandations.

Thanks.
KC.

WilteredFire · January 26, 2010, 10:51am

Thanks for this method pete. Very interesting so far and just let a +20 pipper on the EJ go by, hopefully I can start trading EJ again like i use to with this method.

Thanks ever so much for sharing once again. God bless you.

Need_Pips · January 29, 2010, 6:32am

Need_Pips:

Hi Pete,

At first have to say thank you for all your help. Happy New year.

I am planning to read your other thread. Do you use this for Asian market.

I like to know if you have any method(s) to trade the asian market or any recomandations.

Thanks.
KC.

Is Pete on a vacation?

fxvoilaaa · January 31, 2010, 10:00pm

This looks like an interesting strategy.

fxvoilaaa · January 31, 2010, 10:22pm

can someone please post their recent results using this system? Thanks.

unknown2u · February 1, 2010, 8:07pm

If there is somebody here that doesn’t mind helping me get this system working right on my MT4 platform I’d really appreciate it.
I have 4 indicators from the download in place and the template in place…the shaded areas don’t look anything like the ones in Pete’s charts.

Really appreciate it!

Need_Pips · February 1, 2010, 8:40pm

check your time frame. Its 5m chart

KC.

unknown2u · February 1, 2010, 8:53pm

Thx.
Maybe I do have it right and I just need to give it some more time to see entry points form.

pipon · February 2, 2010, 3:24am

Hi unknown2u,
maybe you have what I hade, and this is what pete wrote me :

All you need to do is load the template that you downloaded along with the indicators, and you will have my custom settings automatically.

The file that ends in .tpl is the template. Go to “load template” in your mt4 to load it.

hope that helps:confused:

unknown2u · February 2, 2010, 6:48am

Pipon!!

Thanks so much!!
LOL…I thought all I needed to do was put the template into my template file…
Didn’t even know I needed to “load” it!! (Yes…I’m still new to all this!)

I’m all set now…happy pip’in all!

unknown2u · February 2, 2010, 9:21pm

I made my first trade tonight using the Mad Scalper.
I did a buy of the usd/chf
I got in at 1.05550. I got out at the downturn and only made 2 pips! Got out at 1.05570. I attached a pic of the chart. Guess I should have stayed in longer…looking at the chart now…I coulda made a bunch more pips!
I’ve read about a bunch of you taking profits and not closing all of the trade. I’m using MT4 thru FXCM. How do I close only a part of a trade?

I guess the big question is did I make the right move getting into this trade based on the rules of the Mad Scalper?

Thanks for the thoughts!

PTB · February 2, 2010, 10:40pm

If you use bars instead of candles you can see the color changes better.

Also zoom in about one click so you can show individual bars…the colors won’t be run together.

Put a vertical line through the bar where you entered and also where you made your exit. This will help us see more clearly and we can comment on your trade.

I like this scalping method. Very simple and straight forward.

I added a 200 MA to give me an idea of the longer term trend.

unknown2u · February 2, 2010, 11:22pm

I update my chart pic to show around the place I got in and when I got out.

Look at it now…I could have got in much sooner…however…I thought we were advised not to get in until we know for usre the 50MA is trending the right way (in this case up…). So I held out getting in for a bit to make sure the 50MA was on a nice move up.
I also know the spread bumped me up a bit from where I actually clicked in. Is there any way MT4 will show you the current spreads for each pair?

Thanks!

PTB · February 3, 2010, 12:39am

Go back to post #1 and read the rules. The trend was flat. You don’t enter unless there is a definite trend up or down. Once there is a trend you don’t enter until there is a pull back which is shown by a color change. Learn about the color change. I see no indication of a color change in the region that you entered.

If you really want to learn this method, you should start with post #1 and go through every page. There are lots of examples and charts posted. It is a very worthwhile read.

unknown2u · February 3, 2010, 6:54am

Thanks for the reply.
I guess I was missing the pull back part.

I just entered a long on the e/u. Looks to me like there was a pullback, the trend is up. Did I do that right?

Also…not sure if this is the place to post this…but I figure I’d ask anyway.
When I traded my micro account it was on Trading Station. When I trade demo I didn’t use stops a ton. I see the strategy here is to put stops in around 20pips. Am I missing something…or does MT4 only allow stop at a 50pip minimum. If that is the case I gotta stop using MT4!

Thanks!

petefader · February 3, 2010, 7:33am

I’ll take this one…

I don’t know where you took e/u. Post a chart.

You are mistaken about a 50 pip minimum for mt4, not true.

unknown2u · February 3, 2010, 7:35am

Thanks Pete.
Gotta get to work.
I’ll try to post a chart later. Trade isn’t working out so well.
All part of learning! I look at the charts people post and it makes sense and looks very easy. I don’t think I’m making the trades on a strong trend so that is probably what my problem is right now.