Mad Scalper

Ahsan · February 11, 2010, 2:28pm

Hello Petefader,
Thank you very much for pointing out the weakness of Mad Scalper system. You mentioned you trade two other 1h system. One of them is your VSA system. I am interested to know about the other one. Thank you very much for your kind help.

petefader:

Yeah, I got +26 on that EJ, I closed “too early” too, but I had good reason and I could have ended up with less if I didnt close, so NO REGRETS for sticking to a plan and winning.

I’m getting a bit sick of “oh I should have held that” if you know what I mean. I’ve been guilty of it myself, don’t get me wrong. But to me it’s as silly as saying…look the gu just moved 40 pips, “oh I should have bought that”.

We should only do something if we have a REASON to do it.

“oh, I should have stuck with my plan” now that’s something worth saying 1,000 times!

Here’s my take on your question. I use 2 other systems along with Mad Scalper, so I wouldn’t be able to tell you an average return. I have a feeling most newbiews are jumping from system to system, so they might not be able to tell you either, lol.

I would say do some back testing, and see for yourself. If you want to get fancy about it, you can use a trade simulator. Just search FF for Vhands simulator. You can run though past days in real time, take trades, and even speed it up. Every learning trader should have it!

ok, back to the point. Mad Scalper is dependant on a healthy trending market and, as we know, we don’t always get that. That’s why I use two other systems, both are based on the 1hr TF.

My total approach to try and catch anywhere from 50 to 200 pips per trade on my 1hr systems, especially in this volitile phase. My 1hr systems are based on top and bottom picking, so if I don’t get an entry on that and we are mid-move, then I go to Mad Scalper, to catch pullbacks on a trending move that I missed the start of.

So, I’m not telling you that you need a 1hr system, but I can assure you there will be days when the market is moving and Mad Scalper aint giving jack. If you are interested you can look at my VSA thread. That’s one of my other systems used on 1hr down to 5min TF.

So, I guess my point is, yeah Mad Scalper is great for trending, but I would recommend a top/bottom picking, AKA counter trend, AKA range system along with it to maximize your time…and pips.

petefader · February 11, 2010, 5:35pm

Sorry, I don’t share that one.

niceguychisom · February 13, 2010, 5:16am

Yesterday was a great day for trading this strategy for me. Hope it keeps getting better and better

jaquille · February 19, 2010, 12:03pm

petefader:

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How to scalp the 5min using the zip files posted.

Entry is when the shaded red or blue on the chart change color on a 5min candle CLOSE.

50 EMA (purple) gives general direction by it’s angle and acts as supp/resist. If price is above it AND if its angle is up, then LONGS ONLY. Do not trade against the angle of the 50 ema, and DO NOT trade if it is flat.

14 EMA (red) If you are looking for longs then you must have a candle close ABOVE the 14 EMA to enter. It also acts as supp/resist in very strong trends. (If price is crossing back and forth on the 50 ema, this line can help determine longs or shorts by being above or below the 50 ema.)

Trend Changes: Let’s say we are in an up trend. When the 14 EMA crosses down on the 50 EMA, and does not soon cross back up, then the up trend is weak and [I]may[/I] reverse.

If the 50 EMA slants down, and 14 ema stays below, you would now look to short instead of long. Entry on that would be AFTER A PULL BACK of the down move (blue then red, and all conditions met).

OSMA (looks like macd) must be above zero for longs, below for shorts, (FOR NOW I HAVE REMOVED THIS).

The pivot points and murry math lines will change everyday to give to supp/resist levels, also drawing your own fibbs and trend lines is good, but not crucial.

This is meant for scalping so stops and targets for EU and GU about 20 pips…give or take. Always keep your stops in place, never take a big loss.

Only trade during active times for better probability and avoid entering a trade right before a news release.

Remember this is just playing the probabilities, as with any system, so if you take a loss just stick to the rules and find the next setup.

I didnt invent anything here, just put together my favorite things from years of scalping, and it is basically simple in the end. I would recommend trying this out on a demo. If anyone does, let me know your results, or if you have any questions/ideas about the rules etc.

petefader:

ok, I can’t help myself…

This thread is the biggest pile of horse maunure I’ve ever seen. I only read a few pages, but that’s all I can stand.

“Jaquille” AKA “Xtraction”, AKA, “Tro” is obviously on a mission get people worked up. I personally think he has some serious mental issues, or he is probably selling something, and there is nothing like controversy to get you some attention.

Either way, these kinds of threads get noobs completely off track. There is nothing of use here, and no one is going to learn jack about how the market really works by reading it.

I’ve been trading 6 years, and I am consisantly profitable for 3 years, so I figured some of you might be interested in my take. I also don’t like to see noobs on the wrong track. Good luck everyone…stay out of the mud.

:mad::mad:

Trading_Knoestje · February 24, 2010, 12:48pm

The price of the candle closed above 14 ma. Osma was above zero. 14 was above 50. The previous candle closed black. The marked candle should have been a long winner. But it was a bearish candle.
Was price already too far above the 14 ma? Was the 50 ma not trending enough?

This could in my opinion easily happen a lot more times. So I hope someone has a good reason why this wasn’t a good setup.

Thanks in advance

Jochem

petefader · February 24, 2010, 2:34pm

Hi Jochem. Without the proper template/indicators, we can’t determine if that is a valid entry. They are located in the first post.

texmade1 · February 24, 2010, 9:43pm

Thats simple…the candle before your marked candle had high volumn…the next candle(your marked candle) had lower volumn…that tells you that the up-bar candle showed weakness, not strenth.
Plus, the black candle to the left of the up-bar, shows weakness in the near past…we have to wait a candle or two, or three, to see if our assumptions are correct

Someone wasnt interested in the market going long at that point

Read the ebook “master the markets”, a couple of times…

…and master the market lol

petefader · February 24, 2010, 9:45pm

hmm, this isn’t my VSA thread.

http://forums.babypips.com/free-forex-trading-systems/21453-1-500-pips-per-month-method-vsa-sr-fibb-etc.html

texmade1 · February 24, 2010, 9:56pm

I’m an avid reader of both your threads…

Got a lil mixed up…sorry

dadulus · February 24, 2010, 10:46pm

Is it possible please if you can post the metatradaer 4 template for this system.

(please direct me to the template and or thread itself if this question is already asked and answered).

Thank you in advance.

petefader · February 24, 2010, 10:52pm

:rolleyes:

dadulus · February 24, 2010, 11:14pm

I am sorry Peterfader !!!

I did not realise the tinyfile thing was a link.

I shall pay a bit more attention the next time

petefader · February 25, 2010, 9:44am

no prob.

janqie · March 1, 2010, 10:44am

Hello just found this nice system any people still trading this?

Plimsol · March 1, 2010, 2:12pm

Hi,
Newbie here, and yes taken 200 pips today with it.

jyc · March 2, 2010, 1:34am

hey there. newbie here. ive been reading this forum for quite sometime n it seem promising as i love scalping. but i do have a problem. where i the lastest attached indicator? tried the first one but seem to have problem.

iCarumba · March 2, 2010, 5:34am

I have downloaded the file from the first page … there is a file extention .tpl and bunch of other files.

Where to put the .tpl?

and what about the other files? (on my knowledge it should be put under expert/indicators)

thank you

janqie · March 2, 2010, 5:50am

put all the indicators into mt4/experts/indicators
and the .tpl file into mt4/templates load your mt4 platform and chose the mad scalper template and you’ll get all you need.
its veary nice system i red all the thread and doent understand why people is’nt active since it realy looks great. i will try this system and will post some trades of mine
good look to all and happy piphunt!

janqie · March 2, 2010, 6:58am

my first entry with this system was little risky i left on BE when it reached 10 pips and market rewarded with +15

petefader · March 2, 2010, 8:43am

Well done.