Mad Scalper

ah…I see what you got goin’ there, cool. :cool:

Tried to spot professional money today to learn help myself for this strategy. Here is my trade with nice +20 :stuck_out_tongue:
I have spotted money traded against trend witch was to the upside. later again more, later more. and finally price just stalled then i thought if not now then never :stuck_out_tongue: And the bam nice spread with nice volume. I decided to take proofit when price got to first preasur in downside thought it would be safe and i’m happy with it :slight_smile:
Am I in good way Pete?


You’re right sorry

I just thought I would test the strength/validity of the MML that we have on the madscalper template. I noticed that the GBPUSD was sitting on the MML 2/8 1.4954 and thought i would use my demo account and test it. I bought a lot long and put in a stoploss below the recent low and a target for 10 pips. It gave me the 10 pips and is now going down to test the low once again.

Interesting…

Pete has mentioned the importance of being aware of the MML in previous posts. It’s good to be reminded. Thanks Pete!

why did I fail :(, the 50 ema and 14 ema crossed and then I waited for a pullback and shorted upon return.

I think your magenta 50ma was much too flat to be trading right now. This is also a quiet time to be trading the usdcad.

Wait for the trend to begin.

So I don’t mean to sound like a broken record, but is there a reason why this won’t work with an EA? I guess there are a lot that requires “gut feeling”, but if you can quantize the volume indicator into a formula, then all the pieces of the puzzle fall into place.

What am I missing?!?!?

Good day. A bit tricky trade with two entry’s.
did not took first time becouse wanted to see higher volume witch was on second entry.
Played safe and got quick +11 :slight_smile:
P.S this trade was live on my micro so +2% :smiley:
Looking for another oportunity today
Happy hunt!


GBPJPY is trying to break thru resistance on 1 hr. 5 min has nice upward trend.


Got nice 33/2 lots at MML 135.55. I need to learn that I should not be so greedy. Should have exited 1 lot and let the other run from break even…instead I just kept moving my stop upward until I was stopped out with 33 for each lot. But I was not seeing much activity on the GBPUSD, so surmised that there wasn’t much reason for it to continue up.

Pete what do you think? What is your rule of thumb for exits?

Did you mean 33.2 pips? Looking at that trade and I marked the entry. You did well, are you saying you could have gotten more if you took some off earlier when it first hit resistance? Yes, I like to do that…take off half the trade if it doesnt quickly break s/r and lock BE or manually trail the second half.

2 lot at 33 each.

Hind sight now shows that I should have left one of my lots at breakeven and let it run up to the next MML. Pete do you have any %'s on how often it works out to do that? Perhaps it is best to not dwell on the profit I could have had and just be happy with what I did get.

Good day
Two trades from me today. took 15 on eatch so today +3% feeling happy :slight_smile:



Yep, I caught that EJ …nice.

glad to hear that :slight_smile:

Petefader, thanks for the system. I made 10 pips ( demo account ). The reason i close the order because of MML, overshoot. Would u stay ? And Would u take the order as shown ?. Thanks so much

Could you help me understand the purpose of 15 EMA in this strategy, meaning, what and how does it tell me to trade compared to the position of 50 EMA (if it’s above/below)? I’m not clear on that…

Thanks.

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.)

Yes, I’ve read that. But it’s not fully clear to me. Like, if price is crossing 50 ema, how does 14 EMA tell me to enter long and short? I mean, when does it tell me to enter short and when to enter long?

Also, does the price have to be close ABOVE the 14 EMA to enter in a long trade? Is that another requirement that must be obeyed? For short is it is close BELOW the 14 EMA?

First the price should be in a upward or downward trend. If it is quite flat…do not trade it regardless or where the ma’s are. Once it starts a noticeable trend the 14 will be above the 50 on an uptrend. I wait for the first pullback, which shows a change of color, then when the color changes back to blue and the price closes above the 14 I enter at the open of the next candle. If the pullback is severe and the 14 crosses down below the 50 I would wait until the 14 crosses back above the 50 and wait for the color change to blue with the price close above the 14. A severe pullback might indicate an end to the trend and/or trend reversal.

I find that if I follow the rules closely I almost never lose. When I start fudging and taking risks is when I start losing. Also follow Pete’s VSA thread.