Really nice trades. I have been using another tool to really help a lot with the mad scalper method. Take a look and tell me what you think.
http://forums.babypips.com/free-forex-trading-systems/31660-range-bound-trend-trading-picking-tops-bottoms-7.html#post184535
I have an offer . i see that a trader like [B]janqie[/B] attach result of a trade that he was done and i ask you and advice that before you take a trade you can tell other members that an apportuniti is ongoing and this will help new member like me.
thanks a lot.
Just started looking at this thread; is everyone still using the same strategy and settings as the original poster or have there been refinements to the system in question?
i use it in demo by firs seting and results good.
Same settings here. Just finding that we can enter earlier with the 1 min and confirmation on direction with Bollinger Bands.
hi, plz explain with an example that how we can do this. are you mean that we check 1min time frame ? and this will be enogh ?
thanks before
Mad Scalper rules require a nice slant to the 50 ema before entry. Too often by the time I decide that there is sufficient slant, the trend is half-way over. If it is a nice long run it doesnāt make much different, but very often in the case of a short run, it is almost over by the time I make an entry. I find that the 1 min chart will help get me in early. Janqie has posted posted some good examples aboveā¦pic on the left is the 5 minā¦pic on the right is the 1 min.
I have also found the principles of the Range Bound system will help me confirm what I am seeing on my mad scalper chart. Range Bound utilizes Bollinger Bands. I suggest you take a look at it. It is a short thread and quite simple.
Hi there, I havenāt read through the whole thread yet, but does anyone know how to get those settings into āDealbook 360ā? donāt use mt4, Cheers 
PTB I looked at it and it seems weary powerfull combination, thanks for pointing it out. I think For now i will stick to my rules but will give close eye to what you are doing and learn how it works
Thanks!
Hi
Sure i can do it, no problem. I have just finished my clear rules of what I like to see and later I will wright post with all the rules as clear as possible. But first of all you must know original MadScalper weary well.
Anyway veary nice to have new traders in this thread
As long as youāre doing well, keep doing it.
Just how are you using the 1 min chart in your trading?
Ok I will try to explain all steps and rules.
Iām trying to catch early stages of 5min trend and stay with it as long as I can.
1min timeframe gives veary good entryās and good defence strategy.
1. Iām looking 5min timeframe. I must see possible cross of 50 and 14 EMAās
such like in picture. Possible cross means possible new trend.
I like to see that price went for 10 - 15 pips from EMAās.
2. When I have possible new trend Iām starting to look for entry on 1min.So I switch 1min timeframe and look for beutifull MadScalper entry.
I think new traders have to read this thread becouse Pete made veary
god job with it and like for me it is veary informative.
When Iām looking for entry I donāt like 1 or 2 candle retracements becouse I am on 1min now so
retracement must be a bit wider ( 5 - 7 or more candles )
3. Just before taking trade I switch timeframe to 5min and look if EMAās
realy have crossed. If yes Iām taking the trade. If not it can be bad trade
and Iām not taking it.
4. Most important - Defence. My stop is 1pip+spread on last high for
shorts and last low for longs. It is about 5 - 7 pips This is important becouse
if the trade is bad it can imediatly go to the other side and brig you imediate
loss. Note that you are on 1min timeframe. Even after 2 or 3 bad trades
I can bring my account to proofit with one trade becouse I am looking
for 15 and more pips.
5. Defense part 2. After I get 7 or 8 pips Iām putting my trade to break
even. It is becouse I beter get BE but not loss. Iāve seen many situations
where price went for about 8 pips and then gave me loss.
6. When Iām on BE its more relaxing Now I can decide if I want to grab what I can or let it run for more. If I decide to take it right a way Iām
doing it if not I play #1
7. #1. If I decide to play #1 Iām tracking all the highs if Iām in short and all the lows if Iām in long. Valid low or high for me is when price moves from it for
7 - 8 pips. Then I can put my stop to last high or low.
8. I can move my stop all the way with the trend untill it ends up.
And now I am on freeride and it is more relaxing and exiting
9. End scenario. Iām letting highs or lows end my trades by breaking it
and safely end my trade. Or I watch MML on 5min timeframe for possible end
scenario. In this case it wass MML on 5 min. I decided to exit becouse I was
already 35pips in green
So thats it! All these rules I made for myself its just becouse not to break
them. All the systems fails some times and if after bad trade i now that
this is becouse of system failure Iām happy becouse I know that system
will cover it and bring me proffit. And if after bad trade I know that it is
becouse of my fault I fell like I had thrown my money to garbage can.
So I think most important thing for trader is to
Keep Folowing The Trading Plan
2010 May 27 update
Iām updating this becouse now Iām tradin like this. All the stuff described in earlier posts and: Possible new micro trend change on 5min is every color change. then Iām switching timeframe to 1 min and looking for beutifull MadScalper entry. Its done becouse to have more trading oportunitys then man can filter only beutifull ones.
2 Likes
Just an observationā¦perhaps you could keep an eye out for this and see what you think.
Too often, when I want to enter a mad scalper trade, I am unsure of whether or not the trend has started. One of the primary rules has to do with the slope of the 50 emaā¦so we have to make a judgement call. If I enter too soon I sometimes get stopped out when the price reverses back in the direction of the original trend. If I enter too late, to make sure the trend is definitely going my way, I to often find that I get in too late for very little profit. If the trend keeps going that is not a problem because there is plenty of room to get me 20 + pips. So Iāve been looking for ways to help me make a safer and more accurate determination. That is why Iāve started using the Bollinger Bands.
But in going back over the last day or so, in which the EURUSD has had a nice +100 pip rally, I notice something. Using the mad scalper templateā¦I noticed that from the start of this last trend, 1.3280 on thursday, to yesterdays close, on the 5 min time frame, the 14 ma crossed the 50 ma 7 times.
On the 15 min time frame it crossed only once, when it started up. It touched it once and the price action crossed below it twice. But there were no actual crossings of 14/50 on the entire run. Of course the same thing on the 30 min.
In scrolling back in time on my charts this morning I am observing the same thing on previous movements. The most recent movement down was for 300 pipsā¦with a few 15 min crossings but very few compared with the 5 min. I think I can use the 15 min time frame to confirm the direction and help keep me trading with the trendā¦and out of bad trades that end up going nowhere.
I remember reading from the experts that the secret to making money in trading lies not in making money but in not losing money.
You are right 100% I think trader can understant it easy or hard way. My was second
And about confirmations of higher timeframe you are also veary right. Thats why Iām using 1min timeframe conected to 5min timeframe. I also looked at 15min and 30min but I want quicker action. Think MadScalper is flexible enough that trader can decide if he want to trade slower or quicker.
Thank you very muchā¦very good and useful information.
Thanks!
Hi Janqie,
Would you mind sharing your template.
Could someone tell me pls how the settings are for this system? I use Dealbook 360, Thanks :o
Since there has been more talk about using different time frames recently, I thought this post was very worth reading again.