Hello,
Ok guys as I promissed I will explain what I do with this wonderfull MadScalper strategy.
I have 2 substrategys for trading 1min timeframe using 5min TF as a guyde. Using these two in combo man can get veary nice results.
I’m watching EU EJ and GU. Yesterday GU gave over 100 pips using these two. But enough about this lets get started
So first sub is Basic SubStrategy.
The main chart is 5 min chart. I’m trying to catch micro trends
on 5min and use 1min as a trading chart. 1. I’m looking 5min tf to get the color change on DveMashki indi this means posible new micro trend
and possible entry.
After I get color change I put a vertical marker on it.
Look at the chart. This is how it looks after trading day.
2. When I have a color change and marker on my chart I am switching to 1min timeframe.
Now I want to see price nicely go throo 50 EMA for more than 10 pips and then turning back for pullback.
When price is doing pullback this has to be no more than 50% otherway it can be week entry.
Also pullback must not to go throo 50 ema! that is veary important.
Pullback must stay above 50 EMA if its uptrend and below if its downtrend.
I’m droping fib retracement tool to get the numbers right.
In chart below you can see that stuff. Fib must be droped from 5min move.
3. Finaly if pullback is no more than 50% I’m looking for entry.
Entry is when the first oposite color candle apears after pullback. The candle must be nice
representing move after pullback and just after it closes entry must be placed
veary quickly becouse it is 1 min timeframe and things is veary fast here.
Sometimes I’m even placing my entry when there’s 2 or 3 secs left till candle close.
Stop must be placed imediatly 1 pip + spread from last high or low.
BE must be placed after 7 pips. I better get 0 than loss.
Takeproofit in this Sub is 15 - 20 pips so I’m takin trades with risk no more
than that.
After entry is done price must imediatly start to go in my direction.
If there is no action for 3 or 4 min I’m thinking about exiting the trade.
In chart pic below you can see entry after pullback with all stuff
After its done I’m switching timeframe back to 5min and repeating all the steps again and again. The main criteria for takin the entry is Beuty. If price fall throo 50 ema is not beutifull I’m not takin the trade if pullback is not beutifull I’m not takin the trade if entry candle is to wide I’m not takin the trade. But if everything is beutifull I know that it has potential
Thats it with this substrategy.
Other substrategy I will explain later has better RR ratio and produces 3 or 4 times biger profit.
I’m sorry for my bad language its not my native language
If you have questions I will answer for sure
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[/ul]Sir,pls how can I able to know and avoid whipsaws since I always try to catch the markets early.Some Whipsaws even come midway.Pls u guys have to help me .I’ve even increased my indicators to 9…MAcD,Stochastic,RSI,CCI,Bollinger,Moving Average,sometimes Parabolic SAR(but get confused atimes),Fractals,sniperforex indicators,
2.Has anyone of u used Snioerforex indicators.Is it good as they say.My friend says he’s making a lot of from it and will sell it to me 43 a million bucks.I begged like a kid but should I.Can someone help out with the crack.
3.Am Newbie,sincerely am afraid of depending solely on forex since I lost my job.but can I if am disciplined n patient.
Using 9 or more indicators will not make you a profitable trader. The more the better is not true. Spend hours on charts and study and you may get there. Good luck!
Hi to all babypipers, i’m a forex newbie, I’ve finished all the school and tried some trading systems, I have also tried Mad Scalper with original rules for one week, and now for the next week, I’ll try this new method of Mad Scalper but I have one question for you Mr.Janqie about the BE:
Will you set the BE immediately after PA touches 7 pips, or you will wait for more signals? Because in this example
Seems that after 7 pips the PA touches your BE.
Thanks for answers, and sorry for my english, I’m Italian ;).
Thanks Janqie. Very useful. One question - you say you do not take the trade if entry candle is too wide. What does that mean? Does that mean that if the first candle that goes in your direction (before you make the trade) has already progressed a lot, you will decide not to enter? If that’s the case, how “wide” will it be before you decide not to take the trade.
This is a good question since I not explained that sorry. I put the trade at BE not when the price falls for 7 pips in proofit but when the candle [B]closes[/B] for 7 pips or more
Hope that helps
Hello lyrradnat
You are right I’m talking about entry candle witch when its closed I make the decision. Sometimes entry candle is going for 15 - 17 pips witch makes my risk for 25 - 30 pips and If I seek 15 - 20 proofit thats not good RR ratio. This is Important becouse If the trade would close for a loss I woud have to make two good trades to eliminate the loss and bring myself to little proofit. Only third trade would lift my account to bigger proofit. And then comes emotions fear green and other stuff…All that can be if one mistake is done. Its hard to resist not to take a trade if you see quite good setup but its important becouse quite good is just quite good
I want to say about Sniperforex. Please dont belive those who is selling forex systems indicators or other stuff. Thats complete scam. There is lots of people who purchased systems and had nothing with it. Belive me its just a catch for you to let your money flow from your pocket to the market but not back. If I would have a magic system I would not sell it for 100 bucks becouse I could make ten times in one day. It sounds ridiculous. Heres the proof, few thousand in few days and all that stuff. there is no indicator that can make you a good trader only you can. And you can! Everybody can. But everybody neds to work on it.
In forex you can make money with one single moving averige but to do that you have to have lots of experiance. I had a time when I used to treade lots of indicators. But I just got confused every time when I had to take decision.
In trading most importand thing is not indicators. Most important thing is who makes the decision.
If you say you are patient and disciplined I can say its veary good for trading but if you want to trade good you have to work hard instead of looking for magic system.
First I strongly recomend you to go to Babypips.com forex school and work on it realy hard. everybody has not to just read it but to work on it becouse this is basic course of forex.
Then man have to read some good articles about forex psichology.
Then take some system and start to test it. Forex system must have all the ingrediants including entry, exit, money management and etc…
When you fell god with some strategy you can start to put a bit of money. And thats not the end. Only then you start to solve psichological problems. If you do that only after you start gain more and more money.
You can not make yourself richie in one year no way. But in one year realy good work you can make yourself one step closer to that.
Belive me I spend lots of hours reading charts and forex articles I’m trading live now but I’m still felling like newbie.
But Sooner or later I will get there and you will get there too if you want so both of us neds to work on it…
Hope that helps and wish you realy realy good luck!
Your’e welcome,
I’m using fibonaci tool to see if pullback is no more than 50% of the original move. I’m watching three pairs and switching from one to another. Its esyer for me just to put toll than everytime try to get everything right with naked eye
Hi Janqie and all other traders in this thread. I have spent the last half day reading this entire thread and it has been great. I am going to try and follow Janqie’s system as this most suits my style. I will probably not start today as its UK & US bank holiday but will be posting my trades tomorrow and hopefully you (especially Janqie) can advise me on what I’m doing wrong or what Im doing right.
Janqie, I plan on using this method 9pm-1pm UK time (start of London session) and then again 3pm-5pm UK time (start of US session and end of London). Will this be ok?
I notice that around 3-4 weeks ago you said you were trading $5 per pip and I think last week you said you were trading $10 per pip, its great to see that you are increasing stakes and i’m sure your account is increasing too Do you have any figures on weekly results or win %?
Have you considered trading this system staking 2% per trade rather than an amount per pip? From looking at some of your trades you would have been increasing your account 4-10% per trade staking 2%!! However of course losses would be bigger staking 2% per trade.
Welcome to the threat!
Sure post your trades here I will help for sure. You are right about times it would be ok. I didn’t calculate win loss ratio but I had about 20 positive trades in a row but it is becouse of personal jugement too becouse I’m trying to take only best setups I can find and think that it is the key.
You arte right I’m trading 10 per pip and my account starts to grow. Since I’m not a professional trader yet I will stick to it for now and after I will gain more experience I will think about what you said. The main thing for me now is not account grow but I have to learn do all things right as much as I can
Nice to have you here and looking for your trades
Good morning. I just had a +3.4 pip trade on the GBP/USD, I took the trade at 9:20 UK time. I will post a picture of the trade later for you to look at and see if it was correct entry.
Are the only pairs your trade still GBP/USD, EUR/USD and GBP/JPY? Some people have said they use USD/CHF, do you think this would work?
Also, which platform do you use? Obviously I am using mt4 for charting but when I see entry I am placing the trades with Oanda as the spreads are much lower. The spread for GBP/JPY with my mt4 broker is 9 pips so thats why Im using Oanda!
Hi Janqie and all Mad Scalper fans.
Just finished reading the whole thread,and started practicing the system on 1 min chart, got 35 pips 2night! Hopefully that wasn’t just beginners luck :rolleyes: Janqie, sorry to bother you with this (newbie question) but I am not sure about the Fib levels, would you be able to explain it a bit more with 50% pullback and where to place the Fib levels?
Thank you! And thanks Petefader for coming up with this system in the first place
Ok so I spent my first morning trading this system on the 1m time frame. I had 5 trades, 4 winners, 1 loser and a total of +44 pips. I have tried to attach an example of one of my trades. It was a +10pip trade on the EUR/USD. The vertical line is where there was a trend change on the 5m TF and then then red up arrow is where I entered and the red down arrow where I exited. Arrows are a little hard to see, I will try and improve my way of attaching charting to make it easier to see trades.
Hi Trish7, it would appear you were trading many of the same trades as me. I hope its not just beginners luck with both of us lol. I would also like to know about the fib levels. I know the original method by PeteFader was to not trade close to these fib levels but is it different on the 1m chart Janqie? I dont see you mention them too much or is it just a case of be aware of these fib levels?
Ok so I have tried to attach my chart of the trade. Dont know if it will work or not as its my first time. I will also attach a chart of my loss later on. I think I know where I went wrong on this anyway.
Ok so this is my losing trade. I didnt feel good about this when I was doing it as price action was a bit eratic as I was entering. You can see that the last red bar before I entered has a very long tail and also the green bar before I entered is quite long. This meant that the trade required a big stop loss as there was a big gap between enter price and last low. I think it may have just about broke the rule of not entering if the retrace is 50% or more than the breakout. As Janqie would say, this was just simply not beautiful.
I entered anyway as this if my first day and as you can see got stopped out a little while later. Every system will have loser but if you can try and continually improve the system and your trading the losers will keep to a minimum.
Hey,
I’m using those pairs becouse I like them most I used to use GbpJpy and UsdChf too but now settled just with those ones. I think this system should work with other pairs too for sure becouse its based on simple pullback entry.
Im useing mt4 too and spreads I have is 1 - 3 pips so I’m kind a happy with it.
Pls u guys have to help me .I’ve even increased my indicators to 9…MAcD,Stochastic,RSI,CCI,Bollinger,Moving Average,sometimes Parabolic SAR(but get confused atimes),Fractals,sniperforex indicators,
Do you have any figures on weekly results or win %?
