Mad Scalper

sspremj · December 29, 2010, 2:40pm

Hi Finch,

Check this webpage - Forex trading platform, best forex trading platform |IBFX| forex platform trading, MT4, MetaTrader 4 - Interbank FX Hope this helps.

Regards,
Prem

PerchTird · December 29, 2010, 8:03pm

ayefinch - I am going to give it a shot -
I also want to load these, and it seems to have worked so far so I’ll tell you what I did .

Step 1 - I assume you get to the point of ‘download’ and you can see a folder called Mad Scalper?

Step 2 - double click it - it shows 5 files.

Step 3 - 00ps maybe you didn’t get that far, step 0 - when you hit download button - do NOT save - - - simply hit "open"
OK?

Step 4 - back to the 5 files - each of these is for a purpose and needs to be placed properly.

Step 5 -
A) are you familiar with drag and drop?
B) do you know where the experts folder is for your mt4 platform?
C) Can you use ‘explore’ feature to find this folder?
D) drag the 5 files from the download folder, to the mt4 experts folder. (BUT…BUT)

this part is to see if you get that far. the file that ends with .tpl is a template, and does NOT go in the experts folder , it goes in the template(s) folder.

Also - the other files should go within the indicators folder that is inside the experts folder.

this is what i did , there might be a different better way???

PerchTird · December 29, 2010, 8:17pm

So now I have it loaded and what do I see? Hmmmm a good sign I think!

(is this a reasonable trade for this method - I am pretty new to it)

petefader · December 30, 2010, 12:10pm

Yes, that’s a valid setup. Maybe a bit luck that it was able to move that much at that time of day…assuming your broker time is gmt. About 8-16 gmt is ideal trading hours.

PerchTird · December 30, 2010, 2:31pm

And so maybe a silly question, and I did see a post earlier that eluded to the answer being a simple YES, but I am dense, and need it spelled out.

Does this work on a larger time frame?

1hr or 4 hr? I’d assume you may only find 1 entry a month or two, but I also assume that entry is with a very tight SL - and you would shoot for 100’s of pips vs 15-25 pips.

Anyway I plan on studying this and Janqi’s style on the 1 minute charts.

petefader · December 30, 2010, 2:48pm

I’ve never used it on other Tfs. I think it has potential on the 1hr and 4hr due to it’s VERY basic principles of identifying a trend (50 ema slant that holds during retraces)and when that trend will continue. Yes, at least 2:1 RR makes sense. The danger would be long periods of ranging price, as with most trend catching systems…but perhaps the 50 ema rule will deal with that ok. Also catching a trend late.

ayefinch · December 31, 2010, 9:02am

Thanks for the info, I’ll give it a shot and let ya’ll know if it works.

Regards

Finch

itsallover · January 1, 2011, 8:09am

Hope this works.
Can someone tell me why the colour indicator doesn’t show?
I’ve just downloaded petefader’s scalper[http://i1090.photobucket.com/albums/i364/allmytrades/chart1.gif[/IMG]"]

]([IMG)

PerchTird · January 1, 2011, 9:45am

itsallover - it looks like your missing this one

ytg_DveMashki_ind.mq4

do you have this indicator in your indicator folder? attach it to the chart then save your template under a new name. then each time you load the template it should keep that indicator on it.

Hope that helps

itsallover · January 1, 2011, 9:53am

Thanx Perch Tird.
I’ve now put all the indicators in my indicator folder. I googled " installing indicators on MT4" and came up with a really good tutorial.

Mudder · January 2, 2011, 8:12am

I’ve been trying this out and it’s a nice, simple system (besides all the cool indicators). I’ve read through most of this enormous thread and haven’t really seen a solid exit strategy. I’ve been toying with parabolic SAR as an exit indicator. You give up a few pips at the end but it looks fairly consistent. Enough to run two contracts (or close half a position) and let the second run until the SAR says.

Has anyone else checked it out or are you all just going with first hints of reverse?

PerchTird · January 2, 2011, 8:42am

I’m still backtesting, trying to come up with a confident understanding of when to or not to enter a trade.

leckytech · January 2, 2011, 4:41pm

My eyes are bleeding after reading 110 pages.

Gotta give this a go on a demo :0

VSA escapes my puny brain at the moment,too much to absorb but it seems to be used by a lot of peeps, I’ll now switch to the VSA thread and persevere.

Great system Pete

PerchTird · January 2, 2011, 8:14pm

I’m planning on practicing diligently - “not losing” with this system.

I have started off 2011 with opening all three pairs as they all gave a valid signal.

Major exception - -it is not time to trade, I am just practicing and getting in the mindset of Don’t Lose.

SO the G/J went against me asap. But the other two were like the pic below. Took 1/2 profit and moved to BE.

NET result of all three is a loss of 3 pips I think. (again just practicing)

I went through charts this weekend for “business hours” and then shrinking that in 1/2 for “my business hours” as I don’t have a whole ton of time - -unfortunately it didn’t look promising.

But I was taking way to many trades during ‘flat’ ema’s and or 14 crossing the 50 a few times etc.

petefader · January 2, 2011, 9:25pm

It’s perfectly normal for VSA to be confusing at first…happened to me too. It’s like hearing for the first time that the earth is round and not flat.

petefader · January 2, 2011, 9:31pm

I don’t trade G/J anymore, just too wild at times. USD pairs move just fine for me these days. E/J is not bad…but i dont trade it much anymore either. You have to be picky with trades. Make sure it’s the right time of day and draw some basic s/r lines to be aware of. You should be able to get 1-2 good setups a day following just a couple pairs.

PerchTird · January 3, 2011, 8:35am

Thanks for that. I think I will concentrate only on USD pairs then.

maybe to occupy time, I can try to come up with some sort of filter for JPY pairs??? who knows.

CocoBg · January 4, 2011, 9:45am

Hey guys,

I have jsut started giving this system a try on EUR-USD.

I went long on the Green bar jut underneath the yellow arrow.

The 5M candle had just closed above the 14EMA, was above the 50EMA which had been generally slanting upwards, and the blue bar had just reappeared at the green bar indicating a reversal compatible with the upwards slant of the 50EMA.

I went long for 1 lot and then got closed out at the next candle for a 15 pip loss.

Is it just that all trades simply do not work or did I forgot one of the rules?

Thx

Koopa · January 4, 2011, 9:52am

Hello Coco,
In my humble opinion there were 2 problems in your case:

First neither the 14EMA nor the 50EMA were obviously going upwards. You should have waited for them to give you a more obvious direction.
Second, I can’t really see on your screenshot because the resolution is too low, but I think you traded just around a reverse line (the grey one). My understanding is that doing this can be very tricky/risky, you should have waited to be in a “safer” area.

Please anyone correct me if I’m wrong in my understanding.

CocoBg · January 4, 2011, 9:55am

Ok so they really do need to be going way upwards or downwards. And thanks I had totally forgotten the reversal line. Will keep posting on progress.