I have been actively testing this method, so far up 208 net pips…anyone else out there still using this?
Hi EACoderITA,
A few people have asked about coding this for an EA. If you wanted to have a look at it, I am sure many people would love to see it, me included. Personally, I would like to use something like that to alert me, then make the trade manually once I have verified everything. If you want to have a look at it, thanks from us and good luck. Look forward to hearing from you a bit later on 
Hi everyone,
Finally go through the 113 pages of information and understand the Mad Scalper method, and loaded the indicators on my MT4 platform. I started usiong it last night (local time) which is the NY and London sessions. I am using Forex Market Time Converter to make sure I am trading in the right sessions (Forex Market Hours - Forex Market Time Converter).
I took two trades last night,
Buy Eur/USD @1.4138 with 20 pip S/L and 20 pip T/P. Took 20 pips profit @ 2% risk
Sell USD/JPY @81.097 with 20 pip S/L and 20 pip T/P. Tool 20 pips profit @ 2% risk
Went to bed after setting up the trades and woke this morning with 4% increase to bank account. Nice start.
I will also post all of my trades as they happen. A notification if I remember when I take the trade and a chart when it is closed.
Hi Tassiefx,
Glad to see someone else has taken the time to go through the whole thread and began to use this system. Since I live in the U.S., I am using this method during the first 4 hours or so of the U.S. session and periodically I can catch the open of the London session. I have been religiously following this system for the past 5 working days and am up +285 net pips risking 2% per trade. My strategy up to this point has been to place 2 separate 1% risk orders on a trade, set 20 pip s/l on both and a 20 t/p on one and once the t/p is hit on the first one then I’ll move the s/l to BE on the second and set a 20 pip trailing stop and let it run no matter what happens. So far I haven’t determined if that is more profitable then just taking the 20 pip gain, but I will continue to test it.
Hi pilotalexander,
Thanks for the comments. I am planning to post on this tonight (AEDST) as I trade to see how I go and if I make any mistakes. Hopefully, others may start to do the same thing with the “traditional” Mad Scalper and see how things go. Maybe, it would even be good setting up a Skype room as such, but I haven’t looked in to that yet. Will do tonight.
I must say a big thankyou to petefader as this system has helped me so much, along with this forum. Before, I was drowning in information and “Analysis Paralysis” but now I see that simple can also be effective.
I will be back on a bit later today to see how things go.
mmm, just got home from work and there are a few contenders tonight by the looks of it. The AUD/USD would have been successful a few hrs ago, but seems to be tapering off a bit. The Eur/USD is about ready to try a trade with. Been going down a bit and just had 2 bars of reverse. Just waiting for a change again maybe. Same with USD/JPY and 10 minutes late to try the GBP/USD which has retraced and come back up nicely already. Will post when I decide to make a trade
Just took a trade on USD/JPY - Buy at 81.204
Lets see I can get 20 Pips out of it
I took that trade too! My first trade with this system.
But what about the resistance at 81.250 ?
True, things for us noobs to check. I missed it. I had also noted a report that the Japan gov’t is going to do what it can to get the yen back to pre earthquake levels. I rode it down last week, maybe up this week. Also noticed volume not real high, which may make it hard for 20 pips. Will check when it nears resistance and see how it goes. Fingers crossed.
And as I wrote the last note, it broke through resistance. Keep going!!!
And I just got stopped out @ 81.004. Now for analysis. Maybe it was due to volume since it was a candle of large volume that killed the trade? Was it because it was close to the resistance level, even though it broke through it, or was it just lucked out. Time will tell as I learn more, maybe even some comments from our learned colleagues here??
Any comments on what should have been done are appreciated. Maybe even go for just the 10 pips, but I thought I’d stick to the rules rather than get queezy and get out early
Hello, someone to talk about this system!, i think u got bad luck in this trade, i have an operations now, gbp / usd M1 21/03/2011 - 18:25 buy at 1.6309, SL 1.6299, TP 1.6321, I think I’ll lose that trade, if you want to discuss the mad scalper system, tell me,I’m new in this system and would like someone to discuss as you may have seen my english sucks.Cya
You can see a previous buy signal that didn’t go anywhere but back to red. Taking a signal right after that would be more risky. You want to see clean moves.
Hey, What can I do here, close, try to be breakeven …?Thanks.:
[B]Price:[/B]1.6312
[B]SL:[/B]1.6297
[B]TP:[/B]1.6327
http*://img17*.imageshack.us*/i/imagempmfn.jpg*/
You need at least 5 posts to be able to include links in your messages.¬¬
Were you trying to go short here? That would not be a valid signal since the 50 EMA was completely flat. You should only take trades when there is obvious slant to the 50 EMA and only trade long when the price is above the up-slant 50 EMA and trade short when the price is below the down-slant 50 EMA. This is just my observation.
is a long trade man
[B]Type:[/B]buy
Back on again. Thanks Petefader. I think I understand what you said with the previous buy signal going nowhere. Are we supposed to take any/much notice of resistance levels with this as well? I have also just started reading your VSA thread to hopefully learn some more. I am serious at trying to make this an income for me.
I have missed a few successful trades about 4 hours ago, but am looking now. Some potentials there on AUD/USD but may be a bit close to resistance (currently 1.0120, pivot reverse 1.0132)??
USD/JPY may be getting close to a sell signal even
Yes, always consider that price may not break the s/r levels. So buying a few pips below a resistance would be unwise. You can also use them as targets.
It’s good that you are learning VSA now. Mad scalper is nice for an automatic system, but if you really want to understand what moves price, all you need is a volume indie…funny as that is lol. But a lot to learn there.