The signal has come for the USD/JPY but not too sure as the 14MA and 50MA have crossed over recently and I’m sure there was something in the thread saying to avoid that. I will check, but not trade yet until I am sure of a signal. USD/JPY at 80.965
The signal is valid. Once the 14 ema crossed the 50, there was a pullback to red and the 50 slant still down. There is a bit of risk, I have S1 support at 80.90, so good to Lock BE there.
Thanks for the confirmation there Peterfader. i didn’t take that one, but I have watched it and use it as a learning experience. I am trying to only trade when I am sure rather than the other extreme of finding something that may not be there just to place a trade. I now see the USD/JPY is hovering on the S1 support, so could have claimed 6 or so pips, but in not going for it, I did guarantee that I didn’t lose by guessing at least. Good way to learn. GBP/USD may be about to give a Buy signal. Also got a hunch the AUD may take a bit of a dive in the next hour or so. Let’s see how it goes.
Thanks again Petefader. Your support for everyone has been such a learning experience for me. I just hope I don’t ask questions that have been asked before or ones that seem too stupid 
No question is stupid. People shouldn’t be so arrogant to put down those who don’t know much. But the good thing is, in the forum, people are really helpful.
Just entered short on e/u at 1.41908 after all signals lined up. Hope to take it down to support at 1.4160.
This one didn’t work out for me, hit my stop loss at 20 pips above entry. Oh well, can’t win them all.
Pilotalexander, do you want to put your chart up here so others can look at it. Maybe analysis from others might help you understand if the trade was valid, or whether there was an issue with it??
Sure, thanks. Here is the chart
As a Mad Scalper entry it was alright I guess. I just wouldn’t enter after that extreme volume you can see on the bar just before your entry.
I have extensively tested this system past week on many pairs using VhandsTrade. I went thru past three months (I speeded it up). I have used this system [B]without MMLs or Pivot points[/B]. All I can say is… It just doesnt work. Therefore I assume you won’t be able to program a good EA because there is just too much things you have to consider. I have also experimented with different TP and SL. My conclusion from that is that [B]there is no “magic” number[/B] of TP and SL with this method and you need to always watch out for resitence and support levels and tweak your SL/TP according to those.
I have never been profitable after three virtual months of trading on any of the 6 tested pairs. I believe this system is amazing as it is and [B]you can’t omit any PART of it[/B]! This should serve as a warning for newbies like me who want to make things little easier with this system. [U]It won’t work[/U]. Trust me
Right now I am back to square zero. All I can do is forward testing on demo because back testing is impossible cuz of pivot + MML which change every day.
2Braindimage:
The 50EMA is barely slanting up. It’s not enough tho. The trend is not strong enough to support the price. Also the volume is low.
Look at the very right side of your chart. This is how the trend should look like. You could enter that kind of trend on a retracement (red>blue>red).
I thought that we want there to be sufficient volume right before the bar we enter on? At one point Pete stated specifically he did not take a trade because the volume was not high enough…
On the first page of this thread there is an example posted by Pete showing a trade he took where the trend looked about the same angle as Braindamage’s trade. Would it be beneficial to use something like an ADX or RSI to determine if the trend is angled enough to take the trade to keep our win ratio as high as possible?
All I can see (but I am a noob as well) is that SagiCZ’s graph shows the entry right after going through the Pivot Point which I assume would probably have gone back like it did in theory.
Braindamages graph shows an amount of indecision before the retracement. I didn’t read anything about that in this thread, but I assume that is maybe isn’t an ideal trade because of this??? Maybe the retracement needs to come off a good 50 EMA trand without the indecision.
Just my thoughts as a noob and not really as an authority on this method.
btw, I have just gone long on the USD/JPY @ 80.022 with S/L 80.802 and TP 81.222
Guys beware, it seems EU GU and AU all got potential to have a setup soon (down) ??
Am i right?
petefader, can I ask something.
I have downloaded your mad scalper.
The grey line which consist of 8 lines…
all of that 8 lines is considered as S/R?
Open the MML indicator in the MetaEditor and read the comments or google theory about MM lines. You don’t have to ask every little thing. Don’t be lazy.
Thank SagiCZ,I had doubts about MML, and this description is reliable?
nice trade
Mad scalper didn’t worked for me, I was so frustrated that sometimes the MM holds and sometimes don’t and most of the time I had it wrong.