Scalping strategy to finish the year strong

Could you do a yt video or a recording how exactly you use the strategy? I find it difficult to understand it, really… :see_no_evil::grinning:

Noice! A bit early! Ha. Congrats on the success. Jan and Feb were positive. Then Mar I reading waaaaay to much crypto stuff and trading. Lost my groove. Down about 50% of the gains made in Jan + Feb. Down lover 100% of Febs gains. This month, back to more short term trades, up 4.25%, 2.4% for the week.

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Hi priceactionDan!

Hope all is well with you and sorry to take so long to get back to you.

I don’t do any videos. I’m not even set up for it. All of my recent trades have been on the weekly chart so videos for them would be difficult anyway.

Are you on tradingview or mt4?

Since I am on mt4, all of the recent screenshot strategy examples show mt4 indicators.

Maybe when some of my open trades on those long-term charts close I’ll have a chance to go back to some of those mornings where we trade on the m1 and M5 charts together during the London session.

I am also trading on MT5 so I understand but I do not have the basics, when to take the trade, where to set SL, etc… it is confusing just following the threads (I also have ADHD so my attention spam is all over the place). I learn fast but if someone would show me exactly what is what…


Best long trade entry is when Green price is near or below lower CAP Channel line. Enter when Green 7EMA crosses over lower Red 25EMA.

Set SL below lower Red. I would set it below the Purple 200ema in this example.

When price reaches the Gray Cap Mid point line - move SL to at least break even. You are looking to close the trade at the mid point line, or moving your SL to a profit (Perhaps over the upper Red 25EMA). Then keeping the trade running to see if price reaches the upper CAP Channel line and then closing.

Of course, you can always choose to continue locking in more profit if price should go above the upper Cap Channel line if you want to. but the whole point is that there will be a few opportunities each day on a high volume pair, most likely a USD pair.

I suggest only trading this way during London and early NY sessions. If possible, either close any trades opened during London before the high impact news of 8:30am New York time, be sure your SL is set to break even or profit by that time.

Using the strategy this way keeps any losing trade at a very small loss. If you want to take the trading to a more advance level, I like a wiiiiiiiiiiiiiide SL and to cost average entries if price goes against you. The cost averaging method is used in all of the King of Forex videos on YT.

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Last night was awesome and this morning was awesome.

Last night, nzd/cad I closed out some profits and then set a new pending order assuming a pullback, which happened overnight. Same with aud/usd.

Closed out both and I now have three open trades that looks like they’re going to next week or beyond.

Anticipation on open trades is a cumulative 600 to 800 pips.

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Step, find all the indicators and see if they exist on MT5.

Using the Envelopes indicator on D1 charts.


The double white lines are Envelopes set to 14 simple.


The blue double lines are Envelopes set to 100 smoothed.

Close up of the white 14 simple Envelopes on weekly.

Daily chart with Envelopes


I see great opportunities here.

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M1 scalping Using Cap Channel, EMA cross, and 100 SMAs.

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That stuff looks advanced
How long did it take to make?

Hi DaddyPL

Its really easy, and basic.

All indicators are free for mt4.

I still wonder how people lose money trading when its this easy. But I did it for years myself, so I get it.

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Give it a shot! Great thread to get involved in and @AmericanTrader is awesome for always answering questions.

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I know
But is that a custom indicator?

I tried making my strategy into an EA.
The function that outputs the price level where a fractal formed outputs some outrageously big number instead, so I gave up on that but I’m still learning :upside_down_face:

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One custom: the TicksSeparate volume
TicksSeparateVolume.ex4 (14.6 KB)
.

Non-custom:
Cap Channel - no change to settings.

Emas
Yellow - 7ema
Blues - one 25ema set to “high”. one set to “close”.

SMAs
Whites - one set to 100 “high” and one to 100 “low”.

The candle colors are from an indicator that shows if they are above the MACD zero line or below it. Its not needed really.

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We’re all still learning.

I believe many strategies work, if used properly.
I think the ones I use show a real good entry and exit point.

I hate to lose a trade. It ruins my day. So I try to make losing a rare thing. If I’m scalping, there can be some little losses if I’m using an SL. But almost always its making money before stopping.

If I’m on the D1 and Wk1, I don’t expect to lose. It does happen. It’s happened 4 times in the last 12 months. But when one loses, I’m usually still up for the day because of the other open trades.

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The indicator combination looks SICK. Maybe you should give it a name like Leviathan or something.