Scalping strategy to finish the year strong

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4576

Hi akhouri:

Most of the indicators give similar information, just in different visual styles. I’m not sure it matters which ones you use. As for signals, you just have to choose which ones you are comfortable with. For many of us traders we have to always consider our account size when figuring out what trading system to use. I almost always have an SL that allows me to keep trades open for weeks or months. That shows my trade direction prediction is often wrong, but I typically win by waiting them out. I place trades on similar pairs in the correct direction until that initial trade turns around so that I can stack up wins in the meantime.

So, in my personal observations, a price channel of some kind helps a lot as a superior filter. The ones I like best may not be available on TradingView, but surely it has some that are good equivalents. Although, as I said, I am still often wrong.

3 Likes
4577

THANK U SIR
I HAVE DECIDED TO BACKTEST YOUR BASE STRATEGY OF EMA 6,32,AND 14 WITH PSAR…ON EUR/USD. LET SEE.[quote=“AmericanTrader, post:4576, topic:970430, full:true”]
Hi akhouri:

Most of the indicators give similar information, just in different visual styles. I’m not sure it matters which ones you use. As for signals, you just have to choose which ones you are comfortable with. For many of us traders we have to always consider our account size when figuring out what trading system to use. I almost always have an SL that allows me to keep trades open for weeks or months. That shows my trade direction prediction is often wrong, but I typically win by waiting them out. I place trades on similar pairs in the correct direction until that initial trade turns around so that I can stack up wins in the meantime.

So, in my personal observations, a price channel of some kind helps a lot as a superior filter. The ones I like best may not be available on TradingView, but surely it has some that are good equivalents. Although, as I said, I am still often wrong.
[/quote]

*[quote=“AmericanTrader, post:4576, topic:970430, full:true”]
Hi akhouri:

Most of the indicators give similar information, just in different visual styles. I’m not sure it matters which ones you use. As for signals, you just have to choose which ones you are comfortable with. For many of us traders we have to always consider our account size when figuring out what trading system to use. I almost always have an SL that allows me to keep trades open for weeks or months. That shows my trade direction prediction is often wrong, but I typically win by waiting them out. I place trades on similar pairs in the correct direction until that initial trade turns around so that I can stack up wins in the meantime.

So, in my personal observations, a price channel of some kind helps a lot as a superior filter. The ones I like best may not be available on TradingView, but surely it has some that are good equivalents. Although, as I said, I am still often wrong.
[/quote]

4578

I’ve been playing these two weeks with the EMA 14 over EMA 32 strat and the white line over Heinki crossover and wanted to share some thoughts:

  • EMA 14 over 32: this strat can be enhanced adding volume to the equation, reducing the fake signals. Doing so will give you 2 to 3 valid entries each session. Also, I’ve struggled to be profitable this week, possibly because I’ not achieving a good R/R in my trades. I place the SL considering previous candles below or above the green EMA and my TP in the next supply or demand area, but this usually gives me no more than 2:1, at most. I read that @AmericanTrader sets the stop just a bit below or above green EMA, but even with that, setting my TP in the next S/R area does not provide usually a high R:R.
  • White line over heinki: again having R:R issues. I feel that this strat is more suited to mid to high timeframes (above 15 min). Below I have noted it can. be a bit choppy and may give fake signals.

What are your thoughts on my views? I’d like to ask as you have months of experience with these strategies. Thanks!!!

4579

I think this is a good idea. I traded this for over a year I think on a small live account, like $30. You’ll find what you like and don’t like about it after trading it over dozens or hundreds of trades. I think it’s the best way to learn!

4580

What are you using to get this info? Just a basic volume indicator?

4581

Spot/CFD forex does not have any market volume information available. It’s a decentralized market. You cannot know what volumes are traded and neither can your broker.

3 Likes
4582

Yea, I know its tick volume, but it’s why I asked. Still think there’s some value in it.

4583

That’s a misnomer, @samewise . Tick “volume” is not volume at all.

You know that, I know that, @DivaMakosh knows that and @AmericanTrader knows that … but many people reading the thread don’t know that and will be hugely misled and misinformed by comments about “volume” and tick “volume”!

Someone stating that a strategy of this kind “can be enhanced by adding volume to the equation” just has absolutely no idea what they’re talking about.

This type of content isn’t helpful to anyone in the forum (least of all to the beginners for whom the forum is designed). It should be reported to the moderators and removed.

3 Likes
4584

That’s why I’m asking how they use it buddy. I get that it’s not trade volume. It’s actually a really good discussion to have because most traders probably think it’s actual lots traded instead of just activity of price changes, and specific to the broker/LP they have and not the entire market.

It’s why futures looks so interesting to me. Because of the real volume data you get access to.

1 Like
4585

I know you do. But most people reading this don’t. (Including, obviously, the person who made the original comment I quoted). Thanks for your reply, anyway. I’ll leave you to it.

Apologies for the “disturbance” in your fine thread, @AmericanTrader ! :blush:

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4586

No worries.at all, really. I see “volume” thrown around so whenever anybody says they use it as part of their strategy, I want to get into the details.

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4587

CFD brokers just call it volume to allow their customers to imagine that it’s volume :thinking:

It is not even a guideline or approximation of volume, really it has nothing to do with volume at all, is only a count of the number of bets made by their own customers, this is the only information they have. When they call it volume, some customers will maybe imagine or pretend that they trade in a market, but this is not true.

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4588

I meant tick volume and yes, in this time I have noted that using it provides less false entries than not using it @TheodoreThring @samewise @DivaMakosh

1 Like
4589

That’s really terribly mysterious (to put it mildly), isn’t it?! :open_mouth:

How could a count of the number of bets your own broker’s other customers make have any “predictive” value on the currency markets? For a start, it’s a parameter that obviously changes hugely from broker to broker, too.

How do you try to use it, @pablofonten ?

2 Likes