Scalping strategy to finish the year strong

Rocktrucker

I see the manual signal. The indicator settings look to have filtered the buy signal out. I see other forum members saying they had to turn off the volume filter if they want to see all signals.

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EJ and CJ stalled out. Total profit 13 pips for me.
Reached major resistance. If EJ breaks through, may re-enter.

Closed all trades for now.

GMT-5

5:30am EUR ECB President Lagarde Speaks
7:30am EUR ECB Monetary Policy Meeting Accounts
8:30am CAD Wholesale Sales m/m
USD Philly Fed Manufacturing Index
USD Unemployment Claims

AmericanTrader

That did solve the problem straight away, thanks so much for your help. So if anyone else is having the same problems please do this below:-

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Today i think am not okay, get confused between TV and mt4 settings… @AmericanTrader do you mind clarifying to me the particular updated settings and indicators you use as i see we both use mt4.

(excluding settings for range markets)
thanks

@inno256
No change to Eur/Usd

Others are using same settings for other pairs.
I am using these settings for 1M / 5M for Eur/Jpy and Chf/Jpy

I am liking Investment Castle Supply and Demand indicator for support and resistance.
The lower window has We Trade Live Trend Entry Exit indicator.

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I seem to be extracting little bites of profit so far. 2 more 6 pip wins each.

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Oh. Its one of THOSE days.

@Neddyboy50

I have used it a couple of times and it does make money when the markets move in either direction. The indicator is very simple to read and just follow the rules set out in the video. I did have them up all written up but I can’t find the file now I have restarted my PC. I would say the major downside with this strategy is that although it is on a short time frame, you do have to be very patient with it as you have to wait for pullbacks in either direction before you enter a trade and that’s only when markets are actually moving and not ranging. I have set up some alerts on tradingview and these are as follows.

Possibly this strategy should be used during the hours when there are high volumes like we do with the EUR/USD strategy. These are the alerts I use BUT you must wait for Pullbacks to occur before you enter trades which is the downside bit :upside_down_face:

You should be able to use a Stoch with it set as 5 5 5.

To be continued…

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and then set up 2 alerts with one crossing UP (like the one below) and one crossing down the 50 below the 150:-

You can keep the alerts open ended too, ignore mine as my annual premium plan just expired yesterday and I have to renew it or just ditch it as the price they want for it has tripled since last year.

You may want to use this as a confirmation tool to the strategy used on here too, just jump between the two charts?

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thank you will install them ryt away

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Also another tip I use so that I don’t have to keep checking the news all the time which is often delayed anyway and not all in the same place, is to have Bloomberg TV on in the background when you are trading, it has all the breaking and important news that we need, hence you see banks have it on everywhere across their trading floors. I know they also have Bloomberg terminals too but they are very expensive to subscribe to for individuals at $2k+ a month.

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Is it called Thursdays. remember the magic trading days and hours above, Tuesday, Wednesday and first half of Friday? :rofl:

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@AmericanTrader am having the cross pair EURCHF

could you please suggest the Green EMA settings to use as i see there is a correlation between EURJPY AND CHFJPY.

i have maintained the PSAR 0.06/0.1

@inno256

Hi Inno.
I don’t have a long enough testing record for pairs other than Euro/usd. I have the settings I have suggested by watching the charts for a couple of weeks. At this time, there are no set in stone settings for those pairs.

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ok thanks pal

@inno256 anytime, my friend. Sorry I couldn’t be more helpful but I will tell you this. This morning during the London session I was up 40 pips between one entry on Euro / JPY and one entry on chf/jpy. I wish I had closed those at that time instead of trying to let them run.

Life goes on.

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Eur/Jpy and Chf/Jpy providing nice profits this morning.

I entered on Eur/Jpy yesterday and let it run.

Both pairs look to still have some room for profits.

Nearing 100 pips now.

Up another 25 pips since last post.