Scalping strategy to finish the year strong

I appreciate your sharing all your “secrets” here. :grinning: From the beginning, I noticed the time axis of your charts didn’t look like Eastern time zone. Is there a reason why you want to keep different time zone on your chart than where you live? I believe you said you live somewhere in Michigan or at least in EST. Just curious.

@froghunter

Good morning.

I asked IG if I could change the time zone on my MT4 charts and was told I could not.

I am in the Eastern US time zone.

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I took a second entry off the green 25 EMA bounce off of the orange 150. Worked out nicely. The bounces are one of the best signals

I hope many people took advantage of the easy money on Eur / Usd on the one minute chart.

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@AmericanTrader hello again. I’ve just gotten a little break from exams only to find a different strategy from the first one with 4 ema’s. Is this one with the 25 and 150 ema a mod on the previous one or entirely different. If different, can you please roughly estimate what the win rate is compared to the other one. :pray: Also I wanted to lookup that king strategy but I’m pretty sure I have the wrong results. What’s the full name of the strategy or if you could , share a link to a YouTube video or blog/forum

hello, good morning, I’m reading your strategy now.
if you like I could try the coding of this system, the possibility could also be a mixed use, automatic and manual.
for an adequate coding, however, a very detailed explanation of the inputs is needed (for now) as I can’t understand the signals of the various indicators, white ema for example.( When White crosses both greens = ENTER, wich direction?) if you like it even with a private exchange by mail, tell me in detail the rules for entries so as to create a code that will obviously be shared if you want. Good day

@Art_prentice

High art

The strategy with the 25 and 150 EMA is completely different. It requires a bigger stop loss and the potential for larger losses. I would consider it at least an intermediate level Trading style. I have no data on the win rate for it is. It is the strategy that I prefer using.

For traders who want to limit or eliminate losses, I suggest using the channel strategy with the 32 EMAs and the 14 and the six.

For the King-. Do a YouTube search with " king of forex " to find his channel. His strategy is for all levels of trading experience. He does not use a stop loss, although you certainly could if you wish. The win rate on this strategy, once mastered, is about as close to 100% as you can get.

@pbennati
Thank you.

We do have an indicator made for trading view, but not one for mt4.

The exit signal for the white EMA is subjective. Also, there was an addition to filter signals based on volume.

I do think that because the strategy is based on 5 minutes and 1 minute charts, it should be considered active Trading where you would visually be monitoring the trade fairly often to decide both on your exit and moving your stop loss to an in profit position at the earliest opportunity.

So I would have concerns about trying to automate it in any way. But that is just my opinion. I hope everyone will use the strategy in a way that fits them best.

If you decide to make an indicator or an ea, I know I would definitely want to take a look at it and give it a few test rides.

Also, for the entry signal of the white crossing both 32 EMAs - the entry signal would be in the direction that it crosses the second one. So if the white EMA is crossing in an upward direction it’s a buy.

Edit:. All of the strategies I use require higher volume times. So London and New York sessions primarily.

@AmericanTrader
Hi again. Just went through the king of forex channel and all I see is him trading the strategy but no explanation. Or did I miss something. Could you briefly explain what the strategy is like so I know if I’m looking at the right thing

@Art_prentice

1 minute chart (you can use 5 minute until you are comfortable with 1M).
Apply 9, 20, 50, and 200 emas.

Ideally, you are looking for a time when the emas are spread out. The idea is that price will return to the moving average.

Example of the perfect entry time for a sell order is when the 9 ema is above the 20 and the 20 is between the 9 and 50 and the 50 is between the 20 and 200. When price makes a big upward candle above the 9 ema, you enter the first sell order. If price continues to go up, you keep entering additional sell orders. Price should return to the 9 ema at some point and you close all trades. If your trade is still losing money at the 9ema, you can wait until price returns to the 20 or 50 ema.

It takes practice.

Many of the videos on his channel explain the strategy. Here is one:

I’ve watched him trade live many times. Now you have to join as a member to trade live with him. It may be well worth whatever the price for that is if you don’t feel comfortable doing it after watching several of his archived videos on YouTube.

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@AmericanTrader
Thankyou for the quick reply. It was the right YouTube channel. Tho I couldn’t find any video where he explained the strategy or the ema settings, just trades . Or do I need to join as a member to get the settings too. I wanted to backtest the strategy and your channel strategy and based on how I trade (A wise man once posted traders are artists ; ) ) see which would work best for me. Pls share the ema settings unless it’s paid for and legally unethical to do so. Then I totally understand

@Art_prentice
Hi Art.

The settings for King of Forex charts are simply the 9, 20, 50, and 200 emas set to “close”.
If you don’t feel comfortable with understanding the strategy after watching his videos, his website has a store where you can buy the strategy details.

My position is that I consider the YouTube videos public domain, so we should be able to use what information we can derive from them. He does explain the strategy sufficiently in those videos for me to understand it. Any additional information would have to come from purchasing his materials.

Having said that, I think you will find, by practicing in demo, that it is not so complicated.

Here is the link to the Forex Factory forum where another trader has posted the rules. *I don’t know this trader and I do not participate in his forum.

I hope this helps.

@AmericanTrader
This is more than enough. I’ll take my time to compare these strategies and get back with the result and what I believe might be more beginner friendly. And that’ll be what I’ll start my live account with. Wish me luck :crossed_fingers:

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You’ll do great, Art

If only I could’ve started my trading career when I was young. It’s a gift that you can start learning now

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@AmericanTrader
As always, you’re an inspiration. Thankyou

Hlo everyone. So I just started demo trading and realised I suck at position sizing and calculating how much each pip should be worth. And I don’t want to rely on calculators. So, let’s say I have a $10 account on a micro lot(0.01) and a 1:2 leverage willing to risk $1 per trade to make twice that. How do I go about it please. Sorry if it’s a stupid question

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Btw was the channel strategy really meant to end that year only cuz I’ve been back testing and it’s not looking good. That or Im not applying it properly. Tho I use a predetermined tp and sl. How exactly did you run yours

@Art_prentice
Art, I’m afraid back testing is useless for interactive trading.

For the channel Trading or the king of forex Trading or my PSAR crossover strategy, you have to make decisions during the course of the trade. For the channel, you have to decide when you want to move your stop loss into a break even or in profit position. You have to decide how big your initial stop loss is going to be. You have to decide when to take profit when it’s not going to hit your profit target.

The strategy that does allow for a set stop loss and a set take profit would be the octopus squeeze.

There are other strategies that have not been mentioned on this thread that use a set stop loss and take profit. There is even one strategy that almost never loses but you have to watch the screen for hours to find when the setup occurs.

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I’ve been live testing the 32 EMA channel, and I’ve determined it’s not for me. Because of the discretionary elements to it, I think the problem is probably my personality and skill level. I tested the King of Forex strategy, which I think is basically a mean reversion martingale system. I made a profit, but it required a lot of decision-making and screen time, which used consumed my mental capital. My main concern is getting caught in a big trend. I’ve watched his videos on risk management, but I still fear getting wiped out if you’ve used up most of your margin and it keeps moving against you. What are your thoughts on this, AT?

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