Usually it goes the other way around. 
You can, I do it right now. Thing is you just have to train yourself to see the master candle forming. When you see a larger than usual candle, expect it to be a MC; wait for the next 4 bars. If one of those next 4 candles breaks the top or bottom of the pre-MC, it invalidates it.
Easiest way to do it.
Thatâs also why I only look for trades within 3 or 4 hours. Imagine watching minute bars form for a full trading session :eek: 4 hours is 240 candles, enough candle watching for me in a day I think 
Soul, I take it then, if you are focusing on the 1m, that you must by necessity eliminate those pairs that have spreads greater than 3 pips?
Definately; thatâs the sole reason I trade just the EU and UJ because they each have a 0.9 pip spread with Oanda.
**EDIT:
In addition Iâll also add that looking at 1MIN charts, things move so fast I canât have more than one trade to manage at once. Makes things easier to scalp just two pairs and the ones with lowest spreads make the most sense. I also take into account the time of day Iâm trading which helps narrow things down.
1 Like
My desktop 26" LCD
does that look about right? 
Bottom Middle Alpari demo with Madscalper, Rui and Master Candle (if there would be one).
I will watch this for a while. 
Except on your naked one I added a BB
If itâs tradeable to you then thereâs no right or wrong
No trades for me today, yesterday and today both are early days at my job, I start again tomorrow 
ninety9, tell me how you do scalping with the combination of systems, interested to see the results.
OK, was trading live with only 1000 units = 10 cents.
I did 7 trades 5 winners, 2 looser, of course I made only $2.85.
I will keep on testing but it looks good, except sometimes I can watch the candles on Oanda and on Alpari demo, they donât match but I donât think it is a big problem.
I only traded EU and had EJ up but it was not as good as EU.
whenever the trend on Alpari demo went from long to short or vice versa I checked for a good entry, meaning also the main trend was either pointing in the same direction or was already in the right direction.
EU had a good overall âshortâ trend today but I also entered when it switched to a âlongâ and thatâs when I had 2 looser. But then I also had on âlongâ 2 winners.
I think the combo could work out.
I Guess you only need to know the direction of the price
What period do you usually use for master candle trades?
Is that read out from your live account or a demo?
ninety9 did better than me. This was the first day I tried it and really got my ass kicked. I just donât know if itâs doable with my broker, or if Iâm just doing it wrong.
PipPunisher,
I have the MC on every chart, no matter what timeframe.
Merch, I taught you are on Oanda. Sorry to hear. In a way it was not a good day really to test since the EU was on a steady overall downtrend anyway, then of course you donât know that in advance either.
All I traded today was on M1.
Gusto, I agree,
""""""âyou only need to know the directionâ"""""""
more power to you.
This is not the case for me.
I always check the trend on higher time frames first, unfortunately as the day goes on the direction and I are parting from each other, despite that I check it periodically.
For some it is easier then for others.
One of the issues I noticed today was the risk-to-reward ratio. For instance, if your spread is 2.7 pips and youâre only going for one or two pips profit, youâll need to risk at least that much (combined) to keep from being instantly stopped out if the order is triggered, but then falls back even a single pip before you get your 3.7 or 4.7 TP number. So even with a 1:1 RR ratio, youâll need a SL of at least 3.7 or 4.7. That means risking (nearly) about four (or five) pips just to make one or two.
Am I missing something or is this correct?
A good system should start on the lowest time-frame possible since every trade starts out on a tick chart. Finding a âgood systemâ on the lowest time-frame is the hard part.
M1 is low but already compressed data. :eek:
This is pretty much correct, even with 0.9 EU UJ on Oanda, I could just watch how my entry was visibly way up (or down) on the M1 chart and of course the trend had to âovercomeâ the spread first.
As for SL, I did not use SL, I was pretty sure of the trend (thanks to the combo chart) and the 2 times I lost I had my finger on the close window already. Actually 1 of my losses could have been avoided because ~10-15 seconds later the price went up and above my entry and then fell back again. I get the âclose tradeâ window right away after entry. I was still right to take the loss at the time. The second âlossâ proved that. âHanging onâ does not help. Overall I was in profit.
Good example here with the MC. I also feel it may very well worth to test the combo chart on a slower trading time âAsiaâ.
For us EST time people.
This is exactly what Iâve been thinking the past two days. The NY/London overlap is SO crazy to try and trade this. I have the MT indicator signal coming up every couple minutes and with multiple pairs, usually.
I thought of just trading master candles that are of a certain minimum size. I also thought that trading during the afternoons and Tokyo would lead to more sedate (and hopefully predictable) movements. It seems that way when Iâm watching it now.
The main problem I have is that if you are going to give it enough room to breathe (and many of these trades need the width of the master candle to breath) then you have to go for more pips TP. Unless you [I]really[/I] want your risk:reward upside downâŚ
Donât give up.
Iâve noted a few saying that the move retraces and exiting with a loss sometimes happens.
Minimizing this is best achieved through gauging the movement, particularily the momentum, in the market. THAT is why I choose to trade in the busiest time, because when things move past that certain level, momentum takes you straight to profit QUICK which is the idea of how I scalp.
I hate waiting around for a few pips. Iâve been getting better at the momentum watching and it definately helps. If you see a range on the 1MIN chart, thatâs just proof there probably lacks momentum in the market and the longer that goes on, the less likely I am to take a scalp trade.
Moves that go straight through a level are the quick profits I look for.
I mainly watch the 1MIN charts for the master candle scalps, however as noted by MerchantPrince I may fiddle with 5MIN charts to see if there are better profits to be had for the same effort.