My Scalping Trade

result..

 

Hi Hemmy,I am not clear to me.Please Clear me.It has two lines.One is Horizontal and another is vertical.Which Line we can count 1st ? Vertical or Horizontal. Please clearify me.
Sometimes, Horizontal Line has 2/3 pairs are Read and sometimes Vertical lines has 2/3 Pairs are Blue.So which Line 1st Count ?

 

what was your SL and TP

 

how did you use it?? when red line cross yellow then open trade?

 

Either you watch vertical line or horizontal it doesnt matter.
Its easier if you just look HORIZONTAL line. If you see USD all GREEN on all or most pairs, that mean USD is good to BUY. RIGHT?

HORIZONTAL - GREEN -BUY USD

ok! So now we have GBPUSD and USDJPY, what do we do?
At the moment we are just considering USD beeing bullish but on the chart we will have to consider how GBP and JPY are.

So USD is Bullish. in the pair USDJPY we are buying the pair. We buy USD because its bullish, so WE BUY THE PAIR.
And, GBPUSD, what we do? USD is strong... If we buy GBPUSD we are buying GBP, so we are selling USD. But USD is strong so we must do the oposite... SELL GBP and BUY USD ---> SELL GBPUSD

Did you get it?

AAA - Green Horizontal (strong buy AAA) --> BUY AAAXXX; SELL XXXAAA
AAA - Red Horizontal (strong sell AAA) --> SELL AAAXXX; BUY XXXAAA

 

please read all previous post specially Dtrader post.. he explained it very clearly

 

this is not as simple as it looks
have to judge following scanario
1. Currency pair ready to fire
2.already fired
3.Position of currency pair i mean it already touched weekly/monthly/daily support or resistance and try to break it.
if pair already fired and its just ready to rebound and we open a wrong trade it will kill all of our profit.

 

here strategy full explanation

 

Yes you are absolutely right here, because of pull backs,retracements, and reversals.There is need to confirm with other trading tools before entry.

 

This is my review for this thread:
Good strategy

 

Do you use any indicator for entry?

 

Lia, this is very very good observation. I already thought of it as i had a similar strategy using CCI which was giving same entrys as this. Problem was the suport/resistance. Those are very bad entry points as the market bouce back a lot of times. So i started using fxr_sr_zones3.10 indicator to show me exacta SR lines.
I´m at the process of building EA based on this strategy with a limitation of number of trades/hour and an exclusion from S/R Lines.
You spot the problem very well.. i was just a bit ahead

 

True. You need S/R and something to indicate proper price action. I use GMMA to solve this problem.

 

my stoploss / close position

after pair > +/- 0.45% and after ( 1 - 5 minute) bid ratio pair down to +/- 0.39% = close open position

 

@Dtrader,Thanks a lot for Clearify me.Excellent your Idea.Go Ahead.Allah Hafez.

 

hi i just found these two indicator on forexfactory how is it?

 

make simple system bro ...
dont use other indicator

this system is super simple

example :
EUR : Horizontal line GREEN = buy pair EURxxx

when to BUY ?

after bid ratio > +/- 0.45%

 

EUR is red plz check it

 

EUR : Horizontal line RED = SELL pair EURxxx

when to SELL ?

after bid ratio > +/- 0.45%