But I am affraid that it will look like a scalping in this case. Anyway - it is good to try :
Attachment 3429
Attachment 3430
Printable View
But I am affraid that it will look like a scalping in this case. Anyway - it is good to try :
Attachment 3429
Attachment 3430
Well ... I am trying scalping on IBFX broker M1 timeframe using this system. But I added moving average indicator with period 55, MA mode simple, apply to close (moving average is standard indicator in Metatrader 4), and MaksiGen_Range_Move mtf 2 indicator by default settings (indicator is attached).
I think - the rules will be slightly changed for scalping.
Attachment 3441
This is the statement for today :
IBFX broker (leverage 1:50)
EURUSD M1
USDJPY M1
Initial deposit 1,000
Metatrader statement (attached in zip file) :
Attachment 3453
Visual statement for USDJPY :
Attachment 3448
This is how it was installed (the charts):
Attachment 3449
Visual statement for all the pairs (for EURUSD and USDJPY) :
Attachment 3450
Visual statement for EURUSD :
Attachment 3451
Hi newdigital,
Do you have any suggestions how to regularly catch big moves like this 410+ pips? I am always looking for tips how to avoid choppy periods where a lot of losses can happen.
In order to catch a big price swing like you did, do you have to take EVERY trade where all the indicators line up and just hope you eventually catch a big one?
Thank you.
To catch big movement - my suggestion is the following :
- use more higher timeframe than M1 (in my case - I used M15)
- all indicators in main window should agree with each other
- stochastic indicator on separate window should work on the same way as RSI on breakout/breakdown (in some cases of the big movement): overbought condition for buy trade confirmation, and oversold is for sell.
But the price can be moved on very different way ... basicly more higher timeframe = more big movement to be caught
Attachment 3483
Attachment 3484
Because big movement is breakout (or breakdown). I mean - it is when the price is breaking support/resistance lines. How do not know if the price is going to make this breakout? We can look at MaksiGen_Range_Move mtf 2 (uploaded on post #12 of this thread) because this indicator is drawing those lines on the chart, and if s/r lines are coming in very close way to each other (and to the price) so it means that we will have breakout very soon.
This is just theoretical explanation :) but everything is not so easy in practics ... especially if the leverage is 1:50 for example (in this kind of leverage - we should be responsible for everything ... i mean - we should think carefully if open trades for example)
Thanks for your reply.
What kind of trailing stop would you recommend? On your big 410+ pip trade it seems like you were waiting to exit when the big psar showed a reversal.
But if you did that for every trade it would accumulate many losses when there are
small price swings. And you need a TS to protect any profits while you sleep or in case of a spike or sudden price turn against your position.
Yes, you are right. We can use ts on breakeven way placed to be near support/resistance lines. Those lines are moved (it is the lines of MaksiGen_Range_Move mtf 2 indicator) and we can move sl (by ts)according to them. It is whay I am doing for many manual systems.
As to final exit (with loss or with profit) so we may consider as the following
- price crossing 55 SMA
- "big parabolic" changed the direction
Updated statement for today :
IBFX broker (leverage 1:50)
EURUSD M1
USDJPY M1
Initial deposit 1,000
Attachment 3599
There are two open trades which were not closed yet (sl was moved to breakeven) :
Attachment 3600
Updated statement for today :
IBFX broker (leverage 1:50)
EURUSD M1
USDJPY M1
Initial deposit 1,000
Deposit for now (all open trades closed) 1,339 (just for 7 days)
All open trades were closed so please find updated statement attached.
Visual statement for all the pairs (EURUSD, USDCHF and USDJPY)
Attachment 3603
The statement using TradeHistory_V3 EA
Attachment 3604
Visual statement for EURUSD
Attachment 3601
Visual statement for USDCHF
Attachment 3602