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Scalping system #20 (Florin's scalping system)

submitted by Florin

My name is Florin and I want to share my scalping system

Pair: Eur/Usd
Time: 5min

Indicators
MACD: 12,26,1 ( 1 means nothing )
Stochastic: 5,3,3
EMA: 5 to the close
EMA: 5 to the open

*no trades during news times
*Risk is set to 1%
*Take profit is random based on market conditions but I'll usually cash out based on reversal patterns or a cross of the two ema's
*Trade signals are only confirmed on closed candles/bars.

Buy Signal

a) When the stochastic crosses up from the 20 line and is not ovebought;

b) The MACD closses higher than the previous time interval;

c) The Signal candle/bar closes higher bullish;

d) The 5 ema to the close has crossed the 5 ema to the open;

Stop Loss is the low of the previous candle or 20 pips but 20 pip min.

Close when the 5 ema to the close has crossed the 5 ema to the open

Sell Signal

a) When the stochastic crosses down from the 80 line and is not oversold;

b) The MACD closses lower than the previous time interval;

c) The Signal candle/bar closes lower bearish;

d) The 5 ema to the close has crossed the 5 ema to the open;

Stop Loss is the high of the previous candle or 20 pips but 20 pip min.

Close is based on price action.

cool scalping system but i will appreciate it when people reference the real, or founder
of a trading system. In that way the person will feel honored and will like to do more as a matter of fact the name of this system is called THE FORCE by FOREXJEDI. as a matter of fact there is even an update on it now called THE FORCE ADVANCED here is how it goes:
forexjedi

The Force Advanced
For the poeple who have been trading my system since its first post and have a good grip on the basics can now kick it up a notch. Whats changed from the basic rules is that we will no longer wait for the stochs to come out of the oversold overbought area. Instead where going to add in daily, weekly and monthly pivots combined with trend lines. How does this effect the strategy. It give the oppritunity to now trade failures or bounces of minor and major support and resistance. How does this work? When the price approaches a major or minor support or resistance we wait for the price to fail to clear it. Then we wait for a stoch cross, macd and MA signal to occure in the direction of the bounce. Again exit is based on reversal patterns and price action. A quick tip about support and resistance and pivots. The large the time frame of these items means the more powerfull support and resistance. Always wait for the bounce to occure and a confirmation of the indicators and a closed bar with the confirmation before you enter the trade. Lot size will be dertemined by account size at 1%. To calculate take your account size calculate the 1%. Take the sum and devide it by the number of pips from the low/high to close from the signal bar and now you have the proper lot size for your trade. Even if your in demo status you should practice this for proper MM. Everyone should take a good 15min before they start trading to draw they trend lines. First take you 5min chart and zoom as far out as you can and make the connections. Then zoom in one level and do the same. Keep zooming in till you get them all bearish and bullish. Then once your done make sure you know where all you pivots are for the daily weekly and monthly. After thats done, double check everything. Then once thats done check it again. Then sit and wait for a trade. Watch everything the price is doing and get to know how the pair moves. Everytime the price moves theres a reason behind the movement, be it technical or fundamental. With all these SR lines and pivots what you have is information telling you whats happened and whats likely to happen. You also now have the advantage of looking at what the pros are prob looking at. The pros handle the big bucks. The big bucks make the big moves. Included by attachment is a pivot indicator. Set daily, weekly and monthly to true.
You can check it out on http://www.forexfactory.com/showthread.php?p=2332175

Careful

Thank you, sadly I didn't know that...

I totally agree that the founder of the trading system (FOREXJEDI) should have all credits.

I've just found the PDF for the system.
Attaching it here: The-Force-5-min-System-1.pdf

Hope traders find it useful.

Best regards,
Edward

hi i don't found in forexfactory.com the system and i don't know who is the founder of this strategy i want to put here the strategy because the site of Ed is very good and a lot of people enter here so they can see the strategy here and they can make more pips and I agree with you forexjedi should have all credits

Hi,
does anyone have any experience with this strategy?
would it be possible to use this on other currency pairs?
how about using this on 1M chart?
could someone create an EA for this strategy?

Thanks,
Ben

i think this system has a lot of problems . because u r relying only on technicals , so i try it out for few days but sorry to tell you that it is not worthy @ all

The original Force uses SMA not EMA , any reason why you changed it ?

@User from Post 10:07

Of course technical trading work may work , that doesnt mean that everything is always automatble (but there are profitabel robots also) but even traders who are using fundamnetals to trade alsways look at the charts from time to time

i found the sistem with ema not with sma so i didn't change anything good luck to many pips to all

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