Scalping system #10 (Capture M30 direction - xx.00 xx.30 strategy)
Submitted by User on February 24, 2009 - 08:44.
Submitted by shakin23 from Poland
We want to predict movement for the new M30 candle. In order to do that we are taking the first M5 candle (xx.00 and xx.30). Then add 2pips offset to low and high: these are our entries for buy and sell. Sl is an opposite trade. Tp is moving sl accordingly to highs and lows on M1 or tick window.
Read entire post >>>
Hi!
Lets say you place two (sell and buy) pendingorders at xx.35.
If the two sell and buy pendingorders are not executed during the 25 minutes before the xx.00 candle appears, should I then delete the pendingorders, or let them run until executed??
And You say buy 2 pips above and sell 2 pips below. I guess you mean 2 pips above the buyprice and 2 pips below the sell price?
Thanx!
The orders are run till executed.
You should take 2pips offset to low and high: which means +2 pips to the Highest high to place a Buy order, and -2 pips from the Lowest Low to place a Sell order.
Thomas
Is it critical that moniter the xx.30 and xx.00 time frames? I've been studying this strategy and don't seem to find it works any/better worse for the above times than it does for any random 5 minute candle. The only problem I have run into is the fact that when I lose by hitting my SL it more than wipes out my successful 5 pip scalps. Anyone else running into these problems? Thanks in advance.
-TR
Once you trade it for a couple of weeks, it becomes evident that a few filters here and there wouldn't hurt. I started with the rules as suggested, but my trading quickly transformed into a new kind of strategy as brought in Moving averages (20 SMA) and Stochastic (5, 3, 3) to catch trends.
hallo forex trader,
I may shop only zb around 8.00 and 8.30?
Or also around 8.15 uhr?
regards steve
how many pips you make with this systenm on 1 week?
regards steve
Post new comment