FREE FOREX STRATEGIES

Scalping system #19 (X-Scalper)


Submitted by Azim.

Just want to share a simple strategy that I use to trade on daily basis. It is similar to AzimXsystem, but the accuracy is far better because this system is designed to scalp the market. Since it is also based on EMA crossing, I named it
X-Scalper
.


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Dear Azim,

In your first example chart in your post, there seems to be 2 long trades which are not highlighted, they are:
1) Between 2011/06/30 1100 and 2011/7/1 0100, and
2) Between 2011/7/1 0100 and 2011/7/1 1200

Is there a reason why they should not be taken? Thanks for sharing!

Worth a look at : http://www.forexfactory.com/showthread.php?t=217293, there's an S/R indicator could be incorporated in the system
Cheers
AT

Programming support and resistance will be a huge challenge because it is so subjective, but I wish you good luck and success with this. Nice system indeed!

Hai Sandro,

It's been a pleasure for me to share. But this few days has been very hectic for me with my work, I don't trade much. I only look at the charts when I'm home. Unfortunately I missed a lot of setups. However I manage to find one or three entries per day.

I also working on to make this system into EA. The most difficult part is for the programmer to prevent "buy at resistance, sell at support'. I hope it can be coded.

Azim

Hy,

Many thanks Azim;your system looks ineteresting,i m following every day your trades.

Thanks for the time you spend with us.

Sandro

I have a great news Regarding the EA, I've met a programmer and he offer me free for his service in implementing the EA.

So far so good, but the EA is far from complete. We try to find the best way to detect Support & Resistance.

I will keep you guys updated

Azim

Here is the Image as requested by the members of the forum.
Don't be surprised If I have more than 3pips of TP, when a strong trend is in place I set it at the next Support/Resistance. Regarding the Limit pending orders, that's how I grab for a quick 3 pips too(unfortunately some pending orders were missed). Basically I set limit orders at Support/Resistance trying to catch the bounce. I will share with you when I have time to post. I've been busy with my work lately.

Azim

Hello myxs600

Are you a programmer?I would love to make this into EA. The last time I emailed some of the programmers, I haven't received his mail yet.

I don't have a lot to say, but for those who love to trade with SL it's up to you to decide, I found a system which suits me the best! You have to find which is work for you. Different trader have different personality. For me I don't mind floating up to -300pips, why?Because my key to this system is to manage lot appropriately, I set my margin to hold up/breathing space for at least -1500pips. Besides It's A VERY RARE OCCASION it happened. It's like once or two in a month. In the end it hit my TP.

I will send an image to Edwards. Once again, If this system does not work for you, don't blame me for not having SL or it's a bad Reward:Ratio. If that's so, why it works for me up till now.

There are a lot of system here with SL, you can pick whichever you like. Sorry for NO SL, I'm just sharing how I trade.

Goodluck and may the pips be with you!

Azim

I did something similar to that on 8 Lots scalp for 2 PIPs without Stop Loss. It was avg 1K per day in 15 days of test, and then one trade took my 28K and I had to kill the trade. Again greed was the factor here and I should have stopped after making 3500$ that day. This works nicely till you get trapped. I loved it till I was making daily money. Dicipline is the key. The quickest way to make money. But dangerous. Again it also looks good on demo and may be different on real account. Again it depends on each person on how much you want to loose in a day. Thanks

"""A system can be treated as effective only when it suggest appropriate exit point otherwise its not a system at all .If the author have no idea about the exit point why did he share it with others , at least he has to request others to set it ."""
my friend, you put the SL, stop asking to Azim for SL, this guy have a nice system, just only need a EA to test it if some one is interested in this system please e-mai me at "myxs600 at hotmail . com "

A system can be treated as effective only when it suggest appropriate exit point otherwise its not a system at all .If the author have no idea about the exit point why did he share it with others , at least he has to request others to set it .

Hi Azim

It's been a few weeks now since you posted the thread. I was wondering what results you have achieved with the strategy. Will you please post your results and perhaps a statement or two.
We(readers)will appreciate it

Take Care

Regards

Shawn

I'm refering to 'Money Management = Managing your lot appropriately'

Yup, you guys don't have to follow EXACTLY how I trade, If you want to set stop loss, no problem.


 

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