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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Azim said :Not to forget ,Money management is important too. What is money management ? To open a trade for one or two weeks for 2 or 3 pips ?

John

Please consider the importance of money management while trading the market, try to demo this strategy by setting stop loss according to your risk bearing capacity.I have tested many strategies by setting risk reward ratio at 1:1000( here we can say 2000 pips for 2 pips ) and all these strategies showed result like those showed by azim , I mean you can apply your own comfortable strategy for generating result as shown by azim but dont forget to avoid stop loss , in this way your are not doing speculation but gambling .The author agreed that he opened a position for 2 weeks for earning 2 or 3 pips!!! Are you ready to do this when you trade with real money , if so carry on , happy trading .

Hi Azim
yes please share EA code for this system if available :D
cheers
Ata

Hai Artsedge,

I did email the software programmer, but he did not reply my email. I'm still waiting for his reply

Azim

Hi Azim,
If you are given a EA code for this system could you share it with us here as there is a lot of interest and many people could test it then.

Artsedge.

Hello Hessan,

My exit signals is to take profit at 3 pips, that's how I do it. Anyway I love your idea in adding the two levels of RSI, 40 and 60. Well done!

Azim

Hey Azim!

I love your strategy, it works most of the times and I'm definitely going live with it. I've noticed that you didnt mentioned any exit signals. Well what I do is that on my RSI chart, I include 2 more levels, 40 level and 60 level. When Im going long, I do not exit until the RSI passes the 60 level and when Im going short I exit when RSI passes the 40 level. It works 80% of the times so I guess its reliable enough.

Regards,
Hessan

thank you for sharing, your idea is great. how could i get it in its completeness, want to trade it, and my copier is broke? please send all info for me to trade, to my email please, at [email protected] , also could it be traded on each par, meaning, gbp/us , and the eur/us at the same time!!!thank you for your help, new to this.looking to replace my job!!! and join the ranks of the successfull selfemployed.!!!

Note: On my demo a/c that I've posted. I use 5.00 with $10,000. Don't follow that yeah, I was just testing the accuracy.

Azim

Hi Shawn,

The longest trade I've kept approximately around 2 weeks. I was -300pips($30) and then slowly it reached my TP. This is a rare occasion though. It happened when I was trading during inactive market. I have a friend, he is a full-time trader for more than 10 years experience of trading, He said " When supply exceeds demand, what happen?Price drop!when demand exceed supply?Price will go up". That's when I decided not to use SL and my a/c started to fill with green pips. Don't worry the price will come back. Just keep your a/c at least -1000pips for breathing space.

My recommendation (roughly)

$500 - 0.01/0.02
$1000 - 0.01/0.05
$5000 - 0.05/0.10
$10,000 - 0.10/0.50

Normally,I will not open more than one trade at a time with different pairs. Unless if I have one trade floating and there is a strong signal for entry. I will make an entry to add up my margin. Otherwise I will just let the trade floats if there is no clear signal.

By the way, I took the actual trades for the past 5months.

Regards,
Azim

Yes we enter at the open of the new candle after the cross confirmed.

Hi Azim

Thanks for sharing this strategy with others, also for replying so quickly to people's threads. I saw on one of your statements that you kept a trade for a few days. What's the longest that you have kept a trade? Your support and resistance, do you draw it manually or do you use a indicator or pivot levels or any thing similar. What's the biggest draw down that you have had (pips wise) against you in the months that you tested the system up until now? Will you open more than one trade at a time with different currency pairs? I also prefer not using a stop loss cause many times I have found if you don't use one, price will eventually reach your profit target.(only problem is you can have very big draw downs until that happens) What lot size do you recommend for the following accounts $500 $1000 $5000 $10000. I saw your trade sizes was 0.01 for $150 account is that right?
All your statements just show winners have you ever had a loser (except for the one the broker screwed up) When you tested the system for more than 5 months did you back test it or did you take actual trades for 5 months?

Regards

Shawn

I notice the rsi kind of change at the point of the cross, it could change from above 50 to below 50.

So do we entry only after the candle close after the cross and judging base on the rsi on the candle after the close?

Hai Shawn

Exactly! that's what I mean, I'm sorry for my bad english in my previous comment regarding the 1000pips.

Anyway, I just don't trade with stop losses, but for those who prefer to use SL, just place it at the previous recent high(sell) or previous recent low(Buy) for your safety belt, but I bet most likely it will not hit the SL as long as we trade during active hours and AVOID "sell at support,buy at resistance"

Azim

Coding?I'm not so sure EA can draw support & resistance like our naked eye. But yeah sure give it a try, I will drop you an email

Azim


 

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