Scalping system #4 (5 pips with GBP/USD)

ALEX a Question for you,

Are u still using this strategy ?

What other pairs you tried ?

Thanks in advance

A threshold for MACD histogram would make a lot of sense, although originally it wasn't used.

Best regards,
Edward

Do you use a threshold for MACD histogram, before opening a trade? Example:
GU .0002 , or is simply crossing the zero line sufficient?

Hi Glenn,

that could be actually quite useful.
Thank you for adding it.

Best regards,
Edward

Thank you for this simple system. Do you have a rule about the candle either opening or closing on the "proper" side of the 14 EMA, before taking a trade?

Best regards, Glenn

Hi Justin,

thank you, I share your critique.
I don't scalp and therefore can't comments on it.
Another factor to consider, many traders come to the website to find a strategy, but then few leave a feedback about live trading, a simple explanation:
- we have more readers than contributors,
- everyone tries to modify a strategy to own liking,
- some may not like the strategy at all,
- there are hundreds of websites besides ours, a trader may no longer remember where he picked up the trading idea in the first place etc.

On the other hand, why not try it yourself, waiting for others to give a live report for this strategy unmodified could take years :)

Best regards,
Edward

P.S. Yet, like Justin, I'd love to hear a feedback on this scalping method.

Is anyone actually using this on a Live account on a daily basis over a decent period of time? I have seen questions asked before about whether people are actually using Live accounts and the questions seem to be ignored. Excuse my cynical tone but I'e been involved with fx long enough to know that ofetn with these strategies on websites that they get alot of airtime for 2 months while everyone is demo trading and saying how great it is and then people crash and burn. In my eyes demo trading does not count. sure it might give confidence but its a different ball game when trading live.

If people are could you please indicate your win ratio?

thanks
Justin

We don't have the EA here, but I think by now there were people who coded it. I'm not sure what will be the result for 15min chart, but if to try I'd set a profit target to 10 pips.

Cheers,
Alex

Did anybody programmed an EA based on this stategy and backtested it? what was the result please?

Hi

Has anyone used this system to trade the 15 min chart and if yes how successful has this system been.

Also what is the profit target for the 15 min chart?

Thank you.

Hi Abed,

it is impossible to measure, you can take as many trades as you have patience and time to take. For example, I can't scalp Forex on daily basis 6 hours a day. I may take 10-25 trades a week, or more, but it won't provide stats since I missed a lot of other trades that were there up for grabs.

Cheers,
Alex

Dear Friends,
How many pips do you earn with this strategy?
(per a month)

Cheers
Abed

For MT4 platform you have SAR settings:

SAR step 0.1, SAR maximum 0.11

I haven't seen such green/red SAR for MACD.

Cheers,
Alex

Hi Alex, thank you for sharing this scalping system. I am trying to learn. Just to make sure my setting is right; SAR step set to 0.11, maximum set to 0.1 ? and is there a sar-separate on macd thats changes color such as red for sell, green for buy? thanks in advance.

Hi Mani,

this scalping system was made with a purpose of catching those first 5 pips and retreat to safety. What happens after that is no longer considered safe.

Remember that you'll be risking another trade and paying a spread, the cost of which has to be covered before earning another 5 pips - by this time price would have to move 16-20 pips in one direction for you; considering also that you wasted no time in between two trades.

Cheers,
Alex