Scalping system #3 (2 SARs to go)
Submitted by Edward Revy on April 22, 2007 - 10:08.
Be prepared to watch the price constantly. Monitoring the price is not an easy job.
Trade the most active hours – London and New York.
EUR/USD 5 min
GBP/USD 5 min
(optionally may also trade AUD/USD)
SAR (0.01, 0.1) – on the chart
SMA 8 – on the chart
MACD (5, 8, 9) + SAR (0.01, 0.1) on this MACD
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hi edward,
thank-you for this very interesting and detailed strategy - rather different than the midnight strategy!
although mt4 can do almost anything, i do not know of a way to put the sar on an mt4 macd.
but the macd sar is easy on oanda's platform and their low spreads are best for a scalping strategy.
kind regards, gibson
Thank you for your questions.
We always start with one trial order opened when either SAR dot for the first time changes its position.
Also we will reset the order later (after we hit 5 pips profit) - conditions for that could be various (8 SMA touch or pullback on the same candle), as described in the rules above... I realize that current scalping system is a bit heavy in rules, but once tested and understood, it becomes resonably simple.
When we had a buy signal (means we placed 1 trial order) and the trend ended shortly after. That's going to be our loser. Then we will not enter until both SARs agree on the trend.
The best chance to eliminate most of such situations is to trade only during active London and NY sessions, or even only when they are overlapped.
Happy scalping!
Edward.
Edward
Do we open the trade on the first dot when dots change position or at any time when the conditions are met. But sometimes we might have a buy signal but the trend might be ending. What do we do in such situations?
Done as well. Good trading!
Edward.
Please post some image because one image is better than 100 words.
Sorry, I have no idea how to do that.
... May be it would make sense to ask people on some forums dedicated to MT4 about that.
Edward.
is there a way to place a sar on the macd with mt4?
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