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Thread: Scalping channel - 1 minute limited martingale

  1. #1
    Let me begin by writing this trading procedure is far from being ideal. That is why I share it to enhance it collectively. Therefore don't use it on real accounts, only on demo (for now).
    It brings nothing new and probably many of the knowledgeable traders are already using it, more or less. I have just found it and, as it is almost working for me, I decided to talk about it. Like I said, hoping we will enhance it collectively.
    OK, let's go into the stage.
    The main thought
    . . .is that nearly all of the times the price will move 100pips or points (they still confuse me) away in the current price in any direction, which 1 out of 3 times you flip the coin, you need to win. Begin with a demo account of 200$ and trade 0.01.
    What you MUST doIdentify the trend on the frames (D1, H4, H1) - very important, we only trade the trend. Do not trade if you are not 99% sure about the trend, simply change the chart. Prepare yourself to close all trades, regardless of if they're winning or losing - also very important. Don't exchange during/close to news time. Initially, trade only on a single chart and don't start multiple trades - it is scalping and it's tough to track multiple charts. In addition, it's all about time. What you needFor the trend to be identified, I'm checking all the timeframes, starting with daily and going down. However, daily and H4 are important and they ought to point to the same direction. On my 4th screenshot you can see the JJN-Infobar indior in the top left - I don't recall where I got it from, search it and use it or even sure about the trend, it's a good indior. For the trades to be closed (all at once, ATTENTION) I'm using an EA called ExitTrades. It exhibits a Close All button in the upper-right corner of the chart - click will close all trades. Stochastic indior (5,3,3) - helpful to spot the right entry. Signal-Channel indior, don't recall where I got it from, but I use it together with the Stochastic to alone or entry to exit trades. I don't focus on the arrows. I'm also using 89 EMA, to validate the trades' entries/exits on M1 and the main trend on the higher timeframes. Price higher from EMA89 to enter a buy and reverse for sell. How to exchange
    You must identify the trend and enter - based on the TREND - when the price hits the upper/lower degree of the Signal-Channel indior; utilize the 89 EMA to confirm and/or the Stochastic.
    Example: trend is down. Open a market when the price hits the higher station limitation, the Stochastic is going/crossing down in the 80 level and also the price bounces down in the 89 MA or it is below this. Opposite for launching a buy. Check the screenshot.

    Now we have two possibilities: either we win, the price hits the TP and the trade is closed, or not. Otherwise, and the price goes the opposite direction, wait till it's going to be some 100pips away in the (already) dropping trade. Then open another trade (double to 0.02), same TP 100 pips off and drag the TP of the first trade (0.01) on the next TP, so they will close together. Again, 2 chances: price goes in the desired direction and strikes TP; now you make 0 $, but at least you don't lose anything. If the price goes from another way, wait till it is again 100 pips away in the next trade and open the 3rd trade, this one 0.04 (double the preceding). Transfer all 3 TP 100 pips away in the next trade. This is going to be the final trade, if you don't would like to risk betting martingale and also you have sufficient cash to wager. Otherwise, stop and be prepared to close all trades in reduction. However, statistically speaking, there are opportunities that this trade triumph. But keep an eye on the Close All button, just in case.
    I will upload some screenshots later, hopefully you will know them - I've only Paint to edit them, without any professional image editing program.
    One more important thing: Please don't stick together with my 100pips trade space - check the Signals-Channel indior. In fact, I believe that we must tweak: the exits (TP) and the trading lots.
    Signals-Channel indior - https://www.forexsoutheast.asia/atta...1994479442.ex4
    Exit Trades expert advisor - https://www.forexsoutheast.asia/atta...5374908657.ex4

    UPDATE: no more two EMAs, only 1 EMA currently (89). Check example here.
    UPDATE: in a nutshell here
    UPDATE: I'm opening a maximum of 5 trades today (if trend goes another way), starting with 0.01 and ending with 0.16 (so the previous trade should be roughly 400 pips away in the first). Also was able to attach my trade explorer, but Pepperstone deletes demo accounts after 1 month so... that will be its era.

  2. #2
    Quote Originally Posted by ;
    quote No problem. And please share any other EA that can do that job if you loe.
    Of course, if I find something interesting to share it here.

  3. #3
    OK, so here are my morning transactions (I just woke up). I have 2 successful transactions (first 2, EurJpy and AudJpy) and the 3rd one that I utilized this martingale and won it from the third bet (trade). Screenshots are only for the transaction that is 3rd.

    Notice how when 1 trade opens, I double the lots the fast trade buttons to be ready for the reverse.


    Since this is the final try (trade), I closed the fast trade button. You might even see that I risked - the trend isn't really robust and on D, H4 and H1 it appears like it is likely to change.
    Again, all 3 transactions will stop at same point, the TP line on the chart; therefore the first one is going to lose a few pips, but the increased bet from the third transaction (0.04) will guarantee the profit. Actually, the first and the second will almost every other (check tje results below).

    And this is the result so far. I'm going to have my breakfast, it's 11 pasted.

  4. #4
    Hello wattaman

    I enjoy the fundamental idea of this egy and it's very similar to a platform that I have developed and used to trade a couple of short years ago.

    Initial points would be the smallest movement a Currency Market pair can take so for EURUSD you have 10 points on a single pip!

    My counsel for you personally and exactly what I did. Was the I took although that I did a few less trades was based around M5/M10 support/resistance levels.

  5. #5
    Quote Originally Posted by ;
    Hello I enjoy the basic idea of the egy and it is very similar to a platform I have developed and utilized to trade a few short years ago. First points is the move a Currency Market pair can take so for EURUSD you have 10 points on one pip! My counsel to you personally and what I did. Was that I did some less transactions but the formerly I took was likewise based about M5/M10 support/resistance levels.
    Thank you for the clarifiion and the information.
    Of course, it will be far better to select the support/resistance lines into account ... or whatever else that could help.
    I, personally, don't prefer to draw them traces my chart is to bloated already, but I do use to check, prior to entering an M1 transaction, nearly all of the other timeframes, especially M15, H4 and D. Except for if I get carried away along with the greed makes me forget things lol

  6. #6
    Query for you Wattaman.

    How are your red and green arrows created? Do they repaint?

    I've watched it for a bit and been able to see that the arrows shape prior to a fractal. Which is good.

  7. #7
    Wattaman,

    Here is what I have managed to put together only from examining your indior.

    Pretty. Still testing, but I thought I'd share with you.

  8. #8
    Quote Originally Posted by ;
    Wattaman, This is what I've managed to put together only from examining your indior. Pretty. Still testing, but I thought I'd share with you. picture
    What rules are you following to take transactions? I ask this because the indior is repainting

  9. #9
    Quote Originally Posted by ;
    Let me begin off by writing this trading method is far from being perfect. That is why I share it to enhance it collectively. So don't use it on actual accounts, only on demonion (for now). It brings nothing new and likely many of the experienced traders are already using it, more or less. I have just discovered it and, since it's almost working for me, I decided to share it here. Like I said, hoping we will enhance it collectively. OK, let's go into the point. The principal thought . . .is that most of the times the price will move 100pips or points (they still confuse...
    You said that follow the fad but this method is taking positions contrary to the trends and then you're attempting to recuperate by adding lots. It does not work and particularly for EU pair; this process isn't recommended from me.

    Yes this method can be profit able if you choose the pair that's mostly ranging.

  10. #10
    It's pretty much exactly the same idea or concept that was originally introduced.

    The only difference is I am looking in a blend of little time frames 1M, 5M, and 15M and trading with the trend against the total trend.

    I am still in the process of chalking up the exact rules, but so far so good.

    I will continue with the updates.

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