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What indicator you use for scalping?

tomalf66
Jul 20 2015 at 06:45
4 posts
Damien1881 posted:
mrtodd posted:
pelister posted:
I can tell you right away this repainting piece of crap won`t get you anywhere you wanna be


agreed


Thanks, these comments as harsh as they may seem, will help newbies avoid buying into a dream, the sort of things I bought into years ago.

To be fair - does say on the site that the indicator can repaint, I don't think many people seeing this perfect looking indicator realize that there is so much more to this system than this single custom indicator.

My personal opinion is that a repainting indicator can give you an earlier entry when trying to buy low and sell high, but there needs to be a lot more information/ tools used giving prior sentiment.

I use candles and a couple of mt4 indicators supplied with the platform, indicators give signals on previous price, doesn't matter if they are custom, repainting or not, trading is something you learn over time and realize that money management and trade management play a more important role in consistent success than the perfect indicator giving the perfect entry.

I use the indi's (3 of them, ema, stoch and cci), to quickly flick through the 28 pairs, this way I save time, I trade for an average of 10 minutes a day, medium term, daily weekly charts.

I can use my system with higher leverage to scalp a couple of pips or as I prefer - let the money work for me and collect hundreds from much less work, pay less in commissions and spreads.

BROKERS LOVE SCALPERS, especially profitable ones.

People have the perception that intra-day scalping is the real money maker, I searched and searched traders on my journey to consistent profits, most, especially Money Managers make it through longer term strategies, although like scalpers many profitable traders I've found do have an inverse reward for risk.

Sorry if my rant annoyed some of you, but I struggled for a long time and wanted to share some of what I've learn't, not put down someone else's efforts without justification.

There's so much for sale without the back up. Want success, find someone with a proven live account to teach you, even if you pay for it, this indicator is only a small part of a system, teach a complete system and not just leave customers no better off.

Thanks for putting up with my dribble,


Damien


Damien when you say you trade medium term can you tell me more specifically what time frame that refers to.....
Thanks
T

Damien1881 (Damien1881)
Jul 20 2015 at 07:27
24 posts
@ tomalf66 , The daily charts, I do look for confirmation on the weekly, and now wait for London for better entries on the 4hr. Multi time frame analysis. I manage positions on the 4hr, locking in profits using structure breaks to trail the high/low swings.

Don't listen to and follow the BS online.
AliKhan1 (AliKhan1)
Aug 06 2015 at 06:36
124 posts
BenNathanFX posted:
No indicators needed, just knowledge....

To make my point....

Can an indicator tell you that the AUD is strong today following the fact that RBA kept rates on hold when the markets expected a cut...?
and that the USD is weak because last weeks poor data and bad NFP figures have now caused the market to expect the FED to keep rates on hold a lot longer than expected, and that therefore the AUDUSD is a great pair to scalp up?

Nope.....

Fundamentals are what drives the market - use those as your indicator and the pips will flow.....

Trading without a basic fundamental outlook is basically gambling on chance - ie hoping that a pattern will win more than it loses, but trading based on fundamentals.... thats investing... you just need a technical way to consistently enter the markets based on the background fundamentals.... this is something EAs and Indicators cant provide.


rightly said..

To achieve 3-5% portfolio growth a month
Craden20
Aug 29 2015 at 09:20
19 posts
The scalper's goal is to make profit which comes from small market movements. Most scalpers take advantage of a moving market prices that never stands still during the market day. The modern day scalper in forex has to meet the challenges of the fast pace of currency movement in the market. Talking about an indicator for scalping, I will prescribe the Moving Average Ribbon Entry Strategy. To use it you have to place a 5-8-13 SMA combination on the 2-minute chart to pick out strong trends which can be bought or sold short on counterswings which also involves getting warning of a possible trend change that is to come, which are inevitable normally in the market.

William82 (William82)
Aug 30 2015 at 06:23
50 posts
I suggest to try RENKO charts.

Let's get down Forex Black Market, expose fake Expert Advisors!
mrtodd
Aug 30 2015 at 06:26
121 posts
William82 posted:
I suggest to try RENKO charts.


Renko charts are a great tool.

You've gotta be in it to win it.
Damien1881 (Damien1881)
Aug 31 2015 at 17:14
24 posts
BenNathanFX posted:
No indicators needed, just knowledge....

To make my point....

Can an indicator tell you that the AUD is strong today following the fact that RBA kept rates on hold when the markets expected a cut...?
and that the USD is weak because last weeks poor data and bad NFP figures have now caused the market to expect the FED to keep rates on hold a lot longer than expected, and that therefore the AUDUSD is a great pair to scalp up?

Nope.....

Fundamentals are what drives the market - use those as your indicator and the pips will flow.....

Trading without a basic fundamental outlook is basically gambling on chance - ie hoping that a pattern will win more than it loses, but trading based on fundamentals.... thats investing... you just need a technical way to consistently enter the markets based on the background fundamentals.... this is something EAs and Indicators cant provide.


Sorry Ben I disagree, for me Fundamental analysis is still very speculative, different traders have different opinions on where they think the market should head on the back of a new release, that might or might not influence the longer term trend or just cause that temporary correction.

There are many ways to trade, I don't use fundamentals and wont be!

Your basically stating that I'm a 'gambler' which isn't the case when I have an edge, have consistent results and am profitable.
I've studied hard, tested for hundreds if not thousands of hours, and open my positions at 10 cents for every thousand dollars in the account.

I look at the charts and use a couple of indis as a quick reference when jumping from one to the next, that way, I can get through all 28 pairs in five minutes, I do this up to three times a day. Most of my decisions are based on the momentum from the size of the recent candles on that chart and surrounding time frames, not candle stick patterns as commonly taught or any particular pattern, just look for clear trend direction and the recent larger candles to be in that direction, I don't try and get the best entry, I am just patient enough to wait for price to put me in profit, and it does more often than not. Personally I believe its more about understanding how to trade through experience, manage positions and money and has little to do with the tools used.

Regards,
Damien

Don't listen to and follow the BS online.
antztrades
Sep 01 2015 at 06:27
1 posts
Price action in the best tool ever for intra day or swing trade.

AliKhan1 (AliKhan1)
Sep 01 2015 at 06:33
124 posts
NYMEX Crude fundamentals were same when it fell to 38 and now its here @ 50..

Noone can catch these moves without Technicals...

To achieve 3-5% portfolio growth a month
AliKhan1 (AliKhan1)
Sep 01 2015 at 06:35
124 posts
Any one have idea about Heiken ashi???

To achieve 3-5% portfolio growth a month
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