Never Lose Again

[rowdy]

Rowdy,
Were you using the teoman ma cross 5m scalp method on a m1 chart for 96 pips in 50 min. of trading?

[Edit 6-8-09] I added this edit message because I know more now than I did at the time of the post. After creating an EA and backtesting the idea below, I was able to see that the 3 Sema, MA Cross may happen way too early in huge breakouts. I have yet to find a good stoploss solution so trade the method below with extreme caution. The results that I had in the previous post are real but you can still get caught in a huge breakout.

Pro,
Yes and no. The method I use is a little different but basically the same.

Rules-
1.) Wait for the 3 Sema followed by a MA cross to enter.
2.) Once you are in, if the price moves against you say 3 pips reenter another order. If the price moves against you again, reenter again. I know this "seems" to be violating the rule of not adding to a losing position but the price will eventually break. This is the same principal as DTB, but you cant keep reentering on DTB forever or you will eventually get burned. On DTB M15 a huge breakout will drain you, but on M1 it is not nearly as significant. When it does break you will notice that your breakeven point DOESNT EVEN HAVE TO REACH THE PRICE OF THE ORIGINAL ORDER.
3.) Exit when the 3 Sema forms against your position. Dont wait for the new MA Cross.
4.) SL is 50 pips but I really dont use it. Yes I know this is crazy but reentering too
many times before it breaks and the price not moving back enough to cover all of my entries
is essentially my stop loss. This wont happen very often, and even when it does we are
talking about M1 candles, not M15 candles like DTB. The Sema 3 MA cross entry will get you
close to the break point a majority of the time. I actually like it when it moves against me
because then I get a chance to reenter. Then I make more money when it breaks. This is what
happened with the UJ trade in the .doc file I posted.
5.) TP is 50 pips but again I dont use it nor do I expect it to get hit.
6.) Only use this method on EU or a symbol(s) with a very low spread.
7.) Early morning US cental time is a good time for this, but it works just about any time.
8.) Dont blink.(Keep a bottle of Visene handy)
9.) Dont even think about getting up to pee. LOL.
10.) This moves very fast, you will need to pay very close attention. I take orders going
both directions. I take the up and the down moves on 3 symbols. Its like riding a wild
roller coaster.

Try this on a Demo account with just one symbol first. It takes practice but it is wildly fun.
This kind of trading matches my personality, I am not waiting and waiting and waiting. I am
totally focused and engaged like a video game.

Also, to do this you NEED TO USE MT4 SCRIPTS!!! There is no way you can type in orders doing this.
You need a short and a long limit order script so that you can drag and drop your limit orders in.

Another hint is to go ahead and enter say 3 limit orders above or below your first entry with a 3 pip spacing
and then delete the ones not touched at the conclusion of the move when you close all of your market
orders.

Another hint, I dont wait for the H1 or D1 or any other candles to be moving in my direction. You
can play with this and see if it helps, but you have to make some quick decisions. My goal is to scalp
some pips going up and going down again and again. I am not trying to catch any long moves here.

I hope this helps. If anyone has any ideas to improve this method please post. This method isnt perfect
nor am I. Good Luck.

[prochargedmopar]

Thanks,
Sounds like fun.

Do you still use the same 12/12 cross?
With the M1 chart are you still waiting for the H1/ M1 arrow to match up for the cross or do you drop down and just have something like the m15 as the master trend to go along with the m1 cross?
Thanks.

[rowdy]

Thanks,
Sounds like fun.

Do you still use the same 12/12 cross?
With the M1 chart are you still waiting for the H1/ M1 arrow to match up for the cross or do you drop down and just have something like the m15 as the master trend to go along with the m1 cross?
Thanks.

Yes on the 12/12. I currently do not wait for any arrow match up for a cross. I stay on the M1 chart the whole time. You will notice that even in the largest breakouts on H1, M15, etc. that retracements occur. Those "bottoming out" of the retracements are the 3 Semas on the M1 chart. You are not going to get caught in a 500 pip breakout against you on a M1 chart. You can verify this for yourself. Look at EU on M1. What is the largest range in pips between 3 Sema to 3 Sema. Try making the assumption that the 3 Sema forms 50% of that range and repaints from there. Now you have an absolute worst case scenario. It isnt that much when you consider how many wins you will have.

One thing that I did not mention in my previous post. It very important
to thank two people. First thank teoman. I would never have dreamed of
using an MA cross/Sema 3 combination to find reversals. The Sema 3 tells
you are in a breakout but a reverse in on the horizon. The MA cross forces
you to be patient to "confirm" that the reversal is actually happening.
Secondly thank TRO. The idea of reentering when price moves against you
comes from the rules he posted for DTB. This is one of those good trader
"secrets" that you wont find in any trading book.

[TheRumpledOne]

When the MA's cross, that usually means the trend has reversed. You won't be entering at the bottom. Instead, you will be entering with the trend.

You can plot fib retracements to make sure you are not too late to the party and for TP targets.

[teoman]

Sideway markets are not good for trend fallowers like MA,

May be for optimization of fake signals of MA,

Could it be a good idea to use MA Angles..

Ma angles can show sideways,

I need your opinions...


Attached, MA angles,


Very interesting I could not find MA Angles in TRO's collection...(free or donational)

[ilovetro]

Hi teoman, prochargedmopar and rowdy,

do you use TRO_Dynamic_Fibs_SR with teoman's method? If so, what period are you using?

Thanks.

[teoman]

5m scalp method on a m1 chart

why I choose 12 for ema/sma because, I use H1 bias,

H1 ,there is 12, 5 min bars.

If you use 1 min to trade with M15 bias , I suggest you use EMA(15)/SMA(15)

or with H1 bias EMA(60)/SMA(60)

Regards...

[teoman]

very interesting as we are waiting semafor 3 and cross ma, when using,with M1 chart ema(60),sma(60) , I saw that you can eliminate some ma fake signals,because off ocurring 3 semafors at wrong side..

or just on the contrary, when ma cross occurs wait semafor for confirmation...


Let me test with metastock.. himmm

[teoman]

Metastock, Creating a New System for Dummies


http://rapidshare.com/files/241566025/M ... m.pdf.html

[teoman]

[quote="TheRumpledOne]You can plot fib retracements to make sure you are not too late to the party and for TP targets.[/quote]


I tries all fibs could not find that one , indicator name please?