LOHAD Scalping system looking for V2.0 (LOHAD Scalping system looking for V2.0)

Lockhard sells "base"

Finally I was able to complete the latest version of this system that I have been using so far (16 Mar 09)

Attached is a zip folder containing the templates and indicators I'm using. Also, I have attached a document explaining how I trade this system with screenshots and description. Please take a look and feel free to adjust the system to suit your preferences.

Lohad Scalping Chat Room: http://www.chatzy.com/644381729943. You need to register, but it's free. This room is called Lohad Scalping

Wish you all good luck with your trading!

Thanks for all your input!

Rockhard

Hey traders,

I'm posting the "core" of the system I've been using for the past few weeks. My trading partners and myself do use other indicators, but I have deliberately given up on them (for now). The set of indicators I posted is the core set that we use to primarily indicate whether we are placing a trade or not. I will post additional metrics here if needed.

The reason I left these other indi out is because we wanted to throw it out there and put it up to the challenge of other traders and see if we could implement any improvements or different ideas to make it a better system.

Although this has been a profitable system for me (606,282 and 359 weekly pips). I believe things can always be improved.

Now I'm using it on the 1M chart. My partners work on 5M and above charts. This is a scalping system. I know people are going to come here and tell me I'm crazy, and frankly I see and understand their point of view, but as far as my mindset goes, this TF is the best for me.

I haven't tried this on anything over 15M, but it looks like it might work well on longer TFs. I only trade the EURUSD currency pair. My partners trade in GPBUSD, EURUSD and USDCHF.

I didn't set a stop loss amount. Basically I use PA to decide if I should leave. I have the trade set up to get 5-10 points of TP, and I'm looking to improve so as not to leave too much of a void. My partner doesn't use TP. He accepts what is traded to him.

I admit, a better exit is one of the things I'm looking for.

chart:
I'm using the following indi in my setup:

Bollinger Bands - Default setting
PSAR - Default Settings Hull - (Published) Default Settings
BB Macd - (released) 12,26,9,1.0

entry:
I have attached a picture with a sequential setup description of how I make my trading decisions. This picture will show the ideal setup. I'll take some other setups that won't immediately satisfy these steps, but I'll only do that once I get a feel for the market.

Basically, I look for PSAR points to occur outside of the BB, I wait for price to cross the HULL and "Kingpin", and I wait for the BB Macd points to occur outside of that line.

Please feel free to take a look at this. Kick it. Any advice is greatly appreciated.

Thanks,

Rockhard