1 minute Scalping with VIX Indicator plus P
The chart speaks for itself. All you have to do is understand their language.
The VIX indicator looks like RSI, but its signals are smoother (I guess).
bullish pattern
1. Identify peaks below the 30 threshold (i.e. A)
2. Identify troughs that break through (or approach) the -30 to -50 threshold. (This is B)
3. Draw a trend line from A to B and extend the line.
4. Wait for the extension cord to pop up. (This is C)
*If you notice that B's trough and C's trough create a bullish conventional divergence (i.e. a double bottom)*
long entry
When the VIX indicator slopes upward. (For safe entry, cross the zero line from a negative reading to a positive reading)
quit
I use volume analysis to exit trades. Please visit the sonic R/PVSR thread in FX Factory.
bearish pattern
bullish pattern
1. Identify troughs above the -30 threshold
2. Identify peaks that break (or approach) the 30 to 50 threshold.
3. Draw a trend line and extend the line.
4. Wait for the extension cord to pop up.
short term entry
When the VIX indicator slopes downward. (For safe entry, cross the zero line from a positive reading to a negative reading)
Exit ditto
risk management
I use the PVSR position sizing concept in conjunction with the Naningbob sizing concept.
example
If I have $1000 in funds. My allowed position size is 0.01 lots.
If my market goes 200 points against me.
I will add another 0.01 lot.
If my market goes 200 points against me.
I would add 0.02 lots.
If my market goes 200 points against me.
I would add 0.04 lots.
*Only applies to currency pairs earned on swaps*
*Strict scalping rules. I will set my stop loss to 100 pips. *
I'm not a genius. I just reverse engineered a concept I read about.
Sorry, the VIX indicator is not yet available for download.
(I need someone to teach me how to convert from mt4 files to ex4 files)
Once it is converted to ex4 format. Let me share this indicator with you.
Disclaimer: I haven't done live trading yet as I'm in beta/demo trading right now (after 1 1/2 years of research >_<
I hope you can apply my concepts through your own technical reading.
de Rey
The VIX indicator looks like RSI, but its signals are smoother (I guess).
bullish pattern
1. Identify peaks below the 30 threshold (i.e. A)
2. Identify troughs that break through (or approach) the -30 to -50 threshold. (This is B)
3. Draw a trend line from A to B and extend the line.
4. Wait for the extension cord to pop up. (This is C)
*If you notice that B's trough and C's trough create a bullish conventional divergence (i.e. a double bottom)*
long entry
When the VIX indicator slopes upward. (For safe entry, cross the zero line from a negative reading to a positive reading)
quit
I use volume analysis to exit trades. Please visit the sonic R/PVSR thread in FX Factory.
bearish pattern
bullish pattern
1. Identify troughs above the -30 threshold
2. Identify peaks that break (or approach) the 30 to 50 threshold.
3. Draw a trend line and extend the line.
4. Wait for the extension cord to pop up.
short term entry
When the VIX indicator slopes downward. (For safe entry, cross the zero line from a positive reading to a negative reading)
Exit ditto
risk management
I use the PVSR position sizing concept in conjunction with the Naningbob sizing concept.
example
If I have $1000 in funds. My allowed position size is 0.01 lots.
If my market goes 200 points against me.
I will add another 0.01 lot.
If my market goes 200 points against me.
I would add 0.02 lots.
If my market goes 200 points against me.
I would add 0.04 lots.
*Only applies to currency pairs earned on swaps*
*Strict scalping rules. I will set my stop loss to 100 pips. *
I'm not a genius. I just reverse engineered a concept I read about.
Sorry, the VIX indicator is not yet available for download.
(I need someone to teach me how to convert from mt4 files to ex4 files)
Once it is converted to ex4 format. Let me share this indicator with you.
Disclaimer: I haven't done live trading yet as I'm in beta/demo trading right now (after 1 1/2 years of research >_<
I hope you can apply my concepts through your own technical reading.
de Rey
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