The Scalpers Dream | Scalping EA Download - MT4/MT5 Resources
The system is based on this article on Stop Hunting http://www.investopedia.com/articles...topHunting.asp
I call it a scalper's dream because it's a set-and-forget naked trading system, although it's more profitable if you check it every few hours or automate it. It works on any major currency pair. I did a live test on EUR/USD and have made 8 trades so far, 1 loss (should have been -35), 1BE (manual trade into the wrong direction that should have been +15), and 6 trades at +15 pips each, for a total of +55 pips for the day. Here is the link to my FXBOOK account http://www.myfxbook.com/members/Jaws...oZxJG05OdXsgYB My overall trading situation is not great, but look at the trades made from 10/19/2010. My daily balance is over 18%.
Okay, so this is how I set it up. I set up a TP trade at the big number 300 pips above and below the current price, with an entry point 15 pips from the big number. So, if the current price is 1.3850, I would place long orders at 1.3985, 1.4085 and 1.4185 and short orders at 1.3815, 1.3715 and 1.3615. I also determined that a stop loss of around 50 would leave plenty of room for trades and that the win rate would be very high so losses would be rare and not affect the overall profitability of the system. Once set up, all you have to do is check in and fill in the blanks left in your filled order.
I don't currently use MT4, but I would love to provide an EA for this system if anyone would be willing to program it and publish it.
I call it a scalper's dream because it's a set-and-forget naked trading system, although it's more profitable if you check it every few hours or automate it. It works on any major currency pair. I did a live test on EUR/USD and have made 8 trades so far, 1 loss (should have been -35), 1BE (manual trade into the wrong direction that should have been +15), and 6 trades at +15 pips each, for a total of +55 pips for the day. Here is the link to my FXBOOK account http://www.myfxbook.com/members/Jaws...oZxJG05OdXsgYB My overall trading situation is not great, but look at the trades made from 10/19/2010. My daily balance is over 18%.
Okay, so this is how I set it up. I set up a TP trade at the big number 300 pips above and below the current price, with an entry point 15 pips from the big number. So, if the current price is 1.3850, I would place long orders at 1.3985, 1.4085 and 1.4185 and short orders at 1.3815, 1.3715 and 1.3615. I also determined that a stop loss of around 50 would leave plenty of room for trades and that the win rate would be very high so losses would be rare and not affect the overall profitability of the system. Once set up, all you have to do is check in and fill in the blanks left in your filled order.
I don't currently use MT4, but I would love to provide an EA for this system if anyone would be willing to program it and publish it.
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