Discuss 1MinuteDaily.com

[M.O.B.]

Scalp Template

Ok, try this one. I had to unzip it.

Steps

1. Save it to your desktop
2. Go to C Drive
3. Program Files Folder
4. Then open Metatrader4 Folder
5. Then open Templates Folder
6. Drag Scalp template from desktop to Template folder

Done.

Afterwards

Open MT4 and load the Scalp Template on any currency pair and use a 1M or 5M chart, which ever floats your boat.

This strategy works on all currency pairs by the way. It's just that EUR/USD have the lowest of spreads which is why we typically scalp it

10 PIP STOP LOSS ON 1M! I have to beat that into my head as well

 

[M.O.B.]

Daily Scalping Expectations

With this scalping strategy, I am now aiming for 5% a day and that is very easy to get with this scalping strategy. I use 1% per trade and I scalp until that dollar amount is met, I usually meet it by noon.

5% per day and double your money every month sounds very good right?
Getting 5%/day can turn $200 into roughly $800,000 in 12 months if my math has served me correctly. Not bad eh...

 

[Dubai]

Hi Mob,

What hrs are you trading this? Are you US based?

I did 1 mini lot trades for 0.5% risk to get a feel for it, had 5 wins and 1 loss. The loss was at 7.45 AM BST when GU just caved in and then I stayed well away as a strong trend formed.

Got caught out by USDJPY earlier also but still fairly happy. I think the best time is around 5am BST-7AM BST.

 

[roberto barletta]

hey mob

in a previous post you wrote.."Well, on the EUR/USD 1M, I wait for prices to get between the yellow and blue line and if the RSI is 80 and above or 20 and Below, I enter and within minutes sometimes seconds, money in the bank. Simple as that "

in the post above were you attach a snap shot of the graph and your trades i noticed that only once did your rsi meet these conditions. Have you got a defnite set of rules or are you still coming up with a strategy..

do you use gut feel also or do you stick with written in stone rules..

Thanks for your posts..

roby

 

[marquesmaiden]

Hello people i'm back,
after 2 months (almost) without trading with 1 minute, i decided to re-start next week with this system.
Count me in to discuss the results of the next week.
I would like to thank Paul41 for his contribution to this thread by sharing those wonderful PDF's.

See you next week.
Cheers

 

[M.O.B.]

Scalp Strategy

hey mob

in a previous post you wrote.."Well, on the EUR/USD 1M, I wait for prices to get between the yellow and blue line and if the RSI is 80 and above or 20 and Below, I enter and within minutes sometimes seconds, money in the bank. Simple as that "

in the post above were you attach a snap shot of the graph and your trades i noticed that only once did your rsi meet these conditions. Have you got a defnite set of rules or are you still coming up with a strategy..

do you use gut feel also or do you stick with written in stone rules..

Thanks for your posts..

roby

Hey Rob, glad you asked that... Depends on the hours... if it's London Session, then the 80/20 rule is set in stone because those are extreme conditions and they come a few times on the 5M. The 5M chart has produced the best results and is amazing!!! My patients sometimes get the best of me and I'll go with the 1M but I've come to grips with the 5M, I'm just gonna go for more pips, I'd say 15-20 because from what I've noticed 5M will get you at least that and more!!

Later in the Day when I shouldn't be trading anyway, I'll go ahead and enter on 75/25 but the Stochastics have to look good for the most part, they have to be forming a curve near extreme levels.

This strategy is fn awesome! Lots of pips this morning Traders!!!!

 

[M.O.B.]

Response to Dubai

Hi Mob,

What hrs are you trading this? Are you US based?

I did 1 mini lot trades for 0.5% risk to get a feel for it, had 5 wins and 1 loss. The loss was at 7.45 AM BST when GU just caved in and then I stayed well away as a strong trend formed.

Got caught out by USDJPY earlier also but still fairly happy. I think the best time is around 5am BST-7AM BST.

Awesome Dubai! I have noticed that the best time to trade this strategy is during the London Session throughout the over lap of US hours, so 3am-12pm. Although you can trade this strategy all day long, but what good does it make if the ranges are extremely tight in the evening when you can only squeeze out about 2 pips.

I also have come to grips that the 5M charts are the Best to use, you just don't get as many set ups as the 1M, however, you can get more pips with it which in the end will produce about the same amount of pips as 1M would or more but with less setups. As the creator of this strategy stated, you do have to have patients with this strategy to allow the perfect set up to take place.

Trust me, I am one of the most impatient traders around which is why I love to scalp, however, it has, a lot of times, made me take profits too soon. I'm still working on the patience. I'll get their soon.

Me and another trader from Chicago whom I chat with on Blackberry IM every morning lol have both decided that from here on out that we're going to stick with the 5Ms because they produce the best results by a long shot, just have to wait for the set ups. I'll wait as long as I know that I am going to be making nice dough ya know.

I've noticed that on the 1M prices tend to hit the blue line but continue moving and the reason why is because they are headed towards the blue line on the 5M which may be another 20 pips, so that's why I'll just stick with 5Ms and go for more pips. I use a stop of 20 on 5ms and have only been stopped once and it was because of the DAMN NEWS!!! I didn't realize how the US Housing Index or whatever it was that came out Thursday morning, had such an effect on the market.

So remember do not trade this or any mechanical system during the news. Be very cognizant of Major news breaks, other than that this strategy is producing nice gains man. I'm taking at least 5% a day wanting to take 10%, if I'm at 5% already during the London session then I'm going for 10% on the day. We should at least double our money every month with this strategy.

So in response to your question Dubai, the London Session is where you can reach your daily goals quickly

I'm going to post a 5 M of the set up so that you guys can see how sweet it looks. Oh and remember we can look to take profits at the middle white line which is the 50MA. On a 5M that's typically around 20 pips

I'm gonna start using this strategy on more currency pairs because they all fall in line with this strategy, I've noticed that I missed out on a lot of money not paying attention to the others because there may be a set up on the USD/CHF while there's nothing on EUR/USD. We tend to stick with EUR/USD because of the low spread but since we're mostly using 5ms we can go ahead and jump on other currency pairs.

Let's get to the Mulah!!!!! The markets owe us!!!! lol

 

[gaith bajubeer]

M.O.B-

You really impress me bro,The first step to getting the things you want out of life is this: Decide what you want.


With the one min you were risking 1% per trade aiming for 5 pips with a stop loss at 10 pips.

Here with the 5 min your aiming for 20 pis and the stop loss is 20 pips nice ratio here.

What money management are you doing here on the 5 min?

I really like the element of the 5 min in the sense your saving money trading a little less so you save money on the spread plus you can look for other pairs as the spread is not that important like trading the one min...

I can see you in that car you want....

 

[M.O.B.]

Ferrari

M.O.B-

You really impress me bro,The first step to getting the things you want out of life is this: Decide what you want.


With the one min you were risking 1% per trade aiming for 5 pips with a stop loss at 10 pips.

Here with the 5 min your aiming for 20 pis and the stop loss is 20 pips nice ratio here.

What money management are you doing here on the 5 min?

I really like the element of the 5 min in the sense your saving money trading a little less so you save money on the spread plus you can look for other pairs as the spread is not that important like trading the one min...

I can see you in that car you want....

Exactly brother!!! Which is the reason why I trade!!!! I want to have as many options as I want out of life

If you guys used this effective strategy today on a 5M, you would have made a lot of pips with me today

From here on out traders, we are going to use the 5Ms, just going to have to be patient for the set ups. I don't mind as long as I can get 20-25 pips per trade, I'm so ever happy

We all can make money with this strategy and guess what? You didn't have to pay for it

So please do yourselves a favor and download the template that I uploaded onto this forum and let's enjoy trading and above all LIFE!

Happy Trading and I look forward to an awesome Monday! I will check the forum sporadically to see if anyone have questions.

Happy Trading Fellow Traders!!!

 

[M.O.B.]

5M Chart EUR/USD

Hey Traders!

Before I leave on this beautiful friday in ATL, I did promise you guys to see the 5M Chart with my arrows to show the sweet set ups.

The red arrows are those set ups that I call the perfect storm and the yellow arrows are good set ups as well, the RSI just isn't 80/20, however on a 5M you can go at 75/25 if the prices are near the lines, just have to go with your gut feelings on that one.

I took all of these trades

There are 3 more beyond the picture but they wouldn't fit, there were 2 more perfect storms and 1 good set up. So from London open until Noon we had gotten 7 Opportunities.

Enjoy this strategy traders

Oh and PS, that first sell signal with the yellow arrow didn't go beyond the yellow line but I did enter the trade because I knew that 1.2415 was a strong resistance area and the RSI was at 75 and the Stochastics was above 80, SWEET!