Chartergas
Junior member
- Messages
- 15
- Likes
- 0
int he book mastering the trade chapert 8 - the scalper buy and sells trade rules:
1 set up 24hr chart on intraday charts so overnight activity can be accounted for in the indicator set up. this can be used any time frame- the bigger the timefram the bihger the potential gains.
2 after three consecutive higher closes, go long at the market, at the close of the third bar in the sequence.
3 trade is valid unbtil three consecutive lower closes occur at which piont is the exit and then exit say loong and establish a short or vice versa. on daily charts place a stop loss at the low of the bar that triggers three consecutive bars.
4 15min or less charts close the trade just before close and above 60 mins hold overnight and exit at the next signal
very simple - i have paper traded today with coca cola -(usually do real trades but my reading on here has made me seek simple consitant systems so trying em out) and went long at 49.12 and am still in the trade now at 49.32 so some nice quick points and climbing.
anybody else using this with success????
im just trying to see other things that need to be addressed so as not to get a false signal but if you go over the charts its about a 70% sucess rate!!!
1 set up 24hr chart on intraday charts so overnight activity can be accounted for in the indicator set up. this can be used any time frame- the bigger the timefram the bihger the potential gains.
2 after three consecutive higher closes, go long at the market, at the close of the third bar in the sequence.
3 trade is valid unbtil three consecutive lower closes occur at which piont is the exit and then exit say loong and establish a short or vice versa. on daily charts place a stop loss at the low of the bar that triggers three consecutive bars.
4 15min or less charts close the trade just before close and above 60 mins hold overnight and exit at the next signal
very simple - i have paper traded today with coca cola -(usually do real trades but my reading on here has made me seek simple consitant systems so trying em out) and went long at 49.12 and am still in the trade now at 49.32 so some nice quick points and climbing.
anybody else using this with success????
im just trying to see other things that need to be addressed so as not to get a false signal but if you go over the charts its about a 70% sucess rate!!!
