Urban Towers Scalping Strategy

[Sgt. Pipper]

I've been trading this strategy everyday last week on the 1 and 5 min TF. I have had almost every trade profitable with at least a 3 pips profit. When the trade goes over 5 pips, I move my stop to where I have a 3 pip profit. I use MBtrading, so my spread is mostly at or less than 1 pip. My first pip profit is enough to cover their commission cost. I have taken over 80 trades with a total of 400+ pips. I plan to go live with this strategy in the new year 2012.

 

[Sgt. Pipper]

Simplicity is key in today's trending markets.

I use this anytime of day.

 

[urbanforex]

I've been trading this strategy everyday last week on the 1 and 5 min TF. I have had almost every trade profitable with at least a 3 pips profit. When the trade goes over 5 pips, I move my stop to where I have a 3 pip profit. I use MBtrading, so my spread is mostly at or less than 1 pip. My first pip profit is enough to cover their commission cost. I have taken over 80 trades with a total of 400+ pips. I plan to go live with this strategy in the new year 2012.

That's great to hear Sgt. Pipper

I've hired an intern that updates trades from this strategy everyday on a blog. Over 5 months of data to look back upon with images and explanations. I'll have him come on this forum and share some of his experiences.

I personally thank you for sharing your tweak.

Regards,
Navin Prithyani

 

[Sgt. Pipper]

That's great to hear Sgt. Pipper

I've hired an intern that updates trades from this strategy everyday on a blog. Over 5 months of data to look back upon with images and explanations. I'll have him come on this forum and share some of his experiences.

I personally thank you for sharing your tweak.

Regards,
Navin Prithyani

Thank you for creating the system. I've been to urban forex quite often over the years, and I love this system best so far. I implemented BBands 50,3 settings for range reasons as well a psar for exit/trailing purposes (default). One of my favorite indicators is fisher 11 because of its reliability and I am going to try it sometime this week. I normally like to use 3 or less indicators. After my demo test, I will have a solid game plan to go live and use only the essential indicators. I am a scalper, and with any system I've used I never let a trade go back into a negative after I reach a profit of 5 pips. This is the only way I've been able to do very well in forex. I'm ok with most of my trades being 3-8 pips. It works for me. My SL maximum is 11 pips or recent candle high/low. Whichever is tightest. In my early days I would increase my stop when price got close. Now I don't mind getting stopped out. Thanks again.

 

[Option1]

Quick question: are there 2 Navin Prithyani with 2 different usernames ?

 

[Sgt. Pipper]

Quick question: are there 2 Navin Prithyani with 2 different usernames ?

I just read this whole thread due the the email I got from t2w and your reply, so I understand why you ask, lol. I've been a long time member and trader if you're referring to me then your answer is yes. I am his clone and I'm here to persuade you to worship me ...........Just kidding. This is really entertaining though. To see the "conspiracy" phase in a trader's journey. Been there, done that..... I normally only read forums and won't normally post but I like this strategy. Testing it out and hoping it will stay consistent for the month.

 

[Sgt. Pipper]

I saw a trader walking his dog today and said, "Wow, I love your pig!" "That's a dog, not a pig" he said. ......I replied, "I was talking to the dog".

 

[forexwatchers]

Theres a webinar on this strategy within the next 1 hour.

 

[steve61]

Hi Dan S,

I have attached a picture to make it easier to understand what I'm going to explain.

In the picture we see, we have a 1,2,3 towers then we have the break of the white line is where we enter the trade.
Regarding Stops, you keep the stops at the lowest dip. (The red line)

Regarding exits / take profits, you have to use your own methods.

Hope that helps.

- navin
urbanforex

cant download gif:?: