FxTyrant Scalper Bot
The user has deleted this system.
FxTyrant Scalper Bot Discussion
Apr 21, 2011 at 04:45
971 Views
7 Replies
May 07, 2011 at 17:25
Yea welcome to the chat, well the reason why i called this strategy the 'walk the dog' strategy is plainly because of how the performance comes out, as trades uses only 10 pip TP and no SL Set, you can literally hold on to the trade forever until your account takes that profit or run negative as long as you want, it would be MOST BENEFICIAL to have a broker that doesnt charge swap or interest overnight.
This system is particularly dangerous if you dont know money management manually, say for an example you have a 10000USD account, playing a trade of 0.25 lots is 2.5 USD per pip so you can hold your trade for a maximum of -4000 pip before getting yourself margin called, you can increase your capacity by lowering the lot size traded or the amount of trade you enter each time
as long as your TP gets hit often enough so that the Balance Drags the equity along, dont worry if equity is still floating, as the balance goes up the equity should go the same direction if your trades are sound, now although im floating loss, i can say okay i want to close it today making a huge -1000 usd loss, so when i close, my balance would be at equity point but the equity wouldve already gone up from the original initial deposit, so theres your nice profit.
Come to technicals this is basically a manual trading process with this set of rules
Using 2 EMAs on M5, M15 and M30
Rules to enter Trade: Long
Verify that in M5, M15 and M30 shows that PRICE is above EMA 10 and EMA 10 Above EMA 144 on all 3 charts
When the price touches the EMA 10 line on pullback downwards in the M5 chart it would be a Long entry of 10 pips take profit, make sure to only enter when it touches.
Rules to enter Trade: Short
Verify that in M5, M15 and M30 that PRICe is Below EMA 10 and EMA 10 is Below EMA 144 on all 3 charts
When the Prices touches the EMA 10 line on pullback Upwards in the M5 Chart, it would be a Short entry of 10 pips take profit, make sure to only enter when it touches.
Now i have to stress knowing your account capability to run the trades, sometimes it means you have to watch out for news...
Good luck
You can trade this strategy 24/7, but i would recommend not to over trade.
Recommended pairs : EURUSD, GBPUSD, USDCHF, AUDUSD, NZDUSD, USDCAD
This system is particularly dangerous if you dont know money management manually, say for an example you have a 10000USD account, playing a trade of 0.25 lots is 2.5 USD per pip so you can hold your trade for a maximum of -4000 pip before getting yourself margin called, you can increase your capacity by lowering the lot size traded or the amount of trade you enter each time
as long as your TP gets hit often enough so that the Balance Drags the equity along, dont worry if equity is still floating, as the balance goes up the equity should go the same direction if your trades are sound, now although im floating loss, i can say okay i want to close it today making a huge -1000 usd loss, so when i close, my balance would be at equity point but the equity wouldve already gone up from the original initial deposit, so theres your nice profit.
Come to technicals this is basically a manual trading process with this set of rules
Using 2 EMAs on M5, M15 and M30
Rules to enter Trade: Long
Verify that in M5, M15 and M30 shows that PRICE is above EMA 10 and EMA 10 Above EMA 144 on all 3 charts
When the price touches the EMA 10 line on pullback downwards in the M5 chart it would be a Long entry of 10 pips take profit, make sure to only enter when it touches.
Rules to enter Trade: Short
Verify that in M5, M15 and M30 that PRICe is Below EMA 10 and EMA 10 is Below EMA 144 on all 3 charts
When the Prices touches the EMA 10 line on pullback Upwards in the M5 Chart, it would be a Short entry of 10 pips take profit, make sure to only enter when it touches.
Now i have to stress knowing your account capability to run the trades, sometimes it means you have to watch out for news...
Good luck
You can trade this strategy 24/7, but i would recommend not to over trade.
Recommended pairs : EURUSD, GBPUSD, USDCHF, AUDUSD, NZDUSD, USDCAD
May 07, 2011 at 18:09
yea i am still kinda thinking as how to get the best out of it... you can try a trail stop of maybe 25 pips to start off
and this trail you can make it to follow the price up pip by pip after you reached + 10 pips
that should work i think, well just start a demo and try it out...
for the time being im still looking at other things whether if EMA 10 and EMA 144 would be the best
and this trail you can make it to follow the price up pip by pip after you reached + 10 pips
that should work i think, well just start a demo and try it out...
for the time being im still looking at other things whether if EMA 10 and EMA 144 would be the best
Member Since Mar 12, 2010
21 posts
May 08, 2011 at 13:10
Your name says 'fxtyrant scalper bot'. Is this actually an EA robot doing these trades or are you entering the trades manually?
If it is an EA, can I purchase it?
If it is an EA, can I purchase it?
May 08, 2011 at 14:24
@ForexMatt: yea i wish i could have the time to tweak my rules..
@bonco_gordo: Hi bonco, welcome to the discussion, unfortunately the bot is not really a bot, but rather an indicator i wrote that will give me a signal when the rules are met, here are the rules, sooo basically when the rules are met and price touches the EMA10 for an entry, a popup message will ask me if i want to enter the trade or not, and it will do the Set TP = 10 pips for me, just rather than keeping an eye as price touches for entry and having to press Place and order, press Sell or Buy then Set Tp 10 all manually...
Here are the rules though
Using 2 EMAs on M5, M15 and M30
Rules to enter Trade: Long
Verify that in M5, M15 and M30 shows that PRICE is above EMA 10 and EMA 10 Above EMA 144 on all 3 charts
When the price touches the EMA 10 line on pullback downwards in the M5 chart it would be a Long entry of 10 pips take profit, make sure to only enter when it touches.
Rules to enter Trade: Short
Verify that in M5, M15 and M30 that PRICe is Below EMA 10 and EMA 10 is Below EMA 144 on all 3 charts
When the Prices touches the EMA 10 line on pullback Upwards in the M5 Chart, it would be a Short entry of 10 pips take profit, make sure to only enter when it touches.
@bonco_gordo: Hi bonco, welcome to the discussion, unfortunately the bot is not really a bot, but rather an indicator i wrote that will give me a signal when the rules are met, here are the rules, sooo basically when the rules are met and price touches the EMA10 for an entry, a popup message will ask me if i want to enter the trade or not, and it will do the Set TP = 10 pips for me, just rather than keeping an eye as price touches for entry and having to press Place and order, press Sell or Buy then Set Tp 10 all manually...
Here are the rules though
Using 2 EMAs on M5, M15 and M30
Rules to enter Trade: Long
Verify that in M5, M15 and M30 shows that PRICE is above EMA 10 and EMA 10 Above EMA 144 on all 3 charts
When the price touches the EMA 10 line on pullback downwards in the M5 chart it would be a Long entry of 10 pips take profit, make sure to only enter when it touches.
Rules to enter Trade: Short
Verify that in M5, M15 and M30 that PRICe is Below EMA 10 and EMA 10 is Below EMA 144 on all 3 charts
When the Prices touches the EMA 10 line on pullback Upwards in the M5 Chart, it would be a Short entry of 10 pips take profit, make sure to only enter when it touches.
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