1. You can use the XXL scalping system on any pair of your choice.
2. Timeframe for primary screen is M1 and M5. Take profit is 12 pips, stop loss is 45 pips. I’ve set slower moving pairs to TP 7 also, depends on your expectations. The higher the timeframe, the more profit you may want to make. The ideal situation would be to exit at the counter semafor… but it’s not higly recommended as price not always reach it 🙂 You could set quik trailing to break even at your liked pips or to lock in some profit, if you look for more…
3. You can also use a second backup screen for higher semafor check on M15/M30, but get your feeling. TRO says trading only if at least H1 shows ANY semafore (1,2,3) in your direction, but I work without that. It would surely provide even more safety.
4. To start scalping, wait for the messagebox to appear with notice that a level 3 semafor has been detected. This is the yellow one with a red circle around it.
5. Next step is check the trend. On right side in the middle the trend percentage must be at least over 70% in one direction, the higher percentage the better.
6. Check Semafor 3 again and make sure, it is in very close range to the thick double lines blue and green. If it is in them or even past, get ready.
7. Check the RSI black and yellow line in the middle indicator on screen. If it is over 80 and semafor has touched or pierced blue double (bending) outer line,GO SHORT ! Do not think 🙂
If it is under 20 and semafor has touched or pierced green double (bending) outer lines, GO LONG !
8. Be aware that semafor is a repainting indicator and thus will appear more than on one candle after another, always marking highest of a trend.
I have a special way catching trades … but BEWARE OF HIGH RISK HERE, always use proper money management!!!
For this I work with SL 100 or higher in the quik trailing settings (thank you Quiksilver!)
If a trade goes against my entry, I will re-enter with some martingale element. Meaning I check the daily average movement of a pair, take 50% and divide this by 3.
Example : GPYJPY goes against my first entry with 0.1 lots, I calculate :
Around 300 pips average /2 = 150, 150 / 3 = 50.
Thus I reenter with double lot size 0.2 at -50 pips of the first trade.
NOT EVER BEFORE THAT !! 30 pips movement for that pair is nothing …
Until now (4 weeks) I have never used more than 3 levels of this strategy (0.1 0.2 0.4)
Check it and make sure if you like this kind of catching trades.
9. For further confirmation of trends check the currency heat indicator at bottom. I highly advise to not trade against the H1/H4 trend! The trend indicator middle right (I was reffering before to it) is setup to mix H1 and H4 trend already, so mostly no need in reconfirming that.
10. There are also the colour bars top right on screen telling you also what SHALL happen. I have personally traded this system on more than 10 pairs at once with a bankroll of around 5000 EUR.