SwingCalping system

Hi! This is my first thread on Baby Pips

I decided to start my own thread because I’m using a system that is an hybrid between scalping and swing trading.

First, I have only 4 months of forex trading and I’m really a beginner on it. I have 2 years of stock trading experience, and tons of documents & books readed, including the Babypips school.

In the test here in Babypips, I resulted to be swing trader, but the normal swing timeframe is for me a little slow, so I started looking at scalping methods, specially the Steroid Scalp system from PipSiphon.

I found that thread very, very, very useful, and just started understanding the price action. Please, read that thread if you are interested on scalping.

I use the recomendations from PipSiphon on my own system, but I mixed them with swing techniques, candlesticks and the famous GoldMiner indicator.

I’m going to place here screen shots of my trades, so you can see the advance, give recomendations to me and use the information for yourself if you find it useful.

I’m a programmer, speciallized on PHP, and fanatic of automation, so the first thing I did when started on forex, is to learn MQL4 language. At this time, I programmed a group of Custom Indicators. One is to show the trades on the screen, I use bullets with number 1 to 10, indicating the size of the trade, and colors, green for long entry, red for short entry, blue for take profit and purple for stop loss.

I also made modifications to de MABasedZigZag to draw fibonacci retracements, fibonacci fans and pitchwork channels.

I also made two more, one to place on chart the Bollinger bands of various timeframes, all at the same time (with different colors), white is 5M, yellow 15M, red for 1H, green for 4H and blue for 1D.

The same sequence of colors is used for moving averages, I use ema34, ema50, ema100, sma150 and sma200 with those colors and timeframes, all placed on my basis chart (1 Minute)

I also draw manually fibonacci retracements and fibonacci fans if the automatic indicator does not place something useful (I mean, if I see the automatic fibos are too small then I place ones myself), I use light blue for manual placed indicators.

Also I use pivots, daily, weekly and monthly pivots, and S/R using fractals of 15 minutes.

Finaly I use two more indicators that I found on the codebase.mql4.com, jj_infobar and zcomfx dailytrend.

Oh, of course, I use the goldminer indicator! But I use confluent (remember this word please) goldminers from 1M to 1H.

I think this is a lot of information, but there is more: Price Action (15 M), Market Flow (4 H), Average Daily Range or ADR.

Because I consider this is too much information to be processed by hand, I also made an expert that checks all the information and resumes it on simple figures, automatically calculates lot sizes, do 6 types of trailing stops (normal, ATR, Average Candle Size, parabolic sar, last fractal, normal at bar close), and gives a very nice one click buy/sell, buy*2/sell*2, close/close half, invert all trades.

Also it does visual trading, and permits to drag & drop lines on the screen to move stop loss and take profits.

This helps me to worry only on click entry or exit of trades without worring me about lot sizes, reducing the time I need to think before I click.

I’m starting with very small equity, only 150 USD (after trading successfully with 10 USD for a month), with mini account, with min lot of 0.001 of normal lot, that’s only 100 USD. The account’s leverage is 500:1, but I use my absolute max risk of 2%, with min risk of 0.2%.

In next posts I will starting placing charts, and comments about what I feel is wrong to do and what is good to do

And remember! I consider myself a newbie, non expert, easy prey trader. at least for now.