|Click to enlarge|
- Use the system on any pair you like.
- Timeframe for main screen is M1and M5. TP is 12 pips,SL 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 take.The best thing would be to exit at the counter semafor... but I do not dare :) You could set quiktrailing to break even at your liked pips or to lock in some profit,you shoot for more...
- Eventually 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 of course give even more safety.
- To start scalping, wait for the messagebox to tell you that a level 3 semafor has been detected, that is the yellow one with a red circle around it.
- Check the trend then. On right side in the middle the trend percentage must be at least over 70% in one direction, the higher the better.
- 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.
- 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 !
- 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, check money management !!! For this I work with SL 100 or higher in the quik trailing settings (thanks 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) But check out whether you like that kind of catching trades .
- For further confirmation of trends check the currency heat indicator at bottom. I do never 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.
- There are also the colour bars top right on screen telling you also what SHALL happen. I use this system on more than 10 pairs at once with a bankroll of around 5k EUR.
Happy scalping !