What is your experience with thetradescalper.com approach?
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Mike
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This post has been selected as an answer to the original posters question
It really looks like an expensive scam.
But unlike others in this lucrative branch, the design of his website is not bad.
Unfortunatly, it still a scam, give your money to the Red Cross, it's a better idea .
If someone have something as good as he says/writes, why renting/selling it ?
This post has been selected as an answer to the original posters question
This is the setup:
He just uses a 1 min chart without indicators. After an expansion bar he waits for price to retrace a little further than the midline of that expansion bar. Then he enters in the direction of the prior trend. This is a with-trend setup. It assumes that the retracement was triggered by profit taking and that the original trend will resume. I do not know if any additional filters are used.
For ES the target is 3 ticks, the stop loss is 6 ticks. So your profit would be 3 ticks minus transaction cost (USD 4.00 per round turn) , the loss 6 ticks plus transaction cost.
Profit per contract and trade : USD 33.50
Loss per contract and trade : USD 91.50 (including 1 tick slippage)
So you would need a success rate of 73% just to break-even. No errors allowed.
I do not think that this is a special opportunity and I would not pay for that advice, but try to develop a setup myself.
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