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-   -   Scalping 20+ trades per day (https://www.forexfactory.com/thread/313522-scalping-20-trades-per-day)

majorusa Sep 7, 2011 3:46am | Post# 1

Scalping 20+ trades per day
 
Hi!

Thank you for stopping by my trading journal.

I trade for a living. My main technique is scalping and I am usually trading 20+ entries a day. I trade usually from London open to 3 PM GMT (15.00 GMT). My goal is to have all positions closed at the end of the day. I do not trade news.

The system is simple. I plot S/R areas on the chart, trend lines, pivots and I enter counter trend there. If the price is moving against me I look for the next area and add to the position creating a better average for the moment when the price will turn.

The target profit is 5-30 pips per position. It is not mechanical trading and I will not explain all my rules. Since the number of trades is high during a regular day my first ambition is to enter a trade in the journal in the next seconds after is executed.

A typical entry will look like this:

sh EU 56 -meaning I shorted EURUSD at the price 1.40567. The clock is FF clock when I post the entry. I try to do it within a minute from entry.

the abbreviations are:

sh - short
l - long
av - average price of the position
eu - EURUSD
gu - GBPUSD
au - AUDUSD
gj gy - GBPJPY
ej ey - EURJPY
uc - USDCHF
sq - square meaning that I have no position open

You may consider that each entry has the same size. I will post where my adding is 2 or more times the initial size.

A word of advice:
I do not trade with SL. I have a monetary SL that is a % of the equity. I will not disclose my equity or profits. I will post profits in pips net of commissions. I will not post statements nor respond to the ones asking for it.

I trade live with Dukascopy, using jforex platform. I chart on Mt4. So I will not be able to post the entries on MT4 charts nor myfxbook or other performance tracking platform.

Please do not follow my trades on live accounts. This style is the result of close to four years of exploring and trial and error. My trades are not signals to anyone but a way to discipline my trading and to see if I can increase the frequency of trading. All my trades are manual trades at market.

From time to time I will post my charts with the bias for the day and main levels.

I think that for the moment this covers the basics. Thank you for reading.

Update 1. I will not post the time anymore. It will be the time of the post in FF +/- 1-2 minutes. It is hard to trade and write. I had trades closed after less than 1 min.

Update 2. I started to receive questions by PM. I am not answering to PM. If you have a question please ask it in the thread. Thank you for your understanding.

Result:
2011
September +2398 pips (an incredible result but with the use of over 60% of my trading line! It was risky like hell and I will never do it again!)
October +1624 pips
November +1476 pips
December 0 pips - I did not trade

2012
January 0 pips - I did not trade
February 0 pips - I did not trade
March +989 pips
April + 569 pips but I traded only one and a half weeks

majorusa Sep 7, 2011 3:48am | Post# 2

For the time being I am square waiting for the German Court Bailout Ruling.

majorusa Sep 7, 2011 4:16am | Post# 3

l EU 1.40972 08.11 GMT

majorusa Sep 7, 2011 4:21am | Post# 4

l GU 1.59916 08.18 GMT

majorusa Sep 7, 2011 4:29am | Post# 5

out GU 1.59988 +7.2 pips

Out because of news in 2 minutes

majorusa Sep 7, 2011 4:44am | Post# 6

l GU 87 08.40 GMT

majorusa Sep 7, 2011 4:51am | Post# 7

out GU 98 +11 pips 08.47 GMT

A bit too early

majorusa Sep 7, 2011 5:09am | Post# 8

l EJ 81 09.05 GMT

majorusa Sep 7, 2011 5:20am | Post# 9

l GU 00 09.17

majorusa Sep 7, 2011 5:30am | Post# 10

add l EJ 55 09.26

av 68

majorusa Sep 7, 2011 5:31am | Post# 11

add EU 66 9.27

av 82

majorusa Sep 7, 2011 5:38am | Post# 12

add EU 46 9.34

av 70

majorusa Sep 7, 2011 5:44am | Post# 13

add GU 77 09.41

av 89

majorusa Sep 7, 2011 6:04am | Post# 14

out EU 79
+9.1 x 3 = 27.3 pips

majorusa Sep 7, 2011 6:15am | Post# 15

l EU 48 10.11

majorusa Sep 7, 2011 6:17am | Post# 16

add EY 40 10.14

av 59

majorusa Sep 7, 2011 6:52am | Post# 17

out EU 58 +10 pips 10.49

majorusa Sep 7, 2011 7:14am | Post# 18

out GU 97 11.11

+8x2 = 16 pips

majorusa Sep 7, 2011 7:27am | Post# 19

What a slow day today!

majorusa Sep 7, 2011 9:27am | Post# 20

add EJ 44 13.24

av 55

majorusa Sep 7, 2011 9:58am | Post# 21

Got bored and got to go. So...

out EY 57
+2 x 4 = 8 pips

Result for the day: +80 pips.

Slow day, only 15 trades, but good profits. See you tomorrow.

madetrader Sep 7, 2011 10:57am | Post# 22

l EU 1.40972 08.11 GMT
hey at this time i see a bar with 1.4065 open and 1.4064 close on the EURUSD??

madetrader Sep 7, 2011 11:05am | Post# 23

If the price is moving against me I look for the next area and add to the position creating a better average for the moment when the price will turn.
Sorry i dont really understand, are you saying when long and prices go against you, you double your position at a lower level then wait for prices to turn back up?

or double your risk at another area?

majorusa Sep 7, 2011 11:36am | Post# 24

It is not martingale. I am not doubling the position. I add same entry lot size to the position at specific levels. My goal is to stay in a reasonable amount of pips distance from the current price.

As with regard to the price here is from server:
"Order BUY xxxx EUR/USD @ MKT is sent at 2011-09-07 08:11:57.486 GMT manually
Order FILLED at 1.40972 USD."
There might be a difference in time between Dukascopy and your platform.

majorusa Sep 8, 2011 2:59am | Post# 25

Good morning.

My bias today is still long on EU, AU and GU but with GU I will se what will happend after London open.

majorusa Sep 8, 2011 3:20am | Post# 26

l GU 28 07.19 GMT

majorusa Sep 8, 2011 3:37am | Post# 27

l EU 68 07.36

majorusa Sep 8, 2011 3:40am | Post# 28

out GU 40 +12 pips 07.39

majorusa Sep 8, 2011 3:46am | Post# 29

l GU 27 07.45

majorusa Sep 8, 2011 4:11am | Post# 30

out EU 78 +10 pips 08.11

My attempt at 80 was not filled.

majorusa Sep 8, 2011 4:18am | Post# 31

L EU 73 08.18

majorusa Sep 8, 2011 4:26am | Post# 32

L EJ 86 08.25

majorusa Sep 8, 2011 4:36am | Post# 33

out GU36 +9pips 08.35

majorusa Sep 8, 2011 5:15am | Post# 34

Missed the EU exit at +9. Greed!

majorusa Sep 8, 2011 5:41am | Post# 35

1 Attachment(s)
I am taking a break. This is how it looks now: +31 pips in balance and two positions open.
Name:  ScreenHunter_ Sep. 08 12.39_11.jpg
Views: 1375
Size:  22 KB

Arnold49 Sep 8, 2011 5:46am | Post# 36

Hi Major, can you say how you determine your daily bias?
I am following very closely today, very interesting, thanks.

majorusa Sep 8, 2011 6:05am | Post# 37

Sure. I am looking on D H4 and H1. Let's look on EU D1. was rejected by the 233 ema twice. It looks like the channel is still holding.

Still I do not understand what is with this low volatility.

majorusa Sep 8, 2011 6:28am | Post# 38

ad EJ 67 10.27

av 77

majorusa Sep 8, 2011 6:29am | Post# 39

add EU 53 10.29

av 63

majorusa Sep 8, 2011 6:46am | Post# 40

add ej 53 10.45

av 69


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