Hello all.
On Russian forums there is this trading legend, a scalper who claims to be able to increase deposit 10% per day!!!
I was testing it and sometimes it DOES make good results, but since I live in mountain time zone, the system is tough...
I feel too sleepy and I was unable to test it long enough... But I did have awesome pip gains, it was one of the best systems I ever tried (except for the tough time and the fact that this is scalping).
I would like to see the kind of result people can get... Test it on a demo. I am curious, is this for real? And please post the results here.
Here is rough translation, summarization:
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Trading pairs:<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o
></o>
GBP/USD, EUR/JPY (or USD/JPY depending on situation), USD/CAD, USD/CHF; <o></o>
<o></o>
Indicator Groups:
№1 USD/CHF, USD/CAD;
№2 EUR/USD, GBP/USD;
№ 3 EUR/JPY, USD/JPY.
<o></o>
IF 1<SUP>st</SUP> group is moving in one direction and 2<SUP>nd</SUP> in the opposite, then we know USD tendency. If both pairs in group #3 are moving in one direction, then we know the JPY tendency.<o></o>
<o></o>
Only trade pairs whose channel is 50 pips . (One channel of asian flat, another one before NY)
Best volatility, time to trade:
2-5:30am EST
8-11:30am EST
You can enter other pairs (especially Swiss, sometimes GBP, maybe even Cad which also shows where euro should go) even if their daily range <50 pips, as long as Euro broke its daily H or L and is moving.
<o></o>
Enter on the breakout of current channel from tick charts through stop orders only.
Example if Group 1 is growing, consider buyng USD/CHF,USD/Cad and only shorting gbp/usd. If EUR/JPY, USD/JPY and EUR/USD both move in one direction enter on EUR/JPY. IF group N1 goes in one direction and N2 in another, enter on usd/jpy only in the direction of group #1.
<o></o>
For London session the channel is daily high-daily low.
For New York, it is the channel for the past 10min-4hours depending on market volatility. If the market is not volatile the channel is usually from past 30 minutes, if it was volatile than the channel is build for the past 10 minutes.
<o></o>
IF few pairs are going in appropriate direction, then the tendency may be for an hour. If all six pairs move in appropriate directions, then the tendency may be for the whole day.
<o></o>
CAD really starts to move only in US Session. Cad is good in the fact that if it breaks daily extreme at 6:30EST, then it will trend to 6:15-6:25ESR (if news) and to 7:15am EST if there aren’t news in the US session
<o></o>
Money management:
Enter on breaking of daily extreme per pair:
Euro group 1/32 + 1/4 + 1/32(1/16) + ...
Yen group,Usd/Cad 1/32 + 1/8 + 1/32(1/16) + ...
Enter from local extremum for all 1/32 + 1/16 + 1/8 + 1/32(1/16) +...<o></o>
<o></o>
Pyramid positions every constant number of pips (ex 20pips) only for the pairs that are moving, don’t add to those pairs that are barely moving.<o></o>
Paramon says that he does 10-20 orders per day.
<o></o>
Stop loss:
Initially 1 pip below the current daily candle (which could be 50+ pips). Then moved to the start of the move or (Daily High – Dailylow) /2 . If multiple currency pairs suddenly start breaking the Daily Middle (H-L/2) then enter.
Set ultra short stop loss during important times:
2:00, 2:30,3-3:15, 4-4:15, 5-5:30, 7-7:15, 10-10:15, 11-11:30am EST.
Also exit if the position freezes for 15 minutes.
On Friday close by 11am.<o></o>
Take profit:
trailing stop of (10-30 pips). Or behind recent extreme (using dow theory). Also if group tendency changes then exit. Orders are modified every 5 minutes and constantly during news time.
On Russian forums there is this trading legend, a scalper who claims to be able to increase deposit 10% per day!!!
I was testing it and sometimes it DOES make good results, but since I live in mountain time zone, the system is tough...
I feel too sleepy and I was unable to test it long enough... But I did have awesome pip gains, it was one of the best systems I ever tried (except for the tough time and the fact that this is scalping).
I would like to see the kind of result people can get... Test it on a demo. I am curious, is this for real? And please post the results here.
Here is rough translation, summarization:
----
Trading pairs:<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o
></o>GBP/USD, EUR/JPY (or USD/JPY depending on situation), USD/CAD, USD/CHF; <o
></o><o
></o>Indicator Groups:
№1 USD/CHF, USD/CAD;
№2 EUR/USD, GBP/USD;
№ 3 EUR/JPY, USD/JPY.
<o
></o>IF 1<SUP>st</SUP> group is moving in one direction and 2<SUP>nd</SUP> in the opposite, then we know USD tendency. If both pairs in group #3 are moving in one direction, then we know the JPY tendency.<o
></o><o
></o>Only trade pairs whose channel is 50 pips . (One channel of asian flat, another one before NY)
Best volatility, time to trade:
2-5:30am EST
8-11:30am EST
You can enter other pairs (especially Swiss, sometimes GBP, maybe even Cad which also shows where euro should go) even if their daily range <50 pips, as long as Euro broke its daily H or L and is moving.
<o
></o>Enter on the breakout of current channel from tick charts through stop orders only.
Example if Group 1 is growing, consider buyng USD/CHF,USD/Cad and only shorting gbp/usd. If EUR/JPY, USD/JPY and EUR/USD both move in one direction enter on EUR/JPY. IF group N1 goes in one direction and N2 in another, enter on usd/jpy only in the direction of group #1.
<o
></o>For London session the channel is daily high-daily low.
For New York, it is the channel for the past 10min-4hours depending on market volatility. If the market is not volatile the channel is usually from past 30 minutes, if it was volatile than the channel is build for the past 10 minutes.
<o
></o>IF few pairs are going in appropriate direction, then the tendency may be for an hour. If all six pairs move in appropriate directions, then the tendency may be for the whole day.
<o
></o>CAD really starts to move only in US Session. Cad is good in the fact that if it breaks daily extreme at 6:30EST, then it will trend to 6:15-6:25ESR (if news) and to 7:15am EST if there aren’t news in the US session
<o
></o>Money management:
Enter on breaking of daily extreme per pair:
Euro group 1/32 + 1/4 + 1/32(1/16) + ...
Yen group,Usd/Cad 1/32 + 1/8 + 1/32(1/16) + ...
Enter from local extremum for all 1/32 + 1/16 + 1/8 + 1/32(1/16) +...<o
></o><o
></o>Pyramid positions every constant number of pips (ex 20pips) only for the pairs that are moving, don’t add to those pairs that are barely moving.<o
></o>Paramon says that he does 10-20 orders per day.
<o
></o>Stop loss:
Initially 1 pip below the current daily candle (which could be 50+ pips). Then moved to the start of the move or (Daily High – Dailylow) /2 . If multiple currency pairs suddenly start breaking the Daily Middle (H-L/2) then enter.
Set ultra short stop loss during important times:
2:00, 2:30,3-3:15, 4-4:15, 5-5:30, 7-7:15, 10-10:15, 11-11:30am EST.
Also exit if the position freezes for 15 minutes.
On Friday close by 11am.<o
></o>Take profit:
trailing stop of (10-30 pips). Or behind recent extreme (using dow theory). Also if group tendency changes then exit. Orders are modified every 5 minutes and constantly during news time.
