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urgently need a 250 dols mini lot,400;1 leverage,reliable broker 9 replies

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$250 for a Ferrari

  • #81
  • Oct 18, 2018 10:52am Oct 18, 2018 10:52am
Quoting magne999
{quote} I think my broker takes u.s clients P.M me 400:1 leverage unregulated but have no problems with them at all actually very helpful.....Offices in London soo no offshore broker..
Magne can you PM me too if you don't mind. If you get a referral bonus on my sign up, that's cool with me we can both benefit. I was reading your post in another thread about commissions and spread and I think I'd save a lot of money in the long run (am paying $5.50 per lot right now after IB discount, else it'll be $7).

Anyway, just a random thoughts:

Maybe the past 9 days of compounding has got a rush (hopefully not of greed) to my head. I was thinking of opening a micro account for say $5 or $10 that mirrors all my trades from my regular account. But while I'll do my usual withdrawals on the regular account, I'll let the micro account keep compounding accordingly. I think this might help with keeping my psyche intact and help me get over my fear of big numbers/big lot sizes without risking too much - at best I lose $5 or $10. I'm not familiar with EAs and stuff though, am an idiot when it comes to this stuff. Does anyone have any reading material or can point me in the right direction about automating the compounding process?

Thanks in advance.
You hesitate, you masturbate.
  • #82
  • Oct 18, 2018 10:59am Oct 18, 2018 10:59am
Quoting engweijie
{quote} Magne can you PM me too if you don't mind. If you get a referral bonus on my sign up, that's cool with me we can both benefit. I was reading your post in another thread about commissions and spread and I think I'd save a lot of money in the long run (am paying $5.50 per lot right now after IB discount, else it'll be $7). Anyway, just a random thoughts: Maybe the past 9 days of compounding has got a rush (hopefully not of greed) to my head. I was thinking of opening a micro account for say $5 or $10 that mirrors all my trades from my regular...
Synergyfx i think the name is have a API dashboard that you can have multiple mt4 accounts on the dashboard using this dashboard having a lot of features like buy limits and stops trailing and a lot of cool things its a third party API soo you can execute your trades from...On all of your accounts...Google it...I dont have it,but knows one that doo...PM away..
You win some you loose some do both with peace of mind
  • #83
  • Oct 18, 2018 11:02am Oct 18, 2018 11:02am
Quoting magne999
{quote} Synergyfx i think the name is have a API dashboard that you can have multiple mt4 accounts on the dashboard using this dashboard having a lot of features like buy limits and stops trailing and a lot of cool things its a third party API soo you can execute your trades from...On all of your accounts...Google it...I dont have it,but knows one that doo...PM away..
Perfect! Sounds exactly like what I need. Much appreciated my friend.
You hesitate, you masturbate.
  • #84
  • Nov 1, 2018 10:47am Nov 1, 2018 10:47am
Quoting engweijie
I'll start this log with my trades from the last 2 days. (All times are GMT +8) Thursday, 6 September 2018 8:27AM - Sell: 1.16583 , Closed: 1.16471 (+10 pips) 8:42AM - Buy: 1.16475 , Closed: 1.16475 (+0 pips) 11:25AM - Buy: 1.16376 , Closed: 1.16366 (-1 pip) 1:25PM - Sell: 1.16341 , Closed: 1.16262 (+8 pips) 3:57PM - Buy: 1.16192 , Closed: 1.16378 (+18 pips) 4:32PM - Sell: 1.16385 , Closed: 1.16375 (+1 pip) 4:53PM - Sell: 1.16410 , Closed: 1.16268 (+14 pips) 6:47PM - Buy: 1.16194 , Closed: 1.16403 (+21 pips) 10:44PM - Sell: 1.16464 , Closed: 1.16150...

Hello Mate,

It was encouraging to read your profile!!
I am also a trader doing part time, few times a week trading. Mainly relay on fundamental outlook and trade mostly on Gold. Its been more than 1 year I am trading. Lately I found that I am lagging in technical analysis. I know bits and pieces but not much of details.

I saw your profile saying you are mainly a technical analyst. Could you recommend any good source or a book to learn technical in detail?

Appreciate your help!!

Regards
Tushar
  • #85
  • Nov 1, 2018 1:56pm Nov 1, 2018 1:56pm
Quoting tush1822
{quote} Hello Mate, It was encouraging to read your profile!! I am also a trader doing part time, few times a week trading. Mainly relay on fundamental outlook and trade mostly on Gold. Its been more than 1 year I am trading. Lately I found that I am lagging in technical analysis. I know bits and pieces but not much of details. I saw your profile saying you are mainly a technical analyst. Could you recommend any good source or a book to learn technical in detail? Appreciate your help!! Regards Tushar
i have develooped my system myself but,learning technical analyses that work you should follow EUR/USD tread and the other tread that the system used on that tread it works and not too complicated even i am not there...https://www.forexfactory.com/showthr...7#post11643577
You win some you loose some do both with peace of mind
  • #86
  • Nov 1, 2018 1:58pm Nov 1, 2018 1:58pm
Quoting tush1822
{quote} Hello Mate, It was encouraging to read your profile!! I am also a trader doing part time, few times a week trading. Mainly relay on fundamental outlook and trade mostly on Gold. Its been more than 1 year I am trading. Lately I found that I am lagging in technical analysis. I know bits and pieces but not much of details. I saw your profile saying you are mainly a technical analyst. Could you recommend any good source or a book to learn technical in detail? Appreciate your help!! Regards Tushar
Hi Tushar,

Thanks for the kind words. I can’t recommend reading material though, unfortunately. I read a number of books along the way but understood none of them - I’m a visual learner and diagrams/charts teach me much more than when put in words. Not sure if it makes sense but if I can’t ‘see’ it I can’t understand it.

My technical methods are quite easy to understand though, I’ll share if it helps because I’m sorry I can’t contribute in terms of books and reading material. I’m a scalper, so while I do make a note of the general trend bias, it doesn’t stop me from trading in both directions. I mark out support resistance points on H1, then when price approaches I step down to M5 and M1 to time my entries. There isn’t much more to it. Technicals IMO are easier to grasp (at least for my brain - you just have to ‘see’ a setup you recognise forming) than fundamentals. I applaud you for being able to trade on news and gold - that is something I’ve been struggling with and in fact I should be the one looking to you for advice.

Once again, my apologies for not being very helpful. If anything, I learnt more just staring at charts and observing price patterns (general sweeping statement for EURUSD - Asia session ranges back and forth 10 to 15 pips, good for scalps. Frankfurt open has a tendency to fake out. First couple of hours of London sets the trend, get out of scalps and position yourself for the day then trail your stops. Few hours into New York is when reversal happens - get out and reverse for 20 to 25 pips then call it a day).

Anyway, for the others who follow this log. I had a great start to the week - TE screenshots below. But today was an absolute nightmare. Worst trading day of the year - 7 consecutive losses and zero wins. Taking tomorrow off and giving myself a long weekend to refresh my head and start next week straight. I’m not gonna blame the market - it behaved a little different (120 pip uptrend with 0 pullback in the entire day) and I failed to adapt to the situation so it is entirely my fault. My usual sniping back and forth support/resistance would not have and didn’t work at all.
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You hesitate, you masturbate.
  • #87
  • Nov 1, 2018 2:04pm Nov 1, 2018 2:04pm
Markets are Irrational
  • #88
  • Nov 4, 2018 1:37pm Nov 4, 2018 1:37pm
Quoting engweijie
{quote} Hi Tushar, Thanks for the kind words. I can’t recommend reading material though, unfortunately. I read a number of books along the way but understood none of them - I’m a visual learner and diagrams/charts teach me much more than when put in words. Not sure if it makes sense but if I can’t ‘see’ it I can’t understand it. My technical methods are quite easy to understand though, I’ll share if it helps because I’m sorry I can’t contribute in terms of books and reading material. I’m a scalper, so while I do make a note of the general trend...

Thanks Mate, (Apologies didnt get your name!)
Appreciate your detail explanation on your trading strategies. Being more of fundamental , I mostly relied on economic books. I was expecting same to learn for technical. I can understand its a skill than straight forward knowledge.

To be honest since last few weeks I am learning technical on EURO USD. If you dont mind I may comeback with few very specific questions. Hope you can guide me.!!

As you described its good idea to mark support and resistances on higher time frames like D1, H4 or H1 and then shift focus to corresponding smaller time frames H4, M30 or M15 when it starts approaching support and resistances. Since I am not day trader I have to rely on big time frames. I will let you know how I am progressing. EURO/USD was big pain for me last week.

My gold trading strategy is very simple and quite successful. I keep on tracing the dollar strength based on the US economic data . As per my experience the overall effect of dollar strength on the gold is sluggish compared to forex . Since I am not a day trader it gives me enough time to react. Best part of Gold is support and resistances cannot be faked!! II trade only in extremes and keep position for few days. Apologies this approach might annoy you since its not very fancy and accurate!!

Cheers
Tushar
  • #89
  • Nov 6, 2018 6:53am Nov 6, 2018 6:53am
Quoting tush1822
Since I am not day trader I have to rely on big time frames.
Hey my friend,

so sorry for the late reply. was busy and didn't check in on the forum the past couple of days.

but as per the quoted bit of your response, I think thats the main difference between you and I - no right or wrongs there, just different trading styles and as long as you're making money, all is good isnt it

Full props and respect to your success with Gold trades though
You hesitate, you masturbate.
  • #90
  • Nov 22, 2018 7:26pm Nov 22, 2018 7:26pm
22 November 2018

Haven't had time to update this journal much but I thought this would be a great day to document.

So I happened to chance across an ad for a broker on FF's homepage that was offering 'no deposit bonuses' so I thought it would be a good opportunity to practice counter-trend scalps since I literally had $0 to lose this way.

I think the general consensus was that EURUSD (at least on H1) was bullish for the day, but I made the decision to only take sell trades against the trend. Worked quite well, I must say - I walked away with a haul of just under 100 pips. Had I followed the trend and bought (and trailed) from main support (1.1395/1.1400), I probably would have just gotten out with 20 to 30 odd pips.

Now to to see if these ‘no deposit’ brokers actually work and if I can withdraw my loots (half to maxed leverage per trade since it was free money anyway)
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You hesitate, you masturbate.
  • #91
  • Nov 23, 2018 1:43am Nov 23, 2018 1:43am
Quoting engweijie
22 November 2018 Haven't had time to update this journal much but I thought this would be a great day to document. So I happened to chance across an ad for a broker on FF's homepage that was offering 'no deposit bonuses' so I thought it would be a good opportunity to practice counter-trend scalps since I literally had $0 to lose this way. I think the general consensus was that EURUSD (at least on H1) was bullish for the day, but I made the decision to only take sell trades against the trend. Worked quite well, I must say - I walked away with a haul...
Nice one boss. May I ask the name of the broker and its website.
  • #92
  • Nov 23, 2018 3:38am Nov 23, 2018 3:38am
Quoting Donwealt
{quote} Nice one boss. May I ask the name of the broker and its website.
PM'd you. Don't wanna drop brands here because I don't know if it's allowed and I don't wanna do free advertising for a broker. I'll share and recommend if they're good in private.
You hesitate, you masturbate.
  • #93
  • Nov 23, 2018 4:54am Nov 23, 2018 4:54am
Quoting engweijie
{quote} PM'd you. Don't wanna drop brands here because I don't know if it's allowed and I don't wanna do free advertising for a broker. I'll share and recommend if they're good in private.
Saw it. Will check them out. Thanks boss.
  • #94
  • Nov 23, 2018 8:45am Nov 23, 2018 8:45am
23 November 2018

I think (and I’m glad) I spoke a little too soon on yesterday being my best day in awhile. Made over 200 pips today Should have kept the 2 losing trades running though, within the same hour after closing them in loss, price turned and I wouldn’t have just broke even, I would have been in tidy profit lol. But I had errands to run so I set an automatic SL (I usually hold mental stops and close positions manually) so that’s that.

I am pretty much done for the day/week. Have a buy limit that expires an hour before marker’s close at 1.1340. If it’s picked up, cool. If it isn’t, then we’ll leave them as trades for next week.

Happy thanksgiving
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You hesitate, you masturbate.
  • #95
  • Nov 23, 2018 8:56am Nov 23, 2018 8:56am
Quoting engweijie
23 November 2018 I think (and I’m glad) I spoke a little too soon on yesterday being my best day in awhile. Made over 200 pips today Should have kept the 2 losing trades running though, within the same hour after closing them in loss, price turned and I wouldn’t have just broke even, I would have been in tidy profit lol. But I had errands to run so I set an automatic SL (I usually hold mental stops and close positions manually) so that’s that. I am pretty much done for the day/week. Have a buy limit that expires an hour before marker’s close...
excellent. i know you use high leverage, 200 pips must be a monster winner
As Above, So Below
  • #96
  • Nov 23, 2018 9:08am Nov 23, 2018 9:08am
Quoting tashkent
{quote} excellent. i know you use high leverage, 200 pips must be a monster winner
I see you've been milking her well too Enjoy your weekend my friend!
You hesitate, you masturbate.
  • #97
  • Nov 23, 2018 9:15am Nov 23, 2018 9:15am
Quoting engweijie
{quote} I see you've been milking her well too Enjoy your weekend my friend!
woke up a few hours ago to see sell tp hit but also some longs triggered, got everything back at retracement with plus, so no reason to complaint with 20% up for today lol.
enjoy your weekend!
As Above, So Below
  • #98
  • Nov 29, 2018 11:51am Nov 29, 2018 11:51am
Finally got some reprieve from my chronic insomnia but sadly I slept through all of Asia session and only began trading into London. Still a good haul though... +107 pips

Someone asked me about my money management methods so I thought I’d copy and paste it here. I touched on it briefly before but never really explained in detail.

I withdraw anywhere between 80% to 90% of my profits every night, last thing before I sleep. I leave the same fixed sum in my trading account to start the new day with.

I start the trading day scalping early Asian session at full leverage, compound up and down accordingly with evey win/loss. SLs are usually 3 pips, targeting 3 to 7 pips per trade, 10 pips or so later on in the morning when range expands.

About half an hour to an hour before Frankie, I stop the big scalps and try to get in on the Frankie/pre-London spike if any. These trades I will take my profits for the day (minus my initial balance) as my SL, and use a lot size equivalent to making this SL 15 to 20 pips, but I take my trades at this point with a 3 to 7 pip stop.

Once London kicks in and the general trend for the day has been identified, I try to sell rallys or buy bounces according to the trend at a lot size equivalent to 50 pips of my profit thus far, but actual trades will take a mental SL of 7 to 12 pips, unless I see the next marked level approaching (take my current trade for instance, I shorted 1.13870 after my BE + soda trade got stopped out based on the 1.1386 level), then price spiked up and the next level I marked 1.1397 was approaching so I added to my short at 1.13962) showing good potential for rejection again I'll add to it. SL will now be about 3 or 4 pips above this second marked level. Again, leverage compounds accordingly with every win/loss.

About an hour or so into NY session I start to look out for what some members here taught me was this daily retracement/reversal that comes on average at 10am NY. If I see price approach key levels that could justify such a move I hop in, leverage at 50% max of whatever profits I made so far would allow, so basically assume your balance is made up of your profits only (deduct the fixed sum I start with every day) and take half of what margin call would allow. Actual SL when trade happens roughly10 pips, TP 15 to 20 pips for this trade. Adding to trade rule from earlier still applies. If this happens, it happens. If it doesn't happen (ie no retracement setup) or after it happens, back to buying bounces and selling rallies at the same leverage parameters as London session.

Hopes this somewhat makes sense... I know it's probably a little unconventional.

*I put running trades to BE (+ broker’s comission) asap regardless of whether I have a pending order ahead or not. For morning scalps I put it to BE anywhere from 1.2 to 2 pips in profit. London and NY trades usually 3 to 7 pips in profit I will put it to BE then at 10 to 15 pips I’ll close half the trade in profit and move the rest of the trade’s to BE +3 to +5 therea
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You hesitate, you masturbate.
  • #99
  • Nov 30, 2018 11:47am Nov 30, 2018 11:47am
Quoting engweijie
Finally got some reprieve from my chronic insomnia but sadly I slept through all of Asia session and only began trading into London. Still a good haul though... +107 pips Someone asked me about my money management methods so I thought I’d copy and paste it here. I touched on it briefly before but never really explained in detail. I withdraw anywhere between 80% to 90% of my profits every night, last thing before I sleep. I leave the same fixed sum in my trading account to start the new day with. I start the trading day scalping early Asian session...
i wonder if you have any daily or weekly profit targets or at least average expectancy? if you do, what is the percentage to the account size?
also what leverage do you normally use or in terms of pips, how many negative pips can wipe out the account?
I usually trade conservative way but now decided to work on growing a small high leverage account with aggressive positions, however, i do not have too much experience when it comes to high leverage scalping. i think you are the right person to seek advise on this matter
any thoughts, suggestions would be greatly appreciated
As Above, So Below
  • #100
  • Nov 30, 2018 12:14pm Nov 30, 2018 12:14pm
Quoting tashkent
{quote} i wonder if you have any daily or weekly profit targets or at least average expectancy? if you do, what is the percentage to the account size? also what leverage do you normally use or in terms of pips, how many negative pips can wipe out the account? I usually trade conservative way but now decided to work on growing a small high leverage account with aggressive positions, however, i do not have too much experience when it comes to high leverage scalping. i think you are the right person to seek advise on this matter
Hey tashkent,

Noticed you've had a good run this week so first up, congrats on that

Now I do need to clarify something about my money management though - capital availability vs capital in account. I may talk about high leverage, over-leveraging and max leverage a lot, but at the end of the day I'm not looking to compound my account (by much). I leave behind the same fixed sum every day, withdrawing pretty much all profits save some breadcrumhs to grow my account and that's about it. As of right now, this initial daily starting balance has not crossed the 4 digit mark. In fact, it is a mid/low 3 digit sum which, at max leverage, is still barely risking 1% of a typical retailer's account size. It's a little unorthodox, I touched on it in my first post of this thread. But it's psychological for me as well - it gives me cushion/buffer for bad days, where my max potential loss is basically capped at this fixed amount that is, honestly, chump change for most who can afford to play this game. If I were to throw in my entire capital available into my trading account, I'd likely start revenge trading, making use of the added margin to start piling on positions and end up losing a hundred pips x the extra positions I opened or something.

As for how much leverage I actually use and how many pips can wipe my account:

For Asian session - Max leverage (500:1), my broker will allow roughly 12 to 13 pips before I am margin-called. My actual trades in this session have a running stop of 3 pips.

For London and NY session - I went into detail on lot sizes in my previous post, but it roughly works out to anywhere between 100:1 to 200:1 leverage for trades taken here. Never higher.

But of course, this only works with a 3 digit account because of the psychological aspect. At the end of the day, you risk a couple hundred bucks that is all. But give me a $50k account and I wouldn't have the balls to trade like this, I'd take the 'conservative' approach like you do.

I would say that as far as EURUSD goes, high leverage scalping works best during the Asian session, reason being that you typically see a 10 to 15 pip range playing out back and forth like a ping pong show, so if you make a mistake and you're caught in the middle (like I did this morning shorting 1.1389 to open the day), you can make a calculated risk/decision to forgo the 3 pip SL (I had daily resistance just above at 1.1397 thereabouts) and price is likely to turn back, you can close at BE or maybe with a couple pips even before you wait to take on the next set up.

With London and NY sessions, it wouldn't be wise to leverage up so high given the spikes and fluctuations that can take place. As much as the last couple of weeks have been easy - buy dips and sell rallies, compared to the Asian session which is relatively dull and quiet, London and NY have a higher propensity of seeing spikes or a random Trump tweet messing things up. Also, there's that psychological aspect the guys on EURUSD Only have been discussing a lot, about seeing whats on the chart versus letting your bias distort your view. In the Asian session, you can get away (somewhat) with the latter as I mentioned just earlier about making a decision to forgo your intended SL. But you do that in London/NY and it's very likely you'll see margin call within the hour.

I'm not sure how your trading style is, but I must say that trading this way you have to get in on very precise entries. If you're one of those guys that trade a H4 chart, where you just enter at the start of London, go about your day to day, then come back to check and collect profits before you head to bed, my way of leveraging is gonna get you a margin call. Every pip counts at high leverage, so you really gotta be on your ass picking the levels, stepping down to the lower TFs when price approaches and getting nothing less than the exact entry you marked out.

As for profit targets, I don’t. I just take whatever I can get. Sometimes slow days, sometimes good days and by months end they end up averaging out anyway. I feel that if I were to have a fixed number of pips I want to shoot for or fixed amount of dollars, it would throw my psyche out the window in a sense that I would start forcing trades/set ups to hit my targets which just wouldn’t be wise.

Hope this helps a little. Please let me know if/what you need is something a little more specific or if there's anything you'd like me to go into detail.
You hesitate, you masturbate.
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