Double the Account... by Scalping

3 September 2016 Update:

Nearly one year after the last update!!
Been son long, but i never gave up. always trying!

And finally i can prove my 100% double account, by scalping I DID IT!!!!!!!!!!!!!

Start the fireworks !!

Next Goal: 200% by months end.



29 September 2015 Update:
(this attempt starts on post 126)


Here i am again...

9 months later i am here to try one more time with a system i invented (Manta System)

It's a hybrid system (EA+Me). I dropped forex because strong manipulation kills my strongest moves. I trade futures now, DAX futures.

I will post some live trades. Big difference from last attempts is that now i use a stop loss! A timer stop loss and a hard stop loss when everything goes wrong that one kicks in.

i still don't like trading demo accounts, but funds are not available right now, so demo it must be.


30 January 2015 Update:

(this attempt starts on post 108)


This time i will make 100 consecutive winner trades, each one weight 1% on the account.

If i happen to fail just one of them, it is considered a FAIL.

I will not post any Stop Loss, but for the sake of this adventure if a trade goes 100 pips away from the entry it is considered a FAIL.

Pairs to be traded are just these: eurusd,gbpusd,eurgbp,usdjpy and audsd. That should be enough for a trade a day at least.

17 December 2014 Update:

(this attempt starts on post 99)

So i am back again. Another try to reach 100% profit Hall of Fame

Last try failed because i over traded, and used excessive leverage.

Hope this time things will be different.

My trades are 100% automatic (EA based). I coded the bot alone on a idea that i came up today LOL.

So far it's on demo (fresh bot, fresh idea). I am not fan of demo accounts, but i do not have the money to spent anymore on tests with a real live account.

This time i have a trade explorer to evaluate this idea





24 October 2014 Update:

Starts on post #65

So, what is the difference from this trading method than all of the above?
- Trading pairs reduced to EurUsd and GbpUsd;
- Trading Hours reduced to the London Open and New York Open;
- Possible rescue a bad trade to level 4;
- R:R = 1:1;

The objective remains the same: double the account. This time there is no race to the end. just get there in one piece.


30 April 2014 Update:

So, after i drifted searching for a system that suits me, i have found one good. It fits my personality. Just for sharing purposes i will publish my trades again. I have learned a lot in the forum, so this is me giving back.

I trade only price action, Support and Resistance levels.
Time frame is the 5M
ditch all indicators, it will only slow you down. you only need 2 things to be successful:
- YOU
- The Price

Lets share some real trades and its targets!


10 MAY 2012 Update:

A few modifications in my original method:

- the Trix indicator is gone. I don't need lagging indicators to trade. Price Action should be enough. Almost naked trading is what i want to achieve in my journal;
- Before i take an hammer to trade i will wait for the next candle to confirm the hammer direction. I need momentum with the hammer. Still struggling if a new High/Low is enough or wait for candle close.
- Will use only 5 min timeframe.
- No more dollars in my journal. pips is all i am going to talk about;
- The Risk:Reward must change: so far the SL was the hammer high or low ant the target profit only 6 pips. From now on the target will be equal to SL +1. At least i want a 1:1 RR.

---- Original Post ----


This is going to be my journal.

The experience is very simple!!:

Start Day : 27 Fev 2012
End Day: When reached 100% profit
Starting Capital: 50 dollars
Currencys that will be traded: EUR/USD | AUS/USD | GBP/USD | EUR/JPY
TimeFrames: 5M and 15M
Method: Scalping
Lot Size: micro 0.1

This journal will end when i reach 0 dollars or 100 dollars. It will be real live trading, i will post trades on real time always with a picture, where i will include my target, stop losses, and reasons to enter the trade.

The first post will have an updated view of my current Balance.

Last:
Why this journal? Because i believe i have found a great trading method, but i suffer from one of the mistakes that makes every trader fail. My lack of discipline is brutal. I know this, and i want to control it, but it is very very hard.

Let the games begin!!
Current Balance: 64 dollars
Trades made: 9
Sucess trades: 6
% winner trades: 66,6%

Wish you good luck in your endeavour! One of the great ways to become disciplined is to know that the world will see your mistakes through the journal. Mistakes apart, would you like to share your "great trading method" on this thread?

LEts see how it goes

EDIT:
Well That was Fast. 6 dollars stop loss.
TRIX was not good. damn discipline!!!!

Lets see. I need a profit !!!

Well we had a profit!! YEs!!!

The balance is 50 dollars again!!
6 dollars profit.

Stop Loss was not hit by 1 pip! Talk about a miracle here. ehehe

There are only one or two great setups a day.

I have a lack of confidence right now, and the discipline problem is here also. My dark passenger discipline. Lets wait for next setup.

$6 loss represtents >10% of $50. With this money management you will be at zero in a hurry.

Yes with $50 OP should be trading 0.01 lot size but as a spectator I'm part rooting for the OP in spite of the odds, while part of me is here to watch a train wreck. Best of luck!

Hi Winston Reed,

Thanks for your comment.
Indeed, you are 100% right. The low initial capital is the bigger risk (discipline aside) of this experiment. But i don't have more risk capital to loose. In order to have a loss less than 10% i would need more money. And i can't afford that right now.

On my side i have the odds that 80% of the trades end up well. So, i am putting a lot of credit on my winner trades to balance the money management.

SC.

lol FXEZ thanks for the vote of confidence

lets see if i can at least get to 50% profit before my greed and overtrading kills my account!

Trading rules are really easy. Right now i should be only following the 'pure' setup . The pure ones are the setups that odds favor a 90% winner trade. But i dont want to wait too much, and that is another common mistake. (just like the 1st trade, where trix was a NO GO!!)

Its all there in the picture.
Only risk is FED press conference right now.

Well 3rd trade was a success!

The account grows another 6 dollars. (the target was lower, but for now i use a fixed 6 dollars profit).

Fast just the way i like it.

Only two things were missing to this setup in order to be a 'pure' setup:
1) the inverted hammers needed to be in a Pivot Zone (R1,R2..)
2) inverted hammer fully outside the Bollinger Band.

In order to avoid the lack of discipline and overtrading, we close the day, since we have our daily profit.

Been waiting for the setup. If the S1 is broken, we can have more than 6 dollars profit.

And we have another winner.

I feel my confidence getting back. It's when I make more mistakes. Going to take the rest of day off to cool down.

The account grows another 6 dollars, we must keep the discipline.
The success trade rate also increases

Nice, sure take a day off but remember, grunt work pays off in the end and good luck!

Thank You Forexnuts!

Since i have a few winner trades, i guess i can lower my requisites for a trade setup in order to get to the 100 $ goal faster I shouldn't, but hey, what's the fun if we don't try right?

Trading should be :
Fun
Low Risk
Minimum Stress

I do not see why not and seeing how the markets are closed at the moment, will look forward to your Monday Update, let us know how it pans out!
Have a great weekend!

hi do can share template?tanx

Well Thank you again.

Already missed a setup in EUR_USD. Did not take the trade because the price was ' in no mans land'. i got scared.

Well, lets wait for another setup.

PS: Friday were no setups to trade. At least good ones

Hi metal2007.

Yes i can share my template if you want it.
I work with:
- Clock indi to know when the candle hammer will be complete;
- Pivot points daily
- trix indi
- and my EA that does not make trades. i enter trades manually. The bot only helps me identify the hammers in the several pairs. This EA i will not share for now, because it is not complete.

Lets see how this trade works out.