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GBP/JPY Scalpers

  • #21
  • Edited 4:01pm Apr 3, 2012 3:44pm | Edited 4:01pm
brain, lets do it again tonight when tokyo comes in - its pips - lots doesn't matter, its multiple orders - in mt4 each order yields its own pips (when opened and closed individually), some orders get paid for the same price movement - think about it!

Quoting scalperlamer
fk my brain - thousand of pips? ten x 100 pips? or its a mini account with 5 number, and it's only 100 pips? or what?
  • #22
  • Apr 3, 2012 3:57pm Apr 3, 2012 3:57pm
I got em for 90 pips on one order today, while I was away. While I am away is when I do my best work, if I was here today I would have screwed something up (I'm a terrible trader). MY TP is set when I set the entry order, SL's are set manually selectively (INTELLIGENTLY) after the order is filled.
Pip production is much like egg production.

Quoting Roofx
Do you have a fixed TP and SL for each position?
  • #23
  • Apr 4, 2012 8:36am Apr 4, 2012 8:36am
Things are looking scary now rmrf! -2000 pips and -600 loss on entire account since it's creation. I hope this is not truly a live account. This kind of trading is just a gamble. Luck is your only friend here. Good luck.
  • #24
  • Apr 4, 2012 9:14am Apr 4, 2012 9:14am
this is a live account as verified by FF and MB trading. DO you imagine that you can cheat FF and others by lying about your live trading results?!?

It is a fact, my trad explorer is a verified LIVE account as verified through the investor password, DOH! do you actually think users can fabricate the data on their live trade explorers?!?

Luck doesnt exist as commonly defined, sorry sir everything is: cause and effect, there never exists ONE WITHOUT THE OTHER and you cannot separate them, like the US gov did when thy took us off the gold standard, they separated the dollar from gold, the dollar is no longer asset backed it is phoney baloney promises to pay based on some imagined credit and or false illusion of ability to repay.

I've been trading all morning since before the GB 430am news. All is going as planned. And looking pretty good I think. Let me help you here make a few pips, GBP/JPY is heading back up into 133.00.

Quoting Roofx
Things are looking scary now rmrf! -2000 pips and -600 loss on entire account since it's creation. I hope this is not truly a live account. This kind of trading is just a gamble. Luck is your only friend here. Good luck.
  • #25
  • Apr 4, 2012 9:52am Apr 4, 2012 9:52am
Quoting rmrf

I've been trading all morning since before the GB 430am news. All is going as planned. And looking pretty good I think. Let me help you here make a few pips, GBP/JPY is heading back up into 133.00.
Is the plan to lose as many pips as possible? Because it's working out GREAT

Just kidding my friend. Hehe, I'm sure you know what you're trying to do and if it's live I hope it works out somehow! Maybe if you explained what you are trying to do this method wouldn't look like madness.
  • #26
  • Apr 4, 2012 10:06am Apr 4, 2012 10:06am
I havn't lost anything yet my friend, Its only a little drawdown, its part of the plan, I documnted the trading system as it developed over the 4 or 5 years, I dont know if it is still on FF somwhere. my previous username is rrram2 and it is now inactive but its posts should remein. I have only tweaking my trading system slightly to get where I am now.

I know it looks like spagetti, but I've done this hundreds of times, it works FF paints a weird picture with their trade explorer.

Quoting Roofx
Is the plan to lose as many pips as possible? Because it's working out GREAT

Just kidding my friend. Hehe, I'm sure you know what you're trying to do and if it's live I hope it works out somehow! Maybe if you explained what you are trying to do this method wouldn't look like madness.
  • #27
  • Apr 4, 2012 10:12am Apr 4, 2012 10:12am
Well thanks for going to the effort of sharing the fun for all to see and ponder over. Don't mind my jests, it's just that it does look a little mad on the surface. And maybe that's precisely why it just may work.

I will watch with interest and wish you the best in your efforts.
  • #28
  • Apr 4, 2012 10:32am Apr 4, 2012 10:32am
suddenly I am back up there for the year:
This Year
1.1%
its mad - foolproof but it does work, watch the banked pips thats the key. Old thread was somthing like GBP/JPY equity building strategies rrram2, thread starter, not much has changed that thread has gotta be 4 years old or so

Quoting Roofx
Well thanks for going to the effort of sharing the fun for all to see and ponder over. Don't mind my jests, it's just that it does look a little mad on the surface. And maybe that's precisely why it just may work.

I will watch with interest and wish you the best in your efforts.
  • #29
  • Apr 4, 2012 10:34am Apr 4, 2012 10:34am
and I'll ask Twee if it is still posted somewhere
  • #30
  • Apr 4, 2012 10:50am Apr 4, 2012 10:50am
I'm having trouble finding it.
  • #31
  • Apr 4, 2012 4:41pm Apr 4, 2012 4:41pm
we will see, I think people were either blowing their accounts up with my system or making millions - they may have had to delete it, its all in how you play it. People get upset when thy blow up huge accounts - me included. my new rule - do not under any circumstances use your broker as your stop loss order and blow up your whole account - seems to be holding, part of make sur this doesn't happn, I need to keep drawdown low and under control. Drawdown is profits paid for in advance. Think about it!
I am a scalper I am only making a small profit per trade averaging about 5 pips per trade, but I'm doing it dozens of times per day.

Here is a stat I will share with you from the mt4 detailed statement
this is figured by the mt4 software based on your position:

Maximal Drawdown: (0.08%)
Relative Drawdown: 0.08%

its insignificant - worry not about it -

also key is MB Trading that allows scalping and almost promotes it by allowing pending orders to be added with a 0 pip spread. every broker I ever used mt4 @ made you keep a 10 pip spread AWAY from market price on all pending orders entered. DO you see how a 0 pip spread gives me a SIGNIFICANT advantage? If not say so I will explain it in detail, think about it everyone else using mt4 has to enter or exit at market OR they can add a pending order but it has to be 10 pips away from market price. So they are stuck OUTside that 10 pip spread and I am NOT. Only a fool enters or exits at market, ask any pro. I am free to scalp someone for .2 pips AND get paid a commission, with pending orders with 0 pip spreads. Seriously I try to get at least 2 pips, but I have scalped gbp/jpy orders for .2 pips just to see if I could and MAKE a VERY small profit. I gotta get 2 pips or it isn't worth my trouble, a scalper has to have his limits and stick to them.

Quoting Roofx
I'm having trouble finding it.
  • #32
  • Apr 4, 2012 6:25pm Apr 4, 2012 6:25pm
http://www.forexfactory.com/rmrf#93-...y,balance/days

Looking at this chart, does it appear to you that I need to be worried? Have you noticed the dark blue shaded area?
  • #33
  • Apr 4, 2012 7:34pm Apr 4, 2012 7:34pm
gonna scalp a few orders and then I'm off to bed
  • #34
  • Apr 5, 2012 7:08am Apr 5, 2012 7:08am
Quoting rmrf
I am free to scalp someone for .2 pips AND get paid a commission, with pending orders with 0 pip spreads.
I'm not sure I understand how you are able to scalp for 0.2 pips and pay no spread on the trade at all.
  • #35
  • Apr 5, 2012 8:49am Apr 5, 2012 8:49am
but it can be done. I pay a minimal spread, but I am able to manipulate the spread inside that 10 pip range where mostly only MB clients are able to enter pending orders with entry and exit setting up a scalp (NOT AT MARKET PRICES). By allowing me to add orders (pending ) INSIDE that 10 pip spread, actually technically makes me a market maker inside a 10 pip spread whre 80%+ of traders cannot trade (EXCEPT AT MARKET)(WHICH DOES NOT PAY A COMMISSION)

Listen if Guppy is @ market @ 130.05 and I see it is heading down, I will enter an pending order to get long @ 130.04 ( I get paid a commission for this) Then ATTACHED to that order I add a TPT at 130.06, that is also a commissionable event. as soon as I submit the order, with in a split second it is accepted, then in another split second guppy bounces down to 130.04 and another split second it bounces to 130.06 and closes my order, I collect 2 pips and a commission for both entry and exit. And as far as I know only one allowing this and welcoming scalpers is MB trading. If you have more specific questions aBOUT HOW mb OPERATES, go to th FF official MB Trading thrad and ask Justin your detailed questions about how MB Trading gives a distinct EDGE to all their PFL MT4 Traders (clients). I could not do this with any other broker I know of. PFL is Pay for Limits, this requires you to pay a commission OR if you are SMART INSTEAD you take advanatge of this and USE it to COLLECT a commission, and with PFL you get the tightest spread ( WITH NO MARKUP AS ordrs at market charg a commission and orders enter in advance as pending PAY a commission when filled AT ENTRY (limit) AND EXIT (TPT)

Quoting Roofx
I'm not sure I understand how you are able to scalp for 0.2 pips and pay no spread on the trade at all.
  • #36
  • Apr 5, 2012 9:36am Apr 5, 2012 9:36am
I scalped a few of these today, I knew it was heading back up. I am just ignorant for not holding it for some real pips, Look at thE 4H and sEE thE CANDLESTICK SCREAMING revrsAL. i ALSO SCALPED A FeW Eur/jpy. The AJ is getting more movment than the GJ
  • #37
  • Apr 6, 2012 3:34pm Apr 6, 2012 3:34pm
i think scalping with GJ is not good if just for 10 pips because the spread is to large (7 pips in my broker) why not try EJ its (3 pips spread) and have similarity range moving like GJ
  • #38
  • Apr 7, 2012 3:39am Apr 7, 2012 3:39am
Man, I cant stop checking you're thread, I feel bad, because of the FIFO rule you cant close your newer trades without closing the old ones and theres no hedging so you also cant minimize your losses, someone has to change the rules back to where it used to be.
  • #39
  • Apr 7, 2012 9:53am Apr 7, 2012 9:53am
Quoting mrroboto
Man, I cant stop checking you're thread, I feel bad, because of the FIFO rule you cant close your newer trades without closing the old ones and theres no hedging so you also cant minimize your losses, someone has to change the rules back to where it used to be.
The way around that is changing up order size.

In Oanda I do that with my orders (not that I've been in a ton of trades at once on the same pair) but I'll do 50k units, then next will be a 50,013, or a 51020. I just use random numbers in order to close them out without that rule. But if you go in 50k, then avg down with 50k, you have to close the first order first.
  • #40
  • Apr 7, 2012 4:46pm Apr 7, 2012 4:46pm
-4,000 pips....ouch. This is madness. At what point do you stop hoping the market will turn around? When your account has blown? Anyone on earth can keep averaging down until they either get back into profit or their account blows. It's called gambling.
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