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Daytrading/scalping with high leverage - my proven strategy

  • Linked: 1 Lot - 1.000 $ | Brokerage Account XXX82
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  • #41
  • Mar 9, 2013 8:58am Mar 9, 2013 8:58am
Quoting dnabrasil
infact!

i didn't see it was december at first time i watch!!


but the reason is the same, even if it wasn't nfp, because of when a large movement in one minute or 2 appears, i'll stay away.
i'm here to make $$, not to demonstarte something to the market!

as i said before the system is not important:

try to attach a 20 ema channel to a H1 TF and trade with 5 pips TP using price action...




i do not get this system at all. are you serious ? is it a joke , are you joking !!??

this is a very dangerous approach.

you are aiming for 2.5 pips profit. what if your 2.5 pips doesnt come about, market reverses and loses you say -10 or -30 pips. do you still wait for your trade to come to profit of 2.5 pips, whilst holding onto a ,losing position ? at what point do you decide to close the trade, if your 100 sl is not hit, and you are also not in profit ?


it only takes just 1 or 2 trades to go against you in the week, then you are back to zero. and it doesnt have to hit your 100 pip sl.

example: monday win 5 pip
tuesday win 5 pip
wednesday win 5 pip
thursday win 5 pip

friday - enter trade. price reverses before reaching tp of 2.5 pips. you hold on, hoping it will eventually reach your tp of 2.5. pips . at the end of the day you decide to close it for a loss of -30 pips. you now are down -10 pips in that week. havent made any 'bucks' at all.

you now have to make sure you do not have a single loss the following week just to come out on top, which given the r:r cannot be guaranteed. and god forbid if your sl of 100 pips is hit - you are in big trouble.

your approach is fundamentally flawed and i suggest you get your mental rationality in place. because it will have a negative impact on newbies and all who follow this approach.


the better way to trade would be to have a tight stop and ride on your winnings. good way to make money in forex. trust me, as they say in hollywood.


  • #42
  • Edited 9:44am Mar 9, 2013 9:29am | Edited 9:44am
I think many traders here do not understand what dnabrasil strategy is. So everyone here please check in previous page properly to understand him. He does know would burn his money, but this is not the point. And It doesn't so important about the system is good or not.

Hi dnabrasil, I would suggest you scalp at support and resistance or off trading hour. Probability would be much higher for consecutive trades. I am looking forward to your thread to see something different, either is ideas or concept.

Thanks.
  • #43
  • Mar 9, 2013 9:47am Mar 9, 2013 9:47am
He is a pro trader.He has studied for years and this is the end result.

Im amazed this is working for him.Good for him.

This is like martingale.Horrible.How can you sleep.
  • #44
  • Mar 9, 2013 10:20am Mar 9, 2013 10:20am
Quoting ~bull.bear~
Hi dnabrasil, I would suggest you scalp at support and resistance or off trading hour. Probability would be much higher for consecutive trades. I am looking forward to your thread to see something different, either is ideas or concept.
He's trading noise the entry point is totally irrelevant. Almost all the candles have a wick both size. The problem is the "almost".

He says he trades 1 lot per $1000. That's $10 per pips. Even if the margin required was zero a 100 SL wipes the account. For the winning side, 40 winners will double the account since he makes $1000 for each $1000. So at the end of the month either you doubled or you broke. Because the probability of success is not 100%, it will always come a point where he loses everything he accumulated so far any high he could have been. Kind of reverse martingale.

Now you could argue that he can keep money on a bank account or reduce the leverage... That's an illusion! MM is never the edge.

With a TP of 10 pips net he would still need 90.9% winners to BE.
No greed. No fear. Just maths.
  • #45
  • Edited 10:56am Mar 9, 2013 10:40am | Edited 10:56am
Quoting PipMeUp
He's trading noise the entry point is totally irrelevant. Almost all the candles have a wick both size. The problem is the "almost".

He says he trades 1 lot per $1000. That's $10 per pips. Even if the margin required was zero a 100 SL wipes the account. For the winning side, 40 winners will double the account since he makes $1000 for each $1000. So at the end of the month either you doubled or you broke. Because the probability of success is not 100%, it will always come a point where he loses everything he accumulated so far any high he could...
Simple saying, he is gambling. He is just trying to catch some urgent money for some purpose, maybe for other better investment products. The point is scalping would make consecutive win, although it will burn his account one day. But does he care? Provided if he is lucky in early trades.

From his method, I have some idea, why don't do this at high probability scenario, maybe at news moment, wave, or chart patterns, whatever, with acquire a reasonable high leverage value.

edit: Gambling in forex is much much better than casino. I have heard some people earn monthly income from casino without greedy.
  • #46
  • Mar 9, 2013 11:29am Mar 9, 2013 11:29am
Quoting mario777
cr8or, may I know what strategy are you using? Do you want to share with us?Thanks!
The only strategy is excellent MM, nothing else. Tight SL and modest TP. As I wrote earlier I never limit my TP only SL. Regarding trade strategy, I hove no magic system! "Trade what I see not what I think". Scalping is the fastest way and I do a lot of scalping. Since I never trade less than 1 lot scalping provides me fast, less risky trades.

On long lasting trends I use to trade counter trend. One simple reason: I don't know how long trend will last. I also hunt CZ's and trade breakouts. On sideway markets or ranging markets I trade the swings. Every approach according to market behavior.

The point is not to get stuck in loosing trades with wide SL. Even than with hedging you can keep your head above the water and not drown yourself. SL is your guardian angel. Never wait to reverse your loosing trade, end it, lick your wounds, and hunt a wining trade to cover your loss.

There are certainly traders who will not agree with me, than again, everybody has to find his own path to success.
NO PAIN NO GAIN
  • #47
  • Mar 9, 2013 11:42am Mar 9, 2013 11:42am
I agree that's gambling. I have nothing against the idea of a "Forex casino". The problem is that he said in post#1 "i trade for a living, now, after years of paradise and hell..." A pro gambler puts odds he side. He counts the cards he doesn't play Roulette or slot machines. The 100 SL seem statistically valid. But the 2.5 pips TP I don't get it. I'm sure he will get more than 2% losers.

For a high probability scenario I would avoid news time. I think a scalping system is better in Asian session. You don't want volatility. If a sudden move goes in your direction, you close for only 3 pips. You don't profit of the nice moves but you suffer hard of them when they go against your position. That's the problem with any system having a R:R way below 1.
No greed. No fear. Just maths.
  • #48
  • Mar 9, 2013 6:10pm Mar 9, 2013 6:10pm
which brokers would be suitable for this type of trading?
  • #49
  • Mar 10, 2013 5:37pm Mar 10, 2013 5:37pm
I think this is the exact opposite of the traditional idea, "let your winners run and stop the losing trades."
  • #50
  • Mar 11, 2013 12:42am Mar 11, 2013 12:42am
I thought the forum creator day trade for a living? His account says demo... Did the real live account got liquidated already?
  • #51
  • Mar 11, 2013 12:56am Mar 11, 2013 12:56am
Without an edge, the spreads will kill this strategy in the long run since the spreads can make up 40% of the profits.
  • #52
  • Mar 11, 2013 1:04am Mar 11, 2013 1:04am
Quoting pphuong
Without an edge, the spreads will kill this strategy in the long run since the spreads can make up 40% of the profits.
Hes taking the spread and commission into account thats why he goes for 3.3 pips so its already counted in it.
  • #53
  • Mar 11, 2013 1:05am Mar 11, 2013 1:05am
Quoting maflip
I thought the forum creator day trade for a living? His account says demo... Did the real live account got liquidated already?
Hes probably just showing the trades on a demo if you notice he is also on that account taking far more than 2 a day which is what he says he does on his live account.
  • #54
  • Edited 1:55am Mar 11, 2013 1:36am | Edited 1:55am
Quoting lastingwell
Hes taking the spread and commission into account thats why he goes for 3.3 pips so its already counted in it.
I know that. If he's using 2.5 pips as the target net profit, then using a small spread of 0.8-1.5 pips, then 0.8 pips / 3.3 pips is is ~24% of that net profit, while a spread of 1.5 pips is 37.5% (1.5/(1.5+2.5)). This is highly unfavourable for the trader if the trader has not developed a strategic edge, since the spread is the broker's edge.
  • #55
  • Mar 11, 2013 2:14am Mar 11, 2013 2:14am
Quoting pickers
which brokers would be suitable for this type of trading?
After a extensive broker research I found Admiral Markets the best. Very low spreads, broker commission 4EUR per lot per trade. Funding, withdrawing very professional and fast. They charge a 15EUR withdraw fee regardless of amount. The nice thing is that taxes are incredible low in Estonia although they are in the EU which makes them even more attractive.
NO PAIN NO GAIN
  • #56
  • Mar 11, 2013 2:31am Mar 11, 2013 2:31am
Quoting pphuong
I know that. If he's using 2.5 pips as the target net profit, then using a small spread of 0.8-1.5 pips, then 0.8 pips / 3.3 pips is is ~24% of that net profit, while a spread of 1.5 pips is 37.5% (1.5/(1.5+2.5)). This is highly unfavourable for the trader if the trader has not developed a strategic edge, since the spread is the broker's edge.
Ive never understood that way of thinking I dont care what percentage I have to pay if I end up with profit its still profit and my balance goes up. I dont condone this way of trading at all....just saying.
  • #57
  • Mar 11, 2013 2:59am Mar 11, 2013 2:59am
Quoting lastingwell
Ive never understood that way of thinking I dont care what percentage I have to pay if I end up with profit its still profit and my balance goes up. I dont condone this way of trading at all....just saying.
Well, percentage is the measurement of success. I agree with you, who cares about percentage, all that matters is profit and every trade resulting in profit is a good one, but percentage helps to keep or boost your confidence in your trading strategy.

If my strategy results in a 10% monthly boost on my account I'll say its successful. 10% on a 50k account is 5k profit. Good numbers, aren't they? However, 10% on a 1k account results in 100$ which is good either but doesn't look by far as good like the above mentioned.

With recent incredible PA on EURJPY I managed to profit 600% which is a fantastic achievement but doesn't occur often.

I'll write again and again, don't limit your profits only losses. Keeping losses small and profits big is the essence of trading whatever strategy you use. Every strategy that performs in that way is a good one.
NO PAIN NO GAIN
  • #58
  • Mar 11, 2013 5:32am Mar 11, 2013 5:32am
Quoting cr8or
Well, percentage is the measurement of success. I agree with you, who cares about percentage, all that matters is profit and every trade resulting in profit is a good one, but percentage helps to keep or boost your confidence in your trading strategy.

If my strategy results in a 10% monthly boost on my account I'll say its successful. 10% on a 50k account is 5k profit. Good numbers, aren't they? However, 10% on a 1k account results in 100$ which is good either but doesn't look by far as good like the above mentioned.

With recent incredible PA...
Totally agree about percentage of the account you make, but I never worry about how much of a percentage the spread is compared to my profit which is what the poster was saying.
  • #59
  • Mar 11, 2013 5:40am Mar 11, 2013 5:40am
morning to all

i read all of your comment, and i'd like to thank you all!


i know many people don't think like me, but hey, this is normal!!

here i'm trying to give away my little knowledge, i do not want to change peoples mind.

in my real account i trade with various crosses, and other time frame, like h1 and 30m, with higher TP, like 10 pips..

this morning there were 2 good 10 pips profit trades,

gbpaud at 12.00 gmt+3 short and gbpusd at 13.00 gmt+3 short
20 pips total: 20% of the account - if i'm looking for 100% monthly......
  • #60
  • Mar 11, 2013 5:53am Mar 11, 2013 5:53am
just ended another trade:

gbpjpy short at 13.30 gmt+3, 10 pips tp hit

30 pips today,

with a 10k$ account is 3.000$, isn't enough for this week? or for this month...

it depends on you and your greed
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