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Daytrading/scalping with high leverage - my proven strategy

  • Linked: 1 Lot - 1.000 $ | Brokerage Account XXX82
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  • #61
  • Mar 11, 2013 5:57am Mar 11, 2013 5:57am
Quoting dnabrasil
how many money do you need to live well?
every month?
well, i go for it and dont trade till next month!

i know is difficult to understand:

i played with it many years before understand what is so simple..

i do not need to demonstrate to the market that i'm the best, that my system is the best,

simply i need to catch some money...

years ago i was looking for a system with all the cards right... but can't found it..
Somehow I think all of you got it very wrong. . . the 1:40 ratio is simply not existing in this MM method. There are only two options: ALL or NOTHING. Don't forget that even the profit you made up to the 39th trade were stacked up in just one aimless loss . . . This is heavy stuff.

Have you reasoned that you can be right for the entire trading days of a month and just the first Friday of the next month you lost every effort you invested if you forgot that NFP was just 3 minutes away ?

If the MM is the basis of this thread., then it has to be reworked in a way that 100% success is guaranteed because a single unbridled loss takes away everything.
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #62
  • Mar 11, 2013 6:06am Mar 11, 2013 6:06am
Quoting Precap2
Have you reasoned that you can be right for the entire trading days of a month and just the first Friday of the next month you lost every effort you invested if you forgot that NFP was just 3 minutes away ?
hey friend, if you do an error like this, i think you shouldn't trade real money...

if you don't remeber that in a trafficlight the red is to stop, you could die in a car accident, don't you?
  • #63
  • Mar 11, 2013 6:06am Mar 11, 2013 6:06am
Hi

The most important question i can think of is how many times in a year do you blow your account ? How many times have it happen before you could build it up again. Hope you understand my question. For example if it happen 10 days after your last blow up you had not have enoght winning trades to build up your account.

Best regards
  • #64
  • Mar 11, 2013 6:13am Mar 11, 2013 6:13am
food for thought:

if my grandmother had wheels, she would be a wheelbarrow..



if all of you are looking for a secure investments, well, don't trade currencies,
if you are looking for money, well, study a strategy and make money,
you should trade and make $, not only think that if i make 35 trades and i have a 45% of success, and if today is rainy or sunny... if, if, if...

i dont think that my method is the best,
i trade like this because i make money. and with this real money, i quitted my dayjob, and i have more time for my life and my faily..
you know, i'm becoming father in 5 days!!!!!!!!!
  • #65
  • Mar 11, 2013 6:20am Mar 11, 2013 6:20am
Quoting PipMeUp
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....
I don't think I read where this guy says he uses 100 pips SL, what I am certain I read is that he structures his lot size so that 100 pips takes down the account. But he said he never interfered with a losing trade, the account margin takes care of every eventuality. . . . That I don't really understand the wisdom of it.
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #66
  • Mar 11, 2013 6:33am Mar 11, 2013 6:33am
Hello dnabrasil and others. can you post some pic. of your trades ? You must have some decent method to place order with so much risk.
thx.
  • #67
  • Mar 11, 2013 6:41am Mar 11, 2013 6:41am
Quoting dnabrasil
hey friend, if you do an error like this, i think you shouldn't trade real money...

if you don't remeber that in a trafficlight the red is to stop, you could die in a car accident, don't you?
You're right that I shouldn't trade real money , but I have been doing so heedlessly for nearly a decade now. That's my error, I don't often take advice in good faith.

And come to think of it again I'm basically not a news trader, I didn't know that last Friday was NFP until Gold gave me more profit than I could handle within a short while. . . . Then I asked to know if the world was coming to an end. . . err. . . it wasn't, just the usual NFP thing. For me news is nuisance, I don't hope it's same for you because you are closer to Mr scalper
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #68
  • Mar 11, 2013 7:46am Mar 11, 2013 7:46am
Quoting Precap2
I don't think I read where this guy says he uses 100 pips SL
No he didn't say he uses 100 pips SL. He said he sizes the position so that -100 pips triggers a MC. Which to me sounds like the same. Almost...
I tried to see if ever there was something in the idea, assuming a more rational MM (thus the SL).
No greed. No fear. Just maths.
  • #69
  • Mar 11, 2013 10:23am Mar 11, 2013 10:23am
Quoting dnabrasil
food for thought:

if my grandmother had wheels, she would be a wheelbarrow..



if all of you are looking for a secure investments, well, don't trade currencies,
if you are looking for money, well, study a strategy and make money,
you should trade and make $, not only think that if i make 35 trades and i have a 45% of success, and if today is rainy or sunny... if, if, if...

i dont think that my method is the best,
i trade like this because i make money. and with this real money, i quitted my dayjob, and i have more time for my life...

Then you must be a good father and wife because you cherish your life. May i know your past profession?
  • #70
  • Mar 11, 2013 11:09am Mar 11, 2013 11:09am
the fact that people are still posting on this thread thinking there might be something good with his method, despite it is obvious it is nonsense, is the reason why 99% of traders fail.
  • #71
  • Mar 11, 2013 11:19am Mar 11, 2013 11:19am
Quoting ~bull.bear~
Then you must be a good father and wife because you cherish your life. May i know your past profession?
i will be husband...!!

i was a realtor, for 16 years
  • #72
  • Mar 11, 2013 11:34am Mar 11, 2013 11:34am
Quoting whatfx
the fact that people are still posting on this thread thinking there might be something good with his method, despite it is obvious it is nonsense, is the reason why 99% of traders fail.
I'm a strong believer of big RR is better than big win/loss... But I wanted to be open mind and go a little bit beyond the obvious so I had some fun with historical data... At best you can make a small pip per day in average. And immediately forget any kind of "1 pip x huge leverage = I'm rich". The drawdown would be crazy. At best an academic evidence that market is not efficient but no trading profit to be found here.
No greed. No fear. Just maths.
  • #73
  • Mar 11, 2013 12:40pm Mar 11, 2013 12:40pm
my friend, as i said, you shouldn't take care of the system,

because of your comments, i'm trying to use a bigger TP, like 10 pips, or even 50 pips moving stop to be after 10 pips.

i've started an account with 1.000$, and trade with same MM: 1 lot.

basically i trade following the 20 ema channel, a little bit of PA, some ideas of S&R even if i'm not a fun of it,
perhaps because i'm not able in drawing perfectly!


here the todays account.

if you have patience you could gain some bucks!


edit: last trade is counter trend... i don't like counter trend, but give it a try
  • #74
  • Mar 11, 2013 12:50pm Mar 11, 2013 12:50pm
What a farting little system
  • #75
  • Mar 11, 2013 1:04pm Mar 11, 2013 1:04pm
Quoting dnabrasil
because of your comments, i'm trying to use a bigger TP, like 10 pips, or even 50 pips moving stop to be after 10 pips.
Now that is better money management Good luck
  • #76
  • Mar 11, 2013 1:06pm Mar 11, 2013 1:06pm
Quoting Rille
What a farting little system
Hello Sweden. Please explain your use of 'farting.' I would like to use it at some point in the future.

ps. the 'system' is ridiculous. beyond the obvious flaws many have pointed out, logistically...who supports their family by trading a plan whose rules aren't heeded and can be adjusted based on some talking heads on the interwebs...i call false. if you believed in it enough to trust that it will provide for those dependent upon you, you'd believe in it enough to stick to it despite criticism.
It's a buy the dip scheme, ya feel me?
  • #77
  • Mar 11, 2013 1:20pm Mar 11, 2013 1:20pm
Quoting nightstocher
Hello Sweden. Please explain your use of 'farting.' I would like to use it at some point in the future.

ps. the 'system' is ridiculous. beyond the obvious flaws many have pointed out, logistically...who supports their family by trading a plan whose rules aren't heeded and can be adjusted based on some talking heads on the interwebs...i call false. if you believed in it enough to trust that it will provide for those dependent upon you, you'd believe in it enough to stick to it despite criticism.
Yes it is ridiculous but he is making a living trading.Very few are on this board

Im amazed this works for him.Well done.
  • #78
  • Mar 11, 2013 1:21pm Mar 11, 2013 1:21pm
Quoting nightstocher
Hello Sweden. Please explain your use of 'farting.' I would like to use it at some point in the future.

ps. the 'system' is ridiculous. beyond the obvious flaws many have pointed out, logistically...who supports their family by trading a plan whose rules aren't heeded and can be adjusted based on some talking heads on the interwebs...i call false. if you believed in it enough to trust that it will provide for those dependent upon you, you'd believe in it enough to stick to it despite criticism.
i think you didn't understand well, or perhaps because of my poor english, i'm not able in explaining well:

i do not change my 2.5 TP,
i decide to explore a new way (new for me) in order to look if i could gain more...

if this is the case, in future i will adopte this way.

but now, with the real account i trade the same way!
  • #79
  • Mar 11, 2013 1:23pm Mar 11, 2013 1:23pm
Quoting goose4
Yes it is ridiculous
often ridiculous doesn't mean bad
  • #80
  • Mar 11, 2013 1:57pm Mar 11, 2013 1:57pm
Quoting dnabrasil
my friend, as i said, you shouldn't take care of the system,

because of your comments, i'm trying to use a bigger TP, like 10 pips, or even 50 pips moving stop to be after 10 pips.

i've started an account with 1.000$, and trade with same MM: 1 lot.

basically i trade following the 20 ema channel, a little bit of PA, some ideas of S&R even if i'm not a fun of it,
perhaps because i'm not able in drawing perfectly!


here the todays account.

if you have patience you could...
This system basically trades noise so I didn't looks at the system at all. I took A/U M15 and ran a slidding window of 36 candles. That's 24h worth of PA. I just looked at "how much does the price go against me if the price closes my side in 24h". From this I can tell you that there is little improvement beyond 70 pips SL. From 70 to 100 the risk increases by almost 50% but the probability of winning doesn't increase that much. You can perfectly hit a 400 pip SL in a single day. It happenned 3 times in 4 days in Oct 2002. Now even if the day closes against your position you can close in profit with a 10 pips TP with a rather high probability. But you can take 3 losing days in a row quite easily. I tried TP=10, SL=70 which seem to be statistically an acceptable tradeoff. The result keeps very poor.

Don't be fooled by the 98.5% win rate you will get with a 5 pips TP. The other 1.5% are devastating! Without a minimal edge like following the daily trend that will fail for sure. If you do so you will usually open a trade in the same direction as the previous day and there is no point at closing to re-open the same. You could just trail a 70 pips SL... But your system just becomes a trend follower...
No greed. No fear. Just maths.
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