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Daytrading/scalping with high leverage - my proven strategy

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  • #261
  • Mar 14, 2013 9:21am Mar 14, 2013 9:21am
DNA what tp are you using these days? Can always see more than 3.3 pips . Cheers
  • #262
  • Edited 9:43am Mar 14, 2013 9:22am | Edited 9:43am
919gilead, you mentioned your S/L, what is your T/P.

Can you please post your template?
  • #263
  • Mar 14, 2013 9:38am Mar 14, 2013 9:38am
Quoting normtold
919gilead, you mentioned your S/L, what is your T/P.

Can you please post your template and currency strength meter?
Just like DNA, I look for a 20+ pips but don't take profit at particular levels and only move my stop from the channels created by the RN or PPT or SR levels.

You can use any currency strength meter - just search for it on either Forex Factory or google. This is the linear one I use - I select all for the currencies and change the settings for M5 to 3 & 25.

Cheers,

George
Low Risk Low Stress High Reward High Probability Trades
  • #264
  • Mar 14, 2013 9:47am Mar 14, 2013 9:47am
I understood DNA is looking for between 5.8 and 10.8 on the demo account and 2.5 net in the real account.

Thanks for the meter.
  • #265
  • Mar 14, 2013 9:57am Mar 14, 2013 9:57am
919gilead, why do you use a 72ema low? This is kind of unsymmetric if you know what I mean. The 72ema(low) is always below the 72ema(close) and for a long trade price has to pass less distance than for a short trade.

For me it would make sense if you would use either a 72ema applied to close or a channel of 72ema low/high that has to be crossed.
  • #266
  • Mar 14, 2013 10:19am Mar 14, 2013 10:19am
Quoting 919gilead
Just my 2 cents to repay the so many lessons I learnt on Forex Factory as I have been unable to make serious contribution on threads that have greatly enriched me as originators of such threads mostly insist on showcasing their approved indicators.
George, that's one hell of a post! Believe me, this one post is worth much more than most of the full-length FF threads!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #267
  • Mar 14, 2013 10:25am Mar 14, 2013 10:25am
Quoting Olarion1975
919gilead, why do you use a 72ema low? This is kind of unsymmetric if you know what I mean. The 72ema(low) is always below the 72ema(close) and for a long trade price has to pass less distance than for a short trade.

For me it would make sense if you would use either a 72ema applied to close or a channel of 72ema low/high that has to be crossed.
Very true Olarion, using the 72MA of low is unsymmetric and that's what makes the difference in trading for me. I don't want to use what everybody is using, otherwise we'll all be doing the same thing. I therefore always make few alterations to make my entry different from the crowd. So no special reason as I played with the channel of low/high, then the close and I found the low best for what I was doing.

Cheers,

George
Low Risk Low Stress High Reward High Probability Trades
  • #268
  • Mar 14, 2013 10:27am Mar 14, 2013 10:27am
See attached chart of GU trade, and chart speaks for itself
Attached Image (click to enlarge)
Click to Enlarge Name: gu trade setup - 3142013.gif Size: 103 KB
Low Risk Low Stress High Reward High Probability Trades
  • #269
  • Mar 14, 2013 10:31am Mar 14, 2013 10:31am
Quoting Favorite
George, that's one hell of a post! Believe me, this one post is worth much more than most of the full-length FF threads!
Thank you, and thanks for the voucher. I did not even notice it until I initially replied you.
Low Risk Low Stress High Reward High Probability Trades
  • #270
  • Mar 14, 2013 10:39am Mar 14, 2013 10:39am
Quoting 919gilead
Thank you, and thanks for the voucher. I did not even notice it until I initially replied you.
hey friends,
what are those voucher?

ehy, i've read!

many thanks!
  • #271
  • Mar 14, 2013 10:58am Mar 14, 2013 10:58am
Quoting 919gilead
See attached chart of GU trade, and chart speaks for itself
hi George, that's a very interesting looking chart! have you got a link or can you post the indicator at the bottom showing the currency strengths?

mr dna, i saw you were down over $600 on the latest EJ trade, have you tried to tighten the stop loss to say 20-30 pips?

thanks!
  • #272
  • Mar 14, 2013 11:07am Mar 14, 2013 11:07am
Quoting jonnypants
hi George, that's a very interesting looking chart! have you got a link or can you post the indicator at the bottom showing the currency strengths?

mr dna, i saw you were down over $600 on the latest EJ trade, have you tried to tighten the stop loss to say 20-30 pips?

thanks!
I already did in http://www.forexfactory.com/showthre...02#post6515302 but here you go again but it is called the Ultimate Filter, and does not look like mine as I tampered with it, which is why I can't post mine but already explained what you need to do in post 263.

Cheers,

George
Low Risk Low Stress High Reward High Probability Trades
  • #273
  • Mar 14, 2013 11:09am Mar 14, 2013 11:09am
My EU trades - closed short and in long trade.

And less I forget to also mention that I close trades not moving within 30 - 60 minutes of the trade if I am unable to move stop to break even, as the edge or advantage I am looking for in the trade to give the momentum for the trade to run is no longer there.

Done for the day and see you folks some other time.

Ciao


George
Attached Image (click to enlarge)
Click to Enlarge Name: eu trade setups - 3142013.gif Size: 89 KB
Low Risk Low Stress High Reward High Probability Trades
  • #274
  • Mar 14, 2013 11:19am Mar 14, 2013 11:19am
Quoting 919gilead
I already did in http://www.forexfactory.com/showthre...02#post6515302 but here you go again but it is called the Ultimate Filter, and does not look like mine as I tampered with it, which is why I can't post mine but already explained what you need to do in post 263.

Cheers,

George
thanks for that!
just for clarification:
say trading GU long then red above the 0 line and white below (opposite for short)
for EU light blue above the white (again opposite short)
PS Sorry I'm a bit colorblind!!!
  • #275
  • Mar 14, 2013 11:30am Mar 14, 2013 11:30am
Quoting jonnypants
thanks for that!
just for clarification:
say trading GU long then red above the 0 line and white below (opposite for short)
for EU light blue above the white (again opposite short)
PS Sorry I'm a bit colorblind!!!
Yes Jonny but those are the colors I allocated the currencies, and you can always use your preferred colors. Strong above the zero line, and weak below. I also double the Line Thickness, so the currencies constituting the pair I am trading can be distinct from the others.

Thanks

George
Low Risk Low Stress High Reward High Probability Trades
  • #276
  • Mar 14, 2013 12:07pm Mar 14, 2013 12:07pm
Quoting 919gilead
My EU trades - closed short and in long trade.

And less I forget to also mention that I close trades not moving within 30 - 60 minutes of the trade if I am unable to move stop to break even, as the edge or advantage I am looking for in the trade to give the momentum for the trade to run is no longer there.

Done for the day and see you folks some other time.

Ciao


George

EU just hit 3030 and this is why I don't have fixed PT and we should just move stop within the Round Number channels or Pivot Point or Support/Resistance levels, and give the market space to move, especially when the risk has been taken out of the trade.
Low Risk Low Stress High Reward High Probability Trades
  • #277
  • Mar 14, 2013 12:12pm Mar 14, 2013 12:12pm
Quoting dnabrasil
hey friends,
what are those voucher?

hey, i've read!

many thanks!
Quoting 919gilead
Thank you, and thanks for the voucher.
Guys, you're welcome!

We, the smart traders, have to support each other!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #278
  • Mar 14, 2013 12:25pm Mar 14, 2013 12:25pm
Quoting 919gilead
EU just hit 3030 and this is why I don't have fixed PT and we should just move stop within the Round Number channels or Pivot Point or Support/Resistance levels, and give the market space to move, especially when the risk has been taken out of the trade.
Wow what a come back for the Euro!!!
I'm liking the cut of your jib sir; congratulations!

Quoting Favorite
Guys, you're welcome!

We, the smart traders, have to support each other!
and I must say you look very smart too mr sailor!

keep up the good work chaps.....
  • #279
  • Mar 14, 2013 12:50pm Mar 14, 2013 12:50pm
Quoting jonnypants
and I must say you look very smart too mr sailor!
I know, I know!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #280
  • Mar 14, 2013 1:47pm Mar 14, 2013 1:47pm
Quoting 919gilead
I already did in http://www.forexfactory.com/showthre...02#post6515302 but here you go again but it is called the Ultimate Filter, and does not look like mine as I tampered with it, which is why I can't post mine but already explained what you need to do in post 263.

Cheers,

George
Hi, can you please check the link, the one you posted is for a stochastic indicator, not a currency strength meter.

thanks.
Steve.
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