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Daytrading/scalping with high leverage - my proven strategy

  • Linked: 1 Lot - 1.000 $ | Brokerage Account XXX82
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  • #301
  • Mar 15, 2013 5:02am Mar 15, 2013 5:02am
Quoting dnabrasil
who knows, maybe on monday I'll be dad!..... i'm waiting for my 1st daugther
Hey congrats DNA. Praying for your family
Low Risk Low Stress High Reward High Probability Trades
  • #302
  • Mar 15, 2013 5:15am Mar 15, 2013 5:15am
Quoting Eur Usd
as about your method - why won't you show us your live account? you don't have to show your account balance, just pips gained and percentage
That's really funny!

Eur Usd, your own Trade Explorer shows Demo account, and that's OK. But DNA's Demo account is not OK?
Gentlemen always play by the rules. If they can't, they change the rules.
  • #303
  • Mar 15, 2013 5:24am Mar 15, 2013 5:24am
Quoting Favorite
That's really funny!

Eur Usd, your own Trade Explorer shows Demo account, and that's OK. But DNA's Demo account is not OK?

but I am not saying that I am full time trader with good profitable system am I?
On my way to financial independence - if others can do it - I can do it
  • #304
  • Mar 15, 2013 5:25am Mar 15, 2013 5:25am
Quoting Eur Usd
I've seen many methods like this one and after high climb there is a fast fall down, I can see here it is the same. 2 more bad bets and account is clear. you may do 10000000000% profit and all you need to wipe the account is 100% down.
Looks interesting on the beginning and then it's like jumping off the cliff.

Nothing wrong with the way he trades as long as he scalps on pullbacks in the direction of the trend. CT trades should always be taken with very tight stops. I take CT trades too when price fails at S/R levels but I want to be sure it's a strong S/R level with the Matrix + Stochastic agreement and possible divergence, as my MAs & LCSM are not useful when taking CT trades.
Low Risk Low Stress High Reward High Probability Trades
  • #305
  • Mar 15, 2013 5:30am Mar 15, 2013 5:30am
Quoting Eur Usd
but I am not saying that I am full time trader with good profitable system am I?
Hey Eur_Usd,

Let's leave DNA alone as it takes guts to display his skills in the open, whether with a demo or live account. Let's make some constructive and positive contribution and see how we can improve his method if we like what he is doing. I am not against constructive and positive criticism as long as it will improve what we are all doing. Let's make

Good trading

George
Low Risk Low Stress High Reward High Probability Trades
  • #306
  • Mar 15, 2013 5:31am Mar 15, 2013 5:31am
Quoting 919gilead
Nothing wrong with the way he trades as long as he scalps on pullbacks in the direction of the trend.
I agree, but yesterday his profit was 200% today is less than 100% and going towards a loose as he has no s/l. I was trading without s/l - it gives nice profits, but some day changes into one huge loss
On my way to financial independence - if others can do it - I can do it
  • #307
  • Mar 15, 2013 5:33am Mar 15, 2013 5:33am
Quoting 919gilead
Hey Eur_Usd,

Let's leave DNA alone as it takes guts to display his skills in the open, whether with a demo or live account. Let's make some constructive and positive contribution and see how we can improve his method if we like what he is doing. I am not against constructive and positive criticism as long as it will improve what we are all doing. Let's make

Good trading

George
you're right, I just don't like when somebody says that no s/l is a good method (newbies are reading it as well) - It works sometimes but disappointment comes sooner or later
On my way to financial independence - if others can do it - I can do it
  • #308
  • Mar 15, 2013 5:34am Mar 15, 2013 5:34am
Quoting Eur Usd
but I am not saying that I am full time trader with good profitable system am I?
And the professional full-time trader has even more reasons not to show his live accounts. A smart professional would never show neither his accounts nor his statements because it's nobody else's business.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #309
  • Mar 15, 2013 5:37am Mar 15, 2013 5:37am
Quoting Favorite
And the professional full-time trader has even more reasons not to show his live accounts. A smart professional would never show neither his accounts nor his statements because it's nobody else's business.

I agree, but to say it is profitable you need proofs. the only proof I see is that the guy is loosing 50% within less than 24hrs and says it is a good system
won't post here anymore ;-) so enjoy the show
have a nice weekend guys
On my way to financial independence - if others can do it - I can do it
  • #310
  • Mar 15, 2013 5:38am Mar 15, 2013 5:38am
Quoting Eur Usd
I agree, but yesterday his profit was 200% today is less than 100% and going towards a loose as he has no s/l. I was trading without s/l - it gives nice profits, but some day changes into one huge loss
And that's why I posted my own system in case he can pick one or two things to help filter out the bad trades. We all learn from each other
Low Risk Low Stress High Reward High Probability Trades
  • #311
  • Mar 15, 2013 5:41am Mar 15, 2013 5:41am
Quoting Favorite
And the professional full-time trader has even more reasons not to show his live accounts. A smart professional would never show neither his accounts nor his statements because it's nobody else's business.
That's right....and I get tired of people demanding to see my live account or statement. People can believe whatever they want.....for instance, people might ask how much is your salary/wages?......and you might reply (say) $75k/year. I have never met anyone ever that has said 'oh yeah?......show your bank account and pay slip/invoice.' People believe me or they don't, either way, I am under no obligation to show anyone my private business......and neither is the OP of this thread.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #312
  • Mar 15, 2013 5:43am Mar 15, 2013 5:43am
Quoting Eur Usd
won't post here anymore ;-)
I really hope so. If I were DNA I would ban you from the thread after your second post. We have thousands of the threads that have no value at all and nobody cares that "the newbies can get hurt", but when the topicstarter really knows what he's doing and what he's talking about he has dozens trolls in no time.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #313
  • Mar 15, 2013 5:48am Mar 15, 2013 5:48am
Quoting dnabrasil
i'm playing with gil's LCSM,

i think it is very good!

this morning i made a lot of trades..

this LCSM can help a lot, using 5 minutes you could trade for a bigger TP, but you should lower the leverage, and trade a traditional way of MM, i.e. 2% risk per trade...


on 1M TF i use it with my strategy MM, and point to 10 pips per day, that is 50% per week.

next week i'll start a trading journal with a new demo account of 1.000$

and i will show you, as i said before, that the system is not so important.. (i'll trade with this new one)

stay...
Hope you have a healthy baby daughter.

Looking forward to your journal.

A question, how are you using the LCSM?

I see you went long Gbp/Usd and Gbp/Jpy so I assume you saw that Gbp was above the zero line and the Jpy was below, the Usd was below (above now) and that is why you were loking for long opportunities on the Gbp, is that right?
  • #314
  • Mar 15, 2013 5:50am Mar 15, 2013 5:50am
Quoting 919gilead
Attached EURUSD chart speaks for itself.

Please don't send me any PM for template as I have already posted where all these indicators can be downloaded. The Genesis Matrix Trading thread was referenced in post 292 if you are interested in the indicators too.

Good trading to all

George
George,

Great how you combined the Genesis indicators with your own ones to filter out some of the false signals. That has always been one of my personal weak points when trying to use the Genesis system. I did notice that you are using the 15 minute matrix as opposed to the 5 minute one on your chart. Have you found that this is more effective than the 5min matrix on the 5min chart?

Thanks again for posting the location of all of your indicators and showed how you're using everything in your own way.
  • #315
  • Mar 15, 2013 5:54am Mar 15, 2013 5:54am
Quoting 919gilead
And that's why I posted my own system in case he can pick one or two things to help filter out the bad trades. We all learn from each other
here, here! Hey George, god bless your contributions!

What's the 'Fast MA' that you're using? My 'Moving Average' indy doesn't have that option (only simple, exponential, smoothed)...

Mr Favorite
  • #316
  • Edited 5:59am Mar 15, 2013 5:58am | Edited 5:59am
Quoting jonnypants

Mr Favorite
Yes, I'm really good at it!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #317
  • Mar 15, 2013 6:02am Mar 15, 2013 6:02am
Quoting Tech10Ken
George,

Great how you combined the Genesis indicators with your own ones to filter out some of the false signals. That has always been one of my personal weak points when trying to use the Genesis system. I did notice that you are using the 15 minute matrix as opposed to the 5 minute one on your chart. Have you found that this is more effective than the 5min matrix on the 5min chart?

Thanks again for posting the location of all of your indicators and showed how you're using everything in your own way.

Hi Ken,

Yes I found the M15 Matrix seem to smooth out the noise just in the same way we use the higher TF stochastic. It is the same principle in trading off the 72 & 200MAs on the M5 chart, as they help avoid the whipsaws that would otherwise accompany or bedevil trading on a lower time frame. You can see the result in the EURUSD chart I posted earlier.

Regards

George
Low Risk Low Stress High Reward High Probability Trades
  • #318
  • Mar 15, 2013 6:06am Mar 15, 2013 6:06am
Hi George, thanks for sharing your trading method. Here is a chart of GU for today starting after Frankfurt open. 3 trades win 2 wins and one loss which is great. I am not expecting a 100% hit rate but can you comment on trade number 2 which was a loser please. Happy Piping to all.
Attached Image (click to enlarge)
Click to Enlarge Name: chart pic 1.gif Size: 24 KB
Trading can't be taught but it can be learned
  • #319
  • Mar 15, 2013 6:08am Mar 15, 2013 6:08am
Quoting jonnypants
here, here! Hey George, god bless your contributions!

What's the 'Fast MA' that you're using? My 'Moving Average' indy doesn't have that option (only simple, exponential, smoothed)...

Mr Favorite
Hey Jonny,

I use 12MA as the Fast MA, and if your MA indicator does not have the option you need, I will humbly suggest you search for another one on FF or the net.

And yes Favorite is lining us up here

and going for a snooze and will be back later if possible, otherwise you folks, have a great week end.

God bless

George
Low Risk Low Stress High Reward High Probability Trades
  • #320
  • Edited 7:11am Mar 15, 2013 6:31am | Edited 7:11am
Quoting Pipsninja
Hi George, thanks for sharing your trading method. Here is a chart of GU for today starting after Frankfurt open. 3 trades win 2 wins and one loss which is great. I am not expecting a 100% hit rate but can you comment on trade number 2 which was a loser please. Happy Piping to all.
Hi Pipsninja,

Your 2nd GU trade is very similar to the EU chart I posted earlier - see post 300 on page 20; only difference was, GBP was the strongest currency but you entered when it was retracing.

Additional observation:

  1. You entered on a bearish candle that was right on the 12MA. I would have waited for the candle to close above the 12MA and entered on the 2nd candle opening few pips above it;
  2. Look at the slope of the currency strength lines - they both hinted of possible pullback, as you look at them in conjunction with the bearish candle


I will suggest you show all the currency lines as showing only the pair in question does not ensure you are trading a strong vs weak currency. All it tells you is that GBP is stronger than USD but both can still be weak, and you have no edge trading 2 weak currencies against each other. If you had all the lines on, you would have noticed USD moving towards the ZL instead of away from it. I trade with 4 monitors, and have the LCSM on a M1 TF too, so I actually saw both lines cross strongly the ZL while the USD only brushed through it on the M5 TF.

Hope this helps

Have a good week end, and God bless

George

Attached Image (click to enlarge)
Click to Enlarge Name: gu trade setup1 - 3152013.gif Size: 117 KB
Low Risk Low Stress High Reward High Probability Trades
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