Daytrading/scalping with high leverage - my proven strategy | Page 46 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Daytrading/Scalping in Crypto markets 357 replies

Dashboard EA based on Daytrading/scalping with high leverage 103 replies

A Proven Simple Strategy (2MAs, 1 RSI) 436 replies

Looking for proven scalping strategy to program 1 reply

Share Something Proven - Scalping Method Please 10 replies

Attachments: Daytrading/scalping with high leverage - my proven strategy
Exit Attachments

Daytrading/scalping with high leverage - my proven strategy

  • Linked: 1 Lot - 1.000 $ | Brokerage Account XXX82
  • Trader:
  • Broker:
  • Type:
This Trade Explorer is no longer publicly available.
  • #901
  • Edited 1:59pm Mar 23, 2013 1:43pm | Edited 1:59pm
DNA, RJ, George, Favorite

Some loose thoughts after one week of trading DNA's style:

Entries based on Genesis.
My target was 5 trades a day, 4 pips TP, 100 pips SL.
I had 25 consecutive wins where the DD did not exceed 25 pips on any of the trades.
Therefore, next week I'm planning to bring the SL down to 25 pips.
My thinking is that even with 1-2 losses per 25 trades, the end of week result should reach between 50-75% growth of the account balance (or 100% if I can repeat the same number of wins).

Does it make sense?

I would appreciate your comments and constructive criticism is welcome as I know you are much more experienced traders than I am
Attached Image (click to enlarge)
Click to Enlarge Name: week1.jpg Size: 229 KB
mind over matter
  • #902
  • Mar 23, 2013 2:54pm Mar 23, 2013 2:54pm
Hi,kosmo!
I use genesis style trading too,but here what parts do you use from the original system?Is it just the genesis?
  • #903
  • Mar 23, 2013 3:14pm Mar 23, 2013 3:14pm
Quoting kosmo
DNA, RJ, George, Favorite

Some loose thoughts after one week of trading DNA's style:

Entries based on Genesis.
My target was 5 trades a day, 4 pips TP, 100 pips SL.
I had 25 consecutive wins where the DD did not exceed 25 pips on any of the trades.
Therefore, next week I'm planning to bring the SL down to 25 pips.
My thinking is that even with 1-2 losses per 25 trades, the end of week result should reach between 50-75% growth of the account balance (or 100% if I can repeat the same number of wins).

Does it make sense?

I would...
Hi K

Why do you want to have a static SL? Every trade is "special" and you may use Genesis rules for SL
Look like a girl, act like a lady, think like a man and work like a dog.
  • #904
  • Mar 23, 2013 3:20pm Mar 23, 2013 3:20pm
Quoting palinkasa
Hi,kosmo!
I use genesis style trading too,but here what parts do you use from the original system?Is it just the genesis?
Hi palinkasa,

I just go by the original system as introduced by RJ.
mind over matter
  • #905
  • Mar 23, 2013 4:14pm Mar 23, 2013 4:14pm
Quoting Simonik
Hi K

Why do you want to have a static SL? Every trade is "special" and you may use Genesis rules for SL
You're probably right, but I'm in the process of finding the best parameters for scalping DNA's style, using Genesis entries. It's an experiment
mind over matter
  • #906
  • Mar 23, 2013 5:13pm Mar 23, 2013 5:13pm
Quoting kosmo
Thanks Favorite. I'll be very interested to learn more
Thank you, Joanna! I'll do my best!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #907
  • Mar 23, 2013 5:24pm Mar 23, 2013 5:24pm
Quoting kosmo
DNA, RJ, George, Favorite

Some loose thoughts after one week of trading DNA's style:

Entries based on Genesis.
My target was 5 trades a day, 4 pips TP, 100 pips SL.
I had 25 consecutive wins where the DD did not exceed 25 pips on any of the trades.
Therefore, next week I'm planning to bring the SL down to 25 pips.
My thinking is that even with 1-2 losses per 25 trades, the end of week result should reach between 50-75% growth of the account balance (or 100% if I can repeat the same number of wins).

Does it make sense?

I would appreciate...
Joanna, great results!

I think you have a very good, reasonable, sound plan. If I were you I would have different stop-losses for different currencies. You have to agree that with ANY system and under any circumstances EURJPY and GBPJPY, for example, need bigger SL than EURUSD and GBPUSD. So I would suggest to make EURJPY's SL 5 pips more than EURUSD's SL and USDJPY's SL.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #908
  • Mar 23, 2013 6:07pm Mar 23, 2013 6:07pm
Quoting Simonik
Hi K

Why do you want to have a static SL? Every trade is "special" and you may use Genesis rules for SL
I have to agree with you here Simon. We all have variations on the 'theme', but I have never subscribed to having a hard and fast rules of 'x' number of pips for a SL. Further, I would (personally) never consider such an outrageous R:R!!

If using Genesis as an entry method, and if you're only seeking 4 pips (+spread), then SL place under/over the recent swing low/swing high would suffice.

If a move goes 50, 60, 70 ,80, 90 against you, there's a reasonable chance that it's not coming back.....at least for for some time anyway. Also, if that happens, I (again personally) would have cut my losses fairly early and reversed the trade. No point in baby sitting a trade until it hit's -100.......much better to cut if off and reverse it...imo.

When the user gets the 'hang' of Genesis, like Jo has, then the good entries vs the bad entries are something in the region of 80%.......if the user has got the good entry, then how they manage that trade is up to them. Taking a small amount of pips at (reasonably) high risk levels is ok.......staying in the move until it dies while adding in more trades throughout the move is ok......staying safe with a single low risk trade is also ok. It just depends on the user.

But, I really cannot see why the arbitrary 'line in the sand' is set at -100......when all the user is looking for is 4 pips (+spread). It would seem to make more sense (to me) to use the swing high/swing low method of SL placement and reverse the trade if need be.

We have seen the damage that -100 SL's can do to an (otherwise impressive) account of 94% win rate with high risk. In my opinion, there is no need to seek such huge gains in a small amount of time. It wasn't the hare the won the race....it was the tortoise!!

RJ
Doing what you like is Freedom. Liking what you do is Happiness.
  • #909
  • Mar 23, 2013 6:23pm Mar 23, 2013 6:23pm
Quoting realjumper
No point in baby sitting a trade until it hit's -100.......much better to cut if off and reverse it...imo.
Quoting realjumper
But, I really cannot see why the arbitrary 'line in the sand' is set at -100......when all the user is looking for is 4 pips (+spread). It would seem to make more sense (to me) to use the swing high/swing low method of SL placement and reverse the trade if need be.
Quoting realjumper
We have seen the damage that -100 SL's can do to an (otherwise impressive) account of 94% win rate with high risk
RJ, but that's the whole point!

You're talking about 100 pips and I agree with you. But Joanna was using this SL for the research's purpose only, and now she wants to bring it down to 25 pips.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #910
  • Mar 23, 2013 6:28pm Mar 23, 2013 6:28pm
Quoting Favorite
RJ, but that's the whole point!

You're talking about 100 pips and I agree with you. But Joanna was using this SL for the research's purpose only, and now she wants to bring it down to 25 pips.
Yes I know.....Jo knows what's she's doing and I have no issue with that at all. I just felt that the point of the -100 SL needed to be mentioned a little more clearly for those who might entertain such an idea.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #911
  • Mar 23, 2013 6:33pm Mar 23, 2013 6:33pm
Quoting realjumper
I just felt that the point of the -100 SL needed to be mentioned a little more clearly for those who might entertain such an idea.
And I keep forgetting that there are a lot (NOT only you and Joanna) of Genesis-traders who read this thread, and from this point of view you're absolutely right when you want to make it more clear!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #912
  • Mar 23, 2013 6:50pm Mar 23, 2013 6:50pm
Quoting kosmo
DNA, RJ, George, Favorite

Some loose thoughts after one week of trading DNA's style:

Entries based on Genesis.
My target was 5 trades a day, 4 pips TP, 100 pips SL.
I had 25 consecutive wins where the DD did not exceed 25 pips on any of the trades.
Therefore, next week I'm planning to bring the SL down to 25 pips.
My thinking is that even with 1-2 losses per 25 trades, the end of week result should reach between 50-75% growth of the account balance (or 100% if I can repeat the same number of wins).

Does it make sense?

I would...
Impressive result Jo On the issue of 100 SL, I will only reiterate what I said in post 810 on page 54:

 

  1. SL will be 5 - 20 and anything above that is unnecessary risk. Preservation of capital is very important, so that we keep riding on the back of the tiger for food.
  2. Trading the M1 TF affords us the opportunity to use smaller SL, and not take unnecessary risk


And I agree with RJ, as I use either the trigger candle or swing point, as long as risk is not more than 25 pips at the maximum. I have used higher SL before and seen the futility of it, and therefore learnt from my failure as it is better to be out of a trade early and be here to trade another day than loose my capital and be out of the market completely. You are doing very well without adapting DNA's money management method, and the part that I agree with is what I have done, and that is, taking quick profit as this was what grew my account as opposed to using higher SL. If you look at my statement in posts 609 and 612, you will notice that in some trades I did not have stop losses as I was taking advantage of Stox turning from an extreme level after MA & Matrix alignment with great timing to enter the trade, and most trades were closed within one to 5 minutes. I have however resolved never to trade without a SL.

Take care, and God bless

George

Low Risk Low Stress High Reward High Probability Trades
  • #913
  • Mar 23, 2013 6:51pm Mar 23, 2013 6:51pm
Quoting realjumper
I have to agree with you here Simon. We all have variations on the 'theme', but I have never subscribed to having a hard and fast rules of 'x' number of pips for a SL. Further, I would (personally) never consider such an outrageous R:R!!

If using Genesis as an entry method, and if you're only seeking 4 pips (+spread), then SL place under/over the recent swing low/swing high would suffice.

If a move goes 50, 60, 70 ,80, 90 against you, there's a reasonable chance that it's not coming back.....at least for for some time anyway. Also, if that...
In total agreement with you RJ
Low Risk Low Stress High Reward High Probability Trades
  • #914
  • Mar 23, 2013 8:48pm Mar 23, 2013 8:48pm
Quoting Favorite
And I keep forgetting that there are a lot (NOT only you and Joanna) of Genesis-traders who read this thread, and from this point of view you're absolutely right when you want to make it more clear!
Yes oh, there are a lot of us here as I'm one of them I don't post charts there because I respect RJ's instruction to use only GMTS approved indicators, and it is difficult for me taking 2 screenshots to post on my blog and here, and then taking a 3rd one with GMTS indicators, especially when you're entering trades to exit ASAP. But I hope to be active there next month by the grace of God.
Low Risk Low Stress High Reward High Probability Trades
  • #915
  • Mar 23, 2013 8:50pm Mar 23, 2013 8:50pm
Going to spend the remaining time with my family, and I leave you folks with this thought:

The harder the conflict, the more glorious the triumph. What we obtain too cheap, we esteem too lightly; it is dearest only that gives everything its value. I love the man that can smile in trouble, that can gather strength from distress and grow brave by reflection. It's the business of little minds to shrink; but he whose heart is firm, and whose conscience approves his conduct, will pursue his principles unto death ~ Thomas Paine
Low Risk Low Stress High Reward High Probability Trades
  • #916
  • Mar 24, 2013 10:18am Mar 24, 2013 10:18am
Quoting Favorite
I keep getting PMs asking about my M1 "Babon-Ichimoku", so I think I have to explain something.

I already told in the thread that I use two templates, one for entry and one for exits, but so far I posted only one template. When I enter I look at both and the second one shows me whether this entry will be worth it's while, next week I will show the second template and I will describe step by step how I evaluate the possible entry using two templates and how I exit with almost the maximum profit. This week I couldn't do it because the second template...
Good news Favorite.

Counting the hours until next week.
  • #917
  • Mar 24, 2013 2:45pm Mar 24, 2013 2:45pm
Quoting Favorite
And another +9 pips. That's enough for today!
how are you arrange your SL or TP ???
  • #918
  • Mar 24, 2013 2:56pm Mar 24, 2013 2:56pm
Quoting hipofiz
how are you arrange your SL or TP ???
When I trade DNA-style, I use 30 pips emergency stop, but I exit if I see that the price went against me.

I'll explain my profit-taking on Monday-Tuesday, when I'll post my "exit"-template.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #919
  • Mar 24, 2013 3:07pm Mar 24, 2013 3:07pm
Quoting Favorite
And another +9 pips. That's enough for today!
Hello.
I'm sorry but I do not see this Trade Ichimoku cloud
  • #920
  • Mar 24, 2013 3:26pm Mar 24, 2013 3:26pm
Quoting Favorite
Joanna, great results!

I think you have a very good, reasonable, sound plan. If I were you I would have different stop-losses for different currencies. You have to agree that with ANY system and under any circumstances EURJPY and GBPJPY, for example, need bigger SL than EURUSD and GBPUSD. So I would suggest to make EURJPY's SL 5 pips more than EURUSD's SL and USDJPY's SL.
Thanks Favorite. I take your advice. EJ is a wild beast and definitely needs more room to breathe.
mind over matter
12 traders viewing now