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Daytrading/scalping with high leverage - my proven strategy

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  • #1,001
  • Mar 26, 2013 2:48am Mar 26, 2013 2:48am
Quoting Favorite
sunhoyu, in a couple of days I'll explain how I look at the TMA H1/ TMA H4 in all the details (I don't want to do it right now and I don't want to show the TMA patterns right now because I want to give the participants some time to master what I already explained).

But right now I can say: it doesn't matter whether the TMA H1 channel is up or down, what is important - in which direction the price moves inside the channel and how the H1 channel interacts with the H4 channel. So with all those details I can see one of the three options...
ok man

i thought u only take trades according to the direction of the channel on H1.

I got u now! I remember u said u used High and low to determine the currency trend, with that lower low and higher low, that retracement is an uptrend indeed

now I am more clear about your strategy thanks dude
  • #1,002
  • Mar 26, 2013 2:50am Mar 26, 2013 2:50am
Quoting Favorite
If you entered where I did and waited long enough, you could make 20-22 pips. And I knew it's gonna be a good trade because I saw one of the patterns I promised to teach you in a couple of days.
Yes, it could be 35 pips. But I don't feel sorry that I exited "prematurely", so to speak - The God punishes greedy traders!
Attached Image
Gentlemen always play by the rules. If they can't, they change the rules.
  • #1,003
  • Mar 26, 2013 2:50am Mar 26, 2013 2:50am
Quoting Simonik
I use in general M5-M15, but sometimes i try something different...new TF, new indicator, new ideas
The ea, is a mini-terminal for fast execution provided by my brooker. I set tp/sl/volume and...with 1 click i have a nice new order
With 1 pip spread EU, i use MPTM to close order at specific number of pips.

I found that music help me to stay alert
Thanks, Simonik. The broker I demo with (IC Markets) has got the same and it's a great tool, but with lvoe 1.6.1 I can move SL and TP lines directly from the chart.

I'm not sure if it works well in live trading though.

Is anybody using lvoe 1.6.1 for live trading here?
mind over matter
  • #1,004
  • Mar 26, 2013 2:52am Mar 26, 2013 2:52am
Quoting sunhoyu
ok man

i thought u only take trades according to the direction of the channel on H1.

I got u now! I remember u said u used High and low to determine the currency trend, with that lower low and higher low, that retracement is an uptrend indeed

now I am more clear about your strategy thanks dude
sunhoyu, you know that it is not that easy to explain everything in just one post, but we'll get "THERE" eventually, I promise!

TMA H1 channel is very inertial (and it is a good thing), that's why we don't look at the channel's direction itself, we look at how the price moves inside the H1 channel and how the H1 channel interacts with the TMA H4 channel.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #1,005
  • Mar 26, 2013 3:14am Mar 26, 2013 3:14am
Hi Favorite, thanks for sharing this method and am looking forward to your further explanation of the TMA component of this method. I use MT4 for charting only. Here are my trades for today. Green vertical lines are buys, red ones sell and the blue ones are my exits. -12+10+6-8+18+11=+25.

I used an emergency SL of 20-25 pips on each trade and as soon the price crossed over the cloud in the opposite direction, I closed my trade.
Attached Image (click to enlarge)
Click to Enlarge Name: chart pic 1.gif Size: 35 KB
Trading can't be taught but it can be learned
  • #1,006
  • Mar 26, 2013 3:15am Mar 26, 2013 3:15am
Quoting Favorite
sunhoyu, you know that it is not that easy to explain everything in just one post, but we'll get "THERE" eventually, I promise!

TMA H1 channel is very inertial (and it is a good thing), that's why we don't look at the channel's direction itself, we look at how the price moves inside the H1 channel and how the H1 channel interacts with the TMA H4 channel.
sure! take your time! you strategy amazed me! simply entry with consideration of Higher timeframe seems providing high accuracy winning ratio!

I think this strategy would definitely be profitable, just need to find out the best SL for it.

Favorite, you just trade it only on EJ? I know that u dun trade too much with this system,

but with M1 trading how many entries you think you would have per trading day (maximum) with the system?

looking forward to you further explanation with this system
  • #1,007
  • Mar 26, 2013 3:16am Mar 26, 2013 3:16am
if this factor dishes out like i think ill publish a zip with indies and tp, preferably i discover a CSM that performs well with this, i think forex durability with the significant SR's is the ticket
  • #1,008
  • Edited 4:14am Mar 26, 2013 3:48am | Edited 4:14am
Quoting Pipsninja
Hi Favorite, thanks for sharing this method and am looking forward to your further explanation of the TMA component of this method. I use MT4 for charting only. Here are my trades for today. Green vertical lines are buys, red ones sell and the blue ones are my exits. -12+10+6-8+18+11=+25.

I used an emergency SL of 20-25 pips on each trade and as soon the price crossed over the cloud in the opposite direction, I closed my trade.
Hi Pipsninja!

Very nicely done! But I would prefer you to use my template because I'm sure that your Ichimoku has different settings. For example I wouldn't take the short trade where you lost 8 pips because the price was above my Ichimoku, but somehow it is below your Ichimoku. And I can assure you that I wouldn't take your another loss (12 pips), in a couple of days I'll show the pattern that would help to avoid this kind of bad trades.

But on the whole: GOOD FOR YOU!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #1,009
  • Edited 4:01am Mar 26, 2013 3:50am | Edited 4:01am
Thanks mate. 2 more short trades +23+12=+35. Up 60 pips. I was in a rush to post the pic. Red vertical lines are my short entry and green ones are my exits. I am finished trading for today.
Attached Image (click to enlarge)
Click to Enlarge Name: chart pic 1.gif Size: 29 KB
Trading can't be taught but it can be learned
  • #1,010
  • Mar 26, 2013 3:54am Mar 26, 2013 3:54am
5 minutes trading for today :
Attached Image (click to enlarge)
Click to Enlarge Name: Snap001 2013-03-26, 09_53_53.png Size: 17 KB
My name is Martin... Martin Gale
  • #1,011
  • Mar 26, 2013 4:09am Mar 26, 2013 4:09am
Quoting sunhoyu
sure! take your time! you strategy amazed me! simply entry with consideration of Higher timeframe seems providing high accuracy winning ratio!

I think this strategy would definitely be profitable, just need to find out the best SL for it.

Favorite, you just trade it only on EJ? I know that u dun trade too much with this system,

but with M1 trading how many entries you think you would have per trading day (maximum) with the system?

looking forward to you further explanation with this system
sunhoyu, I think we can have something like 6-10 good entries per day per currency, depending on the day (day of the week, daily range, news/no news etc.)

Right now I trade only EURJPY, but I was watching EURUSD and GBPJPY for a little while, they both would do just fine.

Maybe one of the programmers would be able to create a Dashboard, so it would be possible to watch a lot of currencies. But I understand it is a very big maybe, the system is pretty complicated, especially M1 Price Action. But one of the patterns I'm going to show this week is very profitable and very simple, I'm sure it would be very easy to create a Dashboard just for this one pattern.

Yes, you're right, my main goal right now - to find the right SL.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #1,012
  • Mar 26, 2013 4:11am Mar 26, 2013 4:11am
Quoting Pipsninja
Up 60 pips.
Quoting Pipsninja
I am finished trading for today.
Yes, it is very important not to be greedy! Well done!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #1,013
  • Mar 26, 2013 4:17am Mar 26, 2013 4:17am
Quoting kosmo
Thanks, Simonik. The broker I demo with (IC Markets) has got the same and it's a great tool, but with lvoe 1.6.1 I can move SL and TP lines directly from the chart.

I'm not sure if it works well in live trading though.

Is anybody using lvoe 1.6.1 for live trading here?
Hi Kosmo,

I use LVOE all the time on live trades, wouldn't be without it.

Steve.
  • #1,014
  • Mar 26, 2013 4:23am Mar 26, 2013 4:23am
Quoting condor666
5 minutes trading for today :
Attachment
Gentlemen always play by the rules. If they can't, they change the rules.
  • #1,015
  • Edited 5:15am Mar 26, 2013 4:27am | Edited 5:15am
Thanks again Favorite. I had a question regarding your comment on my -8 pip trade with the price being above your Ichimoku. My short entry was at 7:24 according to my platform time. I am attaching both pics for comparison with your template and mine. I would appreciate your comment mate.
Attached Image (click to enlarge)
Click to Enlarge Name: chart pic 1.gif Size: 16 KB
Attached Image
Trading can't be taught but it can be learned
  • #1,016
  • Mar 26, 2013 4:49am Mar 26, 2013 4:49am
Quoting Pipsninja
Thanks again Favorite. I had a question regarding your comment on my -8 pip trade with the price being above your Ichimoku. My short entry was at 7:24 according to my platform time. I am attaching both pics for comparison with your template and mine. I would appreciate your comments mate.
Yes, I made a mistake because our terminal time is different, sorry about that. But what I said about the pattern and -12 trade is still right, I double-checked it.

Your Ichimoku is OK, but I'm still sure I wouldn't take this trade because of the M1 Price Action. I'm not saying that this system is 100% but in this particular case I wouldn't enter. Please look at my chart. I show 5 circles.

1-st circle is the original High.
2-nd circle is the original Low.

We want to see the Lower High and the Lower Low.

3-rd circle is the Lower High.
But the 4-th circle is not the Lower Low, when you entered the Lower Low hasn't been formed yet, the price had to go up, then we would know that it was the Lower Low. So when you entered you didn't have the Lower Low yet, the Lower Low has been formed where I show the 5-th circle, and if you entered after that, you would do just fine.
Attached Image (click to enlarge)
Click to Enlarge Name: m1-eurjpy.gif Size: 187 KB
Gentlemen always play by the rules. If they can't, they change the rules.
  • #1,017
  • Mar 26, 2013 4:49am Mar 26, 2013 4:49am
Good thread, keep it up everyone. I am sitting on the side lines because of the lack of time I have but hope to get involved real soon.

jt
"Even if you fall down face first, you still went forward."
  • #1,018
  • Mar 26, 2013 4:53am Mar 26, 2013 4:53am
Quoting Favorite
Yes, I made a mistake because our terminal time is different, sorry about that. But what I said about the pattern and -12 trade is still right, I double-checked it.

Your Ichimoku is OK, but I'm still sure I wouldn't take this trade because of the M1 Price Action. I'm not saying that this system is 100% but in this particular case I wouldn't enter. Please look at my chart. I show 5 circles.

1-st circle is the original High.
2-nd circle is the original Low.

We want to see the Lower High and the Lower Low.

3-rd circle is the Lower High.
But...
A question if you can?
Where can I find a template?
please more!
  • #1,019
  • Mar 26, 2013 4:58am Mar 26, 2013 4:58am
Thanks Favorite for the detailed response.
Trading can't be taught but it can be learned
  • #1,020
  • Mar 26, 2013 4:58am Mar 26, 2013 4:58am
Quoting gtudor
A question if you can?
Where can I find a template?
please more!
Sure!

Page 62, post #930:
http://www.forexfactory.com/showthre...49#post6543449

The post contains the templates, the indicators and the rules and explanations too!
Gentlemen always play by the rules. If they can't, they change the rules.
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