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Daytrading/scalping with high leverage - my proven strategy

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  • #1,461
  • Apr 5, 2013 2:44am Apr 5, 2013 2:44am
Quoting Mr C
I will work on this and get back.
That's great! Thank you, Paul!

P.S. I have the same problem the guys have.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #1,462
  • Edited 3:37am Apr 5, 2013 3:02am | Edited 3:37am
  •  Mr C
  • Joined Mar 2012 | Status: Knowledge is "potential" power | 439 Posts
The calculations might need a tweak but I need to know if it works first.

Thanks, Paul

Edit: These 2 indicators v2a & v2b are for trouble shooting different brokers only as of now V.2 is the latest version. make sure your platform is updated to the latest build.
Attached File(s)
File Type: ex4 TMA M1 BICv2a.ex4   9 KB | 442 downloads
File Type: ex4 TMA M1 BICv2b.ex4   9 KB | 385 downloads
Of all the things I've lost I miss my mind the most .
  • #1,463
  • Apr 5, 2013 3:04am Apr 5, 2013 3:04am
hello everyone, made my first trade using this system 4 successful scalps...thanks favorite...
  • #1,464
  • Apr 5, 2013 3:13am Apr 5, 2013 3:13am
Quoting Mr C
I can run all 4 versions on the same chart with no glitches I will work on this and get back. Paul, I can do this with any Broker. {image}
Paul,

I have installed a new copy of MT4 and V2 now works fine. Must have been a platform issue

thanks very much

RT
  • #1,465
  • Apr 5, 2013 3:17am Apr 5, 2013 3:17am
Following the rules together with virtual trailingstop strategy works like charm...
  • #1,466
  • Apr 5, 2013 3:17am Apr 5, 2013 3:17am
  •  Mr C
  • Joined Mar 2012 | Status: Knowledge is "potential" power | 439 Posts
Quoting RougeTrader
Paul, I have installed a new copy of MT4 and V2 now works fine. Must have been a platform issue thanks very much RT
Hopefully that's the problem I changed towers and have all new builds.

Paul
Of all the things I've lost I miss my mind the most .
  • #1,467
  • Apr 5, 2013 3:27am Apr 5, 2013 3:27am
Quoting Mr C
Hopefully that's the problem I changed towers and have all new builds. Paul
one more question........... which version should i be using now?

V2
V2a
V2b

I have V2 installed currently

Thanks

RT
  • #1,468
  • Apr 5, 2013 3:32am Apr 5, 2013 3:32am
  •  Mr C
  • Joined Mar 2012 | Status: Knowledge is "potential" power | 439 Posts
Quoting RougeTrader
one more question........... which version should i be using now? V2 V2a V2b I have V2 installed currently Thanks RT
V.2 is the one you want the others are not as reliable I was going backwards to find out where I messed up I will edit my post.

Thanks Paul
Of all the things I've lost I miss my mind the most .
  • #1,469
  • Apr 5, 2013 3:33am Apr 5, 2013 3:33am
Quoting Mr C
Hopefully that's the problem I changed towers and have all new builds. Paul
Hello and good work.
Please can you confirm the meaning of the arrows and X

Hello and thank you.
  • #1,470
  • Apr 5, 2013 3:46am Apr 5, 2013 3:46am
Quoting Zipman
Following the rules together with virtual trailingstop strategy works like charm...
Quoting aru
hello everyone, made my first trade using this system 4 successful scalps...thanks favorite...
Thank you guys, I really appreciate that!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #1,471
  • Apr 5, 2013 3:49am Apr 5, 2013 3:49am
Quoting Mr C
V.2 is the one you want the others are not as reliable I was going backwards to find out where I messed up I will edit my post. Thanks Paul
cheers Paul
  • #1,472
  • Apr 5, 2013 3:51am Apr 5, 2013 3:51am
  •  Mr C
  • Joined Mar 2012 | Status: Knowledge is "potential" power | 439 Posts
Quoting Matrix8756
Hello and good work. Please can you confirm the meaning of the arrows and X Hello and thank you.
This is how I have been testing it, I look at the currencies with an X if it looks like a potential setup I wait for the arrow alert and go back to that chart I have been using 3 currencies I delete all the rest, if you can handle more great.

Paul
Of all the things I've lost I miss my mind the most .
  • #1,473
  • Apr 5, 2013 7:13am Apr 5, 2013 7:13am
Took a loss on this EJ trade. Turns out, I was correct in the trade, and exited at its bottom. My original target was the round number, which it eventually hit. The trend lines held very well. Next time I will have a better entry and a reasonable SL. I will now wait for the next train, which may not be until monday, with NFP coming. BTW, these are all on live account.
Attached Image (click to enlarge)
Click to Enlarge Name: ej.gif Size: 55 KB
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #1,474
  • Apr 5, 2013 7:54am Apr 5, 2013 7:54am
Quoting capstone
Took a loss on this EJ trade. Turns out, I was correct in the trade, and exited at its bottom. My original target was the round number, which it eventually hit. The trend lines held very well. Next time I will have a better entry and a reasonable SL. I will now wait for the next train, which may not be until monday, with NFP coming. BTW, these are all on live account.
capstone, thank you for sharing!

Of course you can't trade EURJPY (and especially on Non-Farm Friday) with such a small SL. But I wouldn't enter this trade at any case because M1 Price Action was no good, for a long trade I want to see HH and HL are formed, not anticipated.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #1,475
  • Apr 5, 2013 8:22am Apr 5, 2013 8:22am
Quoting Favorite
capstone, thank you for sharing! Of course you can't trade EURJPY (and especially on Non-Farm Friday) with such a small SL. But I wouldn't enter this trade at any case because M1 Price Action was no good, for a long trade I want to see HH and HL are formed, not anticipated.
Favorite

Enjoying testing your strategy, I've a 6/7 win rate so far - I'm exiting quite early, normally 8-12 pips - it's my first look at M1 so I need to get a feel for the momentum and reading the PA much quicker.

With this TF, approximately how many bars of HH, HL would you be looking for?
  • #1,476
  • Apr 5, 2013 8:48am Apr 5, 2013 8:48am
Quoting hollowhead
it's my first look at M1 so I need to get a feel for the momentum and reading the PA much quicker. With this TF, approximately how many bars of HH, HL would you be looking for?
hollowhead, to tell you the truth I've never counted the bars, for me the distance in pips is more important, but it is very subjective, depends on the scale. I'm sorry that I can't give better answer, but evaluating M1 Price action depends on the experience, the more you watch it the better you understand it, no shortcuts...

Quoting hollowhead
Favorite Enjoying testing your strategy, I've a 6/7 win rate so far - I'm exiting quite early, normally 8-12 pips
hollowhead, it is a very good result. I have many days and even weeks when all my trades're profitable, but there is no system that is 100%, so 6/7 is very good IMHO.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #1,477
  • Apr 5, 2013 8:59am Apr 5, 2013 8:59am
Quoting Favorite
hollowhead, to tell you the truth I've never counted the bars, for me the distance in pips is more important, but it is very subjective, depends on the scale. I'm sorry that I can't give better answer, but evaluating M1 Price action depends on the experience, the more you watch it the better you understand it, no shortcuts... hollowhead, it is a very good result. I have many days and even weeks when all my trades're profitable, but there is no system that is 100%, so 6/7 is very good IMHO.
This seems to be a more comfortable (and effective) approach for me. I need to spend more time in the M1 environment but it's not as frantic as I thought it was going to be. It's a little bit like testing a M30 TF in a simulator and putting it on full speed!!

BTW I'm also using the Genesis Matrix to help filter and have the PDay Pivots and Fibs to keep S/R in mind.
  • #1,478
  • Apr 5, 2013 9:00am Apr 5, 2013 9:00am
  •  Mr C
  • Joined Mar 2012 | Status: Knowledge is "potential" power | 439 Posts
Any Ideas,

Paul

Edit: TMA Bottom & Center below Cloud & X. X = only has to be below the Red line on Ichimoku 10,8,15

Attached Image (click to enlarge)
Click to Enlarge Name: X_Stategy_001.png Size: 42 KB
Of all the things I've lost I miss my mind the most .
  • #1,479
  • Apr 5, 2013 9:00am Apr 5, 2013 9:00am
Quoting Favorite
capstone, thank you for sharing! Of course you can't trade EURJPY (and especially on Non-Farm Friday) with such a small SL. But I wouldn't enter this trade at any case because M1 Price Action was no good, for a long trade I want to see HH and HL are formed, not anticipated.
Nice.. The indicator you got in the right cornor. Can you post that? Thanks...
  • #1,480
  • Apr 5, 2013 9:16am Apr 5, 2013 9:16am
I dont understand. As we have seen already it seems that this strategy works 99.9% with Favorite and DNA. Then why sould we need other indicators and filters. I think we just need to master the two formations Favorite had shared and with 10 pips a day well be rich
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