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Daytrading/scalping with high leverage - my proven strategy

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  • #1,561
  • Apr 8, 2013 5:45am Apr 8, 2013 5:45am
Quoting artem_t
Hello to all! Totally agree with Favorite. That's what can happen at NFP day. Don't do it, jgadefelth. It's a gambling, not trading. Listen to Favorite - he knows what he says. P.S. Favorite, George and DNA - thank you very much for all your stuff
artem_t, thank you very much! That's a very interesting example you gave. 55 pips... Now I've seen all!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #1,562
  • Apr 8, 2013 5:54am Apr 8, 2013 5:54am
Quoting Favorite
Today's +30 pips, EURJPY. It is not the best day for trading EURJPY, it's ranging, so my targets are much smaller than usual, I exit at TMA M1 or after a long (rather longer) candle. {image}
Favorite, may I ask you your reason why you didnt enter long on the two fake cloud breakouts just before the 2nd green arrow in your chart? Thanks!
  • #1,563
  • Apr 8, 2013 6:19am Apr 8, 2013 6:19am
Babon Slope is like HA.
The difference is that babon Slope doesn't show little retrace.
Attached Image
  • #1,564
  • Apr 8, 2013 6:21am Apr 8, 2013 6:21am
Quoting mario777
Favorite, may I ask you your reason why you didnt enter long on the two fake cloud breakouts just before the 2nd green arrow in your chart? Thanks!
I think favorite did not enter because at this time, TMA 5 (yellow line) was pointing down.
Correct me if Im wrong.
  • #1,565
  • Apr 8, 2013 6:22am Apr 8, 2013 6:22am
Quoting mario777
Favorite, may I ask you your reason why you didnt enter long on the two fake cloud breakouts just before the 2nd green arrow in your chart? Thanks!
In the first case the TMA M5 was pointing down and I was not sure about the M1 Price Action. It was a little while ago, so at first I wasn't even sure why I didn't enter, but now I remember. In the second case I remember exactly - we don't trade cloud breakouts, we trade Babon! I said before that I want to enter the second color change's candle, and I can consider 3-rd or maybe 4-th candle, but in that case it was already 5-th candle, it was obvious that the movement is almost over.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #1,566
  • Apr 8, 2013 6:40am Apr 8, 2013 6:40am
Quoting Phaholj
The difference is that babon Slope doesn't show little retrace.
Well, it is M1, and little things mean a lot!


Quoting Phaholj
Babon Slope is like HA.
No, it is not!
Attached Image
Gentlemen always play by the rules. If they can't, they change the rules.
  • #1,567
  • Apr 8, 2013 6:48am Apr 8, 2013 6:48am
Quoting smeden
Thats trading with your balls out. YAMAN go for it. But how do you handle the one loosing trade that wipe out your account?
Ha ha smeden, I love your comment. Seems like trading suicide to me.
  • #1,568
  • Apr 8, 2013 6:54am Apr 8, 2013 6:54am
Quoting llonigro
Ha ha smeden, I love your comment. Seems like trading suicide to me.
Ha ha llonigro. Seems like another idiot will be banned from the thread.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #1,569
  • Apr 8, 2013 7:47am Apr 8, 2013 7:47am
Hi everyone!
Geat results for those who traded London! congratulations!
New York start was very slow today! just waiting!
I know where the market is going to move next: to the righ! XD
  • #1,570
  • Apr 8, 2013 8:00am Apr 8, 2013 8:00am
Quoting fugio
Hi everyone! Geat results for those who traded London! congratulations! New York start was very slow today! just waiting!
Hi fugio!

Yes, I always try to meet my daily goal before New York Open.

However I think it depends. For example I don't trade USDCAD but as far as I know USDCAD for obvious reasons often shows very good results at New York Open.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #1,571
  • Apr 8, 2013 8:16am Apr 8, 2013 8:16am
Dear fellow traders,

I'd like to share my exp.. And would like some opinion and suggestions from you guys..
I've been using this MM rule same as dna's for two weeks: 5pips/trade, 2trades max/day, 50pips SL. My live account got triple with 22 consecutive wins.

Today, mr.greed knock on my door... Today I decided to try to trade using 3x my usual lots as my account has gone up..
I still remember how unpatience I am when I entered my trade today, my heart beats faster. The market hasn't showed its way but I have already entered, few minutes later I got that feeling like when you know you're on a losing trade. But still my pride wouldnt let me exit. I kept on searching for 'reasons' that it's going to reverse and wait as my loses run.

I didnt wait till my SL got hit and cut the 28pips losing position. Now I'm thrown backwards for 3 days trade (3x10pips a day) ,ended my consecutive wins and learned my lesson
"I set rules to protect myself from myself"
  • #1,572
  • Apr 8, 2013 8:27am Apr 8, 2013 8:27am
Quoting Favorite
Hi fugio! Yes, I always try to meet my daily goal before New York Open. However I think it depends. For example I don't trade USDCAD but as far as I know USDCAD for obvious reasons often shows very good results at New York Open.
Yes, I know waht you mean, I try to reach my goal during NY before London close, but london alone is so much better, I wonder why? Because in theory the best 2 open markets should be better than just one! But sometimes all liquidity is gone before NY open! It is a cruel world! hahaha
I know where the market is going to move next: to the righ! XD
  • #1,573
  • Apr 8, 2013 8:32am Apr 8, 2013 8:32am
Quoting hwZZZ
Today, mr.greed knock on my door... Today I decided to try to trade using 3x my usual lots as my account has gone up.. I still remember how unpatience I am when I entered my trade today, my heart beats faster. The market hasn't showed its way but I have already entered, few minutes later I got that feeling like when you know you're on a losing trade. But still my pride wouldnt let me exit. I kept on searching for 'reasons' that it's going to reverse and wait as my loses run. I didnt wait till my SL got hit and cut the 28pips losing position.
hwZZZ, thank you for sharing, that's a very important lesson for all the thread's participants.

It takes a big man to admit when he's wrong...

It's really nice to hear that it was your own fault - not system's fault, not broker's fault, not SL hunter's fault.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #1,574
  • Apr 8, 2013 8:38am Apr 8, 2013 8:38am
Hi All,

Just a response to Igor's charts. I did some research this weekend & agree that the Kijun-sen line is a really good filter especially paying attention to in on the M5 chart while scalping on the M1 chart. I removed the other lines on the Ichimoku (too busy) but the kijun line works well.

Thanks Favorite & others for continued suggestions.
  • #1,575
  • Apr 8, 2013 8:43am Apr 8, 2013 8:43am
EURJPY +30 pips. 115 pips for today. I'm done!
Attached Image
Gentlemen always play by the rules. If they can't, they change the rules.
  • #1,576
  • Apr 8, 2013 8:46am Apr 8, 2013 8:46am
Quoting srt
Hi All, Just a response to Igor's charts. I did some research this weekend & agree that the Kijun-sen line is a really good filter especially paying attention to in on the M5 chart while scalping on the M1 chart. I removed the other lines on the Ichimoku (too busy) but the kijun line works well.
Thank you, srt, that's very important!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #1,577
  • Apr 8, 2013 8:47am Apr 8, 2013 8:47am
  •  Mr C
  • Joined Mar 2012 | Status: Knowledge is "potential" power | 439 Posts
Quoting srt
Hi All, Just a response to Igor's charts. I did some research this weekend & agree that the Kijun-sen line is a really good filter especially paying attention to in on the M5 chart while scalping on the M1 chart. I removed the other lines on the Ichimoku (too busy) but the kijun line works well. Thanks Favorite & others for continued suggestions.
I am working a lot with this lately and agree thanks for sharing, welcome Igor.

Paul
Of all the things I've lost I miss my mind the most .
  • #1,578
  • Apr 8, 2013 8:49am Apr 8, 2013 8:49am
Quoting Favorite
EURJPY +30 pips. 115 pips for today. I'm done! {image}
Way to go! Though seems like ej's price might fall again ;D .. -- Dna's 'beware of greeds'
"I set rules to protect myself from myself"
  • #1,579
  • Apr 8, 2013 8:50am Apr 8, 2013 8:50am
Quoting hwZZZ
Dear fellow traders, I'd like to share my exp.. And would like some opinion and suggestions from you guys.. I've been using this MM rule same as dna's for two weeks: 5pips/trade, 2trades max/day, 50pips SL. My live account got triple with 22 consecutive wins. Today, mr.greed knock on my door... Today I decided to try to trade using 3x my usual lots as my account has gone up.. I still remember how unpatience I am when I entered my trade today, my heart beats faster. The market hasn't showed its way but I have already entered, few minutes later I...

I have been there too! Painfull lesson, if it is a demo account still painfull! But if we never make mistakes, we cannot learn from them! As forex traders we have to know how to read wins an how to read loss as well to keep in play. Keep the good work!
I know where the market is going to move next: to the righ! XD
  • #1,580
  • Apr 8, 2013 8:52am Apr 8, 2013 8:52am
Guys, maybe I won't be here for the rest of the day, but if you have any questions - ask, I'll answer when I come back.

I'll be back!
Gentlemen always play by the rules. If they can't, they change the rules.
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