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Daytrading/scalping with high leverage - my proven strategy

  • Linked: 1 Lot - 1.000 $ | Brokerage Account XXX82
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  • #1,701
  • Apr 9, 2013 8:05am Apr 9, 2013 8:05am
Quoting condor666
I think it's a good day today
Yes, I would say that's a good day!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #1,702
  • Apr 9, 2013 8:10am Apr 9, 2013 8:10am
Long at 129.346
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpymm1.png Size: 46 KB
  • #1,703
  • Apr 9, 2013 8:11am Apr 9, 2013 8:11am
Favorite, did i make the right entry according to the rules on this pic? I entered where i marked the black arrow at with circle.
Attached Image (click to enlarge)
Click to Enlarge Name: m1.jpg Size: 151 KB
  • #1,704
  • Apr 9, 2013 8:24am Apr 9, 2013 8:24am
Quoting dj083
Favorite, did i make the right entry according to the rules on this pic? I entered where i marked the black arrow at with circle.
No, it was a bad entry. First of all please go to the post 930 and make sure you understand what is the second candle at which you're supposed to enter, because right now you entered before the red color was confirmed.

Second, and most important - you didn't pay attention to the M1 Price Action, you're supposed to wait until lower low and lower high are formed (once again, post #930).
Gentlemen always play by the rules. If they can't, they change the rules.
  • #1,705
  • Apr 9, 2013 8:25am Apr 9, 2013 8:25am
Quoting jackey
hi,all.EJ +16. Thanks Favorite for your system,very good strategy.
And thank you for posting such a nice trade!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #1,706
  • Apr 9, 2013 8:29am Apr 9, 2013 8:29am
Oooooops. Stopped out at 129.11 (-23 pips)
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpymm1.png Size: 46 KB
  • #1,707
  • Apr 9, 2013 8:34am Apr 9, 2013 8:34am
Quoting Favorite
No, it was a bad entry. First of all please go to the post 930 and make sure you understand what is the second candle at which you're supposed to enter, because right now you entered before the red color was confirmed. Second, and most important - you didn't pay attention to the M1 Price Action, you're supposed to wait until lower low and lower high are formed (once again, post #930).
I took this trade too but luckily exited at +5pips. I dont understand Favorite: to me it seems a legit abc pattern?
  • #1,708
  • Apr 9, 2013 8:35am Apr 9, 2013 8:35am
Hello Every one!
First sorry english
I hope im not off topic
I lurking around from some time,
but i want to say all the time i try to find something what suit to me as potential trader.
I still leaning, but i do not trade anymore demo or to make backtesting.
because i prefer to be future oriented and no past oriented.
A nice video can you find here on Youtube HERE

I trade to with with no SL or TP at all (diferent aproach on MM and TP)
I have never this performance/month (more like 500 to 3.5-4K/month but no more!)
I have no Eas to monitors my trades ,all manually.
My goal is to archive discipline and a small DD (Ideal under 5% ) under high volume of trades open in market
and to trade on diferent time frames (conventional & nonconvetional)
with diferent profit on diferent time frime.
I now is verry risky , but you contrabalance with LOM wen you are on negatv P/L
  • #1,709
  • Apr 9, 2013 8:42am Apr 9, 2013 8:42am
Quoting jackey
hi,all.EJ +16. Thanks Favorite for your system,very good strategy. {image}
nice trade
About UJ from yesterday afternoon a small test with LOM (GMT+1)
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpym1-2013.04.08- live LOM testing.png Size: 83 KB

CCI setings are fibonacci numbers
  • #1,710
  • Apr 9, 2013 8:46am Apr 9, 2013 8:46am
Quoting baccarat
I took this trade too but luckily exited at +5pips. I dont understand Favorite: to me it seems a legit abc pattern?
I also took this trade and i'm pretty sure I entered on the 2nd red babon candle, which on the screenshot is the 3rd black candle.

I'm assuming i'm wrong on my understanding of this?

thanks for everyone's help

RT
  • #1,711
  • Apr 9, 2013 8:52am Apr 9, 2013 8:52am
Quoting alba9567
Oooooops. Stopped out at 129.11 (-23 pips) {image}
Whats your reasoning behind the trade? I can find only "nos", no "yes"
  • #1,712
  • Apr 9, 2013 8:58am Apr 9, 2013 8:58am
Quoting dj083
Favorite, did i make the right entry according to the rules on this pic? I entered where i marked the black arrow at with circle. {image}
i think you should ook at tma 5.. it's opinting up,
and, these are days of uptrend,
so, i think, it's better to look at long opportunity, and if you want to tak some short, be careful and go for less pips..

remember, the biggest enemy is your greed:

i have a question for you: how mny pips did you took today, before these trade?
  • #1,713
  • Apr 9, 2013 9:01am Apr 9, 2013 9:01am
hi all..

being father is tiring!!


i'd like to thank Fav, you are making a very good work!

and i'd like to say to all:


loose some pips,

if you win all the trades,

in some year foreign exchange market will disappear!!!!!!
  • #1,714
  • Apr 9, 2013 9:14am Apr 9, 2013 9:14am
Quoting baccarat
I took this trade too but luckily exited at +5pips. I dont understand Favorite: to me it seems a legit abc pattern?
Quoting RougeTrader
I also took this trade and i'm pretty sure I entered on the 2nd red babon candle, which on the screenshot is the 3rd black candle. I'm assuming i'm wrong on my understanding of this? thanks for everyone's help RT
Guys, as you remember we don't care about the Japanese candles themselves, we care about the color change confirmation. What you call the first black candle - the color hasn't changed at all, you can see it looking at the Babon. When the second black candle closed - the same, you can see that Babon above this candle is only half red. And only the third black Japanese candle is our first candle, when it closed Babon was red and stayed red. So only the next candle is our second Babon candle, I marked it with the vertical line. If you didn't pay attention to the color change - please just watch M1 for 30-60 minutes, you'll see.

Now about the Price Action. Before we sell I want to see lower high and lower low that has been formed. I marked 3 black rectangles. 1-st is the original high, second the original low, third the lower high. But we don't have the lower low, that means that Price Action doesn't support this entry.
Attached Image (click to enlarge)
Click to Enlarge Name: m1-eurjpy.gif Size: 173 KB
Gentlemen always play by the rules. If they can't, they change the rules.
  • #1,715
  • Apr 9, 2013 9:22am Apr 9, 2013 9:22am
Quoting Favorite
Guys, as you remember we don't care about the Japanese candles themselves, we care about the color change confirmation. What you call the first black candle - the color hasn't changed at all, you can see it looking at the Babon. When the second black candle closed - the same, you can see that Babon above this candle is only half red. And only the third black Japanese candle is our first candle, when it closed Babon was red and stayed red. So only the next candle is our second Babon candle, I marked it with the vertical line. If you didn't pay attention...
Thanks Favorite, a very clear explanation

Not my day today so no more trading until tomorrow. Will try for a couple of hours before the London open

All the best

RT
  • #1,716
  • Apr 9, 2013 9:31am Apr 9, 2013 9:31am
Quoting alba9567
Oooooops. Stopped out at 129.11 (-23 pips)
alba9567, I can explain your mistake! The rules in the post 930 say:

Quote
And please pay attention to the previous candle, it is very important because the candle that is too long can cause a fake Babon Slope's signal! Don't enter if the previous candle is 10+ pips!

But you, as far as I understand, entered after the candle that was 15+ pips big.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #1,717
  • Apr 9, 2013 9:32am Apr 9, 2013 9:32am
Quoting RougeTrader
Thanks Favorite, a very clear explanation Not my day today so no more trading until tomorrow. Will try for a couple of hours before the London open All the best RT
You are welcome, RougeTrader, and thank you for asking questions! It is very important, everything must be clear!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #1,718
  • Apr 9, 2013 9:35am Apr 9, 2013 9:35am
Long at 129.73.

I belive my entry this time is much better.
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpymm1.png Size: 41 KB
  • #1,719
  • Apr 9, 2013 9:37am Apr 9, 2013 9:37am
Quoting bfree
Hello Every one! First sorry english I hope im not off topic I lurking around from some time, but i want to say all the time i try to find something what suit to me as potential trader. I still leaning, but i do not trade anymore demo or to make backtesting. because i prefer to be future oriented and no past oriented. A nice video can you find here on Youtube HERE I trade to with with no SL or TP at all (diferent aproach on MM and TP) I have never this performance/month (more like 500 to...
Hi bfree!

Welcome aboard!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #1,720
  • Apr 9, 2013 9:40am Apr 9, 2013 9:40am
Closed out for +9 pips at 129.82
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