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Daytrading/scalping with high leverage - my proven strategy

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  • #1,801
  • Apr 10, 2013 5:40am Apr 10, 2013 5:40am
Look like a girl, act like a lady, think like a man and work like a dog.
  • #1,802
  • Apr 10, 2013 5:42am Apr 10, 2013 5:42am
Quoting Veracruz
I didn't find any explanation about how you interpret TMA's on TF 1H. - Do you mean that only trade when Tf1H the trend is up or down? - Babon 2 1H Template goes with the follows TMA: 1 (black), 5 (yellow), 15 (red), 60 (blue) and 240 (brown), but in fact only are visible TMA's 60, 240, because the rest of the TMA's are only visible on TF 1M. If are not relevant for TF1H, why this TMA's are included on Babon 2? - Babon 1 1M- goes with only TMA 5M, but in your pictures you show TMA 1M (black) as a powerful pattern to keep in mind when they cross...
Hi Veracruz!

I won't answer to your questions about H1, TMA H1 and TMA H4 because as I said I'm going to include H1 rules in the new summary post and I want the wordage to be perfect, so I don't want to confuse people giving right now half-thought H1 explanations. We use two templates together because each of them has its own task: Babon-A is for the entries only, that's why it contains only three indicators that are important at the entry point. We also watch Price Action on Babon-A so I wanted to make it as less crowded as possible. Babon-B is for the exits and for watching the patterns, that's why it contains 3 TMAs and Ichimoku. I don't want to have the third template, that's why Babon-B contains 3 TMAs on M1 and 2 TMAs on H1.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #1,803
  • Apr 10, 2013 5:47am Apr 10, 2013 5:47am
Quoting mario777
Favorite, Im still learning through my mistake. Many thanks for pointing it.
mario777, that's cool!

I want you to get the picture below and save it and print it and put it where you'll see it all the time.
Attached Image (click to enlarge)
Click to Enlarge Name: m1-usdcad.gif Size: 184 KB
Gentlemen always play by the rules. If they can't, they change the rules.
  • #1,804
  • Apr 10, 2013 5:52am Apr 10, 2013 5:52am
Quoting Favorite
Hi Veracruz! I won't answer to your questions about H1, TMA H1 and TMA H4 because as I said I'm going to include H1 rules in the new summary post and I want the wordage to be perfect, so I don't want to confuse people giving right now half-thought H1 explanations. We use two templates together because each of them has its own task: Babon-A is for the entries only, that's why it contains only three indicators that are important at the entry point. We also watch Price Action on Babon-A so I wanted to make it as less crowded as possible. Babon-B is...
Many thanks for your explanation. I was quite interested in TMA Babon2 interpretation.
I'll wait with interest the new summary.
  • #1,805
  • Apr 10, 2013 6:01am Apr 10, 2013 6:01am
Quoting Favorite
mario777, that's cool! I want you to get the picture below and save it and print it and put it where you'll see it all the time. {image}
Thank you so much for the effort to post your chart. Yes Id print it out. Do we need to wait for the break of that Lower Low to confirm the PA and enter?
  • #1,806
  • Apr 10, 2013 6:01am Apr 10, 2013 6:01am
Watch out: EJ - UJ and UCad same pattern at the same time.
  • #1,807
  • Apr 10, 2013 6:06am Apr 10, 2013 6:06am
Favorite here is my latest chart. Notice the red boxes are in LH and LL. I was expecting the price to go to the last red box on the yellow line as my TP. Is my PA interpration right?Thanks for your patience.
Attached Image (click to enlarge)
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  • #1,808
  • Apr 10, 2013 6:07am Apr 10, 2013 6:07am
Quoting mario777
Favorite, Im still learning through my mistake. Many thanks for pointing it.

Mario, I know how you feel, but the idea is not to enter to all possible entries only the "entry" that gives you higher potential benefits in terms of risk... most of the time is reduced to a game of patience and over time is achieved with greater clarity.

Regards, Bernardo.
  • #1,809
  • Apr 10, 2013 6:09am Apr 10, 2013 6:09am
Quoting mario777
Yes Id print it out.
Good for you! I hope you're not the only one!

Quoting mario777
Do we need to wait for the break of that Lower Low to confirm the PA and enter?
Ideally - yes. But in reality we can lose a lot of good entries if we wait too long. I would say after we see the Lower Low formed and confirmed (that means price has been at the Second Lower High) we can take a good Babon signal even before the price breaks the Lower Low.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #1,810
  • Apr 10, 2013 6:11am Apr 10, 2013 6:11am
Quoting Favorite
mario777, first time you broke the rules but got lucky and won 8 pips. Second time you broke the rules again. Why do you think that the Price Action is so good? I think this time you're gonna run out of luck.
Just to keep it clear: I understand why the first entry was wrong, but which exactly rule do you mean about his second entry? Little distance to TMA M5 (about 12 pips at that moment) or something else?

Thank you in advance!
Attached Image (click to enlarge)
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Let's go with the flow
  • #1,811
  • Apr 10, 2013 6:19am Apr 10, 2013 6:19am
Quoting ber_tdf
Mario, I know how you feel, but the idea is not to enter to all possible entries only the "entry" that gives you higher potential benefits in terms of risk... most of the time is reduced to a game of patience and over time is achieved with greater clarity. Regards, Bernardo.
yes. I think its really a big winner if I wait for the 2 Fav's formation to form. Patience is the key.
  • #1,812
  • Apr 10, 2013 6:26am Apr 10, 2013 6:26am
Quoting artem_t
Just to keep it clear: I understand why the first entry was wrong, but which exactly rule do you mean about his second entry? Little distance to TMA M5 (about 12 pips at that moment) or something else? Thank you in advance!
artem_t, his (and yours) Price Action's interpretation at this (second) time was correct, but first of all I'm sure that at the moment the distance to TMA M5 was only about 10 pips, second, and much more important, he either didn't look at the H1 or didn't bother to interpret it. It was absolutely obvious that we just had a relatively small pullback, kind of profit-taking, that the up-trend was still in tact and that the price can go up any minute. And, of course, that happened!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #1,813
  • Edited 6:41am Apr 10, 2013 6:30am | Edited 6:41am
Quoting mario777
Favorite here is my latest chart. Notice the red boxes are in LH and LL. I was expecting the price to go to the last red box on the yellow line as my TP. Is my PA interpration right?Thanks for your patience.
No, you ignored some of the LH and LL.

Mario, let's make a deal: you read some good book on Price Action (I would recommend Lance Beggs) and keep my pictures in front of your eyes for at least a week, OK? Because it is not your fault, it is not that easy to master.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #1,814
  • Apr 10, 2013 6:31am Apr 10, 2013 6:31am
Quoting Favorite
artem_t, his (and yours) Price Action's interpretation at this (second) time was correct, but first of all I'm sure that at the moment the distance to TMA M5 was only about 10 pips, second, and much more important, he either didn't look at the H1 or didn't bother to interpret it. It was absolutely obvious that we just had a relatively small pullback, kind of profit-taking, that the up-trend was still in tact and that the price can go up any minute. And, of course, that happened!
Absolutely agree about H1. Just wanted to be sure that we didn't miss anything at our M1 chart.

Thank you!
Let's go with the flow
  • #1,815
  • Apr 10, 2013 6:32am Apr 10, 2013 6:32am
Quoting mario777
yes. I think its really a big winner if I wait for the 2 Fav's formation to form. Patience is the key.
Mario, why didn't you enter here?
Attached Image (click to enlarge)
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Gentlemen always play by the rules. If they can't, they change the rules.
  • #1,816
  • Apr 10, 2013 6:47am Apr 10, 2013 6:47am
Quoting Favorite
Mario, why didn't you enter here? {image}
Yes, I missed this one . Thanks again. Need more practice. Perfect practice makes perfect. And you showed the way.
  • #1,817
  • Apr 10, 2013 6:51am Apr 10, 2013 6:51am
Quoting mario777
Yes, I missed this one .
Well, probably it is my fault too - I distracted you with my posts and pictures. I already made my daily goal so I just watch EURJPY and keep talking...

But I'm really serious about reading Price Action book. That would be good for you. You can google Lance Beggs, I think you can find his e-book even here, at the ForexFactory.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #1,818
  • Apr 10, 2013 7:10am Apr 10, 2013 7:10am
  •  Mr C
  • Joined Mar 2012 | Status: Knowledge is "potential" power | 439 Posts
Quoting Favorite
Mario, why didn't you enter here? {image}
I had my eye on that one, it's a perfect compliment to post 1804 with practice they stick out, You can have the best lock in the world but if you don't close the door it's not so handy, if you don't follow the rules it's not a system.

Mike, I never seen you give so much , we are lucky.

Paul
Of all the things I've lost I miss my mind the most .
  • #1,819
  • Apr 10, 2013 7:12am Apr 10, 2013 7:12am
Quoting artem_t
Hello, Pipsninja! In addition to what Fav has already answered to you about this trade, I could just add that it was about five minutes before Frankfurt open. At market opens price can go in any direction - no matter what it did before. I don't mean that we shouldn't take trades before market opens, but it's a risk we need to recognize.
I don't know the reason of this drop, but right at NY open. Here is the importance of SL.

Edit: BOJ member's interview..
Attached Image (click to enlarge)
Click to Enlarge Name: 2013-04-10 16_06_27_eurjpy.png Size: 16 KB
Let's go with the flow
  • #1,820
  • Apr 10, 2013 7:27am Apr 10, 2013 7:27am
Quoting artem_t
I don't know the reason of this drop, but right at NY open. Here is the importance of SL. Edit: BOJ member's interview.. {image}
I was long...
My name is Martin... Martin Gale
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