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Daytrading/scalping with high leverage - my proven strategy

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  • #1,861
  • Apr 10, 2013 9:52am Apr 10, 2013 9:52am
Quoting condor666
Sometimes i've bad feelings and now i've many stress
Hi Condor, I was not entirely clear for me, you are long before or after the BOJ interview ?

Bernardo.
  • #1,862
  • Apr 10, 2013 10:01am Apr 10, 2013 10:01am
Before, approx 15 minutes before
My name is Martin... Martin Gale
  • #1,863
  • Apr 10, 2013 10:04am Apr 10, 2013 10:04am
Quoting condor666
Before, approx 15 minutes before
Ups... I presume that without stop loss ?
  • #1,864
  • Apr 10, 2013 10:06am Apr 10, 2013 10:06am
Sure...
I locked the trade but only 70 pips later
My name is Martin... Martin Gale
  • #1,865
  • Apr 10, 2013 11:09am Apr 10, 2013 11:09am
Quoting condor666
Sure... I locked the trade but only 70 pips later
Ouch. This just reinforces the need to have some kind of a stop/lock set for any trade, and especially the EJ that is capable of such fast moves. And this move was just because of the release of notes from and interview with BOJ's Kuroda with journalists. Interesting that it apparently happened right on the hour. Here is the info I found on it: http://www.forexlive.com/blog/2013/0...netary-policy/

Again, thanks to Fav and DNA and other contributors.
  • #1,866
  • Apr 10, 2013 12:16pm Apr 10, 2013 12:16pm
Quoting toadkelly200
Favorite, Thanks for all of your work here. I hope that I do not interject something to cause problems, but I have been capturing screen shots every minute for about 3 days now so that I can go back and look things over when I have time, especially after they have been discussed here. I was able to pull up the image taken that ended with the start of the long down candle at 8:00 EST. It appears that at the time, TMA M1 was still below TMA M5 and that TMA M1 was not seen to be above TMA M5 until about 8 minutes after the hour. I am attaching the...
Thank you, toadkelly200! It is very nice of you!

Yes, you are right, your picture shows there were no pattern at this moment!

But of course everything I said about the situation except the pattern is still right, so anybody who followed the rules would do just fine.

Thank you again!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #1,867
  • Apr 10, 2013 12:21pm Apr 10, 2013 12:21pm
Quoting toadkelly200
Ouch. This just reinforces the need to have some kind of a stop/lock set for any trade, and especially the EJ that is capable of such fast moves.
Absolutely! I recommend 15 pips emergency stop, I personally use locks, but it doesn't matter - you have to have either SL or lock, I would never trade without that, and the currency doesn't matter - I've seen USDCAD making 100+ move in a couple of minutes.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #1,868
  • Apr 10, 2013 12:23pm Apr 10, 2013 12:23pm
The problem was that i wanted absolutely to make some pips and now i got my lesson.
My name is Martin... Martin Gale
  • #1,869
  • Edited 1:47pm Apr 10, 2013 1:05pm | Edited 1:47pm
Quoting colombino
My second question is about SL or leaving this trade. When would you leave this trade, turned opposite direction, in this case? Babon/cloud cross or you would leave it for your 15p SL (lock)?
First of all I don't understand why you showed the entry at 11:24? I said many times - we enter at the SECOND color change candle! And the second color change candle is at 11:25 where I show it.

Second, I would never enter this trade. It is obvious that the price formed the local low and now is going up. Price Action - one of the most important elements of the system (and of the entry rules).

Third, I explained many times - you can exit because of the Babon color change, but if you see that the price goes into the Ichimoku cloud - you have to have VERY good reasons not to exit (maybe you can stay if you see a very good "TMA M1 beyond the Ichimoku cloud" pattern). Obviously here we don't see any good reasons, no reasons at all because we shouldn't enter in the first place.

Fourth, I explained many times - 15 pips is our EMERGENCY stop! In case something sudden like today's high-impact news happens! We don't wait until our stop gets hit!
Attached Image (click to enlarge)
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Gentlemen always play by the rules. If they can't, they change the rules.
  • #1,870
  • Apr 10, 2013 1:14pm Apr 10, 2013 1:14pm
Quoting colombino
I'm going through your examples and live charts, but for me it's still unclear how do you define swing H and swing L for you HH HL definition. Some of your examples were a bit confusing. A swing is defined by babon color change? Or fractal, or just the feeling of the chart? I my chart I market bigger green swings and small red swings. Which you would use? According to red swings we are still in downtrend. (I admit last red H is so so) So in 1M TF everything according your rules. (except a bit sidewise move in 1H TF)
No, it is not according to my rules. Please read post 930 and watch pictures I provided in the posts 1804 and 1816. If my pictures in #1804 and #1816 are a bit confusing - then I give up because I just can't explain it better and show it better.

Where did you get an idea about swings defined by Babon or by fractals? When I say "Price Action" - I mean Price Action, not Babon, not fractals, not "the feeling of the chart" (whatever it is)
Attached Image (click to enlarge)
Click to Enlarge Name: 3.jpg Size: 356 KB
Gentlemen always play by the rules. If they can't, they change the rules.
  • #1,871
  • Apr 10, 2013 1:14pm Apr 10, 2013 1:14pm
hello, favorite can u pls check ur private message as i have sent u one....thanks.
  • #1,872
  • Apr 10, 2013 1:30pm Apr 10, 2013 1:30pm
Quoting Favorite
First of all I don't understand why you showed the entry at 11:24? I said many times - we enter at the SECOND color change candle! And the second color change candle is at 11:25 where I show it. Second, I would never enter this trade. It is obvious that the price formed the local low and now is going up. Price Action - one of the most important elements of the system (and of the entry rules). Third, I explained many times - you can exit because of the Babon color change, but if you see that the price goes into to Ichimoku cloud - you have to have...
Hello Favorite
Thanks for the time you lose for us.
I attach my graph should correspond to your you posted.
I'm GMT +1 and m should be right. As you can see my Babon is different from your chart. Use your settings 10,3,0. Could essre with the broker quotes a little bit different?
As you can see the signs of Babon can be very different for these decisions also different, inevitable on TF 1 Min
Thanks for the reply.

Hello
Attached Image (click to enlarge)
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  • #1,873
  • Apr 10, 2013 1:42pm Apr 10, 2013 1:42pm
Quoting Matrix8756
Hello Favorite Thanks for the time you lose for us. I attach my graph should correspond to your you posted. I'm GMT +1 and m should be right. As you can see my Babon is different from your chart. Use your settings 10,3,0. Could essre with the broker quotes a little bit different? As you can see the signs of Babon can be very different for these decisions also different, inevitable on TF 1 Min Thanks for the reply.
Hi Matrix8756!

Yes, there is a little difference.

Babon Slope is a very accurate indicator and it depends on the price heavily. The price difference between different brokers could be 1-2 pips, it is normal, but since we trade M1 it could affect Babon Slope a little bit. I'm not very happy about that, but it is more or less normal. We don't just rely on Babon Slope, we have a system with a set of rules (including also Price Action evaluation).
Gentlemen always play by the rules. If they can't, they change the rules.
  • #1,874
  • Apr 10, 2013 1:55pm Apr 10, 2013 1:55pm
Quoting Favorite
Hi Matrix8756! Yes, there is a little difference. Babon Slope is a very accurate indicator and it depends on the price heavily. The price difference between different brokers could be 1-2 pips, it is normal, but since we trade M1 it could affect Babon Slope a little bit. I'm not very happy about that, but it is more or less normal. We don't just rely on Babon Slope, we have a system with a set of rules (including also Price Action evaluation).
Ok.
Of course everything right.
Thanks again and keep up the Favorite to tell us your position and your tips.
Hello again
  • #1,875
  • Apr 10, 2013 1:57pm Apr 10, 2013 1:57pm
Quoting Matrix8756
Ok. Of course everything right. Thanks again and keep up the Favorite to tell us your position and your tips. Hello again
Thank you, Matrix8756! I'll do my best!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #1,876
  • Edited Apr 11, 2013 2:21am Apr 10, 2013 4:42pm | Edited Apr 11, 2013 2:21am
Hi Guys, observing that Favorite mentions in many cases you do not expect to form the second candle I modified the code of the indicator so when:

 

  1. ShowArrows = TRUE -> wait for the second candle to show the arrow

  1. Filter1M = TRUE -> shows the arrow according to some conditions of previous candle in 1M

  1. Filter5M = TRUE -> shows the arrow according to some conditions of previous candle in 5M

  1. EMAFilter = TRUE -> shows the arrow according to the tendency of the EMA


Also I change the type of arrow for a point to be more bearable visually.

As always I hope you find it useful.

P.S.: now comes with the same values ​​as used by Favorite... I use 18/20.

Regards, Bernardo.

[Edit] I change the colors to be exactly like those used by Favorite.

[Edit] Fix bug.

Attached File(s)
File Type: mq4 Hull Ma.mq4   13 KB | 334 downloads
  • #1,877
  • Apr 10, 2013 5:07pm Apr 10, 2013 5:07pm
A really good "TMA M1 beyond the Ichimoku cloud" pattern allows us to make very good pips all the time. I don't usually trade at this time of the day (and it's time for me to go to bed), but I saw the pattern forming and everything else was right, so I entered and then re-entered and made 33 pips (12 and 21).
Attached Image (click to enlarge)
Click to Enlarge Name: m1-eurjpy.gif Size: 89 KB
Gentlemen always play by the rules. If they can't, they change the rules.
  • #1,878
  • Apr 10, 2013 5:52pm Apr 10, 2013 5:52pm
  •  Mr C
  • Joined Mar 2012 | Status: Knowledge is "potential" power | 439 Posts
Quoting Favorite
A really good "TMA M1 beyond the Ichimoku cloud" pattern allows us to make very good pips all the time. I don't usually trade at this time of the day (and it's time for me to go to bed), but I saw the pattern forming and everything else was right, so I entered and then re-entered and made 33 pips (12 and 21). {image}
You beat me

Paul

Just testing did not cash in.
Attached Image (click to enlarge)
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Of all the things I've lost I miss my mind the most .
  • #1,879
  • Apr 10, 2013 9:47pm Apr 10, 2013 9:47pm
Favorite can u pls clarify as i am little confused on your description of second color candle change. According to me first Red color candle is the one from where price went below cloud then babon turned blue and then second Red color candle color change is the one before doji candle which u highlighted but the red color candle you are saying is the 3rd red color candle change, isnt it so if you see th diagram ?

Please let me know as it confusing me which color change candle to consider first.


thanks.

Quoting Favorite
No, it is not according to my rules. Please read post 930 and watch pictures I provided in the posts 1804 and 1816. If my pictures in #1804 and #1816 are a bit confusing - then I give up because I just can't explain it better and show it better. Where did you get an idea about swings defined by Babon or by fractals? When I say "Price Action" - I mean Price Action, not Babon, not fractals, not "the feeling of the chart" (whatever it is) {image}
  • #1,880
  • Apr 10, 2013 10:25pm Apr 10, 2013 10:25pm
Quoting alij79
Favorite can u pls clarify as i am little confused on your description of second color candle change. According to me first Red color candle is the one from where price went below cloud then babon turned blue and then second Red color candle color change is the one before doji candle which u highlighted but the red color candle you are saying is the 3rd red color candle change, isnt it so if you see th diagram ? Please let me know as it confusing me which color change candle to consider first. thanks.

Hi Alij79

Please post 1719

Cheers

RT
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