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Daytrading/scalping with high leverage - my proven strategy

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  • #1,941
  • Apr 11, 2013 4:26am Apr 11, 2013 4:26am
Quoting Favorite
No, just M1's local High. We trade M1, so for us the M1's highs and lows are important.
i was worried you would say that but could you please expand a little on it? there will always be some local high or low; for example you re-entered trade last night, there was a local low created. or you wouldnt enter because the local high was created at the top of TMA?
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  • #1,942
  • Apr 11, 2013 4:31am Apr 11, 2013 4:31am
Quoting Favorite
I don't trade demo and I don't trade $100 account. For me it is not easy, on the contrary. If you don't like it - go to the thread where topic-starter does what you want him to do. I can assure you that you won't be a boss of me (nobody will be) and I will do only what I want to do, only the way I want and only when I want to. As I said before - take it or leave it (or DNA will leave it for you)..
Hi Favorite.

I was not trying to boss any one ,just suggesting so people could see exact entry on their computer . Its a lot easier to learn the setups then.

chill .
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  • #1,943
  • Apr 11, 2013 4:39am Apr 11, 2013 4:39am
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  • #1,944
  • Edited 5:00am Apr 11, 2013 4:49am | Edited 5:00am
Quoting tonny47
for example you re-entered trade last night, there was a local low created. or you wouldnt enter because the local high was created at the top of TMA?
No, it was NOT a local high! It was a continuation of the down-trend, a lower high!


Quoting tonny47
i was worried you would say that but could you please expand a little on it? there will always be some local high or low
No, it is not the right approach! We have to look at the downtrend as at the continuation of lower lows and lower highs, we have to look at the uptrend as at the continuation of the higher highs and higher lows!

Guys, I don't want to be rude, but you really have to read at least one good book on Price Action! I don't mind to explain why I took this trade and passed that trade from the Price Action's point of view, but I can't teach you Price Action itself here, it is not a Price Action thread, it is the "Scalping with high leverage" thread!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #1,945
  • Apr 11, 2013 4:53am Apr 11, 2013 4:53am
Quoting colombino
Well, thanks a lot, now exits are completely clear to me
Sure! Any time!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #1,946
  • Apr 11, 2013 5:18am Apr 11, 2013 5:18am
Waited all night for the setup. Had to go and have a piss and get a beer , then just missed the entry long. I think i'll go back to my own style of trading longer term.

cheers..........ECO
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  • #1,947
  • Apr 11, 2013 5:18am Apr 11, 2013 5:18am
Now sell! TMA1 is above TM5. Expect for reversal.
  • #1,948
  • Apr 11, 2013 5:24am Apr 11, 2013 5:24am
Quoting mario777
Now sell! TMA1 is above TM5. Expect for reversal.
mmmmh...

remember two things:

the trend is your friend

your biggest enemy is your greed
  • #1,949
  • Apr 11, 2013 5:25am Apr 11, 2013 5:25am
sure, the example i gave when you re-entered short last night was a reverse situation of what I was pointing at.

think i know now what you mean about the local high, cheers!


Quoting Favorite
No, it was NOT a local high! It was a continuation of the down-trend, a lower high! No, it is not the right approach! We have to look at the downtrend as at the continuation of lower lows and lower highs, we have to look at the uptrend as at the continuation of the higher highs and higher lows! Guys, I don't want to be rude, but you really have to read at least one good book on Price Action! I don't mind to explain why I took this trade and passed that trade from the Price Action's point of view, but I can't teach you Price Action itself here, it...
  • #1,950
  • Apr 11, 2013 5:27am Apr 11, 2013 5:27am
Quoting dnabrasil
mmmmh... remember two things: the trend is your friend your biggest enemy is your greed
Its very powerful pattern by Favorite. I got 10 pips! thats 10%.
  • #1,951
  • Apr 11, 2013 5:28am Apr 11, 2013 5:28am
Well my friend….

Those are “difficult” days for me: i cannot write a lot in the forum,
You know, my new child, my wife, the market (yes, I still trade!!)…..

But read all, and really thank to Fav!!

Now, I’ll show you what everyone can do – ok, not every one, you should study some years of trading, before, but the result could be the same….

In these days I traded with Fav’s system, but sometime, well, often, I don’t really follow the rues…
You know that after some years of trading, you have a feeling with the price movement, so you try…

I’ve made a little change to my MM style: the stop loss will be 200, not 100:

Having less time to watch the chart, I decided to try to take half risk, and find I feel better!
Yes, you should make more trades, but now, thanking Fav, we have a very good system!
So, every time I open a trade, I make this math: i.e. equity 500$....lot size 500/200 = 2.5 $/pip
Making so you will gain 10% of the account every 20 pips..

The goal should be 20 pips a day, or 100 pips a week, in order to double the account 2 times a month..
But, you know, sometime, well, often I do not follow the rules, (talking with Fav’s sign, I’m a gentleman) so I start with little $, like say 250, and when will reach the target of 5.000$, I will be satisfied with 100 pip per week…

Ok, now it’s time to show you my result of this week:
But before, pay attention at my last trade, I’ve putted a take profit, high, because after a break of this triangle some decent price action was expected… and remember we are in uptrend…. But I closed my trade,
I’ve just reached a very good goal, so I think: greed, greed, greed…. And decided to close!


p.s. yesterday, with new MM rule, i was long just before boj speach (bastards, not announced) and could close the trade after the tsunamy with little gain!!

you know, you should use a stop loss, everytime y0u enter in a trade... but i'm not you!!!!

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  • #1,952
  • Apr 11, 2013 5:32am Apr 11, 2013 5:32am
Hi Favorite,
you are not that worried about the distance since it was "TMA M1 beyond the Ichimoku cloud" pattern,
and what about m1 price action?
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sorry for my English
  • #1,953
  • Apr 11, 2013 5:38am Apr 11, 2013 5:38am
Quoting dnabrasil
mmmmh... remember two things: the trend is your friend your biggest enemy is your greed
Hi DNA,

Is the trend that important on the 1 min? I don't think so. Because we are trading noise (scalping) . Marios scalp was worth 6 to 10 pips and he called early . Thats not greedy.
Or do you mean after that long trade up don't be greedy, by taking another trade for the night (my time).

thanks .
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  • #1,954
  • Apr 11, 2013 5:39am Apr 11, 2013 5:39am
Quoting mario777
Its very powerful pattern by Favorite. I got 10 pips! thats 10%.
Mario, I'm glad that you like this pattern.

I personally use this pattern only for the exits, for me it predicts the pullback, so I have to take my profit and exit.

But you can trade this pattern successfully, just remember that it is a counter-trend trading, so you have to be very careful. But you set such a smart, reasonable goal, just 10 pips - no wonder you succeeded, good for you!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #1,955
  • Apr 11, 2013 5:41am Apr 11, 2013 5:41am
Quoting tonny47
think i know now what you mean about the local high, cheers!
That's great! Good for you!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #1,956
  • Apr 11, 2013 5:47am Apr 11, 2013 5:47am
Quoting Favorite
Mario, I'm glad that you like this pattern. I personally use this pattern only for the exits, for me it predicts the pullback, so I have to take my profit and exit. But you can trade this pattern successfully, just remember that it is a counter-trend trading, so you have to be very careful. But you set such a smart, reasonable goal, just 10 pips - no wonder you succeeded, good for you!
Yes, I like this pattern since its easy and 10 pips is always a winner as I look at my chart history.
  • #1,957
  • Apr 11, 2013 5:54am Apr 11, 2013 5:54am
Quoting jackey
Hi Favorite, you are not that worried about the distance since it was "TMA M1 beyond the Ichimoku cloud" pattern, and what about m1 price action?
jackey, when I trade this pattern I do care about M1 Price Action, but for "TMA M1 beyond the Ichimoku cloud" I don't insist on "higher low-lower high" setup! Any good Price Action setup would do!

In this particular case we see quite good breakout, so if I were trading at this moment, I would take this trade.
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Gentlemen always play by the rules. If they can't, they change the rules.
  • #1,958
  • Apr 11, 2013 5:58am Apr 11, 2013 5:58am
  •  Mr C
  • Joined Mar 2012 | Status: Knowledge is "potential" power | 439 Posts
Quoting fxdivergence
Hi Paul (Mr C) I was looking at your multiple TDI Indicator. 60min lacks resolution of trend. (see the valley in price) I have screen capture 15min and 5min TDI. I think 5min or 15min TDI should be okay. Divergence or reversals can be identify. Though I understand there many too many crossovers. Anyway, your indicator is looking good. Thanks fxD {image} {image} {image}
Thanks, this is what we are working on I will go over this on my charts, the M1 is fast we want the cherries..

Paul
Of all the things I've lost I miss my mind the most .
  • #1,959
  • Apr 11, 2013 6:01am Apr 11, 2013 6:01am
Quoting mario777
Yes, I like this pattern since its easy and 10 pips is always a winner as I look at my chart history.
Mario, TMA repaints, what you see on history and what it looked like in reality - two different things.

But yes - usually you can make 8-10 pips without problems. I just don't like counter-trend trading, but it is just my personal preference. I'm sure you'll trade this pattern just fine because you are not greedy.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #1,960
  • Apr 11, 2013 6:07am Apr 11, 2013 6:07am
  •  Mr C
  • Joined Mar 2012 | Status: Knowledge is "potential" power | 439 Posts
Quoting condor666
Ok it sounds logical
It's back again and resistant to flush, I need a new fix, any news from our friends at COMODO.

Thanks, Paul


Sorry I can't answer PM's right now they don't send only receive, Dan I can tell you we are adding alerts and it wont be long sorry.
Of all the things I've lost I miss my mind the most .
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