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Daytrading/scalping with high leverage - my proven strategy

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  • #2,221
  • Apr 15, 2013 11:21am Apr 15, 2013 11:21am
Hi Copperbot,

I'll let favorite put his input on this one, however i'll give you my input.

1. If you look back there's a candle with a huge upper wick signaling strong resistance in that area "a load of supply" if you look back at the 1 hour chart you'll see that was a strong area of previous support

2. Price is approaching the upper 5 TMA

3. The preceding bullish candle is more than 10 pips, favorite doesn't recommend you enter based on that.

Quoting Copperbot
So seem to be the only one not winning with this system. I know the problem is me. Everything seemed okay with this trade, but I still lost! Please excuse the arrow, i am using paint on windows XP. That was where I entered, I though price action was supporting an upward movement. Not sure where I went wrong. Please help. {image}
  • #2,222
  • Apr 15, 2013 11:22am Apr 15, 2013 11:22am
the line i drew, standard PA sr, it even came back to test nicely, if that doesn't click consider putting a current timeframe TMA on your chart, in the world of pullback PA entry avoiding selling into what id wager was the low of the current TF TMA may help get you on track

(disclaimer: there are many on this thread much better versed on this subject than i, just my 38 cents )
Attached Image (click to enlarge)
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  • #2,223
  • Apr 15, 2013 11:22am Apr 15, 2013 11:22am
Quoting dnabrasil
"doubling the account in only one trading day it's impossible" well, me too was thinking bout it, so i decided to double it 2 times!! {image}
Hi DNA ,

Very impressive results . You have a stoploss of 200 pips , but you closed the trades much earlier befor reaching a profit or stoploss. I don't understand your entry and exit rules . I have attached one example from your charts .
Attached Image(s) (click to enlarge)
Click to Enlarge Name: DNA1.jpg Size: 10 KB
Click to Enlarge Name: DNA2.jpg Size: 35 KB
  • #2,224
  • Apr 15, 2013 11:26am Apr 15, 2013 11:26am
Quoting sk2
Hi DNA , Very impressive results . You have a stoploss of 200 pips , but you closed the trades much earlier befor reaching a profit or stoploss. I don't understand your entry and exit rules . I have attached one example from your charts . {image} {image}
Hi, Sk2!

This is not DNA's chart. It's my chart with DNA's trade.
Let's go with the flow
  • #2,225
  • Apr 15, 2013 11:27am Apr 15, 2013 11:27am
Quoting perfectgrim
template ill be running tonight on several pairs mtf ma meter settings 5min 5ma 5min 10ma 5min 25ma 5min 50ma also running a new csm brought to the light by reyeswhite ill get detailed if this template holds up for abit
perfectgrim, thank you very much, it is a very important thing you're doing, so please keep us informed.

Thank you.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #2,226
  • Apr 15, 2013 11:39am Apr 15, 2013 11:39am
Quoting Copperbot
So seem to be the only one not winning with this system. I know the problem is me. Everything seemed okay with this trade, but I still lost! Please excuse the arrow, i am using paint on windows XP. That was where I entered, I though price action was supporting an upward movement. Not sure where I went wrong. Please help.
Everything that perfectgrim and erod84 said is true. I can add one more thing: it is not a good idea to trade at this time of the day. I usually finish all the trading by 11:00 AM EST and I try not to open new trades after 10:00 AM EST. You can't trade effectively when the Europe's going to close and America's getting ready to go to lunch.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #2,227
  • Apr 15, 2013 11:43am Apr 15, 2013 11:43am
Quoting artem_t
Hi, Sk2! This is not DNA's chart. It's my chart with DNA's trade.
Sorry. Maybe you can explain me the entry and exit rules .
  • #2,228
  • Apr 15, 2013 11:44am Apr 15, 2013 11:44am
Quoting alba9567
My second trade TM1 outside Ichimoku but unfortunately stopped out for -10 pips.
alba9567, you have to trade either by the Rules from post 930 or just naked "TMA M1 beyond the Ichimoku cloud" pattern, you can't do both.

If you entered according to the rules from post 930 - you broke the rules, you entered after a long candle and too close to TMA M5.

If you traded TMA pattern with pure Price action - I can't see any Price Action signal or pattern that would trigger the entry.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #2,229
  • Apr 15, 2013 11:53am Apr 15, 2013 11:53am
Sorry I didn't post my 2 other trades taken earlier, promise i'll do better tomorrow. But I reached my goal 40 pips for today, i'm done trading for today.

See you all at European open.
  • #2,230
  • Apr 15, 2013 11:54am Apr 15, 2013 11:54am
Quoting Favorite
Everything that perfectgrim and erod84 said is true. I can add one more thing: it is not a good idea to trade at this time of the day. I usually finish all the trading by 11:00 AM EST and I try not to open new trades after 10:00 AM EST. You can't trade effectively when the Europe's going to close and America's getting ready to go to lunch.
Great, thanks for your input. I will stop trading for the day and come back tomorrow with fresh eyes and renewed faith.
  • #2,231
  • Apr 15, 2013 11:55am Apr 15, 2013 11:55am
Quoting Copperbot
Great, thanks for your input. I will stop trading for the day and come back tomorrow with fresh eyes and renewed faith.
Good for you!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #2,232
  • Apr 15, 2013 11:56am Apr 15, 2013 11:56am
Quoting erod84
Sorry I didn't post my 2 other trades taken earlier, promise i'll do better tomorrow. But I reached my goal 40 pips for today, i'm done trading for today. See you all at European open.
erod84, what is important - you're making money and you know when to take a break!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #2,233
  • Apr 15, 2013 12:03pm Apr 15, 2013 12:03pm
Thanks Favorite, you bet. I never get greedy ever. When I hit my daily goal, that's it. I don't even demo trade just take the remainder of day off.

"you're making money"

That's for sure. I'm up well over $1k today with this system alone.

Quoting Favorite
erod84, what is important - you're making money and you know when to take a break!
  • #2,234
  • Apr 15, 2013 12:16pm Apr 15, 2013 12:16pm
Quoting erod84
I'm up well over $1k today with this system alone.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #2,235
  • Apr 15, 2013 12:56pm Apr 15, 2013 12:56pm
OK, this time naked TMA M1 beyond the Ichimoku for +15 pips.

I entered after the break of support.
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  • #2,236
  • Apr 15, 2013 1:06pm Apr 15, 2013 1:06pm
Good))
Attached Image (click to enlarge)
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  • #2,237
  • Apr 15, 2013 1:37pm Apr 15, 2013 1:37pm
alba9567 and Alex1932, very nicely done! Text-book trades!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #2,238
  • Apr 15, 2013 3:03pm Apr 15, 2013 3:03pm
Quoting Favorite
"Since I have the skills and the right tools, I can always put YOUR piece of butter on MY piece of bread!"
This was...EPIC!!!!
  • #2,239
  • Edited 3:35pm Apr 15, 2013 3:16pm | Edited 3:35pm
Quoting mario777
Bernardo, yes please share. Many Thanks!
Mario, has been useful to you (or someone) ? I ask because today I was thinking it would be a good idea to add a filter to only make screenshots when an open order is in progress. What do you think ? Some interest ?

Bernardo.
  • #2,240
  • Apr 15, 2013 3:20pm Apr 15, 2013 3:20pm
Quoting bfree
This was...EPIC!!!!
Yes, it is one of my favorite quotes!

But the guy was really good, he could open a safe with a small pin!
Gentlemen always play by the rules. If they can't, they change the rules.
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