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Daytrading/scalping with high leverage - my proven strategy

  • Linked: 1 Lot - 1.000 $ | Brokerage Account XXX82
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  • #2,381
  • Apr 17, 2013 12:11am Apr 17, 2013 12:11am
Quoting Favorite
No, he did everything right, I took the same trade but waited a little longer. It is a naked "TMA M1 beyond the Ichimoku cloud" trading, and I entered after a very nice breakout. Please take a look at the Summary post on page 156, article 16, I explained there what we need for the naked pattern trading and what we don't need. And about the news - this news is not important, it is not high-impact news, once again, read my Summary post (page 156) what I said in the article 2 "When to trade and when not to trade". {image}
Why did you stay in longer? I can only wish I did

And that is the exact same breakout i took glad im on the right track!
  • #2,382
  • Apr 17, 2013 12:13am Apr 17, 2013 12:13am
Quoting Dreamliner
I have not read this thread yet, but on initial examination the profit/loss on the first page looks horrible. Losing system. Is that explorer not accurate?
No offence, but you should at least read the whole thread before saying "a losing system".
Gentlemen always play by the rules. If they can't, they change the rules.
  • #2,383
  • Apr 17, 2013 12:14am Apr 17, 2013 12:14am
Quoting Dreamliner
I have not read this thread yet, but on initial examination the profit/loss on the first page looks horrible. Losing system. Is that explorer not accurate?
Dreamliner

From my point of view...in this thread you can find (at least) 2 different things:


1 trading style (DNA) - high R/R transactions, something like "Free Account Milking"...i guess you know that thread
1 trading system (Favourite) - Babon (beautiful presented in post #2326), fast and profitable scalping system

The story about the explorer is long and funny (see the first pages) but have nothing to do with Babon system

Good day an green pips to all!
Look like a girl, act like a lady, think like a man and work like a dog.
  • #2,384
  • Apr 17, 2013 12:16am Apr 17, 2013 12:16am
Quoting dvanderlinde
Why did you stay in longer? I can only wish I did And that is the exact same breakout i took glad im on the right track!
dvanderlinde, I stayed longer mostly because of my experience, but I also like the H1 picture, it is possible that we'll break the TMA H1 and TMA H4 upper border.
Attached Image
Gentlemen always play by the rules. If they can't, they change the rules.
  • #2,385
  • Apr 17, 2013 12:18am Apr 17, 2013 12:18am
Quoting Favorite
dvanderlinde, I stayed longer mostly because of my experience, but I also like the H1 picture, it is possible that we'll break the TMA H1 and TMA H4 upper border. {image}
okay thanks!

Could an exit possibly be to wait for 5 min TMA Lower band to hit the Price at the previous lows? Does this make sense?
  • #2,386
  • Apr 17, 2013 12:22am Apr 17, 2013 12:22am
Quoting dvanderlinde
okay thanks! Could an exit possibly be to wait for 5 min TMA Lower band to hit the Price at the previous lows? Does this make sense?
No, sorry, it is too complicated.

You can exit at:
TMA M1
TMA M5
TMA M15
TMA H1

The stronger the movement, the higher the goal. It was a very strong movement, so I waited until the price almost hit TMA H1
Gentlemen always play by the rules. If they can't, they change the rules.
  • #2,387
  • Apr 17, 2013 12:23am Apr 17, 2013 12:23am
Quoting Favorite
No, sorry, it is too complicated. You can exit at: TMA M1 TMA M5 TMA M15 TMA H1 The stronger the movement, the higher the goal. It was a very strong movement, so I waited until the price almost hit TMA H1
kk sounds fair enough to me! Thanks for the reply
  • #2,388
  • Apr 17, 2013 12:25am Apr 17, 2013 12:25am
Just took a short counter trend trade for +7 pips
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  • #2,389
  • Apr 17, 2013 12:33am Apr 17, 2013 12:33am
Quoting dvanderlinde
Just took a short counter trend trade for +7 pips
Gentlemen always play by the rules. If they can't, they change the rules.
  • #2,390
  • Apr 17, 2013 1:12am Apr 17, 2013 1:12am
I took a short on break of a previous resistance, although it was in the cloud I felt there should be a good retrace from the up exited at 5 min TMA

+13 pips

Is this a viable trade or did I just get lucky and broke the rules?

Thanks

PS: Im up 50% on my account from the past two days! My goal is to double every week!
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  • #2,391
  • Apr 17, 2013 1:39am Apr 17, 2013 1:39am
Quoting dvanderlinde
I took a short on break of a previous resistance, although it was in the cloud I felt there should be a good retrace from the up exited at 5 min TMA +13 pips Is this a viable trade or did I just get lucky and broke the rules? Thanks PS: Im up 50% on my account from the past two days! My goal is to double every week! {image}
1. write the rules on a sheet of paper
2. check if valid

easy
Look like a girl, act like a lady, think like a man and work like a dog.
  • #2,392
  • Apr 17, 2013 1:42am Apr 17, 2013 1:42am
Quoting dvanderlinde
I took a short on break of a previous resistance, although it was in the cloud I felt there should be a good retrace from the up exited at 5 min TMA +13 pips Is this a viable trade or did I just get lucky and broke the rules? Thanks PS: Im up 50% on my account from the past two days! My goal is to double every week! {image}
Was it naked "TMA M1 beyond the Ichimoku cloud" pattern? Though TMA M5 angle was misleading, it was going up. I'm new to this system, but wasn't it against the rules?
  • #2,393
  • Apr 17, 2013 1:47am Apr 17, 2013 1:47am
Quoting Simonik
1. write the rules on a sheet of paper 2. check if valid easy
I agree!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #2,394
  • Apr 17, 2013 1:49am Apr 17, 2013 1:49am
+25 pips in two trades, I'm done for today!

I exited the second trade when it became obvious that we encountered a strong support and trend started to change.
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Gentlemen always play by the rules. If they can't, they change the rules.
  • #2,395
  • Apr 17, 2013 2:09am Apr 17, 2013 2:09am
Hello people.
Jo this is for you !
including comision ....this IS the best part
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edit:
for anybody to !
  • #2,396
  • Edited 2:52am Apr 17, 2013 2:28am | Edited 2:52am
Great battle on Scalpers!
Its a 30 min. masacre!
i haved to swich on 10 sec. frames and tick charts
Range 4~7 pips on EJ
and 6~9 pips on GJ
was a hell lot of fun.

Thank you Favorite .
You are right about EJ
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...or better stick to the rules !

Edit:
Ups ! Some mistakes...
  • #2,397
  • Apr 17, 2013 2:45am Apr 17, 2013 2:45am
Quoting bfree
Thank you Favorite . You are right about EJ
Yes, I'm ALWAYS right, I got used to it!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #2,398
  • Apr 17, 2013 2:50am Apr 17, 2013 2:50am
took 1 trade at the first read line for a loss...how do you deal with choppy area like this? (i see bfree mentioned he switched to 10sec, but not sure if i can deal with that lol)

second 1 was quick 12 pips profit in just over a minute
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  • #2,399
  • Apr 17, 2013 2:59am Apr 17, 2013 2:59am
Quoting tonny47
took 1 trade at the first read line for a loss...how do you deal with choppy area like this? (i see bfree mentioned he switched to 10sec, but not sure if i can deal with that lol) second 1 was quick 12 pips profit in just over a minute
tonny47, good for you! But the naked pattern trading had much bigger potential, you could go to the red line, making 35-40 pips.

And about the first trade: I would never enter it, the Price Action was not right. Besides I think it was too close to the upper yellow line.
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Gentlemen always play by the rules. If they can't, they change the rules.
  • #2,400
  • Apr 17, 2013 3:02am Apr 17, 2013 3:02am
thanks Favorite, still so much to learn about price action!

Quoting Favorite
tonny47, good for you! But the naked pattern trading had much bigger potential, you could go to the red line, making 35-40 pips. And about the first trade: I would never enter it, the Price Action was not right. Besides I think it was too close to the upper yellow line. {image}
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