Favorite - before you go off sipping vintage port on a Caribbean Island somewhere, any chance of getting your input on how this might best work using M15.
Mike
Mike
Daytrading/scalping with high leverage - my proven strategy
- Linked: 1 Lot - 1.000 $ | Brokerage Account XXX82
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- #2,942
- Apr 22, 2013 12:25pm Apr 22, 2013 12:25pm
I uploaded "Lance Beggs' summary for Babon traders" here: http://www.4shared.com/file/W7RL1Ax4...or_Babon_.html
- #2,945
- Apr 22, 2013 2:32pm Apr 22, 2013 2:32pm
- | Membership Revoked | Joined May 2011 | 2,976 Posts
Gentlemen always play by the rules. If they can't, they change the rules.
- #2,946
- Apr 22, 2013 2:33pm Apr 22, 2013 2:33pm
- | Membership Revoked | Joined May 2011 | 2,976 Posts
Today + 57% of the deposit!
Gentlemen always play by the rules. If they can't, they change the rules.
- #2,947
- Apr 22, 2013 2:42pm Apr 22, 2013 2:42pm
- | Membership Revoked | Joined May 2011 | 2,976 Posts
Gentlemen always play by the rules. If they can't, they change the rules.
{quote} handy148, I could explain how to adjust Babon for M5, but I have to be very careful answering your question because M15 is not my cup of tea, I stopped trading M15 almost a year ago. I created this system for M1 only. I'm not sure whether M15 Babon's modification would be worth it because I think M15 needs much bigger SL, at least 25 pips. And at the same time we'll have much less trades. Is it worth to wait half of day to enter into the trade that can bring 30+ pips profit but can also bring 25 pips loss? But if you want to try anyway you...
- #2,949
- Apr 22, 2013 3:13pm Apr 22, 2013 3:13pm
- | Membership Revoked | Joined May 2011 | 2,976 Posts
{quote} Hy Favorite i would like to see your ideas about how this system can adopt to 5min trading....
You'll need bigger SL, probably 15 pips for majors, 20 pips for crosses, but you'll have to test.
You'll need to test several different Babon Slope's settings between 15 and 25 and find the best one.
For Babon-B you'll need to have a different set of TMAs (M5, M15 and M30).
You'll have to test, which TMA is better for Babon-A, TMA M15 or TMA M30.
And, of course, I can't guarantee that all this would work because I created Babon specifically for M1.
Gentlemen always play by the rules. If they can't, they change the rules.
- #2,951
- Apr 22, 2013 3:28pm Apr 22, 2013 3:28pm
- | Membership Revoked | Joined May 2011 | 2,976 Posts
How is it going work on Dashboard?
Thanks Favorite, I will stick to 1min for now as there are writen rules and plan which is great (why change something so good)!!
Gentlemen always play by the rules. If they can't, they change the rules.
- #2,954
- Apr 22, 2013 4:23pm Apr 22, 2013 4:23pm
{quote} handy148, I could explain how to adjust Babon for M5, but I have to be very careful answering your question because M15 is not my cup of tea, I stopped trading M15 almost a year ago. I created this system for M1 only. I'm not sure whether M15 Babon's modification would be worth it because I think M15 needs much bigger SL, at least 25 pips. And at the same time we'll have much less trades. Is it worth to wait half of day to enter into the trade that can bring 30+ pips profit but can also bring 25 pips loss? But if you want to try anyway you...
My name is Martin... Martin Gale
- #2,955
- Apr 22, 2013 4:45pm Apr 22, 2013 4:45pm
I modified it a little bit here is the final version of the template :
My name is Martin... Martin Gale
- #2,956
- Apr 22, 2013 4:51pm Apr 22, 2013 4:51pm
For trading M15 i suggest maximum leverage 50 that means 1 lot every 2.000$ with emergency stoploss at 40 pips (that's 20%)
Like shown on the screenshot it's a 100 pips trade so that means that you could make +50% in one trade and that would be sufficient for one day :
Like shown on the screenshot it's a 100 pips trade so that means that you could make +50% in one trade and that would be sufficient for one day :
My name is Martin... Martin Gale
- #2,957
- Apr 22, 2013 10:02pm Apr 22, 2013 10:02pm
Nice thread. Thanks you guys for getting me inspired and back into trading after a hiatus... First trade, grabbed 6 pips on the USD/JPY...
I'm REALLY bummed that spreads have widened on Oanda -- used to be 1.2 EUR/USD and .9 on USD/JPY, now its horrible, fluctating between 1.5 and 2, or sometimes even higher. I'm a US resident,... and i'm on a limited budget until I prove my salt... I know its off topic but please PM me any broker suggestions.
Meanwhile I'll keep trying some trades and posting some results Cheers!
I'm REALLY bummed that spreads have widened on Oanda -- used to be 1.2 EUR/USD and .9 on USD/JPY, now its horrible, fluctating between 1.5 and 2, or sometimes even higher. I'm a US resident,... and i'm on a limited budget until I prove my salt... I know its off topic but please PM me any broker suggestions.
Meanwhile I'll keep trying some trades and posting some results
Cheers!
- #2,958
- Apr 23, 2013 12:07am Apr 23, 2013 12:07am
Another +5 on USD/JPY ... even with bad spread for scalping.
Not a good trade IMO -- way too aggressive on longer term chart... Must
overcome my IMPATIENCE...biggest weakness as a trader.
But thanks Favorite
Not a good trade IMO -- way too aggressive on longer term chart... Must
overcome my IMPATIENCE...biggest weakness as a trader.
But thanks Favorite
