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Daytrading/scalping with high leverage - my proven strategy

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  • #3,721
  • May 7, 2013 3:09pm May 7, 2013 3:09pm
Quoting aduarte
{quote} Why don´t you post your charts, to see what was wrong őr not?
I will do so when I make my next mistake.

ALso, I have a feeling that my commission may be causing trouble. I have to pay $15 on just shorting EUR/USD, using 2 lots, 1:500 leverage. What do you think? For scalping, it feels like too much maybe?
  • #3,722
  • May 7, 2013 3:30pm May 7, 2013 3:30pm
hey aduarte, can you please share your trades? ideally chart or just your trade details

Quoting aduarte
{quote} It is so bad. that I have done 143% today.
  • #3,723
  • May 7, 2013 4:52pm May 7, 2013 4:52pm
Quoting aduarte
{quote} It is so bad. that I have done 143% today.
Hi Aduarte

Very impressive return 143% in one day!!! Awesome!!!

What % of account are you using per trade and across how many pips stop??? I use 20% across 20 so using 1% per pip. Leads to good returns on winners but not so hot when you lose.

How many winners and losers do you have in a typical day??

Are you using DNA's money management of 100plus pip stops and smaller winners????

Many thanks in advance if you answer these questions.

By the way could you post your trades as you go if possible, would be a great help to the rest of us.

Cheers Clive.
Feel the Fear and do it anyway!!!
  • #3,724
  • May 7, 2013 6:43pm May 7, 2013 6:43pm
Quoting Tok
{quote} I will do so when I make my next mistake. ALso, I have a feeling that my commission may be causing trouble. I have to pay $15 on just shorting EUR/USD, using 2 lots, 1:500 leverage. What do you think? For scalping, it feels like too much maybe?
$15 isn't unusual. That's 1.5 pip spread so while some brokers will have lower (.5-.8), I doubt that is the problem with profit/loss. Post your past trades & I'm sure there will be plenty traders that will explain the problems or if the trade just didn't work out. No system has a 100% success rate. If you're trading with cash, use smaller amounts until you get the system figured out.
  • #3,725
  • May 7, 2013 7:08pm May 7, 2013 7:08pm
Ok, here is my most recent trade.

Stopped out again at 15 pip SL....

As you can see, price was below the cloud, PA was trending down, I entered late on the trend, but I still followed all the rules, and entered on the second close.

http://i40.tinypic.com/2yxiruo.png
  • #3,726
  • May 7, 2013 8:11pm May 7, 2013 8:11pm
Quoting Tok
Ok, here is my most recent trade. Stopped out again at 15 pip SL.... As you can see, price was below the cloud, PA was trending down, I entered late on the trend, but I still followed all the rules, and entered on the second close. {image}
Tok,

I don't trade this method, but do find it intriguing and have been following the thread for some time.

All due respect, I don't believe you were following the rules. Entry would have/should have been when the channel comes out of the cloud - somewhere around or just before the arrow I placed. Your entry seems incredibly late, and doesn't leave much room for profit as the move is mostly over by then.

Just my two cents - I will leave it for the more devoted thread followers to follow up.

Thanks
M
Attached Image (click to enlarge)
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  • #3,727
  • May 7, 2013 8:51pm May 7, 2013 8:51pm
Quoting Tok
Ok, here is my most recent trade. Stopped out again at 15 pip SL.... As you can see, price was below the cloud, PA was trending down, I entered late on the trend, but I still followed all the rules, and entered on the second close. {image}
- Which currency pair are you trading? It does not look like it involves the Yen.
- Why not stick to the currency pair which the trading system was designed for (EURJPY) until you have become proficient at trading the system?
- Have you read the rules regarding trading times? You are trading outside the recommended trading session for the currency pair.
- Why do you 'enter late on the trend'? Would you consider it to be a high probability trade if you enter late?
- What was the distance to the TP at the time of entry? Ie, the entry point to the M5/M15 TMA lines?
- What did your higher timeframe analysis (H1,H4) tell you?
- The distance between the two arrows marked on the chart is not -15 pips. How can you get stopped out? Do you mean 1.5 pips? If you are on a five digit broker then you have an extra decimal you have to account for. A 1.5 pip stop is unrealistic.
  • #3,728
  • May 7, 2013 8:54pm May 7, 2013 8:54pm
Quoting Xaphod
{quote} - Which currency pair are you trading? It does not look like it involves the Yen. - Why not stick to the currency pair which the trading system was designed for (EURJPY) until you have become proficient at trading the system? - Have you read the rules regarding trading times? You are trading outside the recommended trading session for the currency pair. - Why do you "enter late on the trend"? - What was the distance to the TP at the time of entry? Ie, the enrty point to the M5/M15 TMA lines? - What did your higher timeframe analysis (H1,H4)...
It does not involve the yen. I read that you could use this system with any currency pair.

Also, I always check H1 and H4 before going into M1. H1 has to agree, or else I don't enter. H4 can disagree, but if it does, ill stay in for a shorter time.

And I lowered my SL as the price decreased (Like a TS). Or am I not suppose to do that?

And why would the time I trade matter, as long as there is a good setup visible?

Thanks.
  • #3,729
  • May 7, 2013 9:02pm May 7, 2013 9:02pm
This method is ridiculous...

Literally every uptrend, M1 is outside of M5 and M15. Yet, the rules say this is going to result in a pullback and we shouldn't trade this. In that case, this method doesn't even provide enough entries to make it worth while...
  • #3,730
  • May 7, 2013 9:10pm May 7, 2013 9:10pm
Just missed out on a 40 pip move because I followed this ridiculous "don't trade if M1 is above M5" rule.
  • #3,731
  • May 7, 2013 10:01pm May 7, 2013 10:01pm
Quoting Tok
{quote} It does not involve the yen. I read that you could use this system with any currency pair.

Every pair has it's characteristics. Should a method work on everything - yes, in theory. But that isn't always the case, and any trader that has been at it for some time will probably agree that there is no guarantee how long this method may work with this pair.

And I lowered my SL as the price decreased (Like a TS). Or am I not suppose to do that? And why would the time I trade matter, as long as there is a good setup...
Just spent a moment asking myself why I was even responding here. As mentioned in my previous post, I don't even trade with this method, BUT..... I can see the value in it (as well as the flaws), and it is a workable method. Guess I am sensing some real frustration in your trading overall, and that may be sign to step back for a bit and re-evaluate things. This thread overall has had a good vibe, and seems there are lots of people willing to help. My recommendation - re-read the thread, and maybe focus on finding the disconnect in your understanding of the method.
  • #3,732
  • May 7, 2013 11:19pm May 7, 2013 11:19pm
Quoting Tok
{quote} It does not involve the yen. I read that you could use this system with any currency pair. Also, I always check H1 and H4 before going into M1. H1 has to agree, or else I don't enter. H4 can disagree, but if it does, ill stay in for a shorter time. And I lowered my SL as the price decreased (Like a TS). Or am I not suppose to do that? And why would the time I trade matter, as long as there is a good setup visible? Thanks.
The time you trade matters because there is usually less volume during asian session and more volume during london and NY. But you can trade the high volatile pair like EJpy or GJPy suring asian sessions also. If its not an yen pair why would you trade it during asian session and then bitch about why the system is not working for you??
you are the one who is ridiculous.
If you entered the TMA M1 beyond cloud pattern , there is no rule that states that you shouldnt enter if the TMA M5 or M15 is near your entry.
The classic babon entry rules doesnt apply to the TMA M1 beyond cloud pattern.
http://www.forexfactory.com/attachme...7&d=1366125624

http://www.forexfactory.com/attachme...5&d=1366125624

If you entered based upon classic babon entry then show me the 5 point wave pattern on your chart. Now the 5-point wave pattern isnt compulsory, but it shows us right price action.
H - L - LH - LL - LH (for shorts)
L- H - HL - HH - HL (for longs)


Read the rules again and complete thread . there are more than 100 trades shown here or else Stop making ridiculous comments and GTFO.
  • #3,733
  • May 7, 2013 11:31pm May 7, 2013 11:31pm
[quote=Winner1245;6664311]{quote} If you entered the TMA M1 beyond cloud pattern , there is no rule that states that you shouldnt enter if the TMA M5 or M15 is near your entry. The classic babon entry rules doesnt apply to the TMA M1 beyond cloud pattern.

I missed that important point. I'll re-read the Fav's PDF. Thank you Winner.
Jeff
  • #3,734
  • May 7, 2013 11:37pm May 7, 2013 11:37pm
Quoting jeff75
If you entered the TMA M1 beyond cloud pattern , there is no rule that states that you shouldnt enter if the TMA M5 or M15 is near your entry. The classic babon entry rules doesnt apply to the TMA M1 beyond cloud pattern. I missed that important point. I'll re-read the Fav's PDF. Thank you Winner. Jeff
hmmm yes. Only h1 "big picture" is the common rule
  • #3,735
  • May 8, 2013 12:59am May 8, 2013 12:59am
Quoting Tok
Ok, here is my most recent trade. Stopped out again at 15 pip SL.... As you can see, price was below the cloud, PA was trending down, I entered late on the trend, but I still followed all the rules, and entered on the second close. {image}
Following the discussion and trying to put my piece of contribution (a bit late, but I was sleeping ).

- I do not see the babon-slope indicator in the picture. It is the key of the entry. The picture is babon-b template, which is used for the exits.

- you have entered with TMA1 and TMA5 pointing down, but being the price closer to the lower band than to the higher band. You need to enter closer the upper band (if shorting). For this purpose, drawing the mid line of the TMA1 helps. If you look closer to the picture, you will see that using the babon-slope plus the mid line, the moment to enter is quite before (namely when InminentEdge says in his post, where TMA1 fully goes out of the cloud, but after that there is another clear entry point, when price pierces the upper TMA1 band). You have entered with not much room for the trade to progress.

Which is the pair in the picture? I would like to have a look at it when I get home (in some hours ).

Hope this helps. Comments and critics are welcome.

happy pips

gonso
  • #3,736
  • May 8, 2013 2:19am May 8, 2013 2:19am
hi Tok, as other people here pointed out, you dont seem to have strong understanding of rules. i am by no means expert and still have a lot to learn and still go to review the rules now and again.

seems like you have entered very late so it shouldnt come as surprise that your profit potential had diminished. i am struggling to find your particular entry place on the chart. i assume its audnzd but it would be great if i could see the price at which you entered to make it easier to find - you picture seems cropped and only can see 1.2

Quoting Tok
Ok, here is my most recent trade. Stopped out again at 15 pip SL.... As you can see, price was below the cloud, PA was trending down, I entered late on the trend, but I still followed all the rules, and entered on the second close. {image}
  • #3,737
  • May 8, 2013 2:21am May 8, 2013 2:21am
classic one - wish all of them were so easy to see +13
Attached Image (click to enlarge)
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  • #3,738
  • May 8, 2013 2:24am May 8, 2013 2:24am
Quoting tonny47
classic one - wish all of them were so easy to see +13 {image}
My Trade Idem
Good
  • #3,739
  • May 8, 2013 2:27am May 8, 2013 2:27am
Morning all

I took this through the clouds trade earlier. Thought there would be a small pullback and then continue up.

Unfortunately didn't work out as it reversed. Out for -4
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  • #3,740
  • May 8, 2013 2:31am May 8, 2013 2:31am
Hi Tonny, Did you enter the previous Buy trade as well which is at 5:45 on your chart??
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