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Daytrading/scalping with high leverage - my proven strategy

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  • #3,841
  • May 9, 2013 4:02am May 9, 2013 4:02am
Okay I took this countertrend within the cloud, very risky but I'm not even watching the cloud at the moment, just PRICE ACTION...HH - LL -LH - SELLL!!....+20. Best trading day in a very long time. So far 10+30+10+20 = 70 pips...taking it easy now, catch up on sleep
Attached Image (click to enlarge)
Click to Enlarge Name: counter trend best.png Size: 66 KB
Island hopping throughout the Caribbean
  • #3,842
  • May 9, 2013 4:06am May 9, 2013 4:06am
Quoting dumplin_eater
Okay I took this countertrend within the cloud, very risky but I'm not even watching the cloud at the moment, just PRICE ACTION...HH - LL -LH - SELLL!!....+20. Best trading day in a very long time. So far 10+30+10+20 = 70 pips...taking it easy now, catch up on sleep {image}
Well that went very badly for me. I stupidly took a long when it was still in the cloud (i know it's against the rules)

i went to get a drink, came back and my SL had been hit -15

bad start to the day
  • #3,843
  • May 9, 2013 4:07am May 9, 2013 4:07am
hi dumplineater, i dont think your LH was confirmed when you entered but nevertheless, great results!
Quoting dumplin_eater
Okay I took this countertrend within the cloud, very risky but I'm not even watching the cloud at the moment, just PRICE ACTION...HH - LL -LH - SELLL!!....+20. Best trading day in a very long time. So far 10+30+10+20 = 70 pips...taking it easy now, catch up on sleep {image}
  • #3,844
  • May 9, 2013 4:08am May 9, 2013 4:08am
Quoting ber_tdf
{quote} Hi RT, as you know I use a different system as the Favorite and we agree only when looking for entry quite similar to Babon-A template. Considering this, the only thing I can recommend is: - Do not look at the chart of 1M until to be clear about what you want to search, that is, you first need to know if you are looking for long or short with Favorite H1 chart or something similar to that I use (explain briefly here http://www.forexfactory.com/showthre...91#post6606791). - Once you know the trend wait to find the "perfect"...
Thanks for the info Bernardo

I will try using the M15 with the 50EMA and see how it goes

cheers

RT
  • #3,845
  • May 9, 2013 4:12am May 9, 2013 4:12am
Quoting tonny47
hi dumplineater, i dont think your LH was confirmed when you entered but nevertheless, great results! {quote}
From my indi, the lower high was at 130.136, entered with the hook of Babon downwards at 130.079.......
Island hopping throughout the Caribbean
  • #3,846
  • May 9, 2013 4:17am May 9, 2013 4:17am
hi all
eurjpy
25 pip

thank's mike
Attached Image (click to enlarge)
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  • #3,847
  • May 9, 2013 4:18am May 9, 2013 4:18am
Quoting dumplin_eater
{quote} From my indi, the lower high was at 130.136, entered with the hook of Babon downwards at 130.079.......
Hi Dumplin Eater

pleae can you post the indi.............. is it just a variation of the zigzag one in MT4?

cheers

RT
  • #3,848
  • May 9, 2013 4:19am May 9, 2013 4:19am
Quoting dnaplanning
hi all eurjpy 25 pip thank's mike {image}
Thank you dna planning and brazil.......learnt a lot from you guys
Island hopping throughout the Caribbean
  • #3,849
  • May 9, 2013 4:20am May 9, 2013 4:20am
Quoting RougeTrader
{quote} Hi Dumplin Eater pleae can you post the indi.............. is it just a variation of the zigzag one in MT4? cheers RT
Already did, see previous page
Island hopping throughout the Caribbean
  • #3,850
  • May 9, 2013 4:23am May 9, 2013 4:23am
Quoting dumplin_eater
{quote} Thank you dna planning and brazil.......learnt a lot from you guys
anytime
  • #3,851
  • May 9, 2013 4:23am May 9, 2013 4:23am
if the price reversed right after you went short, you indi wouldnt show you the lower high at that point and would repaint. again, you made some pips off it which is good of course

Quoting dumplin_eater
{quote} From my indi, the lower high was at 130.136, entered with the hook of Babon downwards at 130.079.......
  • #3,852
  • May 9, 2013 4:24am May 9, 2013 4:24am
Quoting dumplin_eater
{quote} Already did, see previous page
got it

thanks
  • #3,853
  • May 9, 2013 4:35am May 9, 2013 4:35am
Quoting tonny47
if the price reversed right after you went short, you indi wouldnt show you the lower high at that point and would repaint. again, you made some pips off it which is good of course {quote}
Very true, the main reason why I entered was the hook of babon, as you can see from the chart there was a previous Babon entry but it was flat, I remember Mike saying something about the angle of the Babon indicator to determine your entry and it finally dawned on me a couple days ago. So its a confluence of things that determine entry
Island hopping throughout the Caribbean
  • #3,854
  • May 9, 2013 5:21am May 9, 2013 5:21am
nevermind me, i am just being jealous because you are up so much for today and i am flat for a day so you should assume certain level of grumpiness from me took like 6 breakeven trades
Quoting dumplin_eater
{quote} Very true, the main reason why I entered was the hook of babon, as you can see from the chart there was a previous Babon entry but it was flat, I remember Mike saying something about the angle of the Babon indicator to determine your entry and it finally dawned on me a couple days ago. So its a confluence of things that determine entry
  • #3,855
  • May 9, 2013 5:26am May 9, 2013 5:26am
Quoting Copperbot
Hello Everyone: I haven't posted in a while as I have been testing this system, and I trade at work so it's hard to do all three. I just caught up on the thread and I have to say that really understanding price action has transformed my trading. I opened a 10K demo account and the first 2 days in I had it down to 3.5K - I was a little discouraged, but I just kept on learning PA and identifying why the trades that I made didn't work out. Exactly 1 week after my account dipping so far down I now have a balance of over 20K and I feel like I am almost...
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #3,856
  • May 9, 2013 5:31am May 9, 2013 5:31am
Quoting Copperbot
Hello Everyone: I haven't posted in a while as I have been testing this system, and I trade at work so it's hard to do all three. I just caught up on the thread and I have to say that really understanding price action has transformed my trading. I opened a 10K demo account and the first 2 days in I had it down to 3.5K - I was a little discouraged, but I just kept on learning PA and identifying why the trades that I made didn't work out. Exactly 1 week after my account dipping so far down I now have a balance of over 20K and I feel like I am almost...
Hi Copperbot

Very good! bet you wish it was a real account

Are you using DNA's MM - 1% per pip
  • #3,857
  • May 9, 2013 5:47am May 9, 2013 5:47am
another BE countertrend trade eurusd just half a pip away from my target. if my stop was just 0.1 pip bigger, i would still be in
anyway, need to catch up on some things i didnt do yday because i was glued to computer
  • #3,858
  • May 9, 2013 5:51am May 9, 2013 5:51am
Quoting tonny47
nevermind me, i am just being jealous because you are up so much for today and i am flat for a day so you should assume certain level of grumpiness from me took like 6 breakeven trades {quote}

What you're going through today is the story of my life I was never profitable and then today I doubled my account.......crazy......it makes me ask the question the wtf was i doing for all those years
Island hopping throughout the Caribbean
  • #3,859
  • May 9, 2013 6:03am May 9, 2013 6:03am
Quoting dumplin_eater
Okay I took this countertrend within the cloud, very risky but I'm not even watching the cloud at the moment, just PRICE ACTION...HH - LL -LH - SELLL!!....+20. Best trading day in a very long time. So far 10+30+10+20 = 70 pips...taking it easy now, catch up on sleep {image}
nice results. I think that with proper following HH-HL price action I dont need to look at H1 at all. What do you think?
And do you look on the angle of M1 TMA or it doesn't matter for you?
  • #3,860
  • May 9, 2013 6:07am May 9, 2013 6:07am
great to hear you did well today but personally i dont get why people use such an aggressive money management. sorry to sound negative but i think people using such money management will have once in a while 1 bad day which is going to wipe their account entirely. nothing personal here, just see people trading some crazy proportions of their accounts.
if you only make 5% a day on your account with starting balance of 100 dollars, you would end up with nearly 20 million in one year if you have no losing day (assuming 250 trading days in a year). 20 mil sounds crazy but surely most people would be happy with lot less

Quoting dumplin_eater
{quote} What you're going through today is the story of my life I was never profitable and then today I doubled my account.......crazy......it makes me ask the question the wtf was i doing for all those years
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