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Daytrading/scalping with high leverage - my proven strategy

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  • #3,921
  • May 10, 2013 5:03am May 10, 2013 5:03am
Quoting tonny47
ok, now this start being embarrasing... long eurusd with 6 pips loss, tma5 sloping down... {image}
Expect the price to behave in ugly manner when its near one of these levels.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 233 KB
  • #3,922
  • May 10, 2013 5:22am May 10, 2013 5:22am
thanks for the explanation Winner, looks good. But pivot lines depends on your broker time. For instance my R1 is at 132.24 whereas yours is 10 pips lower. so not sure what to do regarding that
Quoting Winner1245
{quote} Its very simpe . Take Ct trades only when price hits/ breaks one of those levels. Any level its doesnt matter. It can be R1,r2 or s1 ,s2 or mid level pivots etc. And the normal rules apply. when TMA M1 breaks and goes inside the TMA M5 , price should either break or touch any one of the levels , and then when the TMA M1 turns horizontal , check whether babon changed color and enter with a predetermined target of 10 pips . Stop loss can be outside the level or around 10-13 pips for EJ. It will hit your target most of the time. Yesterday until...
  • #3,923
  • May 10, 2013 5:24am May 10, 2013 5:24am
Quoting tonny47
thanks for the explanation Winner, looks good. But pivot lines depends on your broker time. For instance my R1 is at 132.24 whereas yours is 10 pips lower. so not sure what to do regarding that{quote}
hmmm, there are some adjustable timeframe pivot indicators . I guess you can find them in the platform tech forum.
  • #3,924
  • May 10, 2013 5:28am May 10, 2013 5:28am
Quoting tonny47
thanks for the explanation Winner, looks good. But pivot lines depends on your broker time. For instance my R1 is at 132.24 whereas yours is 10 pips lower. so not sure what to do regarding that{quote}
If you want to use pivots, use this indicator. It allows you to set the start time of the day. This way you are not depending on your brokers start time. Remember, the forex day starts with the NY close and the Sydney Open.

Anyway, you can compare your lines to this chart, http://www.actionforex.com/markets/p...2010040848154/ . Use the daily pivot numbers to compare. You will not be exact on every line, but within a few pips is good.

Also, I have used pivots for a long time. Seems to me that the TMAs act as a dynamic S/R as well. Not sure you need both. Might just be more clutter on your screen.
Attached File(s)
File Type: mq4 SDX-TzPivots_v4.1.mq4   41 KB | 321 downloads
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #3,925
  • May 10, 2013 5:30am May 10, 2013 5:30am
i wasnt using your indi since i am having a bit of troubles to upload any indis to my plaftorm. not sure why. might need to reinstal the whole pc but too lazy to do that at the moment.

anyways, i am using this one and you can set the time there too. i am using london time, but then again what is the best time for pivot line calculations... i have attached indi i am using
Quoting Winner1245
{quote} hmmm, there are some adjustable timeframe pivot indicators . I guess you can find them in the platform tech forum.
Attached File(s)
File Type: mq4 fxbc_S&R_pivots.mq4   17 KB | 357 downloads
  • #3,926
  • May 10, 2013 5:33am May 10, 2013 5:33am
omg, i cannot believe i just did this. it is easily the most idiotic trade i have made in a while. the trade was up about 13 pips within a minute and my stop was at break even. but i moved the stop which resulted in a loss of 12 pips....
Attached Image (click to enlarge)
Click to Enlarge Name: 10 may eurjpy trade 7.gif Size: 23 KB
  • #3,927
  • May 10, 2013 5:43am May 10, 2013 5:43am
theoretically yes, forex day can start with Sydney open but then again S/R is somewhat self-fulfilling prophecy and not sure how many people actually use Sydney close settings. Also from the website you have provided, figures are very different to Winners (R1= 132.14), my one R1=132.24 and actionforex website says its 131.88. quite a difference

Quoting capstone
{quote} If you want to use pivots, use this indicator. It allows you to set the start time of the day. This way you are not depending on your brokers start time. Remember, the forex day starts with the NY close and the Sydney Open. Anyway, you can compare your lines to this chart, http://www.actionforex.com/markets/p...2010040848154/ . Use the daily pivot numbers to compare. You will not be exact on every line, but within a few pips is good. Also, I have used pivots for a long time. Seems to me that...
  • #3,928
  • May 10, 2013 5:46am May 10, 2013 5:46am
dukaskopy website gives the same R1 as i have
http://www.dukascopy.com/swiss/engli...etwatch/pivot/
livecharts gives R1 132.07
http://www.livecharts.co.uk/Members/...rex_pivots.php
very subjective thing these pivot points...


Quoting capstone
{quote} If you want to use pivots, use this indicator. It allows you to set the start time of the day. This way you are not depending on your brokers start time. Remember, the forex day starts with the NY close and the Sydney Open. Anyway, you can compare your lines to this chart, http://www.actionforex.com/markets/p...2010040848154/ . Use the daily pivot numbers to compare. You will not be exact on every line, but within a few pips is good. Also, I have used pivots for a long time. Seems to me that...
  • #3,929
  • May 10, 2013 6:41am May 10, 2013 6:41am
after a short break i took this countertrend trade. its shown as two entries because mt4 wanted to update the software so bad that it didnt let me use it the software at all. all happened when i was already in a trade. then it updated with a default setting of 1-click trading option so it closed my trade when i just clicked to check something else , so i waited for a slight pullback to get in again +9+12 pips
up about 32 pips today, think i will call it a day
Attached Image (click to enlarge)
Click to Enlarge Name: 10 may eurjpy trade 8.png Size: 38 KB
  • #3,930
  • May 10, 2013 6:47am May 10, 2013 6:47am
Hi tony,
My r1 is at 132.08 . And today's daily pivot is at 130.83
Its correct
here is the website. Just type in the previous day values
My vlues are O 130.19 , high 131.75, L 129.58, C 131.16
http://www.pivotpointcalculator.com/
  • #3,931
  • May 10, 2013 6:56am May 10, 2013 6:56am
it depends what you consider to be correct. at different websites are different pivot values based on different broker time as i pointed out few posts above.
Quoting Winner1245
Hi tony, My r1 is at 132.08 . And today's daily pivot is at 130.83 Its correct here is the website. Just type in the previous day values My vlues are O 130.19 , high 131.75, L 129.58, C 131.16 http://www.pivotpointcalculator.com/
  • #3,932
  • May 10, 2013 7:08am May 10, 2013 7:08am
10ish pips, I chicken out when price stall

PA was good but TMA M5 is still going up, not sure if it was good.
Attached Image (click to enlarge)
Click to Enlarge Name: forex.png Size: 83 KB
  • #3,933
  • May 10, 2013 7:22am May 10, 2013 7:22am
this trade manager ea is killing me. i am using lvoe but as i updated it woulnd let me to drag and drop lines around at all to change my stops and target!
  • #3,934
  • May 10, 2013 7:30am May 10, 2013 7:30am
Quoting tonny47
it depends what you consider to be correct. at different websites are different pivot values based on different broker time as i pointed out few posts above.{quote}
Exactly. That is why a lot of people reject pivots in total. That is probably why Fav chose to rely on price action and TMA's. In the moment, they are the same on everyone's screen.
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #3,935
  • May 10, 2013 7:36am May 10, 2013 7:36am
i am not sure if i would personally taken that trade, i think i would wait for a pullback there first (.... and i would miss it altoghether lol).
10 pips - good for you

Quoting Khem
10ish pips, I chicken out when price stall PA was good but TMA M5 is still going up, not sure if it was good. {image}
  • #3,936
  • May 10, 2013 8:14am May 10, 2013 8:14am
Took this trade for a quick 10. standard babon trade Total +56
Attached Image (click to enlarge)
Click to Enlarge Name: babon.png Size: 67 KB
Island hopping throughout the Caribbean
  • #3,937
  • May 10, 2013 8:24am May 10, 2013 8:24am
ok took couple more pips but now i am really done for the day with 46 pips! Lets see how it goes next week Favorite - i am sure you are missing the thread (probably not haha)!
  • #3,938
  • May 10, 2013 8:24am May 10, 2013 8:24am

Quoting dumplin_eater
Took this trade for a quick 10. standard babon trade Total +56 {image}
  • #3,939
  • May 10, 2013 8:33am May 10, 2013 8:33am
would definitely recommend people here to instal yesterday high/low indicator (attached). surely important level, although daily highs and low can be occasionally different. price was playing around this level a lot on eurusd


Quoting capstone
{quote} Exactly. That is why a lot of people reject pivots in total. That is probably why Fav chose to rely on price action and TMA's. In the moment, they are the same on everyone's screen.
Attached File(s)
File Type: ex4 Yesterday High & Low.ex4   4 KB | 358 downloads
  • #3,940
  • May 10, 2013 8:42am May 10, 2013 8:42am
ok i think i need to start bombarding this thread less with my posts because i end up missing on this action
although i said i am done for the day, its just breaking my heart to see such a nice trade
Attached Image (click to enlarge)
Click to Enlarge Name: 10 may eurjpy.armm1.png Size: 46 KB
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