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Daytrading/scalping with high leverage - my proven strategy

  • Linked: 1 Lot - 1.000 $ | Brokerage Account XXX82
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  • #4,541
  • Jun 10, 2013 11:15am Jun 10, 2013 11:15am
Geoffrey here's an example of a live trade happenning actually :
Attached Image (click to enlarge)
Click to Enlarge Name: Snap 2013-06-10-18_14.png Size: 51 KB
My name is Martin... Martin Gale
  • #4,542
  • Jun 10, 2013 11:43am Jun 10, 2013 11:43am
hi condor, would this be a valid entry long eurusd or would you only take trade if its the first time breaking the cloud?
cheers
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  • #4,543
  • Jun 10, 2013 11:46am Jun 10, 2013 11:46am
Personnally i wouldn't enter at the moment you showed but i would enter at the open of the last blue candle on your pic.
Why not enter on the big candle ? cause it's a big candle
My name is Martin... Martin Gale
  • #4,544
  • Jun 10, 2013 12:13pm Jun 10, 2013 12:13pm
Condor, which pairs do you trade most frequently?
  • #4,545
  • Jun 10, 2013 12:14pm Jun 10, 2013 12:14pm
The jpy based pairs but actually i'm trying to focus only on gbpjpy.
My name is Martin... Martin Gale
  • #4,546
  • Jun 10, 2013 12:58pm Jun 10, 2013 12:58pm
Quoting condor666
Personnally i wouldn't enter at the moment you showed but i would enter at the open of the last blue candle on your pic. Why not enter on the big candle ? cause it's a big candle
ok so i assume you would enter about 4 min later after the pullback and continuation?
  • #4,547
  • Jun 10, 2013 1:19pm Jun 10, 2013 1:19pm
Yes and what's important is that candle must close above white line.
My name is Martin... Martin Gale
  • #4,548
  • Jun 10, 2013 1:54pm Jun 10, 2013 1:54pm
Quoting condor666
Yes and what's important is that candle must close above white line.
i see, thanks
  • #4,549
  • Jun 10, 2013 1:59pm Jun 10, 2013 1:59pm
Yes, thanks condor Iunderstand much better now, keep posting the charts, really helps.
Geoff
  • #4,550
  • Jun 10, 2013 2:22pm Jun 10, 2013 2:22pm
Quoting GEOFFREY62
Thanks Hollowhead, I thought price must be below cloud , sma and white line and in upper half of tmas to go short, and price above cloud and sma and white line and in lower half of tmas to go long. If you look at condors charts he posts all his entrys seem to be like this. Geoff
Yea - unfortunately that's the repainting of the TMA - it looks like that after the move. I would post some live charts, but I don't trade using MT4 - I only use it for charting, and place trades on another system. It can all become a bit confusing and frantic on M1 when trying to screen shot as well. Anything can happen, so you really have to be on the ball.
  • #4,551
  • Jun 10, 2013 2:28pm Jun 10, 2013 2:28pm
Quoting condor666
Yes and what's important is that candle must close above white line.
Thanks for all you did for us! For your charts, for information and for your explanations to our questions!
I have one question: what is your SL and TP for this pairs?! (EJ, GJ, UJ)
How do you decide SL and TP?
  • #4,552
  • Jun 10, 2013 2:42pm Jun 10, 2013 2:42pm
SL is between 15 and 25 pips depending on volatility (i look if the cloud is big or not) and TP is in general the tma line.
I look to have at least 10 pips + spread for the TP.
So for my actual broker which is fxpro i've 5 pips spread on gbpjpy so i need to have at least 15 pips to the tma line.
My name is Martin... Martin Gale
  • #4,553
  • Jun 10, 2013 4:17pm Jun 10, 2013 4:17pm
Quoting condor666
{quote} Why 10 pips spread ??? I've only 5 pips and 25 pips is 25% so it's many money.
Hi Condor.
5 pips for entry and 5 pips when you closing the trade,in total it is 10 points. And if you use 1pip=1% MM you want or not you pay 10% to a broker. It is not so bad if the trade going to be profitable,but on another hand when the price moves against ,you have at least 10% drawdown. What I want to say- isn't it too expensive for just one single trade?

Best Regards,
David.
Success is nothing more than a few simple disciplines, practiced every day.
  • #4,554
  • Jun 10, 2013 4:43pm Jun 10, 2013 4:43pm
Quoting Machinator
{quote} Hi Condor. 5 pips for entry and 5 pips when you closing the trade,in total it is 10 points. And if you use 1pip=1% MM you want or not you pay 10% to a broker. It is not so bad if the trade going to be profitable,but on another hand when the price moves against ,you have at least 10% drawdown. What I want to say- isn't it too expensive for just one single trade? Best Regards, David.
you dont pay 5 pips on entry and 5 on exit. he meant he likes to take 10 pips net after considering 5 pips spread
  • #4,555
  • Jun 10, 2013 6:28pm Jun 10, 2013 6:28pm
Quoting tonny47
{quote} you dont pay 5 pips on entry and 5 on exit. he meant he likes to take 10 pips net after considering 5 pips spread
Thanks for the answer Tonny!
Success is nothing more than a few simple disciplines, practiced every day.
  • #4,556
  • Jun 10, 2013 6:44pm Jun 10, 2013 6:44pm
Quoting Machinator
{quote} Thanks for the answer Tonny!
no problem. i have to agree though, even 5 pips seems like a big spread to me, although i dont trade gbpjpy
  • #4,557
  • Jun 10, 2013 7:40pm Jun 10, 2013 7:40pm
Tonny, I like to see your trades did you take any today?
  • #4,558
  • Jun 11, 2013 7:01am Jun 11, 2013 7:01am
Today it's impossible to trade gbpjpy on fxpro's mt4 so i decided to change for their cTrader platform and now i've a good spread, i costs me 1.01$ per side for 0.1 lots so i pay 2.02$ per trade for the moment and i made climb my account to approx 205$
Attached Image
My name is Martin... Martin Gale
  • #4,559
  • Jun 11, 2013 7:07am Jun 11, 2013 7:07am
A so nice trade today :
Attached Image
My name is Martin... Martin Gale
  • #4,560
  • Jun 11, 2013 9:33am Jun 11, 2013 9:33am
Did the yen killed everyone today ?
It seems that i'm the unique survivor of this thread
My name is Martin... Martin Gale
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