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Daytrading/scalping with high leverage - my proven strategy

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  • #5,021
  • Jul 6, 2013 12:52pm Jul 6, 2013 12:52pm
I'd say why scalping fails most of the times. Is because traders scalp with bias! If a person simply had it programmed in their minds that if a recross over their entry should result in a hedge/close in order. Followed by a position taken in the opposite direction. Then you'll realize non-directional scalping is the best way to go.
  • #5,022
  • Jul 6, 2013 2:45pm Jul 6, 2013 2:45pm
Quoting Machinator
{quote} Thanks George! The same to you. Shalom
Low Risk Low Stress High Reward High Probability Trades
  • #5,023
  • Jul 6, 2013 2:48pm Jul 6, 2013 2:48pm
Quoting jmflukeiii
Finally completed the Babon Slope candles and posting them here in case anyone is interested. (Sorry 919 - I liked your color scheme so much I had to use it as well) {image} {file}
No problem JMF. Will take a look @ the Babon Candle indicator you posted, and thanks. If you want the candles to show properly on the Cloud, then load the Ichi Cloud before the candle is placed on the chart.
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  • #5,024
  • Jul 6, 2013 4:15pm Jul 6, 2013 4:15pm
I am a visual person and use the attached indicators to highlight the H1 candle on the M1 chart, and the H4 candle on the M5 chart as shown in the enclosed EJ chart, in case anybody finds it useful too. It helps to confirm the HTF trend without having to change time frames. I like simple charts with a bird's eye view of the market without unnecessary stress, especially when decision has to be made within minutes.

Enjoy your week end gals and guys, and see you next week.

Shalom

George
Attached Image (click to enlarge)
Click to Enlarge Name: EJ Chart.gif Size: 72 KB
Attached File(s)
File Type: ex4 !H4 Hi Low Only.ex4   5 KB | 919 downloads
File Type: mq4 !H4 Hi Low Only.mq4   5 KB | 1,115 downloads
File Type: ex4 !H1 Hi Low Only.ex4   5 KB | 981 downloads
File Type: mq4 !H1 Hi Low Only.mq4   5 KB | 1,099 downloads
Low Risk Low Stress High Reward High Probability Trades
  • #5,025
  • Jul 7, 2013 1:50am Jul 7, 2013 1:50am
Quoting 919gilead
I am a visual person and use the attached indicators to highlight the H1 candle on the M1 chart, and the H4 candle on the M5 chart as shown in the enclosed EJ chart, in case anybody finds it useful too. It helps to confirm the HTF trend without having to change time frames. I like simple charts with a bird's eye view of the market without unnecessary stress, especially when decision has to be made within minutes. Enjoy your week end gals and guys, and see you next week. Shalom George {image} {file} {file} {file} {file}
George i know you are using the LCSM. Are you only trading if one currency is above 0 and the other one is below?
  • #5,026
  • Jul 7, 2013 2:07am Jul 7, 2013 2:07am
Hi everyone, do you think anyone could make an indicator or EA that could alert when the TMA on the next higher time frame is angled either up or down and the TMA on current time frame pulls back and crosses the other TMA outer band opposite the direction it is facing. So as an example, the higher TF TMA is pointing up indicating a long setup, the current TF TMA pulls back and crosses the lower band for the setup? Maybe pictures would help...

http://i43.tinypic.com/2j4yfth.png

the setup

http://i42.tinypic.com/2yngdbl.jpg

the result

Thanks
"Even if you fall down face first, you still went forward."
  • #5,027
  • Jul 7, 2013 12:42pm Jul 7, 2013 12:42pm
Quoting juicyt
Hi everyone, do you think anyone could make an indicator or EA that could alert when the TMA on the next higher time frame is angled either up or down and the TMA on current time frame pulls back and crosses the other TMA outer band opposite the direction it is facing. So as an example, the higher TF TMA is pointing up indicating a long setup, the current TF TMA pulls back and crosses the lower band for the setup? Maybe pictures would help... {image} the setup {image} the result Thanks
The chair recognizes the honorable member JT from Indo
  • #5,028
  • Jul 7, 2013 6:11pm Jul 7, 2013 6:11pm
Thank you thank you, I give it away by using the same name don't I? (I use the same name on all forums)
"Even if you fall down face first, you still went forward."
  • #5,029
  • Jul 8, 2013 2:23am Jul 8, 2013 2:23am
With patience another+5% day without much risk

Attached Image (click to enlarge)
Click to Enlarge Name: 08-07-2013 17-12-21.jpg Size: 551 KB
  • #5,030
  • Jul 8, 2013 2:35am Jul 8, 2013 2:35am
Quoting GilR
With patience another+5% day without much risk {image}
As it was nice and simple:
And as it became:
Attached Images
Greed causes poverty
  • #5,031
  • Jul 8, 2013 2:52am Jul 8, 2013 2:52am
Nice trades Gil. I don't trade Monday morning, as have found over the years that PA can be difficult to read. I also trade the European/London session very carefully on Monday, for the same reason. Having said that, I just picked up +9 on E/J. Exited too early, but exits are often more difficult than entries. Main thing is I followed my plan.

I see a few more lines on your chart. It's starting to look very "busy", but the way you pile up the returns, who cares! Cheers.
  • #5,032
  • Jul 8, 2013 3:26am Jul 8, 2013 3:26am
Quoting baccarat
{quote} George i know you are using the LCSM. Are you only trading if one currency is above 0 and the other one is below?
Good morning Baccarat:

Yes I use the LCSM, and match currencies on opposite sides of the central line as you rightly mentioned, and then trade ONLY those in agreement with our setup.

Shalom

George
Low Risk Low Stress High Reward High Probability Trades
  • #5,033
  • Jul 8, 2013 3:28am Jul 8, 2013 3:28am
Quoting orientos
Nice trades Gil. I don't trade Monday morning, as have found over the years that PA can be difficult to read. I also trade the European/London session very carefully on Monday, for the same reason. Having said that, I just picked up +9 on E/J. Exited too early, but exits are often more difficult than entries. Main thing is I followed my plan. I see a few more lines on your chart. It's starting to look very "busy", but the way you pile up the returns, who cares! Cheers.
Those extra lines on chart are Kijun 40,26 & 13

I am just looking to see how they behave in relation to each other
  • #5,034
  • Jul 8, 2013 5:03am Jul 8, 2013 5:03am
only a little time to trade. here are 3 trades i took and i am done for today. first one countertrend short for 3.7 pip loss, then long for about 4.5 pip profit, then another short for 16 pips
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy 8 july.png Size: 66 KB
  • #5,035
  • Jul 8, 2013 5:18am Jul 8, 2013 5:18am
Hi guys ,profitable week to All!!!

2 beautifulest trades on Aud/Usd. Thanks Mikhail!!!


David.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: double aud usd.PNG Size: 73 KB
Click to Enlarge Name: Double H1.PNG Size: 78 KB
Click to Enlarge Name: H1 pullback.PNG Size: 82 KB
Success is nothing more than a few simple disciplines, practiced every day.
  • #5,036
  • Jul 8, 2013 5:22am Jul 8, 2013 5:22am
nice pin bar on 1h eurjpy for shorts?
  • #5,037
  • Edited 5:58am Jul 8, 2013 5:42am | Edited 5:58am
Quoting tonny47
nice pin bar on 1h eurjpy for shorts?
Where do you see pin bar? Objectively after pin bar on TMA H4 middle line the trend is still up.

P.SBut after this dodji everything could change.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Pullback TMA H4 middle zone.PNG Size: 73 KB
Click to Enlarge Name: dodji.PNG Size: 64 KB
Success is nothing more than a few simple disciplines, practiced every day.
  • #5,038
  • Edited 6:18am Jul 8, 2013 5:46am | Edited 6:18am
Yes thanks Mikhail wherever you are

NB
I took this CT trade for several reasons:

  1. Like Favorite said, M1 TMA beyond M5 & M15 TMA will call for stronger pullback
  2. We had divergence with an apparent failure of the W/M pattern (additional pattern I also trade)
  3. M1 TMA goes beyond the Cloud
  4. Ichimoku support is broken
  5. Oscillator crosses below the ZL for a sell

Too many confluences supporting the CT for 10+ pips, and hinting at possible trend reversal but this is not supported by the M5 TF yet, although we can see that price has broken the low of the last H1 candle. I will only take this kind of trade for just the 10+ pip bonus it can give, and wait for the M5 trend to change before considering a short trade. I did enter much more earlier; on failure of the 1st W pattern after the divergence.

Shalom

George

Attached Image (click to enlarge)
Click to Enlarge Name: EJ CT Trade1 - 7082013.gif Size: 87 KB
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  • #5,039
  • Jul 8, 2013 5:51am Jul 8, 2013 5:51am
Quoting 919gilead
Yes thanks Mikhail wherever you are {image}
I join with all my heart

David.
Success is nothing more than a few simple disciplines, practiced every day.
  • #5,040
  • Jul 8, 2013 5:53am Jul 8, 2013 5:53am
Quoting Machinator
{quote} I join with all my heart David.
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