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Daytrading/scalping with high leverage - my proven strategy

  • Linked: 1 Lot - 1.000 $ | Brokerage Account XXX82
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  • #5,041
  • Jul 8, 2013 6:37am Jul 8, 2013 6:37am
PA now inside Cloud on M5 TF; therefore I am short again
Attached Image (click to enlarge)
Click to Enlarge Name: EJ CT Trade2 - 7082013.gif Size: 67 KB
Low Risk Low Stress High Reward High Probability Trades
  • #5,042
  • Jul 8, 2013 7:38am Jul 8, 2013 7:38am
Closed trade for few pips as PA was not impressive - better be safe than sorry. LCSM showed both currencies as weak; therefore no surprise @ price action. I will continue to watch PA on M5 TF for direction.

It's Monday, and I'm going for snooze

Trade safe gals & guys

Shalom
Attached Image (click to enlarge)
Click to Enlarge Name: EJ CT Trade2a - 7082013.gif Size: 72 KB
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  • #5,043
  • Jul 8, 2013 7:42am Jul 8, 2013 7:42am
Grid trading is the key, first today i got a loosing trade for 30 pips and now i'm up for 20 pips, you can see it in my explorer.
I was out just in right time :
Attached Image (click to enlarge)
Click to Enlarge Name: Snap 2013-07-08 _ 14-45.png Size: 73 KB
My name is Martin... Martin Gale
  • #5,044
  • Edited 8:39am Jul 8, 2013 8:14am | Edited 8:39am
Quick observation before I go - see how price began to move as M1 TMA moved beyond the Cloud. I saw this possibility but since nobody can guess what the market will do in response to Draghi's speech, I thought it wise to close the trade. Price is now back @ 130 again.

I have found "M1 TMA Beyond the Cloud" the best and safest trade pattern to take. FWIW

Shalom

George

NB
Found this on twitter as confirmation of what I said above - nobody can predict market reaction to economic news reports or comments by high ranking officials representing major "currency" countries!!
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Click to Enlarge Name: EJ CT Trade2b - 7082013.gif Size: 68 KB
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  • #5,045
  • Edited 8:35am Jul 8, 2013 8:16am | Edited 8:35am
919gilead can you tell me whether chaos gator indicator is the same as 'tma slopetrue'? if not can you share it or tell where can I find it please?

btw What timeframe do you use on LCSM?

Thank you
  • #5,046
  • Jul 8, 2013 8:32am Jul 8, 2013 8:32am
Quoting Culver
919gilead can you tell me whether chaos gator indicator is the same as 'tma slopetrue'? if not can you share it or tell where can I find it please? Thank you
It is not the same, and I think I found it at "The Amazing Magic of 3MW of now" thread.
Attached File(s)
File Type: ex4 Chaos gator.ex4   5 KB | 554 downloads
File Type: mq4 Chaos gator.mq4   4 KB | 699 downloads
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  • #5,047
  • Jul 8, 2013 9:53am Jul 8, 2013 9:53am
A better option to have traded today
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Click to Enlarge Name: NU Potential Trade1 - 7082013.gif Size: 54 KB
Click to Enlarge Name: NU Potential Trade1b - 7082013.gif Size: 67 KB
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  • #5,048
  • Jul 8, 2013 10:04am Jul 8, 2013 10:04am
AUD/USD moved well also. Unfortunately I spent my time staring at the EU flop back and forth in a 12 pip range. Oh well - some days you get 'em some you don't I suppose.

919 - do you only watch and trade one instrument at a time? Or do you have several up to select from before making a trade?
Small disciplines repeated with consistency lead to great achievements.
  • #5,049
  • Jul 8, 2013 10:25am Jul 8, 2013 10:25am
Quoting jmflukeiii
AUD/USD moved well also. Unfortunately I spent my time staring at the EU flop back and forth in a 12 pip range. Oh well - some days you get 'em some you don't I suppose.

919 - do you only watch and trade one instrument at a time? Or do you have several up to select from before making a trade?
I watch all the 28 major pairs but most times but it is very distracting, and this is why you see me sometimes enter trades slightly late. I have decided of late to match currencies on opposite sides of the LCSM and trade the ones that align with my setup pattern and rules. An alert would have been very great as I requested in post 5000 but in the absence of any coder to help, I have to improvise a way to do this.

I will concentrate more on this style of trading effective the next trading session, and see what happens.

Shalom

George
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  • #5,050
  • Jul 8, 2013 10:39am Jul 8, 2013 10:39am
Quoting 919gilead
{quote} I watch all the 28 major pairs but most times but it is very distracting, and this is why you see me sometimes enter trades slightly late. I have decided of late to match currencies on opposite sides of the LCSM and trade the ones that align with my setup pattern and rules. An alert would have been very great as I requested in post 5000 but in the absence of any coder to help, I have to improvise a way to do this. I will concentrate more on this style of trading...
28?!?! I find myself getting a little agitated and frustrated when I watch even just 3 pairs at a time. With the LCSM, you are basically looking for the strongest and the weakest currencies, and then trade that pair in the direction of the strong pair? Or do I not know what I'm talking about...

Not that I'm great with MT4 programming, but specifically would you want coded. Just as Fav described - angle of the TMA and alerts when the the middle TMA band crosses the Ichi and then again when all TMA lines are across the Ichi? I'd certainly be interested in setting something up like that and could probably use the bones of some other alert indicator to make it.
Small disciplines repeated with consistency lead to great achievements.
  • #5,051
  • Jul 8, 2013 10:48am Jul 8, 2013 10:48am
Quoting jmflukeiii
{quote} 28?!?! I find myself getting a little agitated and frustrated when I watch even just 3 pairs at a time. With the LCSM, you are basically looking for the strongest and the weakest currencies, and then trade that pair in the direction of the strong pair? Or do I not know what I'm talking about... Not that I'm great with MT4 programming, but specifically would you want coded. Just as Fav described - angle of the TMA and alerts when the the middle TMA band crosses the Ichi and then again when all TMA lines are across the Ichi? I'd certainly...
JMF:

You are correct - I am looking for the strongest and weakest currencies, and will match them for trade in the direction of the strongest or weakest currency(ies), depending on whether it is the base or quote currency.

If you read paragraph 2 of the post I referred to, you will see my alert request, which should be on the LCSM. The LCSM currently has an alert but will ONLY alert for the currency pair it is placed on. I would rather have an alert for currency(s) crossing the zero line (above or below), then I can check my chart for possible setup(s).
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  • #5,052
  • Jul 8, 2013 11:05am Jul 8, 2013 11:05am
Quoting 919gilead
{quote} JMF: You are correct - I am looking for the strongest and weakest currencies, and will match them for trade in the direction of the strongest or weakest currency(ies), depending on whether it is the base or quote currency. If you read paragraph 2 of the post I referred to, you will see my alert request, which should be on the LCSM. The LCSM currently has an alert but will ONLY alert for the currency pair it is placed on. I would rather have an alert for currency(s) crossing the zero line (above or below), then I can check my chart for possible...
What time frame do you monitor the currencies on with the LCSM? 1 Minute?
Small disciplines repeated with consistency lead to great achievements.
  • #5,053
  • Jul 8, 2013 11:08am Jul 8, 2013 11:08am
Quoting 919gilead
{quote} I watch all the 28 major pairs but most times but it is very distracting, and this is why you see me sometimes enter trades slightly late. I have decided of late to match currencies on opposite sides of the LCSM and trade the ones that align with my setup pattern and rules. An alert would have been very great as I requested in post 5000 but in the absence of any coder to help, I have to improvise a way to do this. I will concentrate more on this style of trading...
I'll try to code it but i'm not sure that i can do it cause i'm not so good in coding indicators.
My name is Martin... Martin Gale
  • #5,054
  • Jul 8, 2013 11:15am Jul 8, 2013 11:15am
Quoting jmflukeiii
{quote} What time frame do you monitor the currencies on with the LCSM? 1 Minute?
M1 to M15
Attached Image (click to enlarge)
Click to Enlarge Name: LCSM.gif Size: 60 KB
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  • #5,055
  • Jul 8, 2013 11:16am Jul 8, 2013 11:16am
Quoting condor666
{quote} I'll try to code it but i'm not sure that i can do it cause i'm not so good in coding indicators.
Thanks Condor - that will be much appreciated and good for all.

Shalom
Low Risk Low Stress High Reward High Probability Trades
  • #5,056
  • Jul 8, 2013 11:40am Jul 8, 2013 11:40am
Quoting Machinator
{quote} 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. {image} {image}
your second picture, second candle from the right is a pinbar to me plus there happened to be a good resistance (which you draw yourself with a green line.
4h pin bar is not objective in my opinion since not all traders see it because of the different broker time. i dont see a pinbar on my 4h charts
  • #5,057
  • Jul 8, 2013 1:13pm Jul 8, 2013 1:13pm
919 - what is triggering your actual entry on the M and W patterns? Is it a break of the high/low in between the peaks? or after the second peak may have formed enter on a good signal candle?

and Tony - for your counter trend M1 TMA over m5 TMA trades, what is it that actually signals you into the trade? A close in the trade direction? The Babon turning?

Thanks -
Small disciplines repeated with consistency lead to great achievements.
  • #5,058
  • Jul 8, 2013 1:45pm Jul 8, 2013 1:45pm
Quoting jmflukeiii
919 - what is triggering your actual entry on the M and W patterns? Is it a break of the high/low in between the peaks? or after the second peak may have formed enter on a good signal candle? and Tony - for your counter trend M1 TMA over m5 TMA trades, what is it that actually signals you into the trade? A close in the trade direction? The Babon turning? Thanks -
JMF:

I use the Babon rules. The W & M pattern are just additional confluence, and I trust the enclosed charts speak for themselves. I enter on the 2nd candle after break of the last leg of W or M pattern.

Closing for day for a well deserved rest, so I can be here for the Asian session, as I see action already brewing for some probable major movement
Attached Image(s) (click to enlarge)
Click to Enlarge Name: NU Potential Trade1b - 7082013.gif Size: 67 KB
Click to Enlarge Name: EJ CT Trade2a - 7082013.gif Size: 73 KB
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  • #5,059
  • Jul 8, 2013 2:21pm Jul 8, 2013 2:21pm
Quoting 919gilead
{quote} JMF: I use the Babon rules. The W & M pattern are just additional confluence, and I trust the enclosed charts speak for themselves. I enter on the 2nd candle after break of the last leg of W or M pattern. Closing for day for a well deserved rest, so I can be here for the Asian session, as I see action already brewing for some probable major movement {image} {image}
Yes - very easy to see, thank you for the response.
Small disciplines repeated with consistency lead to great achievements.
  • #5,060
  • Jul 8, 2013 2:40pm Jul 8, 2013 2:40pm
hello 919gilead can u pls share LCSM indicator and also your template along with HH, HL indicator which shows on ur chart...

will really appreciate it.



Quoting 919gilead
{quote} JMF: I use the Babon rules. The W & M pattern are just additional confluence, and I trust the enclosed charts speak for themselves. I enter on the 2nd candle after break of the last leg of W or M pattern. Closing for day for a well deserved rest, so I can be here for the Asian session, as I see action already brewing for some probable major movement {image} {image}
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