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Daytrading/scalping with high leverage - my proven strategy

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  • #5,081
  • Jul 9, 2013 8:43am Jul 9, 2013 8:43am
Here is a failed EU trade that I took. I ended up getting just above BE on it, but entered too soon before the trend had really turned. Either way, EU is not really moving so not really worth trading at the moment IMO. Double bottom to a higher high, pullback above Ichi, enter. The higher high was barely a higher high, more of a stop hunt really which is where I jumped the gun on this trade (in my opinion, maybe I'm completely missing something else as well).
Attached Image (click to enlarge)
Click to Enlarge Name: eu long 7.9.13.gif Size: 35 KB
Small disciplines repeated with consistency lead to great achievements.
  • #5,082
  • Jul 9, 2013 10:22am Jul 9, 2013 10:22am
Quoting jmflukeiii
Here is a failed EU trade that I took. I ended up getting just above BE on it, but entered too soon before the trend had really turned. Either way, EU is not really moving so not really worth trading at the moment IMO. Double bottom to a higher high, pullback above Ichi, enter. The higher high was barely a higher high, more of a stop hunt really which is where I jumped the gun on this trade (in my opinion, maybe I'm completely missing something else as well). {image}
where is your tma5 sloping?
what is the trend if you zoom out?
still, BE is not a bad outcome
Attached Image (click to enlarge)
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  • #5,083
  • Jul 9, 2013 10:35am Jul 9, 2013 10:35am
Quoting tonny47
{quote} where is your tma5 sloping? what is the trend if you zoom out? still, BE is not a bad outcome {image}
Both very good points and why I took the quick exit. These are my favorite setups the first pullback after the trend change. In this case I jumped the gun a bit. Thank you for the response.
Small disciplines repeated with consistency lead to great achievements.
  • #5,084
  • Jul 9, 2013 10:41am Jul 9, 2013 10:41am
Quoting jmflukeiii
{quote} Both very good points and why I took the quick exit. These are my favorite setups the first pullback after the trend change. In this case I jumped the gun a bit. Thank you for the response.
i am trying myself to take fewer countertrend trades or reversal trades. they surely can be profitable but sometimes they feel like i am trying to catch a falling knife
  • #5,085
  • Edited 11:21am Jul 9, 2013 10:54am | Edited 11:21am
Quoting GilR
Hi Greg Some use TMA and others the nonrepainting TMA {file} {file}
Out of these which one is the latest and greatest non-repainting TMA? !TMA True v2.mq4 I think, correct?
  • #5,086
  • Jul 9, 2013 11:01am Jul 9, 2013 11:01am
Quoting tonny47
{quote} i am trying myself to take fewer countertrend trades or reversal trades. they surely can be profitable but sometimes they feel like i am trying to catch a falling knife
You seemed like they were working so well for you! I have always preferred trading with the trend, its just easier to hold onto for a bit of a gain as opposed to taking small wins on the counter trend trades I take.
Small disciplines repeated with consistency lead to great achievements.
  • #5,087
  • Jul 9, 2013 11:10am Jul 9, 2013 11:10am
Quoting condor666
Here is the template alone and in case you not have the indies i made a zip you simply need to extract in your broker's mt4 installation folder : {file} {file}
Condor,

Is this still the latest template you are using? What pairs do you trade besides the eur.jpy, on the 5M?
  • #5,088
  • Jul 9, 2013 11:25am Jul 9, 2013 11:25am
Quoting jmflukeiii
{quote} You seemed like they were working so well for you! I have always preferred trading with the trend, its just easier to hold onto for a bit of a gain as opposed to taking small wins on the counter trend trades I take.
yes, they are not bad trades to take, but you will get more losers. and i am still trying to limit the number of trades i take and only take the best ones
  • #5,089
  • Jul 9, 2013 10:29pm Jul 9, 2013 10:29pm
The Asian session really is child's play. Just follow the TMA 5 trend with rules and +5%
  • #5,090
  • Jul 9, 2013 11:15pm Jul 9, 2013 11:15pm
Quoting GilR
The Asian session really is child's play. Just follow the TMA 5 trend with rules and +5%
Plus another 3%

Attached Image (click to enlarge)
Click to Enlarge Name: 10-07-2013 14-11-51.jpg Size: 481 KB
  • #5,091
  • Jul 9, 2013 11:50pm Jul 9, 2013 11:50pm
Quoting GilR
{quote} Plus another 3% {image}
What is that colored bar indicator on the very bottom - tma slopes?
Small disciplines repeated with consistency lead to great achievements.
  • #5,092
  • Jul 9, 2013 11:59pm Jul 9, 2013 11:59pm
And another low risk trade if you dont trade against TMA5

USDJPY

Attached Image (click to enlarge)
Click to Enlarge Name: 10-07-2013 14-56-12.jpg Size: 206 KB
  • #5,093
  • Jul 10, 2013 12:03am Jul 10, 2013 12:03am
Quoting jmflukeiii
{quote} What is that colored bar indicator on the very bottom - tma slopes?
Just a trend indicator and range indicator (similar to "how_volatile" indicator) if have already posted.
  • #5,094
  • Jul 10, 2013 12:07am Jul 10, 2013 12:07am
Quoting GilR
{quote} Plus another 3% {image}
Low Risk Low Stress High Reward High Probability Trades
  • #5,095
  • Jul 10, 2013 12:15am Jul 10, 2013 12:15am
Quoting GilR
And another low risk trade if you dont trade against TMA5 USDJPY {image}
Do you prefer true TMAs or the reprinting ones or doesn't matter much in real time?

thanks -
Small disciplines repeated with consistency lead to great achievements.
  • #5,096
  • Jul 10, 2013 12:16am Jul 10, 2013 12:16am
Snapped a quick 10 pip testing the LCSM. Could have entered earlier and taken more pips but was doing something else when I suddenly got to the EURJPY chart and noticed the move and the LCSM. Seeing the angle of the JPY & EUR lines with confirmation of the values, I entered without hesitation, even when price was already beyond both the M5 & M15 TMA.

Cheers, and good trading to all. I'm off to bed, and will try to be back for the London session in another 2 - 3 hours; otherwise see you during the US session.

Shalom


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.
Hey Condor,

Trust you're doing well!! Any luck with the alert??
Attached Image (click to enlarge)
Click to Enlarge Name: EJ Trade 2 - 7092013.gif Size: 51 KB
Low Risk Low Stress High Reward High Probability Trades
  • #5,097
  • Jul 10, 2013 12:21am Jul 10, 2013 12:21am
Quoting 919gilead
Snapped a quick 10 pip testing the LCSM. Could have entered earlier and taken more pips but was doing something else when I suddenly got to the EURJPY chart and noticed the move and the LCSM. Seeing the angle of the JPY & EUR lines with confirmation of the values, I entered without hesitation, even when price was already beyond both the M5 & M15 TMA. Cheers, and good trading to all. I'm off to bed, and will try to be back for the London session in another 2 - 3 hours; otherwise see you during the US session. Shalom {quote} Hey Condor, Trust...
  • #5,098
  • Jul 10, 2013 12:23am Jul 10, 2013 12:23am
Quoting jmflukeiii
{quote} Do you prefer true TMAs or the reprinting ones or doesn't matter much in real time? thanks -
I use no repaint, but forget about the numbers and use your eyes. You can even draw trendlines

Remember that no repaint becomes repaint if you refresh chart!
  • #5,099
  • Jul 10, 2013 12:27am Jul 10, 2013 12:27am
Hey 919....

Is there any difference between your currency indicator and CCFp currency indicator?
  • #5,100
  • Jul 10, 2013 12:36am Jul 10, 2013 12:36am
Quoting GilR
Hey 919.... Is there any difference between your currency indicator and CCFp currency indicator?
Little or no difference - they are basically the same
Low Risk Low Stress High Reward High Probability Trades
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