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Daytrading/scalping with high leverage - my proven strategy

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  • #5,121
  • Jul 10, 2013 6:47pm Jul 10, 2013 6:47pm
Where do you get good EJ spreads?
  • #5,122
  • Jul 10, 2013 6:51pm Jul 10, 2013 6:51pm
Any happy camper(s) on this 300 pip run in the Euro??? I wasn't and it is very painful but can't trade 24 hours!!!
Attached Image (click to enlarge)
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Low Risk Low Stress High Reward High Probability Trades
  • #5,123
  • Jul 10, 2013 6:54pm Jul 10, 2013 6:54pm
Quoting GilR
Where do you get good EJ spreads?
Hey GilR:

I use Pepperstone, and spread is 1 pip + $7.53 commission on 100K account; and commission is pro-rated based on full size or mini or micro lot.
Low Risk Low Stress High Reward High Probability Trades
  • #5,124
  • Jul 10, 2013 7:02pm Jul 10, 2013 7:02pm
Quoting 919gilead
{quote} Hey GilR: I use Pepperstone, and spread is 1 pip + $7.53 commission on 100K account; and commission is pro-rated based on full size or mini or micro lot.
Hi - I have a Pepperstone Edge account but spread on EJ varies between 1.5 and 2 pips plus commission. That is why I trade USDJPY which is much lower!

Has anybody tried Excel Markets? Their EJ is less than 1 pip plus 0.5 pip commission?
  • #5,125
  • Jul 10, 2013 7:07pm Jul 10, 2013 7:07pm
Quoting GilR
{quote} Hi - I have a Pepperstone Edge account but spread on EJ varies between 1.5 and 2 pips plus commission. That is why I trade USDJPY which is much lower! Has anybody tried Excel Markets? Their EJ is less than 1 pip plus 0.5 pip commission?

Don't know much about Excel Markets but will find out, as I need more accounts with low spread.
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Click to Enlarge Name: EJ Chart - 7102013.gif Size: 62 KB
Low Risk Low Stress High Reward High Probability Trades
  • #5,126
  • Jul 10, 2013 7:17pm Jul 10, 2013 7:17pm
Quoting 919gilead
{quote} Don't know much about Excel Markets but will find out, as I need more accounts with low spread. {image}
Do you get special rates?

I like your spread indicator

Attached Image (click to enlarge)
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  • #5,127
  • Jul 10, 2013 7:25pm Jul 10, 2013 7:25pm
Quoting GilR
{quote} Do you get special rates? I like your spread indicator1230940
I wish . It does fluctuate between 1 - 2 pip spread but I don't care as long as I get a good entry and able to cover the spread and commission, and translate into profit ASAP ; that's all that matters to me.

Going for an early nap as I've been missing good trades because of my location (8 hours behind London), and I'm trying to adjust my sleeping time, so I can make the European/London session for about 2 hours, and be back again for the early US session for another few hours.

Good trading to all

Shalom
Low Risk Low Stress High Reward High Probability Trades
  • #5,128
  • Jul 10, 2013 7:45pm Jul 10, 2013 7:45pm
Asian session has started well with +8 on EURUSD

Only 5 to go for daily target of 5% on account
  • #5,129
  • Jul 10, 2013 7:56pm Jul 10, 2013 7:56pm
Quoting GilR
Asian session has started well with +8 on EURUSD Only 5 to go for daily target of 5% on account
Wish I had not procrastinated and taken the EJ trade - would have been a bucked load
  • #5,130
  • Jul 10, 2013 8:14pm Jul 10, 2013 8:14pm
Trading with TMA5 is one of the keys success
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  • #5,131
  • Jul 10, 2013 8:45pm Jul 10, 2013 8:45pm
Two trades on Euro with 6% return and daily target reached again

Attached Image (click to enlarge)
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Contrary to what some say. You do not need to risk much for good returns
  • #5,132
  • Jul 10, 2013 8:49pm Jul 10, 2013 8:49pm
Quoting GilR
Two trades on Euro with 6% return and daily target reached again {image} Contrary to what some say. You do not need to risk much for good returns
Standard ichi settings? How do you use the ichi lines? Thank you for posting all the examples - good to see!
Small disciplines repeated with consistency lead to great achievements.
  • #5,133
  • Jul 10, 2013 8:50pm Jul 10, 2013 8:50pm
Quoting jmflukeiii
{quote} Standard ichi settings? How do you use the ichi lines? Thank you for posting all the examples - good to see!
I only use Kijun 9-40-52 (Igor settings)

On the first trade it did go against me 12pips as you can see, but trend was down and marked volatile.

I always keep an eye on USDJPY & EJ when trading EURUSD as they usually trade opposite
  • #5,134
  • Jul 10, 2013 8:59pm Jul 10, 2013 8:59pm
Another perfect trade for scalpers. Dont take risks

Attached Image (click to enlarge)
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  • #5,135
  • Jul 10, 2013 9:57pm Jul 10, 2013 9:57pm
Quoting GilR
Another perfect trade for scalpers. Dont take risks {image}
Like so? This topped out at about 15, and I got +11.7. I like this zoomed in trading, just using the slopes indi to get the directions.
Attached Image (click to enlarge)
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Small disciplines repeated with consistency lead to great achievements.
  • #5,136
  • Jul 10, 2013 10:09pm Jul 10, 2013 10:09pm
Quoting jmflukeiii
{quote} Like so? This topped out at about 15, and I got +11.7. I like this zoomed in trading, just using the slopes indi to get the directions. {image}
Not to difficult is it - just got keep in mind sometimes you will get caught on the wrong side
  • #5,137
  • Jul 10, 2013 10:19pm Jul 10, 2013 10:19pm
Quoting GilR
{quote} Not to difficult is it - just got keep in mind sometimes you will get caught on the wrong side
True, I always have my 5minute chart running, sort of my "compass". But stops are small and as with any method, I suppose you have to pay your dues every now and then.

Gil - you ever looked at this slope direction indi? I found it in the TMA thread, but modified it for M5 and M15 (user selected) instead of H4 and D1. Theoretically you could find the pair(s) with the best 5M trend and trade those.

How do you select which instrument to trade? Or do you monitor a number at one time?
Attached Image (click to enlarge)
Click to Enlarge Name: slopestrengths.gif Size: 56 KB
Attached File(s)
File Type: mq4 SlopeStrength (1).mq4   23 KB | 314 downloads
Small disciplines repeated with consistency lead to great achievements.
  • #5,138
  • Jul 10, 2013 10:26pm Jul 10, 2013 10:26pm
Quoting jmflukeiii
{quote} True, I always have my 5minute chart running, sort of my "compass". But stops are small and as with any method, I suppose you have to pay your dues every now and then. Gil - you ever looked at this slope direction indi? I found it in the TMA thread, but modified it for M5 and M15 (user selected) instead of H4 and D1. Theoretically you could find the pair(s) with the best 5M trend and trade those. How do you select which instrument to trade? Or do you monitor a number at one time? {image} {file}
Being a scalper - spread is key!

So I generally stay with USDJPY and EURUSD. I am looking at changing brokers from Pepperstone to Excel Markets who give even tighter spreads and then I could consider EJ.

As I trade mainly Asian session the first two work well.

I will try your slope indi
  • #5,139
  • Jul 10, 2013 10:39pm Jul 10, 2013 10:39pm
That Indi has all the pairs .... to much for my brain! Also I think live trading it would become a hindrance.

Personally I work better just concentrating on one or two pairs and getting to know them.

If you are looking for 5% a day only you will have plenty to choose from. Ideally you need to work up to a $10000 account and 5% a day would be a good income.

To me what some suggest in this thread concerning huge % gains a day will not work in the long run if you plan making a solid income from the market.

If one starts with $500 at 4% return a day in 4 months you would have $10000 account a much training!
  • #5,140
  • Jul 10, 2013 10:41pm Jul 10, 2013 10:41pm
Quoting GilR
That Indi has all the pairs .... to much for my brain! Also I think live trading it would become a hindrance. Personally I work better just concentrating on one or two pairs and getting to know them. If you are looking for 5% a day only you will have plenty to choose from. Ideally you need to work up to a $10000 account and 5% a day would be a good income. To me what some suggest in this thread concerning huge % gains a day will not work in the long run if you plan making a solid income from the market. If one starts with $500 at 4% return a day...
Completely agree - I actually aim for only 3%, but maybe I'll up that a little bit. I just like to peruse and post on this thread because it seems to be sort of the Home Land for the scalpers around FF. And also because there come some awesome ideas out of people's methods here!
Small disciplines repeated with consistency lead to great achievements.
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