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Daytrading/scalping with high leverage - my proven strategy

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Quoting 919gilead
{quote} Great job - short EJ too. I was already in bed when my MT4 alarm went off on GJ, then AJ but the LCSM pointed me to the EJ instead. Good trading to all Shalom BTW On my RSI candle - I use 0,90,250 for bull and Goldenrod for bear; White for the first two candles, which is the wick. RSI Period is 3 and CandleWidth is 3 too
919gilead,

Which indicator are you refering to under LCSM? Also what do you use for an alarm? Do you have another indi for that?

Regards,
Peter
Took a 30 pip loss on the GU short and it was my fault as I had the opportunity to close the trade in profit when it retested the S1 support which I highlighted in the chart. I however took another trade - UJ long about 10 minutes before the US ISM Manufacturing PMI release and close trade for almost 20 pips to reduce my loss of the day to about 6 pips. Will still be watching a trade that will be bring me to break even or profit for the day.

Good trading to all

Shalom

George
Attached Image (click to enlarge)
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Low Risk Low Stress High Reward High Probability Trades
Quoting peterwest
{quote} 919gilead, Which indicator are you refering to under LCSM? Also what do you use for an alarm? Do you have another indi for that? Regards, Peter
Hi Peter:

Sorry for the late response as I went back to bed (I am 8 hours behind GMT, so not so easy trading the London session most times). The LCSM was not included in the chart I posted as I have it on another chart and window; and this is the alarm I use as attached.



George
Attached File(s)
File Type: ex4 Price_Alert.ex4   3 KB | 285 downloads
File Type: mq4 Price_Alert.mq4   2 KB | 349 downloads
Low Risk Low Stress High Reward High Probability Trades
Quoting Flaviu1981
{quote} Thank you George!
Low Risk Low Stress High Reward High Probability Trades
+14
+22 on UJ earlier on

I am off on vacation again and should be back in 10 days!

Good luck trading and thanks 919gilead for all your help!
Attached Image (click to enlarge)
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Quoting 919gilead
{quote} Hi Peter: Sorry for the late response as I went back to bed (I am 8 hours behind GMT, so not so easy trading the London session most times). The LCSM was not included in the chart I posted as I have it on another chart and window; and this is the alarm I use as attached. George {file} {file}
To be honest, I don't even know which indicator LCSM is or what it does. Could you please explain it's details. It seems useful if it help choose optimum pair to trade at the given moment.

Thanks
Quoting dvanderlinde
+14 +22 on UJ earlier on I am off on vacation again and should be back in 10 days! Good luck trading and thanks 919gilead for all your help! {image}
Good trades Dustin and enjoy your vacation. We'll be here when you come back.

Shalom , and God bless

George
Low Risk Low Stress High Reward High Probability Trades
Quoting peterwest
{quote} To be honest, I don't even know which indicator LCSM is or what it does. Could you please explain it's details. It seems useful if it help choose optimum pair to trade at the given moment. Thanks
Hi Peter:

LCSM stands for linear currency strength meter and as the name depicts, it is the CSM drawn on the chart as lines instead of just values. See post 281 here for a copy and screen shots of M1, M5 & M15 is shown below.

Shalom
Attached Image (click to enlarge)
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Low Risk Low Stress High Reward High Probability Trades
Quoting dvanderlinde
{quote} That Yellow line is my TMA 5 And Im using the none painting one which is called TmaTrue and can be found in the attachments If you can find something better then TMA you should share
when i try tma sometimes is very good, thanks!
Quoting 919gilead
{quote} Hi Peter: LCSM stands for linear currency strength meter and as the name depicts, it is the CSM drawn on the chart as lines instead of just values. See post 281 here for a copy and screen shots of M1, M5 & M15 is shown below. Shalom {image}
Much appreciated
Day 1 of testing my scalping strategy. Profit of £438. It's fully automated, its about 30 mins work to get setup in the morning but after that it is usually done within the hour and fully automated. (400 £ overall profit target for all combined positions).

I also tested it today
Again it made another £400 today, however I can not print of the statement as LMAX say the trading day has not been finalized. (I will start my own forum but i am junior member atm)
Quoting 919gilead
{quote} Hi Peter: LCSM stands for linear currency strength meter and as the name depicts, it is the CSM drawn on the chart as lines instead of just values. See post 281 here for a copy and screen shots of M1, M5 & M15 is shown below. Shalom {image}
919gilead,

on your pics there is a topp and bottom level appart from the 0 line. What levels do these show?
Hi guys,

This is my first post here! I saw the name of this thread and couldn't pass it up since I'm a daytrader that scalps with HIGH leverage as well!!!

Was just wondering, how many of you are having success here / using this strategy / scalping with high leverage? And would anyone care to back it up with some proof? I'm hoping to not have to go back and read the majority of this thread... and I'd just like to know if there is any merit to it? The trade explorer at the top of this page does not look too promising.
Please check out my blog at https://from-zero-to-hero . net
anyway go back and start to read the thread from the beginning... take my word it is worth it!

GL,
David.
Success is nothing more than a few simple disciplines, practiced every day.
My cordially congrats to DNA and participants of the thread more than 1.000.000 views!!!!
Success is nothing more than a few simple disciplines, practiced every day.
Quoting peterwest
{quote} 919gilead, on your pics there is a topp and bottom level appart from the 0 line. What levels do these show?
Hi Peter:

It's just a personal choice - it's the level I prefer price to break before I start considering any trade. I have my trading system and only use the LCSM as an entry management tool and do not use it as a stand alone indicator.

Good to trading to all this new week

Shalom

George
Low Risk Low Stress High Reward High Probability Trades
Hello,

I would like to share my results about this strategy. So far I had really good success and I would like to thank Fav, DNA and Igor for posting this. I have slightly modified the entry criteria but the core indicators are the same. I use only 2 indicators (TMA 5 and Kijun-Sen). As with all the scalpers, broker choice with super low spread, no slippage and the ability to modify the order (within 10 pips of market) is a must. First I tried with Pepperstone but it didn't generate impressive results but as soon as I changed broker to ICM, the strategy worked really well and generated good returns even though I risked well below the recommemed trade size.

One thing to note, I prefer entering Stop orders and very rare I do Market order. On average, i expect 3 - 5 trades a day per pair on EU, EJ, UJ, GU. I was sick since last week so didn't trade much and missed really good setups. So far I only did demo trading because I have never traded scalpers before and once trade a little more, I plan to use this strategy on my live acct. I place very tight stops (5-10 pips) and no TP.

Criteria:
Long Entry
1 - TMA 5 (Uptrend)
2 - Kijun-Sen BELOW TMA 5 Median
3 - Price At or Below Kijun-Sen line OR between TMA 5 Median and Kijun-Sen line
4 - Enter Buy Stop Order 3-5 pips away from the price

Short Entry
1 - TMA 5 (Downtrend)
2 - Kijun-Sen ABOVE TMA 5 Median
3 - Price At or Above Kijun-Sen line OR between TMA 5 Median and Kijun-Sen line
4 - Enter Sell Stop Order 3-5 pips away from the price

Attached is the statement and some screenshots.

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Let me know if there is any confusion and I will post more examples.

Fez
Quoting bose3
Hello, I would like to share my results about this strategy....Fez
It looks interesting. Can you clarify how you handle stop loss and exit, please? Thanks
Quoting alright
{quote} It looks interesting. Can you clarify how you handle stop loss and exit, please? Thanks
I use stops at 10 pips by default or the following formula (Kijun-Sen Median Line Value - TMA 5 band (if uptrend then lower band and vice versa) value / 2). For TP, I usually use what Fav suggested, the Top TMA 5 band if uptrend and bottome TMA 5 band if downtrend. If the market is moving fast then might remove tp and then just do trail TP.

2 trades just happened as I was typing this post so missed them (see attachment). The thing I like about this strategy is even though I missed the trade I might get few more setups before the end of the day.

FYI - I don't trade around New York Close

Attached Image (click to enlarge)
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Attached Image (click to enlarge)
Click to Enlarge Name: usdjpym1.png Size: 85 KB
Quoting bose3
{quote} I use stops at 10 pips by default or the following formula (Kijun-Sen Median Line Value - TMA 5 band (if uptrend then lower band and vice versa) value / 2). For TP, I usually use what Fav suggested, the Top TMA 5 band if uptrend and bottome TMA 5 band if downtrend. If the market is moving fast then might remove tp and then just do trail TP. 2 trades just happened as I was typing this post so missed them (see attachment). The thing I like about this strategy is even though I missed the trade I might get few more setups before the end of the...
Ok, thanks. And what's the green line? If it's the babon slope (like it seems to me) it certainly has different settings. You must also make a different use of it than what Fav suggests...
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