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Daytrading/scalping with high leverage - my proven strategy

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  • #5,661
  • Aug 9, 2013 7:52am Aug 9, 2013 7:52am
Machinator, yes of course I tried that from the beginning Favorite shared this system but until this time I have no luck. I got more losses than winners. I dont know why. Maybe its just my mindset. CT as this one is risky when you TP is high. But with 5-7 pips TP, when this pattern occurs, pop a champagne for 5 pips!
  • #5,662
  • Aug 9, 2013 8:39am Aug 9, 2013 8:39am
Quoting mario777
Machinator, yes of course I tried that from the beginning Favorite shared this system but until this time I have no luck. I got more losses than winners. I dont know why. Maybe its just my mindset. CT as this one is risky when you TP is high. But with 5-7 pips TP, when this pattern occurs, pop a champagne for 5 pips!
Hi Mario, hi Machinator

I tend to agree with Mario. I also seem to have way more luck with the CT trades and small TPs than with the TTs. Somehow, me thinks, it could be that when your mind realizes that you are doing a "risky" CT, you are happy to chop the line at 5-7 pips, whereas I found that with TTs you tend to forget a bit that this is SCALPING and thus expect just a little more profit (especially on the Ichi beyond cloud trades) - and that's when it bites you in the bacon! Price turns, and you cannot believe how fast those gains evaporate and you sit with BE at best.
Yes, maybe that's all there is to it: MINDSET (yet again...). But I take my hat off to you, Machinator, for the precision with which you take and manage those TT guys .

Cheers and good trading to all
  • #5,663
  • Aug 9, 2013 9:27am Aug 9, 2013 9:27am
Thanks for this am going to give it a shot
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  • #5,664
  • Aug 9, 2013 11:02am Aug 9, 2013 11:02am
Quoting MidnightRun
{quote} Does divergence in the chaosgator indicator have the same meaning as in, say, MACD? Thank you
Yes it does
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  • #5,665
  • Aug 12, 2013 2:51am Aug 12, 2013 2:51am
Just started an account with $100, I want to see how far I can get it before I blow it.

Found my bad old habits of over exposing my account. Lucky it worked out in my favour.

STAY DISCIPLINED.

Made over 100% today off to bed
Attached Image (click to enlarge)
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Attached Image
  • #5,666
  • Aug 12, 2013 4:32am Aug 12, 2013 4:32am
Its great to trade TMA1 and TMA5, Thanks Mario, 999Gilead, Condor, Favorite, dnabrasil (Thread Owner) and all other members contributing here.
  • #5,667
  • Aug 12, 2013 2:10pm Aug 12, 2013 2:10pm
Quoting dvanderlinde
Just started an account with $100, I want to see how far I can get it before I blow it. Found my bad old habits of over exposing my account. Lucky it worked out in my favour. STAY DISCIPLINED. Made over 100% today off to bed {image} {image}
Hi dvanderlinde, can you share your template file ?
Thanks a lot.
There is no place for wimps
  • #5,668
  • Aug 12, 2013 6:59pm Aug 12, 2013 6:59pm
I guess I'm beginning to say good bye guys, as I no longer scalp but trade the M5/M15 TF and my chart is completely differently from most, and I strongly believe some uniformity is essential here. Will still post few trades before I finally disappear unless DNA doesn't might me posting my variation on his thread.

Took this UJ long trade early in the London session and just closed it now for about 46 pips

Shalom , and nice trading week to all

George
Attached Image (click to enlarge)
Click to Enlarge Name: UJ Long Trade 1b - 8122013.gif Size: 55 KB
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  • #5,669
  • Aug 13, 2013 4:53am Aug 13, 2013 4:53am
I am still struggling with my scalping mentality See how I left 60 pips on the table when price remained solidly above my MA Cloud. My rule is to wait for a close inside the Cloud, and take that as a warning sign to tighten SL, and would only close trade if price moves to the bottom of the MA Cloud (i.e. the red line). I need to put a reminder on my chart template.

Shalom
Attached Image (click to enlarge)
Click to Enlarge Name: UJ Long Trade 1c - 8122013.gif Size: 51 KB
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  • #5,670
  • Aug 13, 2013 12:29pm Aug 13, 2013 12:29pm
I did it again, leaving 40+ pips on the table. I must overcome this scalping mentality and not wanting to loose. Price again remained solidly above my MA Cloud as it pulled back after my entry but bounced off the top of the MA Cloud. There was therefore no reason to close the trade but I did again because I was sleepy and thought a bird in hand is worth 2 in the bush

I must transition from scalping and will take my time as I take whatever the market gives me, and be happy with it.

Shalom
Attached Image(s) (click to enlarge)
Click to Enlarge Name: UCH Long Trade 1b - 8132013.gif Size: 63 KB
Click to Enlarge Name: UCH Long Trade 1a - 8132013.gif Size: 67 KB
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  • #5,671
  • Aug 13, 2013 1:15pm Aug 13, 2013 1:15pm
Quoting mario777
I only trade TMA1 over TMA5 pattern. +10 pips on EU! {image}
Mario,

My TMA indicator does not look like this. Are these envelopes you are using?

Thank you.
Life is too short to have anything but delusional notions about yourself.
  • #5,672
  • Aug 13, 2013 6:28pm Aug 13, 2013 6:28pm
Quoting 919gilead
I did it again, leaving 40+ pips on the table. I must overcome this scalping mentality and not wanting to loose. Price again remained solidly above my MA Cloud as it pulled back after my entry but bounced off the top of the MA Cloud. There was therefore no reason to close the trade but I did again because I was sleepy and thought a bird in hand is worth 2 in the bush I must transition from scalping and will take my time as I take whatever the market gives me, and be happy with it. Shalom {image} {image}


you can not predict the market. Stand firm.

+ 25 pips
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you is your system, your system is you.
  • #5,673
  • Aug 14, 2013 4:35pm Aug 14, 2013 4:35pm
919gilead can you tell the name of this MA cloud indicator and settings you are using?
  • #5,674
  • Aug 14, 2013 6:23pm Aug 14, 2013 6:23pm
Quoting Axiomafx
{quote} you can not predict the market. Stand firm. + 25 pips {image}

Agree with you Pal
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  • #5,675
  • Aug 14, 2013 6:25pm Aug 14, 2013 6:25pm
Quoting Culver
919gilead can you tell the name of this MA cloud indicator and settings you are using?
Posted here, and I use different settings - 20 EMA Channel of high and low; 20/63; 20/72; 12/72 EMA of close, etc
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  • #5,676
  • Aug 14, 2013 7:07pm Aug 14, 2013 7:07pm
Quoting hoss
{quote} Mario, My TMA indicator does not look like this. Are these envelopes you are using? Thank you.
hoss i dont know what you mean envelopes. This template I downloaded from Favorite's template.
  • #5,677
  • Aug 14, 2013 7:07pm Aug 14, 2013 7:07pm
Just entered this long trade on break of YH
Attached Image (click to enlarge)
Click to Enlarge Name: NU Long Trade 1a - 8142013.gif Size: 65 KB
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  • #5,678
  • Aug 14, 2013 9:25pm Aug 14, 2013 9:25pm
SL moved to BE + 1.

NB
Stopped out. I was up 14 pips but thought the uptrend would continue and I missed out. Never know what the market will do. I think I will return to my scalping method for now and take whatever the market gives me, as I have made more pips this way.
Attached Image (click to enlarge)
Click to Enlarge Name: EU Long Trade 1a - 8142013.gif Size: 54 KB
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  • #5,679
  • Aug 15, 2013 1:40am Aug 15, 2013 1:40am
Long GU, and will move to BE + 1 with 10+ pip, and wait to see what the Retail Sales bring
Attached Image (click to enlarge)
Click to Enlarge Name: GU Long Trade 1a - 8142013.gif Size: 67 KB
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  • #5,680
  • Aug 15, 2013 1:54am Aug 15, 2013 1:54am
Quoting 919gilead
Long GU, and will move to BE + 1 with 10+ pip, and wait to see what the Retail Sales bring {image}
Exactly what MA Band filled settings were you using in particular screenshot?
Thanks
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