Daytrading/scalping with high leverage - my proven strategy

TP hit trade is a win So far, still on the plus side this week. Moving on to next week. See, simple method right? Idea is so simple. There was expanded volatility for more than an hour, just think about it. If all those market makers still think this is a short, this thing should have kept going down. Counter Trend trade gave me back twice what I lost. Thank you for this thread for educating me, not all is from this thread which I now apply to my trading but it contributed to it. So, I thank dnabrasil and favorite. Thanks guys!

My 1st trade today for 12 pips!

Braun, the indicator and template is shared by Favorite on this thread. Just search for the attachments.

Hey Mike,

This is for you wherever you are - Babon works and it rocks

Been very tired of late assisting a former client of mine, and my boy is going back to school next week, so a bit of shopping and dinner with the family yesterday. Just got up this morning looked at the chart, and bang I pulled the trigger on EU. Ignored the warning from BHE and almost paid for with 14 pip initial drawdown, almost hit SL just above YL @ 3219 but closed out for a nice 14.8 pips Tempted to take on NU but won`t and will just call it a day.

Shalom , and have a nice week end all

George

Tons of pips on GJ got 50% on this trade small account tho haha

Bam + 50 pips

There are no clear rules at least I do not understand.
thanks

Someday I will try to join this 100 fold challenge. http://www.forexfactory.com/showthre...84#post6930884

But for the meantime, I will first practice on Demo.

I just use Ichimoku for entries without the cloud, I only use 3 indicators, Ichimoku 9,40,52, ATR, and Floor pivot. Somewhere here I posted my chart with the indicators. Maybe someday I'll explain my entry rules in details. But, if you are familiar with Ichimoku I think you already know how it's done.

OK Thanks

No No Dustin that's excessive greed !

Well done !!

+ 20

I tried as much as I can to copy my JForex platform to MT4. In MT4 since you can't have two ATR's, I substituted it with a moving average instead of 1440. I wanted a 2880 which equals two days but it wouldn't take it so I guess 1440 is enough. Also, 30 tick charts is unavailable in MT4 so place it in 1 minute charts instead. The 30 tick charts is really useful in fast moving markets like when there's news. On slow days I still use the 1 minute.

1. 14 ATR must be above the 1440 moving average for at least 30 minutes, if not, look for another pair to trade that is busy.

2. For Trend Trade. Long only if Gold Line is above the Blue Line.

* Long Entry= First, White line needs to cross below the Gold Line. Then, it has to cross above and higher than the candle under it. The new candle must also be green and above the gold line.

* The stop loss will be entry price - last swing low - value of 1440 ATR. I added a Fractal Zig Zag so it's easier for you guys to identify where to place the SL.

* TP will be entry price + the value of the stop loss. Add a trailing stop rule, it's up to you.

3. For counter trend Short = Gold line and the white line needs to cross below the blue line and that the white line is below the price of the candle above it, current bar must also be red and close below the gold line. SL and TP is the the same as above.

That's about it. Stick to the SL, sometimes there will be a long entry and the gold and white line will cross below the blue. These are ok and stay with it until you are stopped. This is part of the game sometimes there will be noise in the market. CT trade near R3 and S3 on the daily, weekly floor pivots seems to work really well so look for CT trades around there. Practice! Practice! Practice! (This also applies to me) This entry rule alone is not going to make you profitable you have to practice. The ATR rule is going to help you not to trade on markets that are dull so follow it. Another good areas to scalp a CT trade is look for the 1440 ATR of the hourly chart. Then, when the current hourly bar is nearing its hourly ATR start looking for CT trades. I also noticed market seems to turn at 6am PST when there is a long trend during the London session. Something I noticed while observing price action. So look for CT trades around this time too.

On the screen shot, white line crossed up then down validating a short entry. ATR is also above the 1440 for more than an hour. This is just recently after AUD retail sales. The SL/TP on this is 10 pips but as you can see it made more than +20 pips. If you look more to the right there is also a CT trade short but its near the news so that one is filtered.

Also, manage your risk, let's say you only want to loose $20 every time adjust your position by dividing dollar amt/SL. So $20/10 pip stop loss, position size is 20,000 units. Ok I don't want to sound like a guru thats it I'm done I promise. My template is attached. I hope DNA doesn't mind me posting this...

Good PIPS.

PS Do not over trade

Currently at 7% gain. My target is 20% each month. I think I'm on track.

Sorry why did I say right. I mean if you look to the left there was a CT trade short 30 mins before an AUD red news but filtered since its near news time.

WANT TO FORGET THAT?

ATR is low enjoy life and play with your kids.

Thanks for sharing, mate

You're welcome! GBP/USD is a ZzzZZZZ I've been waiting for like forever. I need 8 more pips lol.

Meh so I settled for +17 pips profit. It's been testing that low. Missed target by 3 pips it's not that bad.