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Daytrading/scalping with high leverage - my proven strategy

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  • #6,261
  • Oct 3, 2013 3:03am Oct 3, 2013 3:03am
Later, when you get so good at this you can start playing around with CT trades. But, I suggest for now to trade only with the trend. Trade with progression, as you get good with one then master the next one, CT trades, breakouts, etc, etc. One step at a time.
  • #6,262
  • Oct 3, 2013 3:08am Oct 3, 2013 3:08am
Quoting maflip
Later, when you get so good at this you can start playing around with CT trades. But, I suggest for now to trade only with the trend. Trade with progression, as you get good with one then master the next one, CT trades, breakouts, etc, etc. One step at a time.
For SLs and Targets is it still the same as on the old post, or do you use TMA targets?
  • #6,263
  • Oct 3, 2013 3:13am Oct 3, 2013 3:13am
Quoting peterwest
{quote} For SLs and Targets is it still the same as on the old post, or do you use TMA targets?
Still the same as the old posts. It's a swing target, more accurate and it stays with the current level of volatility.
  • #6,264
  • Oct 3, 2013 3:17am Oct 3, 2013 3:17am
Quoting peterwest
{quote} For SLs and Targets is it still the same as on the old post, or do you use TMA targets?
Right now you should have gotten an alert regarding price penetrating TMA1. If chinkou crosses above tenkan now and chinkou is above price, that validates a long scalp entry. As of this chart, no entry yet.
Attached Image (click to enlarge)
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  • #6,265
  • Oct 3, 2013 3:19am Oct 3, 2013 3:19am
Quoting maflip
{quote} Right now you should have gotten an alert regarding price penetrating TMA1. If chinkou crosses above tenkan now and chinkou is above price, that validates a long scalp entry. As of this chart, no entry yet. {image}
Also, noticed the gold line acted as a support at this 1 min TF. If you change this to 15 min TF it acts as a support for that TF too.
  • #6,266
  • Oct 3, 2013 3:22am Oct 3, 2013 3:22am
Quoting maflip
{quote} Also, noticed the gold line acted as a support at this 1 min TF. If you change this to 15 min TF it acts as a support for that TF too.
Now, there's a valid entry with TP/SL. Let's see what happens.
Attached Image (click to enlarge)
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  • #6,267
  • Oct 3, 2013 3:25am Oct 3, 2013 3:25am
Quoting maflip
{quote} Now, there's a valid entry with TP/SL. Let's see what happens. {image}
Boy, now I sound like a guru hah hah. Sounds similar to my first post regarding trend trade right? It's more effective if it's a bounce up from the bottom of the 5 min TMA. But, let's see how this trade goes.
  • #6,268
  • Oct 3, 2013 3:29am Oct 3, 2013 3:29am
Quoting maflip
{quote} Boy, now I sound like a guru hah hah. Sounds similar to my first post regarding trend trade right? It's more effective if it's a bounce up from the bottom of the 5 min TMA. But, let's see how this trade goes.
Meh, there's news in 2 mins. Normally I'm not even trading at this time. But, that's how I do it.
  • #6,269
  • Oct 3, 2013 3:50am Oct 3, 2013 3:50am
Quoting maflip
{quote} Meh, there's news in 2 mins. Normally I'm not even trading at this time. But, that's how I do it.
In a real scenario, I wouldn't be trading this pair right now. Volatility is low on this one. But, I'm sure you get the chinkou vs tenkan entry rule now.
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  • #6,270
  • Oct 3, 2013 3:53am Oct 3, 2013 3:53am
Quoting maflip
{quote} In a real scenario, I wouldn't be trading this pair right now. Volatility is low on this one. But, I'm sure you get the chinkou vs tenkan entry rule now. {image}
And, this one got stoppped out.
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  • #6,271
  • Oct 3, 2013 3:57am Oct 3, 2013 3:57am
Quoting maflip
{quote} Boy, now I sound like a guru hah hah. Sounds similar to my first post regarding trend trade right? It's more effective if it's a bounce up from the bottom of the 5 min TMA. But, let's see how this trade goes.
I was in that trade aswell...it just hit my SL :S

For some reason my MA of ATR is higher. I guess it's just broker data being different.

Do you have alerts, or just visual checks?
  • #6,272
  • Oct 3, 2013 4:02am Oct 3, 2013 4:02am
Quoting peterwest
{quote} I was in that trade aswell...it just hit my SL :S For some reason my MA of ATR is higher. I guess it's just broker data being different. Do you have alerts, or just visual checks?
I have TMA 1 and 5 alerts and chinkou alert, it's with the template I attached. And, by the way, TP hit now ahhah hah hah. After sample trade got stopped out. It's part of the game. Also, safter to trade when TMA 1 or 5 is penetrated before taking an entry.
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  • #6,273
  • Oct 3, 2013 4:02am Oct 3, 2013 4:02am
and now it shoots up...
  • #6,274
  • Oct 3, 2013 4:03am Oct 3, 2013 4:03am
Quoting peterwest
{quote} I was in that trade aswell...it just hit my SL :S For some reason my MA of ATR is higher. I guess it's just broker data being different. Do you have alerts, or just visual checks?


By the way, during my sample trade, no entry should have been taken in a real account as news is coming out in less than 30 mins.
  • #6,275
  • Oct 3, 2013 4:04am Oct 3, 2013 4:04am
Quoting maflip
{quote} I have TMA 1 and 5 alerts and chinkou alert, it's with the template I attached. And, by the way, TP hit now ahhah hah hah. After sample trade got stopped out. It's part of the game. Also, safter to trade when TMA 1 or 5 is penetrated before taking an entry. {image}
Do you mean in this scenario we were aiming for a long, so you need an M1 M5 TMA bottom cross befor opening a position?
  • #6,276
  • Oct 3, 2013 4:04am Oct 3, 2013 4:04am
Quoting peterwest
and now it shoots up...
Yeap, it happens like that, don't trade 30 mins after the news remember? It was only a sample trade...
  • #6,277
  • Oct 3, 2013 4:06am Oct 3, 2013 4:06am
Quoting peterwest
{quote} Do you mean in this scenario we were aiming for a long, so you need an M1 M5 TMA bottom cross befor opening a position?
It would have been safer if that was the scenario first yes and if there's good volatililty to go with it. If not, look for another pair to trade. Lot's of them out there.
  • #6,278
  • Oct 3, 2013 4:17am Oct 3, 2013 4:17am
Quoting iTrader
oh look at that beauty. Nzd/Jpy, i got a little bit too late at my desk, so i couldnt enter this setup, nice SHS Pattern and a series of higher lows, the entry would have been at 81.20, now im looking for a retest of that 81.20/25 area to enter with a stop at 80,95 and a limit at 81,85.. lets see, if it will give me this entry price. {image}
I jumped in at 81.20 with the before mentioned stop and limit, lets see where the ride goes.
consistency wins
  • #6,279
  • Oct 3, 2013 4:19am Oct 3, 2013 4:19am
Quoting peterwest
and now it shoots up...
Or, after the stop out, you could have re-entered right here after chinkou re crosses above tenkan.
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  • #6,280
  • Oct 3, 2013 5:21am Oct 3, 2013 5:21am
Quoting maflip
{quote} It would have been safer if that was the scenario first yes and if there's good volatililty to go with it. If not, look for another pair to trade. Lot's of them out there.
I'm just wondering, you don't always follow the rule of trading only after a TMA cross. Even if you would, a TMA cross in the opposite direction could even indicate a trend change, so it's not always safe. What do you think? The way I noticed with the previous trade, the issue was more with the news being there...

Anyway the way I see the rules:

M15 for overall direction
M1 ATR 14 over MA 1440 for atleast 30 minutes.
No tradig before and after news for 30 minutes.
If Blue line above yellow line, then wait for white line to cross above blue line.
SL previous low or high + current ATR
TP the same as SL
If there is a TMA M1 M5 cross in the opposite direction before entry, then we can be more confident in trade.
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