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Daytrading/scalping with high leverage - my proven strategy

  • Linked: 1 Lot - 1.000 $ | Brokerage Account XXX82
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  • #6,301
  • Oct 3, 2013 11:39am Oct 3, 2013 11:39am
Quoting peterwest
By the way, there are so many pairs and quite a few filters (m15 bigger picture, ATR rule, TMA rule, then finally the trigger from chikou tenkan cross). So many filters over so many pairs takes a lot of time to view. Do you just switch from pair to pair until you find one that's good, or do you have some sort of dashboard for the ATR filter aswell?
Yeap, I view them like this, it's so obvious which one is ranging or not just by taking a quick look. I got no ATR alert at the moment... It would be nice if there is. It will make my life easier... All the tools I have are free just downloaded from FF.
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  • #6,302
  • Oct 3, 2013 11:41am Oct 3, 2013 11:41am
Quoting maflip
{quote} Yeap, I view them like this, it's so obvious which one is ranging or not just by taking a quick look. I got no ATR alert at the moment... It would be nice if there is. It will make my life easier... All the tools I have are free just downloaded from FF. {image}
But, the good news is. Obviously you will get good volatility at market open every time for at least an hour 99% of the time.
  • #6,303
  • Oct 3, 2013 11:44am Oct 3, 2013 11:44am
Quoting 4xplosion
Maflip, you posted a referal to a broker with low spreads, was wondering if you could post the link...would greatly appreciate it...thx!
w w w // myfxchoice // com

The only thing preventing me from trading at MT4 is because of this money management tool I use for Jforex. If there is something very similar out there for MT4? If so, I'd be happy to trade in MT4. Jforex is giving me trouble sometimes, like freezing when placing trades. It also starts slower.

http://smartfx.eu/trader.php
  • #6,304
  • Edited Dec 13, 2013 12:39pm Oct 3, 2013 12:13pm | Edited Dec 13, 2013 12:39pm
Quoting maflip
{quote} w w w // myfxchoice // com The only thing preventing me from trading at MT4 is because of this money management tool I use for Jforex. If there is something very similar out there for MT4? If so, I'd be happy to trade in MT4. Jforex is giving me trouble sometimes, like freezing when placing trades. It also starts slower. http://smartfx.eu/trader.php
http://www.pointzero-trading.com/Pro...deManagerProEA

Don't know if this is what you are looking for and I haven't tried it, however, their other indicators http://www.pointzero-trading.com/Pro...portResistance work quite well....attached is a copy but works only on demo....maybe someone here could fix it to work on Real account...
  • #6,305
  • Oct 3, 2013 1:01pm Oct 3, 2013 1:01pm
Also, just came across this one...looks interesting:

http://www.forexpitstop.com/
  • #6,306
  • Oct 3, 2013 1:35pm Oct 3, 2013 1:35pm
Quoting 4xplosion
Also, just came across this one...looks interesting: http://www.forexpitstop.com/
Both you mentioned looks like something i can really use. I'm going to take a look at them.

Thanks!
  • #6,307
  • Oct 3, 2013 2:17pm Oct 3, 2013 2:17pm
Quoting maflip
{quote} w w w // myfxchoice // com The only thing preventing me from trading at MT4 is because of this money management tool I use for Jforex. If there is something very similar out there for MT4? If so, I'd be happy to trade in MT4. Jforex is giving me trouble sometimes, like freezing when placing trades. It also starts slower. http://smartfx.eu/trader.php
Actually I just checked out fxopen.com they have a tighter spread...
  • #6,308
  • Oct 3, 2013 3:46pm Oct 3, 2013 3:46pm
Quoting 4xplosion
{quote} http://www.pointzero-trading.com/Pro...deManagerProEA Don't know if this is what you are looking for and I haven't tried it, however, their other indicators http://www.pointzero-trading.com/Pro...portResistance work quite well....attached is a copy but works only on demo....maybe someone here could fix it to work on Real account... {file} {file}

Thanks for sharing. I checked both indis: the first one is not good as it draws to many unnecessary S/R levels and clutters your chart making it a mess (for those of us who try to keep their chart as clean as possible). The second one seems to be the real deal. The major S/R levels are highlighed accordingly to its apparent importance. The drawback of this indi is that minor S/R are all taken by the whips which most of the time don't make much sense. I still think that nothing replaces your own hand drawn S/R lines if you have at least 2 neurons working at it:nerd:.
  • #6,309
  • Oct 3, 2013 4:05pm Oct 3, 2013 4:05pm
maflip....pm sent!
  • #6,310
  • Oct 3, 2013 4:08pm Oct 3, 2013 4:08pm
Quoting keen246
{quote} Thanks for sharing. I checked both indis: the first one is not good as it draws to many unnecessary S/R levels and clutters your chart making it a mess (for those of us who try to keep their chart as clean as possible). The second one seems to be the real deal. The major S/R levels are highlighed accordingly to its apparent importance. The drawback of this indi is that minor S/R are all taken by the whips which most of the time don't make much sense. I still think that nothing replaces your own hand drawn S/R lines if you have at least 2...
Agree....deleted the 1st one from post....s/r more beneficial with higher tf's ...hour and above.....
  • #6,311
  • Oct 3, 2013 5:44pm Oct 3, 2013 5:44pm
Unfortunately I can't get TMA to give an alert when price breaks upper or lower line. Also I would prefer to use non repainting TMA-s (attached below), but I can't get the TMA to give an alert on that either. Any suggestions with either TMA, because it would make my trading alot easier.

How do you do it Maflip?
Attached File(s)
File Type: mq4 TmaTrue.mq4   8 KB | 306 downloads
  • #6,312
  • Oct 3, 2013 7:59pm Oct 3, 2013 7:59pm
Quoting peterwest
Unfortunately I can't get TMA to give an alert when price breaks upper or lower line. Also I would prefer to use non repainting TMA-s (attached below), but I can't get the TMA to give an alert on that either. Any suggestions with either TMA, because it would make my trading alot easier. How do you do it Maflip? {file}
Mine is giving alerts, just enable it.
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  • #6,313
  • Oct 3, 2013 11:45pm Oct 3, 2013 11:45pm
Testing Kijun - Chinnkou cross with TMA and BHE, hope to have better results.
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  • #6,314
  • Oct 4, 2013 2:16am Oct 4, 2013 2:16am
Do you trade on fridays aswell? Is it only a question of ATR?
  • #6,315
  • Oct 4, 2013 2:41am Oct 4, 2013 2:41am
NU is weak, it's deceiving because price is still above Kijun. However, there was two attempts already and 2 failed chinkou buy that failed there as well. This in my opinion in regards to price action is NU is weak. So, I have a counter trend short on NU right now. We'll see what happens. I could be wrong. If you want confirmation, wait till chinkou crosses below tenkan on the 15 mins chart. However, as for me I'm hitting it short early. BTW trade your own signals.
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  • #6,316
  • Oct 4, 2013 2:42am Oct 4, 2013 2:42am
Quoting peterwest
Do you trade on fridays aswell? Is it only a question of ATR?
Yes, but only the London session. If I'm wrong on this NU trade that's it I'm done for the whole week. Reason, I don't want to be holding any bag on the weekends.
  • #6,317
  • Oct 4, 2013 2:58am Oct 4, 2013 2:58am
Quoting peterwest
Do you trade on fridays aswell? Is it only a question of ATR?
How's your trading doing though?
  • #6,318
  • Oct 4, 2013 3:07am Oct 4, 2013 3:07am
Ah but GU is the best short right now... Oh well...
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  • #6,319
  • Oct 4, 2013 3:37am Oct 4, 2013 3:37am
Quoting maflip
{quote} How's your trading doing though?
I must say, I like the strategy. So far I got two good trades on Wednesday and 1 good 1 bad on Thursday, but overall up in pips. Only demo so no worries, but I plan on using this on my live account after sufficient practice. No trading today, since in the past I never traded Fridays and I'm getting all other project done today (University stuff...yes, I am also a uni student:nerd:blush:.

I'm open to all M1 scalp strategies, but I like the combination of smart indicators in this one. They are all there for a reason. Ichi and TMA define directon, whilst ATR shows volatility. You get a pullback, then a trigger and you're in. However I do have a few problems.

My main issues are the following:
1. I'm having trouble keeping an eye on the M15 TF. At the moment I just define the overall direction via tenkan above or below kijun. However I feel that there are more signals I should be looking for, so can you please elaborate. In time I'm sure I will notice patterns, but until then can you please bring some examples.
2. It's probably because of broker data, but you seem to have ATR over 1440 MA more often then I do on EURJPY. It's kind of bugging me but what can you do

One thing I don't like in most strategies is switching from pair to pair, from TF to TF, looking for a trade. This can often lead to "over trading', so I prefer trades to present themselves. I like using alerts, so I don't have to actively search for trades. At the moment I use the TMA M1 alert. If it goes off, I switch to M15 for overall direction, then switch back for ATR rule, then wait for triger. In the future, I'm hoping to find some sort of dashboard or a programmer who can make a dashboard for the ATR rule as well.

Either way, I'm finding your posts very helpful, so please keep it going. I might even PM you with more details to make our mutual trading more successful.

Regards,
Peter
  • #6,320
  • Oct 4, 2013 3:55am Oct 4, 2013 3:55am
Hi, All !
I am newbie here. Where can I find this template wiht indicators? Thanks.
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