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Daytrading/scalping with high leverage - my proven strategy

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  • #6,381
  • Oct 10, 2013 3:49am Oct 10, 2013 3:49am
EJ short , TMA1 over TMA5 and TMA60, CT trade looing for 7 - 10 pips.
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  • #6,382
  • Oct 10, 2013 3:51am Oct 10, 2013 3:51am
Careful, it was news that drove the price up.
  • #6,383
  • Oct 10, 2013 4:50am Oct 10, 2013 4:50am
Quoting peterwest
Careful, it was news that drove the price up.
Sure.
  • #6,384
  • Edited 9:59am Oct 10, 2013 7:44am | Edited 9:59am
I thought of a hedging strategy to use instead of a stop loss. Instead of a stop, a position will be hedged and then once a trend is confirmed. Positions will be tapered slowly and in the end the trader ends with 0 loss. This will only work once a trend is confirmed. (Still better than taking a full stop loss right? At least with this you got a chance of breaking even) So it will go something like this, trader opens a long but it goes the opposite way, starts to hedge, trend is confirmed to the downside, tapering off positions begin.

Example:

Buy 10
Hedge stop 10
Pair keeps going down
Sell 2 at -2 pips 8 Long positions left
Buy 2 at +4 Pips 8 Short posistions left
Sell 2 at -6 pips 6 Long positions left
Buy 2 at +8 more pips 6 Short positions left
Sell 2 at -10 pips 4 Long positions left
Buy 2 at +12 more pips 4 short positions left
Sell 2 at -14 Pips 2 Long positions left
buy 2 at +16 more pips 2 Long positions left
Sell 2 at -18 Pips 0 Long positions left
Buy 2 at +20 more pips 0 long positions left. Result, you are now at breakeven.

This is too much work done manually, any nice programmer willing to do this? So once a trend is confirmed the trader will start a script to start tapering off positions to break even.
  • #6,385
  • Oct 10, 2013 7:59am Oct 10, 2013 7:59am
Quoting maflip
I thought of a hedging strategy to use instead of a stop loss. Instead of a stop, a position will be hedged and then once a trend is confirmed. Positions will be tapered slowly and in the end the trader ends with 0 loss. This will only work once a trend is confirmed. (Still better than taking a full stop loss right? At least with this you got a chance of breaking even) So it will go something like this, trader opens a long but it goes the opposite way, starts to hedge, trend is confirmed to the downside, tapering off positions begin. Example: Buy...
Or, another thing you can do is just taper off the loosing positions and let the winners run. But, the downside to this is what if the trend is short then it starts to reverse again, you just lost the chance to taper of the winners. Nothing is perfect but I think this is a good plan. I will give this one a try on demo. I still think this should be automated though...
  • #6,386
  • Oct 10, 2013 10:12am Oct 10, 2013 10:12am
Quoting maflip
I thought of a hedging strategy to use instead of a stop loss. Instead of a stop, a position will be hedged and then once a trend is confirmed. Positions will be tapered slowly and in the end the trader ends with 0 loss. This will only work once a trend is confirmed. (Still better than taking a full stop loss right? At least with this you got a chance of breaking even) So it will go something like this, trader opens a long but it goes the opposite way, starts to hedge, trend is confirmed to the downside, tapering off positions begin. Example: Buy...
I think I found the tool that can do this. Awesome!

http://www.az-invest.eu/trade-manager-for-metatrader
  • #6,387
  • Oct 10, 2013 10:27am Oct 10, 2013 10:27am
Quoting maflip
{quote} Or, another thing you can do is just taper off the loosing positions and let the winners run. But, the downside to this is what if the trend is short then it starts to reverse again, you just lost the chance to taper of the winners. Nothing is perfect but I think this is a good plan. I will give this one a try on demo. I still think this should be automated though...

A similar idea has been around my mind but I haven't put it together yet. But in your approach I think you overlooked the spread or I didn't understand quite well. The way I see your strategy you don't end up BE but with a loss due to the spread.
  • #6,388
  • Oct 10, 2013 10:38am Oct 10, 2013 10:38am
Quoting keen246
{quote} A similar idea has been around my mind but I haven't put it together yet. But in your approach I think you overlooked the spread or I didn't understand quite well. The way I see your strategy you don't end up BE but with a loss due to the spread.
Yes you are right, it's only an example, we can widen the TP to compensate for the spread and commission, so instead of taking TP every 2 extra pips we can make it 4 pips depending on spread. Another thing, this is better done in a low spread broker like an ECN.

But, let's say it's still a loss due to spread, it's still much better than taking a full stop out. However, like I said, we can just increase the TP.
  • #6,389
  • Oct 10, 2013 10:45am Oct 10, 2013 10:45am
So a modified version would be something like this, pretend the spread is 1 pip.

Buy 10
Hedge stop 10
Pair keeps going down
Sell 2 at -2 pips 8 Long positions left
Buy 2 at +5 Pips 8 Short posistions left
Sell 2 at -7 pips 6 Long positions left
Buy 2 at +10 more pips 6 Short positions left
Sell 2 at -12 pips 4 Long positions left
Buy 2 at +15 more pips 4 short positions left
Sell 2 at -17 Pips 2 Long positions left
buy 2 at +20 more pips 2 Long positions left
Sell 2 at -22 Pips 0 Long positions left
Buy 2 at +23 more pips 0 long positions left. Result, you are now at breakeven.

Its a 5 level tp/sl.
  • #6,390
  • Oct 10, 2013 10:47am Oct 10, 2013 10:47am
Quoting maflip
So a modified version would be something like this, pretend the spread is 1 pip. Buy 10 Hedge stop 10 Pair keeps going down Sell 2 at -2 pips 8 Long positions left Buy 2 at +5 Pips 8 Short posistions left Sell 2 at -7 pips 6 Long positions left Buy 2 at +10 more pips 6 Short positions left Sell 2 at -12 pips 4 Long positions left Buy 2 at +15 more pips 4 short positions left Sell 2 at -17 Pips 2 Long positions left buy 2 at +20 more pips 2 Long positions left Sell 2 at -22 Pips 0 Long positions left Buy 2 at +23 more pips 0 long positions left....
Too much work when day trading, we need a script for this. I hope this one I'm looking at is the one that I think can do it.
  • #6,391
  • Oct 10, 2013 8:50pm Oct 10, 2013 8:50pm
Quoting Axiomafx
Comparing. {image} {image} {image}
Which are these 3 MAs?
  • #6,392
  • Oct 11, 2013 1:53am Oct 11, 2013 1:53am
Quoting maflip
So a modified version would be something like this, pretend the spread is 1 pip. Buy 10 Hedge stop 10 Pair keeps going down Sell 2 at -2 pips 8 Long positions left Buy 2 at +5 Pips 8 Short posistions left Sell 2 at -7 pips 6 Long positions left Buy 2 at +10 more pips 6 Short positions left Sell 2 at -12 pips 4 Long positions left Buy 2 at +15 more pips 4 short positions left Sell 2 at -17 Pips 2 Long positions left buy 2 at +20 more pips 2 Long positions left Sell 2 at -22 Pips 0 Long positions left Buy 2 at +23 more pips 0 long positions left....
I've been trying to understand your logic here, but no luck. Can you attach a picture with illustrations?
  • #6,393
  • Oct 11, 2013 2:12am Oct 11, 2013 2:12am
Quoting peterwest
{quote} I've been trying to understand your logic here, but no luck. Can you attach a picture with illustrations?
I will when I finally got a trade that needs hedging. I've been practicing it on demo so far the hedge stop has not hit yet. I haven't lost a trade on demo yet to show a sample trade.

When I finally got a hedge I'll show some pictures.

I'm using this software to do this hedging strategy that i mentioned. This software is great.

http://www.az-invest.eu/trade-manager-for-metatrader
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  • #6,394
  • Oct 11, 2013 2:17am Oct 11, 2013 2:17am
Quoting maflip
{quote} I will when I finally got a trade that needs hedging. I've been practicing it on demo so far the hedge stop has not hit yet. I haven't lost a trade on demo yet to show a sample trade. When I finally got a hedge I'll show some pictures. I'm using this software to do this hedging strategy that i mentioned. This software is great. http://www.az-invest.eu/trade-manager-for-metatrader {image}
I got the software setup like this for a hedge with an 18 pips hedge stop. I will show the result when I finally got a hedge trade.
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  • #6,395
  • Oct 11, 2013 2:28am Oct 11, 2013 2:28am
Quoting maflip
{quote} I got the software setup like this for a hedge with an 18 pips hedge stop. I will show the result when I finally got a hedge trade. {image} {image}
Figured it out yet? As you know I'm bad at explaining so I'll let you figure this out. It's not a 1 sided hedge, there's TP/SL at the other side too in case it reverses direction. I'll show the result later though. If I miscalculate something let me know. It's not perfect because if it changes trend then you still have some losers. But with this strategy if it changes direction the max you will lose is 40% of your risk not the 100%.
  • #6,396
  • Oct 11, 2013 2:37am Oct 11, 2013 2:37am
Quoting maflip
{quote} I got the software setup like this for a hedge with an 18 pips hedge stop. I will show the result when I finally got a hedge trade. {image} {image}
At this time, this is setup with a spread of 1 pip(fee paid to a broker for non ecn accounts). If you want this to be a profit instead of break even. Just increase the TP by 1 or 2 more pips.

This is better than uncontrolled revenge trading and averaging on loosing trade in my opinion.
  • #6,397
  • Oct 11, 2013 4:15am Oct 11, 2013 4:15am
Quoting maflip
{quote} Figured it out yet? As you know I'm bad at explaining so I'll let you figure this out. It's not a 1 sided hedge, there's TP/SL at the other side too in case it reverses direction. I'll show the result later though. If I miscalculate something let me know. It's not perfect because if it changes trend then you still have some losers. But with this strategy if it changes direction the max you will lose is 40% of your risk not the 100%.
I still don't get it 100%. I know you're not proudest of your english, so i'll await the picture
  • #6,398
  • Oct 11, 2013 4:52am Oct 11, 2013 4:52am
Quoting peterwest
{quote} I still don't get it 100%. I know you're not proudest of your english, so i'll await the picture
hah hah ok, ask keen246 he seems to get it.

I got two trades on demo right now, hopefully it will get hedged.
  • #6,399
  • Oct 11, 2013 6:02am Oct 11, 2013 6:02am
It has been a while since I have posted here. Thought I would share the chart I work with, Inspired by Fav. It is the same idea as his, just with MAs and not the Ichi. I changed the Babon, which I consider a great tool (Thanks Fav!) to 21. This was a quick 7 points (3%).
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Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #6,400
  • Oct 11, 2013 6:09am Oct 11, 2013 6:09am
Quoting capstone
It has been a while since I have posted here. Thought I would share the chart I work with, Inspired by Fav. It is the same idea as his, just with MAs and not the Ichi. I changed the Babon, which I consider a great tool (Thanks Fav!) to 21. This was a quick 7 points (3%). {image}
Cool keep posting, this way we can all help and learn from each other.
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