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Daytrading/scalping with high leverage - my proven strategy

  • Linked: 1 Lot - 1.000 $ | Brokerage Account XXX82
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  • #6,541
  • Nov 4, 2013 10:25am Nov 4, 2013 10:25am
I can't really interpret the different lines and color. Which is the TMA M1, M5 and M15?

Anybody who participated in creating the strategy, can you please answer my previous question: how strictly should the "distance to M5 TMA should be at least 10 pips" rule be followed?
  • #6,542
  • Nov 4, 2013 11:08am Nov 4, 2013 11:08am
Quoting peterwest
I can't really interpret the different lines and color. Which is the TMA M1, M5 and M15? Anybody who participated in creating the strategy, can you please answer my previous question: how strictly should the \"distance to M5 TMA should be at least 10 pips\" rule be followed?
Sorry Im new to this system. I think the more near it is to the bands the more it can go (to the posit direction). But today seems me very flat all.


Attached Image

I have different colours for all timeframes as also with S/R, so I changed them.
Scan all 28 Forex pairs with ONE chart... Currency Strength28 Indicators
  • #6,543
  • Nov 4, 2013 1:29pm Nov 4, 2013 1:29pm
Quoting peterwest
I can't really interpret the different lines and color. Which is the TMA M1, M5 and M15? Anybody who participated in creating the strategy, can you please answer my previous question: how strictly should the \"distance to M5 TMA should be at least 10 pips\" rule be followed?
I think that rule is created so that you are only playing the market when there's good volatility and when there's enough room for the market to run. As for me, I never follow it because my TP/SL depends on the swing. It can be just a 3 - 4, or 10-30 pips swing and I will still take the trade, I just adjust my position so that regardless of the TP/SL my risk reward will always be the same.
  • #6,544
  • Nov 4, 2013 6:12pm Nov 4, 2013 6:12pm
maflip, very interesting. May explain MM and RR you are using.

An example here.

http://www.forexfactory.com/showthre...06#post6831406
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you is your system, your system is you.
  • #6,545
  • Edited 4:16pm Nov 5, 2013 4:02pm | Edited 4:16pm
Quoting Bernhard
{quote} I read it many times about use a lock instead of SL. Please excuse the question, i know SL and hedging but what is lock?
I made a mistake of adding shorts to AJ then they whipsaw it up so I locked the trade (15mins chart). Anyway, here's how I would manage this lock. There's a channel right now so I placed stops on top/below the channel and with a higher TP. Meaning once a trend confirms after the break of the channel the losers will be removed first then the winners will run. If it works out then the trend confirms on one side this trade will still be a winner. Only thing I'm worried about is IC Markets stupid 120% margin call level, once the losers gets tapered off I need enough breathing space for it to hit the TP. We'll see what happens, at this moment this trade is at the mercy of AJ and hopefully once it breaks the channel it keeps going one way. This AJ trade will decide if this small account will live or die

If it works it is estimated I can still make $28.80 without commission and swap deducted. Well see what happens.
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  • #6,546
  • Nov 5, 2013 4:10pm Nov 5, 2013 4:10pm
Will you only trade swing style in the future as well?

Just out of curiosity, your TMA settings are HalfLenth = 20, ATR multiplier = 2.0, ATR period = 100?
  • #6,547
  • Nov 5, 2013 4:21pm Nov 5, 2013 4:21pm
Quoting peterwest
Will you only trade swing style in the future as well? Just out of curiosity, your TMA settings are HalfLenth = 20, ATR multiplier = 2.0, ATR period = 100?
No, I trade better with scalping. Once Pepperstone approves my account application I will start scalping with my main account there.

My TMA settings is the default.
  • #6,548
  • Nov 6, 2013 2:01am Nov 6, 2013 2:01am
Quoting maflip
{quote} I made a mistake of adding shorts to AJ then they whipsaw it up so I locked the trade (15mins chart). Anyway, here's how I would manage this lock. There's a channel right now so I placed stops on top/below the channel and with a higher TP. Meaning once a trend confirms after the break of the channel the losers will be removed first then the winners will run. If it works out then the trend confirms on one side this trade will still be a winner. Only thing I'm worried about is IC Markets stupid 120% margin call level, once the losers gets...
I tried on a demo this out. Need to wait one trade comes into profit and then reverse (maybe that doesnt matter). So when its reverse (or get a clear direction) I take the profit of that trade and hope the looser loosing his loss. BUT pure mathermatically its the same as I would have taken a SL in the first place and a new order in the last except 1 spread and a clearer mind.
Scan all 28 Forex pairs with ONE chart... Currency Strength28 Indicators
  • #6,549
  • Nov 6, 2013 2:43am Nov 6, 2013 2:43am
Quoting Bernhard
{quote} I tried on a demo this out. Need to wait one trade comes into profit and then reverse (maybe that doesnt matter). So when its reverse (or get a clear direction) I take the profit of that trade and hope the looser loosing his loss. BUT pure mathermatically its the same as I would have taken a SL in the first place and a new order in the last except 1 spread and a clearer mind.
Yup it's the same as taking a stop loss but you have more options to work around the loss if its a hedge. When you take the stop loss that's it you are already done. But most importantly it depends on trader preference of style of which he/she chooses.
  • #6,550
  • Nov 6, 2013 3:28am Nov 6, 2013 3:28am
Quoting maflip
{quote} Yup it's the same as taking a stop loss but you have more options to work around the loss if its a hedge. When you take the stop loss that's it you are already done. But most importantly it depends on trader preference of style of which he/she chooses.

please keep updating. I like to see how you manage it. wish you good luck
Scan all 28 Forex pairs with ONE chart... Currency Strength28 Indicators
  • #6,551
  • Nov 6, 2013 3:30am Nov 6, 2013 3:30am
Quoting Bernhard
{quote} please keep updating. I like to see how you manage it. wish you good luck
Sure thing

My main enemy right now is the margin, if it goes down at my 100% margin it will close positions due to broker limitation even if there's still equity in the account.
  • #6,552
  • Nov 6, 2013 6:12am Nov 6, 2013 6:12am
Hi there maflip

You have some pdf with rules that you use, or you are using favorites rules.
  • #6,553
  • Nov 6, 2013 11:32am Nov 6, 2013 11:32am
Igor - don't know if you're aware but there is a version of that Mashki indi with signals but I haven't figured out how to set them yet.
  • #6,554
  • Nov 6, 2013 11:50am Nov 6, 2013 11:50am
Quoting handy148
Igor - don't know if you're aware but there is a version of that Mashki indi with signals but I haven't figured out how to set them yet.

is this a kind of Heiken Ashi candles?
Scan all 28 Forex pairs with ONE chart... Currency Strength28 Indicators
  • #6,555
  • Nov 6, 2013 11:57am Nov 6, 2013 11:57am
It appears to be just a visual aid showing whether price above/below your chosen MA.
  • #6,556
  • Nov 7, 2013 7:00am Nov 7, 2013 7:00am
+100 pips
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you is your system, your system is you.
  • #6,557
  • Nov 7, 2013 7:39am Nov 7, 2013 7:39am
Hope that was on a real account! Don't miss the fact that was just a luck strike. For retail traders it's not possible to know where the price will skyrocket when some fundamentals are announced (delayed for retail traders).
  • #6,558
  • Nov 7, 2013 7:47am Nov 7, 2013 7:47am
Quoting keen246
Hope that was on a real account! Don't miss the fact that was just a luck strike. For retail traders it's not possible to know where the price will skyrocket when some fundamentals are announced (delayed for retail traders).
I suggest trying Understand ECB x EDF game. :nerd:
you is your system, your system is you.
  • #6,559
  • Nov 7, 2013 8:57am Nov 7, 2013 8:57am
Is not easy, I do not have many hairs are falling all.
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you is your system, your system is you.
  • #6,560
  • Nov 7, 2013 12:55pm Nov 7, 2013 12:55pm
Bleh mission failed, news threw away all technical analysis. I should just stick to scalping.
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