When all conditions are met - Enter trade - sit back and FRET !!!
Daytrading/scalping with high leverage - my proven strategy
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- #6,642
- Dec 9, 2013 2:20am Dec 9, 2013 2:20am
- | Commercial User | Joined Aug 2013 | 2,937 Posts
Hi guys! I know that people like reading my posts.
keep going mate
Scan all 28 Forex pairs with ONE chart... Currency Strength28 Indicators
- #6,643
- Dec 9, 2013 8:02am Dec 9, 2013 8:02am
- | Membership Revoked | Joined May 2011 | 2,976 Posts
Gentlemen always play by the rules. If they can't, they change the rules.
- #6,645
- Dec 10, 2013 11:18am Dec 10, 2013 11:18am
- | Membership Revoked | Joined May 2011 | 2,976 Posts
Gentlemen always play by the rules. If they can't, they change the rules.
{quote} I found Babon Slope and traded it on M15 (EurJpy, GbpJpy, GbpUsd) very successfully,
I'm very interested in this!
Thank you for all! I don't have enough words to thank you for all that you do for us!
For me, in this business , YOU ARE THE BEST, THE GREATEST!!!
- #6,647
- Edited 12:28pm Dec 11, 2013 12:14pm | Edited 12:28pm
- | Membership Revoked | Joined May 2011 | 2,976 Posts
Thank you for all! I don't have enough words to thank you for all that you do for us!
For me, in this business , YOU ARE THE BEST, THE GREATEST!!!
Can you give us more details about this? I'm very interested in this!
As you know, Babon Slope's settings are very important because it is a very accurate indicator. For M15 I tried different settings (24, 21, 20, 17, 15) and I think I ended up with 17 (I think, but I'm not sure, because it was a long time ago). I had two charts, M15 and H1. H1 was clean, no indicators, just Japanese candles. M15 contained Babon Slope. I would determine H1's trend looking at H1's Price Action. Let's say H1 trend is up. Then I would go to the M15 and wait until Babon Slope changes from red to white and I would enter on the second "white" candle (if the previous candle was too big, I would wait for a better entry). Once again, it was a long time ago, so I'm not sure about SL, I think it was 20 pips. No TP, sometimes I would exit with 15-20 pips, sometimes I would wait until the Babon Slope would start changing it's color.
So, as you can see, it is not a complete system with established rules, it was just my way at the time, my "golden mean" between PA and a very good indicator. I traded this way mostly GBPJPY and GBPUSD, sometimes EURJPY (if I had GBPJPY and EURJPY signals at the same time, I would take GBPJPY), never had more than one opened trade. MM - the usual, 1 lot per 10K. And, of course, if I couldn't determine the H1's trend, I wouldn't trade at all.
Gentlemen always play by the rules. If they can't, they change the rules.
{quote} Thank you, Flaviu1981, it is really very nice of you! {quote} Can't argue with that!
Now I make some backtests with 10 and works well.
Babon is one of the best indicators that I seen.
Another good indicator are: xSuperTrend
http://www.forexfactory.com/showthread.php?t=329399
I hope to be helpful!
Regards,
Flaviu
- #6,649
- Dec 11, 2013 12:51pm Dec 11, 2013 12:51pm
- | Membership Revoked | Joined May 2011 | 2,976 Posts
Gentlemen always play by the rules. If they can't, they change the rules.
Thanks favourite, I didn't remember how much info was already in this thread. Anyways I took some time and re-read the thread, downloaded the pdf's and started from scratch. I reopened a small account and risking 10 % per trade ala dnabrasil. Here's my first trade, my reasons for entering are as follows ; the 1min TMA was still in in a strong downward trajectory, the hourly chart was in a strong down trend; Babon was correct and there was a good 20+ pips to the mid-point of the 4hr TMA. Anyways it worked out so I'm +15 for the day. Hopefully I can line up another 35 pips and meet my 50 pip daily target 
Island hopping throughout the Caribbean
- #6,651
- Edited 10:34am Dec 19, 2013 10:20am | Edited 10:34am
- | Membership Revoked | Joined May 2011 | 2,976 Posts
Hi dumplin_eater!
First of all, I'm glad that you didn't misunderstand me! Some people who read my answer to you would think: "Favorite is just too lazy, that's why he referred to the Summary instead of showing a trade or two..." But you understood me right - good for you! Yes, the Summary (and PDF) contains all the info, I just can't add anything new!
Congratulation on your win!
But about those 50 pips PER DAY... I'm sure you know what you're doing when you decided to risk 10% per trade ala DNA, but (and it is a BIG "but") DNA with his
MM would be happy with only 22 pips per week because that would double his account in a week. And he is absolutely right: the more we risk per trade, the less pips we need in order to achieve our weekly goal, and doubling an account in a week is a very good goal. So first you have to decide what is your weekly goal, and then calculate how many pips per day would get you this goal with your MM. For example: you want to double your account in a week, and 1 pip is equal to 1%. Then you need only 15% per day (recalculating your lot size every day) to double you account in five days (1.15*1.15*1.15*1.15*1.15=2.01), which means you need only 15 pips per day.
But that's just my two cents. I'm very glad that you went back to the Babon's basics and I wish you many-many green pips!
First of all, I'm glad that you didn't misunderstand me! Some people who read my answer to you would think: "Favorite is just too lazy, that's why he referred to the Summary instead of showing a trade or two..."
But you understood me right - good for you! Yes, the Summary (and PDF) contains all the info, I just can't add anything new!Congratulation on your win!
But about those 50 pips PER DAY... I'm sure you know what you're doing when you decided to risk 10% per trade ala DNA, but (and it is a BIG "but") DNA with his
MM would be happy with only 22 pips per week because that would double his account in a week. And he is absolutely right: the more we risk per trade, the less pips we need in order to achieve our weekly goal, and doubling an account in a week is a very good goal. So first you have to decide what is your weekly goal, and then calculate how many pips per day would get you this goal with your MM. For example: you want to double your account in a week, and 1 pip is equal to 1%. Then you need only 15% per day (recalculating your lot size every day) to double you account in five days (1.15*1.15*1.15*1.15*1.15=2.01), which means you need only 15 pips per day.
But that's just my two cents. I'm very glad that you went back to the Babon's basics and I wish you many-many green pips!
Gentlemen always play by the rules. If they can't, they change the rules.
- #6,652
- Dec 20, 2013 6:29am Dec 20, 2013 6:29am
- Joined Mar 2013 | Status: Trader | 6,512 Posts
hah hah gotta love these fake outs after the news. Fake and reverse bleh one of my favorite trades. Then hit it with a scalp and booyahhh...!!!
I think that's it for this month I won't trade anymore until next year, gonna enjoy the Holidays. It's a measly 20% gain this month. Not as awesome as DNA's 1000% gain a week but hey I'm not as crazy as DNA lol. Actually, I'm already happy if I can just make 10% a month.
This is my first month scalping on an MT4 platform after moving from JForex so far so good.
I still need to beat that 100 fold challenge though
That's another of my goal. Someday... Someday... 
Chart below are from a 15m and 1 min TF EUR/USD
Merry Christmas and Happy New Years to all!!! More pips for all of ya!
I think that's it for this month I won't trade anymore until next year, gonna enjoy the Holidays. It's a measly 20% gain this month. Not as awesome as DNA's 1000% gain a week but hey I'm not as crazy as DNA lol. Actually, I'm already happy if I can just make 10% a month.
This is my first month scalping on an MT4 platform after moving from JForex so far so good.
I still need to beat that 100 fold challenge though
That's another of my goal. Someday... Someday... Chart below are from a 15m and 1 min TF EUR/USD
Merry Christmas and Happy New Years to all!!! More pips for all of ya!
- #6,656
- Dec 22, 2013 4:17pm Dec 22, 2013 4:17pm
- Joined Mar 2013 | Status: Trader | 6,512 Posts
{quote} thank you these post I am confused that which template can i use ? Many tpl's this thread
My method is very similar to Favorites TMA M1/M5, Ichimoku beyond the cloud, higher TF direction, etc with just a little difference in use of indicators but very similar. So understand his summary first and build what works for you. Understand the system and own it.
- #6,657
- Dec 23, 2013 11:47am Dec 23, 2013 11:47am
{quote} Read Favorites summary and start from his template. I shared my template here couple of times but no one can seem to make money of it except me.
Thank you
