Daytrading/scalping with high leverage - my proven strategy

Hi Condor666

Just briefly reading through your thread and really good stuff!


Just interested to know your risk/reward ratio? Does it depend on the trade? What I really like with your 1 min chart strategy is the possibility of a very low SL around 5 pips?


Anyway it makes great reading

Rgds

Jerry

5 pips is a good stop that give a R/R ration of 25% risk to 50% gain but sometimes with luck you can have 25% risk for à 200% reward.

@dna: Encourage you go for little more pips(ex. 10). When have years of experience to come out with the system for a living, must had known the approximate exit(SL) other than no exit, had you try few pip sl strategies for your system, maybe exit below the kumo if bought or above if sold, or whatever?
Had you experimented a one pair that works best for your system in certain time, session?

Hey Condor, do you look at higher TF as well or just trade off the 1 min?

I just trade of the M1 timeframe

I want to share with you my scalping strategy for EUR/USD or USD/CHF and ask you one more thing to add here: (I wont describe strategy accurately - I hope you can see the point)

1. Check Daily Sentimental Analysis (for a bigger picture)
2. Economic Calendar (do not trade during high or medium importance events)
3. Check higher time frames (H4, H1) (for a bigger picture - trade only that direction)
4. Daily pivot points (for extra caution)
5. Check RSI(14), ADX(14) and BB(50,2;50,3) - you know what that indicators tell you
6. US Dollar Index Chart (H1, M30, M15) - combine it with EUR/USD or USD/CHF
7. Look for a shooting star or hammer on M5 and M15
8. Enter a trade on M1 or M5 (1:100 leverage)
9. Set your SL ___ pips away - aim for at least 3-4 pips but never limit your profits (that I added recently-someone said it here and I think it is very important)
10. Take profit and be happy BAM!

I have somewhere around 80% success in scalping, so I was wondering where it would be best to set SL? Thank you for your answers.

Oh, and that strategy works only during London/New York overlap (12 to 4 pm GMT)

what kept you in here, condor? i see a low + higher low and i'm out...

I waited that the green line has been touched

Good morning, my unique trade for today :

10 minutes of work per day, that's wonderfull !

Same here as you sir.
The last line in my Genesis line is always RED....? I don't know why

It looks like a bug, maybe you should reload your template.

Will give it a shot. Thanks

Good morning Traders:

Nothing of interest on the charts but I saw this CT trade with structure and about 10 pips away from the DPV. Reason for considering trade:

 

1. Divergence on M15 & M30 Stox;
2. Divergence coincides with rejection of price @ R1
3. EUR beginning to loose power on the CSM

Hello guys)I developed a forex trading system called six signal day trading/scalping system which i would like to share.It is based on the following rules and parameters which i must obey:
1)Williams indicator(14 period on a 15 minute chart)
2)Relative strenght Index(14 period on a 15 minute chart)
3)Bollinger bands(14 period on a 15 minute chart standard deviation 2)
4)Identification of trend and fibonnacci retracement levels
5)Identification of possible lowest or upper entry point
6)Calculation of profit and loss taking levels(For profit total no of expected pips -spread and for loss total no of expected pips+spread)
Only jump in a trade if all of the above mentioned factors are in favour.
Some useful advices:-
Never expect to hit your profit level as you expected be happy for gaining 3-4% profit of your position size.However you can expect to hit your profit level for short term trends.
Be patient ,disciplined,unemotional,logical and ever vigilant while trading.Think neutrally and don,t let your greed and fear control you while trading.
Only trade when two sessions overlap each other.
This strategy best works during volatile market hours so avoid trading while sluggish and annoying market hours. Slow and calm markets would literally waste your time,effort and money.
Also use some aspects of fundamental analysis they will let you know about the volatility forecast of different pairs. You can use several online sources just Google it.
Keep this strategy clean and simple and don’t paste too many indicators on your chart.
You can see potential entry and exit points on your chart without drawing Fibonacci retracements don,t draw them on short term trends doing so will spoil the visual appearance of your chart.
In forex trading good money management is important to survive so think thrice before choosing your lot size and use strict stop loss orders. The volatile markets will eat your money quickly if you manage your account in a poor way.
There is no way one can trade during all sessions so choose your time accordingly. Sleeping at night is necessary for a good health and a sound mind so don,t try to sacrifice your nights for forex trading and don,t jump in a trade if you are not feeling well and patient due to headache or because of some other reason doing so will effect your decision making during trading in a negative way.
Just look at the chart while trading don’t look below at the amount of money you are gaining or loosing by pip movements. Looking below will influence you in a negative way.
Learn to trade and don,t even bother yourself to look to those scammy online automated forex trading systems .There is no shortcut.
Follow these rules and live by them.
Hope you enjoyed this post thanks for reading)

Hey guys,

As you already know TMA indicator uploaded by Fav & DNA don't work. I tried to compile it but wasn't seccessful.
Could you please upload a working one again???

Hi Condor666,

could you please post the indicators you are using?
I went back several posts, but I didn't find anything.
Thanks,
G.

Gann Hi LO was not downloaded to your indicators folder. Check to see if it was downloaded properly

Here are they :
http://www.forexfactory.com/showthre...21#post7468321

What was that, GAMBLING ?

No !!!
Read the thread !