Daytrading/scalping with high leverage - my proven strategy

Good morning

I was still planning my trade when I noticed AJ & NJ short as possible best trades before London open and took quick short in both. Stox @ ext OS and waiting for pullback for re-entry

Thanks buddy, I did not know there was a thread for Genesis indicator.........

Today i had a bit less luck :

gilead

Well done - please let us know a bit earlier next time?

Thanks - nice trade!

I can't always post when I am scouting for trades or when I am anticipating something but will give you an idea of how I look for low risk, low stress, high reward, high probability trades. When I say high reward, it does not mean 50 or more pips but if the market gives me that I will take it. I will also take 10, 15, 20 pips etc as they add up. I only need 20 - 25 pips per day of a full lot size to survive, so why stress myself.

See attached AJ chart as example:

 

1. I always want to see a daily pullback from the prior day's (or session) trend back into the 200 MA (which for a short trade is the top of the MA Ribbon)
2. I look for the same retracement in the HTF Stox (in this case the H1)
3. I ignore whatever price is doing until that HTF Stox turn either @ the 50 level or the opposite extreme, as this MAY be my confirmation of a possible trend continuation. From here I start to anticipate my entry point (EP)
4. If price decides to cross above the Ribbon, I will not consider the first break as it may be a head fake. I will wait until a retest and further continuation in the new direction, with support from all the Stox
5. Then I want to see a 1-2-3 PW (price wave) AFTER the pullback as I anticipate my EP, and this is my own clear way of drawing the 1-2-3 PW
6. I will not sell into any S/R level - pivot level or yL or yDOL. I also want to see the low of the last H4 candle broken
7. I have made enough losses trading CT trades to know I am better off avoiding CT trades as there are enough trending pairs to trade each day or the next. I also realize I don't need to trade every day. What I need is to recognize a good structure and pattern early enough and be prepared, and trade that structure very well. It will generate the pips (income) I need for the week and month.
8. For this AJ, I will wait for price to break the yL and S1, and anticipate entry below that level. Set an alarm and do something else, to avoid doing what I should not do
9. After reviewing the 28 major/minor pairs today, I came to one and only conclusion, stay with your system - it works
10. The rest of the picture speaks for itself

Every trader that wants to be successful will and must have the greatest input into his/her own education and success. Look @ past charts, practice and practice. I am not disciplined enough to trade the Babon or Genesis Matrix system, so I built a system for myself that incorporates discipline and patience. I have looked at the charts and discovered we can get enough trending trades for the day to avoid CT trades even when CT moves over 100+ pips. I will leave that to those who have better system to pick CT trades and know how to trade them very well. I don't and my system is not built to pick CT trades but yes once in a while my itchy finger and impatience pushes me to take CT trades but I want structure to that too. But like I said after reviewing the 28 major/minor pairs and coming to one and only conclusion that the system works and it gives low risk, low stress, high reward, high probability trades; I decided to stick with my system and will continue to share the result as time goes on.


Funny enough as I wrote and posted this, it reinforces my thoughts and system, and I am learning too.

I have given these details as I may not be able to post regularly so I can concentrate on my trading but will share the result at the end of each week.

Good trading to all - it is a journey, enjoy it.

Shalom

George

NB
Something very important I forgot to mention is the H4 engulfing candle. Remember the engulfing candle is a sign of strong momentum. Therefore when price pierces the top or bottom of the MA Ribbon and retraces into it, and the position of the HTF Stox lends support to the move, you can anticipate whether or not an H4 engulfing candle is going to develop. Always look at the charts very well and as soon as you begin to see confluences of events happening, you can reasonably anticipate the next course of price action.

Pictures that speak thousand words

Guys,

Which system are you using more these days, Babon, DNA's or Condor666's???
I'm asking because lately nobody is talking about Fav's (Babon)!

How about these charts? All on the same day

919gilead,
thanks for your detailed explanation.
As for me, I always have troubles interpreting HTF Stochs... Their moves nicely seen on past pictures, but kinda confusing when it comes to taking decisions based on their current state.

Could you share your current template, please?

Hi George

Something that may interest you - I keep this chart open on another monitor while looking for opportune place to enter. This way I can watch all tf's interact and see corresponding candle activity. I make profiles for every currency I monitor for trades.

Thanks for your explanations, always informative

@919gilead If you let me do this, i would upload template similar to your, that looks like

Please do

Always a pleasure JSF

So here you are

Hi Icerock,

That is true but remember even though we seem to be trading the M5 TF, we are actually trading a HTF by taking trades off the 200 MA. Therefore the M30 & H1 will not repaint at the end of their respective time period. Try watching some charts and see how long it takes a 1-2-3 PW to fully form, and when you discover it can take between 3 - 5 or more hours, excluding when price finally breaks the PW2 level for your entry, you will see that the M30 & H1 Stox are already locked in and cannot repaint at the time of your entry.

I don't know whether you have also notice something unique about the system and the way I now trade, you will see that price action does not determine the trend for me, and that's a very bold statement to make. I have found a way to combine the MA Ribbon with the Stox to turn lagging indicators into leading indicators. Therefore when price action and the indicators are in agreement, I don't wait for a new HTF Stox as the current state of the Stox is good enough for me. I anticipate what price will do and position myself. This is why this system takes away the stress and you can go wait for price to meet you right @ PW2 instead of chasing price around.

Trust that helps.

Shalom

George

NB
Something very important I forgot to mention is the H4 engulfing candle. Remember the engulfing candle is a sign of strong momentum. Therefore when price pierces the top or bottom of the MA Ribbon and retraces into it, and the position of the HTF Stox lends support to the move, you can anticipate whether or not an H4 engulfing candle is going to develop. Always look at the charts very well and as soon as you begin to see confluences of events happening, you can reasonably anticipate the next course of price action.

This is a one stop shop where you buy a suit and adjust it to your own size, not another person's size. Systems are introduced and you are free to adapt it to your trading and emotional "size."

The Chinese Bamboo Miracle - Life Lessons on Patience and Reward video

Hi Icerock,

This is an example of an EG short trade setting up for a possible Frankfurt/London entry but remember we have important GBP reports coming up 90 minutes after London open

Hi Icerock,

Another live example for you

 

1. There was a possible trade where I drew the circle but I don't trade during that time and wasn't here. I usually want to see the 1st 2 - 3 hours of the Asian session play out before considering any trade;
2. See the 2nd pullback to retest the high of the Asian session
3. Price seem to be resuming the downtrend Will you take a short trade?

The H1 Stox does not support a short trade at this time, and H1 candle will close in another few minutes and H1 Stox will be locked and cannot repaint. So no trade yet.

Unfortunately I have to go now, and will not be around during the London session as I have an appointment in the morning and therefore need to get my proper rest.

Good trading to all

Shalom

919gilead,
good morning and many thanks for illustrative examples and detailed explanations, I appreciate a lot.

Whats the use of m5 and m15 stochs in your system? (I suppose its m5 and m15 stochs painted grey on your template).