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A Ridiculous Scalp

  • #21
  • May 31, 2014 12:17am May 31, 2014 12:17am
Quoting spacePip
Nice result, but you must be trading a dangerously high leveraged position, because if a 3 pips win is gaining u 14.88%, then I'm guessing a 15-20 pip move against the position (draw down) will lead to a margin call? It looks like you may have come close to that today.
Hi spacePip, you are 100% correct, hence the name "A Ridiculous Scalp". The draw down on my account today was about 50% so yes, the risk is extremely high and you need high leverage to trade the volume I do. However, you can lower the risk by decreasing the lot size and implementing a stop loss. Then again the risk/reward would be ridiculous as your SL will be 5 or 6 times your TP. Also trading half the lot size I do I can accommodate a 35 - 40 pip draw down, which I might consider if my account grows bigger.

At the end of the day you have to invest money you can afford to lose, so start small, trade big and have some fun!
-------------------------------------------------
Website: http://www.fxinvestfund.com
Skype: fxinvestfund03
Trade Safe!
  • #22
  • May 31, 2014 3:19am May 31, 2014 3:19am
Quoting fxinvestfund
Another successful scalp for 3 pips. Tomorrow's setup to follow towards the end of day. http://www.myfxbook.com/members/fxin...s-scalp/930229 {image}
I've added on my watchlist, I wish you all the best!

Regards
PROredart
PROredart is not PRO trader
  • #23
  • May 31, 2014 3:32am May 31, 2014 3:32am
Quoting PROredart
{quote} I've added on my watchlist, I wish you all the best! Regards PROredart
Thanks man!
Trade Safe!
  • #24
  • May 31, 2014 8:32am May 31, 2014 8:32am
All the best for your hunt, Hunter. What is the spreads at xauusd in hot forex micro acc?
  • #25
  • May 31, 2014 9:16am May 31, 2014 9:16am
Quoting scalper.exp
All the best for your hunt, Hunter. What is the spreads at xauusd in hot forex micro acc?
And hunting I shall hunt

I'll let you know what the spread is during the day on Monday when markets are active.
------------------------------------ -------------
Website: http://www.fxinvestfund.com
Skype: fxinvestfund03
Trade Safe!
  • #26
  • Jun 2, 2014 3:08am Jun 2, 2014 3:08am
Another great day and another great scalp + 3 pips!

4 More days to go!
------------------------------------ -------------
Website: http://www.fxinvestfund.com
Skype: fxinvestfund03
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-h1-hf-markets-ltd.png Size: 41 KB
Trade Safe!
  • #27
  • Jun 2, 2014 10:00am Jun 2, 2014 10:00am
  •  Neio
  • Joined Oct 2012 | Status: Can't think outside?Enlarge the box | 688 Posts
Quoting fxinvestfund
Another great day and another great scalp + 3 pips! 4 More days to go! ------------------------------------ ------------- Website: http://www.fxinvestfund.com Skype: fxinvestfund03 {image}
Very impressive.

Without giving away your strategy is there any reason why early on you had two orders set but now you seem to be just using one?

Regards

Neio
An expert is a man who has made all the mistakes which can be made
  • #28
  • Jun 2, 2014 12:09pm Jun 2, 2014 12:09pm
Quoting Neio
{quote} Very impressive. Without giving away your strategy is there any reason why early on you had two orders set but now you seem to be just using one? Regards Neio
Thanks, but if I tell you that then I give away my strategy.....
Trade Safe!
  • #29
  • Jun 3, 2014 5:18am Jun 3, 2014 5:18am
  •  Neio
  • Joined Oct 2012 | Status: Can't think outside?Enlarge the box | 688 Posts
Thought that may be too intrusive!

Did you place a trade today?
An expert is a man who has made all the mistakes which can be made
  • #30
  • Jun 3, 2014 6:22am Jun 3, 2014 6:22am
Quoting Neio
Thought that may be too intrusive! Did you place a trade today?
Yes, result to follow
Trade Safe!
  • #31
  • Edited 6:48am Jun 3, 2014 6:26am | Edited 6:48am
Today's trade look quite simple and straight forward, but at some stage I was down 60%. I'm seriously considering to adopt my lot size to accommodate a 20 pip SL........ will give that some thought during the day.

For now I'll take the 3 pips!
------------------------------------ -------------
Website: http://www.fxinvestfund.com/forex.html
Skype: fxinvestfund03
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-h1-hf-markets-ltd.png Size: 41 KB
Trade Safe!
  • #32
  • Jun 3, 2014 10:35pm Jun 3, 2014 10:35pm
After thinking about it I've decided to decrease my lot size by 50% and implement a 20 pip SL. This would mean my growth will be less by 50%, but now if I hit the 20 pip SL I only loose 50% of my account and need only 1 week to recover. At the pace I'm going now if I hit a 20 pip draw down my whole account is blown. It just makes more sense........... still ridiculous though.
------------------------------------ -------------
Website: http://www.fxinvestfund.com/forex.html
Skype: fxinvestfund03
Trade Safe!
  • #33
  • Jun 3, 2014 11:11pm Jun 3, 2014 11:11pm
  •  Neio
  • Joined Oct 2012 | Status: Can't think outside?Enlarge the box | 688 Posts
Quoting fxinvestfund
After thinking about it I've decided to decrease my lot size by 50% and implement a 20 pip SL. This would mean my growth will be less by 50%, but now if I hit the 20 pip SL I only loose 50% of my account and need only 1 week to recover. At the pace I'm going now if I hit a 20 pip draw down my whole account is blown. It just makes more sense........... still ridiculous though. ------------------------------------ ------------- Website: http://www.fxinvestfund.com/forex.html Skype: fxinvestfund03
I think this is a very sensible move...may need to rename the thread! Although that kind of MM most people would see as ridiculous. With your current hit rate I reckon you have a good chance of making that small deposit into a big number!
An expert is a man who has made all the mistakes which can be made
  • #34
  • Jun 4, 2014 11:21am Jun 4, 2014 11:21am
Got my 3 pips on the short order and cancelled my long order when the other one was triggered. I suppose you can leave both orders, but I like to cancel the other one. Account growth will now be less than when I started, because I'm trading half the lot size ratio I used to in order to accommodate a 20 pip SL for just in case....
------------------------------------ -------------
Website: http://www.fxinvestfund.com/forex.html
Skype: fxinvestfund03

http://widgets.myfxbook.com/widgets/930229/mini.jpg
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-h1-hf-markets-ltd-2.png Size: 43 KB
Trade Safe!
  • #35
  • Jun 5, 2014 1:51pm Jun 5, 2014 1:51pm
Well, it was bound to happen sometime - hit my 20 pip SL today when the EURUSD made that ridiculous spike...... anyway, just glad I decreased my lot size, because now I have an opportunity to recover.
------------------------------------ -------------
Website: http://www.fxinvestfund.com/forex.html
Skype: fxinvestfund03

http://widgets.myfxbook.com/widgets/930229/mini.jpg
Trade Safe!
  • #36
  • Jun 5, 2014 3:14pm Jun 5, 2014 3:14pm
Subscribed
  • #37
  • Jun 6, 2014 2:22pm Jun 6, 2014 2:22pm
No trade today - will continue on Monday

Have a good weekend!
------------------------------------ -------------
Website: http://www.fxinvestfund.com/forex.html
Skype: fxinvestfund03

http://widgets.myfxbook.com/widgets/930229/mini.jpg
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-h1-hf-markets-ltd-2.png Size: 31 KB
Trade Safe!
  • #38
  • Jun 6, 2014 2:42pm Jun 6, 2014 2:42pm
Quoting fxinvestfund
Here is my setup for tomorrow. Anybody want to guess how I get to these levels? {image}
Because they are near BRNs?
  • #39
  • Jun 6, 2014 2:51pm Jun 6, 2014 2:51pm
Quoting AVLtrader
{quote} Because they are near BRNs?
I can see why you would think that, because of today's post, but it's actually not. The only reason why it looks like it today is I try to avoid trading within 10 pips of BRN's.
Trade Safe!
  • #40
  • Jun 6, 2014 4:16pm Jun 6, 2014 4:16pm
So I have decided to share my strategy. No point really to keep it a mystery. I'll upload the video over the weekend and post the link here.
Trade Safe!
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