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Daytrading/scalping with high leverage - my proven strategy

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  • #7,441
  • Aug 18, 2014 1:56pm Aug 18, 2014 1:56pm
Quoting panamamike
{quote} Actually, Favorite posted his own MM strategy, utilizing two different accounts. Main account risking 3% per trade and a small account at high leverage...i believe it was 5x the maiin account. Max of one trade open at any single point in time.
Hi Mike!
Yes Fav's MM discription was at post #2764. He also mentioned that MM is a very personal thing. So my account MM I am feeling more than comfortable with and which doesn't go beyond common sense is hard stop 15 points=5% of capital.

Have a profitable trading week!
Success is nothing more than a few simple disciplines, practiced every day.
  • #7,442
  • Aug 18, 2014 10:30pm Aug 18, 2014 10:30pm
So far this week has been great! Finally some movement....at least the recent months' inaction is helping me develop patience. FWIW, I am anticipating a return to much wider daily ranges and the highest volatility of the year in Q4. Should be excellent for this system. I have some main pairs, but use 1 screen dedicated to the strongest vs the weakest of the session.

Take care, and green pips to u.
  • #7,443
  • Aug 20, 2014 4:01am Aug 20, 2014 4:01am
Here's why you want to trade the news or avoid it. We see a bullish flag with three dynamite triangles forming. Direction is unclear. Chart says bearish, market sentiment is rather bullish. Thinking bearish CT towards TMA5 until we see slow divergence or momentum slow down.

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  • #7,444
  • Aug 20, 2014 4:04am Aug 20, 2014 4:04am
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Only the price on the chart can show the entrance to the deal...
  • #7,445
  • Aug 23, 2014 8:37am Aug 23, 2014 8:37am
Quoting panamamike
{quote} Actually, Favorite posted his own MM strategy, utilizing two different accounts. Main account risking 3% per trade and a small account at high leverage...i believe it was 5x the maiin account. Max of one trade open at any single point in time.
Quoting Machinator
{quote} Hi Mike! Yes Fav's MM discription was at post #2764. He also mentioned that MM is a very personal thing. So my account MM I am feeling more than comfortable with and which doesn't go beyond common sense is hard stop 15 points=5% of capital. Have a profitable trading week!
Do you guys use this kind of MM ? And are you doing this constantly ?

Regards, pretorian1
Aggressive, High Risk, High Gain, High Accuracy
  • #7,446
  • Aug 23, 2014 9:53am Aug 23, 2014 9:53am
Quoting pretorian1
{quote} {quote} Do you guys use this kind of MM ? And are you doing this constantly ? Regards, pretorian1
at least the last two months ...and during this time only one time I allow the price to touch my hard stop.so the avarage loss in my account is 2-2.5%.Have a nice weekend!)
Success is nothing more than a few simple disciplines, practiced every day.
  • #7,447
  • Aug 26, 2014 6:40am Aug 26, 2014 6:40am
Nope I follow TI's advice. Have either a offensive or defensive tactical setup. Risk is 1% for initial entry. If price goes against you, set up a 2% rescue entry only at a reasonable large pip distance away. Maximum is around 5% for me although suggested amount was 10%. I don't average in a third time as it rarely happens and I'm always watching out for monsters. A offensive setup would be 2% entry and 1% rescue entry if price goes against you.
Know your entry, know when not to enter, know your exit, know when to rescue and know when to let go.
  • #7,448
  • Aug 26, 2014 7:14am Aug 26, 2014 7:14am
Quoting Machinator
{quote} at least the last two months ...and during this time only one time I allow the price to touch my hard stop.so the avarage loss in my account is 2-2.5%.Have a nice weekend!)
Glad to hear that I'm not the only one who use "high risk" MM constantly Because that amount is specified as a "high risk" by most of traders. But i cannot agree with that opinion, because it depends also from accurate strategy ratio, as the Favorite Babon System has a high accuracy, without any doubt. It is one on my 3 "systems" I'm using, and I have two accounts for trading these systems: One is my "main account" when risk is lower and it is not for scalping only, but also for daytrading (sometimes 2 day swing trades), the second is "the 2nd main account", made for high leverage and high risk, with very tight emergency stop loss. Why did i call it "the 2nd main account" not a "small account for high risk" ? Because now it is much bigger than my "first main account"!

Quoting ForexT1000
Nope I follow TI's advice. Have either a offensive or defensive tactical setup. Risk is 1% for initial entry. If price goes against you, set up a 2% rescue entry only at a reasonable large pip distance away. Maximum is around 5% for me although suggested amount was 10%. I don't average in a third time as it rarely happens and I'm always watching out for monsters. A offensive setup would be 2% entry and 1% rescue entry if price goes against you. Know your entry, know when not to enter, know your exit, know when to rescue and know when to let go.
I never average my trades, as these trend following as these ones when price goes against me. I do not feel comfortable with pyramides so I do not use them. I recommend to close the trades fastly with small profit or small loss immediately when they go against me or i saw the opossite signal or some others "signs of weakness".

Regards, pretorian1
Aggressive, High Risk, High Gain, High Accuracy
  • #7,449
  • Aug 27, 2014 12:50am Aug 27, 2014 12:50am
Quoting ForexT1000
Nope I follow TI's advice. Have either a offensive or defensive tactical setup. Risk is 1% for initial entry. If price goes against you, set up a 2% rescue entry only at a reasonable large pip distance away. Maximum is around 5% for me although suggested amount was 10%. I don't average in a third time as it rarely happens and I'm always watching out for monsters. A offensive setup would be 2% entry and 1% rescue entry if price goes against you. Know your entry, know when not to enter, know your exit, know when to rescue and know when to let go.
If you want to develop this approach I hope this video https://www.youtube.com/watch?v=FyAeujRwLxM will be useful for you. And ,please ,keep in touch with your results.

All the Best!
Success is nothing more than a few simple disciplines, practiced every day.
  • #7,450
  • Aug 27, 2014 12:59am Aug 27, 2014 12:59am
Quoting pretorian1
{quote} Glad to hear that I'm not the only one who use "high risk" MM constantly Because that amount is specified as a "high risk" by most of traders. But i cannot agree with that opinion, because it depends also from accurate strategy ratio, as the Favorite Babon System has a high accuracy, without any doubt. It is one on my 3 "systems" I'm using, and I have two accounts for trading these systems: One is my "main account" when risk is lower and it is not for scalping only, but also for daytrading (sometimes 2 day swing trades), the second...
Glad to hear about your achievements!!!Keep them up and wishing you enormous further progress!

Best regards,
David.
Success is nothing more than a few simple disciplines, practiced every day.
  • #7,451
  • Edited 12:36pm Aug 31, 2014 12:19pm | Edited 12:36pm
Hi guys i Have a question regards Babon trading system
i downloaded the templates and TMA indicator but when i load the template i can not see the indicator
simply put the TMA indicator is not working

i tried to look in indicator folder in meta trader 4
TMA.mq4 is there but there is no TMA.ex4
i tried to download TMA.ex4 but the thing that i downloaded has only two variable in input periods and apply to i want to know how can i make the M5 / M1 / H1 / H4 indicators in the way favorite mentioned in his system

if i wanted to put it simply can any of you guys get the TMA.ex4 file from your computer and upload it here for me please?

thanks
  • #7,452
  • Aug 31, 2014 5:03pm Aug 31, 2014 5:03pm
Quoting kamyar.73
Hi guys i Have a question regards Babon trading system i downloaded the templates and TMA indicator but when i load the template i can not see the indicator simply put the TMA indicator is not working i tried to look in indicator folder in meta trader 4 TMA.mq4 is there but there is no TMA.ex4 i tried to download TMA.ex4 but the thing that i downloaded has only two variable in input periods and apply to i want to know how can i make the M5 / M1 / H1 / H4 indicators in the way favorite mentioned in his system if i wanted to put it simply can any...
Here you are
Attached File(s)
File Type: ex4 TMA.ex4   10 KB | 377 downloads
Aggressive, High Risk, High Gain, High Accuracy
  • #7,453
  • Sep 1, 2014 3:46am Sep 1, 2014 3:46am
Quoting pretorian1
{quote} Here you are {file}
Thanks ^_^
  • #7,454
  • Sep 1, 2014 8:33am Sep 1, 2014 8:33am
do any of you guys know where can i download ytc book on price action for free
i can't find it

thanks
  • #7,455
  • Edited Jun 23, 2015 12:01am Sep 2, 2014 4:30am | Edited Jun 23, 2015 12:01am
Quoting kamyar.73
do any of you guys know where can i download ytc book on price action for free i can't find it thanks
Here they are...Enjoy!)
Success is nothing more than a few simple disciplines, practiced every day.
  • #7,456
  • Sep 2, 2014 5:57am Sep 2, 2014 5:57am
thanks ^_^

guys i have a question
what wrong with my entry? (entry is the last candle)
i thought i did every thing right but it was not the case
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  • #7,457
  • Sep 2, 2014 6:25am Sep 2, 2014 6:25am
Quoting kamyar.73
what wrong with my entry? (entry is the last candle) i thought i did every thing right but it was not the case

From my "Summary":

"When TMA H1 goes beyond TMA H4 it usually starts a very unpleasant time."

As you can see, AT THIS TIME you shouldn't trade EURJPY at all!

Guys, I repeated again and again: Babon is a two-step system, both steps are very important! Guys, pay attention, will you?! We start with H1! And if H1 doesn't allow to trade - we don't trade, just that simple!

That's why right now I'm trying to create a new system (the name is "Predator"), for trading M1 without looking at H1.
Attached Image
Gentlemen always play by the rules. If they can't, they change the rules.
  • #7,458
  • Sep 2, 2014 6:46am Sep 2, 2014 6:46am
favorite
Thank you so much for the fast and good answer

you are right i forgot to check the h1!
actually i checked it at first when i started trading today and at that time it was okay
but now that i think about it, it was nearly 10 hours ago

looking forward to your new system
  • #7,459
  • Sep 2, 2014 7:18am Sep 2, 2014 7:18am
Quoting Machinator
{quote} Here they are...Enjoy!) {image} {image} {image} {image} {image} {image} {image} {image} {image}
I cannot open a vol 2 and vol 3 because of it seems to be crashed

Quoting Favorite
That's why right now I'm trying to create a new system (the name is "Predator"), for trading M1 without looking at H1.
May I ask you Fav, WHY do you want to create a system for M1 charts only ? Looking on 2 charts is not that horrible as it seems to be, and it always gives a wider picture of market I have one system that I'm using (testing) on M1 only without looking for higher TF's, but I always feel more comfortable when i have a bigger charts to look on

Regards, pretorian1
Aggressive, High Risk, High Gain, High Accuracy
  • #7,460
  • Sep 2, 2014 7:24am Sep 2, 2014 7:24am
Quoting kamyar.73
favorite Thank you so much for the fast and good answer you are right i forgot to check the h1! actually i checked it at first when i started trading today and at that time it was okay but now that i think about it, it was nearly 10 hours ago


Yes, that's why my M1 Entry Rules contain this:


"g). Then we double-check H1."



Quoting kamyar.73
looking forward to your new system


About this new system. It is still a work in progress, it will take many months to finish it. Right now four Russian traders are forward-testing "Predator-17", and "17" means that it is a 17-th version... I want to create an almost perfect system, simple, reliable and profitable, so it is possible the final version will be "Predator-25" or even "Predator-35".
Gentlemen always play by the rules. If they can't, they change the rules.
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