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Daytrading/scalping with high leverage - my proven strategy

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  • #7,481
  • Sep 5, 2014 8:08am Sep 5, 2014 8:08am
Oops, got my prediction wrong. Oh well, EUR/USD is known for flatting during big down moves.
  • #7,482
  • Sep 7, 2014 12:38am Sep 7, 2014 12:38am
Would be interested in peoples' results with this method. Typically, win/loss ratio and how many pips you make a week with it. I am going to start trading it and so we can compare results.
Forex rules
  • #7,483
  • Sep 11, 2014 3:13am Sep 11, 2014 3:13am
To the kind attention of Favorite

With reference to this post http://www.forexfactory.com/showthre...18#post5412518 which you mentioned on DNA's thread a while ago, I thought I understood and even praised it at a first glance, but on a second thought I have realised that maybe I'm missing something.
I will extend your same example to show my point: we buy at 1.3260, price moves against us and we sell at 1.3240. So we have locked -20 pips. Now price moves down to 1.3230 and we get a clear buy signal. We close the short with +10 pips but the original buy is now at -30, so we are still at -20 overall. Now we aim to get the original -20 pips with this new trade. Price moves up to 1.3250 and we are out. Final result is 0 (pipwise).
Now let's describe the normal scenario: we buy at 1.3260, price moves against us and we exit on a -20 pip stop loss and a clear mind to wait for a new good buy/sell signal. Next we get get a clear buy signal, we enter and make 20 pips. Final result is still 0. The difference is that with the locking strategy we pay the spread (or commissions) on 3 trades while with the normal strategy we pay on 2 trades.
Can you please explain the actual advantage of using the locking strategy versus a normal stop loss? Thank you very much.
  • #7,484
  • Edited 6:35am Sep 11, 2014 6:19am | Edited 6:35am
Quoting Hammertop
To the kind attention of Favorite With reference to this post http://www.forexfactory.com/showthre...18#post5412518 which you mentioned on DNA's thread a while ago, I thought I understood and even praised it at a first glance, but on a second thought I have realised that maybe I'm missing something. I will extend your same example to show my point: we buy at 1.3260, price moves against us and we sell at 1.3240. So we have locked -20 pips. Now price moves down to 1.3230 and we get a clear buy signal. We close the short with...

First of all, why do you say "Price moves up to 1.3250 and we are out. Final result is 0 (pipwise)."? I explained very clear that we have to wait for "the next very good and very clear signal to buy", and obviously such a signal would bring much more than those original 20 pips, so we'll be in profit.

Secondly, when you lose - YOU LOSE, just that simple! And when you lose, you must have to have a VERY strong personality not to try to get your money back at the first available signal. And this first available signal will never be as good as the signal that you can wait for when you lock the price - I guarantee it! So you start throwing your good money after bad money, and we all know how that ends.

P.S. We were discussing a very old post from the Al's thread, then I was talking about 20 pips lock. I hope you all remember that for the Babon system I recommend 12-15 pips, depending on the currency.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #7,485
  • Sep 11, 2014 5:14pm Sep 11, 2014 5:14pm
Quoting Favorite
{quote} First of all, why do you say "Price moves up to 1.3250 and we are out. Final result is 0 (pipwise)."? I explained very clear that we have to wait for "the next very good and very clear signal to buy", and obviously such a signal would bring much more than those original 20 pips, so we'll be in profit. Secondly, when you lose - YOU LOSE, just that simple! And when you lose, you must have to have a VERY strong personality not to try to get your money back at the first available signal. And this first available signal will never be as good...
May i ask what is the point of "locking" instead of using stop loss ? As you said "when you lose - YOU LOSE" and that's the fact. And when you use "locking" you lose MORE, because you have to pay ADDITIONAL spread, commision and also - if you keep it opened more than 1 day - also SWAP points from 2 positions (often both are negative). I think it can only be used to "improve" your stats on statement. Do you use locking on your daytrading ?

Regards, pretorian1
Aggressive, High Risk, High Gain, High Accuracy
  • #7,486
  • Sep 11, 2014 11:25pm Sep 11, 2014 11:25pm
Quoting pretorian1
{quote} May i ask what is the point of "locking" instead of using stop loss ? As you said "when you lose - YOU LOSE" and that's the fact. And when you use "locking" you lose MORE, because you have to pay ADDITIONAL spread, commision and also - if you keep it opened more than 1 day - also SWAP points from 2 positions (often both are negative). I think it can only be used to "improve" your stats on statement. Do you use locking on your daytrading ? Regards, pretorian1

Yes, I use locking instead of stop-losses day in and day out. I already said everything I could say on the subject in the previous post. You lose ONLY when you close your losing trade and your balance loses this amount. When you lock and do it the right way, you can't "lose MORE" because you don't lose at all. SWAP doesn't matter because my locks initialize very rarely (they are the emergency locks), and SWAP happens VERY-VERY rarely (I don't even remember when I kept lock for such a long time).

All you said is fine and dandy until you see, for example, something like this: your stop got hit, the price goes further 2-3-5 pips and then goes in the opposite (your) direction. And it is just one of the many possibilities, any trader can give much more examples...
Gentlemen always play by the rules. If they can't, they change the rules.
  • #7,487
  • Sep 12, 2014 2:50am Sep 12, 2014 2:50am
Thanks for your reply, Favorite. I I understand now that it's more about psychology than real maths. And it's all up to the trader to solve the dilemma LOL. Clarifying though.
  • #7,488
  • Sep 12, 2014 8:20am Sep 12, 2014 8:20am
Quoting Hammertop
Thanks for your reply, Favorite. I I understand now that it's more about psychology than real maths. And it's all up to the trader to solve the dilemma LOL. Clarifying though.

Of course! FOREX is all about psychology!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #7,489
  • Sep 13, 2014 4:19pm Sep 13, 2014 4:19pm
Quoting Favorite
{quote} Yes, I use locking instead of stop-losses day in and day out. I already said everything I could say on the subject in the previous post. You lose ONLY when you close your losing trade and your balance loses this amount. When you lock and do it the right way, you can't "lose MORE" because you don't lose at all. SWAP doesn't matter because my locks initialize very rarely (they are the emergency locks), and SWAP happens VERY-VERY rarely (I don't even remember when I kept lock for such a long time). All you said is fine and dandy until you see,...
How do you lock "the right way"?
Forex rules
  • #7,490
  • Sep 14, 2014 1:13am Sep 14, 2014 1:13am
Quoting dsb104
{quote} How do you lock "the right way"?
I explained it in details in the Al's thread's post.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #7,491
  • Sep 19, 2014 6:22pm Sep 19, 2014 6:22pm
My Beginning on a real account , my Trades for the last 2 days , Thanks Fav
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  • #7,492
  • Sep 20, 2014 12:17am Sep 20, 2014 12:17am
Quoting ladharimoham
My Beginning on a real account , my Trades for the last 2 days , Thanks Fav {image}

And thank you, ladharimoham, thank you for posting your results! I'm very glad that you like Babon and Babon likes you too! I hope that with God's help I'll make my next system ("Predator") even better than Babon!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #7,493
  • Sep 20, 2014 1:07am Sep 20, 2014 1:07am
Quoting Favorite
{quote} And thank you, ladharimoham, thank you for posting your results! I'm very glad that you like Babon and Babon likes you too! I hope that with God's help I'll make my next system ("Predator") even better than Babon!
Wow... a new system? Even better than Babon? And I thought that was good already, but since you announced it, I hope you'll share with us poor mortals. LOL
I can't wait to see it. Thanks from now.
  • #7,494
  • Sep 20, 2014 7:58am Sep 20, 2014 7:58am
Quoting Hammertop
{quote} Wow... a new system? Even better than Babon? And I thought that was good already, but since you announced it, I hope you'll share with us poor mortals. LOL I can't wait to see it. Thanks from now.
Thank you, Hammertop! It will take a very long time to finish my "Predator", maybe another 5-6 months, but it's worth it! I will publish it here, in this thread.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #7,495
  • Sep 24, 2014 3:43am Sep 24, 2014 3:43am
Thank you very much Favorite!!!
  • #7,496
  • Sep 24, 2014 9:00am Sep 24, 2014 9:00am
Quoting Favorite
{quote} Thank you, Hammertop! It will take a very long time to finish my "Predator", maybe another 5-6 months, but it's worth it! I will publish it here, in this thread.
We'll be here. No hurry. Thanks
  • #7,497
  • Sep 25, 2014 6:55am Sep 25, 2014 6:55am
Quoting Favorite
{quote} And thank you, ladharimoham, thank you for posting your results! I'm very glad that you like Babon and Babon likes you too! I hope that with God's help I'll make my next system ("Predator") even better than Babon!
"A good golfer has the determination to win and the patience to wait for the breaks"
  • #7,498
  • Sep 25, 2014 8:33am Sep 25, 2014 8:33am
Thank you, guys!

Right now I have more than 10 Russian traders who work with me testing and improving "Predator". Yes, we're gonna make it! We'll be there!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #7,499
  • Sep 28, 2014 2:12pm Sep 28, 2014 2:12pm
Quoting Favorite
Thank you, guys! Right now I have more than 10 Russian traders who work with me testing and improving "Predator". Yes, we're gonna make it! We'll be there!
Will Predator use indicators other than price bars?
If you are good at something, never do it for free--Joker
  • #7,500
  • Sep 28, 2014 10:39pm Sep 28, 2014 10:39pm
Quoting jmn5611
Will Predator use indicators other than price bars?
Predator is a PA-based system, however there will be some PA-based indicators to make the system more "visual".
Gentlemen always play by the rules. If they can't, they change the rules.
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