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Daytrading/scalping with high leverage - my proven strategy

  • Linked: 1 Lot - 1.000 $ | Brokerage Account XXX82
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  • #7,521
  • Oct 2, 2014 1:09am Oct 2, 2014 1:09am
I saw this trade developing but stood on the sidelines as I'm just getting back to trading again. My previous attempt was death by a thousand cuts sort of thing and I would up one minute and then lose even more. Hopefully I can be more consistent with my trading. Let the journey begin again. Nice Pinbar setup on the hourly was the reason for entry with this trade. Would have been a +20 pips if I had taken the trade
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Island hopping throughout the Caribbean
  • #7,522
  • Oct 2, 2014 2:46am Oct 2, 2014 2:46am
FWIW....i have found Asia has been very good trading since early September.
  • #7,523
  • Oct 2, 2014 4:34am Oct 2, 2014 4:34am
Missed this nice naked breakout for +35. Not sure how I would approach these patterns
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Island hopping throughout the Caribbean
  • #7,524
  • Oct 2, 2014 4:51am Oct 2, 2014 4:51am
Really nice price action setup after TMA M! beyond TMA M5. really nice LL- HH -HL -HH setup. 8-10 depending on entry.
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Island hopping throughout the Caribbean
  • #7,525
  • Edited 11:27am Oct 2, 2014 10:22am | Edited 11:27am
Quoting Machinator
{quote} Thanks Michael!Glad to know your name. As one of Russian fiction hero said'' I am the ideological fighter for currency notes...''. The naked truth about me and I think for every person who want to be successful in this business. Regards, David.
Quoting Favorite
{quote} Yes, and it was MY fictional hero, MY Ostap Bender, the guy on MY picture! http://en.wikipedia.org/wiki/Ostap_Bender Just look at him! All his appearance says: "Я не налетчик, а идейный борец за денежные знаки!" (I'm not a robber, I'm the ideological fighter for the banknotes!) {image}
Although I'm not russian, i have read 2 books about him and even watched one movie "Great Combinator" is the right word to describe him

Quoting dumplin_eater
Really nice price action setup after TMA M! beyond TMA M5. really nice LL- HH -HL -HH setup. 8-10 depending on entry. {image}
I hope you scored some green pips with the occasions!

Regards, Michael
Aggressive, High Risk, High Gain, High Accuracy
  • #7,526
  • Oct 2, 2014 4:40pm Oct 2, 2014 4:40pm
Has anyone of you Babon traders, tried to use Babon system at night* (*I mean from Australia open till Frankfurt open) and doing this regularly ?

Regards, Michael
Aggressive, High Risk, High Gain, High Accuracy
  • #7,527
  • Oct 3, 2014 1:49am Oct 3, 2014 1:49am
Combining the power of the Babon with LCSM.

I have been noticing strong pullbacks after TMA MA goes beyond TMA M5, so I decided to check the manual and there it was in black & white So I dropped to my LCSM to start watching for change of power between GBP & JPY and as soon as both begin to turn from extreme OB & OS levels, I pulled the trigger without any hesitation and it was good for 8+ pips like Mikhail said in the manual Closed @ 175.767 and price now @ 175.619 but I'm happy with what the market gave me. Mikhail warned that we should remember it is a pullback and the trend can resume without notice.

I'm off for a snooze and will be back for the NFP report.

Shalom
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Low Risk Low Stress High Reward High Probability Trades
  • #7,528
  • Oct 3, 2014 3:02am Oct 3, 2014 3:02am
Have been planning for today no trade just update trading plan ,listen to a music or watch a movie but M1 PA on EJ was so great that could not resist and succumbed to temptation open a short and then add to it .So almost 35 pips in profit closed at TMA15 137,438. So now with peace of mind ready for enjoy the weekend.
It was indeed tremendous trading week!

Have a nice weekend guys!Take care and don't drink too much monday is close !

David.
Success is nothing more than a few simple disciplines, practiced every day.
  • #7,529
  • Oct 3, 2014 8:31am Oct 3, 2014 8:31am
Quoting Machinator
Have been planning for today no trade just update trading plan ,listen to a music or watch a movie but M1 PA on EJ was so great that could not resist and succumbed to temptation open a short and then add to it .So almost 35 pips in profit closed at TMA15 137,438. So now with peace of mind ready for enjoy the weekend. It was indeed tremendous trading week! Have a nice weekend guys!Take care and don't drink too much monday is close ! David.

Good one David

Shalom and a good week end.
Low Risk Low Stress High Reward High Probability Trades
  • #7,530
  • Oct 3, 2014 8:34am Oct 3, 2014 8:34am
Another TMA M1 beyond TMA M5 pullback in combination with the LCSM for 12+ pips

Good week end to all, and see you next week.

Shalom and God bless

George
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Low Risk Low Stress High Reward High Probability Trades
  • #7,531
  • Oct 3, 2014 8:50am Oct 3, 2014 8:50am
Quoting 919gilead
Another TMA M1 beyond TMA M5 pullback in combination with the LCSM for 12+ pips Good week end to all, and see you next week. Shalom and God bless George {image}
Hello George,
interesting idea you've made with combining LCSM and Babon to trading pullbacks. Do you wait for a TMA M1 beyond TMA M5 and M15 and then you look on LCSM M1 for a reverse ? What levels do you mean by OB/OS ? (value of LCSM)
Personally i trade pullback sometimes, and when i do, i want it to be in agreement with H1 or H4 momentum from big picture.

Regards, Michael
Aggressive, High Risk, High Gain, High Accuracy
  • #7,532
  • Edited 9:30pm Oct 4, 2014 3:43am | Edited 9:30pm
Quoting pretorian1
{quote} Hello George, interesting idea you've made with combining LCSM and Babon to trading pullbacks. Do you wait for a TMA M1 beyond TMA M5 and M15 and then you look on LCSM M1 for a reverse ? What levels do you mean by OB/OS ? (value of LCSM) Personally i trade pullback sometimes, and when i do, i want it to be in agreement with H1 or H4 momentum from big picture. Regards, Michael

Trading requires a lot of discretion as rules are not cast in stone. I took the 2 trades based on different reasoning but one thing was constant, TMA M1 was beyond TMA M5, therefore I was expecting a pullback:

I took the trade in post 7527 because just like the TMA M1 going beyond the TMA M5, I noticed that the GBP & JPY lines have crossed the 0.8/-0.8 level (on M1 TF), which was what I referred to as OB/OS level. I then notice 1st the JPY changed course and came back below the -0.8 while the GBP line bent a bit approaching the 0.8 line. I entered the trade as soon as the JPY line crossed above the -0.4 line and the GBP touched the 0.8. This was why it seem as if I picked the top of price action.

In post 7230 however, the lines of the currencies were flat around the zero line on the M1 TF but the M5 TF showed JPY as very strong while GBP was very weak. I therefore waited for the upper (red) line of TMA M1 to cross below the TMA M5 at the DPV level, and you realize that the lower (green) line was already below the cloud. You will also observe LH and LL as possible confirmation for the trade. I took profit when price touched both the lower line of TMA M5 and the DOL (daily open line). So you can see a bit of discretion here as I combined both LCSM and Babon.

I actually trade the H1/H4 trend and enter on the M5 TF but also have the M1 TF opened on a 3rd screen. I have been noticing that every time M1 crossed the M5 TMA, it was a matter of time before price pulls back but somehow my brain did not process it and I ignored the observation. Somehow today, I decided to check Favorite's manual whether he observed and mentioned the same thing in his book, and on seeing the confirmation in his book it just gave me the confidence that my observation was correction and with the LCSM as additional confluence, I pulled the trigger.

Take care Michael, and enjoy your week end.

Shalom
Low Risk Low Stress High Reward High Probability Trades
  • #7,533
  • Oct 5, 2014 4:33pm Oct 5, 2014 4:33pm
Hi everyone

Congrats and thank you Favorite, DNA and all others for sharing. Respect.
After 3 days reading and studing this thread, i'm trying to use it but TMA indicator is loaded but not usable in the indicator list or presented in the template.
TMA indicator just dont get attached to the chart... can anyone sugest a solution? thank you a lot.

all the best,
  • #7,534
  • Oct 5, 2014 5:26pm Oct 5, 2014 5:26pm
Quoting 919gilead
{quote} Trading requires a lot of discretion as rules are not cast in stone. I took the 2 trades based on different reasoning but one thing was constant, TMA M1 was beyond TMA M5, therefore I was expecting a pullback: I took the trade in post 7527 because just like the TMA M1 going beyond the TMA M5, I noticed that the GBP & JPY lines have crossed the 0.8/-0.8 level (on M1 TF), which was what I referred to as OB/OS level. I then notice 1st the JPY changed course and came back below the -0.8 while the GBP line bent a bit approaching the 0.8 line....
We both agreed that we never trade "strict rules" but "methodology" Thank you for share with me and rest of Babon folks your idea! Interesting view which i will give a try. I really like your creativity in your trading style and that you never stop learning.

New week - new possibilities. Many green pips for you and everyone in the next market challanges we will take part in

Keep posting as I always read your posts with plesure

Quoting pzr
Hi everyone Congrats and thank you Favorite, DNA and all others for sharing. Respect. After 3 days reading and studing this thread, i'm trying to use it but TMA indicator is loaded but not usable in the indicator list or presented in the template. TMA indicator just dont get attached to the chart... can anyone sugest a solution? thank you a lot. all the best,
Try to open a data folder and then paste there a TMA file in a correct indicator folder (on my picture it is in my language but you will find it easily)

Regards, Michael
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Aggressive, High Risk, High Gain, High Accuracy
  • #7,535
  • Edited 7:49am Oct 6, 2014 5:19am | Edited 7:49am
pretorian1 Solved by your post #7,452 thank you so much
  • #7,536
  • Oct 6, 2014 8:00am Oct 6, 2014 8:00am
Quoting pzr
pretorian1 Solved by your post #7,452 thank you so much
Glad you've solved the issue Now enjoy your trading and wish you many green pips!

Regards, Michael
Aggressive, High Risk, High Gain, High Accuracy
  • #7,537
  • Oct 6, 2014 9:25am Oct 6, 2014 9:25am
2 potential TMA M1 beyond TMA M5. I missed the short which I was watching like a hawk and just waiting for the upper TMA M1 line to cross below the TMA M5 when I received an international call. By the time I dropped the call and looked @ my chart, it was too late.

Good trading to all

Shalom
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  • #7,538
  • Oct 6, 2014 12:02pm Oct 6, 2014 12:02pm
Late but good one
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  • #7,539
  • Oct 7, 2014 3:43am Oct 7, 2014 3:43am
My first trade of the day, started a bit late so I took the first 10 pips on offer. Could have held on for 5 more pips as it had formed an m1 beyond the cloud formation but it was my first trade so just wanted to start with some positive pips.
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Island hopping throughout the Caribbean
  • #7,540
  • Oct 8, 2014 1:50am Oct 8, 2014 1:50am
Quoting dumplin_eater
My first trade of the day, started a bit late so I took the first 10 pips on offer. Could have held on for 5 more pips as it had formed an m1 beyond the cloud formation but it was my first trade so just wanted to start with some positive pips. {image}
Good trade DE You never know what a 2 pip here, 5 pip there and a 10 pip thereafter can do to an account. I have posted a 50% return from October 1st trading this way. Keep it up.

Shalom
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