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Daytrading/scalping with high leverage - my proven strategy

  • Linked: 1 Lot - 1.000 $ | Brokerage Account XXX82
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  • #7,561
  • Oct 11, 2014 8:20am Oct 11, 2014 8:20am
Quoting 919gilead
{quote} {quote} I thought I'll share one key thing about my trading strategy which is to take whatever the market gives me. I said this in post 84 as highlighted above, in the Currency Index Trading thread on Sept 2 and repeated the same thing on this thread in post 7540 about a month after, on October 7. I am not a great trader and there is nothing special or great about my trading result. I...
Great post Goerge and something I took on board yesterday when I got back from work , like yourself , i have to fit round a fulltime job too!!

Here's what happened on my demo account trying out your grab what you can and run philosophy without worrying about what I left on the table. Thats been my nemesis up to now, never knowing when to bank and always believing there was more to come... I was more worried about what I might miss out on than losing!!! Mad or what.

Anyway here's how it went Friday, had a couple of losers at the start until I got use to it then it was fine. Bagged about 25% in the end....

Attached Image (click to enlarge)
Click to Enlarge Name: scalping results Friday afternoon.PNG Size: 76 KB


Won't distract from the system here but if you're interested in how I did it have a look at my thread where I've posted in more detail.

Must have that chat soon George before you're too rich to bother with us poor folk...
Feel the Fear and do it anyway!!!
  • #7,562
  • Oct 11, 2014 4:53pm Oct 11, 2014 4:53pm
Quoting 919gilead
{quote} {quote} I thought I'll share one key thing about my trading strategy which is to take whatever the market gives me. I said this in post 84 as highlighted above, in the Currency Index Trading thread on Sept 2 and repeated the same thing on this thread in post 7540 about a month after, on October 7. I am not a great trader and there is nothing special or great about my trading result. I...
Quoting srt
{quote}
Low Risk Low Stress High Reward High Probability Trades
  • #7,563
  • Oct 11, 2014 5:00pm Oct 11, 2014 5:00pm
Quoting 919gilead
{quote} {quote} I thought I'll share one key thing about my trading strategy which is to take whatever the market gives me. I said this in post 84 as highlighted above, in the Currency Index Trading thread on Sept 2 and repeated the same thing on this thread in post 7540 about a month after, on October 7. I am not a great trader and there is nothing special or great about my trading result. I...

Quoting Machinator
{quote} Hey George!) just nothing to be surprised, it is not even arguable as it is a fact, that with the same philosophy in action ''two pips here ,five to six pips there'' during a time people with the same nationality as you are,make the world's bank system their own)) Take care and Shalom to all of us!

Hey David,

I am not exactly what you think. I am black as black can be I relocated to Canada from Nigeria (a great country in West Africa) about 14 years ago and enjoying it here But I am a Jew spiritually and greatly inspired by the holy Bible.

And yes, you're right, a little here and little there, is a good philosophy to build a fortune and thanks always for your encouragement and confidence.

Shalom to all of us
Low Risk Low Stress High Reward High Probability Trades
  • #7,564
  • Oct 11, 2014 5:03pm Oct 11, 2014 5:03pm
Quoting clivepackham
{quote} Great post Goerge and something I took on board yesterday when I got back from work , like yourself , i have to fit round a fulltime job too!! Here's what happened on my demo account trying out your grab what you can and run philosophy without worrying about what I left on the table. Thats been my nemesis up to now, never knowing when to bank and always believing there was more to come... I was more worried about what I might miss out on than losing!!! Mad or what. Anyway here's how it went Friday, had a couple of losers at the start...

Great result Clive and we need to keep it up.

We missed each other again this morning but will touch base on Monday as I don't trade on Sundays.

Shalom , and God bless
Low Risk Low Stress High Reward High Probability Trades
  • #7,565
  • Oct 12, 2014 2:32pm Oct 12, 2014 2:32pm
I recently discovered the concept of 'scalping' as I struggled with the medium - longer term trading. Wow, once you get your head around the idea of lots of trades with a few pips here and a few pips there, it all quickly adds up...within a few minutes! Sadly, my next battle is stopping out at small losses, however overall, takeaway money is certainly in the green.

I think I've discovered my favourite method of trading, and as a complete newbie who's only been playing with investopedia, I hope to now set up a MT demo account and wrap my head around the software! If only I can find a demo account that allows me to define my own starting amount (1k) rather than 50k.
  • #7,566
  • Oct 12, 2014 5:29pm Oct 12, 2014 5:29pm
Quoting 919gilead
{quote} {quote} I thought I'll share one key thing about my trading strategy which is to take whatever the market gives me. I said this in post 84 as highlighted above, in the Currency Index Trading thread on Sept 2 and repeated the same thing on this thread in post 7540 about a month after, on October 7. I am not a great trader and there is nothing special or great about my trading result. I...
Hello George
Glad you've followed my ask and finally made a trade explorer. 100% a week is a great result. I'm trully afraid how big will be this account after few months 93% of win trades -> that win ratios were always made me believe that impossible is nothing and never let myself give up; this is why forex is now my full time job - because of people like you

Quoting 919gilead
{quote} {quote} Hey David, I am not exactly what you think. I am black as black can be I relocated to Canada from Nigeria (a great country in West Africa) about 14 years ago and enjoying it here But I am a Jew spiritually and greatly inspired by the holy Bible. And yes, you're right, a little here and little there, is a good philosophy to build a fortune and thanks always for your encouragement and confidence. Shalom to all of us

Maybe you should give up a holy Bible before it will help you to become the richest person in the world

Regards/Shalom

Michael
Aggressive, High Risk, High Gain, High Accuracy
  • #7,567
  • Oct 13, 2014 2:53am Oct 13, 2014 2:53am
Quoting pretorian1
{quote} Hello George Glad you've followed my ask and finally made a trade explorer. 100% a week is a great result. I'm trully afraid how big will be this account after few months 93% of win trades -> that win ratios were always made me believe that impossible is nothing and never let myself give up; this is why forex is now my full time job - because of people like you {quote} Maybe you should give up a holy Bible before it will help you to become the richest person in the world Regards/Shalom ...
Good morning Michael,

Yes you started it, and should be blamed.

He was the one that sent me a PM to open a TE and I promised to consider it even though I was very reluctant. And here we are

Can't give up the Holy Bible, it's gem of truth and wisdom to guide through life.

Shalom

George
Low Risk Low Stress High Reward High Probability Trades
  • #7,568
  • Oct 13, 2014 4:37am Oct 13, 2014 4:37am
Good morning again
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Low Risk Low Stress High Reward High Probability Trades
  • #7,569
  • Oct 13, 2014 7:05am Oct 13, 2014 7:05am
My 2nd trade and I'm done for the day and going for a snooze
Attached Image (click to enlarge)
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Low Risk Low Stress High Reward High Probability Trades
  • #7,570
  • Oct 13, 2014 8:44am Oct 13, 2014 8:44am
Quoting 919gilead
My 2nd trade and I'm done for the day and going for a snooze {image}
What do those foggy light blue 'clouds' represent?
  • #7,571
  • Oct 13, 2014 10:44am Oct 13, 2014 10:44am
Quoting Johnny1Note
{quote} What do those foggy light blue 'clouds' represent?
Ichimoku clouds.
  • #7,572
  • Oct 13, 2014 2:05pm Oct 13, 2014 2:05pm
Quoting Johnny1Note
{quote} What do those foggy light blue 'clouds' represent?
Yes they represent the Japanese Ichimoku Cloud as Metta said
Low Risk Low Stress High Reward High Probability Trades
  • #7,573
  • Oct 14, 2014 2:58am Oct 14, 2014 2:58am
Thanks, I have so much to learn! Trying to read as much as I can with fascination.
  • #7,574
  • Oct 14, 2014 3:48am Oct 14, 2014 3:48am
I don't usually complain about leaving pips on the table but this one is unacceptable

 

  1. I entered @ the wrong point when price was already approaching the M15 TMA, and no wonder price bounced as soon as I entered. I should have waited for the bounce/pullback and entered on trend resumption (sorry Captain, I was a bad student here);
  2. I got a good prompting not to close the trade but move my SL to break even plus 1 (just before the new release) but ignored the prompting ​


Learning from my mistakes and will try to improve on the next trade. Well, I'm done for today as I have to catch some few hours of sleep before work, and look forward to resumption of my fulltime trading shortly again.

Cheers, and good trading to all.

Shalom

George

Attached Image (click to enlarge)
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Low Risk Low Stress High Reward High Probability Trades
  • #7,575
  • Oct 14, 2014 9:07am Oct 14, 2014 9:07am
Hello Gilead, do you mind saying a lil bit more on how you take these trades( especially on the entries ), I must say that i started using TMA bands one week or so ago, and reading your posts is great help at the moment. One question also, how reliable do you find those TMA1 beyond TMA5 set ups ? Another member from this thread used to use it too. I think he was called Juicyt.
Anyway, thanks and have a good day.
  • #7,576
  • Oct 14, 2014 12:00pm Oct 14, 2014 12:00pm
Quoting metta87
Hello Gilead, do you mind saying a lil bit more on how you take these trades( especially on the entries ), I must say that i started using TMA bands one week or so ago, and reading your posts is great help at the moment. One question also, how reliable do you find those TMA1 beyond TMA5 set ups ? Another member from this thread used to use it too. I think he was called Juicyt. Anyway, thanks and have a good day.
Hi Metta,

I would rather suggest you read Favorite's manual as I am not the best example of a Babon trader. I trade with 3 screens and on one of them is the Babon system while my personal system is on another screen and my multi purpose dashboard which contains the currency strength meter and other dashboards on the 3rd screen. So a lot come into play before entering a trade for me. Therefore for pure Babon trades, read the manual as it is very detailed with explanations and examples of how to enter trades.

Another suggestion I will offer is to take screenshots of setups (classic Babon or M1 TMA beyond M5/M15 TMA) you see every 15 - 30 minutes and compare at the end of trading day. This was how I learnt and perfected my trading system.

I trust this helps.

Shalom
Low Risk Low Stress High Reward High Probability Trades
  • #7,577
  • Oct 14, 2014 3:03pm Oct 14, 2014 3:03pm
Thanks a lot Gilead. And Shalom to you too.
  • #7,578
  • Oct 15, 2014 6:10am Oct 15, 2014 6:10am
Babon Strategy. +15Pips. Todays Trade.
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  • #7,579
  • Oct 15, 2014 6:27am Oct 15, 2014 6:27am
One Hour chart showed a rejection on resistance.

Another scalp entry +10 Pips. PA Naked Babon.

Credit to Favourite!
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  • #7,580
  • Oct 15, 2014 9:10am Oct 15, 2014 9:10am
Another one on EUR/JPY.

This time it's "TMA M1 beyond TMA M5/M15"

+20Pips
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