As simple as possible: 00 level trading

Came late today. Green pips to all, who are still harvesting. Udine, hope you get better soon.

Line of reference, Daily Open, changed into Daily Pivot, other as per system.

#1 EU
#2 UCh

# 3 NU

Big Lot Scalping Method

I have a question for everyone on this forum and I know this may spark some debate because I know it is a controversial topic but it is something that I was curious about especially for you large lot traders out there.

Okay, my question is this:

Is anyone using this type of scalping method (or something similar) to grab a small amount of pips quickly AND safely (as possible) out of the market BUT while using bigger lot sizes in order to maximize and compound your accounts much faster?

Let's say that you are only targeting a mere 13 pips for your T/P [Take Profit]. Now 13 pips may seem small to most longer term traders at first (including myself) but this is where the power of compounding really shows it's pretty little face!

I mean think about it, why aim for 100 pips while staying in the market for hours or even days knowing that the market can go against you at any time, when you can jump in and out very quickly, grab say 13-20 pips at a much higher lot size, and make even more money much faster.

Just think about these things and expand on the concept further in your own mind and practice it.

Remember when Einstein said that "compound interest is the most powerful force in the Universe"?

It's all relative, it's all a matter of perspective. All we need to do is change how we look at the markets and then use that to our advantage with a killer edge like this!

1. If you place one position at 1 full standard lot ($10 USD per pip for example) and earned 13 pips = You profit $130 USD per scalp trade
2. Now what if you targeted that same "small" 13 pips and traded 2 standard lots with just one position? That would equal = $260 USD per scalp trade
3. One position, 4 standard lots, for a quick 13 pip "scalp" = $520 USD per scalp trade
4. One position, 8 standard lots, for a quick 13 pip "scalp" = $1,040 USD per scalp trade
5. One position, 16 standard lots, for a quick 13 pip "scalp" = $2,080 USD per scalp trade
6. One position, 24 standard lots, for a quick 13 pip "scalp" = $3,120 USD per scalp trade
7. One position, 30 standard lots, for a quick 13 pip "scalp" = $3,900 USD per scalp trade
8. One position, 40 standard lots, for a quick 13 pip "scalp" = $5,200 USD per scalp trade
9. One position, 50 standard lots, for a quick 13 pip "scalp" = $6,500 USD per scalp trade
10. One position, 100 standard lots, for a quick 13 pip "scalp" = $13,000 USD per scalp trade

Do you guys and gals see where I'm going with this idea?

Small, tiny targets but BIG LOTS for BIG PROFITS...

Now I don't consider myself a "scalper" according to how most people define that word because I do mostly trade form the higher time frame charts [4H, Daily, Weekly, Monthly and sometimes dropping down to the 1H and 30M to look under the microscope] but this concept could be a way to really grow and make up for lost trades...

Yes, I do understand the risks but if your account is big enough and you are brave enough to handle it, all you have to do is simply aim for smaller targets and Take Profit Levels while increasing your lot size to whatever you feel comfortable with and your account balance could potentially expand rapidly as each "tiny scalp trade" of say 13 pips begins to add up and multiply.

All I'm saying is this. Most traders do not feel comfortable staying in the market for an extended period of time and most close out trades too quickly even when in a good trend because they get scared and nervous. This could be the solution to that problem and help traders get their butts in the market and then get their butts out of the market quick and snappy while actually making more money and decreasing the chances of getting stopped out!

Think about it. Any one of us can quickly grab a mere 13 pips out of the market. In fact, we do that everyday and don't even realize it or give it any thought whatsoever.

My belief is that traders can be not only successful but ultra successful in FOREX. I believe in all of you traders out there and I believe that you can all make it and set yourselves free so that you can live your best life and spend time with your friends and loved ones. I have a positive expectancy of success and that is how and why this concept came to mind.

Once again, this is just an example, just an idea floating around in my head that I wanted to put out there and share. I think that this is a very powerful concept and is truly something to think about.



I came up with a quote last year that I keep posted right on the bottom edge of my computer screen written on a sticky note. I look at this note many times each day just to spark up that transformational energy around me. I also posted this on another forum but you wanna know what it says?

My daily mantra:

"I am amongst winners, success is inevitable!"

Get yourself a piece of paper or a sticky note and write this same mantra on it and place it somewhere where you can say it throughout the day or near your computer screen like me.

And for all of you my fellow traders, I shall say it like this:

YOU are amongst winners, success is inevitable!"

Perhaps I will when I have more time....time for rest now I'm afraid.

You will learn a lot from reading through this thread (long as it is....you might find it well worth it).

Once you have a good understanding then I'm happy to direct you to more study, chart analysis, candle patterns,S +R, Pivots, session behavior, Fibs, EW (not that much in this method) and on it goes.

Best advice would be to start analysing charts and putting what you learn altogether in a way that makes sense.

You will never ever stop learning ... doesn't matter how long you have been trading .... there is always something new to learn.

Good Trading,

Masterrmind............

@Moneyflow21

Every trader has his or her own reasons for trading this method.

It's FIFO .... usually same risk per trade on 5 pip take profit as what longer term traders would risk on 50, 100, 150 pip SL.

Best part here is that all you need to do is get the direction right for 5 little pips and you're done....rinse and repeat!

You should read a lot more of this thread so you would better understand what some of us longer term traders have posted.

I for one have clearly stated my intentions of trading this method right from the beginning of my posts in this thread.

Compounding is not new news its ancient but its also what I do in my trading and I'm guessing almost every other trader out there is too!

I'm unsure as to the intent of your post..... appears to be from a new trader with very high hopes!

Good trading

Masterrmind............

Good luck to everyone else trading

Time for rest

Masterrmind...........

#4 AJ manual entry 1 pip above 00, rest the same

#5 UJ

This will do. Time for rest. Till tomorrow.

Could you direct me to somewhere I can learn more about candle patterns?

Thanks!

e/ nevermind, for some reason I was thinking of wick patterns and not price action

How to install the all the indicators, profile, & templates. I paste all the file into the according file,but when i want to load the template for the chart but can not find it in the list. How?

Appreciate ur kind assistant.
Please commend.

Thanks.

Early Bird!

EA to TP!


Greetz Michael

i'm not sure you guys got an EA for this Udine's rules or not

but I just make one

Udine00 EA v01

(only rule this EA violate is putting 10 pips stop loss, it always hit stop loss, I mean... a lot. So no stop just for now.)

Could you show BT results for 3M and YTD period?

iamgotzaa - are you using tick data for the backtest?

In any case, and as stated by those who are successful at using this strategy, there is quite a bit of discretion used in this system, so adapting it to an EA would be quite the task.

XUX99 also started a dedicated thread for this purpose.

Automating the method is not impossible I suppose but certainly would be very challenging.

Good luck to anyone wishing to do so.

Masterrmind.............

Have you read anything on this thread????

- it talks about taking small bites (5 pips) Fast In Fast Out ..
- it talks about compounding
- it talks about looking for low risk entries with high probability wins
- it talks about closing your platform after 2 wins and come back tomorrow
- etc.

I have no clue what this post is about, but I will be watching .....

Udine

Thank you

I have noticed that when i removed it from my template, and then open a new chart, load my template and then insert xADr.renko no more freezes !

hope it works for you too.

Thanks for the indicator btw !

Good morning traders.

#1 AU

back test 10 months 90% model (closest I can get for free data)

start at 100$

I think it's good enough, if I can check the terminal for losing orders and close it in time.

This run on London open to London close. Even on news hour. No news filter.

edit:
add .ex4 file

Good results but they won't work in real life until you eliminate news trading and put proper sl. Speaking myself as i also have created some EAs for myself. when you reduce your maximal drawdown to 5-12% then it is worth to check you system